DD's accountability thread

DD265

I sold one auction at £5, nothing at all last week. I've also had a parcel go missing which has been a lot of hassle (not with the buyer, thankfully). So I took all my listings down and will put them back on in lots - I've had enough now and it just doesn't feel worth it.

Basic salary this month; £260 more than my old basic salary which is good and it means I know the minimum for future months. I think once these credit cards are paid off it'll make a noticeable difference but for now, everything gets funnelled towards those.

I have been stressing about paying off this MBNA card, but realised that I do have enough cash to pay it off if necessary. That might mean paying my car insurance monthly next year - it renews at the end of October - but we'll see what I can swing. Worst case I can balance transfer to the Barclaycard, but it hardly seems worth it. In theory I might just need an extra month, so I'd have to compare the interest I'd pay to the balance transfer fee. Incidentally, MBNA and Barclaycard are increasing my credit limits to £10,500 and £6,500 respectively. Crazy.

House/garden wise we're focusing on the free/cheap things we can do - like finishing resealing the shower that we started stripping months ago. We got some free pallets to make a raised border in the garden and whilst we had to invest in some tools, they'll obviously be used for other things.

Our flights to Dubai are booked for the end of September which we're looking forward to. In the interest of saving £80+, we've not booked seats and are instead keeping an eye on it. The flight currently is pretty empty (we could even sit on the top deck - for an eyewatering £280!), so if it starts filling up we'll pay to sit together but otherwise we'll choose free seats together at check in.

DD265

I am so skint this month it's not funny. The month started off not looking too bad, but I now have £25.43 in my spending money category.

First, I bought an Osprey rucksack. We've been hiking (7 miles) on a Sunday and really enjoying it, but I only have a commuter/laptop bag at the minute. It's unisex (and I am a petite hourglass, even taking excess weight into account) without waist/chest straps for support. I've been getting a sore back and a sod of a spot on my shoulder. Said rucksack should be £120 new but I won it for £48 on eBay. A big chunk of change, but it's actually a better model than the one I wanted, which was £65 new, and I'm happy with the purchase as I think it'll last. It'll help when it has arrived and I have that tangible 'this is what I sacrificed everything else for'.

Secondly, we went to our home town to see family at the weekend, and out for tea. I put in £30 for both of us (including tip) which isn't a bad deal but a lot when I had a limited amount to begin with. I also bought a Bravissimo top for work; £14 on eBay but brand new. I've gotten rid of a load of old t-shirts/migrated them to gym/garden/DIY wear. Still trying to smarten up a bit! Quality over quantity is my clothes buying approach these days. I set £50 aside for spending money for Dubai too, but it's all chipped away at my disposible income for the month.

I do have money in other budget categories, but I'll try not to use it if possible. OH said he can move some bits around and help me out if needs be. We've a social event for a friends birthday planned in two weeks, but otherwise it's looking like a quiet month.

Took out a credit agreement today for Amazon Prime, through Vitality. You get points for being active, and if you earn the maximum a month, they'll pay your Prime membership - at £79 a year that's not a bad deal. Unfortunately, it involves a credit agreement as if you don't get the points, you've to pay £7.90 for that month. Hey ho, best make sure we get the points.

DD265

Somehow I made it up to £36.73 in my spending money category - not 100% sure where the extra came from. I'm mostly managing not to spend anything; my Strava subscription went out, and I paid for a couch to 10k app but apart from that, no unnecessary spends.

Unfortunately there was a plot twist on Saturday, when I managed to shatter one of the glass panels from the en suite shower enclosure. I had two on the dining table cleaning them, and one of them slid sideways into the other. It was quite spectacular, I guess, but rather expensive at just short of £70 to replace. That's coming out of the car deposit fund, so a minor set back. On the bright side, the conservatory floor got a good clean to make sure we'd picked all the glass up.

Progress on the credit card front feels slow now. I have decided that I will pay the MBNA card in full by November, rather than doing a balance transfer. If it means using some emergency fund so be it; my OH has a similarly sized emergency fund. I am also planning to 'clear the change' from my budget categories if that helps.

