2008 - Live on £4000 for a full year.

mumzyof2

Ok NYK i have just checked my bank and a payment has just gone in CB for £120.80 leaving me £123.73 in the bank.
On the 2nd i have a standing order (thorugh the internet banking) coming out for next for £34.00 which is due on the 5th Jan.
I also have coming out on the 2nd £35.14 Tv Licence (quartly)
Leaving me £54.59
should really pay £34.00 out to westcot as missed last payment last week due to coulnt find my internet banking code. But i will pay that on 7th. So tomorrow i will draw out £30 for tuesday! so out weekly payments will run tuesday to tuesday???

mumzyof2

nykmedia wrote: »

:T GOOD QUESTION! Check out my signature...
Can you see any outstanding debts?

Can you see my house challenge? One day that will say zero and, until that happens, this is the way I choose to live. I do, however, still have credit cards but those beggars ain't getting any interest from me ever again if I can help it.

Tomorrow, I'll let you know exactly how much I have left out of my 2007 budget and it will be going in Phil the Pig... but I need bread, milk and cheese first and the Co-op's shut at this hour :rotfl:

Lmao you are so funny!!! Id love to live in your house..i would imagine your hyper all day lol. Do you have kids too? LOL at co-op shut at this hour, what does your hubby/bf say about your crazy challenges???? (if you have one)

mumzyof2

nykmedia wrote: »

:T GOOD QUESTION! Check out my signature...
Can you see any outstanding debts?

Can you see my house challenge? One day that will say zero and, until that happens, this is the way I choose to live. I do, however, still have credit cards but those beggars ain't getting any interest from me ever again if I can help it.

Tomorrow, I'll let you know exactly how much I have left out of my 2007 budget and it will be going in Phil the Pig... but I need bread, milk and cheese first and the Co-op's shut at this hour :rotfl:

How much ahve you saved this year also???

Frugaldom

mumzyof2 wrote: »

You do make it sound easy lol :P Thankyou for all your help
BUT me living of £30 a week, will the rest pay my rent plus leave me some money to pay a debt off in full AFTER i have paid all debts for that month?

As you begin this challenge, take things slowly and always think things through at least 3 times to ensure you are making the best decision. Pay off each debt at it's normal monthly amount and then look at those totals... they will have strange amounts. For example, £107.39 What I do is look at all these wacky amounts and overpay them by the wacky amount... above example I would HAVE to find an extra £2.39 so that my balance was a 'tidy' number. Even if you can only do this with one debt, start with the one that's costing you the most in interest or charges. There is, however, a wackt side-effect from this compulsive method of debt reduction... IT IS ADDICTIVE! :rotfl: :rotfl: :rotfl: I call it FINANCIAL OCD (Obsessive Compulsive Disorder)

Yet another side effect is the fact that the condition worsens as those debts disappear... you find it creeping into your savings, too. You see savings at £99.37 and BANG! You will find yourselve possessed by the OCD money demon and you wil trail those pockets, pavements and long forgotten handbacks in search of the missing 63p as though it really had escaped... but I'm not a lunatic, honest, I'm just a simple, trainee eccentric :cool:

mumzyof2

cant wait for the 1st! Oh and i have train fair of £15.00 to come out of the £30.00 for this week so i ca go visit my mum at my sisters b4 she goes back so £15.00 to live off this week plus about £4.00 i have left in my purse.

mumzyof2

nykmedia wrote: »

As you begin this challenge, take things slowly and always think things through at least 3 times to ensure you are making the best decision. Pay off each debt at it's normal monthly amount and then look at those totals... they will have strange amounts. For example, £107.39 What I do is look at all these wacky amounts and overpay them by the wacky amount... above example I would HAVE to find an extra £2.39 so that my balance was a 'tidy' number. Even if you can only do this with one debt, start with the one that's costing you the most in interest or charges. There is, however, a wackt side-effect from this compulsive method of debt reduction... IT IS ADDICTIVE! :rotfl: :rotfl: :rotfl: I call it FINANCIAL OCD (Obsessive Compulsive Disorder)

Yet another side effect is the fact that the condition worsens as those debts disappear... you find it creeping into your savings, too. You see savings at £99.37 and BANG! You will find yourselve possessed by the OCD money demon and you wil trail those pockets, pavements and long forgotten handbacks in search of the missing 63p as though it really had escaped... but I'm not a lunatic, honest, I'm just a simple, trainee eccentric :cool:

I was thinking tho..at say end of this month i have a lump some in savings that i have made from only spending £30 a week... i will pay off one debt with the amount i have saved, what you think? I can see where your coming from with the untidy numbers...have you seen mine lmao

Frugaldom

The challenge starts on Tuesday 1st January 2008 and ends on 31st December 2008. I've done a full food/cleaning materials/toiletries inventory today and now need to go switch on the tumble drier and stick on a washing(make the most of E7).

Tomorrow IS next year!!! Look at the time.... aaaaaaaaaarrg..... g'night all

Frugaldom

mumzyof2 wrote: »

I was thinking tho..at say end of this month i have a lump some in savings that i have made from only spending £30 a week... i will pay off one debt with the amount i have saved, what you think? I can see where your coming from with the untidy numbers...have you seen mine lmao

Your money is budgeted for the full year. Each week, you have full control of your £30, same as me, but EVERYTHING ELSE is budgeted for paying out monthly and quarterly bills. The trick is that as soon as one debt gets paid off, the you move onto the next one. Imagine you pay off one debt by February and it was costing you 30/month; as soon as you have made the final payment, that £30 gets moved to the next debt, preferably the one charging the highest interest. That way you are overpaying it, clearing it off sooner and saving on the charges or interest at same time. You clear one at a time in a timely manner and prioritise the debts into which you hate most and want rid of fastest I really need to go now, Co-op will be open soon! :rotfl:

mumzyof2

i get you now thankyou!

DdraigGoch

Well, I did the Money Makeover Budget, and things were a LOT worse than I thought. We, on a reasonable income, were apparently overspending by nearly £900 a month. I can't do smilies about this, it's too dreadful.

That explains where all my inheritance went, doesn't it?

So, now it's back to my default position - frugality, only this time with a hey nonny noh! I really need to get a grip before it gets more dangerous than it already is. I'm not overdrawn yet - but will be by April 1st [how apt] if WE don't mend our ways.

Sorry to be such a misery - I shall regret this post later. Can I edit it if something miraculous happens and it turns out it's not this bad?

Yours, very serious and upset
DG