£15,000 to 0

lonelyrat

Hey Silver Queen - how are you doing? Hope your cash based system is working well! :cool: I've been noting down all my spends and it's quite scary the amount of rubbish I buy! Must really try harder

Silver_Queen

lonelyrat wrote: »

Hey Silver Queen - how are you doing? Hope your cash based system is working well! :cool: I've been noting down all my spends and it's quite scary the amount of rubbish I buy! Must really try harder

Hi lovely, glad to hear from you!

To be honest, I had a bit of a nightmare month last month leading up to a big project that we had on. A lot of hard work, late nights and networking (i.e going out for drinks and dinner with clients and other professionals) which meant spending, and the credit card did come out. I'm seeing it as an investment in my future, in my field it's really important to make connections with other professionals and everyone is expected to just have endless funds. It wasn't too bad in the end though.

Went on a short work trip recently and ended up tacking on some extra days for a holiday (paid for by myself), wish I hadn't though because I was working the whole time and it just wasn't worth it!

Will be going on holiday again in two weeks' time. Why do I do this to myself?! :rotfl:

Hope everything's been okay with you xxx

lonelyrat

Socialising is sometimes part of the job and I would see it as an investment too! Are you finding the job any less stressful/ better? Hope you've made some connections. I wonder if everyone does have endless funds or if it's all credit.

That's a shame about the work trip/ holiday... Lesson learnt I suppose.

Am going to live vicariously through you so where are you going on your next trip please? I will begin visualising myself there when I'm stuck in my grim office so need to know if I need imaginary sunnies or snow boots :rotfl:

Silver_Queen

lonelyrat wrote: »

Socialising is sometimes part of the job and I would see it as an investment too! Are you finding the job any less stressful/ better? Hope you've made some connections. I wonder if everyone does have endless funds or if it's all credit.

That's a shame about the work trip/ holiday... Lesson learnt I suppose.

Am going to live vicariously through you so where are you going on your next trip please? I will begin visualising myself there when I'm stuck in my grim office so need to know if I need imaginary sunnies or snow boots :rotfl:

I earn a very very low amount for the field I'm in, everyone else my level usually earns between two and three times more than me so I do think that people have endless funds in comparison to me!

I'm off to Madrid! Pretty excited but one of my friends is out there now and apparently it's not much warmer than here will be out there for a few days only because of my work schedule...I'm already getting grumbled at for being away so soon after my work trip! :rotfl:

I saw that you might be moving down to leafy Surrey soon, how exciting!

Silver_Queen

Time for a debt update, I think.

I've let things slide lately because of lack of motivation (you've probably noticed if you've been following this thread).

Debts
1. Train ticket: Because of a few things that came up and a few emergencies, as well as not accounting for the price increase, my train ticket fund was decimated before my ticket renewal. I considered just paying monthly but couldn't swallow the idea of having to pay an extra £350 or so for the year, for absolutely nothing, so I took out a credit card on a 0% offer until Feb 2021. The credit card was used for the train ticket and then cut up, and I have a monthly DD for 1/12 of the price of the ticket so it's all paid back. I couldn't keep the CC because it's so tempting to spend on it since it has such a long 0% period. I have also set up a separate DD to a 3% interest account with a different bank, for next year's ticket. £1,967.83 outstanding.
2. Bank of Mum and Dad: ticking along nicely. £8,500 outstanding.
3. Amex: I have always paid this off in full but I've noticed that since I stopped forcing myself to pay it off by 20th each month and instead just rely on the monthly DD, I have started to slip into relying on it as part of my monthly funds. From here on I'll be paying it off in full by 20th each month so I have to account for it in my monthly salary instead of relying on next month's salary to cover it. £390 outstanding but accounted for in last month's salary
4. Halifax Clarity: used when abroad only. £252 outstanding, of which £200 was for duty free shopping for my parents, which they will pay me back straight onto the card. £252 outstanding.
5. Virgin Atlantic: I got this card on the basis that I would use it for the points whenever I'm not able to use my Amex, but actually, I rarely use it because it's such a pain to check the balance. I'm considering cancelling it but not sure. £0

Current total debt: £11,109.83 of which £797 has been accounted for in my current account and will be paid off via the normal monthly DD. None of my debt is interest accruing. After my debt related DDs have been taken, I'll owe £10,312.83

Other things:
1. My OH owes me £1,570 because of some essential spending I've bullied him into doing lately for the sake of his health - dentist, new bed etc. He has continued to pay me £250 per month, which I am happy with.

