Joined 31.05.16

louby40

Keep going PSL April will be here before we know it!

Poor_Single_lady

Thank you everyone. Very much helpful advice which I am learning from. I am hanging on. Going to bed early.
Balanced transferred the last of my credit card at 18% which I didn't think would even be possible, but this means everything bar overdraft which I shouldn't be using is 0%.
I am going to hang onto the credit card but not use it. This means I now have 6 in my name Plus loan and overdraft. Which is a bit of a sobering situation. One that I never want to admit to in the real world.

This week work event Tuesday (free) and pub on Saturday but could be cancelled.
3 weeks to payday.
Small mid week food shop
And lots of studying.






Cumbrian Lass match not going well. I think I need to pay off debt and get exams first but that could mean it's on
Hold for ever. I think right now I am a disaster at running my own life. It's s bit like I have fast forwarded to this point as a teenager and never learnt anything.

Verbatim

Don't despair psl. Your situation has so many plus points! It just needs a bit of management!
You have your own property, an excellent career and a salary which is likely to increase. You just have to rein in the un planned spending.
At the risk of sounding obvious my suggestion would be to write your budget with income and absolutely unavoidable expenditure,(mortgage, council tax, utilities, fares to work, debt repayments, essential groceries , monthly savings for insurance, professional memberships, tv licence etc), but NOT leg wax, eyebrows, perfume, new clothes etc, and see how much is left. Allocate an amount for Xmas/birthdays, emergency fund etc and see what is left for socialising. It seems that you do the opposite: stating your social commitments and cosmetic/ beauty treatment wants first and seeing what is left after.
As ever, every good wish for getting it all sorted.
V

Poor_Single_lady

Thank you Verbatim and everybody.
I don't have much to add today. Plodding along low spend.
Accounts are a bit of a mess really.
Thinking about having some time off work in April but then if I leave for new job I will have to pay for the holiday as it wouldn't be earnt.
Not sure what to do for the best.
I left my credit card at home today which is good and I need to get used to not using it.

louby40

Ahhh PSL you sound quite down!

I don't think your debt situation will change until your mindset changes. I haven't used my credit cards for months, if I can't buy it with cash I don't buy it. Infact both credit cards are in my bedside drawer at home.

It's the 7th of the month and I have quite a bit of money left in my current account, last year I would be nearly at my overdraft by now. I budget my money for the month ahead (using YNAB) giving every £ a job and it works! I gave myself £30 for clothes, £250 for food, £20 for fuel, £40 for eating out etc etc this month. YNAB totally works. It allows you to live and have some fun whilst budgeting.

Hope you feel more positive today.

joedenise

Have to agree with Louby about changing your mindset and also about YNAB. Since using it I've actually managed to save money, which previously I wasn't doing.

Denise

StokieBecks

Great that all your credit card balances are now on 0% ...now write down the balances on all of them for yourself and work out when they stop being 0% and what the interest will be if you have not paid these off by end of interest free terms. Hopefully this will help you work out how much each month you need to put to each one to clear by end of interest free period.

Ask yourself the question what will you do with time off if you did have a week in April and that if you did have to pay it back where would that come from. Everyone needs a break from time to time but it is never easy to enjoy so much if you are on a strict budget and if you think you will have a big spending spree it may not be beneficial right now.

I hope that you do get your bonus to cover your loan and pay that off...you will have to contact your loan provider for a settlement figure once you know if you are getting the bonus as there is usually interest to factor in.

What did you use the spare money from the payment holiday for? If it was for living expenses you need to relook at your monthly budget so that if for whatever reason you can't or don't pay the loan off in April you don't need to add another repayment holiday as this only prolongs the debt and adds more interest.

Keeping the credit cards at home is a good idea. I know some people freeze theirs so it is only there for emergencies.

Keep going PSL. I know the debt free journey is tough and probably boring for you but if you keep your mind on small goals/small targets you can be successful. Every single one of us is travelling a different journey but ultimately hoping for the same outcome...to get rid of the debt.

I agree with Louby, however you work out your budget whatever excess is left draw out in cash to last you the month. If you havent got it there you can't spend it. Every pay day after I account for what needs paying i draw out my leftover (which believe me is a pittance but it is my pittance to do as I please with if i run out i run out)

lulabelle

don't be down PSL - and I think all of the above is very good advice. You do need a break but if you are not going to enjoy it because you're worrying about not being paid try to hang on and maybe take one in may or june. x

joedenise

Remember PSL that you'll get a couple of days off in April for Easter so a long weekend which you can enjoy. Certainly not a good idea to "borrow" from next year's leave allowance, best to earn it before using it in the same way it's best to use cash to buy whatever you need rather than getting into more debt.

Lulabelle has made some good points.

Denise

Poor_Single_lady

Thank you Denise, Louby, Stockiebecks and Lulabelle.
I'm not sure I am as down as I sound. I just don't have much good to say! It's just getting quite tough. There is quite a lot of stress at work from various issues so that is quite stressful too.

I went to Tesco, Lidl and sainsbury after work. But everything I bought will get eaten. Mostly veg and meat and other essentials. No alcohol or coke, but some chocolate and some sweets for work team. Taking lunch to work tommorow and Friday. Then Saturdays quick drink and then home. Sunday is strictly study and no alcohol. Then 2 weeks to payday.

On payday the loan will reduce to £1225. Today marks 46 days left, it has a built in holiday once a year in January and I do need to ring them on payday.

Although I would love a long break, I think I am going to settle for a few days. It's not that I am borrowing holiday but if I get a new job will need to pay back. But I do need to organise some time off for my own sanity!

I honestly am getting things organised and sorted out, it's just not going to be quick.

The credit cards have various terms on them. I have about £800 going to 20% In may and then £1700 going to 22% in 12 months time.

So once the loan is gone and overdraft is not in use which is almost happening then I will be down to 5 credit cards plus 1 not being used.

One thing I hate is all the statements and correspondence that goes with having 7 sources of credit. I will be glad when I don't have a mountain of post regularly reminding me of my bad choices. I need to start shredding them.

I am fixing and one day soon I will have some good debt news! It's going to happen. Just not yet. xx