Goals and budgeting - my diary

MissG80

I wrote a beautiful post about my situation and at the end of it I cut up my credit card in triumph. I gleefully came back to press post and my thumb knocked the keyboard, pressing the back button and deleting the post.

And that, is how my diary begins.

Philliggi

🤣 im sorry, i do sympathise. Ive had similar happen to me, but this made me smile. 

I get the feeling your diary will be one ill enjoy. Good look with thedebt free journey. Whatever it may be 😁

FacelessNumber

Oh dear! Looking forward to a beautiful post when you have a chance to rewrite it! 

And well done on cutting up the card 😃

Lonelygambler

Welcome and good luck 

MissG80

Ha ha post may or may not be recreated in it's original state.

I'm only 9 pence down today. 

Firstly well done to everyone who survived Monday, we should all get medals regardless.

I put a lot (some) of things on Facebook, Ebay and Vinted to sell.  This is quite enjoyable once the items are uploaded and before the process of having to post them. The selling part is addictive! 

I had an enquiry about an item, the gentleman was running late to collect and gave me an extra £2, refusing to take the change. However I'd had pizza for dinner, so I am, on balance, 71p up. It was a fitness balance board I sold, so 'balance' seems fitting. I did miscalculate the pennies in my wallet so I'm actually 9 pence down. But it was an enjoyable exchange. I said it would help my overdraft and he said it would help his waistline.

Honestly my first thought was it's a fitness balance board, I think you have misunderstood it's purpose (I'd also written on my profile that I'd used it for physio to try and boost the sale). I then realised back at my flat that this was a flirtatious exchange, which is actually quite fast processing for my brain.  I just said great and went back inside. 

Sunday and Monday seem to the most popular days for the trio of selling apps. 

MissG80

Capturing the money facts before I pay it all off selling the contents of my flat on Facebook (joke, maybe about a third of contents)

Currently I owe: 
£6,300 - credit card one (Barclays) 0% for a zillion months
£1,500 - credit card two (Lloyds) 0% for several months
£1,050 - overdraft extortionate interest

MissG80

Back story in not such an exciting way, I'm a little uncomfortable with my debt levels.

I earn around 40k but I have been out of the pension scheme for over a year, living month to month, not making inroads. I'm lucky to have benefited from a 2.09% interest rate for 5 years which ends in October, currently looking at an increase to 4.5% plus have a car loan at £6.5k / £119 p/m so needing to get payments down. It's probably the most debt I've had and hasn't been going down. So it's about getting the debt down, getting control back and having a better relationship to money.

I've paid off one overdraft with Natwest (£400) and reduced the facility to £300. I've also taken 6 months interest-free on the mortgage through the mortgage charter scheme.

Next step - to reduce the overdraft back to 2019 levels (£250 interest-free). 

I'm a little unsure whether to hold money for the credit cards in a high-interest savings account for 6 months, it depends on how much I trust myself. Currently, not a lot. And I potentially could talk myself out of paying back the cards, so maybe not.

Things to be grateful for, current health.

MFWannabe

Have you done an soa? 

I think it would be a good idea to see where your money is going 
Being out of pension scheme is a very bad idea 

MissG80

Thinking of where else I can save, I could wash the car myself. Travel wise I can get a later train once a week and save £10. 

Food is the main place I fritter my money, I think I really need to focus on this.  The main issue is that I spend an absolute fortune on food because I am time poor.  A few years ago I went back over the statements and worked out how much I was spending and where on food. It was sobering. I did make some positive changes off the back off that so I think I need to do the same thing again.  I just need to budget, eat healthy and manage my time.  

FootyFanDan

Well done for acknowledging your position and wanting to improve that, food is also a place where I struggle so much! I think mainly through poor planning on my part and the fact food shopping isn't fun ha. I tend to poorly plan, know I need to go because we have no food and then just end up picking up connivence (unhealthy/expensive stuff). I promise myself next week I will be better prepared and then rinse / repeat the cycle. 

Wish you the very best of luck in your journey to a better & more positive feeling money place.

enthusiasticsaver

I would prioritise the overdraft and get back into the pension scheme asap. You are losing out on employer contributions and the tax rebates.