2. My LISA has been performing terribly thanks to the stock market. As of today, £600 in there.

3. My 5% saver matures soon. There's £250 in there.

Taking away all the money already earmarked for debt repayment and short term savings, I have approx. £345 in my current account which will have to cover all my upcoming expenses.

Upcoming expenses: train travel over Christmas, food at my parents', food at OH's parents' (most likely at least one meal out). Parking at airport for Madrid (cheaper than alternative travel). Spending money in Madrid (around £100 each).

Lucifa73

Just read your whole diary! Not that I am procrastinating or anything... I would never... Well okay, yes, guilty. I have so much to do and don't know where to start!

Anyway, your journey is an interesting one. You have done great with the loan to your parents. I hope you find a balance between finances, future plans and fun now. Your job sounds stressful enough without trying to juggle all that too. I have subscribed and will be cheering from the side-lines even if I don't always post.

Silver_Queen

Lucifa73 wrote: »

Just read your whole diary! Not that I am procrastinating or anything... I would never... Well okay, yes, guilty. I have so much to do and don't know where to start!

Anyway, your journey is an interesting one. You have done great with the loan to your parents. I hope you find a balance between finances, future plans and fun now. Your job sounds stressful enough without trying to juggle all that too. I have subscribed and will be cheering from the side-lines even if I don't always post.

Gosh, I can't believe you did that :rotfl: the amount of drivel that I spew...I've actually been thinking of starting a new diary because this one has really just been a thought-barf and I'm not sure that's exactly how I want myself to be represented forever and ever :rotfl:

Thanks for popping in though. I lurk lonelyrat's diary and know you're a great support on there, good luck for your upcoming job interview too!!

Silver_Queen

Silver_Queen wrote: »

Upcoming expenses: train travel over Christmas, food at my parents', food at OH's parents' (most likely at least one meal out). Parking at airport for Madrid (cheaper than alternative travel). Spending money in Madrid (around £100 each).

Paid for one of my planned journeys over Christmas and parking in Madrid. Got 50 euros in cash and will do the rest on my clarity card for a preferential rate.

Planning around £150 for food at parents and OH's parents and another £75 or so for spending money in Madrid - OH and I always just spend on my credit card for a preferential rate and then split all expenses down the middle when we're on holiday.

Realised that some of my credit card payments don't come out until 31st/early Jan so I now have £800 left in my account and will be trying to preserve at least £500 of that until the new year :eek:

Going to America in April for my birthday and to celebrate a major career milestone - that'll be an expensive one! Hoarding my money for that but OH and I have both asked for spending money for Xmas and I will again for my birthday.

ChasingSunshine

Silver_Queen wrote: »

Realised that some of my credit card payments don't come out until 31st/early Jan so I now have £800 left in my account and will be trying to preserve at least £500 of that until the new year :eek:

Just wondering if you are worried about dipping into the money you have ear marked for the credit card could you pay it off now so that the money is gone and you won't have to think about it. Know that might not work with direct debit amounts etc but might be worth thinking about as if you pay the amount due then direct debit just gets cancelled (I think). The other option is transfer the money to another account and transfer it back it again after Christmas? Sorry you have probably thought of all this already but that's what I end up doing when I get paid early at Christmas and want to make sure there is money there in the new year.

enthusiasticsaver

Most bank accounts will let you set alerts so you get a message when the balance reaches a certain level.you could set one for £550 or just pay particular attention to what you are spending so you don't go into the £500.

Sounds like you have exciting plans for the New Year.