Road To Financial Recovery

daisy_1571

There's your first guide for your percentages then, a percentage straight to the fun pot or the food pot or whatever the doing is that you want to do 😀

DD

xx

FootyFanDan

Today it officially got announced to the rest of the staff that I have taken the promotion :) - today has felt pretty productive and I have managed to get to a point where I know where I am with my current workload. I am glad it is the weekend though, I have had a very long week even though had day off Monday it has felt so busy. I had a wasted journey of 4 hours yesterday which didn't help either.

Finance wise we should reach payday with some spare. I have done a little top up shop, just to get us through the weekend. We bought a few treats and some drinks and will hopefully have a nice weekend. We really don't have much planned, although potentially cinema on Sunday. I will start looking at our budget for the month over the weekend too.

Hope everyone has a good weekend.

FootyFanDan

I've had a lovely relaxed Sunday, ended up been awake early for the F1 and then spent most of morning cleaning and sorting kitchen. We have needed to try create more space in there for a while, so slowly sorting through it. I forced myself to go out and get some fresh air, so took little one to the park and went and had a pint in our local pub which was nice. I've had lovely pie, chips and gravy for lunch and now ready to just wind down for the night, probably an early night. I won't have to be up as early tomorrow as no school run. I also prepared all my work clothes for the week ahead.

Payday tomorrow. I have sat and gone through the budget, we do have a trip to Scotland next weekend but it will be a short stay so won't be too expensive. I do love the idea of travelling away for weekends so would like to do this a bit more. When I was growing up I always saw learning to drive as an opportunity to be able to explore and have freedom, I feel I haven't really used that opportunity much.

I am hoping we can really start focusing on some financial targets, my missus brought up buying an home at some point, which I thought was totally off our radar so we will see what happens there. I don't think we discuss finances together as much as we probably could.

Official start date given for my new role is 7th April, although not seen the full contract yet.

FootyFanDan

That's the worst day of the week out of the way.. :D - and it is a shorter week too so no complaints. Today has actually been okay work wise. I am working through everything I can quickly to get everything in a solid place to handover the minute I can 😂. Although people (who are leaving) are already trying to push work my way. That is a problem for another day.

Payday arrived and we did have some left over, not as much as anticipated but £50 went into our sinking funds account. I topped up the various pots - food, petrol, bills and Orlando spending money pot. We've also topped up the breakfast club pot too. The food and petrol pots will be topped up again in two weeks, as will the sinking funds pot.

Hope everyone had a nice Monday.

FootyFanDan

Happy Friday all. I am so ready for the long weekend. Today has been a good day, we are away in Scotland for a day or so visiting family. It was an early drive this morning but wasn't too busy. We plan to go cinema on Monday whilst Sunday will be a quiet one. Yesterday I went out for a few drinks with an old work colleague so it was nice just to chill and catch up.

I finally signed my new work contract yesterday, so April pay will be at my new salary, plus I have some healthy overtime. I am hopeful that my current role will be filled quickly (rumour has it that it already has been). I need to work on an handover.

Finance wise, I need to start making some decisions about how I handle stuff moving forward. I have a few CC open that don't have any balance on them but I spent ages building up the limits. Is the better option to close them all down or is it better whilst I build up a proper emergency funds to maybe just have one open that card is not in any wallet but it is there in dire need?

Smudgeismydog

Personally I would close the CCs, it removes any temptation, and you are building a future where you don’t use them.

I have 1 CC which I use for online purchases only (for the extra protection), and pay it off in full every month.

FootyFanDan

In general I have got to a point where I just see no need for them, other than like you say having that extra protection for certain purchases. I think I am just so aware of how quickly it can spiral. I have always thought sensible use on one card would be the way forward, but one thing I am certain of is that I absolutely have no requirement for cards with the amount of credit limit I currently have access to.

I must admit I am quite impressed that I have managed to avoid the urge to buy the new latest gadgets. I have a strong enough salary to not need CC long term.

Smudgeismydog

Sounds like you have answered your question then!

Your determination shines through in your diary

Humdinger1

Congratulations @FootyFanDan! So well deserved. Being MSE does involve enjoying the present, as long as it's done mindfully. In my view you're balancing it fantastically. Onwards and upwards love Humdinger x

daisy_1571

Cc are 2 things - there's the psychological aspect of do you need them, can you control them etc

But there's also the mathematical uses. The section 75 protection, any rewards certain ones give, better rates when using abroad, certain organisations use the available credit balance against the amount of credit used to indicate whether they will approve or disprove a financial application (some like a good percentage, some dont)