My 5 year goal!

Sardine82

So, I haven't been great with money lately and my spending has got the better of me, coupled with the fact I took my eye off the ball and didn't budget for my tax payment this month 😬.

I have managed to get it covered, but I need to pay attention to sort out my debt. In about 5 and a half years, my mortgages will be paid off. I am going to try and get that down to 5. But I need to sort CC and loan first 😬.

So this is going to keep me focused and accountable.

CC debt: £9050 (0% until ? - I need to check)

Loan: £7154.73 (30 payments left)

Total debt (excluding mortgage): £16204.73 😬😬

I have about £1400 in emergency fund savings which I will keep until CC rate goes up and I will keep contributing so I don't get caught short again. My aim is to extinguish the CC debt in 12 months...approx £750 a month. I am going to have to be strict, but I think I can do it.

Wish me luck!

vampirotoothus

Welcome and good luck. You have a plan which is a great start. V x

StardewValley

Following and cheering you along.

Chocolatefund

Welcome! That's sounds like a great plan.

Will be cheering you along 😊

Sardine82

Thank you.

I have had a couple of days contemplating while spending a few days away in Oxfordshire.

I did a survey that has sent me a £5 amazon voucher. I will save that for presents. Its hard part way through a month to start, but I am thinking of either a cash budget or opening a separate current account to help me budget. What do you all do?

Today I drive home. Tomorrow I will find 2 items to list on vinted to declutter my wardrobe/life 😂 small gains leads to consistency right?

Sardine82

Today I started the day hot and bothered and throwing a strop about everything 😂.

But ok now.. I sat down and planned meals for a week, went to lidl and now I have eaten, brain is back in the game. Currently sat with a cup of tea before sorting bottom of my wardrobe - I need to spend the summer decluttering life and work issues. I am tackling small parts every day, listing on vinted, donating to charity and regaining my sense of calm. Already got 2 bags for charity 😀

On the money front, paid my tax bill and taken out £30 cash for fun stuff this week. Anything left on Friday will be added to CC payment.

Keep enjoying the sun 😁

ArtyJ931

I started with a weekly cash budget but found it tricky as sometimes I needed to buy an online item or shops didn’t take cash (?!). So I now have a separate bills and “everything else” account. In my everything else account I have all my pots.

One of my pots is my monthly day-to-day spending pots which I use to transfer my weekly amount to on a Friday. I can’t budget using a monthly amount, it’s abstract and then it’s gone. Having a weekly amount for all day to day expenses works better for me.