Reducing Debt - being accountable and taking responsibility

DrSpendLittle

£168 in expenses finally claimed :T Sent to a few different organisations so they may come through in dribs and drabs. Hopefully I can sneak one set into payroll for this month so it might appear later this month. Fingers crossed.

I wasn't organised enough to bring a packed lunch into work this morning so I'll need to pick something up. I have £3 in my purse that doesn't feature in my budget so will use that and pretend it didn't happen :rotfl:

DrSpendLittle

Another busy day in the office. Spends were £20 on a new parking book and £3.50 on snacks

I've decided to use my personal spends budget for my 'frittering on food at work' spends to be more accountable. I'd previously stashed them in my groceries budget to avoid the guilt. I will get into making and taking my lunches next week (in my shiny new lunch box of course!). This week has just been so manic with a couple new projects starting and one finishing. Deadline drama. Anyway, my usual (ish ) organised way will be reinstated next week.

Working from home tomorrow but I have an appointment in town mid morning so will probably stay in a bit longer and do some more work in a coffee shop. Might as well make the most of the change of scenery for a couple of hours. No other spends anticipated except maybe parking. I don't usually go to this town so I can't remember how much parking is.

Some spends planned over the week - I need to get some birthday presents and perhaps have a little jeans hunt too.

DSL

enthusiasticsaver

Thanks for the lovely comments DSL and wishing and I am glad you have found my comments helpful. I am so pleased to have played a very small part in helping you get to grips with managing your money so much better. Those are the inspiring stories from those of you posting who have turned things around and got out of debt or are trying to repay their mortgage early especially those who have had to deal with life changing occurrences like Sun Addict or PLMBSL and many others who post regularly.

I think I have said in the past my experience comes from years of debt counselling for a major bank rather than personal experience of being in debt. Budgeting was second nature to me from a child thanks to my dad and I have passed those lessons on to my kids. One of the greatest life lessons you can learn I think.

The thing to remember is not all debt is bad and the secret is you control the debt rather than letting it control you. You seem to have managed to conquer that so well done.

enthusiasticsaver

DrSpendLittle wrote: »

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

I get where positive balance is coming from re getting rid of the credit card and that is definitely the right thing to do for some people who are easily tempted but FWIW I do think you are right to keep it as you seem to be very confident you no longer feel the need to spend unnecessarily on it. I have two which pay cashback/vouchers and are paid off in full each month and if you can trust yourself to do that I don't think there is any harm in keeping it.

PB is right about the 3-6 month emergency fund and you are working towards that but no reason you can't do both. Having a credit card is useful, sometimes essential when travelling and the section 75 protection on larger purchases.

nomorecredit

Hi DSL

Just wanted to stop by and say Hi, I have read your diary this week and WOW WOW WOW you are just fabulous and really admire your determination to pay your debt and how your mindset towards finances has changed. I sincerely hope that you are proud of yourself and your achievements, its so inspiring to read. I am struggling to change my "spend what you have" mindset (I am better than I was) but I know it is possible as you and so many others on here have done it so thank you xx

Have a lovely Friday
Best wishes
NMC x

DrSpendLittle

nomorecredit wrote: »

Hi DSL

Just wanted to stop by and say Hi, I have read your diary this week and WOW WOW WOW you are just fabulous and really admire your determination to pay your debt and how your mindset towards finances has changed. I sincerely hope that you are proud of yourself and your achievements, its so inspiring to read. I am struggling to change my "spend what you have" mindset (I am better than I was) but I know it is possible as you and so many others on here have done it so thank you xx

Have a lovely Friday
Best wishes
NMC x

:hello: Hi nomorecredit thanks for swinging by and for your nice comments Its taken time to get where I am but it's been worth it. Other than these boards, the other thing that's really kept me on track is Dave Ramsey. I'm sure you've come across his youtoobe videos. He's like that really honest friend we all have that we like and respect but who scares us to death :rotfl: Having a reason has also helped. For me, it's moving house - the more debt I pay off, the more money we can borrow Stick at it, I'm sure you'll be a success!

DrSpendLittle

Had a busy couple of days with lots of (budgeted for!) spends.

£45 on a milestone birthday present for a family member + £4.58 on card and padded envelope
£57 on new jeans, t-shirt and necklace for me from TKM4xx. Happy with the jeans, finally. Proper bargain too! (£34 from £110).
£48 on a hair cut
£10 on takeaway
£43.27 on makeup and toiletries (stocked up now until probably late April)

So, an expensive few days but all budgeted for and anticipated.

Tomorrow is operation clean the house and catch up on work (an outstanding project to get finished by Tuesday and I want to sneak some hours in so I'm not in a mad panic on Monday.

Need to do an Ocado shop tomorrow - just a small one - to get stuff in for the week and sort lunches. In the office most of the week though I may sneak in two days at home. Undecided which ones as I have some flexibility.

Right, off to catch up on diaries.

DSL

PositiveBalance

DrSpendLittle wrote: »

Other than these boards, the other thing that's really kept me on track is Dave Ramsey. I'm sure you've come across his youtoobe videos. He's like that really honest friend we all have that we like and respect but who scares us to death :rotfl:

For me, I think of him as my straight-talking wise, American uncle. He's the kind of person I think WWDD (What Would Dave Do?) before I make decisions now. :rotfl:

DrSpendLittle

A quiet day catching up on house work and doing some work. I've done about 90 mins and may sneak in another 60 mins. WFH tomorrow and want to pop out for an appointment in the afternoon, so the more I can get done today, the less time pressed I'll be tomorrow.

DF baked bread and the house smells lovely. We're having leftover roast lamb for dinner with some fresh roast and rocket.

Done an Oc4do order to be delivered tomorrow. Should keep us going for the week for lunches and dinner. I've only one more order to do and then I get a free £16 voucher. I'm trying to do a £40 shop per week - it seems to be working.

Counting it as a NSD as my account won't be debited until tomorrow's delivery.

nomorecredit

DrSpendLittle wrote: »

:hello: Hi nomorecredit thanks for swinging by and for your nice comments Its taken time to get where I am but it's been worth it. Other than these boards, the other thing that's really kept me on track is Dave Ramsey. I'm sure you've come across his youtoobe videos. He's like that really honest friend we all have that we like and respect but who scares us to death :rotfl: Having a reason has also helped. For me, it's moving house - the more debt I pay off, the more money we can borrow Stick at it, I'm sure you'll be a success!

Hi DSL

Thanks I will keep trying I know it takes time and to change overnight is not going to happen but will stick at it.

I must admit Dave Ramsey is very good, honest and brutal especially when he tells people "the only time you will see inside a restaurant is if you are working there" I have will start listening to him again his story is so inspiration too and he is quite funny with it.

Great bargain with the jeans great find, its nice when you find some you like too jeans can be so unpredictable its taken me until I was 40 to find the right pair !

Hope you enjoy the rest of your Sunday.

Best wishes
NMC x