Back to being a DFW..AGAIN!

Eyebright

Enjoying your diary, you sound very motivated. I have subscribed

WantToBeSE

Morning All

Welcome Eyebright Thanks for subbing!

So, it's been a few weeks since i last updated.
For those of you who dont know, my 1st step is to save a £1K emergency fund, before starting to clear my debts.

I've saved £800 and by the end of this week i should have the £1K

Then it's on to paying off my debts!

I had to buy some new workout clothes, as i have started the 'Couch to 5K' podcasts. Feel free to join in if you like
https://forums.moneysavingexpert.com/discussion/5520685

But i still managed to save some money this month, so i am pleased with that.

I've managed to spend a little less on food this month...probably because the boys are back to school

All in all, a good month so far

WantToBeSE

Wow, it's been a while!

Since updating last i have:

-Saved £1000 Emergency Fund
-Not added to any debt
-Paid all the minimums on my debt
-Saved £500 for Xmas


My next plan is to save £3K towards a car.

I know this seems a bit backwards but i have a method. I am 100% certain that my car is going to give out on me soon, and i need a car to get the kids to school, go food shopping and also to get to work etc.
If i dont have any money saved towards a car, then as soon as i need to buy a new one, it'll get me into more debt. So i am going to save money for it instead.

Then, once i have the car money saved, i am going to hit the debt hard.

WantToBeSE

Car Fund- £20

Good Afternoon

This week i have

-Phone up my water company and had a form sent to me, to cap my water (its because my son is disabled, i can get reduced water rates). It should mean that my quarterly bills half.

-Phoned up my Utility provider and had them refund me £100 ( i was £100 in credit, plus i only use £18 a month in electricity and i currently pay £45 a month).

-Put my first payment into my car fund. Granted, it was only £20..but every £ matters!

-Also, in November i have joined the NOvember debt free challenge. So i am not spending any money, other than what i have budgeted for in NOvember. I am having NSDs (No Spend Days) on Tues, Thurs and Sundays.

- I CUT UP 2 OF MY CREDIT CARDS! I am having a mini panic attack over this right now, but i am so pleased i did it!

-Started C25K again. Running days are tues/thurs/sat (although this week it'll be tues/fri/sun).

-Asked my friend to return the £90 that she owes me. She is doing that ASAP.

I have also decided to do small things to save money. Things like

-(please dont think I'm gross!!) Not flushing the loo when the kids are at school and i am home alone..to save water.

-Keeping the heating off during the day when the kids are at school. I'm only putting it on first thing in the morning for 10 mins, while we all get dressed, then maybe in the evening for an hour if it's cold enough.

-Only boiling the kettle for the amount of water that i need

-Using the microwave instead of the hob, to heat things up and steam things.

-Turning things off at the plug socket (not sure if this one actually saves any money?)

So hopefully bu next week the car fund will be at £210 (£100 refund, £90 from friend and the £20 already in there).

lynnejk

Hiya

Was wondering how you were doing ? Pleased to hear you still making progress and have an emergency fund set up

Yes - all the 'little' things you are doing will save monies, including switching off instead of leaving on 'standby'. Also, unplug things like phones as soon as charged - save some more. Also, it's cheaper to use a laptop plugged in rather than recharging the battery.

Lots of small things do add up. Don't forget things like sorting any draughts, closing curtains before dark and adding an extra layer instead of upping the heating this time of year.

Personally I would pay off debts asap, as they tend to charge a much higher interest rate than a car loan would if you needed one quickly. Maybe you would like to have a check on that ??

Good luck for the coming month and hope you find other savings
Lx

WantToBeSE

Hi Lynne, thanks for the tips!

I was thinking about the car thing. But to be honest i'd rather not have any car loans/credit/money owing. I am hoping (fingers crossed, if i don't fall off the wagon again ) to not have debt for anything except maybe one day a mortgage. Thanks so much for thinking of that though, as if my debt wasn't 0% and possible to clear off quite quickly, a loan would definitely be the better way to go

I'm on a 0% for most of my remaining debt, until the end of 2017. So i am confident i can save for a car and clear my debt by then....

Honestly, i dont know whats happening at the moment, i seem to be having money thrown at me left, right and centre! Not complaining though!

As well as the refund yesterday, i also opened my post this morning to find a £21 voucher for Amazon! It came from my Utility Company, as i get a discount for my dual fuel.
So i have opted to spend that on an Amazon gift card (you get the option of choosing M&S, Sainsburys, Love2shop or Amazon gift cards). And that will go straight towards my younger sisters Christmas present, which means i now only have my 2 children to buy for!

WantToBeSE

Afternoon All

Planning another NSD here today. I've also done some batch cooking.

I am making my son some cheese & Onion pasties, so that i dont have to spend loads of money on packed lunch things. He'll be happy with a pasty and piece of fruit or malt loaf

I made some vegan pumpkin brownies that taste yummy! Got the recipe from here, just swapped out the sweet potato for pumpkin https://deliciouslyella.com/new-and-improved-sweet-potato-brownies/

WantToBeSE

Afternoon All

So yesterday i received:

- a £10 giftcard from Tesco (they hadn't updated my new address and my clubcard vouchers were sent to my old address)

-£150 from a member of my family for Xmas (this was a bit of a surprise!)

-£200 maintenance from the father of my children (he pays bi-monthly, £100 a month)

-£90 from my friend (i paid for her plane ticket in the summer, so this is money that she is paying me back for that)

I'm trying to figure out what what to do with the Tesco giftcard, considering i dont shop there at all. I was thinking about saving it for Xmas food.

The £150 from my family member came out of the blue, but is much appreciated. That is going straight into the car fund.

The Maintenance is spilt 3 ways, 1/3 goes to each of the childrens bank accounts ( for clothes, school trips, extra expenses etc) and the remaining 1/3 goes into my bank to cover bills etc. HOwever, this month i am up to date on all bills, dont owe anything, so it's going into my car fund too.

The £90 also went straight into the car fund.

So...after much thought over the past few days, i have changed my mind about the car.
I am going to save £1000 in my car fund, to cover MOT (due in January) and any repairs it needs in the next 12 months, and concentrate on paying off the debt first. It makes more sense.

So at the moment i have my £1000 EF and also £730 in my car fund. So by the end of this month I'll have the £1000 car fund, then i can start hitting the debt.

Making the brownies, pasties and calzones really made a huge difference to my week financially! The boys were happy to munch on those instead of moaning at me constantly to go and buy more junk food.
Pasties, calzones and brownies are not the most healthy foods, granted, but it's what they like and it saves me a fortune. Plus, they eat loads of fruit and veg anyway.

Today I've done an early food shop, spent £55 at Morrisons (used a £5 more voucher) and i wont be doing any more spending.

Bobarella

Wow you are doing so well! I'm excited for you. Nothing like a good vicarious buzz of MSE power from a fellow Turtle

WantToBeSE

Bobarella wrote: »

Wow you are doing so well! I'm excited for you. Nothing like a good vicarious buzz of MSE power from a fellow Turtle

Thanks Bobarella This time of the month is alway good financially, as i get the majority of my income now, and can save the most.
The rest of the month will be pretty quiet in regards to how much i can save.

I am due a tax rebate of £90 soon, but not sure how long that will take to come through (hopefully next week!) and it'll so straight into the car fund too.

I cant wait to start on the debt repayments next month!