TravelGirl84's DFD

TravelGirl84

Hi All!

So my last update for 2019:

- Had to buy a new tyre for the car this week. The tyre that got repaired a couple of months ago went completely flat so I've had it replaced, so I'm £66.16 down. I had nearly £350 saved for my car service and anything else that might need doing so I had the cash Apparently I also need another tyre as it's getting low but I will get that when I have my service done on Monday at my usual place where I get discount for being a member. I'm pretty sure I need the tracking done as well which I always thought was a load of rubbish, but I can feel my car pulling, unless that was the tyre. Those two things plus I need the aircon checking, the oil checking for a potential leak (unless my car just eats oil) and the full service, might come to the remainder I have left saved and I might have to dip in to my emergency fund. I'll be gutted if I have to but that's what it's there for and hopefully there will be enough in there too. I'm expecting it to be at least £350.
- Was due a hygienist appointment on Friday but have moved it to the end of Feb. If I need the money for the car then I will have an extra £46 there.
- £2 coin saved. Would have had 2 but had to spend one which I wasn't happy about, haha.
- Have started signing up to Mystery Shopping and Surveys - need to sign up to some more
- Anything left in my main bank at the end of the month I’m thinking of transferring to my emergency fund. I allocate a £20 buffer in there each month so if it’s not used / all used I could transfer that
- Still doing the Skint Dad 1p Challenge
- First food shop of this payday was £35, including de-icer and some pots to freeze food in. I got quite a lot so I'm quite pleased.
- I don't go back to work until Monday so minimal petrol spends and no work canteen spends
- I returned some items on Amazon but they are going into Amazon credit because I closed the bank account that was on there. Not sure if I can get the cash back in the bank or not. If not I still need to buy a present and I can keep the rest in there for future purchases.
- I've signed up for the gym. I got the 1st month free so only had to pay the joining fee. I hadn’t calculated for the joining fee so have saved £17 instead of £32 from what I had budgeted. I will move the £17 to my Emergency Fund. I know joining the gym might sound counter-productive, but I've wanted to go back for a while and I'm really looking forward to it.
- I got some clothes vouchers for Christmas so looking forward to treating myself

2019 Roundup:

So since the start of my diary at the end of July I have paid off £2718.80 - this is made up of £1663.30 in loan minimum payments and £1055.50 in credit card payments. It would have been a little more but I had to pay transfer fees so I've taken that off. In terms of the credit card I would have liked to have paid off more but I've got to be pleased with what I have done. This is only in the last 5 months aswell, I've probably paid double across the whole year!
Since starting this diary and everything clicking in my head, I don't think I've used credit once (except maybe the holiday to Corfu, can't remember when I booked it), but now the idea of using my credit card actually makes me feel sick. My mindset has changed so much, I actually can't believe it. I've even got some small savings and sinking funds/pots! I will be taking this mindset forward in to the new decade!

Well done to everyone for smashing your debts this year!

Happy New Year All! :beer:

FootyFanDan

Hey

Well done on what you have achieved this year that is a staggering amount to have paid off in such a short space of time. This seems like a total transformation since the start of you diary, and despite the car stuff needing to be done it seems like if all goes well this will be paid for with no additional debt

I like that you are getting involved in challenges too this is something i need to think about doing just for extra motivation.

The gym is a good idea, if it is something you feel will benefit you. I have just started looking into gym finally, my knee isn't fixed by a long shot but i have to start doing fitness training again haha i am going insane!

Happy New Year to You and here is to smashing more targets in 2020.

TravelGirl84

FootyFanDan wrote: »

Hey

Well done on what you have achieved this year that is a staggering amount to have paid off in such a short space of time. This seems like a total transformation since the start of you diary, and despite the car stuff needing to be done it seems like if all goes well this will be paid for with no additional debt

I like that you are getting involved in challenges too this is something i need to think about doing just for extra motivation.

The gym is a good idea, if it is something you feel will benefit you. I have just started looking into gym finally, my knee isn't fixed by a long shot but i have to start doing fitness training again haha i am going insane!

Happy New Year to You and here is to smashing more targets in 2020.

Thanks Dan! :beer:

There has been a massive transformation and I'm really proud of myself!

Here's to smashing more debt in 2020!

