You’ve got to start somewhere!

Ladybuganddaisy

I’ve decided to start this diary today because it’s payday tomorrow and it seems a good time to start a new budget!

I’m a single mum to a gorgeous 3 year old, I work 3 days a week (soon to be 4 days) and do extra random shifts in a restaurant. I’ve recently moved in with my parents thus massively reducing my outgoings! It seems like the perfect opportunity to get my debt paid back, some savings in the bank and get all my ducks in a row financially!

I have been paying ridiculously high bills and it’s got me in a muddle with money but now I’m staying with my parents I can post a SOA with not much on it (hopefully) The temptation now I have some money coming in and no mortgage or bills to pay to spend on things I don’t need is high. I want to make sure I use this times wisely.

I’m not entirely sure how much I actually owe :eek: but will be phoning tomorrow or Thursday to find out. My plan it to attack them one at a time, smallest first which I have picked up from this forum is called snowballing :j

I’ll be trying all the usual things in a bid to save a bit of money to send to the debts! Meal planning, cheap days out and generally not buying stuff:D. Selling a few bits too!

My weak spots for spending money have been toys, days out with my dd and overspending on special occasions like Christmas and Easter. I’ve been thinking a lot about why this has been the case in recent years. I think it’s partly because I’m trying to overcompensate for being a single parent. It’s like I’m trying to prove that actually she can have every opportunity and nice experience that any other child should have. It’s also because my focus has been solely her that my money just tends to drift that way! I don’t want her to turn out to be a spoilt little brat that doesn’t appreciate anything, another reason to do this. I want her to learn that happiness does not come from material things and that she can’t always have what she wants. I’m learning to say no!

It seems so strange sending this out into the World Wide Web! Here goes!!

FootyFanDan

Hey,

Just wanted to say good luck on your journey. There are so many people here with superb tips and advice that can help you along the way

Following and cheering you on! You can do this.

MovingForwards

Well done for starting your diary!

I always recommend opening up an account with a completely separate bank to start squirrelling money away. I also highly recommend learning to save by doing the 1p a day challenge, or if money allows it the 52 week challenge.

Once you have all your bills down on paper/ or an excel/word document, you can then work out your budget. There is a statement of affairs link around here which you can use; either for private use or to share if you want a helping hand.

The diary is also good to keep track of what you have done and what needs to be done. I've found it good to be able to read back and see if I've missed anything.

Good luck, it gets easier

Ladybuganddaisy

Thank you footyfandan and movingforwards. I appreciate the advice, feeling really motivated so fingers crossed I can start making some headway ��

Ladybuganddaisy

I’ve been having a look at (my beautifully organised and new finance file :j) and have worked out the figures for my bills. I’m really lucky that I don’t have any household bills to pay at the moment :j

Car tax - £12.68
Car insurance - £35.03
Mobile phone - £34.00
Storage - £96.00
Contact lenses - £32.00

Car insurance is up for renewal in August so Ill look into getting a better deal then.

I can’t do anything about the car tax payment or the mobile phone. Storage is the cheapest I could find and local!

Contact lenses is on a subscription however I have an eye test coming up. Once I’ve got the new prescription I’m going to order them online. It seems a lot cheaper at about £17.00 so that will be a reduced payment by next week :beer:

Ladybuganddaisy

Day 1
Pay day today :beer:

I’ve spent £7.00 on some clothes I bought for dd from selling pages on fb which I picked up on my way home from work.

Also £4.50 on a few grocery bits! So total for the day £11.50 total.

I’ve set myself a budget of £340 for my months spends. This is to include everything other than the bills that go directly out of my bank account which I mentioned in a post earlier. So that’s petrol, food, entertainment etc. I worked this out to make my total outgoings £550 leaving me plenty for debt repayments :j

Wish me luck for day two!

beanielou

Happy shiny new diary

Hope day 2 goes well.

Ladybuganddaisy

I forgot to say I got paid £1410.31 and money back from some insurance that’s not needed which was £9.37 into my bank account today!

I’ve had a good day at work, ridiculously busy, but really productive. My friend came around afterwards and instead of takeaway like we tend to do, we ate what was in the house. Small steps hehe! It was a really good laugh and goes to prove you don’t have to spend money to have fun

girlatplay

Happy new diary

I brought Little Miss Gap up on my own. She doesn't remember most of the stuff I bought for her (which wasn't much anyway) but she remembers the picnics in the park, putting wellies on and jumping in the sea, having friends round to play, going to the library after school (when she was a wee bit older). It's not the material things, it's the memories. She's 18 now.

Good luck with your journey.

Gap x

jjhdee

Congratulations for starting this journey! Wishing you a successful one. You inspire us, so keep going for you and your kids!

Ladybuganddaisy

I love this post little miss gap!

I’m definitely a ‘planner’ and I’ve already written a list of things I’d like to do with my dd this summer. I really enjoy spending time (and previously money) on days out with her but they need to be less expensive this year! I’ve got on it the beach, crabbing, picnic, bike ride, kite flying, paddling pool and I want to plant a little garden with her
I’m so looking forward to these things and you are 100% right that it’s the time you spend, not how much it cost. Thank you