Tips to save money to pay debt off quicker

curlytop12

I'm finding your thread really inspiring, have subscribed, thank you

B17c

Hi guys, sorry I haven't posted in a while, life got in the way!
Greece was lovely, seems like a distant memory now though...
I'm no further on in my journey than I was when I last posted, but I'm not any further into debt either, started up with the overtime again and am hoping to do another shift if not 2 a week up until Xmas! Which means I can do my pay £500 into another account thingy I was doing before.
I've only been back 3 weeks so I'm fairly broke again so I'm picking up the 'once a month online grocery shop' habit again, or am thinking of being really good and just living on bread and butter for most of December!
I've had to buy a plane and train ticket to visit my mum for Xmas and will need to buy 3 presents (parents and grandmother) but I plan on cashflowing those with money I've saved from groceries and overtime.

Monnagran and JackieO how are you? And everyone else who has followed or subscribed? Sorry again for being so quiet!

Monnagran Rhodes is where my friends/family are, I love Rhodes and Symi...! My plan when I've paid off my debt is to live part of the year there and part here... obviously it depends on what happens with Brexit... I have a UK passport (I'm not Greek myself, no dual citizenship) but that is my plan. I hope it's possible.

So, plans for December:
Overtime
Sell stuff on eBay possibly
Reduce grocery bill drastically
Walk to work where possible to half Oyster spend (travelcard)
No unnecessary spendage (no brainer but it soon racks up if you forget to take your lunch to work and have to buy a sandwich etc)

Any other hints tips or tricks for me??

B17c

Thank you Curlytop and Lifeofdreams!

B17c

Hi tired with twins! I am exhausted! My thyroid doesn't work properly either which makes me more tired/fatigued than most people, though I imagine twinnies are up there too!
The only reason I do night shifts is because I get about £2.50 more an hour than the day shift people! Deffo trying to lay the foundations in December so I can go into a new year strong... wouldn't it be amazeballs if I could pay off my debt in 1 year??? :eek: :T

monnagran

B17c, Hi there. You have been a busy little bee! I do envy you your trips to Greece, it is certainly my spiritual home.

You have done very well to not have added to your debt. It's just getting through until Christmas now.
If I do have any advice it's PLAN, PLAN, PLAN.

Plan your meals. Plan your packed lunches so NO having to buy stuff. Plan your budget down to the last penny.

One thing that I had to do for a while was to put a fiver into a sealed envelope, only to be opened in dire emergency, and leave your purse at home when you go out - to work or anywhere when you don't want to spend money.

Also use any spare pennies to pay off the card, forget the special account, get it straight to where it needs to be.

So sorry to hear that you have thyroid problems. I think I have low thyroid activity but not low enough to require medical support. My mother always said that I was the only child she knew who actually asked to go to bed.
It does make life a struggle when everything you do requires a huge effort of will and strength.

I am still in the midst of selling and buying a house. I have high hopes of moving before Christmas, but who knows.

B17c

Hi Monnagran! Ooh where are you moving too?? That would be good if you could get it done and dusted before Christmas!
Yes, hypothyroidism is a pain in the bum, my levels are not bad enough to be given thyroxine unfortunately as I still have the symptoms but no relief! My mum says every women on her side of the family had underactive thyroid so I guess it was inevitable!

I have paid £100 extra each on 2 of my cards so far, and had a text this morning from Aqua to say they have reduced my minimum payment for this month (by £89!) so will pay that £89 off another card!

No food budget this month as I have plenty in the cupboard and freezer drawer to work through, I've allowed £5 for bread and milk for the month.
I'll get paid again around 20th December so not too long to go, I'm trying to do overtime at work as much as I can because we all know January is a looooooonnnngggggg month and I still want to pay extra of my credit cards in jan.
I'm still trying to think of extra side hustle ideas that can be done around night shifts... I was thinking a little cleaning job I could go to straight after my shift ends and before I go to bed but would have to be very local... and possibly cash in hand as the extra tax might make it not worth it...

Surveys I've tried but don't have the time or patience for so little payout... I was thinking matched betting. I've got stuff listed on eBay, I'd STILL like to do a carboot sale but no one to do it with...
Anyhoo, I'm glad I've made 2 extra payments and I'm looking to make 2 more later on in the month!

CapricornLass

Personally, I think I would steer clear of any form of betting - it doesn't sound a very good idea to me. After all, all those companies are offering beting/bingo/gambling because of the money they can make from it - and who are they getting all that money from?

I can't be bothered with surveys and things either.

It sounds to me that you have reached the boring bit of paying off debts. Its tedious, because you have to tighten the pursestrings and you can't do very much, and the debts go down soooo slowly. However, you will get there - honest you will!

If its any help, I used to make sandwiches and freeze them in rounds. I was working during the day, but it saved a lot of time first thing in the morning when I was racing to get out of the door. Ditto with cake - I would bake a cake, cut it into portions and freeze them individually.

monnagran

B17c, That's a good idea of CapricornLass. Make your sandwiches for the week and freeze them. Justvrememer to take them out of the freezer every day.

If you have the energy, a little cleaning job sounds like a good idea but don't wear yourself out. It maybe a bit too hard after a busy shift at work.

Wow! to Aqua reducing the minimum payment but I would go on paying as much as possible on that card. I thought that the plan was to pay the minimum payment on all the cards and all the extra to pay off one card at a time. I thought that Aqua was the card you were throwing all the money you could at so that it would be paid off and finished with and then you could choose another card to get paid down.

I'm probably confused. It's quite easy to confuse me.

Surveys take ages to do for very little money, I wouldn't bother unless you have acres of spare time. Forget car boots until the better weather comes, they are not going to make a fortune but useful to pay small amounts off.

Saving money by not spending it is slow but sure and you will get there in the end. Remember that every pound off is a pound less to worry about. And odd pounds soon build up.

Keep on keeping on.

BTW, I am only moving a few miles away, still on my beautiful island. Just downsizing from a large 4 B edroomed house to a small, boring but practical 2 bedroom bungalow nearer civilisation. Living in a village when you have given up driving is more than a bit tiresome.

B17c

Thanks CapricornLass, that's a great idea about the sarnies! Any tips on what fillings freeze the best?? I'm doing lots of overtime at work at the mo but I want to do something else just to boost my income, if only for a few months, has to fit around night shifts though!

Morning GrannyMonna, it was because I'd made an extra payment this month to aqua so they lowered this months minimum repayment, I've not decided whether to snowball or avalanche yet, I'm just making extra payments to all of them when I can to get the minimum payments to a manageable level, Crapitall one have increased my min monthly payment by £60!
My dad and nan have very kindly paid £500 into my account for Xmas so this will be put towards credit cards

monnagran

Nasty old Capital One, A curse on them. How is Aqua going? I know you were trying to get rid of that first. I do think that avalanche might be the way to go. Once you have truly got rid of one you will have that extra money to start paying off another. I personally would make Capital the next one, they don't deserve any more of your money that you have to give them.

You have a jolly generous dad and Nan. May I make a suggestion here. Use most of it on your debt reduction project but keep a tiny little bit for some indulgence just for you. It need not be much but it is Christmas after all and you have worked so hard that you deserve a TINY reward. Just this once.