Here I go again ----

Tryingtomanage

Hello

2 years ago I became debt free :j

In the past two years I have managed to rack up £12,309.44 :eek:

I do have some excuses but at the end of the day they are just excuses. I am really disappointed with myself for getting myself into a worse position than I have ever been in before.

I now realise my major issue is that I have never had a budget, if I want something I'll will just buy it. Although the flip side to my character is if I put my mind towards something I (99% of the time) achieve it.

I am hoping to follow the Dave Ramsey baby steps.

Breakdown of my debt:
Sofa: £333.20 (£33.20 per month)
Argos: £1393.05 (Buy now, pay later - ain't that the truth!!!)
Barclaycard: £2237 (£67.00ish a month)
HSBC CC: £4532:99 (£116.32 a month)
HSBC Loan (£144.64 a month)

I have created us a real proper grown-up budget to follow.

My goals/plans for the upcoming few months are:-
- follow the budget and adjust as needed.
- save £1000 emergency fund
- start paying off the debt.
- once direct debits have come out, take the cash out of my account and use a cash envelope system.

:j

Tryingtomanage

Sod's law

- It's Sod's law that the month when you get your lightbulb moment that your debt is spiralling, is the same month that the car mot and service are due (luckily it passed) but the report states you will need 3 new tyres and new brake pads in the next 2 months.
- Also an unexpected childcare bill ( I thought it'll be monthly payments rather than termly)

Assumptions the mother of all mistakes!!

charlotte1988

Good luck with your journey to becoming debt free

MovingForwards

Good luck!

It's been beneficial having a diary

When I was paid monthly unused to draw a weekly 'cash' budget, when it was gone that was it til my next cash budget. Now I can walk around with money in my purse and not spend it, I even find notes I've stashed in my purse for an emergency having completely forgot I had put one in, put one in a different section and another section!

Another little thing I do, now I'm cautious with money, is when I spend on my debit card any pennies under the pound in my account gets moved to a savings account; it does start to build up.

As I've historic debts I've set up a current account with a completely separate bank just to pay them from, perhaps that might work for you?

Tryingtomanage

Thank you Charlotte

Hi Moving Forwards, thank you, I do actually have a Monzo account which I don't actually use, plus I can set up little pots within that account which will be perfect. I totally forgot until you mentioned it. :j

beanielou

Happy shiny new diary

Buffythedebtslayer

Tryingto Manage! Preach it!

This is my third time in debt! and like you I never budget and just end up buying things.... I think I am a bit too all or nothing.

Good luck with it all, this a great place XXX

Munchin

Hi

Good luck with your debt free journey *subscribes*