Venturing Out of the Vault (of Debt)

Pip_Boy_111

Sanctioned_Parts_List wrote: »

There was another thread along these lines not long ago. For a lot of us, debt was almost normalised at university, with the easy credit conditions and low charges creating a kind of "minus blindness" that meant, when we finally exited the protective environment of academia and became liable for interest and charges, we didn't really see the problem with being in debt, and just meekly handed over high percentages of interest each year.

Actually curing oneself of "minus blindness" is a tough challenge - it's rather like that first cigarette, a habit best not caught in the first place, but tough to kick once you have it.

100% correct on the cigarette comment. Another stupid thing I've managed to kick. My only regret is not keeping track of how much I've saved from not paying out £10+ for every packet over the last year or so. If we surmise that a pack is £10 and I was smoking around 60 or so a week. £30 x 52 = £1560 :eek: figure is probably higher as I haven't bothered to research actual prices.
As for the debt, I suppose you just convince yourself that it's not debt to be repaid. It's just a figure of x per month (minimum payments) to have whatever shiny new thing you've got.

Pip_Boy_111

Quiet day today, debt busting wise. These are the days that progress feels non existent, although I know good progress has been made this month. "Tidied" £2.49p to the CC so something has happened at least.
Todays ramblings Not very MSE but what i wouldn't give for multi room Sky. Want to watch the F1 but the family are very averse to such TV viewing. Will have to record and watch later on tonight. :mad:

Sanctioned_Parts_List

Does Sky subscription not allow you to use Sky Go to stream another channel while your set to box is tuned to something "not sport"?

Pip_Boy_111

Sanctioned_Parts_List wrote: »

Does Sky subscription not allow you to use Sky Go to stream another channel while your set to box is tuned to something "not sport"?

It does indeed, however, i refuse to watch this on a lesser device than the "big" telly :rotfl: It's fine. Watched it when dear family went to bed. Good to see Mclaren back in the mix :T

Morning Ramblings
The thought of not having an emergency fund is one that makes sense to get the numbers down, but is still a bit of a leap of faith. As i said previously, the CC has a £4000 limit. Have read and re-read Martins piece on emergency funds to double check i'm doing the right thing. It seems so. Have ordered a new card after I cut the old one up. This will be stored in a dark place away from the main cards and is NOT for everyday spending. The PIN will remain unopened and stored separate from the card. A while back i wouldn't have entertained having it, but with our new outlook and the fact that we have managed a budget without credit for a while now i'm 100% confident we won't slip into old ways. That would mean losing the game. And i HATE losing :rotfl:

Pip_Boy_111

No payments today. This is the time of the month where everything feels a bit sh*tty (payday is middle of the month). Not much available in the current account, which gives the impression of being skint. All bills are paid, however, and all payments towards debt have been made, with over payments, so all is well. It's just not great seeing an available balance of less than a tenner, even if we do have everything we need and everything budgeted for has been sorted.
Today is a day of soup making with veg that needs using up. This will be frozen so that we have a stock of "ready meals" available and reduces food waste.
There really is nothing that we need available cash for this week, but it's still always hard to see absolutely no margin ion the current account, even if it is EXACTLY how the plan was supposed to go. There's also that lull after blitzing the numbers earlier in the month.
Ah well, roll on payday when the game will be ON :T

Sanctioned_Parts_List

Pip_Boy_111 wrote: »

No payments today. This is the time of the month where everything feels a bit sh*tty (payday is middle of the month). Not much available in the current account, which gives the impression of being skint. All bills are paid, however, and all payments towards debt have been made, with over payments, so all is well. It's just not great seeing an available balance of less than a tenner, even if we do have everything we need and everything budgeted for has been sorted.
Today is a day of soup making with veg that needs using up. This will be frozen so that we have a stock of "ready meals" available and reduces food waste.
There really is nothing that we need available cash for this week, but it's still always hard to see absolutely no margin ion the current account, even if it is EXACTLY how the plan was supposed to go. There's also that lull after blitzing the numbers earlier in the month.
Ah well, roll on payday when the game will be ON :T

But that's just a matter of perception.

