The Secret DFW Diary of Eamd Aged 13¾

Verbatim

Glad you had a good night out and good result re budgeted spending. I think the term for what you are experiencing is "Deferred Gratification".

You want something in your case to buy a property with your gf, but to do this you have to reign in your spending now and for the foreseeable future to pay off debts and then save for a deposit.

AND YOU'RE DOING BRILLIANTLY

mattfiona

Hi there,

Thanks for your comment in my diary, I have been reading through your diary and you're doing really well!

Sounds like you have about the same amount of debt as us - well done on getting sub-£13k! We should be there aswell after Feb. It's a nice feeling dropping down to the next £1,000!!! It's easier for us aswell as we're in it together both paying off the debt, sounds like you're tackling it by yourself so well done!

Keep up the good work!

embarrassed_about_my_debt

Hi Fiona, thanks for that,

Its my debt and i am tackling it by myself but my girlfriend is helping by paying for things when we are out, which i dont like but her arguement is i paid for everything when she was at uni and paid to go down and see her which is where some of my debt has come from. She knows about my debts and knows how hard im trying to pay them off so this is her helping.

I still pay for somethings but she argues like hell when i do!

embarrassed_about_my_debt

Morning all,

Well its pay day but havent been paid overtime today so that will go in over the weekend, so it means that i cant make a big payment today but will as soon as the funds have cleared.

Was checking my online CC statement and realised it is now 2 months since i've used my credit card :j so quite impressed with myself on that front.

Also been working out a new weekly budget. I have decided that although i want to be throwing money at my debts as much as i can i need to have a fall back fund if something goes wrong with my car which would mean any bills would end up back on the credit card.

So my new weekly budget is as below

Weekly after tax £210.00
Rent £20.00
Transfer to bills account £50.00
Bowling £15.00
Pool £15.00
Petrol £20.00
Cash (Papers/lunches) £15.00
Savings £15.00

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£150.00

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To extra to pay off debts weekly £60.00

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I've cut the petrol down from my previous budget and also the weekly cash i give myself for unbudgeted spends. If i dont put petrol in my car for any reason one week then that money will be added to my car repair/emergency fund.

I know the general advice on here is not to have savings if your in debt but i feel i need this safety net for any repairs/services.

Right time for a :coffee:

pania

oooooh do you go to the wonky bowling alley??? or is there a straighter one here now?:rotfl: :rotfl:

seriously, do tell, i love bowling and was upset when hollywood bowl closed!:D

Your doing fab with those finances hon, kinda putting me to shame to be honest!! good for you!!:beer:

embarrassed_about_my_debt

Wonky bowling alley?? Which one do you mean? I go to Number Ten.

Im not putting you to shame at all, your doing really well, im just in the fortunate position that i still live at home so have little in the way of outgoings unlike most people and want to get myself out of debt before i get a house so am really focused.

pania

PS i completely agree re the slush fund savings. I was stung by my car in october by £600 luckily i had a fantastic pay month that month else god only knows where i would get the money from.
It is amazing the peace of mind that comes from knowing that you have a little put by and should you need it it's there. I've got £400 that is burning a hole in my mums bank account somewhere. Keep thinking i should clear a debt with it but noooooo!!! keep it for emergencies.
Have you also looked at saving for christmas? sounds silly as we've only just had one but spread the cost over the year and it is sooo much easier to budget for.


Can i have a cuppa too please? :-)

pania

embarrassed_about_my_debt wrote: »

Wonky bowling alley?? Which one do you mean? I go to Number Ten.

Im not putting you to shame at all, your doing really well, im just in the fortunate position that i still live at home so have little in the way of outgoings unlike most people and want to get myself out of debt before i get a house so am really focused.

Hollywood bowl, has been closed as it's subsiding! there is a possibility the whole complex will have to be demolised and re-built, thought it was quite funny TBH.:D not so sure the owners felt the same though!!

Only joking about the putting me to shame bit. It's nice to see someone making such good in roads into their debt, that house will be yours in no time! :j (just remember the job i do when the time comes:rotfl: )

embarrassed_about_my_debt

Yea have thought about it but havent really done anything as trying to get debts down so much.

This year i just bought a bit at a time out of different pay packets which seemed ok but just means i was only paying minimum payment for Dec.

I should have cleared my Abbey card and Mint card by November hopefully so will probably just make a smaller payment on the Barclaycard in December.

Though this would be best as means i dont need to worry between now and then.

Yea i'll send one of the girls round with one!

:rotfl: yea heard about that, very funny! bet the owners are well gutted!

What job do you do?

pania

mortgage advisor:o don't shoot me!! :rotfl:

Blimey abbey AND mint by November. that would be a brilliant amount to knock off the old debt. :j