Becoming debt free and saving for the future.

FootyFanDan

I am sorry to read you had such a awful experience, sometimes i find whenever i struggle (as i have recently unfortunately) i like to run also i like to read or literally go to the a place i used to go as a child and i just put on my music and try relax. It seems that art gives you the release you need so try keep at it..love the art btw

Money wise you seem to be pretty clued up about your goals and how you will achieve them, whilst the main goal is debt freedom, holidays are there to provide you an experience so go live that experience

inigma

I stared at a spreadsheet every day for 18 months till we cleared our debt, packed lunch, walking to the next station day and night to save on tfl zone fares, meal plans. The best saving was changing mobile, internet, electric and TV (my wife refused to get rid of sky but agreed to now TV i wouldfl have just sat with freeview but she put her foot down). I still tick back all direct debits and audit spending once a week, always looking for new joiner promotions. Good luck with your journey, just think you won't be paying interest to the banks anymore once this is done.

enthusiasticsaver

You seem to have made a good start. The beginning of a debt repayment and getting on top of finances journey seems slow to most as the majority just want to get on with it. I would say though that this is a lifelong journey. Not necessarily always being frugal but looking for the best deals and no unnecessary wasteful spending. That doesn't mean you shouldn't ever spend but being more selective. I am not bothered about spending on clothes, make up, beauty treatments etc (even when I was younger but I do like to spend on theatre, days out, travel and experiences. All done within budget though and I save up for it.

So my advice would be save alongside repaying debt, especially if the debt is 0%. Good to see you have an emergency fund and an app to track spending. How about posting an soa so we can advise further?

DebtFreeMonkey

Money wise you seem to be pretty clued up about your goals and how you will achieve them, whilst the main goal is debt freedom, holidays are there to provide you an experience so go live that experience

You're right and I will. I just don't want to go mad because I'm trying to develop healthier habits towards money, y'know? but thank you for your consistent support. Always appreciated.

stared at a spreadsheet every day for 18 months till we cleared our debt, packed lunch, walking to the next station day and night to save on tfl zone fares, meal plans. The best saving was changing mobile, internet, electric and TV (my wife refused to get rid of sky but agreed to now TV i wouldfl have just sat with freeview but she put her foot down). I still tick back all direct debits and audit spending once a week, always looking for new joiner promotions. Good luck with your journey, just think you won't be paying interest to the banks anymore once this is done.

Yes, you're right. I just need to think of the end goals and endure all that I need to in the meantime. Glad to see it's worked for you.

I do take packed lunches to work with me. We have a microwave so I can heat stuff up, too. I cook fresh, daily and eat very healthily but sometimes superfluously. Reigning that in by not buying too much fancy stuff and using the pantry and freezer supplies more.

Thank you for the encouragement/motivation.

You seem to have made a good start. The beginning of a debt repayment and getting on top of finances journey seems slow to most as the majority just want to get on with it. I would say though that this is a lifelong journey. Not necessarily always being frugal but looking for the best deals and no unnecessary wasteful spending.

You're so very right. It does feel slow but I'm not too far off my first goal. I think when that happens, I'll feel like I've achieved something and then I can work towards the next goal feeling better and so on.

Yes, these are habits I want to develop for the rest of my life so that's why I think I'm being so strict on myself when I fail at them. That's how I got into this mess in the first place!

Thank you for your encouragement.

Bubblesmum

Hello, thank you for popping into my thread and I have enjoyed reading your new diary, good luck and have subscribed....

A few thoughts....

1. Love apps - deducting what you buy and working in cash sounds good
2. Spreadsheet girl - love them. Currently I have a spreadsheet listing every single item on our credit card. This for me is a real reality check and it means I chip away at it all the time and often means that instead of going out for a meal/ buying a take away, we use the money instead to pay off the equivalent debt from our budgeted weekly allowance . Or that book, or that item of clothing as I have to focus on getting rid of that particular category of item on the credit card.
3. It is about balancing getting out of debt and having fun, hence having a fun budget most important, it as you comment yourself choosing wisely and reflecting as you go, whether if you were asked to do the same thing next week/ month would you go or how could you do it differently ( packed lunch) or no regrets I will do this on the occasional basis.

I got into debt very badly in my early 30’s when my Mum died, I was in a good job, and I just kept saying what the heck if I die tomorrow my assets ( flat) will pay the debt off. It wasn’t a good place to be.

So I really admire your determination and also focusing on your drawing ( I focus on craft) using up all those supplies that you have, which is also a good debt busting feeling.

Look forward to reading and cheer leading you on.

DebtFreeMonkey

Bubblesmum wrote: »

Hello, thank you for popping into my thread and I have enjoyed reading your new diary, good luck and have subscribed....

A few thoughts....

1. Love apps - deducting what you buy and working in cash sounds good
2. Spreadsheet girl - love them. Currently I have a spreadsheet listing every single item on our credit card. This for me is a real reality check and it means I chip away at it all the time and often means that instead of going out for a meal/ buying a take away, we use the money instead to pay off the equivalent debt from our budgeted weekly allowance . Or that book, or that item of clothing as I have to focus on getting rid of that particular category of item on the credit card.
3. It is about balancing getting out of debt and having fun, hence having a fun budget most important, it as you comment yourself choosing wisely and reflecting as you go, whether if you were asked to do the same thing next week/ month would you go or how could you do it differently ( packed lunch) or no regrets I will do this on the occasional basis.

I got into debt very badly in my early 30’s when my Mum died, I was in a good job, and I just kept saying what the heck if I die tomorrow my assets ( flat) will pay the debt off. It wasn’t a good place to be.

