The Debt Diary of a 20-something Spendaholic

BelleOfBilboa

Thanks for the support LittleBirdie :j good luck on your journey!

I have been quiet on here lately, I must try making my updates into more of a habit, at least once a week or something!

News on the Natwest overdraft, I had to speak to 3 different customer advisors until I got my answer but basically if I were to pay off my overdraft in chunks, I would be negatively affecting my credit score. I was told that to pay off in chunks, you simply apply for a new overdraft at the lesser value eg. current overdraft sits at £2000 and I want to pay £50, I need to reapply for an overdraft at the value of £1950. Im not good with having money sitting in my account so paying off in chunks would have suited me best, however I dont want to keep chipping away at my credit score so Im going to have to have a behaviour change and just keep adding money into my Natwest account until I have enough to pay it off. My plan is to do it in 2 chunks, pay off £1000 and then basically start again. Im hoping this way it will be more manageable, I wont be able to blow lots of money and it will only affect my credit score once. Thoughts are most welcome though!!

What else is going on? Well not a lot really. Muffin update (#muffdate) the canteen are no longer stocking them as they had been on promotion. Im deeply saddened but alas I must move on

Last month I managed to make £38 from mystery shopping, £40 from cat sitting and £5 from Field Agent! The £40 from cat sitting unfortunately got reabsorbed into my account as I needed the funds at the time but I am quite happy about putting £43 extra into the Next account

So far this month I have made an extra £50 from market research, I will also accrue 3 x pet sitting payments which will probably earn me >£200, I have a mystery shopping assignment worth £22 and its still only the 10th August! I think Im doing pretty well the Next balance now sits at £238 and will be even less by the end of this month! :T

I have however had to make a rather large pay out, an advisory from my MOT back in May was to replace my front tyres as they were nearly worn. I invested in some middle of the range tyres with good ratings. £111 in total but a necessity (just think of how many muffins I could have bought!)

Has anyone had any luck with Populus surveys? I rarely have them come into my inbox and when I do I am usually not eligible and get sifted out . YouGov isnt too bad but will take some time to reach the £50 payout. ReceiptHog is a bit addictive but so easy and quick to manage so I dont mind dedicating a bit of time here and there to that. Still waiting to have my application approved by Prolific Academic but I have heard that PA is the best survey site! Market research and mystery shopping are definitely proving to be my biggest extra earners right now though (not including pet sitting and my second job).

Oh and I wouldnt recommend Field Agent unless you are confident talking to yourself in the middle of a busy supermarket! Definitely got some strange looks for that one!!!

lonelyrat

Hello! How are you getting on? I found it hard to update my diary a lot at first, but the more you do it the more fun it is Although my diary is far less about money than it should be haha!

Love the #muffdate :rotfl: ... But not so keen the muffins themselves are missing Well done on your extra payments! It really does make a difference I think. Can't really advise on the surveys as I never had the patience for them really! Scott_Weiland does loads of them so if you have any questions maybe go give him a shout

With your overdraft it seems a bit backwards. Definitely doesn't make sense to treat it as a new credit application each time... I would do what you plan, just keep adding to it. It's definitely hard, but it is doable if you just keep at it. I kept mine totally separate from my spending money and just tried not to think about it.

BelleOfBilboa

Thank you to lonelyrat for the push I needed to write another post :A

Progress since my last update:

• Paid off Next account (and closed store account) :j
• Found out my accurate total debt figure, (well…excluding the interest):eek:
• Paid off car!!! :T
• Updated my signature

I calculated my current debt figure, adding in what I had forgotten the first time around and the current figure as of today’s date sits at £10396 :eek: This was a little disheartening as when I began my diary (in June?) I thought I was close to breaking the <£10k mark …however I then calculated how much debt I had cleared since starting my diary and the figure is £1929 which made me feel proud getting there!

Some of the money I borrowed from my parents was to buy a car back in 2015. Today is pay day and I have just paid my last car repayment :T I feel very happy about this as it has taken me just under 3 years. So that will be my car and Next account cleared, two little milestones

I have set my DFD as end of 2019 as I don’t want to go into 2020 with debt. I want to start saving for a house deposit ASAP as soon as I am debt-free as I know that is going to take a few years. If I only pay my minimums then I won’t achieve this so I’m going to need a frugal 15 months to really smash my target. I’m hoping I can get a promotion, some pet sitting jobs and some more mystery shopper/ market research gigs to help. Wish me luck!

I still need to do a car boot sale with my OH at some point. Proceeds from that will go to our holiday fund I expect so no rush. I was originally going to put whatever I made on this towards debt but I think it’s easier to put in our piggy bank rather than divvying out who earned/sold what etc.

I’ve been panicking a little bit about how I’m going to afford Christmas (I feel like this every year I’m sure!), I have so much family and now my OH’s family to think about too! But I sat down and did some calculations and I think I can afford it if I budget and I will still manage to make my minimum debt repayments, no overpayments though which is ok for a month or two as something has got to give I guess.
Over and out :beer:

Belle

lonelyrat

Hello! Glad you're back Sorry I went AWOL again for a wee bit there (easily happens!)
Well done on paying off the next account/ paying the car :T that's brilliant!! £1929 is a great amount to have cleared so you should feel very proud!

