YNAB...ing my way to freedom!

SuperFrank88

BlytheDoll wrote: »

Hello SuperF..

How are you getting on with your budgets and EF savings

Have you looked closely at your spending over Jan to see where you can cut back at all?

Try accounting this month In February at every penny, create a spreadsheet if you haven’t already and track your spending on a daily basis, you will then be able to see what your current account shows and any emergency fund savings as well. It will keep your mind on the project ahead.

Hope you have a good week
BlytheD

Hi Blythe, How are you?

I have got my spreadsheet all set up and so far so good, though we are only 6 days into the month so nothing exciting to report so far. The EF has had £70 added to it this week so I am now at 28.11% :T

I need to sit down and go through my January spend to see where my money was going to see if I can make any cut backs. Still feeling a bit in limbo but it will come.

Hope you're having a great week too.

Frank.

SuperFrank88

Hi everyone,

Wow it has been a really busy, but productive week in work.

Nothing really exciting to report from me. Squirrelled another £70 into the EF but with the car bills this month I can't see much more being added to it unfortunately. Still pretty quiet on the creditors front. Getting the odd letter to say I have missed payment but nothing nasty yet It will come I am sure.

Now off to get some car insurance quotes. Hate doing it because they really do make the prices up! But for the first time ever I will be paying it in full this year so that I save on the interest Sky has finished too so that is another £38pm saved. Just as well the Six Nations is on freeview .

Frank

Timpanum

Hiya,

I started reading your thread and wanted to wish you good luck on your journey.

Having an Emergency Fund is essential as I feel it stops you adding to the debt if something unexpected comes along. It also gets you used to living on less than you earn which is an absolute must for us Debt Free Wannabes!!

My Emergency Fund is all saved up and is 3 x my monthly bills (£3600) and yes, I could clear off a lot of my debt in one fell swoop, but if the car suddenly collapses, I'm back to square one if I've got no fund.

It just feel more in control for me. Well done on your fund - you're smashing it!!

Timps;)

SuperFrank88

Timpanum said:

Hiya,

I started reading your thread and wanted to wish you good luck on your journey.

Having an Emergency Fund is essential as I feel it stops you adding to the debt if something unexpected comes along. It also gets you used to living on less than you earn which is an absolute must for us Debt Free Wannabes!!

My Emergency Fund is all saved up and is 3 x my monthly bills (£3600) and yes, I could clear off a lot of my debt in one fell swoop, but if the car suddenly collapses, I'm back to square one if I've got no fund.

It just feel more in control for me. Well done on your fund - you're smashing it!!

Timps;)

Hi Timps,

Thank for stopping by 😊 it really is nice to hear that I’m doing the right thing regarding the emergency fund. Sometimes I do question myself. 

Frustratingly I’m still getting the missed payment letters rather than the default letters but I’m sure they will start to come in a couple of months.

Hope you have a great weekend.

Frank

SuperFrank88

Hi everyone,

Hope your weekend is going well so far. Took DD to the park this morning as it’s been a pretty nice day here before the storm tomorrow. Very proud of myself today, my OH asked if I wanted to go out for food tonight, I said no thank you but I will cook us a nice Steak dinner with all the trimmings much nicer, and a whole lot cheaper than going out.

Need to fill the car up tomorrow. Been checking car insurance quotes everyday as my renew date is 4th March. Managed to get it down to £390 with cash back so far and will be paying that in full. 

Planning a really lazy day tomorrow, was meant to sort the attic out but I’m using the “Don’t want to be in the attic whilst there’s 60-80mph winds forecast” card safety first ey! I’ll play it by ear.

I’ve also decided that I will be splitting my car job up between this month and next month. Car Insurance, tax, Mot & Service will be done this month (because they HAVE to be), will also get brakes done because they are pretty important. Next month will get timing belt and water pump done. If I did it all it would come to about £1400. If I split it up it will be £900 this month. 

Anyway, second half of the rugby now....come on the Scots

Frank

SuperFrank88

Afternoon all,
Jeez it is rough out there today!
I spent a couple of hours this morning 'digitizing' my file. I have created separate folders for all of my creditors and will start to scan every single letter that I receive going forward so that I have the hard copy and also a electronic copy. Seeing as I have quite a few creditors, I want/need to be as organised as I can be so that I do not miss anything which could put me into a worse situation such as missing a default letter. I have made a table with a list of creditor names and a 'date of default' column so that it is easily readable/accessible rather that scouring through credit reports. I will obviously be keeping track of my reports too.

I am off to the gym now, yep...I signed up!

