Tackling This Debt One At A Time

[Deleted User]

Well, it was payday yesterday and reevaluating my spending to not rely on my credit card went off to a good start.  Regular payments and subscriptions are all allocated and sitting in the main account waiting.  I transferred the remaining amount into another account.  This second account will be used for the day to day spends from next month but in the meantime I've paid all the bills and April will be the last month using CC3.  I just have to make sure I don't over spend on CC3 (I have a budget) and fingers crossed, I've nailed it.  I am just hoping Mr BB either gets his usual bonus or even better his end of year bonus, apparently it's still too close to call - this will help with the car insurance, which is due in June - ideally, I want to pay this off in full but I'm trying not to worry or get my hopes up. Frustratingly, I have to wait until my bank opens on a weekend to be able to make it into joint account.  It's so annoying that this cannot be done over the phone or by completing a form as we already have existing joint accounts already.  

Feeling a little deflated today, worrying about money all the time seems to have really taken over my life.  I sit and look at the spreadsheet - pretty much in the hope that I've made a mistake and we have more funds than I thought.  Did the food shop today, should last the next two weeks except for the usual bread, milk etc.  It would be nice the stretch the food shop for a bit longer.  With half term coming up, I would like to try and do some days out, mainly walking with picnic (weather permitting). the little BB's are enjoying using their bikes again so we can get out in the fresh air instead of being cooped up in front of technology.   Also, I have a small list of jobs to do which includes getting the back patio summer ready and getting the furniture out ready; painting the porch and door frame - thankfully I already have the paint - will just need to get paint brushes.  

Anyway, once the statements have been updated I will update my figures.

[Deleted User]

Update: Finally managed to make additional accounts joint today so all sorted for next payday and can stop using the one credit card.  I have decided for definite it will be cleared and closed.  I'm so fed up of worrying about adding things onto the credit card.  We've overspent again but couldn't be helped (or the fact that I give in too easily ) On a plus side, Mr BB get's his bonus which will give us an emergency fund, clear the one credit card, pay for car insurance and road tax all in one go (hopefully). Will not get the exact figures yet but only 10 days till pay day.

WinterWarrior

Hi @MrsBrownBear, I have caught up on your thread. You are doing great!
Mr WW and I keep finances separate and are responsible for a share of some items, divvy up others (eg one pays  electric, one oil, etc.) However, if we had shared finances I would have died of fright by now as we have very different ideas of treats. I do still worry, but plan to tackle the dark side once I have put my own house in order! I would really struggle to say no to things he wants, but this way I find I can turn a blind eye. 

[Deleted User]

Hi @WinterWarrior. Thank you for reading my journey so far! We've always been transparent with finances and the debt we've run up include some very bad choices as well as essentials.  For as long as I can remember, we've always lived pay day to pay day.  Thankfully, we've both worked during lockdown, Mr BB had a pay reduction due to shorter opening hours but really he still worked just as much which was naughty of the company. We came to realise how much money we were spending on Amazon and eBay; I was always buying stationery, books and exercise books for the children's their lessons were full on.  Also buying them treats as we wanted to reward them. We came to realise how lucky we were and realised that we were one pay day from potentially losing our jobs with no financial backup.  We managed our debts very well and were affordable as long as we had the money coming in.  

Really hoping 2021 will be our year to sort our finances and start 2022 with a seriously reduced debts and a new savings habit.

WinterWarrior

That is very much like us, definitely just one pay day from disaster. We have always worked and luckily worked right through the pandemic with no changes, but won’t it be wonderful to have a new savings habit and a cushion in case things go wrong in future. We have the highest credit ratings, but I have been following Dave Ramsey and think he’s right that credit ratings are a bit pointless when you finally move to having money instead of using credit. I look forward to following your journey and cheering you on. 

[Deleted User]

Been a bit quiet week this week, money wise ; just waiting for payday before all the activity starts again!  Had my COVID jab today.  I was very surprised to receive a text from my surgery on Tuesday to book a time for today and managed get an appointment after work - bonus!  On another good note, I've managed to get a full refund from a campsite that only issued credit notes last year for a long camping weekend.  This has helped keep me ticking over till payday.
Been walking to work and back too; clocking up over 18,000 per day...hope it will make a difference on the scales on Monday. 

[Deleted User]

Been productive today, blitz the house and MrBB did the garden and ironed his shirts (and the children's - result!!). It was nice to air the house.  Weather very deceiving as it was lovely and bright, with very little cloud in the sky but a bitterly cold wind.  We decided to have another BBQ but ate inside! Received payslips Friday ready for next week's payday!  Sat down with Mr BB, all sorted and CC3 will be cleared and closed! We will actually have some money in our emergency savings, money set aside for car and road tax (which isn't due till June) but didn't want to rely on next payday to find the money.  All savings pots, house account and spending account will look rather healthy; even if it's only for a week or so! Feeling quite excited really.  

On a negative note, I'm with one of the big six energy companies which supply my gas and electric.  I'm on a rather unusual plan where I submit my meter reading every month then pay the balance when the bill is generated rather than paying monthly by direct debit.  I switched to this tariff back in December but as soon as I'd signed up to it they wanted me to change the plan but the alternatives were very expensive so I have it on a diary to do meter readings on the 28th of every month (based on when the plan started and when they requested the first two meter readings).  This was going fine but now they're requesting meter readings more frequently. Receiving them about every three weeks, which personally is a bit a pain.

WinterWarrior

The plan does sound painful, you can’t really budget when it changes every month. Are you locked into that?
congratulations on your savings pots, that’s a great result.
It’s always lovely at payslip time when you can start to plan. Mine doesn’t fluctuate, but I still feel better when the slip is there for the next month!
Happy Monday @MrsBrownBear ⭐️

[Deleted User]

WinterWarrior said:

The plan does sound painful, you can’t really budget when it changes every month. Are you locked into that?
congratulations on your savings pots, that’s a great result.
It’s always lovely at payslip time when you can start to plan. Mine doesn’t fluctuate, but I still feel better when the slip is there for the next month!
Happy Monday @MrsBrownBear ⭐️

I survived! Payday tomorrow - I'm so relieved. 

@WinterWarrior I am tied into my energy company until December, will be shopping around (as usual)

WinterWarrior

Woohoo @MrsBrownBear 🎉🎉🎉 well done...one more sleep! You can be up bright and early doing the happy money shuffle dance 😁

Friday seems sooooo far away!