3rd Time Lucky?!- Attempting to clear £6645.93 of debt in 105days (3months+13days)!!

PositiveBalance

H Shelbi :wave:


Emergency fund done by the end of June? I am impressed!


Don't talk to me about food spends...I haven't had a 'big shop' since I came back from holiday and seem to find myself buying bits an pieces left, right and centre. I need to sit down and make a plan and stick to it! I went to make myself a vegetarian curry the other day and discovered that I didn't have two of the three tins I needed in the cupboard. Grr! (That's my skint-end-of-the-month veg curry recipe, except it's the beginning of the month!


Keep going...focus focus on the EF. Imagine how good you will feel when you get that done!

Shelbi

Hi PositiveBalance


"Emergency fund done by the end of June? I am impressed!" Thank you I'm still not sure I can make it but I'm going to give it a shot..worse case scenario I wont hit it but will be alot closer than if I didnt try:D


"Don't talk to me about food spends...I haven't had a 'big shop' since I came back from holiday and seem to find myself buying bits an pieces left, right and centre. I need to sit down and make a plan and stick to it! I went to make myself a vegetarian curry the other day and discovered that I didn't have two of the three tins I needed in the cupboard. Grr! (That's my skint-end-of-the-month veg curry recipe, except it's the beginning of the month!" This tickled me, Thats so me, can never plan and stick to it and when I do I never have anything that goes together..also always go in for a few bits come out with more I dont know how everyone does it- Hope the month gets better hun, or at least goes quickly- I too will be spending the month on cheap go to meals- lots of soups, beans on toast, and pasta= my main food groups for the forseeable:rotfl: to Moneysaving :beer: Hoping my new found frugaldom will help me shed some pounds:j:j


"Keep going...focus focus on the EF. Imagine how good you will feel when you get that done! " Thank you Honey Ill give it my best shot..hope the meal planning goes well and the debtslaying!! Onwards and upwards!!:beer::T:dance:

Shelbi X

Shelbi

I had a good day today, managed a NSD which was ace, also I received £250 (an IOU from a dear friend):j so that went straight to the EF account, and sent 2 quidco referrals to some friends, 50/50 split- one hopefully will save some money on a holiday shes booking if she uses it, so it is win win and saving on money pleases me no end.:D
Still no freepostcode lottery wins but I forever remain optimistic!!:D

I have £492.67 left in my account left over for the month...so the budget as it stands is:

£95.26 left in the grocery budget
£7.99 Netflix
£20 Socialising fund
£5 Oyster top up (for out of zone)
£6.30 Beauty fund
£50 gift fund (fathers day/birthdays)
leaving £308.12 possible for the EF (with a bit of luck)

Three weeks to payday...come on!!

Have a wonderful evening guys...

Shelbi X

Shelbi

Happy Wednesday Guys!! half way through the working week:j
So today has been a NS morning, OH gave me £160.00 towards the leccy & gas bill I paid bless him:happyhearwhich was lovely as I wasn't expecting it and was happy to cover it...


so that has gone straight into the bank and to my EF fund as well as some change I had in my purse.:j


Managed to bring in lunch, and have HM breakfast...that's all that's happened so far today, other than work work work:) X

Shelbi

Good afternoon guys, so today I'm on task for a NSD, I brought lunch and breakfast in (got to love leftovers). Ive been wracking my brains trying to think how I can hit my target of £5000 emergency fund before the 30.06.18 of today I'm £2217.74 short...I need to get this down.

As the great Steve Covey said "As long as you think the problem is out there, that very thought is the problem!- So I need to start looking at me and the way I see things/act- So Turning to my mind for solutions and thinking outside the box here goes....

Lets say If I got hit with a £5,000 bill payable on 30.06.18 how would I pay it. Would I use credit card- Nope thats not really my money and Id only have to pay it back. Could I use the money in stocks and shares- No- Id have to sell, they would take 10days plus - so no couldnt use that). Could I use my money stuck in premium Bonds- Yes, its mine, I could get to it in a few days, its only £200 but I can use it.

That brings me down to £2017.74, ok how would I cover that, well I have £449.26 remaining balance still sitting in my account, if dad's Fathers Day gift is £10 or under (sorry dad) and I do 2 frugal £25 food shops, that will leave me £399.26 to move into the EF fund leaving £1618.48 still to save. Question could save £1619.48 from my salary in June, bearing in mind Ill be receiving £387 less due to increased season ticket loan deduction and increased pension deduction? Well yes if I go stealth frugal for July...Im talking NSK style.

