Little Birdie gets chipping!

edited 7 April 2016 at 8:07PM in Debt free diaries
48 replies 5.4K views
LittlebirdieLittlebirdie Forumite
253 Posts
Fourth Anniversary 100 Posts Combo Breaker
edited 7 April 2016 at 8:07PM in Debt free diaries
Hello,

Wow what a great little place this is!

Ok so usually I'm this little motivated girl but I need just a little support to get this debt cleared.

Basically didn't have a clue how to budget at uni and got into £4,000 debt! Luckily it was just a 0% overdraft.

Decided to face this when I got my first proper job. I have spent the last 13 months clearing it and I'm down to £785! I'm sooo close.

Sadly no motivation left though! So thought starting a blog would be a great start.

I have a budget and write down everything I spend. I like it but I must admit it can sometimes take the fun away!

I'm putting £100 a month towards it. I know it's nothing compared to some people so I am trying not to dwell too much!

I also want to start this blog so when I am out of debt I dont get into debt again.

Any helpful tips or advice on budgeting to ways to save money will be very welcome.
To staying out of debt!
Credit card (Nov 2018):£894.60 . Emergency fund: £2000/3000
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Replies

  • Orange_EnaOrange_Ena Forumite
    1.3K Posts
    Forumite
    Hello,

    Wow what a great little place this is!

    Ok so usually I'm this little motivated girl but I need just a little support to get this debt cleared.

    Basically didn't have a clue how to budget at uni and got into 4,000 debt! Luckily it was just a 0% overdraft.

    Decided to face this when I got my first proper job. I have spent the last 13 months clearing it and I'm down to 785! I'm sooo close.

    Sadly no motivation left though! So thought starting a blog would be a great start.

    I have a budget and write down everything I spend. I like it but I must admit it can sometimes take the fun away!

    I'm putting 100 a month towards it.

    I also want to start this blog so when I am out of debt I dont get into debt again.

    Any helpful tips or advice on budgeting to ways to save money will be very welcome.

    Welcome and good luck with clearing the last bit :)

    Lots of great advice on here with saving money or making a little extra such as surveys, ebay, yellow sticker shopping. Have you look at the old style board?

    You could join some challenges too. I think there's a 1% challenge where you think of your debt in 1% chunks so you could try and make £7.85 extra and then colour in 1 square. For all those 1%/£7.85's you colour in a square and another square and can visually see how close you are. :)
    Debt Apr 15 - £6895.44 :( Apr 17 - £2500 :) Dec 17 - £560 :) July 18 - £199 :D
    CHEFS challenge (Cruise Holiday Entirely Funded by Surveys) - £685.79
    Every penny is a prisoner :D
  • Hey,

    great ideas! Where do I see the old style board?

    Thanks :)
    To staying out of debt!
    Credit card (Nov 2018):£894.60 . Emergency fund: £2000/3000
  • Okay feeling more motivated today!

    Things to do

    1) If things dont sell on ebay take better pictue and put on local fbook page
    2) Get organised with 2nd income
    3) Go to cheap supermarket and do weekly shop
    4) put in diary when due travel money from voluntary work (try and put striaght in savings)

    Have a nice day!
    To staying out of debt!
    Credit card (Nov 2018):£894.60 . Emergency fund: £2000/3000
  • So I do a little trip to the city and next thing I have to buy expensive food ...which I dont need! O well its not every week that I go and buy a burrito...and a dessert...and a fruit pot,,,,and a mocha. One good thing is my boyfriend is coming to me so I wont be spending money on travel although I'll prob spend a bit more on food but I'll try and be good! My housemate asked me to buy him some stuff from the shops and the money that he gave me will go into my little pot to go into savings!
    To staying out of debt!
    Credit card (Nov 2018):£894.60 . Emergency fund: £2000/3000
  • Oh also sold some skirts on Ebav. Only for 99p each but hey ho better than nothing. Also got a leaflet through the door about taking clothes and they will get weight and I will get 50p per KG...I'm happy with that :) Ok I know it isnt much but it is better than nothing.
    To staying out of debt!
    Credit card (Nov 2018):£894.60 . Emergency fund: £2000/3000
  • So I've just gone through what I have spent this month and og my loardy.....Ive over spent on ridiculous things. I have got to stop buying coffees. I was so good a couple of months ago and its all gone a bit pear shaped! So right back on track I go :) I think I also must remember I am saving £100 a month for a holiday in August which makes a massive difference to my budget and also I've payed for a few things and spread the cost over 2 months which makes a big difference.

    So 18 days till pay day.....I'm going to try and spend nothing Monday - Friday and only on the weekends....here goes!
    To staying out of debt!
    Credit card (Nov 2018):£894.60 . Emergency fund: £2000/3000
  • edited 10 April 2016 at 11:08AM
    PippilongstockingPippilongstocking Forumite
    16.3K Posts
    edited 10 April 2016 at 11:08AM
    Hi there Littlebirdie - good luck you might want to join in on the 'small things thread' its really useful to keep you on track everyday and those small things do add up.

