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LzzyIsGod
Posts: 129 Forumite

I have lurked for a long time on this forum, then joined and lurked (and lurked some more). Maybe should have gone with an Adams family reference for the title but ho hum I'm here now.
I think I'm ready to start a diary even though I've had one running through my head for months as I had my light bulb moment back in October (2024)
My "moment " compromised of getting my ostrich head out the sand, taking control and properly looking at my money. Ive noticed that I can be incredibly diligent and frugal in many ways/areas but utterly spend happy in others and it's those moments (amongst other reasons) that have put me in the position I'm in.
I think I'm ready to start a diary even though I've had one running through my head for months as I had my light bulb moment back in October (2024)
My "moment " compromised of getting my ostrich head out the sand, taking control and properly looking at my money. Ive noticed that I can be incredibly diligent and frugal in many ways/areas but utterly spend happy in others and it's those moments (amongst other reasons) that have put me in the position I'm in.
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Comments
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Hi LzzyIsGod
I had my lightbulb moment in October (just in time) and have found keeping a diary is very helpful, especially when life throws a curveball and I feel like I’m not making progress fast enough.
A SOA is always useful as the DFWbers are great at spotting gaps in your budget and suggesting ways to cut back.MBNA 111.80/13997.47
Santander 245.19/10550
Nationwide 20/460
Very 943/943 paid off 01/02/25
Santander OD 0/2900
Nationwide OD 100/200
Mortgage 17959/125194
EF 250/1000
Declutterred via Vinted 44/2025
NSD Jan 6/15
SPC2025 #11
52 wk envelope challenge #6 53/cash 6/virtual
Debt repaid 2025 658.65/38650.60
MFW 2025 13.72/107800
Make £2025 in 2025 57.60/2025
Friday Fiver 15/260 virtual pot, 10/260 cash
- - - -
What matters is how we live and love and how we spend our dash. (L Ellis)1 -
Thanks for the welcome!
Nintud your diary is one I've been following quite closely and I've found quite inspiring.
I've done a SOA although I don't feel quite ready to share it yet but my outgoings when I started were definitely exceeding my incomings which I was just ignoring up to that point tbh. Despite that my credit rating was pretty good (I've never missed a payment) and so far I have:
- creatively shuffled everything credit card related onto 0% cards so the minimum payments are easily covered and hitting the overall debts.
- I have 1 loan @ 13% which repayment wise is manageable. It's gradually reducing the interest so looks encouraging from the start of the year total to now.
- properly culled unnecessary subscriptions/spending to make the spreadsheet balance.
Since I did this I've cleared £848 off the cards and £230 off the loan so currently overall debt is £36479.
That's the bad news. The good news is I have a pension, and I have savings in terms of an emergency fund of £1k which is readily accessible. I also have 16k in (less accessible!! Probably why they are still there!!!) savings trust funds. So I CAN save, I just need to budget and spend accordingly month by month.
Ive given myself 4 years to dig my way out of this hole without touching the savings - this is partly as I know my car will ultimately need replacing this year or need money spending on it and that savings pot is the contingency. Also I want to do this myself because otherwise I won't learn and I'll be in the same position in 10 years time.
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Welcome! I've just come out of lurkdom too and started my diary, must be something in the air.....
I'm exactly the same as you in that I can be so frugal, to the point of being unbearably so - even though I say it myself!! But then can have a blow out and go mad.....so it's one thing or the other. I definitely need to find some balance in 2025!2 -
Justcrackingonwithit said:Welcome! I've just come out of lurkdom too and started my diary, must be something in the air.....
I'm exactly the same as you in that I can be so frugal, to the point of being unbearably so - even though I say it myself!! But then can have a blow out and go mad.....so it's one thing or the other. I definitely need to find some balance in 2025!
2025 is the year I grow up and manage my finances like a proper adult. 2028 is the year for being debt free1 -
Justcrackingonwithit said:Welcome! I've just come out of lurkdom too and started my diary, must be something in the air.....
I'm exactly the same as you in that I can be so frugal, to the point of being unbearably so - even though I say it myself!! But then can have a blow out and go mad.....so it's one thing or the other. I definitely need to find some balance in 2025!
I can be super frugal too. Even more so when I actually have savings to protect. Apparently it’s a Scorpio trait; spend when broke and scrimp when not.MBNA 111.80/13997.47
Santander 245.19/10550
Nationwide 20/460
Very 943/943 paid off 01/02/25
Santander OD 0/2900
Nationwide OD 100/200
Mortgage 17959/125194
EF 250/1000
Declutterred via Vinted 44/2025
NSD Jan 6/15
SPC2025 #11
52 wk envelope challenge #6 53/cash 6/virtual
Debt repaid 2025 658.65/38650.60
MFW 2025 13.72/107800
Make £2025 in 2025 57.60/2025
Friday Fiver 15/260 virtual pot, 10/260 cash
- - - -
What matters is how we live and love and how we spend our dash. (L Ellis)1 -
God absolutely. I will wince at the price of some things yet think nothing of buying a round of drinks and blowing money in the pub 🤣 Although I am putting those days behind me and doing Mindful Spending only. I find it easier at the moment to have many different pots of money - if everything is in one account I can't keep track of everything which causes me no end of stress.
