The Mental Debt Struggle...

LittleMissDetermined

Hey Keedie, just catching up and checking in. Hope you're doing OK?
LMD x

KajiKita

Also waves hello 👋 😊

KK x

Aimingforthegoodlife

Hope everything is going well! x

beanielou

You are very quiet. I hope you are well.  xx

Makingabobor2

Hope you're ok @Keedie

CoffeeSonata

@Keedie thinking of you, and hoping you are doing okay. 

Keedie

Morning all and thank you very much for checking in on me, it really does mean a lot to me. I've had a rough few weeks health wise, but I am getting over my flare up. And one of my sister's isn't very well and so that has caused a lot of anxiety, but things are being put in place to help her get better, so that is reassuring. She's going to have a long road of recovery ahead of her, but I'm just grateful that the doctors are all working together now to help her.

But I'm just very tired and a bit out of sorts, as the stress of everything started a hypomanic episode. I've managed to rein it in, but it's left me feeling very wired and agitated but extremely exhausted 😩.

But one silver lining in all of this, is that the last few days I've had a very long think about life and how fragile it is and what my priorities and needs are. I've realised that I need to live more whilst I can and not be so worried about things that are outside of my control or 'circle of influence' as one of my friends puts it.

That led me to working out a new budget, so that I can live more and not be so focused on debts or savings, but still being mindful of what is important finance wise. It's made me appreciate more of what I have and helps to not be so hard on myself. I had some pondering moments over the last few days and I realised that I actually have achieved a lot in the last 2 years. They haven't always been kind to me, as that's just life, but in amongst all of the stress and heartache, I've actually grown as a person and I've done a lot more than I've given myself credit for. So that's been a blessing to realise.

I have also reworked my debt and savings goals for 2024, which takes into account a change in financial responsibilities that I will have coming up as a result of a change in family circumstances. It's now also kinder to me, as I'm beginning to truly realise that I am only one person...

beanielou

Good to hear from you & that you are plodding on. Take care xx

Keedie

THE SUNDAY SUMMARY

(Week 12 ~ 24 March 2024)

Debt Regrets

Goal 1 - 100% repayment to Bank of Mum 3 (school fees) - due 1 April 2024
Progress Checker = £3,800/£3,800 (100% repaid)
🎉 Achievement Date = 24 March 2024 🎉
FINALLY cleared this one! I made the final £200 payment just now 💃🏽. It's such a relief to know that I don't owe my mum any more money. And it feels like I have closure over the whole school fees situation, and what led to this debt in the first place. I cannot even begin to describe how free this makes me feel. Even with having so much left on my Barclaycard. Knowing that my debt to my mum who is a pensioner, is all gone, and seeing the progress that my son is making academically and in life in general, makes me feel like we're finally on a new chapter... 🤗.

Goal 2 - Clear Barclaycard Plan 1 (£6,330) - due by 31 December 2024
Progress checker = £-178.43/£6,330 (0% repaid)
This is still on pause until April 2024, as once March 2024's direct is paid at the end of the month, it will leave me with this starting balance. 

Goal 3 - Pay £6,750 off my overall debt balance in 2024 - due by 31 December 2024

Progress Checker = £1,380/£6,750 (20.44% repaid)

Now that my debt to my mum is complete, I just need to concentrate on clearing the Barclaycard Plan 1 and as my son sells more stuff, clear the Playstation on my Argos Card, and then this goal will plod along and take care of itself.

Saving Grace

Goal 1 - Save £750 for my son's 18th birthday - due by 30 September 2024
Progress Checker = £100.08/£750 (13.34% saved)
I've still not designed the birthday savings tracker for this, but I have worked out how I can set aside £50 a month starting from 1 April 2024 towards this goal. Then the surplus money required will come from my matured Chase round ups account, that is currently £132.69/£150 target and that ends sometime in June 2024.

Goal 2 - Build a Buffer of £500 (homemade overdraft) - due by 31 December 2024
Progress Checker = £50/£500 (10% saved)
I've pushed the deadline for this back to 31 December 2024 as there was no real need for it to be in October, and it gives me more time to do things more slowly and in a way that is kinder to myself. I will save £5 a week from 1 April 2024 and then in May, increase to £10 a week. Any money from savings challenges or leftover money from any weekly category will then go in here.

Goal 3 - Save £2,000 emergency fund - due by 31 December 2024
Progress Checker = £200.32/£1,000 (10.02% saved)
I've halved this goal from £2,000 to £1,000. As I really want to complete the 50 envelope challenge and with a change in family circumstances, my outgoings are going to increase from August 2024. There's also a few things I have to pay for in the immediate future so I need to keep my overall expenses lower, and I still have my Help to Save account that I am paying into. I've set up a standing order from 1 April 2024 at £20 a week, and that will give me the remaining £800 over the 40 weeks from April to December 2024.

Goal 4 - Complete 50 Envelope Challenge (£1,275) - due by 31 December 2024
Progress Checker = 6/50 Envelopes ~ £175/£1,275 (13.73% saved)
I now have £25/£25 to complete that envelope. Then all accumulations will be for £50 as that cover the remaining envelopes with the next set of envelopes being 3 and 47 of which I have £0/£50 accumulated. So far I have £175/£1,275 saved/set aside.

Cherryfudge

I'm sorry to hear the last few weeks have been hard. I hope things are looking better soon.

You are sounding super-organised - congratulations on paying off the money to your Mum! That's quite an achievement, as is your son's academic work. You can be proud of yourself and your family.