    Its on the main DFW thread site.

    link here

    http://forums.moneysavingexpert.com/showthread.php?p=70479213#post70479213
    Total debt 26/4/18 <£1925 we were getting there. :beer:
    Total debt as of 28/4/19 £7867.38:eek:
    minus 112.06 = £7755.32:money:
    :money:Sleeves up folks.:money:
  • So I'm back! I thought I could do it wouthout having a thread but actually I think I would do better with one. So be prepared for a rambling update!

    Overdraft
    £1,149

    I'm waiting/ pating back for:
    £150 from a bank switch
    £250 from self employed work
    £73.91 which I used to buy things I really needed and paying back in month installments (direct debit set up in my account)
    £232 - it was cheaper to pay for professional fees upright rather than splitting it over 12 months. it was £280. It is £24 a month and I have another 10 months to go.

    The total overdraft was £4000 so I'm really close and quite proud of myself.

    The deadline for my overdraft bing paid off I think is August 2017 so I have plenty of time but...

    I hate paying money into debt and it is just keeping me further away from building into savings and for a house. So trying to get this debt paid off asap

    I also would like to buy a car in the near future and perhaps move to the city for a bit of a different life. People do it at work so I reckon I can do it.

    Ok SOA coming and perhaps some more waffling!
    To staying out of debt!
    Credit card (Nov 2018):£894.60 . Emergency fund: £2000/3000
  • Statement of Affairs and Personal Balance Sheet

    Household Information

    Number of adults in household........... 1
    Number of children in household......... 0
    Number of cars owned.................... 0

    Monthly Income Details

    Monthly income after tax................ 1450
    Partners monthly income after tax....... 0
    Benefits................................ 0
    Other income............................ 0
    Total monthly income.................... 1450


    Monthly Expense Details

    Mortgage................................ 0
    Secured/HP loan repayments.............. 100
    Rent.................................... 541.66
    Management charge (leasehold property).. 0
    Council tax............................. 0
    Electricity............................. 0
    Gas..................................... 0
    Oil..................................... 0
    Water rates............................. 0
    Telephone (land line)................... 0
    Mobile phone............................ 15
    TV Licence.............................. 0
    Satellite/Cable TV...................... 0
    Internet Services....................... 0
    Groceries etc. ......................... 120
    Clothing................................ 10
    Petrol/diesel........................... 0
    Road tax................................ 0
    Car Insurance........................... 0
    Car maintenance (including MOT)......... 12
    Car parking............................. 0
    Other travel............................ 100
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 5
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 0
    Contents insurance...................... 0
    Life assurance ......................... 0
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 10
    Haircuts................................ 10
    Entertainment........................... 140
    Holiday................................. 100
    Emergency fund.......................... 12
    Phone (pay off over 18 months on 0% CC). 20
    Eating out ............................. 30
    Eating on the go ....................... 30
    Coffee shops............................ 30
    Total monthly expenses.................. 1285.66



    Assets

    Cash.................................... 0
    House value (Gross)..................... 0
    Shares and bonds........................ 0
    Car(s).................................. 0
    Other assets............................ 0
    Total Assets............................ 0



    Secured & HP Debts

    Description....................Debt......Monthly...APR
    Mortgage...................... 0........(0)........0
    Secured Debt.................. 150......(100)......0
    Total secured & HP debts...... 150.......-.........-


    Unsecured Debts
    Description....................Debt......Monthly...APR
    Total unsecured debts..........0.........0.........-



    Monthly Budget Summary

    Total monthly income.................... 1,450
    Expenses (including HP & secured debts). 1,285.66
    Available for debt repayments........... 164.34
    Monthly UNsecured debt repayments....... 0
    Amount left after debt repayments....... 164.34


    Personal Balance Sheet Summary
    Total assets (things you own)........... 0
    Total HP & Secured debt................. -150
    Total Unsecured debt.................... -0
    Net Assets.............................. -150
    To staying out of debt!
    Credit card (Nov 2018):£894.60 . Emergency fund: £2000/3000
  • So I wish I was able to set up lots of little accounts and I am kind of there. I pay in £12 a month for an emergency fund and emergency car repairs - there is £30 in each account.

    But until I pay off this debt I dont think I can do it.

    I know I spend a lot on socialising however I'm 25 and I want to have fun. I willing to spend longer in debt than not have fun.

    Car

    I really think I need a car. It would help my QoL massively. I am thinking of getting a 0% balance transfer of £800 and buying a Ford KA as they are cheap to run. Yes it is a risk that it wont last long but what other choice do I have? I dont think I do have one. Also its my first car so want one that can take a few knocks! Ofcourse not that I am planning to have a few knocks ha!

    So here goes....
    To staying out of debt!
    Credit card (Nov 2018):£894.60 . Emergency fund: £2000/3000
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