The Mental Debt Struggle...

Keedie

THE SUNDAY SUMMARY

(Week 7 ~ 16 February 2025)

Debt Regrets

Goal 1 - 100% repayment to Argos Card - due 30 April 2025
🎉 Achievement Date = 7 February 2025 🎉

Goal 2 - Clear Barclaycard Plan 1 (£1,506.20) - due by 31 October 2025

Progress Checker = £175/£1,506.20 (11.62% repaid)
No progress this week as the fixed direct debit of £75 is due at the end of the month.

Goal 3 - Pay £750 off my MBNA balance in 2025 - due by 31 December 2025
Progress checker = £50/£750 (6.67% repaid)
No payments were made, but the fixed direct debit of £50 is due to come out in a couple of days time.

Goal 4 - Pay £2,500 off my overall debt balance in 2025 - due by 31 December 2025
Progress checker = £400/£2,500 (16% repaid)
As no debt payments have been made, this one has stayed as is too. But at least with MBNA coming up there'll be some movement soon enough.

Saving Grace

Goal 1 - Build a Buffer of £250 - due by 30 April 2025
Progress Checker = £0/£250 (0% saved) ⛔️ ON HOLD ⛔️
This is still on hold, as I've not had a chance to work out whether or not it is doable as yet. I'd like to think it is, but I do often have bouts of delulu, so we'll just see. Also, I need to make sure that it is used properly if implemented, and isn't a way for me to just overspend.

Goal 2 - Save £1,000 emergency fund - due by 31 December 2025
Progress Checker = £150/£1,000 (15% saved)
This always feel like such a chore to save, but I am getting more disciplined in my mindset towards it, as this is now in the Natwest Digital Saver and earning 6% interest. I worked out that if I put £100 a month into Natwest from March 2025, as there's £450 in there now, that'll keep it at £150 a month (the maximum amount I can pay in) until November 2025. I'll be looking for work by then, but if I'm still not working by then, then I'll drop the direct debit down to £100 in December 2025. 

Goal 3 - Save £750 for 2026 Subscriptions - due by 31 December 2025
Progress Checker = £0/£750 (0% saved) ⛔️ ON HOLD ⛔️
In a few weeks when all the 2025/26 bills increase have come through from the utility companies and the council has decided my rent, I'll be able to have a plan for saving for these.
This goal is split into fixed subscriptions (set due dates) and aspiration funded subscriptions (a year's worth upfront). The overall amount is £730 but I have rounded up in case any of the subscriptions increase.

• 3.1 Fixed ~ EA Access = £0/£40 (0% saved)
• 3.2 Fixed ~ Amazon Prime = £0/£95 (0% saved)
• 3.3 Fixed ~ Apple Care = £0/£85 (0% saved)
• 3.4 Fixed ~ Playstation Plus = £0/£60 (0% saved)
• 3.5 Aspirational ~ Kindle Unlimited = £0/£120 (0% saved)
• 3.6 Aspirational ~ Crunchy Roll = £0/£60 (0% saved)
• 3.7 Aspirational ~ MGM+ = £0/£55 (0% saved)
• 3.8 Aspirational ~ Apple One = £0/£225 (0% saved)

Goal 4 - 50 Envelope Challenge (£1,275) - due by 31 December 2025
Progress Checker = 0/50 Envelopes = £0/£1,275 (0% saved) ⛔️ ON HOLD ⛔️
I've nearly finished designing my 50 envelope challenge, I just need to get a better handle on the envelope sizing to go in my savings binder. I've got some money set aside for this, but I've not officially started it yet. But I will start this next month and see what I have in the budget left over once the increases bills are taken into account.

Goal 5 - Penny Challenge (£667.95) - due by 7 January 2026
Progress Checker = £8.20/£667.95 (up by £2.59 since last week)
This is being done automatically via Monzo's Penny Challenge and they move each consecutive daily amount from my current account balance. Today's amount was £0.40 and the overall amount will be over £10 by this time next week.

Balancing the Budget

This section of my weekly check-in will focus on how I am preparing for the upcoming month, so that I can stay on track and be more successful in meeting my targets.

Income Tracker - £2,100 for March 2025's Budget
🎉 Achievement Date = 8 February 2025 🎉
Income Tracker - £2,100 for April 2025's Budget
Progress Checker = £0/£2,200 (0% accumulated)
I had to use the money that I'd set aside towards April's budget, so that progress has been wiped out 😬. But there's still time for me to get on track and the freelance money is coming through this week, so that's going to be helpful. I've also disregarded sinking funds for now, so the budget is £2,100 and not £2,200. And that gives me more breathing room each month as well.

Freely Debt Savings - £0 Goal
Progress Checker = £0/£0 (0% saved) ⛔️ ON HOLD ⛔️
This is not likely to happen in 2025, unless I stick to a smaller budget (which isn't always easy with my lack of discipline) and then accumulate any surplus I may have in a few month's time.