You could also look at it as having your balance of repayments to expenses spot-on perfect, and evidence of spending under such control that you can afford to leave your accounts be for a week until payday.

Of course, leaving a tenner behind... such inefficiency :rotfl:

Pip_Boy_111

Sanctioned_Parts_List wrote: »

But that's just a matter of perception.

You could also look at it as having your balance of repayments to expenses spot-on perfect, and evidence of spending under such control that you can afford to leave your accounts be for a week until payday.

Of course, leaving a tenner behind... such inefficiency :rotfl:

:rotfl: so so inefficient. I will spend all night fine tuning my budget!
The sensible part of me knows this is good and normal and means that everything is on track. The worrier in me constantly thinks I've forgotten something and there won't be any money to cover it. Completely irrational of course. This budgets been in action for a few months and I've NEVER done that. That damn human mind again :mad:

Pip_Boy_111

Not much to update today, just to say I read through catandys diary today and what a DFW inspiration. If anyone needs inspiration and an example of how to fight on through regardless, please, have a read. Makes me realise i have nothing to mope about or feel down about after reading how someone can keep positive and keep on keeping on through tough times.
Thankyou Catandy. I hope everything works out. You deserve it. (Subscribed by the way) :T:T:T:T

Pip_Boy_111

Today have sat down and gone through all the expenses and income for the month of March to make sure my spreadsheets and budget are workable long term. Have to say i'm pretty pleased with myself
Quick caveat. The entertainment figure looks high. Admittedly it could be slashed a bit more but in this I also include things such as TV subscriptions, after school clubs, holiday savings, train travel (as i don't have a travel heading, just motoring), and events such as christenings and weddings etc. Please don't think i'm out partying and throwing money away, i just can't be bothered to create another category :rotfl: I do have each spend itemised with a description so i know what it is even it only loosely fits the "entertainment" category. To the figures....

TOTAL INCOME FOR MARCH = £3554.33p
Essential Bills (mortgage, utilities etc.) = £999.07p
"Entertainment" :rotfl: = £414.41p
Eating Out (includes school dinners and mothers day meal out) = £84.05p
Shopping = £323.67p (DW did a "top up" at Coop around the corner for convenience)
Birthday presents (3 of :eek:) = £30.26p
Motoring = £210 (petrol and car tax, 12 months at £140)
Debt Repayments (and overpayments) = £1332.82p:j:j
Maintenence (new lawnmower as old one literally blew it's engine up) = £119.26p

Total Expenditure = £3513.54p
Income - Expenditure for March = £40.79p

So pleased that the budget is workable and we've managed to make massive overpayments on the debts. Slightly annoyed that my maths was poor enough to leave £40 unused across the various pots! Must do better:rotfl: At least it was wrong the right way though!
In all seriousness though, this is great. We seem to be on the right path to pay off debt as quickly as we can without scrimping so much it becomes depressing and a chore. The life/debt balance is about right at the minute, and in all honesty we could probably cut back a little more and still have a good balance. Especially if "someone" doesn't pay the stupid prices in the Coop in exchange for the convenience of a 50yd walk :rotfl::money:

Happy man now. We just need to keep on tracking our spends and updating the spreadsheets to make sure this trend continues indefinitely. We are in agreement that our budget is our budget and any overtime or bonuses will be paid towards the debt. Going forward we've decided that we'll withdraw £150 cash on payday and put it into an envelope and this be our "fun" money for the month (see now why the entertainment heading is a bit misleading?) Anyway, bit of a rambling post and maybe a bit confusing as i'm not great at explaining our method in words, but rest assured, the numbers don't lie. :money:
Have a great evening all. :beer:

Sanctioned_Parts_List

Pretty good effort :beer: Don't worry about that surplus £40, you'll get there in the end I'm sure by now your DW knows price of convenience as a cost per unit distance, although don't rub it in too much: while sleeping on the sofa is just like camping, it's also not great for your back