Oh pants I messed up BIG!!!

Broke_Bear

I haven’t done one yet, or rather not one I’m happy with yet for posting. Once I have a month or two of actual figures for where my money goes i will post one up for tweaking. The scales really did fall from my eyes and it will take a little time to get a full and accurate picture of what I need to survive this journey.
The only bit of my outgoings I am sure of the exact figures for is the debt and how much I have ringfenced to get it gone!!

SOA will hopefully be available soon thanks Scott

Scott-Weiland

If you do not want to post it here it is fine my only advice would be too be honest with yourself once you have put it together.

I have put a few examples below all of these can help boost disposable income and those little tweaks will get rid of your debts quicker. I see a few mistakes people make the first is overspending on non essentials/the next is over spending on utilities. Having a 90 pound sky tv package is fine if you can afford it as an example.


Do you need the latest smartphone, could a sim only contract be an option when its mobile phone renewal time.

Next join Topcashback and anything you buy online see if the website is on there. I have being on there a year or two and i have clicked nearly 700quid. Just eat/ebay/gocompare/waterstones etc etc are all on there.

Next relates to above re all your insurances/utilities/mobile phones/etc have a look at gocompare via top cashback. I recently switched in the last 6 months a friends car insurance and broadband and i clicked about 80quid in cashback.

Also do you really need that 30quid pet insurance policy surely just saving the 30quid would be a safer option.

look at things like sky/or virgin media etc and see if you could get better deals elsewhere eg nowtv or netflix i saw another poster recently binned sky's tv package and save themselves 35 pounds a month. Even if your under contract ring them up say your in a bit of financial difficulty you dont have to give them the details and ask if they can do you a better deal. I did this recently with EE and go £7.50 off my mobile phone bill for the last 6 months of my mobile phone contract

is there an option to declutter ie ebay, ziffit.com, webuybooks.co.uk, music magpie,mazuma mobile etc etc etc

Also research too see if you could save funds with petrol or diesel by using a nectar card or a tesco clubcard.

finally check out doing online market research surveys there is pages on the forum. (see my signature)

Thistlewhistle

Happy new diary BB,


You asked about the order in which to tackle things....


The snowball way is fantastic as it tackles the highest interest bearing debts first but depending on how your brain works, sorting out the little balances can be a good approach too as it makes you feel like you're moving forward more quickly, even though in the long run it may cost you more money. It can help you free up a credit card too so that you might be able to take advantage of switching an interest-bearing debt onto that freed-up card at a 0% or lower % interest. Bear in mind that there will most likely be a fee for this (usually about 3% of the debt transferred) - you'll need to do the sums to see if it's worth doing.


I managed to get all my CC debts onto 0% by doing this and it's definitely saved me a fortune in interest and I now know that ALL my payments are clearing the debt and not paying interest.


I now only have one CC debt (albeit a large one) but it is all at 0% until June 2020. The goal setting aspect of YNAB is a great help in assisting me to sort all this out by that date and I'm on track to achieve it too.



Good luck!!


Thistle

enthusiasticsaver

I think you should tackle the highest charging debt first. The BC £2163.47 at 17.68%. Once that is gone tackle the shortest deal which is T at £1069.


Don't ignore savings for emergencies so you are not tempted to use the cards again.

LullaBelle

Happy new diary!


My debt is a similar amount to yours. It is slowly coming down but the main thing is that it is coming down and I am not getting into any more debt. I'm hoping to be debt free in about 4 years. Fingers crossed. Good luck with the debt busting!

Broke_Bear

Thanks everyone for taking the time to read my little journey, I will be glad of the company as it will be a marathon to get this gone not a sprint.

OK so the scores on the doors are in for my first month paying down my debt, all new statements in and accounted for:

BC-10,385.85
M- 6,346.98
T- 6,676.15
V- 5,296.32
L- 0

£28,705.30
1.75% paid off
76% utilisation

I just need to make it to the end of September on the pennies left in my account and I will have completed my first full MSE month.... It is going to be tight but doable (not that I have a choice!!)

I will update my signature at the end of each month I think as that will be the final month figures with any left over budget accounted for...left over budget... wishful thinking but even a penny left over is a penny off the BSN.

Not doing so good at the NSD's, still on 6/20 it is possible I may have to revise this or do I still leave the target at 20 and look to do better next month? I guess it didn't help that I was away for work this week so spending was unavoidable but I will get that back on expenses with a little extra to go towards the BSN hopefully.

Broke_Bear

Well that is another 2 NSD's to add- now on 8/20. Had a very wobbly weekend with the tears etc, just don't seem to be able to stop crying when I think of my bears. I miss them soooo much and I keep thinking of what my older one got me through. I literally would not be here if it wasn't for her. I know it will get better but it seems like I have a very long road ahead of me, can't quite see the light at the end of the tunnel yet but will keep moving forward and hope it has not been switched off due to cutbacks!

On the upside it looks as though when I am sad I cook... the freezer is now very well stocked with home made meals and I have the ingredients to make more just not the room in the freezer! Meals list made so far:
12 soups - 3 different varieties
4 lasagnes
4 sausage casseroles
4 cottage pies
Sausage pie - 8 individual portions
Apple pie

All made in one day! We are still within the food budget for the month and have almost enough meals to last

Broke_Bear

Somewhat more positive today, almost another NSD but i did give in to the tuck box in work ... a bag of crisps and a tube of smarties for the grand sum of 80p
I thoroughly enjoyed them!!

Came home and did cottage pie and veg out of the freezer for me and OH. I am loving this having easy dinners, must do this batch cooking again and expand the freezable repertoire.

Sooo looking forward to updating my signature at the end of the month with the new figures though I feel a bit daft making myself wait until then but a lot can happen in 2 weeks and it will help to keep me focussed as I want to post the good progress seen when the statements came in. I think I have been bitten by the dfw bug!! ��

Broke_Bear

Happy Friday everyone... roll on 5pm so I can escape the corporate treadmill for 2 whole days off!!!

DSD is up this weekend and am hoping to get her helping with some wallpaper stripping in the kitchen. We were going to head out and climb a mountain but the weather is pants for the weekend so inside jobs it will be! The whole house needs doing up but I’m going to get the kitchen looking better (the current sicky yellow colour makes it look really dirty). We can’t afford to replace the kitchen yet but if I can spruce it up with a lick of paint it will last until we save up. Current major project is the bathroom and this should hopefully be getting replaced in October, nice builder man due to pop round and finalise details in next week or so and fix a date....we will then have a fully functional bathroom Whoop Whoop

On the pennies front, 1 week till payday but as YNAB is my friend it doesn’t count until the 1st of October. Budgets seem to be lasting and a little boost should be coming in on Tuesday as my expenses for the work trip last week should be paid in. Fingers crossed there will be a little left over for a small payment off the BSN

Broke_Bear

Well the weekend has started, OH is on the long journey to collect DSD and I am doing some diary reading on here

No NSD for me today as had to pick up a few bits and pieces and of course a couple of berry ciders from Ald! for while I am sat here on my todd.

Looking forward to a good day of decorating tomorrow...I will get at least one room done and make the house look passable or at least close enough to passable that a blind man on a galloping horse wouldn't notice it needs so much work!!