AntoMac

All still going in the right direction Keedie. Good stuff 

Talking of Jamaica, we honeymooned there. What a beautiful place. Blue Mountans, Dunn’s River Falls etc. I will always remember seeing some of the shocking living conditions in Downtown Kingston though - a real eye opener if ever one was needed as a reminder of some of the shocking inequality in this World. On a lighter note I work with a German 🇩🇪 girl who when she was a kid used to think that Bob Marley was singing ‘German’ and not ‘Jamming’. She loved singing along to ‘We’re German. I hope you like German too’ 

KajiKita

I love seeing my EF growing. Makes me feel ‘grown up’ (at the age of 54! 😉😂) and I know that those debts and credit cards won’t have to increase if something unexpected happens. 

KK

Makingabobor2

KajiKita said:

I love seeing my EF growing. Makes me feel ‘grown up’ (at the age of 54! 😉😂) and I know that those debts and credit cards won’t have to increase if something unexpected happens. 

KK

I agree. I am 67 & we only started with an EF properly, last year. I just set up a transfer so the money goes in each week now & don't think any more about it. The same as our other saving pots now.  Wish we'd done it years ago, instead of having such a spendy era 

Keedie

Your colleague with the Bob Marley twist is just too funny @AntoMac 😂. The song wouldn't have even made sense as "we're German"! 😂 And yes, Jamaica is a beautiful country, but there are parts of deprivation. 

Having an emergency fund is definitely a grown up thing @kajikita and @Makingabobor2. At 43 I often feel like a baby adult still, but having some savings does make me feel more like I'm in control and I can actually do this adulting and parenting thing. Speaking of emergency funds, I realised that I actually have more in mine than I thought I did. There's £150 in the actual Digital Saver due to the £150 limit, but the reality is that I actually have £600, as £450 is simply waiting to be transferred from the current account to the Digital Saver. But that account is for the emergency fund only, so it's £600 I have and not £150. It's only £150 that is earning the 6% interest. Not sure how that escaped me, but I do feel better about it all. And knowing that the Help to Save bonus is all going on the emergency fund has made me feel much better. Being 60% to goal rather than 15% is a nice feeling.

I'm off to Cambridge for the day tomorrow to meet my friends and I'm taking Hot Chocolate nephew and my Manga niece with me. I think they'll have a good time, as we're going to a board game cafe and going to have a nice packed lunch. I was surprised to see that the kids were only £2 return each for the train. What a bargain!

Makingabobor2

Ooh that's a good price for the kids train fares. Wonder if its because its half term.  We keep saying we will take our DGKs to London or somewhere for a day, but there are 4 of them now and the eldest are 15, so probably have to pay adult fare. We used to take the eldest 2 (twins), when they were younger, but haven't been since pre covid days. 

Good news on having more in the EF than you thought. I keep mine in a savings account attached to the NW current account, so it gets slightly more interest than the other savings accounts, as the idea is we hopefully won't actually need to use it.

Keedie

I think the train prices for the kids is because they were travelling with me and I have a railcard? But the kids train fares apply from 5-15 year olds, and so your older grandkids @Makingabobor2 will be able to travel with you at child's fare. I know that the railcard is about 60% of the child's fare, and I think if you have a railcard (although it might depend on which one you have), you can have a few people travel with you and they also get discount. But I booked on Trainline a couple of weeks ago and I find that they have the cheapest train prices.

I have to go to Argos today, as my new microwave broke. Well the turntable did. I popped into Argos yesterday and showed the picture and the guy said to bring it back and they'll replace it. I've only had it since November 2024! My son was cooking a frozen pizza and we heard a bang and saw this...


I've got to go to my mum's and get the box and foam padding for the microwave out of her cellar. It's funny because she only took it there on the weekend to help me free up space in the living room and now I've gotta go and get it back. Oh well.

Makingabobor2

Oh no, that's not good. But good that Argos will replace it. We were only talking about MWs last night as I read that the average life span of one is 7-10 years and ours is over 18 years old now.....

Yes, I keep thinking of getting a senior rail pass, but not sure I travel enough to make it worth while...but then if I had one, would I travel more?  But as DH is not yet a pensioner, he wouldn't be able to get one and wouldn't be able to get a discount travelling with me...so not sure if its worth it or not. Maybe if we start using trains a bit more.  I have a free bus pass, but only used it once....lol.  Must try harder

Keedie

18 years is a good run. I got a piddly 3 or 4 months out of this one. I've no clue why it did that. Even the Argos manager was baffled... 🤯.

I was meant to go to my women's mental health group today, but my carer came way later than she was meant to. Which means she left late. And then I saw the rain and didn't feel like rushing in the rain. So I've decided to just go to my mum's earlier to get the box and go to Argos and then I can come home sort my hair out. I need to give it a good wash and treatment and I brought an Olaplex hair treatment kit online and that came on Tuesday. So I'm very excited to slowly work towards having healthy hair again.

in_need_of_direction

i bought my still working microwave with my first month's full time salary in June 1987!