Going to see Downton Abbey this weekend; three VIP tickets cost me £9.49 as I used two Vitality ones, so just the upgrade fees plus one full price ticket at the Vue. Really looking forward to it! If I'm lucky I'll be treated to lunch in return, and if not, I'll go to Subway. :rotfl:

DD265

MBNA card is down to £900, and my emergency fund is still intact at £1k, with two pay-days to go before the November deadline. I'd say it feels good, but the last £200 I threw at it came from the car-deposit fund so it's a sideways step. I think I'll still end up using some emergency fund to get it clear, but hopefully only a couple of hundred because I'd want to build that back up before turning my attention to the car deposit.

I've increased my pension contributions at work by 1%, to 5%. It felt like a good idea - ideally I'd probably go higher but I need to spend some time finding out about pensions and how it all works etc. I'm also interested in investing, but don't feel like I've got the disposible income behind me right now, so I think I'll look into a S&S ISA at some point.

My mindset this month has been very focused on not spending. In fact unusually, one of my spendiest-categories was hair and beauty; my hair was cut and coloured (I usually go every 10-12 weeks) but I also ran out of my perfume which isn't cheap. I managed to get a 100ml bottle - which RRPs at £90 - for £56, from Groupon which I was pleased with; it's never any cheaper at duty free. Whilst this is rather frivilous spending, it's all budgeted for, and rather than robbing other categories to still have meals out etc, I've just cut back drastically on the other stuff.

I have been struggling for a cover up; mine was recycled as it had a hole, but I wish I hadn't now and I'd have just been holy. :rotfl: I did find one at a charity shop for £1 but it's a bit small to get on and off comfortably. I've also got one I picked up on ebay for under £10, and it'll do even though it's not perfect. As I said to OH, once I've lost the weight, I won't mind spending a lot on a single item of clothing as I'll be buying it to last, but for now, it's cheap and cheerful all the way.

We go to Dubai on Monday. Still haven't booked our seats; keep checking the flight and so far we won't have a problem sitting together. Just got to keep checking, and hopefully avoid panic-booking if we don't need to. It could save us £280!

ETA, I feel better about the credit card progress when I realise I've paid off over 70% now!

beanielou

You are doing amazingly well.
Not long til your holidays

DD265

Well I withdrew over half of my emergency fund this morning - £595. My sister received a court summons on Thursday for eviction over unpaid rent. It turns out that her partner had had difficulty getting paid (several times, he's self employed and subcontracts) but hadn't told her how bad the situation really was. The section 8 was sent in April, and the section 21 this week. She pays the other bills, and they don't have any shared accounts due to poor financial history on his part. Clearly, they didn't communicate - a large part of it was embarassment on his part.

I saw first hand what financial infidelity can do and feel very glad that I can trust my husband 100%. I have started writing a post in DFW a few times as I often read people who haven't told their partner and are scared of the fallout, but I haven't quite gotten the wording there yet. I think I'll do it at some point though.

I have spent a lot of time with my sister discussing what had happened, and what needs to happen. The priority is ensuring that she doesn't get a CCJ and has somewhere to live. The decisions about her relationship and the way forward are up to her, though I advised her to budget and build up a 3 month buffer for at least the rent; she earns a low salary and can't cover everything. The landlord said they'd cancel the proceedings if the arrears and court costs, and October's rent were all paid by the time October's rent is due.

The money withdrawn from my emergency fund has been transferred to my sister and covers the arrears and court costs. It is to be repaid as soon as possible, though I haven't stipulated a date, I expect it before the end of October. Her partner assured her that he'd have the money to catch up by the rent due date, so we haven't paid the rent for now (my OH's suggestion to hold fire), but will do if required - but only once.

I've spent several hours getting my sister going on YNAB. I may have been a little harsh with some of the home truths about her spending habits, but I hope it sinks in. I fear she may try to go from 0-60 in terms of a tight budget and sticking to it, which feels unrealistic, but then having to find another home is a very real possibility so perhaps she'll manage. She'll be taking control of a budget and making sure the rent is paid; her partner will 'pay' her and she'll distribute it to the landlord. I'm hoping they'll work on, and agree, a budget together, even without a joint account.

