TizerCat learns to stay debt free.

TizerCat

I am pleased to say that on 1st Jan 2025 I will be both debt and mortgage free.

However, this is the second time I have been debt free, and last time I was back with £20k of debt within 5 years. This time I must learn to stay out of debt and to save as I only have 8 years until I retire. 

lucielle

That’s exciting and not long to go. Welcome back (in a good way)
L

TizerCat

lucielle said:

That’s exciting and not long to go. Welcome back (in a good way)
L

Thank you Lucielle! I know what you mean...x  I must catch up with your diary and see what you have been up to. It sounds like you have moved?

TizerCat

Today was a good day. Spent most of it sorting out my fabric stash and looking to see what to sell. Took photos of some of it to put on eBay. 

I'm shocked at how much I have bought, over the last few years, trying to satisfy my ADHD dopamine craving with shopping. There is more than I can ever use and a lot that I no longer even like, so it will be good to get rid of some of it and get some money back.

I have a dilemma though regarding eBay. I set up a shop as it is easier to upload items in bulk and it was cheaper for selling fees. However, it is now free to sell as a private seller, so I am not sure it is still worth paying the £32.50 per month just for the convenience of having the shop. Decisions ...decisions .....

Went for a lovely stroll along the seafront with the OH and he treated me to a latte. No cake as on slimming world, although he did let me have a small bite of his (calorie free of course). OH paid as it is a NSD day for me 

Now sitting under a quilt in front of the log burner (first time on this autumn), watching old episodes of Morse and uploading the pics to eBay. 

TizerCat

Went to the all-day craft group that runs once a month, today. Volunteered to sew up some knitted squares to make baby blankets for charity, so that will keep me out of mischief this month! I love chatting to the other ladies and learn so much at this group. Most are accomplished spinners, weavers and knitters and very happy to pass on their knowlege. Today one lady was teaching a group how to use supported spindles and another was showing me how to do Sprang weaving, which I had never heard of before. Overall I felt it was £5 well spent :-) 

It does make me want to try even more hobbies though and I have to stop myself from looking for supplies online!

OH had already cooked dinner when I got home and then I fell asleep for two hours in front of the TV. 

TizerCat

Still tired after yesterday's socialising. Working from home was a struggle as I was trying to stop myself nodding off.so I listened to FrugelQueenInFrance on youtube whilst working.  OH and I had our usual coffee break in the greenhouse out of the wind, so I got a bit of sunlight.  Fell asleep at lunchtime and was late back from lunch again......luckily no one noticed!  Confirmation I need to be going p/t as soon as I can.

OH did the weekly shop this morning, but hasn't asked me for my contribution yet so today can be counted as a NSD :-) 

Managed to get the washing on I didn't do yesterday and put it out on the line. It might take a couple of days to dry but is preferable to the tumble dryer being on. 

A friend asked if I was going to the Christmas market at the weekend, but I declined as this is my first month of really controlling my spending and I don't want to fail straight away!  

Looked into changing back to being a private seller on ebay as I am just reducing my own stash, but the only way is to set up a new account and I wouldn't then have any feedback on it, so maybe I will carry on paying the monthly fee. One disadvantage is that I have to allow returns as a business and someone is sending something back as they have changed their mind which is a shame. They are the first I've had requesting a refund and I do wonder if being able to return stuff reassures buyers and encourages them to order. 

Have put the log burner on to make it nice and cosy this evening and am busy uploading more pics to eBay...i am so slow putting things on but it will be worth it in the end. 

Have a good evening wannabe's ! 

TizerCat

OH and I both, felt a bit blue today. Probably the dreary weather. I was woken up by cat at 6am and went downstairs only to fall asleep on the sofa and be 10 mins late for work again. Thank god I work from home!

Another NSD today although I did catch myself looking at books online. ADHD was difficult today as It is worse when I am tired. Probably why I was looking online as shopping gives a boost of dopamine.  Have decided no computer after 6pm and bed by 10 tonight, so only a few more mins on MSE.   

Can't believe it is 9 days since payday and I still have most of my wages left in the bank :-) 

lucielle

Well done on the wages staying put. Re eBay and fees, do you make enough and more each month to cover the fees?  If not I’d definitely go back to being a private seller. 

L

londoner2019

Well done on your progress and impending DF and MF date. Sounds like you have everything under control.

Do you know why you slipped back into debt after being debt free before? It's good to have those red flags and warning signs in mind.

It's impressive work! 

TizerCat

@londoner2019 Both times I have become debt free has not been through my own endeavours unfortunately. so I learnt nothing about budgeting or spending within my means. The first time I sold my flat and paid my debts off and luckily with my partner we were able to get a mortgage to buy a small house. This time my debts and the mortgage will be paid through an inheritance. 

My mistakes were

1/ I didn't close all of my credit cards off last time. I kept one for 'emergencies.'
2/ Things that were not really emergencies were put on it, along with some vet bills.
3/ I didn't clear the balance just paid the minimum payment so when a real emergency happened it started to stack up.
4/ Not really a mistake but I discovered I had ADHD after seeing a psychiatrist for my impulsive spending. I spend on 'bargains' when bored or under stress as a dopamine fix. It is like a drug waiting for a delivery.....then when the item arrives I need another fix. I get fixated on an idea or new craft and buy lots of second-hand books and all the supplies... then don't use them.

So this time I need to go cold turkey on the spending and start to save an emergency budget. All credit cards except paypal have been closed. Paypal will be shortly. I have one creditor to pay once they get back to me and the mortgage will be paid once the fixed rate ends at the end of December. 

I am so lucky to be in this position and feel that I have been given a second chance. I sincerely dont want to waste it so I have started following FrugalQueenInFrance on youtube and doing the zero balance budget this month and thought I would resurrect my diary on here. 

TizerCat

@lucielle I am covering the fees but I am only making the same again.... I might post a few things on my private account to see if I can get some good reviews on a private account.  Unfortunately one of my obsessions last year was to open an online craft shop on enay.. but I did more gathering of supplies than making things to sell ........... I also find it very time consuming and exhausting posting items to sell after working on the computer all day and dont have the big girl pants to sell in person !