Typical cash-strapped student diary

Savy.Student

So I've made this diary just as a log book and to help keep the motivation going.

The dirty stuff:
Barclaycard - £3724 0% currently
Tesco CC - £60 (only use for petrol now)
Very - £549.99 0% currently
Overdraft (student) - -£700

I'm 22 and never thought I'd go to university, so as soon as I left college I always had a full time job, and therefor was managing my credit cards and accounts okay (although in hindsight I really wish I never even looked at my first credit card). Anyway I decided that I couldn't go through life working mundane, low wage jobs that I hated so I had a complete change of heart and went to uni.

I've just finished my first year at uni but I decided that I actually hated my course and couldn't stand another year studying it. So I've now swapped courses but that means an extra year at university, and an extra year without working full time

Although my debt total isn't nearly as much as some people's on these diaries, it's a lot to manage when you've been used to a working full-time lifestyle and the plenty of money that brings with it, to not earning anything and eargerly awaiting the next student loan installment.
The lifestyle change was a shock and looking back I really hadn't adapted to it, finacially wise, as much as I thought I would. I definitely spent more than my means and so am currently in my overdraft (which is a student account so 0 fees and 0 interest, thank god :rotfl:)

So my goals are:

1. Over the summer try and get as much debt down as much as I can
2. Most days are NSD
3. Earn as much money as I can

This coming academic year I am DEFINITELY go to control my finances better and live within my means. The past year I definitely did a stereotypical student stunt and blew most of money on alcohol and going out as soon as each loan instalment came in.
But no more, I have learnt my mistakes and I am promising myself to rein it in this next year. Besides I feel like I got all the partying and drinking out of my system. :T

[Deleted User]

Hi & welcome,

Good luck with your goals, they all seem achievable but it will be a struggle sometimes. When it is you just have to remember why you are making these changes, for the better.

Dxxx

Savy.Student

Hi Dolly Rocker, and thanks

I know that when I've finally paid of my credit card and very account I can start saving big time for a house deposit for when I (eventually) graduate.
The thing is, like quite a lot of people on here, I don't really have anything to show for all my debt. Its literally just been clothes, make up, extravagant technology purchases etc.
I feel like something has clicked in my head, and now I know that I've got to stop and change or it'll just keep spiralling out of control

[Deleted User]

Och we are the same, have nothing at all to show for the debt we are in.

Had fun with it but now its time to grow up & buy a house.

Dxxx

Savy.Student

I've put up a couple of things on ebay, took inspiration from all these lovely people on DFWB diaries. At the moment it's only a pair of high heels that my flat mate convinced me to buy even though they are a size small ( and they're wide fit so I thought that would make up for it). I've also put up three Pandora charms that my ex gave me a few years back and have been gathering dust.
I don't expect much but I can't stand clutter or things that I haven't used and know I won't use.
My family are hoarders and the house looks like a tip. I know I never, ever, want my house full of such useless junk like this.

I also lent mum £300 in August last year but haven't had a penny of that back yet. I reminded her last week so at least it's in her head, although today she bought a puppy for £220.... so I think paying me back is not a priority to her, as usual.

Counting down the days until I move back to uni - 78 days

[Deleted User]

Savy.Student wrote: »

I've put up a couple of things on ebay, took inspiration from all these lovely people on DFWB diaries. At the moment it's only a pair of high heels that my flat mate convinced me to buy even though they are a size small ( and they're wide fit so I thought that would make up for it). I've also put up three Pandora charms that my ex gave me a few years back and have been gathering dust.
I don't expect much but I can't stand clutter or things that I haven't used and know I won't use.
My family are hoarders and the house looks like a tip. I know I never, ever, want my house full of such useless junk like this.

I also lent mum £300 in August last year but haven't had a penny of that back yet. I reminded her last week so at least it's in her head, although today she bought a puppy for £220.... so I think paying me back is not a priority to her, as usual.