Welcome to my mind/thought process. Ill need to rejig my July budget but it is doable!!! ill give it some thought and head back- July has a lot of birthdays!!! this will need some thinking... Sorry for the ramblings- figure if I get my thoughts down It will help me formulate a P.O.A.. Would really love to be in a position to start saving for a house deposit with July's paycheck;)..right time to head home! have a fab evening Team MSE.:D

Shelbi X

Shelbi

Afternoon diaryland,so after much thought and come down from my coffee high Ive decided I will not be living on a shoe string to reach £5k by end of June, if im honest I think Im done with that and would rather have more balance- slow and steady less chance of me falling off.

Im out of debt and have £2.7k in my EF, i figured as I have no dependents, or house a 3 month emergency fund will be just fine for now and totting up my expenses that id absolutely have to pay out per month (£870) I figure if I put another £300 in there to make £3k we can call that George.

July I will just budget a normal month with some fun built in , a small offering to kick of my house deposit saving, and just relax..

Have a wonderful weekend all...

Shelbi x

Magpie100

Hey Shelbi,

I was relieved to see your last post! I agree £3K for an emergency fund for you is fine - as you say, you have no dependants or house so that should be plenty and you can start saving for a house deposit when you are ready. You've done so well and are in a great position - I would hate for the 'all-or-nothing' mentality to be back where you deprive yourself of everything and then it backfires. You sound so on top of things now - it is great to see! Onwards to a house deposit!

PositiveBalance

Shelbi wrote: »

Afternoon diaryland,so after much thought and come down from my coffee high Ive decided I will not be living on a shoe string to reach £5k by end of June, if im honest I think Im done with that and would rather have more balance- slow and steady less chance of me falling off.

I hear ya!

Shelbi wrote: »

Im out of debt and have £2.7k in my EF, i figured as I have no dependents, or house a 3 month emergency fund will be just fine for now and totting up my expenses that id absolutely have to pay out per month (£870) I figure if I put another £300 in there to make £3k we can call that George.

Your EF is called George? I never thought to give them a name! :rotfl:


*Ponders over what to call her own EF*


3K sounds fine under your circumstances.

Shelbi wrote: »

July I will just budget a normal month with some fun built in , a small offering to kick of my house deposit saving, and just relax..

Have a wonderful weekend all...

Shelbi x

I'm delighted to hear that you will start saving toward your house next month. Without going back through your diary I can't remember if you have one of those house deposit savings accounts (LISA?) or if it is worth if for you.


You've done really well so far (:T) but let's think concretely here: how much are you aiming for in terms of deposit and how long do you think it will take you?


What is your budget again?


Have a lovely weekend and congratulations on moving forward so positively with your money.

Shelbi

Hi Magpie100 & Positivebalance :wave::j:j

Thank you guys, I think it should cover me for any emergencies that could come up:) I also feel alot better now that ive taken the pressure off my self setting overly challenging goals.

Very happy on moving onto the house/flat deposit Im thinking id need about £20000-25000 if im honest maybe a little more (10%) I live in London and property is quite expensive, saying that I may look just outside london and will prob opt for a flat rather than a house as they're cheaper. Id like to not do a share to buy as I think they work out more expensive, but ill see what I can get nearer the time

Id be looking for a 2 bed if possible. I think it will take me a year and a half - two years.

:rotfl::rotfl: No positivebalance I didnt name my account, "call that George" is something people say around me, it means job done, have no idea where exactly it comes from or why... Although I quite like the idea of naming my accounts:D

I wont be able to get a LISA or a help to buy as I wouldnt be a first time owner (sadly). I did open up a regular 5% saver today £250pm, EF is sitting in a fixed easy access 5% current account with nationwide. TSB which gives 5% upto £1500 so I will fill that up next. after that ill search for another good savings account. Ill get there eventually.

I will do a new SOA a bit later but Im hoping to save between £750 to £1000 a month (More if i get any bonuses at the end of the year), though ill know alot more Ive done the SOA... I hope you guys are having a fab Weekend..Hugs!!

Shelbi X

ladymay

Hi Shelbi,


Just wanted to say congratulations on how you're doing!


I'm in a similar position to you - after some financial pickles through the years, I'm now working on my EF and deposit. I'm looking forward to reading your journey and seeing you achieve your goals :beer: