Start of my journey

JonW1984

Hi thanks for your replies, I didn't see the BBC thing but I'll try and catch it tomorrow. It's astonishing how much a "few pints" can add up over a month. Our local is around £4 a pint (!) so even though we may just call in for 2 drinks each and a juice for DD it's nearly £20 a go.

Hit the surveys hard last night and cashed out £30 and have a bit more pending.

Onwards!

JonW1984

Rubbish month for money. Overdraft has ballooned to -£2,965.16 although loan continues to tick down slowly, now £11,963.07 owing (although settlement figure now £10,453.22).

Total debt - £14,928.23. An increase of £43.59 on last month's debt!

So what went wrong... New fence panels at £115 were a necessary purchase this month so I'm not too bothered about that. Also had to hire a van at £60 and help with a house clearance for a relative. Spent a further £60 on fuel for the van too so that explains £235.

Unfortunately I've had a hard month in work and been under a lot of stress. My response to that has been drinking and that has gone hand in hand with overspending on food.

I think the other factor is that I've really taken my eye off the ball and not been updating my debt spreadsheet daily. I think it's the same old pattern where I suffer a set back and overspend and then avoid confronting the debt as I don't want to think about it.

Bit gutted but need to get back to basics and rekindle the moneysaving mindset.

GlendaSugarbean

Try not to beat yourself up over this - you're still up on the totals from your first post. This is just a wobble.

Rather than going at your debts 100% can you start saving a bit a month into an emergency fund? That would be a buffer against those inevitable extra expenses. It would extend your DFD but you might also be less likely to slip back?

Also I've signed up to the cutting back on alcohol thread (in the diaries section) and they are an encouraging bunch . Maybe sign up for the school night challenge?

JonW1984

Thanks for the advice, will definitely look at the cutting down thread. Good tip re buffer too, I keep thinking I can crack this debt in a matter of months when in reality it took years to build up.

I think I've learned a few things about how I tick and what my overspending / overdrinking triggers are over this last few months. Just trying to focus on how the small choices all add up.

Working_Mum

Have you found Dave Ramsey yet? Between him and this forum I have learned new habits!
Spoils if you've ready mentioned DR but I am working on my tablet and it is really.slow!

JonW1984

Working_Mum wrote: »

Have you found Dave Ramsey yet? Between him and this forum I have learned new habits!
Spoils if you've ready mentioned DR but I am working on my tablet and it is really.slow!

I've heard the name but not really looked into what he has to say. Will check it out. I've heard people talking about the debt snowball but didn't think it was relevant as my debt is just an overdraft and a loan.

Working_Mum

Debt snowballing is part of what he advocates but it is much broader than that.
He has written book and he does podcasts and I have found them very motivation when my energy dips.
I read The Millionaire Next Door too which switched my thinking longer term

JonW1984

Posting to remind myself to get back on this!

Since last posting I've changed jobs and have had a couple of great payrises - also renewed our mortgage deal and as we have a better LTV the rate is far keener, net result is from January I'll be better off to the tune of 606 pounds per month so no excuses not to get my debt smashed.

In other news, in addition we'll (hopefully) be celebrating a new baby in June so the pressure is on now to get everything in order before then and wife goes on mat leave.

Hope everyone doing well and ready for Christmas!