Counting down the days until I move back to uni - 78 days

I listed a few items on ebay too, not had any bids yet.

Really hope they go, could really be doing with the money.

Sucks when you feel like people are not in a rush to pay you back, especially when it's family.

Hope you do get it back eventually.

Dxxx

Savy.Student

Yeah it does Dolly Rocker just hoping she at least starts paying me back before I go back to uni in August.

I've managed to get one bid so far on the shoes I put on ebay, got 7 watchers though so hopefully there will be a bidding war. Since I followed one of Martin's blog's advice and scheduled it to end on a Sunday evening as that's the busiest time, fingers crossed they sell for a fair price. No bids for the Pandora charms yet though.

I'm also going to trade in my old surface tablet at Game for hopefully £60+. I was going to trade it in at Cex but luckily I shopped around and can get an extra £20 for it at game

It was my birthday a few days ago so that has gone back into paying the overdraft a little bit - the closer i get to zero, the more student loan I will to budget have next year.

As a birthday treat I managed to grab a AAA game for just £2 using the last Tesco Clubcard boost vouchers, so I'm smitten with that.

And on a last note, my auntie paid me £25 for walking and feeding her dog all of last week whilst she was on holiday, so that will be going straight into my over draft too

Hope everyone's all ok and watching those pennies!

Savy.Student

Both of my ebay items sold, the shoes at just £4.20 and the Pandora charms at £16.30 so with postage and all it's a profit of £18.22. (I didn't realise that I set the postage on the charms as first class, so I lost an extra £1.20 paying for that :mad:) but every little helps I suppose. I've just got back from sending them off at the post office. Well the post office where I live got sold so we have a post office van come round two times a week :rotfl:

Living at home is really helping having no spend days since I live in a remote village. I'm trying not to go into town in my car unless I really, really need to to save on petrol. It's actually rare to have a day where I do spend money so for that I'm on the right track

Other than that there's nothing new to update you all on yet.

Hope you all have a good afternoon.

Savy.Student

Hi all,
I had my first annual Barclaycard statement yesterday and I really had a light bulb moment. I was shocked to see that I'd accrued over £4404 on it in the last year ( all balance transfers) but I have only paid off £824..... it really shocked me seeing the annual statistics put into that perspective.

So I had been thinking about this for a while but since everything was at 0% rates for ages till I'd been putting it off. But I had £1500 in savings that I had kept for an emergency, mainly if my car broke down or I wrote it off etc. I have just paid off Very entirely so that's £549.99 debt wiped clean and then put the rest on my Barclaycard, clearing £950. So all of my debt is now on one card ( makes me feel better knowing it's in one place), and as of now it is £2774 :j

Every penny I can spare is going to chip away at that figure now, I can't wait to see it start to fall.

Have a good evening everyone

:beer:

[Deleted User]

Well done you.

It is good to have an emergency fund but like you said you feel better having all the debt just on the one card.

You can build that pot back up again, I have never had one!

One day for me.

Dxxx

Savy.Student

Thank you Dolly Rocker, yes I do feel great for getting such a big chunk off my debt but it was always nice to feel a little bit secure having an emergency fund, but ah well. Ive set up a standing order of £5 a week to (very) slowly help build it back up.

The minimum payment has decreased from around £86 pm to £65 pm on the Barclaycard so it has helped tremendously to pay a chunk off. I've also set up a direct debit it for it so I don't have to worry about forgetting to pay it each month.

On other news, I have definitely decided that I'm going to leave my car at home instead of taking it to uni this academic year. I've done the sums and it cos me around £1400 a year to keep it running, whilst getting a train home every few months or so would only cost me less than £100 for the year with a railcard. It's gonna be hard getting used to not having a car though, I worked my !!!! off to get it just two years ago

But sacrifices must be made if I want to see my name on the debt-free wannabe roll of honour!

Lovely sunny day today, enjoy everyone!