24 months to debt freedom

CL21

A NSD today which is a small win for a relentless spender. Was just reading Foxgloves diary about her husband previously buying yellow sticker items ‘because they’re a bargain’ - guilty as charged 🙋🏼‍♀️  Sometimes I think it’s just that feeling of buying something (I do know how insane that sounds!) and because I absolutely love getting a bargain. 

DD is still off school but will be returning tomorrow. Been quite glad not to have to do the school run in this weather. A week on Saturday we’ll be on the Liverpool ferry which is an 8hr journey so I really hope this is the last storm for a while! 

Otherwise I’m just wishing the days away until payday - is everyone like that when they start a new budget?! Really want to get my emergency fund filled up and then start the debt pay off in earnest 

joedenise

@CL21 I think we're all like that when we first put our minds to sorting out our budgets.  Even now after getting out of debt and paying off the mortgage I still like getting the money in and sorting it out into the various pots!  While it's important to get your emergency fund together don't forget all the other pots and a bit of fun money; after all life is for living as well as getting debt paid off.

CL21

Very true - good advice. I think that’s where I’ve gone wrong before - a bit too intense with debt payoff and no living. I think the separate spends money will help a lot and I’ve also automated the money into the various pots (including the two new ones 😉) so it’ll all go out day after payday

EssexHebridean

Balance was the reason I never quite settled on the MFW board when we were paying ours off - we were determined that it was never going to be an “every last penny” thing, and that there would always be fun and enjoyment in there too. At the time the MFW board regulars were very much of the “once the mortgage is gone we can have fun” mindset and there was a lot of raised eyebrows when I referred to saving for holidays etc. 

I also think most of us have been there with the YS’d stuff. These days I try to stop and think whether I would have bought it - or an equivalent - at full price, and also whether the saving being given is worth it. If the answer to both is yes, I’ll likely grab it. T’s can get over themselves thinking 20p off a £2 item is ever going to persuade me to make room in my freezer for it! 

LittleMissDetermined

CL21 said:  Sometimes I think it’s just that feeling of buying something (I do know how insane that sounds!)

I can completely resonate with this! I have even been guilty of buying things for the feeling of buying and then returning the items. It's not as insane as you think, I promise

CL21 said:  Otherwise I’m just wishing the days away until payday - is everyone like that when they start a new budget?! Really want to get my emergency fund filled up and then start the debt pay off in earnest 

This is entirely normal when you get the MSE bug. The key is to keep up the momentum until you've reached your goals.  I have fallen off the MSE wagon twice before (regretfully) and I'm now on my 3rd diary... Wish I'd never stopped MSE-ing, I would be debt free and have savings a-plenty by now.  But if we don't make mistakes, we don't learn.  I definitely agree with @EssexHebrideanthat there needs to be balance so you don't feel like you're missing out on fun and the occasional treat.

In terms of where my debt was at my LBM (this time!) it's a marathon and not a sprint so I know I'm in it for the long haul (unless there's a miracle lotto win)

LMD x

Blackcats

Completely agree with the other posters.  Keep going steadily but have some fun on the way too.  I give myself £100 a month personal spends money and deciding what I want to spend it on, guilt free is wonderful.  It focuses me but also I'm amazed how much £100 is - I've obviously spent loads more than that to build up the debts I had but didn't understand the value of that spending or enjoy it as much as my personal spends now.
I agree with EssexHebridean too - I don't have any debts now but the mortgage free wannabe board felt a bit intense for me and I've recently popped onto the pensions thread and that really intimidated me!  Vast pots of money and such knowledgeable people - I shall read along and learn but I think this DFW board is where I'm best suited.  

You will get lots of advice, support and encouragement from us reformed/reforming spenders.

CL21

Ah thanks so much @EssexHebridean @LittleMissDetermined @Blackcats - appreciate you making me feel normal especially about my crazy buying habits (that I honestly thought were completely normal!) 

You’re all so right about there needing to be balance and the ‘marathon not a sprint’ analogy absolutely sums it up. That mindset change is so important! 

Know what you mean about a small amount on money suddenly seeming loads @Blackcats. Maybe because it’s much more mindful spending? And once that money has gone, it’s gone! 

CL21

Blackcats said:

Completely agree with the other posters.  Keep going steadily but have some fun on the way too.  I give myself £100 a month personal spends money and deciding what I want to spend it on, guilt free is wonderful.  It focuses me but also I'm amazed how much £100 is - I've obviously spent loads more than that to build up the debts I had but didn't understand the value of that spending or enjoy it as much as my personal spends now.
I agree with EssexHebridean too - I don't have any debts now but the mortgage free wannabe board felt a bit intense for me and I've recently popped onto the pensions thread and that really intimidated me!  Vast pots of money and such knowledgeable people - I shall read along and learn but I think this DFW board is where I'm best suited.  

You will get lots of advice, support and encouragement from us reformed/reforming spenders.

Forgot to say that there’s a great guy called Pete Matthew who runs Meaningful Money - he’s got a book and also does great YouTube videos - which has great advice on pensions and investments (he’s a real life financial adviser) I got his book because he also talks about debt payoff but his other videos are great and easy to understand x

CL21

A quiet couple of days there, just getting my head down and as much work done as possible to clear up before Christmas. DD went back to school on Thursday and seems to be fully recovered so hopefully that’s all of the illness out the way before Christmas! 

We’ve got a small party tonight which is an annual thing we do with friends and is one of my favourite Christmas traditions. There’s loads of kids between us and they love it too. Nice to make memories for them. There will be lots of Prosecco drunk - I like to put gingerbread syrup in mine (Nigella idea I think 🤔)

Then one more week and we’ll be heading to mum and dads for Christmas (I hope!). Boris scuppered us at the very last minute last year so I’m hoping there won’t be a repeat of that! We’re taking the ferry to Liverpool which is 8hrs but the alternative is a 6hr drive from Cairnryan - plus ferry - and I don’t feel confident doing that in winter. Bit nervous about the dog being in a kennel that long as she hates being cooped up anywhere. Any suggestions for how to make this easier for her gratefully received! 

In money saving news, I’ve been doing the PAD this month and saved almost £50 into the baby EF already 🤯 In news that will be a shock to nobody except me - small amounts really do add up! I finally sent off a cheque for £10.80 that had been sitting in my office for months (refund from HMRC) and have a parcel to send back to Amazon today which will be a further £12.99 back. Both will go into the EF. Previously I wouldn’t have bothered sending off the cheque (with Monzo so has to go by post and takes ages) and wouldn’t have bothered getting a refund either. I really don’t know what I was thinking! 

EssexHebridean

Best suggestion I can offer with the dog is to get a couple of small blankets or hand towels and take those to bed with you for a few nights each in the days before. Seal each into a separate plastic bag and give to the kennels staff when you take dog in - 1 gets unwrapped immediately and goes straight in with the dog when she goes into her kennel, the second is put in at the halfway point so she has a “fix” of something that smells of “home” - the theory is that it helps to reassure them that they’ve not been abandoned. 

Great work on your PAD’ing there - and yes, this is NOT news to me! 😆