Sorting out the mess 'past me' got me in to, for a happier 'future me'

FOMO_overspender

Thanks @Mahsroh - will make sure to ask for one when I have the total below £3k in that case (as that was the total interest amount). Hopefully when I also get my 1st year's statement it should reflect the OPs which will be in October. I did a snowball calculator and if I follow the plan, I should be able to pay off the loan 2 years early, so that should definitely mean the interest amount will be much less than anticipated.

So catching up, Thursday ended up being a spend day getting a takeaway but that was within my monthly-set budget. Then Friday, Saturday were both NSD, which brings me up to 13 days this month. Obviously easier due to the situation but also glad haven't just been mindlessly shopping online when I am bored. Today should be another NSD too. 

Feel like getting to grips with YNAB now as well. Going to go for a walk in this lovely weather later to get in the steps.

Hope everyone is having a nice weekend. 

FOMO_overspender

Happy Monday everyone! 

Ok, so Sunday ended up being a LSD as ended up getting some snacks (ice cream and a bottle of wine) to enjoy in the garden in the sunshine. so spent £7.66. Have my weekly shopping being delivered today, so that was £43.73 spent, but all within the budget. Hoping I might be able to actually eek out what I got across two weeks with careful batch cooking and clever recipes.

Realised I had missed of a couple of categories from my budget around travel (probably as at the moment this is so far from reality) but should make sure they are on there, so when the time comes I will budget for getting taxis and train tickets. I can see YNAB is going to be a game changer, it feeds the OCD in me of having everything neat. This alongside the spending diary. 

Hope everyone has had a positive start to the week! 

FootyFanDan

Hey FOMO,

You are making great progress even at this early stage. Glad to see YNAB is looking like it could work for you. Hope you have a good week

FOMO_overspender

Thanks a lot @FootyFanDan appreciate the encouragement! 

Not lots to report but loving the weather. Had confirmation my hours will continue to be reduced until end June, which means a smaller salary for another payday. However, seeing it that when I get my ‘normal’ salary back then the extra can go straight to debt repayment as I’ll be used to my reduced budget! Got to focus on the positive so don’t get disheartened. 

Overpaid £55 to my loan today, taking me to £20,145 💪 my next pay day payment will drop me below the £20k mark which is going to be a great feeling!

Cashed out £6.56 from prolific and done a few more studies so should be able to cash out another £7 by the end of the week - it all adds up. Going to us this money to overpay the credit card. 

I know the loan has more interest but seeing that £2.4k gone would be a huge weight lifted, so might concentrate on OPs next month on that alongside the loan. 

Got meal prep and batch cooking fun tonight to make the most of my food shopping until payday next week. 

Today is another NSD too, which I think takes me to 14 in total this month (need to check) 🙌

Hope everyone is doing ok and able to enjoy the sunshine.

ThatKiss

FOMO_overspender said:

Had confirmation my hours will continue to be reduced until end June, which means a smaller salary for another payday. However, seeing it that when I get my ‘normal’ salary back then the extra can go straight to debt repayment as I’ll be used to my reduced budget! Got to focus on the positive so don’t get disheartened. 

This is a great attitude and doing exactly this when I had a temporary drop in income helped me pay off my debts much quicker - being forced to cut your cloth (further) does wonders for amending a budget and making sacrifices you might not have otherwise. Those sacrifices then become habit, so it's easier to direct the difference to debt payments when normality is restored.

In the long run it means your debts are paid more quickly and your money becomes "yours" again sooner - which is a great feeling!

FOMO_overspender

That's really encouraging to hear @ThatKiss - always nice to know that something has been tried, tested and successful! I think getting the loan to below £20k and then working on shifting as much on the cc next month will help mentally like I am getting somewhere too. As £20k is a big number! 

FOMO_overspender

Not much to report other than today was another NSD and also did another Prolific study, so should be over the threshold to cash out once approved. Will add to the £ from rounding up transactions on Monzo in to a savings pot, so should be able to add £10 OP to the loan.

EchoB

You’ve made fabulous progress, I will subscribe for inspiration/motivation!

FOMO_overspender

Thank you @EchoB Reading all the diaries, hints and tips has helped so much - especially when you get to that point in the month when you've paid everything and just a case of waiting for payday. 

Have also subscribed to your diary too.n

IrishSean

VWD💪

Visualise how it will feel getting the total to sub £10k then to zero😀

Build in the treats to celebrate too (don't have to be costly)