CreditCardJunkie's back again...

CreditCardJunkie

vic38 said:

Well done on reducing your debt and on birth of your daughter (bit late but only found you this morning!).  Going forward I really recommend using different pots for all of your regular expenses.  I've been doing it for 3 or 4 years and it makes a huge difference to my ability to budget properly.  I have standing orders to transfer amounts to savings accounts within same bank (I use First Direct) each month, straight after pay day: Car/Insurance (covers MOT and Servicing too), Clothes, Gits/Xmas, Holidays, School extras, Haircuts to give you an idea.  Initially it was a bit of a balancing act to get it right but now I wouldn't do it any other way.  All the best for your return to work or furlough and well done on staying focussed.

Thanks Vic! I did start a spreadsheet to work out how much I'd need for presents. I worked out I spend around £1000 a year (allowing for DD now too) the thought of putting £83 per month away for presents made me want to cry! I definitely need to start an Mot fund, I'm planning on doing this as soon as I get back to work! 

curlytop12

just read your whole diary, wow, you have done well, especially with the unforseeables!
have you got rid of your nationwide CC, as in, cut it  up? i think you would manage without it, you have just got into the habit of juggling
good luck with the job/ childcare etc. glad you are enjoying your little one.

CreditCardJunkie

curlytop12 said:

just read your whole diary, wow, you have done well, especially with the unforseeables!
have you got rid of your nationwide CC, as in, cut it  up? i think you would manage without it, you have just got into the habit of juggling
good luck with the job/ childcare etc. glad you are enjoying your little one.

Thank you! I haven't cut it up, I just don't feel like I have enough cushion if I desperately needed something, there's money there. I can't remember the last time I used it for something I didn't pay off straight away (I booked some flights but paid off straight away).
Hopefully when I get back to work I can build a 1k emergency fund (same as the limit on that card) and then I'll be confident enough to get rid of it.

CreditCardJunkie

Wanted a more round number so paid £30 off to make the debt total £450.
Savings are down to £130, because of the extra £30 & I had good fun buying some much needed new clothes online & birthday present bought this month. 

Sarahwithlove

Are you paying interest on the debt? If so then be worth keep paying it off. If not is it worth getting an emergency fund together first? 

CreditCardJunkie

Sarahwithlove said:

Are you paying interest on the debt? If so then be worth keep paying it off. If not is it worth getting an emergency fund together first? 

Hey Sarah, no it's 0% until Sept 2020. I know everyone says about the EF but my mindset just wants this debt gone. DH has £500 set aside as an EF and is building on this every month. I plan to start building one when I'm back to work and have a decent surplus! 

CreditCardJunkie

Patiently waiting for payday to roll around to see what my pay will be to see if I can clear the final 450 or not this month. 
I've paid for new brakes for my car and paid towards a plumbing emergency repair out of my savings which are now back to almost 0. But I haven't had to use my credit card. I feel like a reformed character! DH had to replace an alloy and 2 tyres this month too which came out of his savings. I really feel that we have came a long way, especially to clear debt on maternity. We still have the boiler to address, but it's 0% to Jan 2022 & I will focus on that from end of June when I get back to earning again.
After a bit of a rough week, I'm feeling positive today 🌈

CreditCardJunkie

Anddddd I have paid my last £450 🎉🎉🎉🎉🎉🎉🎉
I did get paid less than I expected but I still had enough to cover the last of my personal debts My journey isn't over yet. We have a little joint debt to tackle so I'm going to start a new journey as I feel like I'm entering a new chapter!

Sarahwithlove

Congratulations that's great news. How much is the joint debt? Will hubby contribute towards it? 

CreditCardJunkie

Thanks Sarah I'm buzzing He will yes, I've started a new diary for it! It's £2334 all at 0% so we're going to focus and get some savings together for a decent EF!