Tips to save money to pay debt off quicker

B17c

JackieO, true that, they'll never learn if they're handed things on a plate! Hopefully he'll be better with money as a result, I'm afraid I was spoilt rotten as a child by my grandparents, got everything I wanted so when I discovered credit cards I got into a whole world of trouble as if I wanted something, I bought it!

Think I've been in debt for pretty much my entire adulthood. I decided I'd rather not be 40 and in debt up to my eyeballs and that I'd actually quite like to go travelling, or buy a house (not in London though :eek:)

That potato gratin type dish sounds yummy! I might make that next week, but with spinach not cabbage (got spinach in the freezer) I've already put Julys food in my 'trolley' online, will get that when I'm paid on Monday/Tuesday then that's me until next payday. I've budgeted £50 for the month but I'm going to have a look now to see if I can trim that further!

Any other meal tips/rationing tips JackieO?? I'm loving them!
Xx

NelliePie

Mummy2cheekymonkeys wrote: »

Stupid question but How do you know when it's run out? It's not like you are going to count them all lol. Is it bio or non bio?

It comes with refills - each refil lasts 72 washes so we just have a pen and a post it note on top of the washing machine and we just tick each load off on a tally. It sounds like effort but its actually just become habit. I'm pretty sure it's non bio. You can find them on amazon (where we bought ours from) but if you go on the ego egg website it explains how it works.

monnagran

B17c. Hope you had a mean weekend.

That isn't as unfriendly as it sounds, there is great satisfaction in getting through a weekend without spending a bit extra. This is when so many good intentions come to grief. Weekends, holidays, birthdays, paydays, anniversaries, good news, bad news, if there is an R in the month................. we can always find a reason for a little splurge, either to celebrate or to make ourselves feel better.
To get through one of these occasions without untying our purse strings shows real determination.
If your resolve is a bit weak (like mine) try to salt away a tiny. regular sum for a little treat now and again. I believe Jackie O, and she will correct me if I'm wrong, calls hers 'Happy Cash'.
Mine is in a tin marked, 'Naughty, Sinful Moments.'

A story.

Two friends of mine went to a large Christian festival with a consignment of plastic bracelets to sell. If you remember, there was a fashion for these things with slogans printed on them. Theirs were printed with the Fruits of the Spirit. By the end of the first hour they had sold out of LOVE bracelets. JOY, PEACE, etc followed swiftly.
By the end of the day they had sold all their stock except for one category.
No one wanted SELF CONTROL.

It seems we are not alone.

B17c

Hi Monnagran! I missed you over the weekend! Was yours good? I had a very mean few days off thank you! I don't think I spent anything wed/thurs/fri... not even on bog roll! PITB bought some!:eek:
I worked Saturday and Sunday night, did an 11 hour shift last night. Sold an item on eBay for £50 so that will go to € fund, £200 now I have, plus 110€ I have already from last time. I've taken out anything left over from my basic budget and moved it to my savings account and will divide that into cc money.
I've cancelled Apple Music and my gym membership, though I'll have one more payment to go out I think, then that's done.
I'm about to do a £50 online grocery shop for the month with A*DA, switched from sainos as cheaper.
I've text my friend about doing a carboot this Sunday coming!
Xx

System

B17c wrote: »

Hi Monnagran! I missed you over the weekend! Was yours good? I had a very mean few days off thank you! I don't think I spent anything wed/thurs/fri... not even on bog roll! PITB bought some!:eek:
I worked Saturday and Sunday night, did an 11 hour shift last night. Sold an item on eBay for £50 so that will go to € fund, £200 now I have, plus 110€ I have already from last time. I've taken out anything left over from my basic budget and moved it to my savings account and will divide that into cc money.
I've cancelled Apple Music and my gym membership, though I'll have one more payment to go out I think, then that's done.
I'm about to do a £50 online grocery shop for the month with A*DA, switched from sainos as cheaper.
I've text my friend about doing a carboot this Sunday coming!
Xx

Heya, I like the idea about taking money from your basic budget and dividing into cc money. could you share more details about how you'll do this? thinking of taking this idea hehe.


