Budget with me one week at a time

Aimingforthegoodlife

Hi @DFB35, it is all a learning curve, debt freedom is a whole new way of thinking and seeing the world. Remember too be kind to yourself, everyone here is learning and trying to do better! I hope you continue healing well and will pop back to check in again soon!

DFB35

Thank you guys, all is well here waiting for payday to reset all my budgets

DFB35

I’ve tidied up accounts before payday. Joint bills account had surplus of £60, so I’ve moved £50 to join savings pot (£10 will roll over).
personal account was in credit £52.40, I’ve paid £50 to Nationwide CC. Will update signature in a mo. 

Oh forgot to add I finally had all I need to submit a claim to get money back for the holiday I didn’t go on. Fingers crossed insurance pays out it be £800ish. 

Spendless

Sounds positive. Fingers crossed for the hol money back. Is your payday tomorrow? My DH (I'm not currently working) is the last working day of the month and I'm finding it frustrating that this year that's a day later -lol. 

Fizzy11

Hi DFB35, Just popping in to say I’ve read all your diary and I just wanted to say that I promise the hardship now is so worth not being in the same situation in your 60’s. My OH & I had a lot of debt due to relocating for his job then interest rates went crazy but now in late 60’s I’m so glad we went without to ensure we’re financially secure now. One D went to university who we supported financially and emotionally plus S at home who doesn’t work for medical reasons but I’m really sorry to say kids cope with being told you can’t afford new things and trips for them to go out. In doing so you’re passing on the same living beyond their means mentality. Letting them know we all have to prioritise our spends. I really hope you’re full recovered from your operation and are able to carry on making progress. One bad month doesn’t mean it’s all gone to pot. There’s a really good book called In The Red sorry can’t remember the author but it’s honestly worth reading. It’s a true story and not one of those self help books. 

DFB35

Thank you for popping in Spendless and Fizzy.

Another payday another small step in the right direction. I’ve updated my signature totals. 

Also had a difficult talk with a relative and admitted how much we pay each month on loans and credit cards. The convo started with them saying they have 300 a month left after bills and I said I didn’t have much more.  They were shocked as husband and I are on good incomes. Made me feel very embarrassed as it’s all our doing. But in a way relieved they know as no pressure to spend from their side. 

DFB35

Ok I have been absent for awhile and my debts have gone backwards with credit card debt increase of over £2k and a commitment to pay further £1.6k for a holiday later in the year.

Here is the situation now:

Not 0%

Amex has a balance of £504 and there is a commitment to a further £1,631 (split into monthly payments) due to booked holidays 

0%

Nationwide CC 0% March 2025 - start £3,850 was £3,700 now £3,600 this one gone down 
Sainburys CC 0% January 2025 - start £6,450 was £6,150 now £8,828 up £2,378

I don’t have a plan of clearing the 0% cards at the moment, apart from reliance on the bonus next February, which even at its best won’t cover them in full.  

And the Amex will have to take priority, I’ve kind of gone completely backwards and living above my means. Step one would be to stop spending on credit cards (apart from the stuff already committed to).

The reason it all went backwards is a combination of manic spending (buying holidays is part of it), and life is too short might as well enjoy attitude. I’ve come of my meds (setraline) once I realised I was getting manic, it’s a difficult one as I’m either super depressed go back on the meds and after awhile the meds make me super happy and manic.  I also use them for anxiety so if it gets bad again will have to go back on. I also adjust doses to the lowest one, but after few months still became manic. This is the second time it happened. Or maybe it’s an excuse and life is too short attitude who knows. 

Anyway enough rambling. 

Step one - stop spending on credit card. Will be reporting back to keep myself on straight and narrow. 

RelievedSheff

Life is too short.

It is certainly too short to be spending it worrying about debt repayments, which is why it is important that you get a handle on the overspending on your credit cards!

DFB35

I have made a small payment to round my big credit card to £8,800.

In my personal account I have £330 which should be enough until pay day at 100 a week 

Our bills account is ticking over, but I have not topped up food account. We have a food shop coming on Sunday (100ish) and another 2 until payday, so in total need £300. I have a small amount of savings so will have to rejuggle to cover this. 

Once I get to payday I will do proper budget like I used to do before as I know it works well for me. 

I’ve also committed to two evenings out so hopefully will be able to cover that from my personal account allowance. 

Onwards and upwards

DFB35

Ok I have sorted my food account. 

So starting back to basics again, I will be monitoring my spending.

Personal spends account £330

week 1 - 30
week 2 - 100
week 3 - 100
week 4 - 100

Food shop - 400
week 1 - 100
week 2 - 100
week 3 - 100
week 4 - 100

Bills account which includes debt direct debits should be good (I contribute 1,700 a month).

I have just £50 left in savings, but will start building this up. 

I have two evenings out planned and will try to be as cheap as possible, hopefully weekly allowance above will cover it but I need to go back to budgeting for social buffer.