YNAB...ing my way to freedom!

Parkyp

Brilliant, you’ll be glad you stuck to your guns with that one. It’s amazing what makes you happy these days 🤣🤣🤣🤣. Enjoy your weekend 

Sarahwithlove

Finally. Let's hope they actually go through with it! 

Legs21

Brilliant news. Really pleased for you. 

SuperFrank88

Thank's all, yes really glad I dug my heels in.
Yes @Sarahwithlove, but I think they can see that I am not budging so let's hope they now go through with it. They know they will start getting paid the quicker they default so it is in their best interest really.

SuperFrank88

Morning all. I hope you are all well?
Nothing much to report recently. Sad watching my Monzo pots all deplete because of the car bills this month, but so grateful that I had the sinking funds there ready when needed. Car insurance paid IN FULL for the year got my MOT & Full Service booked in for next Friday, fingers crossed that it sails through and I don't have to dip into my 'Car Repairs' pot, then tax due at the end of the month too which will also be paid IN FULL  Looking forward to building the pots back up ready for next year. 
I would LOVE to be able to help my close friends & family with their money issues now that I have finally sorted mine out, but every time I bring the subject up, it quickly gets shut down. Such a shame there is such a stigma around money! I see my loved ones struggling every month to scrape by (exactly how I was in the past!), but it really doesn't have to be like that. As the saying goes, knowledge is key! 
I think after this pandemic, the negative aftermath on peoples personal finance is going to be around for years to come! So now more than ever it is important to break that taboo and for people to start talking about money more.

Anyway, went off on one there   

Sarahwithlove

I totally agree. Have you been open about your debt and how you have managed to get out of it? All you can do is give people advise and sign post them and let them know you are available if they want some help and hope they get their LBM and ask for help. 

Shopaholic_no_more

Hi @SuperFrank88 I hope you don’t mind me gatecrashing your diary but I was reading your earlier pages and came across your mentioning of OyeTV on YT and what a revelation that man is!! Wow, I had no idea.....so I just want to say thankyou so much for putting his name out there!! I am on another forum on MSE and I have now put his name out over there too. These people should be held to account for the misery they cause others ....a very sad state of affairs that there are such greedy people in the world isn’t there? So, thanks once again, I’m now going to go back to the earlier pages in your diary so I can catch up! You have a new follower 😊👍.

SuperFrank88

OLaney said:

Hi @SuperFrank88 I hope you don’t mind me gatecrashing your diary but I was reading your earlier pages and came across your mentioning of OyeTV on YT and what a revelation that man is!! Wow, I had no idea.....so I just want to say thankyou so much for putting his name out there!! I am on another forum on MSE and I have now put his name out over there too. These people should be held to account for the misery they cause others ....a very sad state of affairs that there are such greedy people in the world isn’t there? So, thanks once again, I’m now going to go back to the earlier pages in your diary so I can catch up! You have a new follower 😊👍.

Hi @OLaney
Thanks for the comment. I agree, I love his no BS attitude towards debt companies. I was very grateful to find his videos because I used to be one of the ones who would be up all night worrying about debt. He completely changed my mindset with the way I look at my debt/creditors now. I always put myself first and then whatever is left will go towards my debt, not the other way around. 
I get why people want to throw everything and the kitchen sink at their debt, but we are all different. My debt will get paid back eventually, but on my terms, no theirs  

Shopaholic_no_more

@SuperFrank88 yes, and that is how it should be...on your terms!! Especially, when I learned that when these banks lend you money they literally get it from thin air and if they do pass the debt on to another creditor it is as not that actual amount they sell it on for...it is pittance!! That actually made me really angry....I have debt ....2 credit cards at a high percentage and a bank loan but I also have a mortgage and would like to move at some point in the next few years so even though I would love to default on my payments, like you, I’m not sure it would be a good idea as it will be too much damage on my credit file? My credit file could be better as it is haha.
 Also, looked up YNAB....it is now £75.99 for the year or £11 something a month 😳....would you say it was still worth using at that price? I, too, cannot get on with spreadsheets....🤷‍♀️. 

You have inspired me greatly, following your diary, with how well you are doing!! My aim is to get rid of my debt....downsize....and then just have a part time job so I have a better work/life balance. This pandemic has taught me so much about myself....as I’m sure it has others. 

Anyway, rambling over, well done on your excellent achievements this past year! 😀

SuperFrank88

OLaney said:

@SuperFrank88 yes, and that is how it should be...on your terms!! Especially, when I learned that when these banks lend you money they literally get it from thin air and if they do pass the debt on to another creditor it is as not that actual amount they sell it on for...it is pittance!! That actually made me really angry....I have debt ....2 credit cards at a high percentage and a bank loan but I also have a mortgage and would like to move at some point in the next few years so even though I would love to default on my payments, like you, I’m not sure it would be a good idea as it will be too much damage on my credit file? My credit file could be better as it is haha.
 Also, looked up YNAB....it is now £75.99 for the year or £11 something a month 😳....would you say it was still worth using at that price? I, too, cannot get on with spreadsheets....🤷‍♀️. 

You have inspired me greatly, following your diary, with how well you are doing!! My aim is to get rid of my debt....downsize....and then just have a part time job so I have a better work/life balance. This pandemic has taught me so much about myself....as I’m sure it has others. 

Anyway, rambling over, well done on your excellent achievements this past year! 😀

You're too kind! There are people on here doing much better than me for sure! But I am just chipping away doing my thing. Don't get me wrong, hindsight is a beautiful thing and looking back over the last 12 months and knowing what I know now, that I didn't at the start, I probably would have done things a bit differently. I went all out guns blazing trying to get my defaults so that I could have a fresh start and not have to keep wasting £00's every month on interest. It has taken just over a year to get all those defaults (the last one should come through any day now) then I know 6 years from now I will be free! But now that I have put my credit file through the blender, an opportunity has risen for me to potentially take over the company I work for in the next 4-5 years, so I will have to wait and see how my decisions this last year, effect that opportunity when the time comes. What it has made me realise now though is that I need to buckle down the hatches for the next few years and get as much cash behind me so that I do not have to rely on getting accepted for credit when the time comes. So as you will be looking at mortgages in the near future, then maybe going for the defaults won't be the best option? How much debt are we talking? Is it manageable? Maybe start your own diary and get all the numbers written down and the great folk on this site can help you. I'll definitely give my two pence worth if I can help in anyway  

Re YNAB, yes I absolutely love the software. I have been lucky to have the free student version and will get 10% off my next annual subscription. But for you I think they are advertising at $84 for the year which is just shy of £60, which works out to £5pm if you can afford to pay it in one hit. I think it worth every penny. The amount it saves me by having a budget would be far more than £5pm. The way I look at it is that I could never build a spreadsheet as good as the software in YNAB, and even if I could, how many hours would it take? I value my time so much more to pay £5pm over tearing my hair out sorting a spreadsheet.... But I am biased.