Baby steps all the way to Financial Freedom

Gettingmyshiztogether

So I ve made a mistake.

Unsure really quite how I got myself in this mess, but here I am! 

I'll explain.......

I have a T3sc0 CC that I use for my fuel so that I can collect CCpoints. I plan to use said CCpoints for Christmas food shop. I have been paying the statement amount each month. It worked. However, this month the statement amount is half of the balance. And I feel like I ve slipped up. Unsure when this happened!

I have been paid a little more than what I was expecting this month (woo hoo!) And so by the end of the month I should have almost £500 to throw either at the T3sc0 CC or I make the bold move to put that money into my emergency fund, and pay off the t3sc0 CC in full next month.

I need to readjust how the CC works for me. I want the points. But equally I wonder if its maybe too soon in my DF journey to be so smart with a card. So I need to adjust from clearing it monthly to every single time I use it. 

I feel that it would be wiser to tuck the money into emergency savings taking me almost to my goal amount of £1000. 

Anyway I don't receive the pay until Friday. I wanted to share this as it's a part of the process in learning how to Budget and manage money, something I am working hard on! It's all part of the journey I guess.

Sarahwithlove

You have a reasonable amount in your EF so I would pay off the card to avoid any interest being charged. Putting the money aside as you spend it is OK as long as you won't be tempted to dip into it. Personally I would pay it off as soon as you've spent it. 

backinbusiness

I would only add here that clearing the cc spend as soon as you spend it won't help improve your credit file (not score - ignore any score) - if indeed that is something you'll be working towards improving in the future?  Just food for thought.  BiB x 

Gettingmyshiztogether

Sarahwithlove said:

You have a reasonable amount in your EF so I would pay off the card to avoid any interest being charged. Putting the money aside as you spend it is OK as long as you won't be tempted to dip into it. Personally I would pay it off as soon as you've spent it. 

Thanks Sarah, you've worded it better than I did. I think that's what I will do re the CC. Thank you for your help xxx

backinbusiness said:

I would only add here that clearing the cc spend as soon as you spend it won't help improve your credit file (not score - ignore any score) - if indeed that is something you'll be working towards improving in the future?  Just food for thought.  BiB x 

Thank you. Our fixed rate mortgage is up in april 2026, so hoping to be completely debt free by then and have started chunking down on the mortgage too... I am assuming hugely this is why I would be looking to improve the file. I think my file must be pretty good though to be fair as everyone keeps offering me credit and existing creditors want to increase my limits 🙈😳

Gettingmyshiztogether

Good morning 

It's been a while since I updated! 

Things going well this month. Grocery Budget is looking good, sitting at £184.63 / £420 budgeted so looks like I'll be under this month which is good. That money goes towards an emergency fund in our joint account.

I ve bought the budget mom's budget by paycheck workbook also. I ve printed it off, and put it into a folder... it's 3 inches thick 🤣🤣 but I am hoping that by working through this, tracking my spends and where my money is going I'll be in a completely different place in six months time 🤞

I think that's everything for now 😊