TravelGirl84

Happy New Year Diary and All us MSE'ers! :beer:

It's time for my 2020 goals finance wise, which overall is of course to improve my financial situation:

1. Build a £1000 emergency fund
2. Pay off my credit card - £4701.01
3. Build pots so I have money put aside. My pots at the moment are for a holiday for my Mums 60th/their Ruby wedding, birthdays and anniversaries, christmas (to be made), the skint dad 1p challenge/penny challenge, car fund, ground rent (just paid this years so want to save for next years), clothes and home improvements, hair dentist and opticians, and perhaps a pot to try and save for yearly bills instead of staying on direct debits, but I'm not sure I'll manage that one this year.
4. No credit usage / overdraft usage
5. Side hustle - surveys, mystery shopping, selling stuff from around the house, and I'll look in to other bits and pieces.
6. Keep using cashback sites and build loyalty cards
7. Save 1ps, 2ps, 5ps and £2 coins
8. Keep a check on my credit score
9. Try and get grocery shop down to £150 per month - not sure if this is doable

I have ordered a budget book which I'm really looking forward to getting. I love a spreadsheet and I will still use mine to manage the money I have on a monthly basis, but I'm looking forward to writing everything down on paper and being able to look back on payments, savings, side hustles and also to track my spending again.

Up until today I've felt super on it to get my debts down asap, but today I'm feeling stressed, I wanted to be able to be 100% positive today but instead I'm feeling a bit panicky.

As of today my debt stands at £28994.19, which is including around £2000 interest which is pre-loaded on my online banking (really annoying). Hopefully in the long run I can save enough to pay the loan off early and reduce the interest. I honestly never thought I would be in so much debt that wasn't a mortgage, and I'm feeling stressed and panicky, both for the total and the monthly figure I pay. What if I don't have enough savings and I need the money for an emergency before I am able to build it? I can't live the life I want to when I'm paying out around £380 in minimum payments every month. I know that's not a lot to some people, I know I'm not on the breadline unable to meet these payments and I know I am privileged in many ways, but I seem to go through cycles of storming debt, and then panic. I'm sure this is probably normal, but not one person I know is aware of the amount of debt I'm in, and I cannot tell anyone. On the one hand I appease myself by reminding myself what the debt is for - my car, bank loan and solicitors fees for my home deposit, two very large holidays and probably some odd bits here and there. So whilst some may not be seen as 100% consumer debt, it's still debt in the form of a credit card and loan, so I'm sure people could guess a rough figure. On the other hand I'm just basically ashamed to tell anyone. Before Christmas a couple of the girls at work were talking about debt and one was saying she would be stressed if she had £2k on their card, and I totally get that, but I just thought to myself if only they knew :eek:

I got home today and started thinking about how I could re-arrange my debt so my monthly loan payments are a little lighter which means I could smash my credit card quicker, but I actually think my days of re-arranging debt to try and help and/or make myself feel better are actually over. I'm at that point where this is no longer viable. If I knew I could pay all my debts off by the end of the year by basically hibernating (bar a couple of plans that are already planned) I would totally do it. but my monthly payments would basically be the same as my monthly salary.

I could actually cry and I'm so disappointed in myself for feeling that on the first day of a new year and new decade. I will still smash my debts this year, but I need to be conscious of when it's getting too much and step away from it for a couple of days to let my mind rest.

So, this was a long post, but I really needed to get it out. Thanks if you have read this far! I need to keep these quotes in mind and I will remain positive. It just might be harder some days than others and that's ok!

"Make 2020 the year you go all in. You'll only regret it if you don't". (Unsure of Author)
"Live like no one else, so you can live like no one else" (Dave Ramsey)

EDIT: I was just watching a program (fictional) that I'm kind of binge watching, and one of the characters just said:
"If you plan when things are good, you're covered when things are bad".
And that quote I have written down as a reminder to keep pushing on paying off debt and building savings, and that once that is done, I can lead more of a life I want to lead and I won't have to compromise so much!

FootyFanDan

TravelGirl84 wrote: »

Happy New Year Diary and All us MSE'ers! :beer:

It's time for my 2020 goals finance wise, which overall is of course to improve my financial situation:

1. Build a £1000 emergency fund
2. Pay off my credit card - £4701.01
3. Build pots so I have money put aside. My pots at the moment are for a holiday for my Mums 60th/their Ruby wedding, birthdays and anniversaries, christmas (to be made), the skint dad 1p challenge/penny challenge, car fund, ground rent (just paid this years so want to save for next years), clothes and home improvements, hair dentist and opticians, and perhaps a pot to try and save for yearly bills instead of staying on direct debits, but I'm not sure I'll manage that one this year.
4. No credit usage / overdraft usage
5. Side hustle - surveys, mystery shopping, selling stuff from around the house, and I'll look in to other bits and pieces.
6. Keep using cashback sites and build loyalty cards
7. Save 1ps, 2ps, 5ps and £2 coins
8. Keep a check on my credit score
9. Try and get grocery shop down to £150 per month - not sure if this is doable

I have ordered a budget book which I'm really looking forward to getting. I love a spreadsheet and I will still use mine to manage the money I have on a monthly basis, but I'm looking forward to writing everything down on paper and being able to look back on payments, savings, side hustles and also to track my spending again.

