New job, new start!

Allikat86

Hi all, thanks for reading!

I had a diary on here for a short period of time last year, but a lot has changed since then, so I’ve decided to start again! 

I recently moved jobs after a big promotion - still waiting for my first payday later this month as I moved organisations to get it. My wage has gone from 32k to just shy of 48k. I don’t think that I’ll quite believe it until it hits my bank later this month!

I’m a single parent of 2 kids under 10, who live with me full time. 

I have gone from no debt to £3.8k on 0% for the next 2 years following some house renovations. I have £1.5k on my regular credit card because I’ve needed to stretch my wage across two months (some of that is ‘nice’ spending, like a mini break and a new grill! But it’ll be mostly paid off after payday later this month). I’m not stressed about this as I made conscious decisions about what I purchased and when. No car loans etc. However, because I left my old employer I have to pay back some training costs. Again, I made this decision as part of long term strategy - the training costs remaining are £2.6k and they’ll contact me to arrange a payment plan. 

I’ve traditionally always felt guilty for spending any cash, but I have now bought everything ‘big’ that we needed in imminent future. We’d like to move house in a couple of years, but I’m confident that I can clear all of this with frugality prior to then as no further massive purchases planned now, I’ve got it all out of the way!

I’m planning to do an SOA when my new wage comes through. I’ll get a couple of weeks back pay with this pay packet, so I’m planning to clear my £1.5k credit card later this month.

Allikat86

Today hasn’t been spendy - sent £50 to my Help to Save, on target with total of £700. Also found a receipt in my car which reminded me that £200 odd of my credit card debt was on tyres a few months back! 

I usually like to tidy my ‘spare change’ on my online banking at the end of the day, but I’m being careful with cash at the moment because of the stretched wage. 

I’ll do a proper SOA when I get my wages in, but I’ve worked out my take home pay with the Listen to Taxman site so I know roughly how much I’ll get per month. With student loan deductions/lower pension contributions in this job my usual monthly pay should be £2709 per month. I’ll be finished with student loan in 4 years, though, which is half the time it would’ve been in my old job, so fingers crossed that I do well in this one! I wanted to make sure that I’m not reliant on maintenance for the kids in any way as this can be subject to change without any real notice…

Really happy but it’s a nervous time too, having proper imposter syndrome in my new role!

WinterWarrior

Good luck Allikat. Imposter syndrome stays with me day in, day out. I think most women have to fight it.
congrats on your new job and good luck. 

Allikat86

Thanks WW - I’ve talked to other women too who have said similar. Really helpful to hear your experience too. It’s the first role that I’ve had that I’ve really felt that way, but I’m just focusing on the reasons that they hired me and working hard to understand my new organisational structure. I’m sure that I’ll feel more settled in a few months! 

Allikat86

Today was a bit of a spendy day - I’d promised the kids a specific gift each for their reports. We then bought some books for our mini break in a few weeks. Planning a low spend day tomorrow, as we are going to a park with some friends and taking the dog for a long walk - we just need to get supplies for school lunches. First new job payday in just over two weeks, so I’m looking forward to seeing how it’ll pan out given the rise in NI etc.

Allikat86

Just bought weekly shop from Aldi today, things have gone up so much! Other than that we’ve just been to the park/watching a film/chores so it’s not been too bad. Planning several NSD this week. 

Allikat86

Thought that I’d add this as layer of accountability whilst I wait for new payday. Forgot to add before that we are away with parents (as one off) on big holiday in Oct. Dream of my mum’s after a difficult time for her with health in last couple of years.

May 2022

Debts:
CC1: £1500 
CC2: £3689 (0% until May 2024)
Training costs £2666 (awaiting invoice - payment plan TBC)

Savings:
Help to Save £700/£700 - first bonus due April 2023, second bonus and closure due April 2025
Emergency fund £120/£1000
Holiday spends £0
Tilly tidy £4.78 (reset this month after very long April/May!)

Mortgage:
£130k - current end date 2045