DFW Diary - any and all advice/support greatly accepted!

Starlett

Hello to anyone choosing to read... Thanks


I posted a couple of months ago when I got hit by a light bulb! Made some major changes to my life, including moving house to somewhere cheaper (I was paying over £1000 per month on rent!!!!) :rolleyes:


2-months on... I'm still not doing brilliantly, but I'm getting there, and it seems as though my expenditure is now within my income... hurrah! Step 1 eh?


So, I decided today that I needed to focus and GET RID of this weight round my neck of ridiculous amounts of debt... I don't think I'd even mind as much if I had something to show for it... but other than straight teeth (£4,000 pounds worth of straight teeth I hasten to add!!!) I have nothing to show for it all!!


So, here is my new SOA - I would love your comments and advice because I've run out of ideas how to improve further!!

Monthly Rent - £725 (inc all bills)
Mobile 1 - £50 (my OH is in Australia, and it's cheaper having 2 phones!!)
Mobile 2 - £40
Petrol - £200
Food - £80
Parking - £20
Overdraft interest - £6
Personal Loan - £356.11
Lloyds CC1 - £150 - min payment
MBNA CC2 - £100 - min payment
MSDW CC2 - £100 - min payment

Outgoing - £1,827.11

Incoming - £2,160
Difference - £332.89

Debts:

Overdraft - £988.90
Personal Loan - £5,311.90 (rate - 1.7%)
Lloyds CC1 - £5,105.81 - (rate - 2.21%)
MBNA CC2 - £3,524.81 - (rate - 1.87%)
MSDW CC3 - £3,957 - (rate - 1.39%)

Total Debt - £18,888.42

My plan is to clear of my OD first (because the delight that is my bank suggested that they might give me a bigger loan on a lower rate if they could see an improvement in overdraft because I am ALWAYS in it!!). So using the difference of £300 or so a month should be able to clear that in 3 months!


That’s the plan, but I always seem to end up NOT having the excess?! So today I started a diary and I will log down everything I spend, see if I can see what's going wrong! (I’m up to £1.10 just on snacks today… I had no idea, so that’s stopping!)


I also am looking to up my income!! Have just signed up for a second job; childrens entertainer at parties over the weekend, they pay £70 for 2 hours – not bad!! But just not regular work so we’ll see how that pans out – due to start my training next Friday (fingers crossed for that)


So that’s me… I’d really appreciate your support and advice… like everyone I have up and down days… today's an ‘up’ but I know I’ll be needing you guys on the ‘downs’!!


Starlett x

Oh, and I'm going to sort through my stuff this weekend and sell everything... even my soul if I have to (although the OH has told me I can't sell my body because that belongs to him... but by that logic, his body belongs to me, therefore - OH body also for sale!! LOL :rotfl: )

poorandindenial

Starlett wrote: »

Hello to anyone choosing to read... Thanks


I posted a couple of months ago when I got hit by a light bulb! Made some major changes to my life, including moving house to somewhere cheaper (I was paying over £1000 per month on rent!!!!) :rolleyes:


2-months on... I'm still not doing brilliantly, but I'm getting there, and it seems as though my expenditure is now within my income... hurrah! Step 1 eh?


So, I decided today that I needed to focus and GET RID of this weight round my neck of ridiculous amounts of debt... I don't think I'd even mind as much if I had something to show for it... but other than straight teeth (£4,000 pounds worth of straight teeth I hasten to add!!!) I have nothing to show for it all!!


So, here is my new SOA - I would love your comments and advice because I've run out of ideas how to improve further!!

Monthly Rent - £725 (inc all bills)
Mobile 1 - £50 (my OH is in Australia, and it's cheaper having 2 phones!!) (its even cheaper phoning for free on skype if he has access to a PC;))
Mobile 2 - £40
Petrol - £200 (I don't want to sound rude but why do you drive so much in London?? - we have a 24 hour public transport system, is there any way you could ditch the car?? what bit do you live in, are you way out in zone 6 or something - I am zone three and pay £90 plus a month)
Food - £80 (and this is for the month!!! even the OSers could learn from you!! - very well done)
Parking - £20
(You also need to factor in car tax, insurance and maintenance and MOT etc as you need to budget for this through the year)
Do you have a landline or home internet?? (is that in the £725) - same for TV licence

Overdraft interest - £6
Personal Loan - £356.11
Lloyds CC1 - £150 - min payment
MBNA CC2 - £100 - min payment
MSDW CC2 - £100 - min payment

Outgoing - £1,827.11

Incoming - £2,160
Difference - £332.89

Debts:

