Debt and Budget (Reset) plan

rugbymadfamily

Nice work on the overpayments and the financial planner, sounds like great progress being made. I love having "pots" but I would say try not to end up with too many or it can make things trickier, it's a balance between enough to tuck money away for future expense but not so many that you end up with loads! For example i have one for the car annual expenses, I put enough to cover insurance/ tax / MOT / service and some repairs into one big car pot. But I keep petrol in a separate pot as that's an ongoing expense....anyway, got to find what works best for you, that's just an example!

shell16

rugbymadfamily said:

Nice work on the overpayments and the financial planner, sounds like great progress being made. I love having "pots" but I would say try not to end up with too many or it can make things trickier, it's a balance between enough to tuck money away for future expense but not so many that you end up with loads! For example i have one for the car annual expenses, I put enough to cover insurance/ tax / MOT / service and some repairs into one big car pot. But I keep petrol in a separate pot as that's an ongoing expense....anyway, got to find what works best for you, that's just an example!

Thanks for that, Ive got around 4 set up at the moment and limiting to just yearly expenses.  I guess I could easily go for lots, I do like the idea of having a pot for larger expenses etc   

jusferbrowsing

Hi, I've just binge read your diary and you are doing amazingly well.
I read a lot though don't post often but know I'm quietly shaking my pom poms in encouragement for you.

shell16

Aw Thankyou!!

londoner2019

Great progress!

shell16

londoner2019 said:

Great progress!

Thanks Londoner. I'm determined to sort my debt out this time!!

Sunshine_girl2

Paper and pen all the way for me . I have a spending diary and a monthly payments list for every month in my accounts book. Kids laugh at me when they see me with it . 

shell16

Haha! I seriously can't wait to get my budget book tomorrow 🤗  I get paid in 2 weeks so going to start working through tomorrow evening on completing my zero balance budget woohoo!!🤣🤣

shell16

Thank Goodness its Friday!

My new budget book arrives today, cant wait! 

Ive decided Im going to summarise my week on a Friday, and list totals so I can look back through my diary for motivation.  The signatures are good but are a reflection of the debt now, not through the journey.

In terms of finances it has been an ok week for me, im half way in to my pay this month. It’s been a good week in terms of finances 
* Only spent train fare/car parking on 1 day into work, got took out for lunch by a customer we deal with!
* PADing too which keeps chipping away at that CC2 balance, Next usual payment is due out Monday of £105, so will have around £50 until I drop below £1K mark....Yay!!!
* Bought some Christmas presents out the money I have been saving since August
* I have some vouchers I have received at work which I had forgotten about totalling some £225, so will use those too for Christmas presents!
* Im completing 1p challenge too, and have £7.46 so far.  Just checking off the big days at the minute.  If I stick to it should have just under £670 to put towards Christmas 2022.
* Reading lots of new comers diaries and trying to at least make a comment cheering them on if I cant offer advice

CC1 - £495/£0 - Paid off 04/10/2021
CC2 Limit £3700 - £2146.94/£1158.13 (46% reduction)
CC3 Limit £15000- £5654.40/£5892.21 (4.2% increase)
Loan - £6001.33/£4541.39 (24.3% reduction)
Total = £13801.67/£11591.73
16% Reduction since August 2021

Thats about all for now

enthusiasticsaver

Enjoy your new budget book.  Have you thought about rounding down when you do your PADs?