Flo 2.0

Hello everyone!

It is a new year and a new diary.

My previous diary, entitled 'Flo's Debt Free Diary' started on 6/12/15 when I was about one bad decision away from financial ruin. I didn't realised what it was called at the time, but it was clear I had had my 'Light Bulb Moment'.

My credit card and overdraft debt at that point was £5150. I prioritised paying off my debt but by the end of 2016 after 4 months of unemployment it had crept up to £5196.92.

In 2017 I tried a different tactic. I stopped spending. I stopped myself buying 'things' and instead could only spend money on the following approved categories (outside of standard bills and the food budget):

Postage and Packaging
Clothing Maintenance (dry cleaning, reheeling shoes, fixing clothes)
Social
Homeware
Work Expenses
Travel (Day to Day)
Travel (Visiting)
Gifts
Health

I was not completely perfect and did end up buying things from the 'contraband' categories. BUT in 2016 my spends on 'stuff/things' was over £2000 and in 2017 it was £400.

This strategy worked and I was able to pay off over £3000 of debt, which was a combination of the credit card debt and some money I owed my long suffering OH. This included clearing my £1000 overdraft.

Because I have now paid my credit card bills for this month I can say my credit card debt is now....

£3935.

It is spread across two 0% balance transfer cards, but I am half way through my offer period with them, so I have 11 months left on one and 12 months on the other. I am not optimistic I will clear the balance before the time ends, this is because so far I have been extremely cursed on the job front.

So, onto the job situation.

I am 28 years old and I have never had a full time permanent contract role.

I got into debt because of years of zero hour contract jobs I couldn't seem to get out of (but to be fair no one was forcing me to spend money on clothes either). For the last 2.5 ish years I have been primarily working at a University on various fixed term contracts.

I am currently working through a temp agency and I may have this role I am currently in for 3 months.

I am relatively intelligent, very hard working, but I have the confidence of a diseased pigeon and rarely have the guts to make an application and frequently look at job advertisements and tell myself I cannot do the job.

In 2017 I started a role I thought would be my dream job. It turned out to be a nightmare and I was signed off work for 4 weeks with stress, anxiety and depression. Mental Health will be a big talking point on this diary. Although I returned to the role I was effectively let go when my probation period came up.

I pretty much have the debt busting thing down. I know what to do, and I am going to live the 'no spending' (for the most part) way of life until my debts are paid. But I am on minimum wage, so will earn less than £1000 a month and will have to be strict with budgeting.

I also owe my OH £1814 which has to be paid back this year. This is made up of money I borrowed off him when I was out of work for 2 months at the end of 2017 so that I could pay my bills.

So once again my debt is back to about £6000.

I am starting a new diary because I do feel like a new person, I feel like I have finally found a way to live frugally and my mental health is better then ever.

My goal this year is to save up an emergency fund. This will be very difficult.

I wanted to be debt free before I am 30, but I am not sure if that will happen.

New Year, New Diary, New Flo.