One Step At A Time - My DFW Diary

EmptyPurse

I've been reading a lot of the threads here over the past couple of weeks and have decided that it's about time I started my own DFW Diary to keep me on the straight and narrow.

My debts have mounted up over the years due to a mixture of low wages, loneliness, low self esteem, poor financial management skills and the odd hiccup along the way (including a short period out of work). Overall my debts mount up to c.£12,000 (will have to check the exact figure on MS Money tonight).

This isn't the first time that I've tried to tackle my finances. However, I've always failed in the past. This time I'm determined to do better. but I really do need lots of help & support as I'm suffering from very mild depression at the moment so find it hard to get motivated some days.

I've gone through my expenditure with a fine toothcomb and have drawn up a monthly budget which I think is realistic. I've tried to get my budget to come in under my monthly net salary so that there's a safety net if I overspend in any area during the month. Some of the items are high - e.g. gym/healthcare and internet - but I can't cancel them because I'm under contract. I want to start sticking to my new budget from my next payday - 15th June - but am starting to practice budgetting already.

Any thoughts/comments/tips gratefully received!


Monthly Budget
Rent £675
Contact Lenses £24.95
TV Licence £11.75
Charity £3
BT Line Rental £11.75
Electricity £27
Broadband £18.99
Mobile £15
PruHealth + Gym £80
Council Tax £78
TalkTalk (landline) £3
Home Contents Insurance £13.28
Credit Card 1 £120
Credit Card 2 £150
Credit Card 3 £70
Christmas Savings £25
Season Ticket: £65
Groceries: £100
General expenses: £150

Total: £1615 (net monthly salary is £1672)

phantom9999

Do you know what makes up the £150 general expenses, or is that just an estimate?
If you don't already do so, a spending diary so you can see where you may be able to cut down on bits & pieces might be useful.

Good Luck with the budgeting!

EmptyPurse

phantom9999 wrote: »

Do you know what makes up the £150 general expenses, or is that just an estimate?
If you don't already do so, a spending diary so you can see where you may be able to cut down on bits & pieces might be useful.

Good Luck with the budgeting!

I've kept a spending diary for the past month and £150 seems to be roughly the right amount to cover going out/shoe repairs/haircut/presents/travel to visit friends/work clothes/makeup etc. It's hard to break it down any further as different things take priority each month. If I've got three presents to buy that month or a wedding to attend I'll cut back on the number of times I go out. Alternatively, if I don't go out much that month then I tend to use the money to get my shoes repaired/dry cleaning done etc.

I've had mixed success with my budgeting efforts today. On the plus side I've switched my expensive Oystercard to a monthly train-only ticket and have started cycling to the station - even though it was raining. How impressive is that?

On the minus side I ran out of milk for breakfast *again* and didn't get organised on the packed lunch front, so have ended up buying stuff in town. Not good - that'll be the best part of a tenner down the drain. But every time I do that now I'm makng myself take it out of my 'fun' account so that I feel the pain - if I waste money unnecessarily on meals at work then I'll just have to miss out on a social activity at the weekend. Hopefully the message will get across eventually.....

4littleone

Hi, well done for starting a diary :beer:

It will sink i promise, it's taken me a while but i'm getting there and i'm sure you will as well.
Are you ebaying and have you looked on things like the old style board for grocery and recipe tips?
The "make £10 a day challenge threads are good as well.

Verbatim

Good luck with your quest and I'm sending you loads of virtual motivation. It certainly looks do-able from your soa but the tricky bit is sticking to it! Do you plan meals in advance and write shopping lists based on said plans?
looking forward to seeing your progress.

EmptyPurse

Verbatim wrote: »

Good luck with your quest and I'm sending you loads of virtual motivation. It certainly looks do-able from your soa but the tricky bit is sticking to it! Do you plan meals in advance and write shopping lists based on said plans?
looking forward to seeing your progress.

Thanks!

I did try meal planning but it doesn't really seem to work for me; I end up buying lots of food at the beginning of the week and then not using it for one reason or another. So I'm trying an alternative idea: shopping like my grandmother. Each morning I decide what I'm going to eat that evening and the following day based on what's in the fridge/freezer. If I've used up all my veggies then I'll stop at the greengrocer on the way to work to get what I need. I've set up a completely separate account for food spending so that I can keep a really close eye on what I'm spending. If I find I'm overspending then I'll have to try something else to keep me on the straight and narrow.

One of my worst habits is worst habits is putting things off - paperwork especially. So one of the main reasons for starting this diary is to hold myself accountabe for my actions

Lucifa73

Hi there. Well done on starting a diary. I tried to do the DFW thing without one for a few months but found I wasn't really sticking to it so started a diary a few weeks ago myself.

You might be able to save a little bit on contact lenses (unless you've got a specific issue that requires a specific lens). I pay 21.33 a month for fortnightly disposables with Boots and I know you can do it cheaper with e.g. Specsavers - it might be worth shopping around to see what deals are out there. You may also want to budget for new specs on a regular basis in case your prescription changes?

The grocery challenge is a great thread and even if menu planning doesn't work you may get some ideas to build up a stash of snacks in the freezer or bulk cook meals when you are in the mood?

Good luck with it all.

Luc73

jak

Deffo check out the contact lense thread on here. Lots of great ideas. I'm sure you can get them cheaper- even factoring in check ups.
J
X

EmptyPurse

Will definitely look into the contact lenses. I have to have torics so they're more expensive than normal and I like having them delivered monthly at home. The only cheaper alternatives I've come across so far want me to pay for six months' worth in one go, which I just can't manage. Also my current plan means that I get a 50% discount on new glasses, which I haven't come across elsewhere. Any suggestions?

EmptyPurse

Right now I could weap. I've just opened up my credit card statement for last month and got a rather nasty shock. It's gone up by £790. Just over £130 of taht is work expenses. The interest is roughly £90 - I'd completely forgotten to factor that in. And the rest is money that I blew on random things whilst trying to spend my way out of a broken heart. Bloody hell. How am I ever going to get debt free? Whatever money I chuck at my debts is just a paltry drop in the ocean. And the worst thing is that I still need to keep spending - this week I've got a wedding present to buy and a dress for a friend's wedding on Saturday. I have no choice about either - I've put on so much weight lately that nothing in my wardrobe fits. I've tried the charity shops but no luck. When, oh when, are things going to start getting better?

Verbatim

Oh shucks EP,

Sorry to hear that. When do you get the expenses from work? can you get them to cover the interest or at least pay up front in future so you don't have future interest charges on account of work?

Shame about the wedding expenses too but i hope you have a great time. And your sig shows you have reduced the debt since your LBM. As soon as you've got current spends under control and not sticking it on credit I bet the debt will start to tumble.

Goodplan with the food buying too.