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A New Year, A New Start

edited 30 November -1 at 12:00AM in Debt Free Diaries
42 replies 1.7K views
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  • Silver_QueenSilver_Queen
    824 posts
    Forumite ✭✭✭
    Managed to organise my Monzo pots today :A

    Personal
    1. Train Ticket Fund: I have a bit less in here than I should. Balance is £250 but should be £320. Will try to siphon off funds into here before next payday to make up the amount! Last year I was left short because of my poor budget choices...
    2. Parents Loan Repayment - this one is even more tragic. I should have £1,500 in here, but the balance is....£100. Really have to pull my socks up for this one. I have no excuse, only overspends.

    Joint Account
    1. Holiday Fund: always a priority for me because I make questionable life choices. £5 in there at the moment. The aim is to save £3,000 to go to Asia in 2021.
    2. Medical expenses: OH wears glasses and needs a lot of dental care. I also need a lot of dental care. £5 in there at the moment, and I keep getting sick too.
    3. Emergency Fund: £50 in there at the moment. Will be ramping it up, aim is to get it up to £500 before moving into new flat and up to £2,000 eventually.

    Having these physical pots have really helped me. I've always struggled desperately to budget, especially when it's in one big melting pot of money. I just see I have money and I think - great, I can have steak for dinner and book another holiday!

    Holidays are a real weakness of mine. In 2019, OH and I spent almost £4,000 on five holidays! :eek: and all the while I've been complaining that I don't have enough money to pay off my debts.

    Hopefully having a separate pot for it will make it easier to see exactly how much I'm spending, and make me really consider whether it's worth it.
    Debt Totals July 2019::
    [STRIKE]£350 Natwest Credit Card [/STRIKE]/ ]Now £0 (paid off and closed 04/2017) £15,500 postgrad loan from parents/ Now £7,000 £5,000 sister loan/ Now £0[STRIKE]£500 train ticket loan from parents [/STRIKE]/ Now £0 (paid off 16/02/18)[STRIKE]£2,000 Overdraft[/STRIKE] Now £0 (paid off 09/03/18) £1,967.83 Barclays 0% card Now £0
    Total £7,000
  • Dolly_RockerDolly_Rocker
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    Eighth Anniversary 2500 Posts I've been Money Tipped! Debt-free and Proud!
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    I keep all my savings separate so I know exactly what is where. I find that really helps me.

    It's hard not to book holidays, I was looking yesterday!

    We have to live aswell otherwise we would be miserable.

    Dxxx
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  • Purplemumof2Purplemumof2
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    Happy New Year and Happy new diary :)

    Well done on the new job (I can't remember if I did previously) and yay to the extra money.

    The Pots look good x
    Official DFW Nerd Club - Member no. 791 - Proud to be dealing with my debts
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  • Silver_QueenSilver_Queen
    824 posts
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    Happy New Year and Happy new diary :)

    Well done on the new job (I can't remember if I did previously) and yay to the extra money.

    The Pots look good x

    Thanks PMO2 :)
    Debt Totals July 2019::
    [STRIKE]£350 Natwest Credit Card [/STRIKE]/ ]Now £0 (paid off and closed 04/2017) £15,500 postgrad loan from parents/ Now £7,000 £5,000 sister loan/ Now £0[STRIKE]£500 train ticket loan from parents [/STRIKE]/ Now £0 (paid off 16/02/18)[STRIKE]£2,000 Overdraft[/STRIKE] Now £0 (paid off 09/03/18) £1,967.83 Barclays 0% card Now £0
    Total £7,000
  • Silver_QueenSilver_Queen
    824 posts
    Forumite ✭✭✭
    One of our goals this year is to buy a car. Seems like a silly decision living in London, but we've thought it through and it just makes more sense. Both OH and my family live outside of London and are quite needy...we tend to go visit them and help them out with housework, etc, at least twice a month. Train fare usually costs us around £100 per month to see them, and is a lot of hassle with travel times etc. In December, we spent around £300 in train fares! It would also be nice for us to be able to get away to the countryside more easily, we love it and it really brightens our lives to be able to run away for a couple of days.

    The car will cost slightly more than train fare but we think it's worth it. We plan to get a little city car that's cheap to tax, insure and has good fuel economy. Need to give it a little bit more thought still, but it will be a big help.

    I'm insured on my parents' car but I absolutely despise driving, whereas OH enjoys driving. It would be nice for him to be able to ferry me around again :)

    His grandma is getting on in age and when OH got rid of his old car a few months back, she convinced herself that he would never ever visit her ever again, and that she would die without him caring about her (she's a bit melodramatic). This is obviously not true and we've been to see her multiple times in the past few months, but she still worries about it.

    My older sister has said that if we get a car, she'll chip in £100 because she'd probably borrow it once a year or so. My parents might also chip in a little, since we'll be visiting them a lot and doing a LOT of errands for them.

    If we do buy a car, we'd get one for about £1k-£2k.

    To that end...another Monzo pot set up, car fund :)
    Debt Totals July 2019::
    [STRIKE]£350 Natwest Credit Card [/STRIKE]/ ]Now £0 (paid off and closed 04/2017) £15,500 postgrad loan from parents/ Now £7,000 £5,000 sister loan/ Now £0[STRIKE]£500 train ticket loan from parents [/STRIKE]/ Now £0 (paid off 16/02/18)[STRIKE]£2,000 Overdraft[/STRIKE] Now £0 (paid off 09/03/18) £1,967.83 Barclays 0% card Now £0
    Total £7,000
  • SiebrieSiebrie
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    1000 Posts Fourth Anniversary
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    "My older sister has said that if we get a car, she'll chip in £100 because she'd probably borrow it once a year or so. My parents might also chip in a little, since we'll be visiting them a lot and doing a LOT of errands for them."

