Cailbhinn's debt journey!

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  • Cailbhinn
    Cailbhinn Posts: 93 Forumite
    Katzen wrote: »
    Hello! Mind if I join you? Not a DFW myself but I find this a good place to hang out for motivation to be frugal and keep my money rather than fritter it away. How about posting an SOA? It seems like you're in a good place and can afford your debt, so to speak, but it might help you get things in perspective if you write it all down. Plus, who doesn't love to give a bit of advice and have a nose at other people's finances?
    Best of luck
    Katz


    Thanks so much for posting and please join in and comment. I don't think however a SOA would be useful in my situation as I never stuck to my budget - didn't even have one until a few weeks ago. Overspending in areas and not having an overview of my balances were the issue. I'm very lucky in that I have no commitments (family-wise) and have low outgoings other than my car whilst earning a really decent wage. I've never missed a debt payment and can quite easily overpay by £2-400 p/m, whilst planning for annual things and having savings (totally new concept!). It's just taken me 12 years to realise this.

    YNAB is a great tool and its all there in black and white - well green and red. It's scary actually realising that I could get rid of the CC debt in 2-3 years if I stick to my rather generous budget. Maybe that's another reason I feel I don't need to post a SOA? Embarrassment at what some may think are extravagant categories - car, entertainment etc.

    (Although as a nosey parker myself I know where you're coming from :rotfl:)
    Starting Debt (31 Oct 2016) - £12,956 | Current Debt (31 Jan 2017) - £10,465 (20% paid)
  • Cailbhinn
    Cailbhinn Posts: 93 Forumite
    edited 16 October 2016 at 8:04PM
    louby40 wrote: »
    ...I was making extra trips to the local Co-op...

    I was disgusted when i searched my online banking to realise I spent so much and supermarkets and also local shops. In addition to going to food places for lunch and dinner and just using my contactless card to pay for it. These £4, 5, 6, 7 pounds all added up to my monstrous food bills as above.
    I just started being really hyper aware of what I was buying and decided not to spend any more.

    This is it too. I have just chucked things into the basket without even looking at the price. Then I'm flummoxed as to why one bag from Te$co costs £40! Past few weeks have taught me to be more aware of what I am buying and also if i really need it.
    Using YNAB has made a massive difference.

    I agree. And I will be happy to be the poster boy of YNAB on my debt free date.
    And I've sold tons of stuff on ebay and started doing surveys which has helped with about £50 towards my CC.

    I don't really have anything to sell. However I take your advice of undertaking some surveys to add to my income. I did have a YouGov account where I once received money. And I have done some cash back things in the past.
    It all helps. But life must go on too - which I forget sometimes!

    Oh I don't think I have that problem as I have quite a comfortable life and also hav budgeted for that to continue :D
    Starting Debt (31 Oct 2016) - £12,956 | Current Debt (31 Jan 2017) - £10,465 (20% paid)
  • Smodlet
    Smodlet Posts: 6,976 Forumite
    Name Dropper First Anniversary First Post
    edited 16 October 2016 at 7:57PM
    Hi and welcome. Struggling with how one person can spend £400 pcm on food, even factoring in going out to dinner... think I used to do that in a previous life; it was so long ago I can't remember.

    What does any of that matter? The point is, you have had your LBM.

    If you want money saving ideas about food, there are loads on the Old Style board; I'm sure you have already found that.

    It sounds as if you can sort your situation fairly easily; you already know most of the basic stuff to which many new posters seem oblivious. "You can do it if you really want, you'll be free at last."

    Good luck with it all.

    P.S. How do you pronounce your name? Is it something like Caitlin?
  • Cailbhinn
    Cailbhinn Posts: 93 Forumite
    I was a bit disgusted with myself. Total laziness - and half the stuff got binned. £4 lunch meal deal at work = £90 p/m alone!
    Smodlet wrote: »
    P.S. How do you pronounce your name? Is it something like Caitlin?

    Ha. Was waiting for that to come up. Nope. Calvin - like Klein or Harris. It's Gaelic.
    Starting Debt (31 Oct 2016) - £12,956 | Current Debt (31 Jan 2017) - £10,465 (20% paid)
  • Katzen
    Katzen Posts: 535 Forumite
    Uniform Washer
    Haha! Gutted not to get to poke into your finances �� but it does sound like you are doing the right sort of 'stuff' to reveal to yourself where you're over spending and to reign it in.
    To be honest, surveys and stuff are great if you're either desperate or have lots of free time but if neither of those things apply you'd do better getting some extra hours or a second job. Cash back is worth it though, especially with Christmas on the way.
    Mortgage Outstanding Nov '16 £142,772.75
    Mortgage Additional OPs 2017 Target £4522.80/ Actual £865.00
    GC Feb 0/£200
  • Smodlet
    Smodlet Posts: 6,976 Forumite
    Name Dropper First Anniversary First Post
    Cailbhinn wrote: »
    I was a bit disgusted with myself. Total laziness - and half the stuff got binned. £4 lunch meal deal at work = £90 p/m alone!



    Ha. Was waiting for that to come up. Nope. Calvin - like Klein or Harris. It's Gaelic.


    My bad! Knew I'd get it wrong, did figure it was Gaelic, though, I'm not quite that dumb!

    Sorry, sir... Who is Calvin Harris? I've heard of Klein and, now, I've heard of you, fwiw. Glad to make your acquaintance, Cailbhinn.
  • -taff
    -taff Posts: 14,480 Forumite
    First Anniversary Name Dropper Photogenic First Post
    you can work out how much more adding 5,000 to your mortgage will cost you here


    http://www.thisismoney.co.uk/money/mortgageshome/article-1633416/Mortgage-monthly-calculator.html
    Shampoo? No thanks, I'll have real poo...
  • Cailbhinn
    Cailbhinn Posts: 93 Forumite
    Thanks taff. You read my mind. Did this last night looking at LTVs and the interest rates you get. Having a 15% deposit compared to 10% really improves these.

    Today my breakfast and lunch cost be around £1.50. Dinner tonight will be £2 odds so if I continued that over the month with a few treat days I should comfortably be in my food budget and the remainder straight to CC even if it is only a few quid. YNAB is brilliant for this budgeting and moving malarky.
    Starting Debt (31 Oct 2016) - £12,956 | Current Debt (31 Jan 2017) - £10,465 (20% paid)
  • Cailbhinn
    Cailbhinn Posts: 93 Forumite
    Smodlet wrote: »
    Sorry, sir... Who is Calvin Harris? I've heard of Klein and, now, I've heard of you, fwiw. Glad to make your acquaintance, Cailbhinn.

    Only the worlds most paid DJ at the moment and Scottish too. I remember buying his first album and seeing him in the Carling Academy in Glasgow before he was famous famous. Wonder if he'd give a wee sub to his namesake? £12,000 is nothing to him lol.
    Starting Debt (31 Oct 2016) - £12,956 | Current Debt (31 Jan 2017) - £10,465 (20% paid)
  • Cailbhinn
    Cailbhinn Posts: 93 Forumite
    Well unfortunately not a NSD today! Forgot I had made a donation and bought some badges off Poppy Scotland but £10.83 well spent. Dinner for tonight and tomorrow - £4.85. Hopefully tomorrow will be a NSD.

    In other news only finished three hours later than I should. Ah well, getting better!
    Starting Debt (31 Oct 2016) - £12,956 | Current Debt (31 Jan 2017) - £10,465 (20% paid)
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