Small Steps Out Of Massive Debt!

Bobarella

You are doing loads! So great.

The 1% thing is an eye opener isnt it.

Really hope the challenges help you along.

mummytogirls

Evening GC, just popping in to offer my support and say hi :A

You are doing so well so far, keep going! Well done on the change of gym and also the listings on eBay.

I really like the NSD's at the moment, got 14 in January so would like as many this month xx

boxofpaws

I have been reading your diary since you first posted, but not had chance to post until now. Well done and what you have done so far. I'm totally with you on your plan to change your habits, I think the 'no additional debt' is a brilliant start. You (and I) need to make this sustainable. I love your attitude to it all. :T


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JoJoC

You're making so many inroads GC!

I do wish I had more time on my hands to sort through stuff for eBay but every minute seems to be taken up by working full time, keeping a house, spending time with my boys and collapsing on the couch. Maybe if I can aim to do 30 mins a week that would be a start!

That 1% figure really is a shocker isn't it - really makes you think when you put it like that. I'm trying so hard to not just see numbers, but place actual value on every pound.

Big_Hairy_Spider

GeorgianaCavendish wrote: »

... Never wanting to be the friend who suggested a cheaper restaurant or bar, or turned down an invitation because of the cost, I would rather add debt to my credit card than admit that I couldn't afford something. Being skint before payday and then going crazy as soon as I got paid with all the little "treats" like takeaway coffee, a fancy bubble bath, a pedicure or something ...

^This^

Good luck with your budget plan. I've just linked this thread into an email to a friend who is going through the same. I think there is some really good advice coming from everyone.

Particularly resonant to me is the need for an emergency fund. When you're building this up it just feels like another debt until you get to the amount you have in mind doing so, but it's a debt to yourself. I've had one for years, and slowly increased the scope to include a buffer zone for dental, eyesight, car and MOT etc... As well as having the money already set aside, for me there's a strong sense of self-wellbeing that emanates as a result knowing it's there and not wholly having to rely on my pay cheque.

GeorgianaCavendish

mummytogirls wrote: »

Evening GC, just popping in to offer my support and say hi :A

You are doing so well so far, keep going! Well done on the change of gym and also the listings on eBay.

I really like the NSD's at the moment, got 14 in January so would like as many this month xx

Thank you so much, I need all the support I can get 14 NSDs is brilliant - that is nearly half the month! I have picked Sunday as my very first NSD (mainly because there will be no direct debits going out of my account on Sunday!). I was hoping today would be one too but I'll need to buy lunch because the business lunch we had planned has now be rearranged.

boxofpaws wrote: »

I have been reading your diary since you first posted, but not had chance to post until now. Well done and what you have done so far. I'm totally with you on your plan to change your habits, I think the 'no additional debt' is a brilliant start. You (and I) need to make this sustainable. I love your attitude to it all. :T


I have subscribed

Thank you boxofpaws! I read your diary last night and so many things resonated with me. I've started to think that debt busting is a lot like dieting, if the plan is too complicated or too restrictive then I'm only going to stick to it in the short term. I loved your idea of mindful spending, this is what I'm going practice as well as the no-additional debt challenge.

JoJoC wrote: »

You're making so many inroads GC!

I do wish I had more time on my hands to sort through stuff for eBay but every minute seems to be taken up by working full time, keeping a house, spending time with my boys and collapsing on the couch. Maybe if I can aim to do 30 mins a week that would be a start!

That 1% figure really is a shocker isn't it - really makes you think when you put it like that. I'm trying so hard to not just see numbers, but place actual value on every pound.

Ebay is such a chore! I thought it would be a quick win but it is actually very time consuming, if I didn't have the day off this week I don't think I would have got anything done. I'm going to try to get another 10 listings up this weekend and then I think I'll challenge myself to one listing per day until I've finished. There are only so many ways I can paraphrase "gorgeous dress! please give me a lot of money for it!!" :rotfl:

GeorgianaCavendish

Big_Hairy_Spider wrote: »

^This^

Good luck with your budget plan. I've just linked this thread into an email to a friend who is going through the same. I think there is some really good advice coming from everyone.

Particularly resonant to me is the need for an emergency fund. When you're building this up it just feels like another debt until you get to the amount you have in mind doing so, but it's a debt to yourself. I've had one for years, and slowly increased the scope to include a buffer zone for dental, eyesight, car and MOT etc... As well as having the money already set aside, for me there's a strong sense of self-wellbeing that emanates as a result knowing it's there and not wholly having to rely on my pay cheque.

Thank you so much! I really hope this thread helps your friend, it is not nice facing up to how much debt I'm in but I am getting so much support and advice from this forum that I feel really optimistic.
I agree about the emergency fund, I would be so much less stressed if I knew I had a buffer for emergencies and eventually to cover things like dentist appointments, boiler maintenance etc.

GeorgianaCavendish

Today I had two minor set backs.

Firstly, I received my February Barclaycard Statement and the balance has increased. I've checked and this was for a hotel reservation I had to make for work (trip is not until May), the hotel said they needed my card details just to hold the reservation but I called them again today & they said because I've got a special rate they charge the first night in advance. I will get this money back eventually but not until after my trip, so that is a bit of a bummer and has set me back on my NO ADDITIONAL DEBT challenge (and it is only the THIRD of the month).

Secondly, I was supposed to be going to a business lunch today which would have been paid for so didn't bring a packed lunch with me. Now the lunch has been cancelled so I will have to buy something. I even contemplated making an emergency sandwich this morning but then thought that would be a waste of food because I wouldn't need it.

I suppose that these are both things that can go in my !!!!!! happens / lessons learned file. Next time I can triple check about booking conditions with hotels and special rates, and maybe I can keep some emergency ration in the kitchen at work, but at the end of the day, sometimes stuff happens and I need to be able to deal with it without thinking "oh well, if I'm spending money anyway I might as well buy XYZ too".

I'm just waiting for my MBNA statement for Feb and then I can update my debt totals.

JoJoC

That'd frustrating about your setbacks! I'm so glad that i have a company card now for these things. I didn't at my previous job and the expenses cycle is horrific!

Is there any way you can submit expenses for that first night now? Otherwise you're being charged the interest on that cost until may! Or can you charge the company your interest as part of your expenses?

With the lunch, I used to fall into that trap often so I always keep a tin of soup, some mug shots and a packet of cous cous in my drawer for emergencies. I don't always choose to use them but the option is there if I need to.

EBay is really time consuming, but I've also tried local selling groups and Gumtree but they're not much better and you have more chance of people messing you around I think. I've got so many kids clothes in the wardrobe that don't fit so need to get my !!! in gear with that!

Disco_Dolly

Just catching up, I really must start listing stuff on Ebay again, I definitely have a few dresses that could go up.

Setbacks are a pain but you definitely have the right mindset. :T