Table for One

Princesssparkle

Hi,

I've been lurking these boards for many years now but never plucked up the currage to make my own diary! But today's the day!

I'm a single girl, mid-twenties - about to brave it alone!

To give a bit of background, I have always been very good with my money and never stepped out of line with my budget.... Until a few years ago when my ex and I decided to renovate a house. At that point, not only did we get the big financial pressures of owning our first home, we also ploughed all our savings into the renovation, any income went towards it and we also got a loan. This left me broke!

I used tips from here and cut back on things to try to make my wages work but each month I was -£60, which went on my credit card. I had holes in my clothes and couldn't afford anything whilst the ex OH was gambling his spare cash away.

All of these stresses took tole on our relationship and we have parted ways. House sale due to complete shortly.

With the profits from the sale I will be able to pay off all my debt (although not massive it plays on me) and also have enough to put 10% down on my very own house!! :T:T:T:T

I have started this diary to make good habits again, to get a full understanding of my budget and my financial situation and to not get myself into the same mess as before!

Hope to do some sort of financial summary soon but don't really know where to start.

xoxo PP

beanielou

Happy shiny new diary
Keep posting!

AnxiousHomemaker

Hi, look forward to reading your diary! i'm a newbie too! I have faith in us both xx

Princesssparkle

Hello! Thanks for popping by.

Wow Beanie your signature is an absolute inspiration! Both money and weight loss. Well done.

AH I'll be over to yours in a minute. Newbies together

Hoping to come on here regularly just to confess what I've been doing. Had a bad week this week but that doesn't mean I can't start a fresh tomorrow!!!

Ive purchased lunch every day this week rather than taking it to work, I've also had mcd's brekie this morning. Total: £21.69

I have a pony (probably why I'm here) she cost me £8.50 for a worm sample this week - fortunately came back all clear.

Bought a festival ticket £50
New hair dryer attachment £9.50
Petrol £76.00 but I have got a full tank which will do me a couple of weeks.
Work trousers £30.00 - did need these.
Dog treats & power bank charger from home bargains £5.35

Total: £201.04 wow!!!! I can't carry on spending like this!!!

Upcoming costs for next week:

£50 - desperate for a new pair of wellies. I managed to hold out all winter with the intention of buying some new ones in September but we're having such a wet summer I actually need them now! They should last me a couple of years though.
£50 - pony's shoes next week
£56.50 - beauty insurance for the year
£36 - eyelash glue for beauty
£30 hair cut
??? - meal out with friends
£5 - yoga
??? - food

The week after that is the festival I've bought a ticket for so there will be food, drinks and taxi for that and then my car insurance is due for renewal too. Need to start shopping around for that.

I think it's easy for me to see where I can cut the spends out! It really helps writing it all down.

I still need to do a tally of debt. I just don't quite dare at the moment. I do have it written down I just wince a bit when I see it. It will be cleared when my house sale goes through, that doesn't mean I can keep spending as I am though!!

Sorry for rambling. Off to do some jobs in the field soon, going to take the dog too so I can kill two birds with one stone!

louby40

Hello and welcome. Everyone is really supportive here.

If you go on the main board theres's a budget planner tool that you can use, or you can do a SOA & post it to get advice.

What is beauty insurance? Is that monthly or yearly?

Keep posting

Lou

Princesssparkle

Hi Louby thanks for stopping by. I've just done a soa but got a little frustrated as it wouldn't let me copy and paste it on my iPad. I'm not sure how beneficial it would be right now though as I'm still paying for my old house, living with my rents and also paying for solicitors, valuation surveys etc etc. And assets will change. Think I'm going to do another, better one when I'm in my new house. It has however made me tally my debts up!

Family: £4,081.19
Cc: £845.69
Overdraft: £217.74
Total: £5,144.62
Ex and I have a loan together which we will be paying off with house profit. It was due to end in October anyway and a rough estimate at the figure to pay is: £1,050

Got the information through from my solicitors today on actual profit from the house sale. After all outgoing a and taking our loan off, I should end up with around £23.4k

Put £9.5k deposit on my new house
Pay around £750 in completion bits with solicitor etc.
Pay off £5,144.62 debt
And I'm left with just over £8k

I know it seems a lot left over and part of me wonders if I should put more into my new house but then another part of me knows I need to start building pots up. Here's what I think I need and advice would be welcome.

Car pot: not sure on amount but my car is 12 years old, bound to need fixing when I can't afford it

Horse pot: I've been paying £650 per year for insurance I've never used for the last 10 years. Pony is classed as a veteran now so insurance won't cover hardly anything. Thinking of getting insurance which would cover us for riding on the roads & damage to anyone's property should that happen but I need a savings pot for if the worst happens touch wood she's in excellent health atm. Think I need about £3k saved here.

House repairs: I'm going to be on my own and monthly outgoing a will be a struggle as it is. I need a bit of a safety net.

Do you think I need to keep my money pots separate or just one savings account?

Been to the shop today and managed to get my dinners and lunches for the week and only spent £8.50 hoping to have nsd's for next two days and got annual leave in for Friday so that's saved on petrol

Thanks for letting me ramble guys. The rambles will get shorter when my head doesn't have so much swimming round in it feeling more focused already.

xoxo PP

louby40

Hi Princess

I'm no expert but separate pots seem to be the way to go. I have 3 savings accounts at the moment that I send money to. I'm sure some other lovely people will come along and advise you better.

But well done with the forward thinking. I split from my ex in Dec 13 and eventually bought my own house last year and finally was free from financial links with him - it was such a relief!

Good luck

Princesssparkle

So nice to hear such a positive story Louby.

Thanks. I feel I need it right now

Baldybear

Morning, subscribing good luck

I am very similar to you, have just bought out ex from my house, he was terrible with money, still is, so pleased to have a clean break. My next relationship will need to be with someone who is on the same mindset as me.

I have a pony too, my advice ditch the insurance, put some of your money away in a separate savings account in case of emergency vet bills and sign up to BHS Gold membership which covers you for public liability insurance, for accidents on the road etc. Well worth the money.

Re separate savings accounts I do this and find it works well as know exactly whats in each pot and what I can/cant touch. For me have horse (£1k emergencies plus annual bills), emergency fund (6 months living expenses), car, insurance (for car mot, tax, insurance, home insurance etc), fun days out, holiday, general house repairs fund. At the moment am just starting to top these up so not at target yet but getting there I have set targets and then broke them down over 12 months so know how much I need to put away each month.

Also re the horse does he need shoes or could he go barefoot, saves you some money there!

Good luck

Princesssparkle

Hey Baldybear! Wow I can't believe how similar our situations are! Your horse looks like a right cutie It's good to have someone who understands you sound like you've managed to get your situation under control really well. That's exactly what I want to do with my savings pots, how did you go about starting them up and working out how much to top them up by each month?

I don't know if I mentioned before but I also want to set up an account for my horse because summer is so cheap because they stay out 24/7 and then winter just skints me, I want to spread the cost over 12 months so I can build up a pot of money for bedding etc in winter.

That's exactly what I was thinking for bhs insurance. Nfu quote came through this week at £700 :eek:

In terms of shoes - my ex is a farrier so paying that has been a shocker anyway haha. She had only fronts on for quite a while but we've started doing pleasure rides this summer and had to have a full set so no chance of going bare foot.

Should be handing the keys over for the house we're selling this week. Going to be really stressful but it's the first step on my journey to the beginning of a new chapter of my life.

Maybe when I'm in my new house I can start operation man hunt :A

Ok here goes for the week summary :(

Food: £20.07
Socialising: £33.00
Horse shoes: 50.00
Hair: 20.00
Total: 123.07

Then I'm going out for coffee and cake with a friend tomorrow

Next week, I have a quarter a tank of petrol left but only working 2 days with moving out next week so should last me. Will end up going to nandos or something with my friend so that'll be a tenner and then I've got the festival at the weekend, I've already bought my ticket so will just be drinks and mum is playing taxi I reeeeeally want some converse to wear though but I know I'm already living a life I shouldn't!

I just feel like I suppressed myself so much before, unrealistically that now I feel like I need to see my friends all the time and have nice things. not a good way to look at it!!!

I'll be paying about £40 for my storage unit and £20 to my friend who is helping me move with her horse lorry.

Need to get focused and on track!

Thanks for reading.

xoxo PP

Princesssparkle

Oh **** my car insurance is due next week