Debt and Budget (Reset) plan

shell16

An update from me

Counter upper duties completed on the PAD thread, unfortunately I cant make my own PAD today as I only have £3.35 cleared on Prolific and £4.48 pending.  Hopefully some of those surveys will get authorised today so I can make a further payment.

Usual WFH day today, Dentist appointment later this morning but other than that should be a NSD.

Checked Loan and next payment due 20th April, only 8 more payments to that then gone for ever!  Last payment is November so will be able to use that usual payment of £385 towards either debt or cost of living increases, or both which ever I decide that cash will definitely find a good use.

My affordability score on Clearscore has increased to 91 which is up 7 points from last month, credit utilisation  is 17%, so all positive moves in the right direction.  Credit score on Totally Money still at 637 out of 710.

Thats about all for now
Shell x

shell16

@EssexHebridean it certainly was a very nice surprise.  As I didnt have to raid my weekends away pot, we have another weekend coming up towards end of April, so a bonus getaway!  Hope you are ok?

Shell x

shell16

Happy Friday!

Counter upper duties completed on the Payment a Day Thread.  Haven't been able to do a PAD today as I have nothing in save the change and only £1 cleared on Prolific with over £4 pending.

Did shopping today and spent £60 and have £58 left in my grocery budget to last until next Wednesday as I get paid early this month due to Bank Hols.  Have noted the Child benefit amount hasn't been included in this pay check period as due on 14th when I get paid again so effectively £140.60 down this month.

So I have had a little play on the snowball calculator as I really do want rid of my debt sooner than Feb 2024.  My loan gets  paid off in November 22 so from December will be £385 better off a month.  My minimum payments on all 3 credit cards comes to £108.71 but my regular payments are £282.75 which is an overpayment each month of £174.04.  I usually make additional PAD payments during the month no less than £25 but usually more.  If I carry on with my payment of £282.75 and an additional overpayment of £25 my DFD would be Nov 23 and If I pay an additional overpayment of £50 my DFD would be October 23.  That's not taking into account the extra cash which will be freed up from December, . Although that cash has been given a job to do from December I may use £100 to put towards additional debt payments  I am going to give myself a target DFD of July/August 2023, I think it will be doable even with Cost of living increases based on the additional freed up cash.

Anything left in my pots before I get paid will be transferred to my EF as I will have £150 in that pot next week plus anything carried over.

Have a great Friday and weekend!
Shell x

GeorgianaCavendish

I remember how good it felt being in the last 12 months of my loan - every month is one step closer to freedom! 😊

shell16

@GeorgianaCavendish it certainly is a good feeling being on the last few payments, thats one chunk of debt rid for ever from November!

Thanks for posting and keeping in touch!
Shell x

shell16

Morning All

What a thoroughly miserable day it is outside, raining and windy!

Quick update form me, Half day working so off this PM, do have to venture out as seeing my elderly parents with my daughters, I have roughly half a tank of fuel and still have £25 in Petrol Pot to last until payday on Thursday.

Managed a PAD today of £7 from a prolific cash out and paid towards my Lloyds CC balance which is good as I haven't made one in the last few days.  Counter upper duties completed on the Payment A Day thread.

I'm pretty sure that I read the child benefit payments wouldn't be happening until after I got paid this month as early due to bank Hols but its popped into my account today and a small increase too, instead of £140.60 now £141.70, so that's a bonus and a help towards my spiralling balance towards zero!

Need to update my budget book on my spending last week and transfer any cash I can from my pots to counter the spends. (I do need to get better with this, and update at the end of each day - Note to self!)  Anything left in those pots will either be left as an account buffer or will go towards a final extra PAD payment, before my account looks healthy again on Thursday morning! 

Regarding my April pay, this should be good as I have my pay increase (albeit its a paltry one!) and my Annual Incentive Bonus payment which I always use to pay for our main summer holidays and includes all spending, so we see it as a free 2 week holiday.

My daughters have another week off until next Tuesday then back to school.  I need to buy some new school shoes today for eldest and a new school bag.  It has to be a handbag, no rucksacks!  The joys of being a nearly teenager keeping up with the fashion!  I do have around £50 in my clothing pot so no extra spend necessary.

That's about all for now, thanks for reading.
Shell x
 

shell16

Morning All

Just a quick update.....Counter upper duties completed on the Payment A day thread, no payment from me yet today, have £1.70 cleared on Prolific and over £6 in Pending.  Once cleared will be able to make another payment.

Payday tomorrow and cant wait, still need to update my budget book with all spends from last week and those made so far this week.  Busy time working this morning, but will attempt to update during lunch.  Hopefully will have some surplus in the pots, if so anything I have I will likely make a PAD payment, so in my best interests to complete this task....today!

Nothing much more to report other than I have nearly 10% saved in the penny challenge.  A bit more difficult for me as I do not use the cash envelope method when budgeting so rarely use cash.  Its still none the less a bonus!

Thats about all for now.
Shell x

shell16

Afternoon!

Completed all spend tracking and transferred all cash I can into current account from my Starling account.  Managed a PAD payment of £52.50 to Lloyd's CC so really happy with this, I'm glad I have spent the 30 minutes or so closing off the March budget, and this is what I had left spare.

New budget month tomorrow as Im paid early due to Bank Hols, all projected spending completed for April in my book and tomorrow I will be busy transferring back to Starling pots to top up for the next month. 

Will check in again tomorrow with further update.

Shell x

shell16

Morning

Last day until a long weekend which im looking forward to, although I do feel a little poorly today, bad headache, feeling nauseous, and a tickly cough.  Really hope this is not covid. 

Counter upper duties completed on the Payment A Day thread, no further PAD for myself yet, but still have pending amounts on Prolific with £3 cleared.

Payday today, moved my bonus payment to savings for main summer holiday and transferred to Starling to fill up my pots for the next months budget, with remaining cash from my pay and my DH pay (Due next week) to stay in my current account for all regular bills   I need to go grocery shopping today as we are quite low on everything.  Also still need to get my eldest some school shoes so will likely do both of these things today.

Shell x

shell16

Update - PAD payment now made to Lloyds CC of £5.39 from Prolific cashout.  Have nearly £10 in pending again so as soon as that clears or enough for cash out I will make another payment.

Been shopping but only a small shop of just over £20 as I went during my lunch hour.  Still need a good shop for grocery.  

Feeling a little better, taken a test at home and its negative so I think I may just have a bug or something. A good cup of Yorkshire tea has done the trick!

Shell x