Third time's the charm...

RelievedSheff

I think once you have started a habit of budgeting and looking after the finances it will be a habit that sticks.

I hope so anyway.  

shell16

@LittleMissDetermined

I personally think the good habits we form now will carry on when we are debt free.  Our priorities will obviously change to saving or paying off the mortgage.  Should we not utilise the good habits going forwards, I think it would potentially put us into that situation again of overspending.

LittleMissDetermined

Thanks @RelievedSheff and @shell16 - I do feel like it's ingrained in me now to do the budget first thing in the morning with my first cuppa so I can't see that changing easily. 

I also have an obsession with rounding down so I can very easily still keep that habit but move to savings instead, and then put the savings either against the mortgage or into my pension plan as bulk payments. 

My target debt free day stands at 27th May 2023 at the moment... 472 days away.  This date doesn't take into account my daily PADding so it's something I will re-evaluate on an ongoing basis. 

As you can tell, I have a bit of an obsessive personality   At least I am doing much better this time at keeping on track, and I really believe that this diary will see the back of my credit card debts.

Thanks for your ongoing support everyone 
LMD x

LittleMissDetermined

Feeling in a bit of a midweek slump this morning, even though I feel like I slept really well, I could easily crawl back under the duvet!  

I made a chunky bank round down PAD this morning as I need to cover the minimum payment on CC4 before pay day. The overall balances are coming down nicely.  No more movement on the credit scores, just need Clearscore to catch up, although I'm 200 points above the average for my area so that's good.

My birthday is approaching and hubby has asked what I might like as a gift from him.  I'm really not sure at the moment and all of the items on my 'debt free wishlist' are over budget. Maybe I will just ask him to take me for a posh meal somewhere instead... memories over material items and all that. 

I'm looking forward to the weekend away, despite the terrible weather forecast. We will be wrapping up and arranging indoor activities!  

Hope everyone's OK
LMD x

LittleMissDetermined

Awake early today but it's OK because it's my Friday

Might even get to sleep in tomorrow before we head off after rush hour traffic, but my body clock will probably have other ideas haha. 

£3 PAD made this morning, it will be another NSD for me as I'm not going anywhere and all meals will be from the fridge today. Once we get closer to pay day I will be able to see what's left and whether I can make some bigger PAD payments. I don't want to leave myself short of money for our trip away. 

No plans tonight except packing for the weekend and colouring my hair/general preening  

Hope everyone has a good day 
LMD x

RelievedSheff

Enjoy your weekend away.

LittleMissDetermined

Ooh it's Friday at last! I didn't get to sleep in though and we will be leaving for bonny Scotland in a few hours. 

I am feeling quite nervous about having my sealed pot cash in the house, especially as there is so much of it now, and likely to be much more before I get to cash it in.  Considering that I know how much I have I'm going to apply for a Monzo account and transfer the cash in there.  I can sort that all out next week though.  It will give me peace of mind against burglars or house fires... 

So, here's the Friday finance update:

CC4 £3254.40 0%
CC7 £8500 0%
Total debt £11754.40
Total credit available £67,200 (17% utilised)
Bills account £190 credit
Spends account £161.04 credit
Sealed pot £716.86
Debt free challenge 2022 £1714.40/£8000 (21.4% paid so far)
Emergency Fund £477.01 

The bills account is looking rather sorry now. Still 3 more bills to come out too.  I did know that I would have to use my EF for this weekend though so that's OK. 

Still not thought of anything I want for my birthday.  Maybe I will look for something on my wishlist but find a second hand one, that could be a good compromise, it will be in budget and it's something I want.  I'll have to check out that 'Vinted' app and see if there's anything on there, anyone used it before?   Failing that, a nice meal out will have to do.

Even though we are away, I should still be able to PAD this weekend   
Have a fabulous weekend 
LMD x

LittleMissDetermined

Opened the Monzo account, it was so quick and easy!

BadBookkeeper

Hi there, have you calculated how much you may need to pay off a day to achieve your DFD?  Mine is £10, so I know that every extra £10 I pay off, I’m a day closer.  It helps me not waste the odd tenner here & there if that makes sense?  Also helps when I get a mid month slump.

have a good weekend 

LittleMissDetermined

BadBookkeeper said:

Hi there, have you calculated how much you may need to pay off a day to achieve your DFD?  Mine is £10, so I know that every extra £10 I pay off, I’m a day closer.  It helps me not waste the odd tenner here & there if that makes sense?  Also helps when I get a mid month slump.

have a good weekend 

I’ve not done this to be honest, it never even crossed my mind, but sometimes I pay £600 and sometimes just £1… I do have my trusty spreadsheet with predicted set payments which takes me to my target DFD.  PADding is extra which means I should be able to get there sooner