This year shall be the year!

HoplessCase

Hi everyone,

I have been coming here for a little while and as it is the new year I have decided to be brave and admit that I am truly rubbish with money! I am hoping by posting this here I will actually start to take it seriously. My debts aren't huge but they seem to be getting worse. :eek:

I will post a SOA and would appreciate any ideas. But most of all I would really just like the encouragement and to hear that it is possible to gain control

Here are my debts:
Overdraft: -2000 (ony -1750 agreed by bank so paying massive fees)
Credit Card £ 1200 (0% until Feb, looking to swap cards)

My Income:
Job: £1538.58

My outgoings:
Rent: £617.50
Electricity: £40
Telephone: £12.73
Council Tax: 72.43
TV License: £9.90
Contact Lenses: £6
Mobile Phone: £27.57
Bus Pass: £50.50
Lottery: £8-10
Healthcare: £28
Gym: £25
Mag subscription: £14.50 (6 month gift to my mum for xmas)
Medical Treatment: £140
HSBC credit card: ususally about £50

Total: £1104.13

I spend various amounts of food, occassionally next to nothing, other times £60 in a month if I do an online shop. This month I am doing the Grocery Challenge to spend £15 a week on groceries.

Sorry for the ramble!

MissEyre

Welcome!

Congratulations on deciding to get your finances in order, always lovely to have another new bod on board

EverTheOptimist

Hi there

Firstly welcome (and you're not rambling)

You have def come to the right place, You will get some great advice, help and support from everyone here.

I'm sure some more experienced DFW's will be along soon, but a couple of things:

Could you cancel the lottery and gym until you are back on track?

And have you tried to keep a spending diary to see where the extra money goes cos you seem to have about £400 not accounted for, although I'm sure that includes your food. It's amazing how much we spend without realising.

I set myself a weekly budget, and don't take any more money out of the bank that week and then i can either reduce my OD or pay on other debts. rather than just dipping in each day and just frittering it away.

ETO
x

mummytofour

I withdraw a set amount each week and stick to it.. sigh! The amount for me includes food money, petrol money, money for dhs lunches plus an extra 20 quid for things that come up sometimes I save this up and buy myself something nice I got a fab new coat for 25 quid reduced from 50 in the sale and I had saved the money from the weekly cash money. bargin!
Monthly I pay all my bills by dd and leave that money in the back, I then have savings for
Holidays
Xmas
Birthday
car repairs and insurance
other (house hold stuff. like new bedding or something)
Savings
Clothes

Good luck with your plan, the thing to remember is when u hand over ur hard earned cash is what u are paying for worth it? Like my current diet each time my dh offers me chocolate I weigh up weather the calorie count is worth it for the taste.

MoneyGypsy

Welcome,

can you get the elctric down by turning off lights, things on stand by, etc.?

Lol.

HoplessCase

EverTheOptimist wrote: »

Hi there

Firstly welcome (and you're not rambling)

You have def come to the right place, You will get some great advice, help and support from everyone here.

I'm sure some more experienced DFW's will be along soon, but a couple of things:

Could you cancel the lottery and gym until you are back on track?

And have you tried to keep a spending diary to see where the extra money goes cos you seem to have about £400 not accounted for, although I'm sure that includes your food. It's amazing how much we spend without realising.

I set myself a weekly budget, and don't take any more money out of the bank that week and then i can either reduce my OD or pay on other debts. rather than just dipping in each day and just frittering it away.

ETO
x

Thanks for the response. I am doing the gym through the loophole recommended by this site so if I drag myself to the gym one more time a week it will be free... fingers crossed on that! The lottery may be a little optimistic though!!

The weekly budget idea is great. I know in theory I should have enough money to get by on but it goes on things that seem like a bargain or eating out...and sadly it all seems to add up and surprise me everytime! :rolleyes: But I am going to keep a closer eye on things from now on...

HoplessCase

mummytofour wrote: »

I withdraw a set amount each week and stick to it.. sigh! The amount for me includes food money, petrol money, money for dhs lunches plus an extra 20 quid for things that come up sometimes I save this up and buy myself something nice I got a fab new coat for 25 quid reduced from 50 in the sale and I had saved the money from the weekly cash money. bargin!
Monthly I pay all my bills by dd and leave that money in the back, I then have savings for
Holidays
Xmas
Birthday
car repairs and insurance
other (house hold stuff. like new bedding or something)
Savings
Clothes

Good luck with your plan, the thing to remember is when u hand over ur hard earned cash is what u are paying for worth it? Like my current diet each time my dh offers me chocolate I weigh up weather the calorie count is worth it for the taste.

Thanks for the tips I am hoping I can split savings between things when I get a bit more on top of things as I think that would be really useful.The budget thing is good and I think I will aim for £35 a week as then I will see how much things are costing me! If I spend it is gone!

And if I can save it towards things when I don't spend that would be fab! I was thinking of putting a pic or list in my purse of things I want (like my own flat, a beach holiday) and hopefully that will remind me what I am sacrificing when I open my purse to buy another 'bargain' top! :T

HoplessCase

MoneyGypsy wrote: »

Welcome,

can you get the elctric down by turning off lights, things on stand by, etc.?

Lol.

Thanks MoneyGypsy. I try to remeber this, even started chasing my flat mate around when she leaves lights on!! lol. :rotfl: