NST - January. Bobs post bauble debt busting challenge

themarsbargirl

I'm in, been a while since I last turtled

1. We are aiming for maximum no spend days this month. There are 31 days in Jan. Aim for at least 21 if not more.
eeeek! I'll try for 21 NSD, but as I have very little space to store food I usually buy a small amount of fresh produce every day or so.
2. Pay to your debt as soon as priority spends are complete. These should be rent/mortgage, food, heating etc.
This month we are having a stretch target concept which some of you will recognise but for the new contenders means paying your min payment then calculating what you would like to shift from your total debt ideally. If you don't hit the stretch target it doesn't matter but you will probably have raised your game either way.

I usually pay 100 a month to my credit card, this month will aim at 140

3. State your intentions. Tell us what your aim is. Why are you seeking this path and what doors do you hope to unlock along the way?
I want to get myself back on track, using cash only and not using the credit card to cover overspending.

4. Check in every day. The reason we do this is to keep ourselves accountable. If you've set your intentions in a group of like minded people you are less likely to stray from the path.
I will try to remember.

5. You will donate £5 to a good cause of your choice. Local foodbank.

6. Plan your diary. It's good to be sociable but nights out are costly and a walk with a friend is free. Don't worry about offending people by suggesting an alternative social occasion. Report in at how many events you have to attend in Jan and other people can suggest ways to minimise costs.
My idea of being social is going to my friends house for coffee, no nights out here for the socially anxious!
7. Plan your grocery spends carefully. After the excesses of Christmas you will probably have spent more than usual on food. Can you use this as an opportunity to save on groceries in January? Think carefully about what you do need.Have you got loyalty points for shops that can be cashed in to save on food?
Lack of space at my parents house and sibling hosting Christmas means no excess of food here. Aiming to eat more healthy and utilise a "love your leftovers" book I got given for Christmas. I foresee lots of rubber chicken in my future.

8. Get something for free! - they say the best things in life are free, I challenge you to find as many free things as you can in January and report back. For example can you get a free haircut by going to a student training evening? Can you go shopping at 9pm and get food for nothing? Can you set up a clothes swap with friends and all get a new item of clothing for nothing?
No idea how I'm gonna do this one!

9. Earn extra - find a way of making something on the side. I like the term 'side hustles' mine are ebay, spending apps, cashback sites, reward credit card, wombling store points, anything you can do to bring additional income into your house do it!
Sigh, back to ye old survey sites this month then

10. Check your credit report- if you have a bad credit report it can ruin your chances of getting a mortgage, 0% credit deals, renting a property. For between £0 & £3 you can obtain a copy of yours and check that there is nothing unexpected on it.
Never actually checked my credit report!

Let 2016 be the year you set yourself free!!

dizzyblnd

Can I join please Bob?

I had a complete failure in Decembers challenge- lost all track of nsd and budgets but January is a new month/ new year. I have four birthdays this month so need to get my thinking cap on.

Bob u r so amazing, so motivational.

Bobarella

chocolatelover93 wrote: »

I don't think so not sure how you would find it if you did want to. I can PM you the link if you would like?

Yeah I think you're right going to be keeping a close eye on it from now on. Might give Noddle a try as it seems to have a lot of good reviews and also free

Yes please do chocolate..

Bobarella

must.try.harder wrote: »

I love the idea of selling at a craft fair but sadly I don't think I have enough stuff to sell and would have to purchase more stuff to then upcycle...but I will definitely finish the ones I have and get those old bits of furniture on ebay in the new year

I wonder if Apple Muncher can suggest anything on that as she sells her own crafted items.

short_bird

Bobarella wrote: »

Short_bird - I don't use it myself as I never have and feel budgeting is not an area I'm too bad at. But many people on here swear by yNAB for tracking all your spends. Have you heard of it?

Yes, I have heard of it and have just had a look at the website...

I think a "write it all down" month is in order to start off with, work out where it's going and why it's going I did a really simple total last night and there's not enough coming in to cover the essentials.:(

Bobarella

dizzyblnd wrote: »

Can I join please Bob?

I had a complete failure in Decembers challenge- lost all track of nsd and budgets but January is a new month/ new year. I have four birthdays this month so need to get my thinking cap on.

Bob u r so amazing, so motivational.

Dizzy of course, welcome. We don't use the f word on this thread btw, no such thing as a complete failure. The fact you know you went wrong means you aren't ignorant of the issues you face. That is worth a lot.

Birthdays seems to be a common threat to us all this month. Some more than others. In the case of my FIL I am thinking something like a framed picture of the grandchildren that we have just taken this Christmas. I can re use a frame we already have, we can print on our colour printer, have photo paper already and then it's just the cost of sending. He's 75. He has has a great life and has all he needs. I think he'd like that.

Sometimes it's the thought in a gift that makes it loved by the recipient not the cost or item itself.

Bobarella

Welcome themarsbargirl, have signed you up. I can see why lack of space can be a real issue for trying to not shop daily. Just do what you can on that one I'd say. Well done on setting your stretch target and the food bank is a very good choice for your donation.

Bobarella

short_bird wrote: »

Yes, I have heard of it and have just had a look at the website...

I think a "write it all down" month is in order to start off with, work out where it's going and why it's going I did a really simple total last night and there's not enough coming in to cover the essentials.:(

How I work is, I use a spreadsheet with all my costs in on a monthly basis. Then add in income. I update this each month. I reconcile all costs against my online account most of the time daily. And log all spends into my financial planning app. It shows by category where my spends are. That's enough for me. I think your way has shown that the basic act of doing income vs expenditure is enough as a step one.

short_bird

Bobarella wrote: »

How I work is, I use a spreadsheet with all my costs in on a monthly basis. Then add in income. I update this each month. I reconcile all costs against my online account most of the time daily. And log all spends into my financial planning app. It shows by category where my spends are. That's enough for me. I think your way has shown that the basic act of doing income vs expenditure is enough as a step one.

Yeah, step 2 - the spreadsheet - is my second job on Monday

XSpender

Bobarella wrote: »

Short_bird - I don't use it myself as I never have and feel budgeting is not an area I'm too bad at. But many people on here swear by yNAB for tracking all your spends. Have you heard of it?

I converted to YNAB this year and really like it. I have budgeted/tracked spending with both a note book and a spread sheet in the past but YNAB has helped me to become much better at both budgeting and keeping a track of my spending.

You can try it for a month for free and if you like it you can often 'win' a copy by attending one of their on line seminars or there are referral links which give you a discount on the forum on their website.