It's nice to be in a position to help. If we'd been in November I don't think it would have been feasible, given I have my car insurance to pay in October and the MBNA card starts charging interest in November. Luckily, we have the buffer of my OH having a separate emergency fund so we can risk emptying mine temporarily!

beanielou

How awesome that you were able to help your sister

Drawingaline

How lovely that you can help your sister. Maybe she will see ynab as a positive, not a stupidly strict budget, but a way of aligning priorities. I hope she can see a way forward.

DD265

I’m in a better position financially than I have been, and that’s only with a week of doing this

I got this from my sister whilst we were away, and I'm a bit jealous! It took me much longer to really feel the benefit of YNAB. :rotfl: I am of course over the moon that she thinks it's helping - and they had a bit of a bad start with some significant (£500+) vet bills and no insurance. She was able to arrange a payment plan with the vet, and with a little parental help, has it covered without any new debt. She can get a 0% balance transfer and stop paying credit card interest, and they have the rent money in the bank for October ready to go. I've said I need my money back by the end of the year, but that instalments are fine to give them some leeway.

On my side, we had a fab holiday. We managed to not pay for seats either way and were still sat together, saving £80+. My father paid for pretty much everything whilst we were there, so our costs were about £800 - still cheaper than the kind of all inclusive holiday we'd go on, albeit not quite as relaxing.

I've sorted out my car insurance today - having set aside £50 a month for the past 12, I had £600 and only needed £310 of that (with hopefully £45 cashback to come). I've been able to move the spare £290 to replenish other categories as I hadn't allowed myself much wriggle room this month and was feeling it, plus I'm more aware of expenses coming up in November and spreading the cost. £100 of that has gone towards the MBNA card - now at £350, which is great given a couple of months ago I thought I couldn't achieve it. I will easily pay off that £350 with October's salary. :beer:

I've spent more than normal in the clothing and hair/beauty categories the past couple of months. I was running low on perfume and got a good deal on Groupon (£55 instead of £90, and a bottle lasts a few years), then I got a similarly good deal on a face oil that I like. I'm at an awards ceremony in London next week, and whilst I have a dress*/shoes/bag, I wanted better shapewear and a quick way of doing my hair; a false bun (ordered several from Amazon to check out, as I know hairpieces can be terrible). Oh and I wore out another pair of jeans and have had to replace them.

*The dress I have is maybe a bit over the top - it's gorgeous but heavily beaded/sequined, so I bought myself a plain velvet number from eBay as a backup for £20 - if doesn't fit I can return it, as it's a business seller. I'm probably overthinking things, but the other plainer gown I have is a bit tight at the moment.

We're nicely on track with the water bill at the moment (£5 credit, so about right I think) then we are overpaying the electricity and gas, but normally we pay very little in summer and get a massive hike in winter, so hoping for a more balanced year. The heating isn't on yet, but I feel like it's not far off being warranted - so far I'm being told 'no' but I need to practise wearing my shoes for next week and they're strappy sandals so...

DD265

None of the (5) false buns are any good - returning the whole lot. I think I'm going to have to try and do something with my natural hair, so pinned several styles and will play around after food tonight. I was planning to return all bar one anyway, but I do feel good about the refund.

Found out today that we're getting a bonus at the end of the month. It's not massive - about £350 before tax - but very nice all the same. I am very confused about said tax at the moment though.

In August, my gross pay was higher but I paid less tax. My tax code changed (healthcare went up by £20) and I increased my pension contribution via salary sacrifice. In September, my gross pay was £35 lower but I paid almost £100 more in tax. I just can't wrap my head around it despite playing with various online calculators. A live chat popped up on HMRC but they asked for my national insurance number, DOB, full name and address, so I backed away quickly! I will speak to HR next week.

Sister's court proceedings are being cancelled, and I passed a professional exam today, so I am celebrating by getting what's left of the Nutella out of the jar with a spoon. :rotfl:

Whilst on holiday I read the 4 Hour Work Week by Tim Ferriss, and it has gotten me thinking. It's not so much that I want to give up work, but that to do the career change I'd want to do is expensive. Not only is there most likely a diploma or degree involved in changing from an IT professional to a paramedic, I'd be taking a significant paycut to do it. Definitely a vocational move rather than a financially savvy one!