Reducing Debt - being accountable and taking responsibility

DrSpendLittle · 29 June 2018 at 6:15PM

Hi Pidge,

Thanks for dropping by! Been so busy at work and got out of the habit of updating my diary. I've also been really indecisive about my plans for clearing my debt, so I guess I've avoided making indecisive posts!

All going well here, just £4,999.99 now left to pay off. I've cleared £60% in 10 months, which I'm really pleased with, considering all the 'unexpected' costs I've had to deal with in that time.

Hope you're doing well - I haven't been on diaries yet but intend to catch up over the next few weeks so I look forward to seeing what you've been up to.

Over and out for now.

DSL

DrSpendLittle · 30 June 2018 at 2:17PM

Still feeling that 'post-pay off' elation from having cleared my car loan It's nice to know its all mine now. Interestingly, I feel a lot more attached to my car now and bit more responsible, even though I've had it 5 years! Madness. It also reaffirms my belief in the Dave Ramsey method of paying off your debt smallest to largest. The psychological gains you get from this far outweigh the mathematics of 'saving' interest. The latter induces stress. The former induces achievement. I'm a big Dave fan.

Other than that, I've enjoyed catching up on peoples diaries. I feel reinvigorated to cut back on the spending creep that has begun to show. Not in any worrying of significant form, but those little trips to the C0op and buying lunches at work have reappeared in my life recently.

Not much on for the weekend. I've a sore ankle - went over on it - so I'm a bit housebound today. DF may have to nip out for food as we haven't got much in for din dins.

glass_half_full · 30 June 2018 at 4:52PM

Hi DrSpendLittle,
Great to see you back posting on your diary. You have made tremendous progress, congratulations ! :beer:

I too am a Dave R. fan. I listen to his podcasts and come away from them very inspired. He does crack me up with his attitude to callers sometimes though. I listened to one this morning. The caller was a young man and as he described his situation he was kind of giggling mainly I think due to embarassment about it. Dave says to him, ok you are not taking this seriously enough, call me back when you do, and promptly hangs up! Harsh but fair though. :rotfl:

Good luck with your next phase!

DrSpendLittle · 1 July 2018 at 8:54PM

Had a fairly productive day. I took advantage of the sales (which seem a lot earlier this year....) and stocked up on cheap summer clothes ready for my holiday (1 x loose trousers, 1 x jumpsuit that sounds awful but is amazingly comfy, a really cool pattern and will be great for the long drive to southern Europe - DF is not impressed to say the least :rotfl:, 1 x vest top). I also bought a straw bag and a picnic cooler bag. That is me done for summer hols! I don't spend much on summer holiday clothes as they just get wrecked by suncream. I've a few nice Bod3n dresses that I bought of fleabay a few years ago for a pittance. The new pieces are largely from N3w L00k or G4p and hugely reduced in the sale. I've been lucky this year and bought exactly what I was after. No comprising on the 'its cheap so it'll do' mentality.

Stocked up on F&V and some other bits and bobs in the supermarket whilst I was out. Went to Al8if for F&V and Waitr0se for other stuff. The heat is really affecting our appetite and food mood. We're having roast chicken legs/thighs for a late supper tonight with some homemade coleslaw made with homemade mayo and some sweetcorn.

Tomorrow is WFH, which is great as I save on fuel and parking costs. I'm away for work a couple of days this week and have managed to get all my travel paid in advance. by my employer, so only have subsistence expenses. I've budgeted £30 for two days (no nights away) so I'm hoping that will be more than enough.

Other than that, It'll be a quiet July hopefully, mostly working at home and just focusing on meeting some work deadlines before hols in August.

Still not comfortable with being a 'jumpsuit' owning Gen Xer :rotfl:

DSL :j

DrSpendLittle · 2 July 2018 at 1:32PM

Well, another work from home day. Thank goodness. Our office is like a green house and I just can't work there. Seems most of my colleagues are doing the same. My home office is no better to be honest but at least I can work in less clothes and take a cold shower whenever I want

I've done all the laundry I possibly can - everything that gets washed once or twice year has been washed. It's going to be fresh bed sheets and towels every day at this rate!

I'm praying for rain, like The Cure. The landscape looks so scorched.

Anyhoo, I'm hoping for a NSD today. No need to buy anything really. I've a friends birthday coming up soon, but the present has already been ordered online. Other than that, I guess a quiet July is in order.

Over and out from a sweltering DSL HQ.

DrSpendLittle · 2 July 2018 at 1:38PM

Forgot to add, I'm still sooooooo pleased at paying off my car and having CC2 below £5K. I keep looking at my online banking app and revelling in the glory of MSE-inspired debt reduction. It wouldn't have happened if I didn't have this diary and read others diaries. I'm so grateful I took the plunge to create a diary and super thankful to everyone who also takes the time to write one. If you're new to MSE and happen to be reading this, go for it, create a diary and interact with this community. You won't regret it.

I feel I have all the motivation I need to make the debt free finish line. I can't wait to cut up CC2 and get rid of it forever. I've had it since 1998, so I'm a bit nervous of removing the history on my credit file, but I doubt it'll affect any mortgage application I may make in the next 12 months.

Back to work. Ugh.

DrSpendLittle · 2 July 2018 at 1:59PM

Think I'll put up my monthly budget. Plans for July as follows:

Salary
£2317.33 (net after tax, NI, student loan & 9% pension deduction)

Debt Payments
CC2 £429.17
Car Loan £315.73

Monthly Spends
Groceries £228.21
Fuel £40
Cash Kitty £20
Work Expenses £30

Immediate Obligations
Mortgage & bills £428.41

Yearly Expenses
Holiday balance £802
Holiday clothes £25ish (undecided on one item)

As you can see, a relatively unexciting month, spends wise, due to the final payments for our holiday being made and my car loan being paid off a month early.

DSL

DrSpendLittle · 2 July 2018 at 10:58PM

A successful NSD today.

Not sure what tomorrow will bring as I need to head out in the car for an afternoon meeting off campus and I can!!!8217;t remember how much fuel is in the tank. Might need to top up. But, I!!!8217;m hoping fuel will be the only spend.