The Three C's - Coffee, Clothes & Credit Cards

Sarahwithlove

mark55man said:

Well done.  I think that's a great decision.  Always easier to budget with things set to zero and not have to balance it all out.  Simplification is something I have been working at for ages (but it is hard to achieve)

Thanks it definitely feels like a weight has been lifted and I'm already trying to think of things I can sell and ways to make money for the emergency fund. 

Sarahwithlove

Wow its been a while. Still on track with my budget, had to tweak it a bit as everything seems to cost more these days. Or you get less for your money. 

I've managed to get my phone bill down, cancelled the gym as haven't been using it, and reduced my takeaways.

Onto better news, I have a new job, I start on Monday. Yesterday was my last day in my current job. Was a bit sad but mostly felt relief. Its a side step but more chance to progress and less office time so that will help. 

Savings are up to £2k now. Have a bit of a buffer in my spends account and bills account. Just going to keep plodding along and slowly get there. All about balance. 

mark55man

That's a great update.  And you've nearly done it - in fact if you net off savings/sinking fund  against debt - you're in the clear - fabulous

well done on the new job - just getting out is sometimes reward enough however tinged with sadness

Sarahwithlove

mark55man said:

That's a great update.  And you've nearly done it - in fact if you net off savings/sinking fund  against debt - you're in the clear - fabulous

well done on the new job - just getting out is sometimes reward enough however tinged with sadness

Thanks! I've slightly increased the payments to my dad so last payment will be April 2025. Feels good knowing the end is in sight. 

Yes after 10 years and a lot of changes, it was time. When you wake up in morning dreading work you know you need to get out. 

Hope you are keeping well 

CreditCardJunkie

Congrats on the new job and the debt busting Sarah! 

Sarahwithlove

Well I'm back with my tail between my legs as my spending has gotten out of control again and I need to reign myself back in. 

After finally deciding to stay where I am as its too expensive to move and I won't get as much value for money I went a bit crazy. I redecorated my living room, which also meant new furnishings as different colour scheme. Also brought a dining room table, sofa bed for spare room and now have a cleaner once a month. 

Now that is probably a luxury to some but my back has been playing up and I was struggling to stay on top of everything. I'm hoping in long run it will help reduce my chiropractor visits and save me money that way. That's another expense thats been going on the credit card. 

I rejoined the gym and stupidly signed up to 12 months. Well not stupidly in some respects as I do need to go as it helps my back when I do but I over did it and now back is suffering. My hope is to ease myself back in this week whilst I have the week off. No more jumping the gun though and remember that it's all about form not the weight. 

I've also been looking at getting my grass in back garden turned into a patio but after seeing my first quote I don't think that will be happening. I'd also have to borrow most of it off my dad and I don't want to go down that route I have decided. 

Work have also decided they want us to go in to the office once a week so I've had to now budget for that. Currently I go by train (£11.30) and pay to park at the station (£4.50) which is a 10 min drive or 3 miles I'd guess. Alternative is to drive which would be 52 mile round trip and parking £8.30 for the day. Train is more cost effective I think and much easier I have to say. I may change my mind in the winter. 

Now to the Financial situation. I've recently opened a monzo account which I am loving with all the different pots, virtual cards (yes I pay the £3 a month for this) and savings pots. I'm in process of moving my 2 current accounts into monzo so I only have this account and my chase account.

Monzo savings Total £5540
- EF £1000
- CC Repayments £1000
- Sinking Fund £3540 - this is made up of 9 savings pots 

Virgin Credit Card (0% Jul 25) £3150 [£50 p/m]
Natwest credit card (0% Dec 25) £1826.45 [£50 p/m]
Dad Loan £2125 [£100 p/m repayment]

I have about £200 spare a month to go into my different pots for sinking fund and credit card. Alot of my sinking fund pots are full so will focus on CC whilst I can. I've also set up save the change on my main monzo pots to go into the CC pot. Should all help. 

My hope is that I can reign in my spending and make some Overpayments by tweaking my budget and using a zero based budget. Any spare at end of month will go to CC pot and my 10 savings pots in total are all getting interest over 4% which will help. 

I plan to use my week off to hold myself more accountable, reign in my spending and catch up on here. Hoping if I post regularly it will become habit again and I'll find some inspiration. 

Now if only the unions could agree a pay rise that would cover my additional travel expenses and give me an extra £50 in my budget. 

Sarahwithlove

On another note I am really enjoying my new job ☺️ 

Sarahwithlove

OK wow just updated my signature and that debt figure is kind of scary. Admittedly I have savings but most is in a Sinking Fund for ongoing/annual expenses. 

I'm trying to see if I can send some garden furniture back to get a refund and I may have to use my £50 of club card vouchers for my next food shop and put the cash in CC repayment pot. I hadn't realised they had built up so much. 

Plans for next week now include: 

- sell items on fb including bikes.
- sell too small clothes on vinted 
- trade in old mobile phone
- start using receipt scanning apps again
- start using prolific and one poll again. 
- menu plan 

Sarahwithlove

Good afternoon 

Slept badly last night, kept thinking about the situation I have got myself in and what I can do to get myself out of it. 

One thing I realised today was that I order stuff on amazon for my sis in law, she repays me and instead of paying it off my credit card its being spent by me. So today when she asked me to order something I paid it directly off the credit card, same with my purchase this morning. 

£5 from personal spends on live stream of friendly game for my football team. 
£9.95 from General fund for air fryer liners. 

Shouldn't be any other expenses today. Food shop arrived last night, had first Oc@do order and had to request refund on 2 items as both were mouldy. Not good first try. Only did it due to 25% off first order to be fair. 

I need to make a decision about tomorrow. Supposed to be going to friend's for her 40th birthday party but really not feeling too great atm. Got bit of stress/anxiety IBS flare up which is never good when you have to travel 2 hours and its making me feel uncomfortable and in pain. But I will feel bad if I don't go. Urgh have to see how I feel in the morning. Hate letting anyone down. 

Aimingforthegoodlife

Hey, the savings are looking really good, so that's a big positive! And you are working on a plan for the debt so that is also really positive. Hope you are feeling better soon