Ann finally getting into gear at 47!

AnnMiddleton

Hey everyone,

Just wanted to track my debt reduction here and hopefully start saving for a deposit for a flat. I have posted my SOA on the main DFW thread and will keep revisiting it.

I am hopeless with money and haven't really thought about it under recently, was a definite ostrich and it was made worse by nearly all my friends being really cash savvy and already paid off mortgages, buying holiday homes etc - I felt like a teenager in comparison. I did have a good time though, some great memories although that particular party is totally over.

I want to tackle my debts, build up an emergency fund and save for a deposit with a view to a possible flat purchase for a move in of January 2021 so I have a bit of time to get things sorted.

To date my debts are:
Halifax: £289
Tesco: £1753
Post Office: £3632
Total debt: £5674

Total in Help to Buy ISA: £6400 (I contribute £200 a month)

I have also started a monthly emergency fund of £150 - I have only made one deposit so far but look forward to build it up.

My weaknesses with money are:

• Socialising with friends when I go back to London for work (I moved away earlier this year) - it can easily be £100 on a Wednesday night with only a severe hangover and a 3lb weight gain to show for it.
• Travel - I have a trip planned for Xmas and New Year, it is pretty low-key and where I have moved to is really nice so I can explore locally instead of jetting off.
• Expensive make-up: sucker for Chanel packaging, I know, I am sad!
• Rewarding myself with food (takeaways) and alcohol after a difficult work day.
• Books from Amazon: normally second-hand obscure cook books although the amount adds up.
• Buying lunch at work everyday, also sometimes breakfast - about £10 a day.
• I previously paid for everything on my card before, never used cash - even if I was just buying a bottle of milk - so easy to lose track.

I saw the light recently whilst watching quite an old-skool programme via Amazon Prime called 'Til Debt Do Us Part' , you can watch it free with a prime subscription. It is quite a dated programme with a lady who dishes out no-nonsense advice to people who have gotten themselves into pretty bad debt. It is really interesting to watch how they adapt and turn everything around, gives you hope. There are 7 series so I binged on them all, they are based in Canada so it is different jargon but has the basics of good money management. My biggest takeaway was now using cash, I have cut up all my credit cards, have my debit card which I leave at home and a Monzo card which has a £50 float on it for business expenses which get reimbursed twice a month.

Tomorrow is pay-day so i can start paying off the debts - thanks to all of the great advice on here I will start with the lowest ones first to get them totally sorted. My instinct was to go with the PO big debt first although it would mean hanging onto all 3 debt for much longer.

Feels good to start making the first steps in getting things sorted and this forum is a god-send with some fab people, have enjoyed getting tips and advice.

Waffle over! :j

Misslayed

Happy shiny new diary! Best of luck

AnnMiddleton

Misslayed wrote: »

Happy shiny new diary! Best of luck

Thank you Misslayed :T

Just pulling together a spreadsheet which I can use going forward, making sure I capture everything.

AnnMiddleton

Pay day giveth, debts taketh away.

Have paid off one card, put a chunk on another and will chip away at the final debt.

Debts are now:
Halifax: cleared :j
Tesco: £999
PO: £3542
Total: £4541

Emergency fund: now £300 :T

Having slept on it, I am also going to join a gym - it will give me something to do after work instead of heading straight home (wine alert) plus I can hopefully make a few new friends, I have only been in my new town for about 5 months and I don't really know anyone so a good way to get out of the house, get fit (I am like a flabby Jabba the Hut at the mo) and be around people.

This week's focus is to eat everything I have in the cupboards, fridge and freezer. and just buy in fresh stuff. I also need to withdraw my monthly £200 allowance to live off and then hide my debit card.

Feeling cautiously optimistic.

Must read all of the new diary entries to also get inspiration!

Have a fab Friday fellow DFW'ers :rotfl:

UncannyScot

Hello and welcome :hello:

Nice to see that you are getting stuck into things here.

Good luck on your journey and if you need any advice or help with anything just post up and someone will pop in

AnnMiddleton

UncannyScot wrote: »

Hello and welcome :hello:

Nice to see that you are getting stuck into things here.

Good luck on your journey and if you need any advice or help with anything just post up and someone will pop in

Thank you so much, really appreciate your kind words its the start of a long journey but one which I am glad I am starting. :j

foxgloves

LOl, AnnM - I've just typed today's post on my own diary, the sentiments of which were then echoed so perfectly by your comment "Pay-day giveth & debt taketh away". Your spending weaknesses echo my own back in the Spendy Decades. I was in debt from the age of 19 (the joys of moving from a small country town to a big city as a student...<sighs>.....) & didn't tackle it until my mid-40s & by then I'd acquired the very lovely but equally endebted Mr F along the way. We became debt-free in 2011, when I was 46. We've never looked back. It is SO empowering getting one's head out of the sand & starting to live within one's means. It's liberating. I actually decided to start my diary to prove that it totally IS possible to change even long engrained negative spendy behaviours. So I'm dropping by to wish you lots of luck on your debt-free mission. Chin up! Close purse! And onwards!
F

beanielou

Happy shiny new diary
One debt down already~~go you.

AnnMiddleton

Hey everybody,

Lovely to see new faces and encouragement in my diary - good to see that it is not just me who is facing their financial struggles hope everyone is having a good weekend, it has suddenly turned rather soggy which is good for the plants in the garden, although not too good for planned weekend activities of going out for a stroll in the countryside.

I have joined a gym and go to sign up tomorrow and see what it is all about, it is near my work so I can go before or after work - I actually walk past it so will give me impetus to pop in, plus it has a swimming pool and steam room which is really good for my anxiety. I am oddly really nervous going, I am so out of shape and feel like the fat girl at school gym class, hopefully it wont be that bad in reality.

Also I need to get some moisturiser and serum - normally I use No.7 stuff which can be quite pricey but I find is good quality and nearly always on offer although I thought I would try some Superdrug stuff instead, my friend who is quite snobby ref skincare swears by the Optimum range there so I will give it a go, it is half price at the moment so I can trial it out to see what it is like, will also save me some pennies.

I withdrew out my £200 to live off for this month, it is in a tupperware in my kitchen and I am very mindful there are still a few days left of July before August kicks off so I don't want to be too spendy! It is also my Dad's birthday this month and I normally send him a bottle of wine - will do a hunt for something which is nice but good value for money.