Little Debts to Large Savings

Lina_T

I have a car finance debt of £4170.32 with payments of £148.94 per month and a final payment date of 28/10/2020. I know it's not a huge debt compared to others on here but it bothers me, I didn't want to take out finance but my old car eventually gave up the ghost and I didn't have any savings to buy another.

We're planning a family so there's potential mat leave in the future and I would love to get this paid off early and start to accumulate some savings so I will be in a more comfortable position financially, instead of living month to month as I am now.

I've started a diary to help me track my journey and keep me motivated! :beer:

FaceHeelTurn

Lina_T wrote: »

I have a car finance debt of £4170.32 with payments of £148.94 per month and a final payment date of 28/10/2020. I know it's not a huge debt compared to others on here but it bothers me, I didn't want to take out finance but my old car eventually gave up the ghost and I didn't have any savings to buy another.

We're planning a family so there's potential mat leave in the future and I would love to get this paid off early and start to accumulate some savings so I will be in a more comfortable position financially, instead of living month to month as I am now.

I've started a diary to help me track my journey and keep me motivated! :beer:

Hi Lina,

Looking forward to following your diary! I have a similar amount of debt as you, and can't wait for it to be gone!:beer:

Lina_T

Thanks FaceHeelTurn, I've subscribed to your thread to read along

Thinking about my main financial pit falls:

Lunches - I've just moved house and jobs (and sadly suffered a miscarriage) all in the same couple of months, so life is a bit up in the air. I'm not yet in a proper routine for weekly shopping/taking lunches to work. At the moment I'm buying lunch from the work restaurant which is definitely not cheap, approx £100 a month.

Takeaway food - As above.

Clothes shopping - Just because it's a bargain doesn't mean I should buy it. I am a nightmare for this.

Expensive stationery - *chants* I do not need another notebook. I do not need another notebook. I do not need another notebook.

Presents - I'm very generous by nature and love to treat people but this means I end up spending too much on things like birthdays and Christmas etc. My partner and I both turn 30 towards the end of this year so that's potential for some big spending. Could do with not going over the top with this whilst still treating ourselves.

Subscription services - Netflix, Amazon Prime, Headspace, Spotify Premium etc. Going to keep Netflix which I use a lot and ditch the rest.

I'll edit if I think of more.

beanielou

Happy shiny new diary

Lina_T

So it's all kicked off with work. I wont go into detail as I don't want to be identifiable, but the gist of it is I was promoted to a new role a few months ago and the workload is unmanageable due to staff shortages and unrealistic expectations. Raised the issue several times but got no support. This combined with a recent misscarriage has led to me going off with stress yesterday and my manager phoned to have a go at me (because that was going to help!). She's trying to get me in for a meeting. Wondering whether to get my union rep involved as I don't want to be in a room alone with her with her attitude yesterday, I'm simply not well enough.

So now I'm on antidepressants and feeling terrible. I don't see that I'm going to be able to go back, at least to that particular job role.

As such, the future is a lot more uncertain than when I posted last week and it's going to be more important than ever to keep a track on my finances. Unfortunately I don't have any savings to fall back on if I end up out of work completely.

GlendaSugarbean

Talk to your union. They can advise even if you don't want them to attend the meeting. And document everything - if your manager calls you, send a follow up email so it's all in writing. Hopefully they'll their their necks in, but just in case.

Good luck with the debt busting and work worries

System

You need union advice and your workplace should have a sickness procedure. Phoning you at home I would think is not a thing a manager should be doing. Employers do have different sickness policies so I would definitely investigate yours. If you end up having a meeting a union rep is always handy to have with you.

Good luck, hope you feel better soon.

Working_Mum

So sorry to hear this.

Get you game face on, dig out your contract and check what the company sickness procedure. Write down everything you can recall from your phone convo yesterday and also any other meetings/emails/notes etc you have had with anyone senior within your company.

Check out ACAS website as they will have very good advice which is free of charge.

Keep your focus!! Have a little cry if you want to but don't wallow!! Keep notes of anything, even if they seem inconsequential at first as it may help you further down the line.

Good luck

((hugs))

WM x

beanielou

ACAS are very helpful.