Shaking off the debt

londoner2019

Good luck on your journey! You've done the hardest bit already.

Just to say that don't get too disheartened if your progress isn't as fast as you like. It's all about the mindset change, and that's progress in itself.

ShakeItOff

Birds - aren't they just! I can remember getting incredibly frustrated at British Gas years ago because I appeared to be something like £300 in credit, and then magically, after my call with them, it was about £1.82 and I just couldn't understand it.    I've not done my SOA yet, but it's a good shout.  I need to work out more realistically what I have been spending where, rather than just trying to pluck what I think I spend, and then I'll do my SOA. 

Joe - I have never heard of Tilly Tidying! It's on my list to go searching out  Thank you! Yes, an SOA is on the cards.  Funnily enough, Natwest reached out today about my overdraft costs and what support they could offer.  I'm always a bit hesitant to contact them, as I'm a salesman's dream.  I might muster up the courage at some point. 

Londoner - thank you! I think this has been my issue before - the needle just doesn't move as quickly as wracking up the debt does in the first place  But you are spot on - the mindset change has to be the important thing here, because that's what is going to make the difference. 

ShakeItOff

Today I have managed to get in to my Northridge account.  I have to say, I am impressed by how quickly they'd picked up my email and called me.  I've now logged in and confirmed that my car was taken out for three years, not the four I had thought.  It's a fixed 9.9% APR, and right now, I have 27 payments left to make. It also confirmed the balloon payment at the end.  That's a little too far out at the moment to worry about, so we'll park that for now (ha! park...).

Last night, I also signed up to YLive and SwagBucks to have a bit of a play around and see if that might be a nice way to build a little pocket money to throw at either debts or to put towards an emergency fund.  I completely realise and understand that this isn't big money, but it is something I can do of an evening, and every little helps, right?

I've also been thinking about more steps I can take, so here's a bit of a brain dump:

• Find out what the interest rates mean and understand them properly
• Check that my tax code is generally correct (as an ex-Payroll Manager, I really should be on this more than I am!)
• Look to see what remote bank/casual work I could do
• Diarise some checks for money transfer deals (I was looking at this for my OD currently, but sadly, I don't appear to be eligible for anything - first time for everything I guess)
• Set up my YNAB again (pay day task)
• Listen to debt management / frugal living podcasts (any recommendations - please let me know!)
• Have a declutter and put some stuff on ebay or Vinted 
• Meal plan and food shop properly
• Complete an SOA
• Total up 12 months of spends to analyse (really should be ahead of the SOA so I know what's going on, and not simply guess)
• No spend days
• No spend weeks
• Find out what Tilly Tidying is 
• Join a DFW challenge

I'm sure more will get added to the list as I progress. 

I have to say, while nothing has actually improved in terms of my debt situation in monetary value, I feel much better for getting some of this off my chest and writing it down. 

FootyFanDan

hey, just wanted to drop in and wish you luck in your journey. You have done the hard part which is acknowledge it and deciding to face it head on!. I think you have started really well

joedenise

Be careful if you contact the bank about your overdraft as they are likely to try and get you to take out a loan to cover it which isn't necessarily a good idea although it would at least be at a lower rate.

ShakeItOff

Dan - thank you, that's very kind

Joe - yes, this is what worries me.  I've done that before in the Times Of Old when I stupidly took out a loan to consolidate everything, but then didn't break the overspending habits.  Also, unhelpfully with Natwest, I never seem to be able to get the loans that you can pay off early without charges.  

ShakeItOff

I have a busy and spending weekend coming up. 

I had said I would take my Dad out for dinner this evening as part of his birthday present. I've looked ahead at the menu and know what I am planning to have, so trying to go as cheap for me at least as I can. 

Then I have my sister's hen do this weekend. Most of the weekend has already been paid for and I suggested lunch at our AirBnB some time ago to help with costs, rather than going out to lunch (as we are out for tea and lunch then following day). I just have to pay for food and fuel I think. It will have to go on the credit card though, as I don't have enough cash (bad budgeting). 

The wedding has been quite a large expense in itself to be honest, and as much as I am looking forward to the day, I will be glad when I don't have that to think about financially (dress, shoes, jewellery, hair and make up, accommodation, fuel, food, drinks, kennel costs for our dog, plus the hen do and travelling for suit fittings which aren't local). I am going to have to save a little for the wedding present, which thankfully is money for their honeymoon next Spring so I have time to set aside some cash. 

I'm not sure what I will get done today in terms of small steps. Maybe check my tax code, as it needs to be something quick - bit pressed for time today. 

ShakeItOff

Ok, so today's little win is that I remembered I had an outstanding expenses claim from work. I've submitted it with all the receipts for just over £80. I have submitted it early enough that I should have it in this month's pay. Woo! 

I've also checked the menu for tonight and found the cheapest thing that I will order for me. Good job I also like lime and soda 

ShakeItOff

So far, so good on the hen do. I used some Tesco vouchers that were in my app to bring down the cost of some of the shopping I had done for snacks and nibbles yesterday. 

This morning, I've checked my credit card balance to see what I am dealing with. It isn't pretty, but it could definitely be worse. I need to not buy any little trinkets or random crepe today. 

biggerpickle

ShakeItOff, like you I end up with a fraction of my pay every month that never sees me through the month, it's painful isn't it? I don't even feel like mine is frittered away on trivial stuff either but maybe it is - son#1 stung me for a golden arches meal deal on an inset day this week and son#2 stung me for a overpriced iced drink and cookie at the worst coffee shop chain while out getting his friends birthday present yesterday. My treat this week was £4 on some storage boxes for the black hole of the DIY stuff in the hall cupboard!

Good luck with your journey, I started my diary yesterday so I'll use your progress to keep me in check!

We've got this!