Sort of debt-free but hope to be a super-scrimper in 2019

[Deleted User]

Karmacat wrote: »

CBC, I'm so glad you started this diary - it's been really valuable to know the struggles that you faced, and how hard you've worked to get yourself to where you are now, I'd no idea.

A new credit card paid off in full every month by arrangement is a great idea! And so is a treats budget once you're debt free - once the **need** to pay off is gone, I've seen over the years that people have a huge amount of difficulty learning how much is appropriate to spend.

You're doing great

Bless you, KC:T. You've been a tower of strength to me whenever you've responded to the posts I've made on your diary:A. I'm so happy that you're visiting mine:)


I know exactly what you mean about finding a happy medium in a 'treats' budget. Definitely a work in progress;)

jwil

Good luck with the plans and the car savings. I got rid of my 18 year old car last year as it was starting to constantly need repairing. I'd owned it for 10.5 years. I spent £3500 on a replacement car and hoping it will last me a good 10 years before I need to replace it. I want reliability over anything else.

[Deleted User]

jwil wrote: »

Good luck with the plans and the car savings. I got rid of my 18 year old car last year as it was starting to constantly need repairing. I'd owned it for 10.5 years. I spent £3500 on a replacement car and hoping it will last me a good 10 years before I need to replace it. I want reliability over anything else.

They're like old friends, aren't they? When mine starts to need more spending on it than it's worth I'll reluctantly have to say goodbye to it:(. I haven't owned mine for the whole of the 17 years, it was just shy of it's 1st MOT @ 3 years old when I bought it, but we've been together for 14:j, Mine has just needed the normal wear and tear replacements so far, exhaust, battery, drive belt, spark plugs, brake pads and obviously tyres. The suspension, gearbox and clutch are still OK as is the engine, touch wood;). I haven't a clue what else might go wrong or what it might cost to fix. What goes on under the bonnet is a total mystery to me. I just hope for the best, get in and drive:rotfl:. If it starts making a funny noise I ask OH what it might be and he usually has a good idea if a garage visit is called for. He can usually fix simple, obvious things that don't need specialist equipment and tools himself.

enthusiasticsaver

You sound as if you have a good plan for after the defaults drop off your file and as you say many of the good regular savers or even high interest current accounts like the Nationwide flex direct are only available if you have a clean credit record. Managing a credit card is a good start to that so long as you do as you are doing and repay in full each month. That tends to put the brake on overspending along with keeping a low limit. We have two credit cards but neither have a limit of any more than £2k and they are both paid off monthly. On principle I refuse all credit limit increases and I cannot envisage a need for a higher limit. Anything of a high value like a holiday/flights etc we use a debit card.


I am a massive fan of both internet savers like the Tesco one where you can squirrel small amounts away and they add up and regular savers. Not a hugely high interest rate but there aren't that many good rates around without jumping through the hoops of current account T and C of minimum funding requirements, direct debits etc etc. We use those to save up for new cars, large home projects, holidays etc. I think as you are basically ignoring the debt and just paying tokens getting into a savings habit would be a great stride forward. Budgeting personal money for treats too is a good idea.

System

I understand where you are coming from with regard doing a car boot to make enough to buy dinner etc. We have done that in the past, before we embarked on the DMP journey and realised there was light at the end of the tunnel. We used to try and make enough to pay a CC bill some months.


Love that you have a CC now and use it wisely to rebuild your credit score. I was considering doing that. Will have to have a serious think about it.


You write such interesting posts on your diary, CBC. No wonder you have so many followers. Think mine is obviously full of rubbish....lol.
Have a good day. x

elizabethhull

I'm really glad I only had my first credit card about 3 years ago. I know myself, and when I hear of perfectly reasonable, intelligent people getting into strife, I just know I'd have been another of them. I have in the past taken out several loans from the bank (unknown to OH) and I was terrified the whole pretence would come crashing down.

I am also trying to eat up what is in the house. Then on Saturday, DD2 came round and offered potatoes & sprouts surplus to her needs (she'd over-catered for Xmas) and it just filled the gaps perfectly. It's no good having tins of wondrously exotic this'n that with no basics.

You've obviously spent a lot of time analysing what you have already in so many different departments - amazing isn't it that even with so much 'stuff' there is a compulsion to buy more ?

