Reducing Debt - being accountable and taking responsibility

wishingthemortgaheaway

52 days to go I think...

DrSpendLittle

wishingthemortgaheaway wrote: »

52 days to go I think...

:dance::dance::dance::dance::dance:
:dance::dance:

:beer:



:T

DrSpendLittle

Looooong day in the office. I always forget how tiring it is going into work and interacting with colleagues all day versus working from home in peace

Picked up some groceries (£4) and toiletries (£4) after work and put fuel in the car (£22 - fancied a random number for a change:rotfl:).

I'm due a major car service soon and I suspect I'll need some new tyres in the next 6 months too. I've £110 in my car maintenance budget. I think I'll need a bit more to cover that (I also need to get Mr Mechanic to fix up some loose trim.) I might have to dip into savings if I decide to service this month. It's just about been 12 months since the last service but I've only driven it about 7,000 miles so I'm tempted to wait until Friday 1st March when I'll have £160 in the budget.

What else? Back in the office tomorrow (in all week). Have brekkie and lunch planned so I'm hoping for a NSD tomorrow.

Really enjoying being uber focused and uber accountable for spends. Working hard to get to 29th March with no financial mishaps. Can't believe I'm counting down the days to the B word!

Now to catch up on the diaries!

DSL

DrSpendLittle

Forgot to add. I was browsing the forums on here the other day and stumbled upon a post by someone who'd recently received a new grey b4rclaycard out of the blue to replace his old white one. He was confused as he didn't order it. Turns out B4rclaycard have redesigned their cards!

Well, it got me thinking..... You can probably tell where I'm going with this... Once I clear the balance on mine on 29th March, I'll be keeping it for emergencies and large transactions. But it's my bad debt card - the one that triggered the pyroclastic flow of debt. It was my first ever debt.

Well, what better way to start afresh than to have a completely new, redesigned card :rotfl:

I decided to Oh Deary Me lose my old white one and I'm now the proud owner of a shiny new grey one :T

No more white and blue! And goodbye to those debt memories that only the look of a credit card can make you feel.

May it be the start of a wonderful friendship :beer:

PositiveBalance

DrSpendLittle wrote: »

Forgot to add. I was browsing the forums on here the other day and stumbled upon a post by someone who'd recently received a new grey b4rclaycard out of the blue to replace his old white one. He was confused as he didn't order it. Turns out B4rclaycard have redesigned their cards!

Well, it got me thinking..... You can probably tell where I'm going with this... Once I clear the balance on mine on 29th March, I'll be keeping it for emergencies and large transactions. But it's my bad debt card - the one that triggered the pyroclastic flow of debt. It was my first ever debt.

Well, what better way to start afresh than to have a completely new, redesigned card :rotfl:

I decided to Oh Deary Me lose my old white one and I'm now the proud owner of a shiny new grey one :T

No more white and blue! And goodbye to those debt memories that only the look of a credit card can make you feel.

May it be the start of a wonderful friendship :beer:

:eek: NO! GET RID OF THE CREDIT CARDS! IF YOU HAVE AN EMERGENCY FUND, YOU DON'T NEED A CREDIT CARD! :eek:



Seriously, this is a bad idea. Go cold turkey. It is initially petrifying, but then feels really great.


As soon as you are out of debt, focus on building up a 3-6 month emergency fund and you will not need a CC so there is no more temptation to get back into debt.


:eek: DON'T DO IT! :eek:

DrSpendLittle

Hi positivebalance, thanks for posting I understand your concern and reaction, but it's okay, it's just until I have my 3-6 months expenses built up, which should be by late 2019. I'm a homeowner so I need to have some sort of access to the big ££s (not just a measly £1000) in case of serious or significant damage or emergencies. I'm not willing to take on the risk of being without that for the next 10 months for the sake of doing a Dave Ramsey and having plastic surgery.

I'm pretty confident in my new relationship with money and I trust myself not to abuse credit cards (and therefore myself) again. This particular CC has lived in a draw upstairs out of harms way for over two years and it will stay that way. It might accompany me on travels and work visits as a means of security if the worst was to happen - things like the ash cloud and even t3rror attacks. Call me a catastrophiser Does any one else think like this?!?! :rotfl:

Thinking all this through as I type (this is why forums like MSE are so valuable), it's helped me realise that I no longer fear debt in the way some who are earlier on in their debt free journey may.

I've learned some very valuable lessons over the past 18 months - I've successfully managed to live within my means; I've cashflowed all expenses, big and small, and I've managed an average monthly debt repayment of around £690 whilst doing it. The thing I fear now is a bank balance below £100 and the subsequent bouncing of direct debits and mortgage payments. Makes me :eek: just thinking about it.

Don't get me wrong, I'm not complacent. It's inspirational people like enthusiasticsaver and wishingthemortgageaway and others on this forum who have given me an insight into what a normal relationship with credit looks like and what a wise relationship with money could yield. I want those things - early retirement and a paid off mortgage. These are my new goals and debt has no place in them. I'm all fired up and raring to go

Finally, I felt a great sense of peace as I type this - it's nice. Thanks for giving me the opportunity :T

DSL

DrSpendLittle

Another busy day in the salary generator. Some small spends on water (didn't bring enough with me and the water at work tastes rank) and some coffee for my office draw. Oh and some crisps as I am naughty and couldn't resist the urge. Lolz.

Dinner already planned so no other expected spends.

A busy afternoon preparing for work tomorrow and then I MUST put my expenses claims in.

DSL

BabyStepper

DrSpendLittle wrote: »

This particular CC has lived in a draw upstairs out of harms way for over two years and it will stay that way. It might accompany me on travels and work visits as a means of security if the worst was to happen - things like the ash cloud and even t3rror attacks. Call me a catastrophiser Does any one else think like this?!?! :rotfl:

Oh yes, fully expecting a Zompoc any second. :eek: Sometimes in town on a Saturday night it appears to have already arrived.

wishingthemortgaheaway

DSL, I don't think anyone has ever called me inspirational before, and definitely not in the same sentence as EnthusiasticSaver (mse royalty there)
I just keep prattling I'm on my diary (and others) to keep me on the right track and say good bye to the mortgage especially now I earn around a quarter of what I used to.

Anyway.... 50 days to go!!!

PositiveBalance

That's fair enough. Dr Spendlittle...I see where you are coming from. Those same lesson are the ones that I have also learned and will be moving forward with me in life.


I still 100% recommend creating the expenses fund, though.