Learning to live within my means

astrocytic_kitten

Thanks Alicia, that’s very kind! You’re spot on about the need to address the emotional issues underlying clothes spending... Cranes in the sky by Solange popped up on my music shuffle the other day and I realised how much online shopping and obsessing about having a garden and even reading are ways of escaping from how I’m feeling.

I find mindfulness quite scary, which I’m sure means I need it all the more! A good friend suggested it to me the other day too, and when I’ve tried it in the past it has helped. Lots to think about.

DebtFreeMonkey

It can be quite scary opening yourself up to YOURSELF but it'll be worth it in the long run. Things that used to bother you won't so much and you'll just be more at peace within yourself and your flaws.

astrocytic_kitten

If all goes well, I’m now 2 years from my DFD of September 2021. I’m not feeling as happy about it as I expected. I know I’m lucky to be paying it off at the rate I am and at the start of the year finishing in under 3 years seemed impossible...so I don’t know why I feel quite flat about the thought of 2 more years of debt busting. It’s not like I’m struggling to survive and cutting everything to the bone either, I feel like I’ve got a decent balance in my budget.

It just feels like I’ve been climbing the hill for some time, and there’s still more to climb... maybe the reality of actually needing to have money to spend it is starting to hit? I don’t know. December last year was when I had my LBM, so I guess I’m almost at a year of being sensible.

astrocytic_kitten

Can’t believe it’s almost a month since I last updated. Feeling much more positive about things now. I’m at 30% of the debt paid off, and aiming for 1/3 to be paid off and under £15k by the end of the year.

I remember 15k on the way up (and feeling sick, and scared, and swearing I’d put a stop to the overspending and not let it get worse...and then not changing my behaviour in any way), so getting to it on the way down feels like a milestone.

Have also decided to think in months and not years - 23 months to go sounds more do-able, somehow.

Spending is mostly under control...I’m going through a batch of ill-health so grocery shop has gone up, but the ability to do that has been built into the budget. I’ve started texting a friend whenever I get the urge to spend on something unnecessary and she points out it’s unnecessary, which is helping. I’ve got a few spends coming up, e.g. a new rug, but budgeted for. I seem to go though phases of thinking I’ve enough and phases of feeling like I don’t. Obviously I do have enough, I’m very lucky all considered. I just need to convince myself of that sometimes!

In other news, quite enjoying autumn, though my dreams of a garden have now been replaced with dreams of a wood burning stove :rotfl:

Drawingaline

Congratulations to 30% gone.

astrocytic_kitten

After a couple of bills came in much higher than expected I now have £3.22 to get me through till payday... Thankfully this isn’t as much of a disaster as it would have been before, I have enough food in and no spends needed so I should be able to get by ok.

I was able to pay the bills without going into debt by trimming a few categories for the month and raiding the (newly instated) clothes and holiday pots. This whole budgeting malarkey and the ability it gives you to be in control still seems slightly magical :rotfl:

Just looking forward to payday now, and being able to pay some more off the debt! Will stay in the £15k barrier next month, but get below it in December.

astrocytic_kitten

Scary bananas time here...doctor has told me in no uncertain terms to reduce my work hours NOW (to be honest I should have reduced them a couple of years ago, but couldn’t do that and also service the debt).

So I’m looking at something around a 35-40% cut in pay, and my DFD going from under 2 years to 3.5. I’m aiming to still get under £15k by the end of the year as that’s a huge milestone for me, but after that I’ll be almost halving my monthly payments. I currently pay for help with things I can’t manage, like a cleaner, and hopefully if I start to improve my health that would free up some money that could go to debt. There’s definitely going to be a transition period where I still need that but have a reduced wage though.

I’m nervous about the lack of wiggle room in my new budget, I haven’t increased my debt since my LBM almost a year ago now but I know I’ve been lucky to have flexibility. Feels like the real test is coming!

astrocytic_kitten

Spending today looking at Christmas presents and trying to stay properly within budget instead of adding little ‘extra’ gifts that mount up.

Things are still a bit up in the air work-wise, but I reckon I have one more wage left at my current level before my pay drops. I have £600 left on a credit card with an interest free rate expiring in February - I’d been looking forward to posting that for the first time in my life I’d actually paid off a card within the interest free period. I think I can get close to £400 to pay off with my November wages, but after that things will be very tight so I’m scheming ways to get the final £200 paid off before the rate expires in February. I have some things to list for sale, though none will get a huge value, and I’ve been doing some surveys too.

Once the card is gone I just have my loan, which is at 10% and with the credit union. I’ve been making decent overpayments on it so far and if things got really bad health wise they might let me take a break from paying due to the overpayments. Due to my work I need a clean credit file.

However I’ll just be able to do the monthly payment soon....and according to the credit club I have a 95% chance of being accepted for a loan at 3.2% to cover the balance of current loan, which is a massive reduction in interest. I really can’t decide what to do for the best.

janb5

I remember you said in your earlier posts that you have listed on Ebay..would that help? At least once the listing is done you can re enter it again. Sometimes things that I expect to sell straightaway and the opposite happens!

astrocytic_kitten

Thanks Jan, that’s definitely the plan - I just need to get round to taking the photos to list the things I’ve put aside.