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

FOMO_overspender

Thank you @IrishSean

Again not much to report! Had another NSD yesterday, batched cooked some meals and planned for the rest of the week food-wise to make sure get to payday without spending unnecessarily. 

Hope everyone has a nice long weekend.  

FOMO_overspender

Again not lots to report as very close to pay day! Been watching lots of YouTube videos on YNAB to make sure I totally understand how to make the most of it. I think I’ve cracked it now but first full payday will be the test. 

Saturday was a LSD of £2.80 as had to get a few ingredients for a meal I had forgotten on the weekly food shop. Did some more batch cooking. 

Sunday was a spend day as met a friend in the park (from a social distance, of course) to catch up and I took a picnic for us so £20.80 spent. Makes all the difference mental health wise to be able to see people. First time since lockdown have seen anyone in real life! Lots of people doing the same too but all being super respectful, which was nice to see. 

Today should be a NSD and that takes me to almost payday! 

So far, so good on my DFW. Have managed to OP on both my CC and Loan and still have money in my account. I’ve also budgeted for some of next month’s bills with this month’s money.... hoping to slowly keep doing that each month. 

It’s crazy what focus and some perspective does. Also this forum has helped massively too! 

FOMO_overspender

So yesterday was payday! IFor the first time ever it didn't seem to matter in a financial sense (it did from my want to get this debt driven down)... I wasn't in my overdraft (in fact, I have reduced that right down to £150), I hadn't paid for anything on my credit card and I hadn't added to my debt at all - I actually had money left over! It is honestly the first time in my adult life I have ever had a month like that, so thank you to everyone on here who helped me get to this point. All the tips, advice and support definitely got me here. 

So, first, update on debts: 

• Virgin: £100 paid/ new total: £2,300
• Loan: £384.30 regular payment + £115.70 over payment = £500 paid/ new total: £19,645 
• New debt total: £21,945

I cashed out £13 from Prolific today and also made a £12 saving on my phone bill this month, so will put that £25 to the loan. I also got £20 worth of M&S vouchers from my now closed and paid off M&S credit card, so used those to buy some clothes I needed, which means I can take out £20 from my £50 clothes budget to add to loan over payment. 
 
I then used YNAB to budget out all of my other £s, including savings: 

Savings: 

• Emergency Fund: +£65/ new total £125 - my aim is to have £1,000 by December so upping the £ to £125 a month from June pay day
• Help to Buy ISA: +£50/ total £50 - have set up a standing order of £50p/m for now. Once I have the EF up I will then add the £125p/m and maybe increase to the full £200 limit a month
• New savings total: £175 

Budget/Expenses: 

• Fixed Expenses (this covers rent, bills, subscriptions etc): £945 
• Groceries: £250 - this is probably too much, but I wanted to over budget to make sure as still sometimes not able to get everything you want from online groceries 
• Takeaways: £50 
•  'Future Debt Prevention' Pots, which include Birthdays, Holidays, Dentist, YNAB subscription cost (!) etc - £382.50 in total across all 8 pots 
• Stuff I forgot to budget: £50 - hopefully I can add this straight to my loan OP but you just don't know what you have forgotten until you forget it!?! 
• Toiletries/Skincare: £50 - I have almost used up every last scrap of shampoo etc in the house, so this is higher than normal as I will bulk buy and then not need to budget so much in future months 
• Clothes: £30 - thinking to move this in to my 'Future Debt Prevention' Pots? What do others do? 

Goals: 
This month, I am aiming to: 

1. Have at least 3 x NSD per week 
2. Go running 2 x per week - I got really nervous during lockdown and stopped going at all but my clothes budget is going to need to double if I keep going the way I am!! 
3. Meal plan to save £ on groceries 
4. Keep up with surveys to add as many ££s to loan over payments as possible 

Feeling positive and in control of my money, which I have never felt before. So there's something. 
Hopefully will be able to update the debt total again in the next week or so as I make savings within my budgets as above throughout the month. 
FOMO x

enthusiasticsaver

Sounds like a successful month.  I have a personal savings pot where clothes money is set aside along with haircut/beauty treatments etc.  It is looking pretty healthy at the moment  as we cant spend anything. Loan is now under £20k. Even better that you are not in overdraft. 

FOMO_overspender

Thanks @enthusiasticsaver

Yes I did think about having a savings pot where I put money aside for clothes. Maybe I’ll start that and if it builds up (as I’m trying to really not buy new clothes unless I need to replace something) then I’ll use the £ to over pay debt. 

Yesterday was a NSD. Today will be a SD at my weekly food shop is arriving later. 

Also got the £13 cashed out so paid the extra £25 to the loan, so now we’re down to £19,600. I’ve set a goal on my budget to pay this all off by Dec 2022 - it’ll mean sticking to a strict budget and overpaying every month but I’m hopeful I can do it. 

FOMO_overspender

A new week and a new month! 

So far on track with the NSDs, had one yesterday and today is set to be one too. I do have two Birthdays in June for family, so looking at the best way to get them a pressie and card within my £20 total budget. Both love to read, so that should work out easy within budget if I get the books from Hive they are free delivery (instead of Amazon where the book is cheaper but £2.99 delivery as I don't have prime anymore) and Quido gives me cashback too. I think being more inventive for gifts out of lockdown will be easier, but this is a good start for me as normally I would never try to stick to any kind of budget. 

Been a bit rubbish on doing surveys over the weekend, so going to try and do some more this week. 

Oh also meant to add that I got a free audible trial which let me read one book for free (trial is cancelled so don't end up paying) and I chose Clare Seal's 'Real Life Money' - her circumstances are really similar to me (similar level of debt, still renting, spending to keep up with the Joneses) and I found it really useful and interesting.

enthusiasticsaver

I love Hive.  Purchases from there support local independent book retailers too. Hope the audio book is interesting.  

Kakiste

Hi. You've started really well. Well done in not being in your overdraft and having money at the end of May.
I've a similar amount of debt to you and I found it really motivating to have a brand new bank account with a new bank so that when I log in I may only see £15 or so but it's MY money- not -£3400 odd. I'm also really upbeat about no longer having an overdraft. 

FOMO_overspender

Yes @enthusiasticsaver - I hadn't actually realised that until I bought the book and it let me support a local book store near me. Will definitely be using them instead of Amazon always moving forward. 

Thank you @Kakiste it's really motivated me and knowing now whatever money I do spend is mine and not going to need to be paid back is so motivating. Obviously still trying to over pay as much as possible to my debt but knowing I am not adding to it and only driving it down is amazing.

Yes, I have a Monzo account where I transfer what I have allocated just for my monthly spending (e.g. groceries etc) and the rest stays in another account, meaning when there is no money left in Monzo then I am done. Although it's a shame Monzo now offer overdrafts and loans, I think this was a big plus for people using it.

enthusiasticsaver

FOMO_overspender said:

Yes @enthusiasticsaver - I hadn't actually realised that until I bought the book and it let me support a local book store near me. Will definitely be using them instead of Amazon always moving forward. 

They are great and do DVDs too so I have started using them for birthday and xmas presents.  Sadly I need to use Amazon for kindle books still but in everything else I have been sourcing other providers as I don't like Amazon's bad staff conditions or tax avoidance. They are convenient though and often cheaper so understand why lots of people use them.