How thrifty can a thrifty forumite called ThriftyMissus be?

beanielou

So when do you think you’ll be DF? 

Thriftymissus

Thank you @beanielou, I reckon October/November at the latest. I think there’s a good chance of sooner, if everything goes to plan though,  and I have money available, I will follow a monthly direct debit schedule and any extra earned/not spent if I continue to be so thrifty, I will be thinking hard about whether it would be better earning interest by additional saving in the meantime.

CrazyBee787

I have just read your diary, you have done an awful lot on your own, pat on the back to you..well done keep it up. You will nail that debt. Sympathies for your losses, especially so young in life. Wishing a you a big warm restoring hug. Also Since you are getting close to getting rid of that debt, it might be worth thinking about after...such as Mortgage freedom, or saving an EF, it doesn't hurt to think about the future and what else you might want to achieve as you have done so well so far XX

Thriftymissus

CrazyBee787 said:

I have just read your diary, you have done an awful lot on your own, pat on the back to you..well done keep it up. You will nail that debt. Sympathies for your losses, especially so young in life. Wishing a you a big warm restoring hug. Also Since you are getting close to getting rid of that debt, it might be worth thinking about after...such as Mortgage freedom, or saving an EF, it doesn't hurt to think about the future and what else you might want to achieve as you have done so well so far XX

Thank you @CrazyBee787, that’s very kind of you. I’ve been saving money alongside reducing debt — I’ve not spent much yet this year, 3 months in, my debt has no interest on it so I’m now paying off the renaming amount in monthly direct debits and putting money into regular savers as well. Because my biggest debt was to HMRC I’ve been doing my best to increase my freelance work to cover it as well as finding new work. Most important of all is that my emotional health has improved loads. That’s priceless. X

Thriftymissus

I wanted to make myself accountable with this diary and am happy to have made massive strides with paying off debt. I have around £4,000 left to pay which is taken care of to be gone by October with direct debits. I’m also paying random small amounts when I can. I feel like a dieter who lets themself believe everything will be amazing when they’re a couple of stone lighter as I’m feeling a bit flat, well pretty down actually when it comes to finances, despite paying off a little over £20k of debt in two years. So I’m posting here again to show myself what I’ve achieved with this (in secret, not sharing I’ve managed this with my partner) matters and is worthy of note. 

At the moment I:

am feeling anxious around money 
am reflecting on what ‘could have been’ if my life hadn’t been hit by so many devastating close bereavements and time away from running a small business.
comparing myself with other people and how much material wealth they have and being harsh on myself about this 
finding it a little hard to focus on work but kicking myself where it hurts to get on with it 🤣

So, for balance, here are some positive financial realities for me to reflect on.

I have over £20,000 worth of leads at work to get my act together and follow up.

I have very small monthly outgoings. I am not at all materialistic and by far value experiences over stuff.

I have a small part-time job alongside my freelance work which is a caring community role that I genuinely love, even though the pay is pants. 

I have billed more three times for freelance work this month than I did in January this year.

Throughout paying off my debt I have been able to plan travel at bargain prices and have had some wonderful happy times in short breaks away these last months. I have booked more holidays for the coming year, shopping around, getting deals and Cashback etc, often dumping an airport transfer as part of a package to jump on a public bus instead. 

Since my husband died young years ago, I have brought up two children juggling a very tight budget, with yellow sticker shopping, sensible spending and an appreciation for things money can’t buy. I once sold a big load of stuff from home and paid for a holiday in Spain for the three of us, we still smile at the memory of the stay eBay bought!

I’ve had 20 NSDs in April and had 26 in March. 

My grown up children have solid, rewarding roles making a difference after the stress of studying and graduating through Covid, and earning what I consider very decent salaries. I’ve been able to support them when they’ve been out of work.

I have spreadsheets detailing income and expenditure as well as one for new client opportunities at work. This is massive for me. 

I’ve not bought any clothes so far this year or spent on make up, toiletries etc as I have loads kicking around. 

I am in a privileged position to continue to save money each month to earn interest as well as paying off debt with no interest on it.

So yeah, go me. I’ll aim to revisit my diary as my emotional health remains a bit wobbly, and think of more financial positives to add.

In the coming days I need to sort 

getting all paperwork and appointment in place to finalise my own lasting power of attorney 

Make progress with a long-standing money admin task that has been lingering for years and could bring in a bumper refund for me — but anxiety tells me I’ve left too late now so I will be kicking myself.

Thriftymissus

I edited my post as it was banging on about how uncomfortable I felt at being given financial advice from a ‘marmite’ firm of financial advisers after seeking help to find old pensions from what I thought was a free public service — feeling very foolish as I can see now it’s clearly a commercial scheme to get you to talk to them 🤦🏻‍♀️

Thriftymissus

I’ve had a solid couple of days, saving money through not spending, selling stuff online and liberating a lovely relative of loads of clutter they were wanting to get rid of. Excited to get it listed and help them out with what I raise. I’ve paid a few extra pounds on top of my usual direct debits off my credit card. I’ve boxed up £12 of books to send off and have sorted some mileage claims. 

I’m already thinking about Christmas but only because I spent what I consider a nightmare amount welcoming and cooking for 8-9 the last couple of years. I’m not doing it 3 years in a row x 

my debt free date is currently October but I reckon I can knock a couple of months off that hopefully, biggest difference would be me pulling in some more actual freelance work instead of taking so much time on selling low priced items online so I need to make this my focus. 🤦🏻‍♀️

jennypennysaver

@Thriftymissus you're doing amazingly! I've bookmarked to follow your inspirational journey. 

Thriftymissus

jennypennysaver said:

@Thriftymissus you're doing amazingly! I've bookmarked to follow your inspirational journey. 

Ah, thank you that’s very kind.

Thriftymissus

I’ve been hit by another £1,400 HMRC debt, but I’m feeling in a good place mentally to contact them with words to the effect of what in the name of complete disaster is this? My other HMRC debts are going down ahead of plan but this feels like a recurring bad dream, I won’t say nightmare as I’ve had to cope with much worse in life. So plan is to arrange repayments by getting in contact after the Bank Holiday. Overall, my plan has to be bring more better paid freelance work in and after Bank Holiday will chase interested potential clients like a rat up a drain pipe, there are some really encouraging ones, not to mention those owing me money for work already completed (I do charge up front where possible but my industry is notorious for late payers.)

also my admin, invoicing etc has been pretty poor in the past. It’s got much better.

I have the following outstanding:

£75 from November  (but I initially thought I’d invoiced when I hadn’t, 60 days payment terms)
£550 from November (but I initially thought I’d invoiced when I hadn’t) 
£400 from April 
£200 from April  
£850 from a higher amount charged, being paid in instalments. 

I have other sums due but not overdue and have every confidence they should be hassle free. 

I’ve done an inventory of food I have in and am planning no spending for at least 2 days. I’m also taking better control of what I eat, for the sake of my health. 

I’ve worked out I have around £700 worth of clothes and other items to sell online. I’ve put some aside to sell for Christmas. It feels like a bit of an overwhelming job to get it all listed at the moment but I need to just get on with it soon.