10 years later yikes

1stTimer

Small spend yesterday in Tesco, really fancied chocolate cake so brought a birthday cake all for me😂 other than that just trying to stay out of shops and away from online purchases.
Broadband DD has come out and just waiting for phone bill to go now but I think that’ll be Monday.
Got a reminder coming up to cancel broadband so I’m hoping to try and make a start getting that switched over this weekend but working both sat and sun so not sure if I’ll get the chance.

twiggy86

I know what you mean about feeling like something is always cropping up and knocking the progress off track... I may have also received a FPN this month but for the "bargain" price of £130! I have set up my accounts so that I have £100 "buffer" (i.e. a balance of £100 is my version of £0) so that when things crop up or I overspend in a category it doesn't completely throw things. It's just what I have found gives me that bit extra comfort - and this is in addition to my £1,000 emergency fund (which I STRONGLY recommend prioritising if you haven't got one already), which is for true emergencies only! 

1stTimer

twiggy86 said:

I know what you mean about feeling like something is always cropping up and knocking the progress off track... I may have also received a FPN this month but for the "bargain" price of £130! I have set up my accounts so that I have £100 "buffer" (i.e. a balance of £100 is my version of £0) so that when things crop up or I overspend in a category it doesn't completely throw things. It's just what I have found gives me that bit extra comfort - and this is in addition to my £1,000 emergency fund (which I STRONGLY recommend prioritising if you haven't got one already), which is for true emergencies only! 

Ah the FPN fairies are being so charitable this month @twiggy86 😂🤦‍♀️
good idea on the buffer pot, I will add that to my amendments or next month. The emergency savings pot is already being added just for extra security. Thank you 

1stTimer

Last weekend before payday so just on a count down now.
I’ve got my spreadsheets all up to date and it’s not too bad considering the “extras” I’ve had to account for this month.
The pots idea have really helped and yes I have overspent on the dog pot but that will even itself out next month as food will not be ordered. My car pot took a double whammy in petrol this month but again will now not need to top up next month as I’ve done it 4 days early. I pretty much put all other spending into the grocery category but did list subcategories too, now next month I can break that down a bit more. Looks like I need an Amazon category 🤦‍♀️ so I can start pulling that apart.

joedenise

I spend quite a bit on Amazon too but I just take the money from whichever pot the item is from, eg coffee beans would come from my Bulk Fund as they last longer than a month; tea towels would come from my Home pot; a microwave from the Household Goods pot etc.

Think I'd find it difficult having an Amazon pot as never know from month to month how much I'm going to be spending and on what.  I do however have a pot for Prime which I just put in £7.50 a month to cover the membership fee each January.

1stTimer

@joedenise yes this is exactly the kind of organising I am aiming for with the Amazon purchases so I will start listing it into categories.

last month I actually removed all my payment details and cards from my account as I’m seeing an increasing number of people on the consumer rights forum and other websites being hit with scams and details being stolen. figured I’d play it safe and I’m impressed how just by doing that I’ve minimised my spending there.
it makes it a lot harder to just click buy when I’m at work or out and about.

1stTimer

Hello payday!
funny how the last couple of days wait seems to have dragged, all for a 10 minute fix of reconciling my spreadsheets. However it is here, I have done it and it’s been interesting and quite fun to play about with it all.
so I have overspent on dog pot (-£6.98), Annual pot (-£418.75) and car pot (-£1.85) none of which I am too worried about as it’s my first month and the point of these pots are to build funds for the exact things I know are coming out, unfortunately some of these things came out on month one rather than after 3-4 months. It should in theory balance itself out over the year.

lessons learnt from month one - I need a buffer in my Monzo current acct so when I do need to pay from one of the pots I’m not standing at the till transferring money around before being able to pay. £50 now allocated to Monzo Current
I need an emergency pot - I moved my left over funds to a spare chase acct £180 for this
Amazon pot needed so I can break down what I spend in there - Amazon pot created and £100 allocated
change presents pot amount as after analysing it looks like I will be a little short some months - presents pots now £60 per month
i have a RS maturing this month so need to look at what I want to do with the monthly payment going forward and also the matured money/interest….
i’m sure I will go back to it all over the weekend and spot some other things!

1stTimer

I was reading the banking forum this morning and saw a TSB switch that would be really handy to get… when I first went into my DMP I did what everyone does, I applied for a basic account and also managed to get a Monzo account that originally I was moving my debt payments into to build my emergency fund.
That was all 5 years ago now and in Dec I tried my 1st switch offer with Santander and got it! I think what helped was on the form I could choose to apply with or without overdraft and I chose no OD.

I’m now worrying TSB may knock me back as they didn’t give an option on OD and with my defaults still registered I really don’t want to negatively affect my credit anymore than it already is. 

I have been able to open many different savings accounts in those 5 years so I am hoping that will be seen positively.
im probably over thinking and if they do knock me back then so be it nothing ventured and all that, but I fear it will knock my confidence a bit and I will be reminded of how silly I have been over the years

1stTimer

Man I am go glad it’s the weekend and I have 3 days off! Also very grateful I managed to get all my washing out and complete yesterday. 

Plumber came yesterday and I finally got new bathroom taps whoo. I’ve also bit the bullet and booked my car in for the last of the big jobs (until next MOT…..) the last week in June, this gives me this month to really try and cut back but I’ll also have just been paid again so will have buffer there too. I have also just remembered the RS that matures this month so could potentially hold that back.

I have 1 1/2 weeks off coming up so will need to be careful there, should probably start getting a list of jobs written down so I can have the distractions when needed. 

Only 1 annual payment due this month and that’s the parking permit (£80 last year) so that’s covered. Today I want to get a new SOA done for last month and compare to the previous one I posted, it’s only been a month of documenting everything but I think it will give me some insight.

1stTimer

Not much to report, had a low spend weekend and going to aim to continue that through the week. I had a news notification show up on my phone last week about 100% mortgages being available again and whilst the logic in me says now is not the time, I can’t help but think about it.
I’d be silly to even try, I still have defaults registered and to be honest the house prices round here scare me but how I wish I was in a better position…hindsight ey!

TSB sent me a debit card through the post yesterday so the bank switch is looking hopeful and I cashed out on survey sites yesterday so banked £54, that will go to the work on the car next month.