Round and round the overdraft....soon to be no more

tori.k

These things are sent to try us at times, hopefully the emergency fund will be enough if not your just have to focus on the positive if you didn't start building your emergency fund the whole lot would have gone on the overdraft

louby40

Tori that is true! I did think once my EF had reached £500 I'd throw the extra £100 at my cc but that won't happen now.

It's life!

System

oh no - at least this is happening now - not in the midst of a freezing winter when your hopes of getting a plumber are pretty low!
It's a good example of what an emergency fund is for!

Could you just do minimum payments on your debts this month and instead add more to your EF to replace what's been spent? I know overall it will add in extra time to your DFD, but having a better EF should make you more robust?

Ramble x

louby40

Ramble I fear I may have to do that as in September as my car needs a service and an MOT so that may cost me £200! I can always do the minumum payments and see how my budget is towards the end of the month!

In the past though I would've paid for the service/MOT on my CC so at least my mindset has changed. I wanted to buy my son a blind and lampshade too next month. That will have to wait now.

Squiggly_Diddly

Hi Louby, I've been having a read of your thread, I was interested that you had downloaded a spending app for your phone, and wondered what it was and how useful you've found it?
I'm single & start a PGCE on 1st Sept, all that stationery and crafting stuff I've got can be put to use at last... Just got to try not to keep spending (mainly as I won't have any money!).
Thanks ��

louby40

Squiggly

It was called Spending Tracker and was £2 I think on the App Store. It's got a picture of a brown wallet. It's quite good but you just track stuff as you spend. I've since discovered YNAB which is much better but costs more (after the initial free months trial)

Louby

louby40

Well my Emergency Fund stands at £1.04 after paying £325 to have my boiler repaired.

I have £217 left to last me until the 23rd which sounds ok but we're off to London this weekend so will have to spend a bit there! Hotel, train and theatre are paid for just need to buy meals and pay £30 to get into Madame Tusauds (we've got bogof cereal vouchers). I've budgeted £85 but don't know if it will be enough.

Ahh well if I end up dipping into my overdraft so be it. It's free for the first £250 but no way will I be anywhere near that.

Going to see if I can put some more bits on eBay

Louby

louby40

Nightmare afternoon! The lovely boiler man fixed my boiler but 2 hours later it appears a pipe burst as we had water running down the walls.

So had to call a plumber out - friends husband and he's coming in the morning! I'm gutted. Goodness knows how much it's going to cost me. I've looked into my home insurance but it's £200 excess and then a FURTHER £200 for any water damage! I have £150 saved for Christmas so far so will have to just use my wages (when I get paid) and my overdraft. If it's mega bucks I'll have to borrow it off my parents.

Just proves you need an emergency fund - pity it takes so bloody long to accumulate said emergency fund.

Poor_Single_lady

Really sorry about your water damage. Hope its not a sleepless night for you're and the house recovers. That must be very hard. xxx

Honeysucklelou2

Just found and read your diary. I work as a teacher and it is amazing how little spends to buy resources to help with lessons soon mount up. Hope the water pipe problem gets resolved. Must get started on an EF myself.