Accountable

Chocolatefund

I have a calender hung up on my fridge.  I call it my No Spend Day calender.  Every time I buy something, even food, I write down the cost on that day.  If I have a NSD then I put a big cross through it with a very satisfying 'NSD!'

It's very motivating on a daily basis to keep the momentum going. And then at the end of each week and month count how many no spend days I did.

I also have a notebook where I write down everything I spend, along with a section of 'Money Saving Wins' and 'Money Saving Setbacks'.  It's almost like a financial journal.

Scott_Weiland79

Pinknails101 said:

Thanks for all the comments & advice 😊

I’m going to get the emergency fund sorted first, as like everyone has said, at least that way it will stop any reliance on credit.

I’ve set myself up some “pots” in my Monzo account, one for Diesel, Christmas etc… and I’ve set up a Savings Account with my Chase for my Emergency Fund.

Really anticipating payday coming around, nervous but excited, it’s a bizarre feeling, but I really just want to get started.

 

I’ve removed apple pay from my phone, and I’ve deleted all my cards out of my wallet except for my Chase – which is what I will use as my weekly allowance in case I ever forget the debit card itself.

Paid an extra £11.85 towards my Monzo Credit Card today (the 11.85 was leftover from last weeks allowance), meaning that Septembers payment will be £150 68.

October’s will be the big hit; as that will be over £400 ☹ But it’s got to be done.

NSD today! Woohoo! Although, I did nearly swing into Starbucks on the way to work this morning, however it was closed! So fate gave me my NSD today haha, and my credit rating has gone up 34 points since last month, woohoo! Little wins.

xoxo

Can I ask a question re Monzo do they pay interest on the pots?

I did have an account with Monzo in the past but closed it, I have an account with Chase and with them i have 5 savings accounts all of them pay interest and any cashback i get I can split between my savings. Just an idea as my chase savings pay 3.85 and i have a boost account that pays 4.85

Pinknails101

Finally been paid, it feels like it's been an eternity since I started this discussion with my plans. 

But all bills are paid, I've got my allowance for the month and I've put £500 into my emergency fund!

Need to make sure I don't go over my allowance, and under no circumstances dip into the emergency fund for nonsense.

Bonus though, I haven't spent anything extra on the CC since starting this, nor have I added it back into Apple Pay, so little win there with some self control.

Had a letter from my HA, my rent is going up approximately £40pm as of October, so will have to do a little re-jig of the finances next month.

In regards to the Monzo pots, they don't pay interest, but because I'll be emptying them each month I figured that made more sense than having multiple accounts per say?

I do have a Chase savings account for the Emergency Fund which pays 3.85 interest.

Hope everyone is well

xoxo

MFWannabe

You can also earn rewards if you spend from your Chase account 
I normally put my allocated amount for food and fuel into my Chase account and spend from there 

overhauler

Just wanted to pop on to say I have followed your diary

your last post was very positive and it looks like you have had that shift of mindset/lightbulb moment and will go from strength to strength 

I look forward to watching you make those steps towards a debt free future 

RisingPhoenix1

Hello from another 32 year old people pleaser who plans to give herself an allowance  

I'm the same as you, I'll work better if I know what I have to spend as a weekly amount rather than monthly as I tend to spend it all at the start then dip into other stuff to get through the month. 

Just as a little thought I've opened some 'Boosted Pots' with Zopa, you can give 7, 31 or 90 days notice to access your money. So I have them set up at the minute for a camping festival I've got next year, Christmas next year and my Car Insurance that will be due in April - it'll stop me touching the money for things I don't need. I won't be paying into them until January/February but they're there ready 

Also the same as you I've just decided to start saving these things, so it'll be a little expensive for Christmas this year but easier for next year I'll be following along and cheering you on!

Pinknails101

It’s lovely to see comments where others say they’re following my diary; it does make me smile  

I thought I would do a little mid-month update…

Firstly, I had about £750 in my Emergency Fund… Then mini me had a trip with school to go abroad; is it extortionate? Yes. Does she want to go? Yes. Can I afford it? Well technically yes but it might put my plans on the back burner a little… However, I don’t want my mistakes to stop her from experiencing these things. So, me and her dad are going halves… so we’re both paying £100pm up until January. Hope the teachers have a nice holiday…..

Secondly, since taking my Credit Card off my Apple Pay I haven’t touched it once! So I decided to pay the Credit Card off in full! Woohoo! However, the money came out of my Emergency Fund. Booo! So I’m sad to see it go down so much but I feel like it was the right thing to do. 

Emergency Fund currently has about £200 in there… Now I know I said I was going to get the £1000 in there first, and then start paying things off, but it was just one of them things that I really needed gone for my own sanity!

I’ve just had a look at my bank accounts and I’ve managed 7 no spend days in the past 3 weeks… I’m kind of annoyed at myself really, because I was looking at where I made the purchases, and some were starbucks, one was the cinema, etc etc.. Now I know everyone is entitled to have a life and enjoy themselves, but at the same time I’m a bit disheartened that its only 7 days – but then again, this is my first month trying to navigate all of this, and it know it is trial and error.

I think I might start a spreadsheet and write down every “nonsense” (as I call them) purchase - I'm sure someone suggested this before.. Hold myself accountable; that’s what the diary is called after all!

Bonus though, just been given a 5% pay rise at work, which is getting backdated in this pay packet from 01/09 – So will be nice to have some extra money this month, but it’ll just be taken off me in November with Tax Credits…

Dad has also paid a nice chunk on the Gas & Electric, so I don’t think I’ll need to top that up until December (hopefully).

Weekly allowance is going well (I think). Week 1 – spent the lot, Week 2 I had £10.16 left over and Week 3 I had £22.64 left over.

Just over a week until payday….

xoxo

wannabedebtfreemum95

You mentioned Monzo pots - you can get ones that pay interest! I think they’re with OakNorth and pay about 4%? We have 3 - one for birthdays, one for Christmas, one for emergency funds. They take one working day to pay any withdrawals but because I know it takes a day, I’m less likely to remove for silly spending. They’re under the “savings and investments” part of the app rather than the Pots bit. 

Sarahwithlove

I have normal monzo pots and savings pots. As wannabe said you have to give 24hrs notice so it makes you think twice about withdrawing from it. I use it for my sinking fund and have my emergency fund in am accessible savings account. 

Pinknails101

A long while since my last post, things up in the air at the moment.. waiting for the new council tax bill to land. Had a letter from my water telling me that my next 6 monthly bill has gone up (fantastic), so just waiting for the official numbers to re-jig my budget.

In other news, I've managed to reduce my car insurance (happy days) and I have paid off a couple of debts.

Savings.. not looking great, but on the right tracks.

Question, sinking funds... What do you all have?

I've got:

1. Christmas 2025

2. Car - anything car related, MOT, Service (ideally would like to save up to pay my insurance in full next year as well)

3. Mini Me - School supplies/uniform, trip money, Roblox *eye roll* etc.

4. Birthdays 

5. Holiday

If there's anything I want/need then I tend to just use my weekly budget (still trying to learn this properly!) Some weeks are great, sometimes not so great.

Any tips/recommendations would be grateful.

xoxo