Starting to budget after years of wishful thinking

moving_forward

Doing well. Just make sure that you don't slip back I to old ways and do keep an eye on things. I've been in and out of debt as long as I can remember and only feel now like I'm actually sticking to a budget whilst repaying debt. It is all consuming but part of that is the stress debt causes. 

LegoHead

moving_forward said:

Doing well. Just make sure that you don't slip back I to old ways and do keep an eye on things. I've been in and out of debt as long as I can remember and only feel now like I'm actually sticking to a budget whilst repaying debt. It is all consuming but part of that is the stress debt causes. 

I will never get credit for anything again, I dont even have a credit card anymore. I just remember I do have an arranged overdraft of £250 on my main account and will be cancelling that.

I earn a good wage and will have very low outgoings once I enter the next chapter. I am planning on actively setting myself budgets just like I have been doing so far.

I have been up and down with debt for years, never actually escaped. Last year cleared off my student loan which must have been around £20k with interest. Couple of years ago I paid an ex girlfriend back some money from a loan we have together. 

The last months I have learnt to enjoy the stuff I have rather than constantly buying new things. I do hope that the habits and attitude I have now stay with me for life.

I will check in monthly still after the debt has gone to keep myself on track.

moving_forward

Big pat on the back -well done 

LegoHead

Thanks. One thing I have started to think is that telling people you are debt free in general doesn't seem to be accepted well outside of this forum.

I mentioned it to a family member and the response was whatever... 

I guess if I look at it from their other point of view if someone I knew told me they were debt free while i was struggling I would find it hard to be happy for them. I guess this is going to have to be a largely private victory and pat on the back as it feels like rubbing peoples noses in the dirt when most people I know struggle with money and debt.

moving_forward

I think it could be down to people accepting debt as normal or others may never have been in debt. Personally if someone tells me they are debt free I am happy for them but could see others being jealous.
I would tell who you like when you like but only if they aren't the sort to assume you are now loaded and can cover them.

LegoHead

I will try to secretly celebrate. 

Another step forwards yesterday, paid the money for the rowing machine I sold into the loan as soon as I received it.

20 days to go.

I also did my first ride to work today on my ebike. Was a bit eventful as I hit some black ice and crashed on the way round a corner... A little scrape on my arm, hole in my jacket and a bent crank were my prize. So I saved £5 in fuel cycling but have to pay about £15 to repair the damage! :-)

It usually takes me 35 minutes to drive and it took 43 minutes this morning by bike even with the crash. My none ebike setup used to take 1 hour to 1 hour 15 minutes depending on how hard I pushed. I didnt even break much of a sweat this morning so once the better weather starts I will be riding every day I can.

moving_forward

Sorry to read about your debut ride (okay tittering to myself if I'm honest). At least it wasn't much damage. That's a good time comparison. Be interesting to see how you get on and what fuel savings can be made.
Too many hills and main roads for me to consider riding to work. Plus I have an over protective husband who would have kittens if I attempted it alone without him! Considering when we ride together he has cycled off ahead and missed me falling off in the middle of a very busy road and takes me on a major ring road without any warning let alone guidance I would tell him where to go if I did fancy it 🤣 when we are debt free or nearer to it I shall see about getting an ebike and then might give it a go.

Humdinger1

LegoHead said:

Just figured out that 3 weeks from today I will be debt free

Need to wait till the 6th before my NS&I Bonds are cashed out to then pay that onto my loan.

21 days to go....

Legohead,I now have the Xmas song running through my head.  Lyrics slightly changed, mind you: '21 days to go, 21 days till debt-free'.  What a fab journey you've had and what a read. ..have subscribed love Humdinger x

LegoHead

moving_forward said:

Sorry to read about your debut ride (okay tittering to myself if I'm honest). At least it wasn't much damage. That's a good time comparison. Be interesting to see how you get on and what fuel savings can be made.
Too many hills and main roads for me to consider riding to work. Plus I have an over protective husband who would have kittens if I attempted it alone without him! Considering when we ride together he has cycled off ahead and missed me falling off in the middle of a very busy road and takes me on a major ring road without any warning let alone guidance I would tell him where to go if I did fancy it 🤣 when we are debt free or nearer to it I shall see about getting an ebike and then might give it a go.

I'm a bit sore today! Not looking forward to filling the car up today. I usually do it every friday, but due to the fuel prices I skipped last week in the hope it would come back down this week. Usually spend £5 per day so expected the fillup to be around £50 

I do alot of mountain biking off road, which is pretty dangerous, however I am more scared riding on the roads! I have had more crashes on the road than round the trails. It is usually due to me going too quick around corners.. Not used to how little grip there are on the skinnier tyres. I used to ride through the winter years ago, but now going to stick to dry and warm days as much as I can.

LegoHead

Humdinger1 said:

LegoHead said:

Just figured out that 3 weeks from today I will be debt free

Need to wait till the 6th before my NS&I Bonds are cashed out to then pay that onto my loan.

21 days to go....

Legohead,I now have the Xmas song running through my head.  Lyrics slightly changed, mind you: '21 days to go, 21 days till debt-free'.  What a fab journey you've had and what a read. ..have subscribed love Humdinger x

Not sure which song you mean, I want to know, but also don't! I will have the song in my head all weekend...