Overdraft - £988.90
Personal Loan - £5,311.90 (rate - 1.7%)
Lloyds CC1 - £5,105.81 - (rate - 2.21%)
MBNA CC2 - £3,524.81 - (rate - 1.87%)
MSDW CC3 - £3,957 - (rate - 1.39%)

Total Debt - £18,888.42

My plan is to clear of my OD first (because the delight that is my bank suggested that they might give me a bigger loan on a lower rate if they could see an improvement in overdraft because I am ALWAYS in it!!). So using the difference of £300 or so a month should be able to clear that in 3 months!
Beware consolidation loans, if it comes to considering one please come back and post about it - there are HUGE pitfalls depending on what sorts of debts you are covering with them and whether you can resist the temptation of the credit that they free up)

That’s the plan, but I always seem to end up NOT having the excess?! So today I started a diary and I will log down everything I spend, see if I can see what's going wrong! (I’m up to £1.10 just on snacks today… I had no idea, so that’s stopping!)
Excellent plan - this made a huge difference to me and made me realise what my relationship with money was and also made me realise the value of money

I also am looking to up my income!! Have just signed up for a second job; childrens entertainer at parties over the weekend, they pay £70 for 2 hours – not bad!! But just not regular work so we’ll see how that pans out – due to start my training next Friday (fingers crossed for that) - excellent, more money always good move - good luck with the new venture


So that’s me… I’d really appreciate your support and advice… like everyone I have up and down days… today's an ‘up’ but I know I’ll be needing you guys on the ‘downs’!!


Starlett x

Oh, and I'm going to sort through my stuff this weekend and sell everything (good plan, I should learn from you - I am just too flipping lazy)... even my soul if I have to (although the OH has told me I can't sell my body because that belongs to him... but by that logic, his body belongs to me, therefore - OH body also for sale!! LOL :rotfl: )

Hi there - just a few random comments and suggestions from me in purple

Starlett

Thanks Poorandindenial,

I live in Zone 2 but sadly have to drive to Borehamwood for work, and then the midlands to see my family!! It's a company car so I don't have the other normal expenses which is good I guess.

We have got a landline at home (I don't use it because it's in the living room, so no privacy) and I need to get the net sorted on my PC at home, it is included in the rent I'm just not connected to it at the moment!! Will get round to that!!

Thanks for the advice on the consolidation loan... I will come back when / if they offer me one and solicit some views!!

Starlett x

poorandindenial

And when you are online and skype-ing, you will be able to speak to each other via webcam for free, much more personal than a mobile phone call (in fact, as personal as you want to make it!!;))

jo1981_2

ahh the joys of borehamwood!! thank god for peacocks & lidl

lisabell

Hi

Just wanted to pop by and wish you luck with your new diary and will be popping in and keeping an eye out to see how your doing.
Good luck

beanielou

Hope the wee job works out.

Starlett

Morning all...

Thanks for your comments and wishes of support!! It means a lot! :beer:

Well this weekend I went to see my parents who are in the Midlands and I fessed up to my mess!! (I was really dreading it!! I feel like a complete idiot for getting in this mess and I want them to be proud of me... bit difficult when I'm not even proud of myself!!! :rolleyes: )

Anyway... they were great! We agreed that I should find a job back in the Midlands and move back home (I'll pay them nominal rent so I don't feel like a complete !!!!!!!!!!!!) and the difference that I save can go onto my debt!! Hurrah!! :T

So the job hunt 'up north' commences!!

Anyone in the Midlands looking for an HR Manager? :rotfl: LOL!!!

So that's my little update!!

Oh, and the spend diary, not too bad... except I ruined it this morning with a very early start (4am) and I bought a coffee... I wish I was better in the morning!! :mad:

I'll keep you posted!!

Starlett x

embarrassed_about_my_debt

Well done on starting your diary, i found mine to help with random ramblings and keeping me on the semi straight and narrow!! dont post alot on people's diaries but this is on my subscribed list so i will keep checking back!

Well done for confessing about your debts, its the one thing i've never been able to do to my parents. I might tell them one day when i have sorted it out

The move home sounds like a good idea with the saving in rent and petrol etc you will be able to get rid of your debt in no time! :j :T

Starlett

Happy Monday to you all!!

Well, my diary is turning out to be a little shocker!! It's amazing how the little things add up!! I've spent (since starting my diary) £23.47 on nothing really!! I have some tights and that's really all I have to show for my spending!! Although thankfully I'm learning, and my no spend days are on the up!!

Also made a scary move... I handed in my notice at work today so that I can move back to the Midlands and live with my parents (reducing my rent to £250 - aren't parents great!!) So 3-months notice start today!! MUST find a job in the Midlands now!! ha ha!!!

But I'm feeling really optimistic!!

I'll keep you all posted on how it's going!

Starlett x