Debt and Budget (Reset) plan

shell16

Thanks LMD, thats a great one to go to after this diary.  I have just taken a peak and that thread looks like its right up my street!  The MFW board is something I want to look at but I think my priorities need to be with funding everything I need for the various categories I have first.  I also wish to start funding a 1 month ahead category, then ultimately to 3 months ahead, in addition to getting my EF to £1000.

There is so much to think about, and in all truthfulness Im a little blinded by what order I should do things that I want save for.  I still of course have a little while to think about those things!

Edit
So I have just spent some time going through what I want to do and what I need to save.

My Fixed Expenses are around £1945 a month
Variable Expenses £1010 a month (£1150 on a 5 week month)
Annual Savings £180 a month (£225 on a 5 week month)
Variable Savings £300 a month (£375 on a 5 week month)
Long Term Savings £208 a month (£260 on a 5 week month)

This should leave me with £865 left or £550 on a 5 week month.

1st goal - Save £3000 for our bedroom - Will achieve by August 2023
2nd Goal - Save £1945 which is 1 months Fixed Expenses - Will achieve by October 2023
3rd Goal - Save £5000 for our Kitchen - Will hopefully achieve by May 2024
 
Shell x

LittleMissDetermined

It’s great that you have those goals in mind already and I’m certain I will see you over in the savings diary section. I will still be subscribing to debt free diaries though to offer support where I can. 

I will have similar steps; rebuild the £1000 EF, then build £10k as a 3 months wages buffer. 

shell16

Morning

Last night was one of those nights where I just couldnt settle.  I think all is now coming to a head in terms of nearing debt freedom. 

I have so much going on in my mind and I cant seem to switch off as im not there yet!  I cant believe I will be debt free next month! It just doesnt seem real and im repeating someone elses words who in this position, its a really strange feeling!

I have sent a small PAD of £2 to Sainsburys today and I have £9.57 cleared on Prolific and £11.30 (Plus missing £5.10) Pending, so cashed out and sent £9 to CC and 57p to SPC.

I completed my Budget Planner yesterday and realised im not actually in work until next payday due to Teachers Strikes and holidays, so I will be sending the remaining £26 I have in my Starling Pot for work travel to Sainsburys also.  My final payment has now reduced to a minimum of £263 from £306 yesterday.

I think thats all for my ramblings today!
Shell x

LittleMissDetermined

Oddly I have had some restless nights myself lately and it may be for the same reason. I hope you can settle soon and get back into having restful nights.

As the originator of that phrase I don’t want to be the reason you’re not sleeping 🤔

Good use of the travel money. I hardly ever go into the office these days, probably once a month… not sure I can do much more in terms of boosting my payments though.

Always here to support you Shell, it’s nice that we are coming to the end of our debt free journeys at the same time.
LMD x

MissPennySave

You are both so close now, I mean if you need to live in the life of debt afterward feel free to live vicariously through me!  I'll be here for a while yet 

shell16

Thanks @LittleMissDetermined and @MissPennySave

LMD - No you are not the reason for my restless night.  I think I had so much on my mind yesterday and was probably trying to organise too much for freedom day

MPS, you are doing so well yourself, credit where its due!  over £3K paid since November, thats going some!  It will happen for you, and literally before you know it as I know from my experience now.  At the beginning of January, I had £2666 and now im below £1K just like that!  Keep going, you are doing great!

Shell x

shell16

Morning

Thankfully its Friday!  Phew what a week Ive had already!

Its cash envelope reset day for me and Im thankful for having £31.47 left.  Sent £5 to my monthly challenge (Save £50 a month and already have £115, so added £15 already to the month of March), £6.47 to penny savings and finally £20 to the EF.  Im so glad I have moved to cash for various categories.  Its accelerating my savings which is good and Im trying to adopt good habits going forwards.

With regards Prolific, I heard back and they state its been paid, I know for a fact it hasnt, so im now stuck!  Its not 30p its £5.10, how on earth can I prove it?  I have £4.80 cleared so close to another cash out today - hopefully, and £10.50 pending. 

A quiet day for updates here.....other than 46 days to go!! Going to make a quick brew and start work!
Shell x

LittleMissDetermined

46 days... They're flying by!

SusieT

Are you able to print a statement from your account? If not would a screenprint show that it has not been paid? Perhaps ask them to show you on your account where it has been paid, since it is not showing for you?

shell16

Morning

I have had some great news!  A cost of Living payment that I thought I would not receive due to salary will be now given to me.  I work Part time  - 30 hours and so Initially it was based on Full time equivalent Salary.  As I earn under this due to the hours I work, my work have now agreed to honour these payments!  I will be getting £1000, in my March salary  Im so flippin chuffed in view of the lower bonus I will be receiving in April due to the Company posting an overall loss (Part of company I work posted a profit). This means I can now pay for my summer holiday in full! 

I could use some of this payment to send towards my debt and be debt free sooner, I will be £685 better off a month once I finish paying off my debt so I could easily get that cash together to pay the summer hols?  I will have to crunch some numbers and check.

On the prolific front, the survey that was agreed but no cash received.  @SusieT.  This has been noted as paid on my account but i definitely haven't got it.  The survey itself is noted as paid.  I think I will have to accept this is a lost payment
On the plus side I was awarded a £3 bonus on a survey last night so I have managed to cash out today £7.80, which i have sent £7 to Sainsburys and 80p to SPC.

Im off to see mum today too.  Cant wait to see her, but just logged on work system as I have a report I need to finish off for Monday morning.  So as soon as Im finished I will get sorted and head over.

Have a great weekend everyone!
Shell x