With regards to Christmas it's great that you've sat down and budgeted it... I really need to take a leaf out of your book!

How are you getting on at the moment?

BelleOfBilboa

Hello to anyone that might be reading....lonelyrat this is mainly aimed at you :rotfl:

Wow life is crazy right now. Ever since I realised the magnitude of my debt and figured out an actual number I have been so motivated to reduce it but it’s taking its toll

My days consist of getting up at 5:30am so I can make my way to a clinical trial before work. I work full time but I then have to fit in the horse, my second job, cat sitting jobs, market research and life eg. washing, food shop, cooking, sleep.:eek: I am exhausted. To top it all off, I have a job interview next week and I have to perform a 10 minute presentation for the panel. This week and next are two of the busiest weeks in my work calendar too so I can’t even get the day off to go to the interview! We compromised and they have let me do an skype interview from home

I know you may be thinking that writing on here is the last thing I should be doing with my time… you are right I am procrastinating but it is also helping to get my head straight and realise what I need to get done in the time I have.

My weekend plans were going to consist of travelling for an hour tomorrow to meet up with my parents for lunch, followed by running a canicross 10k. Then on Sunday I had planned to travel for two hours to meet up with one of my best friends from uni who I rarely get to see because of distance. I’ve been realistic and cancelled the majority of my plans. The 10k was booked and paid for and I’m running someone else’s dog so I can’t let them down but as soon as I get back from the trial in the mornings I will dedicate the days to writing the presentation and prepping for the interview. My friends and family will have to wait luckily they are very understanding and they just want me to be happy…which I’m not at the moment with my current job.

Life is crazy. I work best under pressure but I have to admit I am rather stressed. And tired. The clinical trial finishes on the 19th so not too many more early starts. The horse is being neglected because of my busy schedule, poor thing, I’m really missing him but the time off will do him good. I hope! If he is a rocket the next time I sit on him then I can only blame myself :rotfl:

It will all be worth it in the end and if I get the job then I will slow down, it’s a pay increase and I would have to quit my second job, cat-sitting and market research etc. It is also kind of my dream job..so keep your fingers crossed for me please! :j

Would love to hear how anyone else manages to balance so much and survives to tell the tale. Please do share

adg89

Hi BelleOfBilboa !

Just found your diary! Loving your story so far and will be tagging along to see when you finish your debt journey!


Best of luck and well done for all you have paid off so far!

lonelyrat

Eeek! Fingers and toes are indeed crossed for you! I really hope you're successful :cool: You are an actual superwoman.... I am tired even thinking about managing to juggle everything you do :eek:

Probably sensible to cut down the other things at the weekend.... You are so busy as it is and there will be time to make plans when you have your shiny new job!

BelleOfBilboa

Hi adg89 thank you for joining :beer:

I’m back with my monthly update! I tend to be very good at keeping up to date with the diaries I’m subscribed to but less great at keeping up with my own!
So my biggest bit of news is that I GOT THE JOB!!!!!! :j Woooo go me! Although I have no idea how because the interview was shockingly bad:eek: I felt it was my worst one to date but they must have thought otherwise. I start in the New Year and I’m very much looking forward to a change! If any of you are unhappy in your current role and debating moving on then I would recommend you definitely start looking and go out there and throw yourself at something else! Life is too short to be clock watching and miserable!:o

There have been less early mornings recently as I finished the clinical trial and received a nice lump sum which I intend to clear at least half of my overdraft with! Although, I may wait a month or two until I have received my new salary as I might need to borrow from myself if there is a lag between payslips. My new pay day will be the 23rd which is a whole week earlier than my current job so I may have missed the boat for January pay.

I’m still quite busy with the horse and the second job but life has definitely calmed down a bit which is helping me prepare for Christmas! I have quite a large family so my biggest aid has been writing a list. And checking it twice! I’m looking forward to a festive weekend filled with shopping and mulled wine this weekend :j

My new job will pay more than my current earnings so I may increase my debt repayments a little next year (by £50 each month) but I don’t want to get obsessed with it, I need to enjoy life too and start saying yes to things. My goal has been to be debt free by 2020 and I am still determined to achieve that. This diary helps to keep me accountable and I’m always checking if I’m still on track

By my trend, I won’t be back until after Christmas so I would like to wish anyone reading this a very Merry, warm and cosy Christmas with your loved ones. See you in 2019 for a New Year with new goals :rudolf:

Belle xx

lonelyrat

I tend to be very good at keeping up to date with the diaries I’m subscribed to but less great at keeping up with my own!

:rotfl: Easily done! When I first started my diary I think I only did monthly updates too. I was always here, lurking, but never posting Such a creepy creep!

Glad to see your post and a massive well done on the new job! There must be something in the water Nice that there will be a pay bump!

If you aren't back before the new year then I hope you have a fab festive period Will be checking in in the New Year for updates on the goals!

Littlebirdie

Big congrats on the new job! Great to see other ‘twenty somethings’ on here. Keep it up x