So I really admire your determination and also focusing on your drawing ( I focus on craft) using up all those supplies that you have, which is also a good debt busting feeling.

Look forward to reading and cheer leading you on.

Thank you. I do use apps to track my spending. Sometimes it's just enough to remind me not to buy the thing! I also have a spreadsheet of my pantry to try and use that up instead of buying more stuff.

Your tips and encouragement are very welcome and super motivational. Thank you

DebtFreeMonkey

Had quite a lazy day today, hence me spending much time reading diaries/comments and responding multiple times.

I only spent £1.98 today but that was from my shopping budget and I would have had to have got the stuff tomorrow but spotted it discounted at HB today. I pretty much count this as a NSD because it came from my food allowance which I consider already spent, and therefore get a pleasant surprise if any money is left by Friday.

Speaking of, I listened to a great podcast that offered a slightly different view of 'budgeting'. Instead of calling of thinking of it as a reduction, a cutting back, the chap offered the perspective of thinking of what you CAN buy with a certain amount of money so it doesn't seem restrictive. I don't know know. I probably butchered what he said but it was a nice little tweak that I think will benefit me. I'm not cutting back, I'm just thinking about how I spend my money and trying to get the maximum out of each penny...

I also have started (rather late) getting rid of stuff for August. I saw a post on a diary where someone was getting rid of 1 thing on the 1st, 2 on the 2nd and so on so I've made efforts to catch up. 10 things have gone today and 5 more will be joining the pile.

So, here's a little summary:
Shopping allowance: £16.17/£30 left til Friday. Like I said, I spent too much Saturday.
Things sold/thrown out/given away: 10
Food stores used?: Yes, all buy 1 thing came from what I already had. I only eat two (rather large) meals a day and a snack so it's pretty easy getting through things by making a bit meal. Today's food was:
Meal 1: a humongous smoothie bowl
Snack: Mango and a Nakd bar
Meal 2: Kidney bean and pea stew with a thick wedge of bread topped with tahini and nutritional yeast.
Exercise: Not nearly as much as usual. I cut back a bit today. I've been losing weight, unfortunately, because I'm super active and just a touch stressed for various reasons.. I walk 10,000 steps a day, minimum and when I work, cycle 10 miles a day. Not only that, I'm getting back into the gym. I really need to make my meals bigger, huh? :rotfl:

As an aside, I did also find all the books I need to read for the MA I'm starting in September! Best get a move on with reading those. I've gone for the £10.906 funding amount to pay for the course, travel and have a little over for any extra expenses/to sit in my savings gathering some interest. If any of it is left at the end, I'm going to whack it onto an over payment for one of my loans or something.

Well, that's enough of that...

DebtFreeMonkey

A quick update before I hit the hay after a busy shift at work (the cycle home was lovely and didn't feel anywhere near 5 miles).

So, today was a NSD! Hurrah! Meaning I still have £16.17/£30 for the week and I'm thinking I may be able to get away with not buying anything else.

Today's food was:
Meal 1: Another huge smoothie bowl.
Snack: Some left overs from yesterday and some of meal 2 which was huge.
Meal 2: A lentil stew with frozen sweet potato, frozen sweet corn, frozen peas and frozen spinach. Was super yum and used the last of my bread to go with it.
Bonus was that some of higher ups brought treats in for the staff and being the only vegan and quite healthy, to boot, they got me some fruit which I brought home and can use during the week! Not only am I using food stores but I've actually gained food in a day which helps cutting back costs a little and was extremely sweet/considerate.
Which leads me to my next daily goal..
Food stores used?: Yes. Had everything already that I ate.

I've also managed to add 5 more things to get rid of so I'm on track...should be interesting the further we get into the month.

I've also just registered at the university for the course I'm starting so things are really getting going, now. From September, I'm going to be so busy. Too busy to waste money, I'm assuming!

But anyways. All in all, today has been pretty good aside from an upsetting morning. To cope, I went back to books like usual and was reminded that how other people act is not down to me or my problem and I should focus on positivity.

And that's it for today. We'll see what tomorrow brings...

FootyFanDan

Wooooooo Awesome news on the NSD you are doing so well . Loving how you are tracking the eating it will keep you knowing are eating healthy and also keeps the spends in check.

Good luck on the uni stuff, quite jealous you get to cycle to work, back in my younger days haha i loved to cycle my bike was like my best friend...wow how pathetic did that sound lol.

Keep up the amazing work and the benefits will soon come! Cheering you on as always

DebtFreeMonkey

Update after yesterday...

Went to visit my mum and she got me some food to take home (do mums ever not do that? and it wasn't necessary but she got a couple of my favourite things) and gave me some money since my headphones broke and I had some other bits to get (though I didn't ask for the money). So...I didn't spend much...however I did buy some potatoes because I'm a potato fiend and after 4 days, I could go now longer. Haha.

Food/Grocery allowance: £14:67

Food stores used?: Bonus, aside from the potatoes, I did just use what I already had so still working through everything I already have and my pantry list is getting things crossed off!

Meal 1: Smoothie bowl
Snack: Fruit
Meal 2: Wedges and lentil stew

Get rid of/donations: 21/21

It's going to be hard the further into the month we go but it's fun minimalising my life.

Sorted out a payment plan with the uni for my MA, too so feeling as prepared as I'm going to get for the course whilst being slightly scared, too. The things we do to progress, eh! All so that one day, I can become a lecturer...

A bit of drama in the morning where I had to go back because a company tried to charge an old card for something I didn't want. Luckily, I'd had a new card in the meantime and cancelled the old but it was ridiculous. £43, almost, on something that I never requested they send me!

Today and tomorrow should be no spend days and Friday is my weekly 'reset' day.