Up until today I've felt super on it to get my debts down asap, but today I'm feeling stressed, I wanted to be able to be 100% positive today but instead I'm feeling a bit panicky.

As of today my debt stands at £28994.19, which is including around £2000 interest which is pre-loaded on my online banking (really annoying). Hopefully in the long run I can save enough to pay the loan off early and reduce the interest. I honestly never thought I would be in so much debt that wasn't a mortgage, and I'm feeling stressed and panicky, both for the total and the monthly figure I pay. What if I don't have enough savings and I need the money for an emergency before I am able to build it? I can't live the life I want to when I'm paying out around £380 in minimum payments every month. I know that's not a lot to some people, I know I'm not on the breadline unable to meet these payments and I know I am privileged in many ways, but I seem to go through cycles of storming debt, and then panic. I'm sure this is probably normal, but not one person I know is aware of the amount of debt I'm in, and I cannot tell anyone. On the one hand I appease myself by reminding myself what the debt is for - my car, bank loan and solicitors fees for my home deposit, two very large holidays and probably some odd bits here and there. So whilst some may not be seen as 100% consumer debt, it's still debt in the form of a credit card and loan, so I'm sure people could guess a rough figure. On the other hand I'm just basically ashamed to tell anyone. Before Christmas a couple of the girls at work were talking about debt and one was saying she would be stressed if she had £2k on their card, and I totally get that, but I just thought to myself if only they knew :eek:

I got home today and started thinking about how I could re-arrange my debt so my monthly loan payments are a little lighter which means I could smash my credit card quicker, but I actually think my days of re-arranging debt to try and help and/or make myself feel better are actually over. I'm at that point where this is no longer viable. If I knew I could pay all my debts off by the end of the year by basically hibernating (bar a couple of plans that are already planned) I would totally do it. but my monthly payments would basically be the same as my monthly salary.

I could actually cry and I'm so disappointed in myself for feeling that on the first day of a new year and new decade. I will still smash my debts this year, but I need to be conscious of when it's getting too much and step away from it for a couple of days to let my mind rest.

So, this was a long post, but I really needed to get it out. Thanks if you have read this far! I need to keep these quotes in mind and I will remain positive. It just might be harder some days than others and that's ok!

"Make 2020 the year you go all in. You'll only regret it if you don't". (Unsure of Author)
"Live like no one else, so you can live like no one else" (Dave Ramsey)

I think sometimes in humans its ingrained in us to dwell on the negative rather than focus on the positives and whilst I think its key to seek out where you can improve your situation and pay more then do so. However I also think its key to not be too hard on yourself if you are doing everything within your capabilities to pay down the debt quick.

You didn't get into debt over night and you won't fix it overnight. You are a better place both mentally and financially than when you began your diary so focus on that rather than not been able to pay of huge chunks at a time.

I have re-worked my budget a few times due to wanting to over-commit an extra £50-£100 and get it paid off quicker, but the reality is that would possibly take a few months of my DF date so it gives me a little perspective. You have deffo got this do not feel disappointed in yourself you have done great so far.

TravelGirl84

FootyFanDan wrote: »

I think sometimes in humans its ingrained in us to dwell on the negative rather than focus on the positives and whilst I think its key to seek out where you can improve your situation and pay more then do so. However I also think its key to not be too hard on yourself if you are doing everything within your capabilities to pay down the debt quick.

You didn't get into debt over night and you won't fix it overnight. You are a better place both mentally and financially than when you began your diary so focus on that rather than not been able to pay of huge chunks at a time.

I have re-worked my budget a few times due to wanting to over-commit an extra £50-£100 and get it paid off quicker, but the reality is that would possibly take a few months of my DF date so it gives me a little perspective. You have deffo got this do not feel disappointed in yourself you have done great so far.

Thanks Dan.

You make great points and this was really helpful.

I have grown a huge impatience with wanting to pay off debt and it's frustrating to not be able to get it done as quickly as I'd like. I heard us millennials suffer from an 'I want everything now' syndrome, and I can totally relate to that at the moment, financially and otherwise.