Oh, and you're definitely NOT alone on here talking to yourself !!!

BalanceBy50

Loving your well thought out posts CBC XX

jwil

carbootcrazy wrote: »

They're like old friends, aren't they? When mine starts to need more spending on it than it's worth I'll reluctantly have to say goodbye to it:(. I haven't owned mine for the whole of the 17 years, it was just shy of it's 1st MOT @ 3 years old when I bought it, but we've been together for 14:j, Mine has just needed the normal wear and tear replacements so far, exhaust, battery, drive belt, spark plugs, brake pads and obviously tyres. The suspension, gearbox and clutch are still OK as is the engine, touch wood;). I haven't a clue what else might go wrong or what it might cost to fix. What goes on under the bonnet is a total mystery to me. I just hope for the best, get in and drive:rotfl:. If it starts making a funny noise I ask OH what it might be and he usually has a good idea if a garage visit is called for. He can usually fix simple, obvious things that don't need specialist equipment and tools himself.

Yes, they are like friends. Mine had had a new clutch and gearbox and there were getting to be regular issues. It cut out on me on a busy roundabout, which frightened me, and that was the final straw leading to my decision to get rid of it. I worked out once what I'd spent on it, and as well as the £3k purchase price, I'd only spent about another £3k in MOT, servicing and repairs in the whole time I owned it (up til the last year) so it was an absolute bargain. I'm hoping this car will be the same.

[Deleted User]

elizabethhull wrote: »

I'm really glad I only had my first credit card about 3 years ago. I know myself, and when I hear of perfectly reasonable, intelligent people getting into strife, I just know I'd have been another of them. I have in the past taken out several loans from the bank (unknown to OH) and I was terrified the whole pretence would come crashing down.

I am also trying to eat up what is in the house. Then on Saturday, DD2 came round and offered potatoes & sprouts surplus to her needs (she'd over-catered for Xmas) and it just filled the gaps perfectly. It's no good having tins of wondrously exotic this'n that with no basics.

You've obviously spent a lot of time analysing what you have already in so many different departments - amazing isn't it that even with so much 'stuff' there is a compulsion to buy more ?

Oh, and you're definitely NOT alone on here talking to yourself !!!

Thank you, Elizabeth:T

I love reading your posts on HHoD's diary as they are so well thought-out, sensible and empathetic:). I also see you as one of the 'perfectly reasonable, intelligent people' that you mention in this post and the fact that you doubted your own ability to handle the temptations of credit cards makes me realise even more than ever that I should have been aware of the pitfalls myself. Thank you so much for sharing that and the confession of your secret loans on here:kisses3:. I too know the anxiety that something terrible might happen as a result of having loans (and other debts too in my case) that no one else is aware of. It's so wearing and stressful.


I'm not blaming the credit card companies for my financial problems (well, not completely:rotfl:) but I remember I was sent my first credit card completely 'out of the blue' without even applying for it:eek:. This happened in the early 1970s and I banked at NatWest then. They sent out totally unsolicited Access credit cards to their customers. Credit card ownership among my circle of family, friends and colleagues was a bit rare back then, the offer of one made me feel a bit 'special':o and I grabbed it with alacrity. That was the start of the slippery slope and once I started receiving offers from other companies too I was hooked and just too weak to refuse. At one time I proudly held 8 cards (including an American Express Platinum) with a total overall credit limit facility of about £100,000. My salary was a mere fraction of that:eek:

[Deleted User]

I planned to write something of my musings on spending on potential 'treats' now I have a little money to indulge. Not much time now so will return to it another day. Thanks to the lovely people who have mentioned the subject of 'treats' recently:T. I've been frugal for so long that it still feels odd to even think about treating myself:eek:. I have a few ideas for keeping this in check though as my main focus for 2019 will be will be save, save, save.


I just received an email from WH Smith with a £5 off a £30 spend code. They mention savings on items to kick start the new year..... 'pick up that book that Santa forgot to give you, or get stuck into a spring clean with some new storage boxes'. The temptation begins!!!!!:eek: These items are probably my 2 favourite spending catagories although charity shops have been my friends for many years now when I've been on the look-out for either:j