Today I had an essential spend in terms of petrol from my newly allocated monthly petrol fund (funded by actual money and not on the credit card). Resisted purchasing sweets for the car so better for the bank balance and my waist line.
Stuck my name down for some extra overtime at work (had started to do this) but just need to be careful I don't go completely over the top and end up burning myself out which has happened before. Last months pay was just basic salary so won't be any over payments for the debts this coming month unless I spend less than I've allocated in my different pots. In some ways this might be a good thing so I can see if my system is going to work without the overtime.2 -
Ah 1 other thing I did do today was face up to 1 debt I hadn't originally included when I started to address all this - The Overdraft.
I think because I have bounced and lived in it constantly for so blooming long I wasn't even recognising it as a debt if you see what I mean - it was just always there. Reading the boards here shocked me into addressing it as I hadn't really realised it could be revoked quickly and stupidly i also hadnt realised quite how high the charges are actually are. It's costing me a lot per month - probably the amount I was planning to try and pay it off per month. I had looked into adding it to my loan but having read here and worked out the offered APR and cost over even the shortest period of time I quite quickly stuck that idea firmly in the bin. I'm also quite keen to see that loan keep reducing so increasing it seemed totally counterintuitive.
For Christmas I used my 1 (cleared!) credit card which offers cash back but squirreled away the cash to pay it off per purchase as I used it (yes i know - another pot but it does match pound for pound the amount on the card) I actually have enough in there plus some of the emergency fund to clear the overdraft completely. I think I'm going to do that and then stick the card balance on 0% for 27 months so I can still pay it off but not get hammered on the interest.
This will only work if I don't start using the OD like it's my money again. It's the only account I have that I have an active OD on and it's an account that I now don't use the card for (it's tucked away at home along with the CCs used for 0%). I'm hoping now I'm more switched on to the mess ive got myself into that that won't happen again.3 -
Definitely pay off the overdraft. The interest rate is horrendous.MBNA 111.80/13997.47
Santander 245.19/10550
Nationwide 20/460
Very 943/943 paid off 01/02/25
Santander OD 0/2900
Nationwide OD 100/200
Mortgage 17959/125194
EF 250/1000
Declutterred via Vinted 44/2025
NSD Jan 6/15
SPC2025 #11
52 wk envelope challenge #6 53/cash 6/virtual
Debt repaid 2025 658.65/38650.60
MFW 2025 13.72/107800
Make £2025 in 2025 57.60/2025
Friday Fiver 15/260 virtual pot, 10/260 cash
- - - -
What matters is how we live and love and how we spend our dash. (L Ellis)2 -
It's done! Money got transferred today and OD now has gone!!! Account is in the black and has enough to cover all planned upcoming payments for the first time in lord knows how many years.
I feel a mixture of elation at clearing it and sheer utter panic at the sight of the halved emergency fund. I have however submitted my expenses today for work which will get paid in January pays so that's good - these can be very variable so I am not going to rely on these going forwards.
I've done an end of month round up, especially prudent as we move into the new year but because I started in October sorting myself out little by little (without really realising that was what I was doing ) I haven't got official starting figures which looking back is a bit of a missed opportunity.
Having looked back through all the statements it was actually worse than I thought at the time (and that was shocking enough) but overall including everything it's looking like £39,161. (Edit - actually possibly even higher tbh)
I have taken a little hit in terms of transfer fees but I'm thinking of it as a hit now for long term good and I have nothing hidden debt wise that'll bite me on the bum. I know there will be unexpected life things that pop up but I'm mentally prepared for them to happen.
I've totted up things as they stand right at this Very Moment at £37,591 so £1570 paid off.
I know there's a long way to go and I know it'll be more of a roller coaster than an easy path as that's just life ..... but I finish this year more switched on and less ostrich like. I've made a start towards getting rid of the flipping debt and I go into 2025 atleast feeling more in control than I have done before.
Happy new year to all7 -
Happy new year
Waking up today with bank balances in the black was a new first for me, for a moment I was gloriously happy and relieved .
As with everything the euphoria is dimmed by the sheer mountain left to climb (I wont ever say its a journey, I am not an X Factor contestant). I need to bottle the feeling of that moment for future reference. But to start is better than not starting, to do something is better than doing nothing and HOPEFULLY this time next year I'll feel even better.
Today overall has been a lovely day - the yoofs of the house were dragged out their pits for some fresh air which I also needed and rather than takeaway (which is generally a red letter day treat here but i was being badgered for) I got reduced pizza from the local shop for £1.50 each. Everyone relatively happy all round.
I think a good early night is needed, too many late nights recently and I need to double check the Mr T delivery booked for tomorrow. I keep toying with the idea of trying a cheaper alternative but I always feel time poor and delivery does stop me buying unnecessary stuff.
I'm doing overtime at work this weekend but its also an (adult) family birthday and im in the dog house for being at work 🙄 I'm apparently now hosting dinner Saturday night. This is still the cheaper option than the meal out or takeaway they were suggesting, which would be fine but I know from experience we always end up picking the tab up for everything from these nights and my insides were screeching noooo when it was being hinted at. And saying no was tough but necessary today and I survived!
I've no idea if anyone is actually reading this but if they aren't that's ok as its more for me than anyone. For the days when I read back I want to say Lzzy you've got this, it'll be ok.6
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