24 months to debt freedom

CL21

Aaagh. Work have only paid 1 set of expenses. Have just emailed them to find out why as they were both authorised at the same time! Budget rejigged to take this into account and if they do pay them by BACS then I’ll add to my EF. Have made payment to CC2 and will make the overpayment to CC1 later today which will take me down to next £k bracket 

On the positive side, all pots are funded for the month with budgeted expenses and I have a proper plan for my money for once! 

joedenise

I’ve been doing a zero based budget since 2014 and don’t always get it right even now but definitely much better now than it was back then

enthusiasticsaver

CL21 said:

Payday - finally! And the Northern Ireland energy payment is showing as due to come into my account tomorrow although Monzo will let me take it at 4pm today 🙌🏻 This will be mostly added to my emergency fund and a small amount to the fund that pays for school expenses (didn’t budget for the ‘leavers hoodie’ that’s now obligatory in final year of primary 🙄) 

Other than that unexpected bonus, all pots will be filled as planned. A bit nervous that I’ve forgotten to plan for something - does anyone else do a zero based budget? How long does it take to get right? 

I don't do a zero based budget any more but have done in the past. It is too rigid when there are 2 of us spending from the same pot and my husband is not a budgeter.  I just have flexible pots now.  Cars, house, holidays and gifts which covers pretty much most things.  What is left is spending money for food, fuel,  entertainment and a personal spends accounts for each of us.  

Never heard of a leavers hoodie?  How is that compulsory?  Honestly you would think schools would have more sense than to impose such things given the current cost of living crisis. 

CL21

joedenise said:

I’ve been doing a zero based budget since 2014 and don’t always get it right even now but definitely much better now than it was back then

Thanks - good to know it gets easier! Think I’m just nervous of running out of money but if I need to can always move money around pots when I’m finding my feet. Think the biggest change for me will be cash envelopes for food and ‘fun money’. 

CL21

enthusiasticsaver said:

I don't do a zero based budget any more but have done in the past. It is too rigid when there are 2 of us spending from the same pot and my husband is not a budgeter.  I just have flexible pots now.  Cars, house, holidays and gifts which covers pretty much most things.  What is left is spending money for food, fuel,  entertainment and a personal spends accounts for each of us.  

Never heard of a leavers hoodie?  How is that compulsory?  Honestly you would think schools would have more sense than to impose such things given the current cost of living crisis. 

Thanks @enthusiasticsaver - I think when I’ve managed to save across a few categories and paid down more debt I can be more flexible. Can see how it would be tricky to manage with two! 

Re the hoody, it’s v annoying. They’ll wear it for five months max. Not sure if it’s an NI thing? £23 as DD needs an adult small (largest child size is 12-13 and she’s in 14-15 clothes - age 11!) so it’s a £5 supplement 

EssexHebridean

I've seen children in the leavers hoodies - I think it started with senior schools and has trickled down perhaps then, probably with the younger ones wanting to do what the older ones do. It's outrageous that it's compulsory though - and especially when the age of the kids concerned means it will be grown out of relatively fast. It's that sort of thing, along with expensive "Proms" that need to be got rid of in my view - it's just too divisive and creates "haves" and "have nots" - while they always existed, I think they were less obvious years ago. 

The budgeting thing - I work things so that everything that goes to the "pots" and regular savers etc goes out at the start of the month, and there is a cushion in the joint account that means we have flexibility on things like fuel for the car and other travel - as that's needed. Any surplus always gets moved to clear into some form of savings though - frittering ain't happening in THIS house! 

CL21

Heard back from payroll - they won’t pay me the rest of my expenses this month as it’s gone through on the wrong pay period so will have to wait until next month. It’s not the end of the world, I’d already rejigged my budget to account for it so will just consider it extra for next month. 

On a positive note, my electricity bill is only £16 this month - I have no idea why, SSE are super random with their direct debits - but will consider this an extra £30 to put towards the CC. Will add this over when the DD comes out so I’m sure it’s right. 

Dinner tonight is jacket potatoes with the defrosted pulled pork from the freezer. Cooked extra jacket potatoes and will have them for lunch tomorrow with some cheese. Food shopping will be done tomorrow once I’ve done an inventory of the cupboard. Literally no clue what’s lurking at the back!

CL21

EssexHebridean said:

I've seen children in the leavers hoodies - I think it started with senior schools and has trickled down perhaps then, probably with the younger ones wanting to do what the older ones do. It's outrageous that it's compulsory though - and especially when the age of the kids concerned means it will be grown out of relatively fast. It's that sort of thing, along with expensive "Proms" that need to be got rid of in my view - it's just too divisive and creates "haves" and "have nots" - while they always existed, I think they were less obvious years ago. 

The budgeting thing - I work things so that everything that goes to the "pots" and regular savers etc goes out at the start of the month, and there is a cushion in the joint account that means we have flexibility on things like fuel for the car and other travel - as that's needed. Any surplus always gets moved to clear into some form of savings though - frittering ain't happening in THIS house! 

Ha ha - love that certainty!  The problem is I’ve been an absolutely terrible fritterer and, stupid as it sounds, without even noticing! When went through my actual spending, I wasted SO MUCH MONEY!!! Awful. I think I need the rigidity of a zero budget until I can be trusted with the cushion and I’ve got some regular savings going on. 

You are spot on with the haves and have nots and it’s made so much worse by social media, even at this age. It’s absolutely shocking what kids have these days and the awful things they say to those who don’t have the same. I don’t let DD have any social media and, while she’s not without anything, I also don’t agree with spending £100 on a pair of trainers for an 11yr old (her last pair were £10 ‘barely worn’ from vinted) so she definitely doesn’t have the same brands as some kids. Even that seems to be a reason enough to be bullied these days sadly 

CL21

Well that was a fun start to the weekend. Supposed to be going on a work trip on 6th Feb however it’s been booked with Flybe! Quickly rebooked this morning with EasyJet but it’s from a different airport which is further away. Thanks to the new ‘work expenses’ pot this is more of a minor inconvenience money wise although I could have done without it as the pot is now empty due to already booking (non-refundable) parking at the original airport! Guessing we won’t be getting our compensation from Flybe for the cancelled December flight either! 

Other than that, today should be a quiet one.

MSE wins - One of my books sold on fleabay for £7.30 + postage so I need to post that today
SSE have also reduced my Gas dd to £98 (from £118) although I think it should be lower as I have significant credit with them 

EssexHebridean

Not having the right brands was an issue that lead to bullying right back to when I was at school unfortunately - that was around the time when the "designer" sportswear brands were first really coming to the fore - and the pressure to have "F1la this", or "L@coste that" was immense. Sadly there are kids out there - and always have been - who just want the excuse to be "the big I Am" as we used to refer to it - and it doesn't matter too much what the background is - they'll play the role regardless. I do feel that schools shouldn't be playing into this situation at all though - and setting in place something like the hoodie which people have to pay for does exactly this IMO as inevitably there will be some where the money just isn't there. 

SSE - is that electricity DD being reduced by the amount of the government £67 payment if they just leave that sitting on the account?