My Intentional Journey to Debt Freedom

Less_Talk_and_More_Action

So today’s MSE positive action is a bit of a habit change for me.  Having managed the balance transfer and having about £2000 left in total (for both of us) on interest paying cards I was talking to Mr L about not doing the pots and throwing everything at the cards.  He then said to me “I thought you said we weren’t going to do that”.  Hmm…….so I did.  

A lot of this for me is about changing habits (of a lifetime) and building sustainable actions.  Having money in pots and a small EF is about breaking the CC habit.  So: 

- We’re carrying on as we are. We have a plan and the cards won’t take long to go.  

- We have bills coming up - car insurance especially.  If we throw everything at the credit cards we’ll be paying that on the credit card.  Even I can see the stupidity of that.  

- Extraordinarily I listened to Mr L when he reminded me. This is always worth noting 🤣. Mr L is great but not one to run his mouth off (unlike yours truly). 

Feeling very positive.

L x 

Less_Talk_and_More_Action

Thank you @Cara_   You slipped past me there - I like to reply to everyone.  I’m really pleased with that outcome (could you tell 🤣). 

I feel like it’s been a good start and now one foot in front of the other.  

L x 

jwil

Less_Talk_and_More_Action said:

Thank you @jwil. I am unreasonably pleased at such a great step forward 😁. Mind you, you could teach me a thing or two about the benefits of the small amounts adding up.  I am always impressed at those small PADs adding up.   For the first time I now have our mortgage on an app so I can track it.  Once the higher interest CCs are gone that’s where I am heading next.  I feel I have had a personality transplant- I am excited 🤣🤣. 

L x 

I'm always surprised how they add up as well.  It's nice being able to see the mortgage on an app as well

Cheery_Daff

Excellent habit-changing positive action there, well done, and well done to Mr L for noticing and bravely saying something! 😁

You're right, all these things come from occasional bigger changes, but mostly daily little actions that all add up nicely 😊

Less_Talk_and_More_Action

Nice to see you @Cheery_Daff.  Mr L is quite happy to let me do the organising on this stuff - but he isn't passive, he joins in the conversations and offers his views but he isn't driving it on a day to day basis.  He is 100% supportive and on board.  Having said that, I am the person with the most behaviours to change to be honest!!!

In today's money saving - we had started a process of using personal monies this month for our own personal choices.  We had started at £50 each per month but the scope of it was quite limited - mainly coffee/lunches out and any off menu rubbish we wanted to eat (chocolate etc).  We had a good chat about this today and have decided to increase this to £100 per month each and to include everything (big gulp from me because that means it will include skincare/makeup etc which has been a BIG area of expenditure for me).  I want to change my approach to the skincare side and I know there are lots of great products that are better value than the ones I use.  I won't be spending on really expensive skincare in retirement so I need to start moving to a middle ground from now.  I do have quite a lot of stuff in "stock" so I can do a gradual transition.  I am going to have a look at the B*dy Shop (thank you @foxgloves for reminding me of their existence).  Also, in having this amount, there will not be anything spare so it will have to work - we are also including clothes in this.  I cannot avoid the fact that if i gradually lost a pound or so a week until my birthday (July) I would have a whole new summer wardrobe awaiting me!

I hope everyone is having a good Sunday and the storm isn't impacting too much - horrible weather here now so we have battened down the hatches for the rest of the day and I am WFH until one day out on Thursday so not too bad a week ahead.

L x 

jwil

Good luck with the spending allowance!

foxgloves

Hi LTMA,
We also have £100 each for our Personal Spends & it includes all toiletries except for a very few basic items we would share, such as an occasional bubble bath & hand soap which would be bought from our grocery budget. I've enjoyed trying out various different moisturisers & if I have fancied something more upmarket (which of course doesn't always mean 'better' as I'm sure the brand name & associated advertising/marketing budget push up the price tag as much, if not more than the actual ingredients), then I have put it on my Christmas or birthday list. I also augment my Personal Spends by around £20 to £40 per month with my earnings from surveys. This has allowed me to build a £100 reserve which is just sitting alongside the Savings Pots in case I see a gorgeous bit of something I can't resist! 
It really does make one prioritise, doesn't it? Do I really want this nice but not spectacular cup of coffee & fairly bog-standard toasted teacake or would I rather save the money for a really good cappucino & warm from the oven cherry & almond scone from somewhere else later in the week? And lots more similar internal conversations as choices arise.
F

enthusiasticsaver

Good luck with the personal spending allowance.  It works for us too although ours is higher than yours and yours could be too once the debt is gone. 

Less_Talk_and_More_Action

Thanks everyone.  @foxgloves the skincare is going to take a bit of work I think but I am open to the idea of shopping around a bit and introducing better value options.  Totally agree about the rationale behind different spending decisions.  This month has been semi- successful but we’re not quite there and I need more focus on being intentional in this area and thinking about those sort of examples before I spend.  Most important to me is the thought of investing in my future self and having retirement options in 3 (amazing) to 5 (more likely) years and that Mr L and I will be debt and mortgage free.  A house move will also be involved but we’re not sure at which point- definitely not this year. 

@enthusiasticsaver - personal spends are a completely new concept for us.  I earn well and ML has a good Occupational Pension (no state pension yet) and a good salary before that and we have just spent without thinking and, as per @foxgloves ”spendy” years, just saw credit as an extension of that.  My parents had a completely different attitude and were never in debt so not sure where I got the habit from. I do think the personal spends are going to be very important in this process so always happy to hear about it working for others. 

Thanks for popping by @jwil. 

I’m really impressed by the survey stuff and the potential for extra income.  I know I won’t look into this at the moment as work consumes most of my mental energy.  I also don’t want to muddy the tax waters for myself in the next few years as I am a PAYE and a self- assessment person and that is complicated enough 😱. I also have some small pension stuff to sort out alongside an NHS pension. But something I would look at in retirement I think. 

All of your contributions are so gratefully received - it gives me things to think about and things to look forward to. 

Sigh…..I always intend to write a short and succinct post.  Never seems to work 🤣🤣

L x 

Cheery_Daff

I'm not very good at short and succinct either 😂😂 No advice on skincare here I'm afraid. I generally go for a wipe with a wet flannel and some @ldi moisturiser 🙄😂 Not sure my face is a good advert for the benefits of that but it's certainly cheap 😂