Building the future!

[Deleted User]

Haha, yay, I've inspired someone! :rotfl:

It's definitely interesting planning ahead this far - a new experience for me too!

System

Just waving hello and wanted to say congrats on not eating out - it' such a money saver - and plus when you do do it, you really apppreciate it.

I've just cottoned on to saving ahead in YNAB (a bit dull really given I've been using it about 18 months) but now having figured out that I can stash money away for my future self it really makes sense!

Keep at it xx

Gemsy81

Ugh....have set all my budgets for July, and evaluated everything from June.... points to note (and I am trying not to be too hard on myself as it is our first month EVER of budgeting)

- Pension payment of £70 - did not go out, as I need to take some ID into bank to be approved. I'm not sure why, but I will make sure I do this next week.
- Council Tax, one payment has been missed during our change of bank. I've asked them to add it on to the remaining months, but for some reason they have not done this - I will chase this up.
- I over budgeted on car tax as I 'forgot' one is off the road while we decide what the hell to do with it, and therefore SORN. I transferred this extra to an overspent category.
- Childcare went £25 over budget, but it was a expensive month due to half term, it will even out in July. And that will be my last childcare bill as he finishes for the summer in July, and then is off to school!
- Electricity, overspend of £23 - this is because SEE put up our bill which is why we have changed...my new dd has been confirmed at correct budget, and I have a £50 switching bonus which will clear the overspend, and more.
- Water....no DD has come out yet....I don't know why....
- Groceries....overspend of £67.73!!!! OH is banished from the supermarket for scuppering me, and he shall be eating baked beans all July to make up for it.
- Internet/Phone - massive overspend of £101.36. This is due to the international calls !!!!-up. Next bill already checked online and confirmed amount within budget (£70)
- Medical overspend of £2.39....due to colds etc! I need to see if I can cancel my monthly pre-pay...for reasons that shall remain mysterious for now, I do not need my repeat prescriptions now.
- Netflix/itunes...overspend of £5.48 - I will check, but I think this is because I upgraded a little educational app my LO uses (so he can use it while he is at work with me)
- My personal pot....overspend of £2.70

As I have already evaluated the budgets, I have committed myself to a three day stretch of NSD for tomorrow, Friday and Saturday! Wish me luck!

Current challenge.....find a way of raising our spending money for our holiday in three weeks time! I would like a £400 pot if possible....this may or may not be over-optimistic! I will be trawling the loft over the next day or two, and will either be happy or sad!!

Gemsy81

Ramblehan....yes....I've had a couple of carry forwards (in addition to a few disasters!), which have been quite exciting! Car maintenance and Dentist budgets now show a carry forward!

[Deleted User]

Ah, don't be too hard on yourself - you'll get better and better at this budgeting thing!

Well done on being honest with yourself and taking steps to rectify things going forward.

NelliePie

I'v been reading your diary and have to say well done on going for it gung-ho! It's daunting for most people to sort their own finances out let alone when they are twisted into business finances too. You've made some really great progress already. I'd say you're doing the right thing not being to hard on yourself to start with; leaning t o budget and stick to it is a process and it'll come more naturally with time.

At least now you have the knowledge and tools to keep you on track, but be prepared for what's to come. Once the excitement of this new chapter wears off you''re in the long hard slog of keeping it up even once your debts are gone so you can start saving and enjoying life some more (within your means). This can get you down so know your triggers and be prepared for them so you don't start unnecessarily impulse spending again. Sorry if this sounds a bit doom and gloom but being prepared will help.

You're doing marvelously well and I (like most other subscribers) will be here with you to give you support and congratulations when you succeed and to give you the occasional kick up the bum/holding you to account if you ever need it.

NP

Gemsy81

Thanks Nelliepie - you are so right regarding the triggers. I have tried to become a lot more aware of these....you don't 'accidentally' overspend for 20 years without a reason. I think I have become 'dependent' on the stress relief spending gives me (and thats the first time I have ever thought about it like that), so I am trying to find other ways of calming down! I am actually having a pretty bloody awful day today for one reason and another (really should have just stayed in bed TBH!)....I went for a coffee with a friend as she was a bit worried about me, and knowing I was trying to do a NSD she bought it for me

NelliePie

You've come so far since your start - both financially and mentally. Now you know what can set you off spending and why you did it you'll be much more able to keep it under control and keep adding to the great progress you're making! Keep it going
P.S. It's really nice of your friend to get on board like that

Gemsy81

Well it is 7.30pm, I am on my sofa, so I think I can safely class today as a NSD!!! Which feels good

Tomorrow will be a challenge, as I am going to attempt something of a day off, but I fully intend to fill it with useful stuff (i.e. trying to find £400 worth of things to sell!) not spendy stuff. Saturday will be easy, I'm working all morning, and intend on spending the afternoon in the garden.

In other news.....some work I did ages ago, has FINALLY been paid to me today, its only £150 - but that is going in the debt repayment pot for July, so thats £550 I now have to raise, rather than £700

Gemsy81

Today is not as productive as I would like. I feel in a bit of a slump and I'm not sure why....maybe because it has been a difficult week and a number of things have knocked me for six a little. I've given OH a lift to a golf competition he is playing in and basically moped! I will get my mojo back shortly, I'm sure.....my one positive, is that I haven't spent any money in order to alleviate the way I'm feeling. Very aware I am sounding like a moaning minnie which will hopefully kick me up the backside!

Good news though....went to withdraw my £150 from Paypal, and there is actually £160 due to some Paypal refunds, so that is a bonus, and an extra £10 towards my £700 target.