Even though many of you may shout at me for doing so, I weighed up (No pun) the pro's & con's and I am happy with my decision. It is £20pm but I am not tied into a contract as I am on the student membership so can cancel at anytime. The gym opens at 5:30am which suits me perfect because I can go to the gym, shower there (reducing water at home) and be in work by 7am to have my pre prepped breakfast (Cheaper). I feel so much better within myself mentally & physically after only a week back training. I have more energy, I am eating much better as I am batch cooking everything at home. My OH also comes with me (pays for her own membership) so it is really nice to be able to do something together instead of coming home at the end of a busy night and both staring at screens. I don't smoke and I don't drink so to me I think £20pm to lead a very active and healthy lifestyle is worth every single penny! We don't go out much socializing so the fitness classes included in our membership are our chance to meet up with people doing something we love. I see that as a win/win. Others may say buy some gym equipment for the house, it's cheaper. Yes it is, but that is not fun, and if it is not fun then I will not stick to it. This whole journey for me is a marathon not a sprint.
Going to stop now because it is starting to sound like I am trying to justify myself, I am not  
Hope you all have a great day.
Frank

BlytheDoll

Hello SuperF..
Ok, Ok...(gym membership, will come onto that)
Firstly well done on the folders and the organisation looking forward for the creditors letters and debts, well thought out. If you do the same on a spreadsheet for your current DD and outgoings so you can plan and budget alongside, and monitor everything.

Secondly, well done on adding to the EF, even if it is less than you had initially anticipated, you are definitely thinking about your money in much more depth, especially when looking at your car insurance and car spends over the next few months, I bet if you think back to last year, you would not have done the same.

Gym.. I think you have also thought about this, rather than rushing into signing back up. You say that it’s a student membership and can cancel as required so that’s a bonus, and it sounds like you are enjoying and benefiting from this aswell, and at £20 is not too expensive.

The last few weeks for me have been majorly expensive, house insurance, car insurance and emergency car repair all within 2 weeks, however for the past 12 months I put aside funds each month into separate “pots” so everything was covered, and makes it feel much better knowing the money is already there for these things.

Keep positive, spend little, and have a good week!

BlytheD..

Sarahwithlove

It sounds like the positives far outweigh the negatives of joining the gym. As long as you actually use it that’s what matters. 

SuperFrank88

BlytheDoll said:

Hello SuperF..
Ok, Ok...(gym membership, will come onto that)
Firstly well done on the folders and the organisation looking forward for the creditors letters and debts, well thought out. If you do the same on a spreadsheet for your current DD and outgoings so you can plan and budget alongside, and monitor everything.

Secondly, well done on adding to the EF, even if it is less than you had initially anticipated, you are definitely thinking about your money in much more depth, especially when looking at your car insurance and car spends over the next few months, I bet if you think back to last year, you would not have done the same.

Gym.. I think you have also thought about this, rather than rushing into signing back up. You say that it’s a student membership and can cancel as required so that’s a bonus, and it sounds like you are enjoying and benefiting from this aswell, and at £20 is not too expensive.

The last few weeks for me have been majorly expensive, house insurance, car insurance and emergency car repair all within 2 weeks, however for the past 12 months I put aside funds each month into separate “pots” so everything was covered, and makes it feel much better knowing the money is already there for these things.

Keep positive, spend little, and have a good week!

BlytheD..

Hi Blythe,

I have just checked my online banking and I have only got 3 DD’s and 3 standing orders. This is because I’ve cancelled sky and going to pay car insurance and tax in full. So that will be very easy to track on the spreadsheets.

I am just in the process of setting up my ‘pots’ on Monzo for things like Car insurance, servicing, tax etc so that next year I can be like your situation and have the money there waiting. That is going to feel incredible!

Thank you for your continued support, I really appreciate it.

Frank 

SuperFrank88

Evening MSE,

So I am currently on the phone to Sheila's to renew my car insurance IN FULL I have never done that before and it will save me over £50 in interest this year! Apart from that it has been a pretty 'as you were' week. Not getting any letter and nothing is really happening apart from a letter from Avant credit saying that they 'MIGHT' send a field agent out to my house to speak to me. Crack on I say, they will not get a warm welcome if they knock on my door I can promise you that!  A part of me really wants to just phone the companies up and say 'look, the quicker you default me the quicker you will get your money back'. So frustrating having to go through the process and play the system. 

Plan for tonight is to look at prices for new brake pads & discs. The cheapest quote I got from a garage to do them was £240! The parts in Euro Car parts are £120 so that's £120 they were going to charge me for the privilege of fitting them for me. So I am going to get my hands dirty and do them myself. I'm determined to find the parts cheaper than £120 though .

Hope you're all having a great week. Brace yourself for storm Dennis

Frank.