Overwhelmed, lonely and constantly broke

captainhoarder

Hi everyone

Well it's exactly what it says in the title; I am all of the above. 

And why?
I really don't know

The same thing just happens over and over again ever single month. It gets down to the last week and there is nothing left. I pay my bills on time. I put aside money to pay off my credit card and then I have nothing left. I then use my credit card to get by until payday. Therefore the bill is large but I put that out of my mind and say "oh never mind, it'll just come out of next month's pay" 

I've been feeling for a while that credit cards don't seem real and what you're spending isn't real. Therefore you just don't take it seriously. It's only now that I've realised how damaging that attitude is.

Well now it's going to stop. Whatever it takes.

I won't be able to do it alone. I shall come on to here and read the other diaries for inspiration. If anyone has any words of encouragement, they would be greatly appreciated.

Stay safe and look after yourselves during this difficult time.

Captainhoarder

SuperFrank88

captainhoarder said:

Hi everyone

Well it's exactly what it says in the title; I am all of the above. 

And why?
I really don't know

The same thing just happens over and over again ever single month. It gets down to the last week and there is nothing left. I pay my bills on time. I put aside money to pay off my credit card and then I have nothing left. I then use my credit card to get by until payday. Therefore the bill is large but I put that out of my mind and say "oh never mind, it'll just come out of next month's pay" 

I've been feeling for a while that credit cards don't seem real and what you're spending isn't real. Therefore you just don't take it seriously. It's only now that I've realised how damaging that attitude is.

Well now it's going to stop. Whatever it takes.

I won't be able to do it alone. I shall come on to here and read the other diaries for inspiration. If anyone has any words of encouragement, they would be greatly appreciated.

Stay safe and look after yourselves during this difficult time.

Captainhoarder

YNAB.... it’s changed my life! You sound like I did last year. Read my diary if you like. Couldn’t break the cycle. Now my attitude towards money has completely changed. 

Good luck, I’ll subscribe to your diary. 

Frank

savingholmes

Just wishing you good luck on your journey. A series of small steps can really help.

CreditCardJunkie

I could have written this... What my issue was I'd run up one card, do a 0% balance transfer to pay it off and then run the other card up again, all while paying every spare penny off the 0%, thus still spending on the original card.
I started by using a spreadsheet to tally up every penny I spent in a month - I was spending a few hundred pounds of absolute rubbish a month! Lunches out at work in particular were costing me a fortune!
I then went onto stat maternity pay which is a significant drop in income. With this, I have a set "allowance" each month for spends. I still track it on the spreadsheet and it really does make you think twice about spending. Why spend £5+ on lunch when you can make it at home for "free" (comes out of shopping money and not personal spends).
I also have my debt on a spreadsheet, and I run a "predicted" line on it so I keep adding any extra money in here throughout the month (from mystery shopping) and it's so motivating to see the figure drop down even by £10.
I've learned it's definitely a marathon not a sprint and you need to be realistic with your spending!
You can definitely do this, you just need to discipline yourself! The SOA's are a handy place to start to see where you can trim some costs down.
Good luck 👍

captainhoarder

Hi guys

Thank you for your lovely positive comments, I don't feel so alone facing this now.

I have found a tiny little notebook that I have started using a s a spending diary. My Mum and I went through my finances (internally I was crawling the whole time! so painful!) We worked out that for the next 4 weeks, I have £50 per week spending money. I have paid back £10 that I owe someone and bought some pharmacy things. 

Of course at the moment we can all only go out once a day for exercise or essential items so there really is no frivolous spending taking place. I keep going on to Amazon and eBay and typing things in but I'm not really looking to buy; there's nothing that I need.

I'm taking this time as an opportunity to use what I already have to fill the void I have been trying to fill by buying 'stuff' 

It's only been a week so I'm just starting out. However I haven't bought anything online so that is a good thing!

I shall check in again in a couple of days.

Stay safe and look after yourselves and each other

captainhoarder

CreditCardJunkie

You are definitely not alone. £50 a week is certainly doable, especially as there's no where to spend money! Have you done a SOA? It really helps to budget! 

captainhoarder

CreditCardJunkie said:

You are definitely not alone. £50 a week is certainly doable, especially as there's no where to spend money! Have you done a SOA? It really helps to budget! 

Hi CreditCardJunkie

I did do one. It was a very empty one because a lot of the things to fill out like life insurance etc I don't have. In truth my finances are very uncomplicated but I have made them very complicated in my head! Sounds really silly, I know.

I did go out yesterday. I went to the pound shop and bought some bits for the house and a blank A4 notebook to use as a Coronavirus journal. The grand total came to £10. I've made a note of it in my little notebook. When the new £50 starts tomorrow I will put what is left of this week's money in my savings fund. This savings fund isn't set up for anything specifically but it's somewhere to start.

I do have a budgeting guide book knocking around d the house somewhere. I shall dig it out today and see what I can do with it.

Take care of yourselves and each other

Love and thanks

captainhoarder

SuperFrank88

Hi,
Just checking in to see how you are doing?

Frank

doingitanyway

Wishing you well. Great aims