Like you say I am in a much better place mentally and financially compared to this time last year and I need to keep this in mind. I do try and be as positive as possible but us humans are definitely wired towards the negative, I actually read something about that recently.

Tomorrow is a new day, and hopefully a clearer mind!

Thanks for the support and encouragement as always! :beer:

FootyFanDan

I get this 100% and can fully get why you feel like this, I look at my progress chart and can see just how positive my finances could look when I am rid of the debt. Whilst I appreciate it isn't a huge amount, its debt that as been in my life way too long and to be honest it hasn't ever really bothered me but knowing now what I want my future to be means I have no choice but to tackle it.

What I have to get in my head is that is a year or so down the line and I need to focus on the here and now, if I do not focus then it will not go as planned.

The 'want everything now' syndrome is probably why a lot of us get into this position but I never really learned budgets growing up. I had an amazing childhood but we certainly were not well off, however we always had bikes, clothes and other things. Its only when you grow up a little you realise the sacrifice some parents go through including endless credit just to survive.

The encouragement will always be there and no doubt others have felt the way you do right now. Tackle each day as It comes.

OnlyPariah

Happy New Year TravelGirl.

II totally get the need to get the debt rid off quickly. Like you said though, you've made really good progress and are in a better position now than this time last year. Hold onto that thought.

TravelGirl84

Ok so feeling more positive today and actually a little pumped, especially since sorting out the gym. I have my induction tomorrow and I might then stay and do a work out, which I'm really looking forward to. Never thought I'd be someone who wants to go to the gym! I want to do a 10k this year. Last year I did 5k without stopping straight off the bat, and whilst I was slow, if I can do 5k without stopping I can go for 10k, even if I'm really slow and/or stop partway through.

I wrote in a previous post about my service charges for my building. I have now written to the maintenance company for our estate, as have others, and it looks like they are reducing the bill because they have charged twice for a couple of items. I hadn't noticed until someone pointed it out, but this is the second or third time in 2.5 years they have got bills wrong, which isn't very good. I would love to be able to pay these fees up front so I don't go on direct debit, but for now it's not possible. Maybe next year I will be able to.

Mystery Shopping
Grassroots - turns out I had a sign up Email at the end of December but I didn't see it because it was in a different section of my Emails, but I'm now all signed up and ready to go.
ESA Retail - Signed up. They seemed to require a lot more info than the rest.
React - test taken, waiting to see if I have been approved.

Food Inventory
I have done an inventory today of my cupboards, fridge and freezer, and it looks like I have enough dinners for at least 16 or 17 days. Work lunches are the thing I find most difficult, so I need to start thinking about that a bit more.

1p challenge is all up to date. I created a habit tracker for myself for this year and this is one of the things on it. I have added the amount for each day on the tracker so I know where I am up to and if I miss a couple of days I know how much I need to save to catch up.

I was watching a program today about cheap holidays. Holidays are a massive reason why I get so down about debt, but also what I could use to drive me to pay off debt because I can have a lot more once it's paid off!

TravelGirl84

FootyFanDan wrote: »

I get this 100% and can fully get why you feel like this, I look at my progress chart and can see just how positive my finances could look when I am rid of the debt. Whilst I appreciate it isn't a huge amount, its debt that as been in my life way too long and to be honest it hasn't ever really bothered me but knowing now what I want my future to be means I have no choice but to tackle it.

What I have to get in my head is that is a year or so down the line and I need to focus on the here and now, if I do not focus then it will not go as planned.

The 'want everything now' syndrome is probably why a lot of us get into this position but I never really learned budgets growing up. I had an amazing childhood but we certainly were not well off, however we always had bikes, clothes and other things. Its only when you grow up a little you realise the sacrifice some parents go through including endless credit just to survive.

The encouragement will always be there and no doubt others have felt the way you do right now. Tackle each day as It comes.

I don't think it matters whether you're £5k in debt or £35k in debt. It's debt at the end of the day and can be equally as stressful to that person.

I never learned budgets growing up either. Not sure if it's something they teach now at schools but I definitely think it should be part of the curriculum. It's funny because my Mum, Aunt and Nan were talking the other day about how they never had any money, and sometimes they literally had pennies, but they got through. I don't just mean my Nan but my Mum and Dad and Aunt and Uncle when we were growing up too. I never felt poor as a child but I do remember not being able to do certain things. I think despite that, my Mum was always pretty good with money, I remember for a while she used to write a monthly budget in an A4 notepad she had. I don't know if when they were younger, people used credit that much, so perhaps it was never really thought about to teach your kids. I know if I ever have children though I'll be teaching them about money.