Good With Money

booksandcoffee

Here’s the thing: I’m in a Debt Management Plan already. But it has been very much ‘set it and forget it’. It started in Summer 2018 and I was hyper focused on Sorting Out The Money. I figured out the options, decided on a self-managed DMP and everything was set up, running like clockwork. Easy peasy lemon squeezy. In that time, some of the debts have been paid off in full and are now gone forever. I was finally, finally on top of things.

But.

I’m still not Good With Money. 

Every month it’s the same old boring story: the first half is comfortable and easy, the second half is struggling to make sure we have enough to last. We’re not behind on anything, the DMP is still chugging away (exceptionally slowly), but at the end there is always nothing left over, and nothing to ‘show’ for it (and I like minimalism...there is no buying of ‘things’. Except books. And good coffee. More on this later). 

How can I claim to be ‘on top of my finances’ when I am most assuredly...not?

Ultimately what money buys you is financial freedom, and it’s the continual bad habits and “I’ll get on it properly next month” mindset that are keeping me from this. It’s frustrating and annoying and, dare I say it - a bit stupid really. 

One of the biggest reasons I’m so cross about this is because I want to change my career path, and what I want to do may involve moving (which is fine). But I wouldn’t be in a good financial position to do that if the opportunity came up. I’m stuck. I hate being stuck. Hate it with the fire of a thousand suns. And the worst part is it's a stuckness of my own making.

Anywho, that’s enough of the pity party for now, let’s look at some numbers shall we?

Currently in the Bank 

£78.97

Which, considering the fact that it’s barely halfway through the month is...pretty shocking. 

The Debt

SafetyNet Credit - £105

Zopa CC - £200

Capital One CC1 - £261 

Capital One CC2 - £262

Halifax CC - £520

Nationwide Overdraft - £1615

NatWest Loan - £12390

Nationwide Loan - £14599

Total Debt: £29,952

The sad part about this is when I looked at that total my initial reaction was “well at least it’s under £30k”. What? What???

The Savings

Zero. Nada. Zilch. I got nothin’. 

And you know what this says to me? I don’t care about Future Me. Even worse - I don’t care about Current Me because I don’t even have Emergency Savings. 

So yes, changes are afoot. Ch-ch-ch-ch-changes.

B&C xo

Next time on Good With Money: The Financial Goals

doingitanyway

Good luck. I'll be following your journey
Edited to say books and coffee are probably my favourite things...

WinterWarrior

Oh good luck...another yell out for books and coffee! I have an Amazon subscription for coffee beans, which is the cheapest I’ve found (if that helps).
I don’t have a DMP, but other than that your post is pretty near to the one I just started...where are my savings and why am I broke on the 14th was pretty much the gist of it! It will be lovely to cheer each other on. 🤩

Onebrokelady

Just read your first post and like your style of writing so will be subscribing to see how you get on. I love books but not fussed about which coffee I drink, I do only drink Rooibos tea though as black tea tastes bitter to me 
Good luck with your diary and developing some frugal ways 😊

moneyonmymindsam

Hello 

Just come in to quote 
"Currently in the Bank 

£78.97" and that's 78 times better than nothing 

Good luck on your journey 

Sam 

elbree

Hi @booksandcoffee! Congrats on your new diary - what are you planning?