Also wouldn't that mean you have less in your basic budget, or would you be using the credit card money for that??

B17c

Hi sweetcake! So basically I see what all my essentials and direct debits are eg rent, bills, travel, food, min payment on credit cards etc and add that all up,, then I look to see what I was paid and any other side hustle money and take away what's left after the essentials and can either divide it by 4 (I have 4 credit cards) and do equal amount off each or just put the whole amount on one card to pay it off quicker!
Eg budget £1000
Pay £1400
That's £400 left after budget money, and either £400 off one card or £100 off each!
Xx

Mummy2cheekymonkeys

B17c wrote: »

Hi sweetcake! So basically I see what all my essentials and direct debits are eg rent, bills, travel, food, min payment on credit cards etc and add that all up,, then I look to see what I was paid and any other side hustle money and take away what's left after the essentials and can either divide it by 4 (I have 4 credit cards) and do equal amount off each or just put the whole amount on one card to pay it off quicker!
Eg budget £1000
Pay £1400
That's £400 left after budget money, and either £400 off one card or £100 off each!
Xx

Having been in a similar situation I can agree with the advice others have given about focusing on one card. I had 3 cards at one point and I used to overpay one one month then the next month a different one. I thought I was doing the right thing as in my head I thought surely overpaying was a good thing but it can get disheartening when they don't seem to be going down quickly. As soon as I focused on clearing them one at a time it made a huge difference. Plus once I cleared one I was then able to get a 0% balance transfer for the other 2 and that was the best thing ever. Good luck.

monnagran

B17c, Don't get sidetracked. Stay focussed. Each month, minimum payment on all 4 cards and anything extra on the first one you have decided to get knocked off. Remember that when you have finally got rid of the first card you will not only have anything extra to pay off the second one, you will also have the first cards minimum payment going spare.

Imagine when you have got the first 3 cards smashed you will have all 4 minimum payments plus anything extra to demolish the last one in double quick time.

It will be fine for a bit because you are excited and determined and in the mood.
Have no doubt, this will wear off and you will get sick and tired of the struggle. It will seem to be taking for ever to make any impression and you will want to give up a thousand times.
This is where this thread will come in useful. Even if, months, years down the line its just thee and me. I will be your nemesis, sitting on your shoulder and wagging a finger in your face should you stray from the straight and narrow.

Think how wonderful it will be when there are NO minimum payments because all the cards are cut up and gone to credit heaven. Just think what it will be like not to have those debts nagging at your mind all the time. Whatever will you do when all the money you earn will be yours to spend however you like.

You can do this.

B17c

Evening all... nothing new to report really, did a £50 food shop for the month at ASDA online and have batch cooked a curry and a corned beef hash, listed some items on eBay, things not really selling on marketplace, maybe my prices are too high?!
Friend never got back to me about the carboot so I'll have to find someone else I think, and do it in a fortnight.
A colleague gave me an idea earlier, I'm thinking of working 6pm til 6am for 3 days every other week, the way my shift patterns fall it's not feasible to do it every week, but I can do extra on different days. They need the staff so it shouldn't be a problem to do that.
I'll see the lady who was going to ask around to see who needed a childminder/babysitter on Monday so I'll remind her I'm available...

monnagran

You're doing well. Extra shifts is a good idea if you can manage it. A car boot is a good idea but it is a one off, and while it might make a bit of money for extra debt reduction, something regular like an extra shift or two is a better long term prospect.

Did you have anything left from last months money to chip away a bit more of the chosen debt?

I don't think anyone is in the mood for buying online at the moment. Between the world cup and and the heatwave people have other things on their minds.

The autumn is quite a good time for selling, or so I've heard. I'm useless at it myself but my youngest son is brilliant. He went off to a car boot once with a pick up truck full of detritus. When he got back he had sold everything, including the trainers he was wearing.

Anyway, keep fighting the good fight.