Debt and Budget (Reset) plan

shell16

EssexHebridean said:

OK - honest question. If you've dipped into OD this month should the PAD's not stop until more income goes in? It's probably the case that you have it all under control - but as much as anything ese for others reading this in the future it makes sense to clarify how things are working! 

Thanks @EssexHebridean, this is a valid question to ask.  In this case I do have it under control, I know the reasons for dipping into my overdraft (Cost of living is one of them) but I have adjusted my budget going forwards.  I usually put quite a bit into long term saving 'Pots' which I have adjusted the amounts to a lower level.  

Of course if I didnt have this to fall back on, I would completely stop the PAD payments until the overdraft is repaid.  Im quite lucky in that it is only £35 BUT if it was more, I would have to think about things differently.  Its different strokes for different folks....everyones situation will be different, the principal is the same.  If you are able to clear overdrafts etc then this is priority.

@EssexHebridean, you do keep me on the straight and narrow! 

shell16

Morning and Happy Friday!

Day off today and such a lovely sunny day, Payday too!  Various payments made totalling £905 already made so this is my PAD payment.  

Budget has been revamped in that I have increased some categories - Grocery, Fuel for cars and Utility bill for gas and electric.  Have a buffer in the account of around £50 for anything unexpected. Paid £300 to my sofa and now £600 left to pay before delivery which is absolutely doable (Combination of Budget and Bonus which is paid next month). 

Also added £75 to EF as this was used up last month to pay for a new washing machine, so need to get this back to £500 as soon as I can.  Holiday savings are coming along nicely for our trip to Cornwall at the end of May/beginning of June, next month will need to see me pay balance on that Holiday of £173, so this will come out of next months budget.

I also now have the fees for our Motorhome storage of £420 thanks to DD free Council tax last/this month, so as soon as we know how much this will be (hopefully will not get increased from last years amount) I can also pay that too.

Im having some issues with my Dental Insurance in that the large amount of cash I had to pay (£600) has still not been paid.  I have now submitted a complaint and hopefully this will be sorted soon.  Not sure what Im going to do with that when I get it.  With Cornwall and summer holidays to pay for in June/July for our Scotland Trip, it may go towards those.  

Thats about all for now, have a great day and weekend!
Shell x

shell16

Hallelujah!

My Dental claim has now been authorised!  I am now eagerly awaiting payment which turns out to be £800 as they didnt pay something else which I didnt realise....im not sure how I missed that!  This is going towards paying for my sofa which I have £600 left and other £200 will be split between Holidays and EF.

Today is turning out to be a good day!

EssexHebridean

That is a good day - good that the extra bit of payment got picked up on too. 

I think we're all going to have to review our budgets for general cost-of living stuff. Theoretically the extra £50 I've been stashing into our "energy buffer fund" should be more than enough so that *should* start to run at a bit of a surplus with luck. Running the cars is just getting more and more expensive though, and there's little we can do to reduce that as we already drive with a conscious eye to economy, don't carry unnecessary "stuff", and try to shop around for fuel. 

shell16

@EssexHebridean

I've now received my payment so really happy 😊 

I have just had to fill up my car £96!  I'm just going to try little top ups now as who knows how long this fuel crisis is going to last for! 

shell16

Good afternoon All

Payments made this week include my loan and now very near to breaking the next thousand which is visually very motivating indeed! I have also managed to make some additional PAD payments from Prolific, which is being very generous at the moment, and Save the change.

Regarding Prolific I have today completed a survey which will be paying out just over £14 for around an hours 'work' so Im also happy with this too.  £1.50 cleared and a further £5.80 pending so just over £20 when all clears.  This will be used towards Lloyds CC.

I have paid off £2730 this year in debt against target of £8000 so around 34% paid.  All going in the right direction.  My usual CC payments to Lloyds and Virgin will be in first week of April, and my Sainsburys payment will be around 28th of this month so again will drop the figure overall to a very nice level 

Not much more to report really so will leave it there!
Shell x

Sunshine_girl2

You are doing so well, that debt will be gone for good before you know it. 

GeorgianaCavendish

Great work! Excellent news about your claim being paid in full - that is a real help. 
 
I think I did the same survey on Prolific today - looking forward to that payout! 

sunshine_raincloud

Amazing progress! You sound very positive and motivated!

shell16

Thankyou @Sunshine_girl2 and @sunshine_raincloud for the comments, I am really happy with progress, slow and steady wins the race.

@GeorgianaCavendish, Cant wait for that pay-out, didnt think it was too bad in all honesty, quite an easy task (except my wifi did start to play up a little with all the waiting!)