Budget with me one week at a time

DFB35

I am waiting for my funds to clear from all the selling. They said 24 hours. I should have enough to clear all the interest bearing cards plus some of the 0% card which finishes sooner. 

I am not worried about the husbands 0% card even though it finishes in August as he still can get another and is very good with money in general. 

A reminder of my balances before!

DFB35 said:

Credit cards not on 0%:

American Express - £600 - I’m waiting for annual cash back of £276 which will reduce the balance to £324
First Direct - £790 
Halifax - £1,900

Credit cards on 0%:
Nationwide - £4,950 0% until 03/25
Sainsburys - £8,765 0% until 01/25
My husbands MBNA - £6,000 ish 0% until 08/24

Boiler - £132 0% finishes in December 23
EV charger - £952 0% finishes in July 24

Loans:
First Direct - £30,000 finishes 10/2030. We borrowed 30k but in the app the outstanding amount is -£37,554 
First Direct - £16,000 finishes 10/2030. We borrowed 16k but in the app the outstanding amount is - 15,622

Car PCP : husbands £274 a month 

Mortgage:
Barclays - £195,536 fixed at 4.3% until 10/28

Credit cards not on 0%:

American Express - £600 now £540 - I’m waiting for annual cash back of £276 which will reduce the balance to £324

Halifax - £1,900

**First Direct - £790 now £0**

A reminder of what it was at the beginning. Cannot wait to update!!

DFB35

After this initial jump it will be a hard long slog. I recon I can get my cards paid off in two years (with bonuses 🤞)

But then we need to tackle the loans as one is 200 a month and another a whopping 450 a month. It be so good to get rid of them sooner than 2030…

The loans were taken out mostly for home improvements (we had a new bathroom, garden re do, patio and new fences which was quite pricey, bollards for the drive and painting the house) but also some holidays and debt consolidation. 

Husbands 0% card is car deposit and pcp will be ticking over. I’m not worried about those as it’s a nice new car and we will keep it a long time. The 0% he will clear with his bonuses and the monthly pcp we are happy to pay for now. 

DFB35

Got the money!! And all the non 0% cards are paid off!! Plus made a chunk of progress on the other two cards. 

New totals:

Credit cards on 0%:
Nationwide - was £4,950 now £4,000 - 0% until 03/25
Sainsburys - was £8,765 now £7,000 - 0% until 01/25

Loans:
First Direct - £30,000 finishes 10/2030. We borrowed 30k but in the app the outstanding amount is -£37,554 
First Direct - £16,000 finishes 10/2030. We borrowed 16k but in the app the outstanding amount is - 15,622

Husband to sort:

My husbands MBNA - £6,000 ish 0% until 08/24

Not worrying about for now:

Car PCP : husbands £274 a month, I know plenty of people don’t agree with leasing but we are happy to carry on. Might buy the car outright at the end. 

Boiler - £132 0% finishes in December 23
EV charger - £952 0% finishes in July 24

Mortgage:
Barclays - £195,536 fixed at 4.3% until 10/28

MFWannabe

DFB35 said:

Got the money!! And all the non 0% cards are paid off!! Plus made a chunk of progress on the lother two cards. 

New totals:

Credit cards on 0%:
Nationwide - was £4,950 now £4,000 - 0% until 03/25
Sainsburys - was £8,765 now £7,000 - 0% until 01/25

Loans:
First Direct - £30,000 finishes 10/2030. We borrowed 30k but in the app the outstanding amount is -£37,554 
First Direct - £16,000 finishes 10/2030. We borrowed 16k but in the app the outstanding amount is - 15,622

Husband to sort:

My husbands MBNA - £6,000 ish 0% until 08/24

Not worrying about for now:

Car PCP : husbands £274 a month, I know plenty of people don’t agree with leasing but we are happy to carry on. Might buy the car outright at the end. 

Boiler - £132 0% finishes in December 23
EV charger - £952 0% finishes in July 24

Mortgage:
Barclays - £195,536 fixed at 4.3% until 10/28

Whoop whoop 🙌👏👏 that’s brilliant news, what a fabulous start 👌

RelievedSheff

That's brilliant progress in a short space of time. 

DFB35

Paid today and doing my budget for the month, giving each £1 a job. 

But it’s not leaving me enough…. 

Also I did have a shopping relapse and with Christmas coming up not sure if I can stop using the credit cards yet. I’ve been brutally honest below. 

These are the figures:

Salary £2,735.46
My portion of bills £1,700
Food £400 (realistically there will
be more but I’m hoping husband might buy some bits. It’s weird as we have separate budgets - long story)
Holiday £278 (last payment) this is a fixed payment for my 40th birthday family holiday 

….. and I need to spend £90 on beauty. 

I have been feeling really down and low (I am on meds for my mental health issues so not just saying it and also have some health issues which made me feel very low, ive had an op recently but I don’t think it’s worked which sent me a bit over the edge ) so as part of my self care I’ve treated myself to nail and haircut at the weekend (unbudgeted). That was part of my  budget relapse. 

Looking forward to this month I need nail upkeep £35. And new eyelashes £55 (the lashes make sooo much difference to me I want to try and budget them in).

I also will budget for regular haircuts (just had one so next one is January £45). 

So that only leaves £267.46 and I also pay for sons lunches, give him money when he goes out etc…

so yeah…. Need to figure something out. 

Credit card balances :

Amex - £239.50 was £0
FD - £154.18 was £0

0% cards 
Nationwide- £3,989.52 was £4,000 (I’ve been doing a lot of tilly tidies throwing small amounts on it to round up my current account)
Sainsbury- £7,000

DFB35

I think realistically we are living beyond our means and have become accustomed to it. The holiday payment is the problem for my personal budget. At least it’s the last one! 

RelievedSheff

 I think you need to sit down and write down all of your incomings and out goings and come up with a realistic monthly budget.

Your out goings are more than your incomings. Until you change that then nothing is going to change I'm afraid!

DFB35

I think I’m still in a massive denial phase. I’m trying to snap myself out of it. It doesn’t help that I have some health issues (I know it sounds like an excuse but I think bad mental health and mismanagement of money are linked).

I have taken the holiday payment out of the equation, and will reimburse out of savings. I only had £500 saved which is now £222. Need to see that grow once i get my finances under control. 

Ok. That’s how it looks like now and will try and stick to it:

Salary - £2,735.46
Bills - £1,700
Food - £400
Beauty - £90
Holiday - £0 (£278 out of savings)
Sons lunches -£40ish (will keep track and update)
Weekly spends -£100 (this includes travel to work and bits and bobs. And definitely an area where I can try and make savings)

Left -£105.46 (i will keep track of this if for example my son needs going out money I can either give out of my £100 a week or here, will
be interesting to see where this goes)

I am going to be brutally honest and accountable to myself first and foremost and this diary even if it’s not pretty. I want to improve and budget properly and making this pledge as a promise to my future self Xx

RelievedSheff

We are here to help you through the pretty and the not so pretty stages.