Debt Demolisher

DancingUnicorn

Hi,
Just caught up on your diary. I like the idea of rounding down accounts. Now I have an online savings account I'm going to give this a go (I overestimate all my bills then end up wasting the difference between what I overestimated and what they were. Even if this is only 50p in some cases, it will soon add up!).
I love your savings goals - the idea of having them separate makes total sense. I was also worried about having savings while in a DMP but everyone on here told me it was essential and that no one else can see it (I was worried DC's would come knocking and know I have some money stashed for when the proverbial hits the fan!).

I think I'm going to save up for F&F's too. Do you have any info about how you go about this?

Keep up the good work and stay positive!
DU

Bobarella

motivated wrote: »

Thanks Bob, and very well done for coming as far as you have. When I see things like this it proves to me that it is doable and I can achieve my goal of being debt free one day.

The excellent advice I've had so far is what has given me the strength to deal with my mess and I can honestly say I have never been this organised financially.

DH has been paid today so we will be able to adjust our budget and accounts and hopefully will have some more to add to savings.
M

You totally can do it! There is no reason why you can't. :T

motivated

DancingUnicorn wrote: »

Hi,
Just caught up on your diary. I like the idea of rounding down accounts. Now I have an online savings account I'm going to give this a go (I overestimate all my bills then end up wasting the difference between what I overestimated and what they were. Even if this is only 50p in some cases, it will soon add up!).
I love your savings goals - the idea of having them separate makes total sense. I was also worried about having savings while in a DMP but everyone on here told me it was essential and that no one else can see it (I was worried DC's would come knocking and know I have some money stashed for when the proverbial hits the fan!).

I think I'm going to save up for F&F's too. Do you have any info about how you go about this?

Keep up the good work and stay positive!
DU

Hi Dancingunicorrn and thanks for popping in.

The rounding down accounts works quite well, even if it's 16p I send it to one of the savings accounts. It soon builds up and it keeps the main account at even numbers.

I actually have 4 online savings accounts now I thinks that's plenty don't you.
I have the main account where wages go into and DDs go out from. I have a top up debit card. This is the only card we have for spending online or in shops. I only load it with what we can afford to spend. It actually works quite well. All these with the same bank so it's easy to transfer money etc and all easily accessible from my phone app.

As for the F&Fs I have absolutely no idea what you do or how you do it. From what I've read on the DMP thread if a debt is sold on to a debt collection agency that puts you in a good position to offer a % of what you owe to clear the debt and close it. January2015 is the DMP queen I think . She is the one that showed me the way and convinced me to bite the bullet and ring SC. So glad I did.

I've only just asked DH how much money he will need this week as I am about shift money around accounts again. Whatever he says I will offer him a lower % and try to undercut him :rotfl:
M

motivated

Have managed to shift some funds around the accounts and add some to different savings. Every little helps.

We have done the grocery shop and have topped up Gas/Electric, paid the weekly bits that we do like the TV Licence. virgin package. I find doing it this way easier as DH gets paid weekly. Then when the Virgin bill comes in its more or less paid. The TV licence I have been doing it this way for a while now and when my new TV licence came I'd already paid for this year and have started on next years already . Just by paying £5 per week.

Goals

• Car Tax, Insurance, Vet Bills account - £101 /£750 ish. Needed for around March 2018
• Christmas Fund - £70/£500
• F&F Savings Account - £74.08
• Emergency Fund - £1,500

I also have my DMP payment in one of the accounts but I haven't added this as it's due to go out on the 1st. Then I can see my overall total come down a little more. It will actually go down in to the next thousand :T
M

motivated

:eek: just stepped on weighing scales :eek:

OMG Im 2 stone overweight :mad: That's it I'm never eating again. It's no wonder most of my clothes don't fit me anymore. I convinced myself thought I'd shrunk them in the wash :rotfl:

Also for the past couple of days I've been thinking I need some new work clothes and have been looking online. NO WAY AM I BUYING ANY !!!!! I've just dragged out my wardrobe which consists of a mixture of styles and sizes. I have recycled my wardrobe and moved the fatter sizes to the front until I lose weight (again). Don't actually need any new clothes for work, it's a good job I just checked before spending a load of money that I didn't need to . Very :money: A few months ago I would have grabbed the CC and headed of to the shops and not given it a second thought about how much I spent either. Hence the reason I have clothes in all different sizes. This is what I have done on a few occasions. Not any more.

Definitely the wake up call I needed. I was following Slimming World and lost 13lb without even struggling but gradually I slipped back into old habits and put it all back on and more besides :wall:
Have a good weekend all
A big fat M over and out

Cherryfudge

motivated wrote: »

I've only just asked DH how much money he will need this week as I am about shift money around accounts again. Whatever he says I will offer him a lower % and try to undercut him :rotfl:
M

I love it! Think you may have a top budgeting tool right there (not referring to your DH in particular, but to all discretionary spending). :rotfl:

Cherryfudge

motivated wrote: »

:eek: just stepped on weighing scales :eek:

OMG Im 2 stone overweight :mad: That's it I'm never eating again. It's no wonder most of my clothes don't fit me anymore. I convinced myself thought I'd shrunk them in the wash :rotfl:

Commiserations. An all-too-familiar story.

motivated wrote: »

Also for the past couple of days I've been thinking I need some new work clothes and have been looking online. NO WAY AM I BUYING ANY !!!!! I've just dragged out my wardrobe which consists of a mixture of styles and sizes. I have recycled my wardrobe and moved the fatter sizes to the front until I lose weight (again).

Did you see the recent episode of Shop Well for Less, where the woman had very successfully lost weight and now couldn't stop clothes shopping? They then made her a capsule wardrobe on a little rail and didn't let her have her rooms full of clothes for a week. By midweek she was getting desperate for something new to wear, then she got inventive with what she had and by the end of the week she was completely converted to having a minimal but versatile wardrobe. I think the point of it is we tend to buy variations on the same things (I know I do, in a big way) and really we could do with doing just what you're doing - pulling everything out and finding what we can do with it. Mind you I did the Kon Marie method for some parts of my wardrobe and that was amazing too.

Hopefully you will soon be going down a size and then you can play clothes shopping in your wardrobe again.

motivated

Thanks Cherryfudge

To be honest I found stuff I'd forgotten I even had. I must have found 8 pairs of the old faithful black work trousers maybe quite a bit of mixing and matching is needed. I tend to wear the same things together rather than being inventive.

I aim to lose some weight and then recycle my sizes again lol. I need to check out this shop well for less show too. Thanks for the tip.

Am currently sat here playing around with YNAB and learning new things. I like the fact that I can see all of my accounts and their balances on there. Still have a lot to learn though.
M

Bobarella

I have to say it's something I've read quite a lot on here though that people find they put on weight whilst debt busting. It could be the stress. Or feeling bored of not going out etc so eating more to cope with those feelings. I don't know. But you are definitely not the only one.

motivated

Bobarella wrote: »

I have to say it's something I've read quite a lot on here though that people find they put on weight whilst debt busting. It could be the stress. Or feeling bored of not going out etc so eating more to cope with those feelings. I don't know. But you are definitely not the only one.

Maybe that's it Bob. Also the fact I've had 2 weeks off work and not done too much to be honest. Quite looking forward to getting back into a routine and taking lunch to work so I'm not tempted to pick all day. Little pickers wear big knickers :rotfl:
M