    That seems a good plan, but I would also ask of your sister to refill the tank fully whenever she uses it, no matter the initial fullness of the tank. Same for your parents...
    Have you taken into account where you can park your car and how much that will cost?
    Wombabeluba 2020! € 25,63 = £ 19.00
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  • Silver_QueenSilver_Queen
    824 posts
    Forumite ✭✭✭
    Siebrie wrote: »
    "My older sister has said that if we get a car, she'll chip in £100 because she'd probably borrow it once a year or so. My parents might also chip in a little, since we'll be visiting them a lot and doing a LOT of errands for them."

    That seems a good plan, but I would also ask of your sister to refill the tank fully whenever she uses it, no matter the initial fullness of the tank. Same for your parents...
    Have you taken into account where you can park your car and how much that will cost?

    She'll only borrow it for long journeys and will always fill the tank, that's our arrangement for our parents' car too :)

    I don't mind doing errands for my parents and they won't be driving the car, they have three of their own! If we make a journey especially to help them with something, they'll give us petrol money.

    There's free parking near our flat at the moment, and the new borough we're moving to do very cheap monthly parking passes for residents :)

    Insurance - £30/month (we got a quote), road tax - about £2 per month, parking - about £40 per month, petrol - £50/month, upkeep - OH will do most of the upkeep since he loves cars, but will budget £50/month.
    Debt Totals July 2019::
    [STRIKE]£350 Natwest Credit Card [/STRIKE]/ ]Now £0 (paid off and closed 04/2017) £15,500 postgrad loan from parents/ Now £7,000 £5,000 sister loan/ Now £0[STRIKE]£500 train ticket loan from parents [/STRIKE]/ Now £0 (paid off 16/02/18)[STRIKE]£2,000 Overdraft[/STRIKE] Now £0 (paid off 09/03/18) £1,967.83 Barclays 0% card Now £0
    Total £7,000
  • Silver_QueenSilver_Queen
    824 posts
    Forumite ✭✭✭
    I've been asked to either send some important documents across the country to my new job so they can verify me (certificates, passport, etc) or drop them off at the local office 5 minutes walk from me. Seems like a no brainer, but I don't think I can get the time away from work during their opening hours...Might have to cough up for special delivery, which will be about a tenner and won't be reimbursed. I'm really nervous about sending these docs in the post, though. Got to explore my options, maybe a courier would be better?
    Debt Totals July 2019::
    [STRIKE]£350 Natwest Credit Card [/STRIKE]/ ]Now £0 (paid off and closed 04/2017) £15,500 postgrad loan from parents/ Now £7,000 £5,000 sister loan/ Now £0[STRIKE]£500 train ticket loan from parents [/STRIKE]/ Now £0 (paid off 16/02/18)[STRIKE]£2,000 Overdraft[/STRIKE] Now £0 (paid off 09/03/18) £1,967.83 Barclays 0% card Now £0
    Total £7,000
  • Silver_QueenSilver_Queen
    824 posts
    Forumite ✭✭✭
    Got my new phone yesterday, really chuffed with it! Idiot me wiped it before re-setting all my internet banking though, so I have a few jobs in the next few days.

    1. Phone First Direct to reset my app
    2. Phone HSBC to reset my app
    3. Chase up refund of £30 for a returned item from company 1
    4. Chase up Amazon gift card refund of £15 - I've already earmarked £5 of this for a new yoga strap so it'll be nice for this to show up soon!
    5. Post DBS check certificate to new job so that I can reclaim the expense
    6. Double check that my referees have given their references, and pack my bag tonight making sure I have all my documents to bring with me tomorrow to new job

    Speaking of which, I've just checked, and the salary for my new job has increased by £400 since I was offered the job! Hooray! It'll be an extra £20 a month, so not masses, but I'm not complaining about extra money!

    OH is now making tentative noises about becoming a lawyer too. He has a long history of working crappy jobs to support whichever girlfriend he has at the time (not me...) and basically stunted his career for 20 years making lateral move after lateral move to keep people happy. If he will be happier as a lawyer, I'm happy to support him - but it'll be expensive! Just the course fees alone will be £25k, not accounting for loss of earnings or the risk that he won't be able to get a training contract or pupillage at the end of it.

    Something to chew over.
    Debt Totals July 2019::
    [STRIKE]£350 Natwest Credit Card [/STRIKE]/ ]Now £0 (paid off and closed 04/2017) £15,500 postgrad loan from parents/ Now £7,000 £5,000 sister loan/ Now £0[STRIKE]£500 train ticket loan from parents [/STRIKE]/ Now £0 (paid off 16/02/18)[STRIKE]£2,000 Overdraft[/STRIKE] Now £0 (paid off 09/03/18) £1,967.83 Barclays 0% card Now £0
    Total £7,000
  • Purplemumof2Purplemumof2
    7.8K posts
    Forumite
    Part of the Furniture 5000 Posts I've been Money Tipped!
    ✭✭✭✭
    Yay to the increase in salary.

    Exciting times for OH, good luck to him

    Happy New Phone :) xx
    Official DFW Nerd Club - Member no. 791 - Proud to be dealing with my debts
    BC: £7070.00 :mad: Lloyds: £7850.00 :mad: MBNA: GONE :)
    Feb LTW 2/20
    PAYDBX 2020 #041 PD £298.03/£8000
    Xmas Pot £52.85/£500 ~ EF £280/£500
    20p Savers 2020 :) £2 Savers 2020 :) 50p Savers 2020 :) SPC 13 2020 #003
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