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  • FIRST POST
    • DrSpendLittle
    • By DrSpendLittle 22nd Aug 17, 4:30 PM
    • 293Posts
    • 1,026Thanks
    DrSpendLittle
    Reducing Debt - being accountable and taking responsibility
    • #1
    • 22nd Aug 17, 4:30 PM
    Reducing Debt - being accountable and taking responsibility 22nd Aug 17 at 4:30 PM
    Hi everyone!

    DFW newbie here! Been a lurker for a while but have been so inspired by reading others' DFW diaries - it's literally all I've done this weekend! - that I decided to take the plunge and join in the fun. Now's the time. Had my LBM a few weeks ago and can't wait to get started

    So, a little about me before I state my financial situation and my goals:
    - a happy, healthy and engaged homeowner
    - settled in my career with a fairly well paid job & annual increment
    - looking at starting a family soon as time is ticking!
    - enjoys sports and the outdoors and a healthy approach to life
    - has just started using YNAB
    - has a 'secret' unsecured debt of just over £10k (2 x cc's)

    About DF
    DF is debt free but doesn't actively save. He seems to spend what he earns which isn't great since we have a tiny mortgage and lowish bills. He had family money passed on to him a few years ago on the advice of his mother's accountants - she would NEVER give it away otherwise. This dosh acts as a financial cushion for him .....and, admittedly, me gosh, it really has meant I've been a wee bit lacking in the old saving malarkey Time to banish this false sense of security!

    About DF and I's financials
    DF and I don't have a joint account. All bills / mortgage come out of his current account except car insurance and broadband/phone which I'm responsible for paying. I give him £465 every month towards bills (includes a deduction for car insurance) and he gives me half of whatever the broadband phone bill is. This arrangement is, on reflection, part of my problem as I have too much 'distance' from the reality of bill payments and direct debits etc etc etc I'm sure you all know the score....

    DF knows I have some debts but isn't really aware of the current status of my 'net worth' He's one of life's worriers so I am taking this DFW journey alone for now. I'm completely settled and happy with this idea and I have been managing it all on my own thus far, so no need to change. I got myself into this situation so I'll be getting myself out of it.

    Why the DFW diary?
    Well, we're thinking of moving home since we could take a few leaps up the ladder. Its time for our dream home. This has caused my LBM. I want my dream home and the only thing stopping me is my poor money management skills! Its also time to move. We've been here a while and have never fully settled.

    My interim goal?
    To clear £4K of debt by January so when we put the house on the market, my debt levels are lower. I obviously also want to make sure we can maximise our borrowing, so I want to demonstrate good money management skills and a good pattern of spending and saving.

    My overall aim
    But, more than this interim goal, I just want to be in control of my money and no longer feel guilty for spending it. I want to save up for things and have that lovely 'I deserve this because I saved for it' feeling when I buy something. I want to be responsible. And, I am here to become accountable.

    My plan of action!
    So....this diary is my way of sharing my story, being accountable for my actions, taking responsibility and doing all this whilst my other half is oblivious!

    I hope you join me on my journey and I look forward to joining you on yours.

    My current financials
    I'll post my current financial situation later today - got some work things to get done before close of play. Its been one of those 'working at home' days which have largely comprised of obsessing over YNAB and lurking on DFW diaries, oh deary me A hint of my procrastinating / self sabotaging ways......

    DSL
    Last edited by DrSpendLittle; 30-09-2017 at 9:20 AM. Reason: I'm a formatting perfectionist :)
Page 12
    • DrSpendLittle
    • By DrSpendLittle 15th Dec 17, 1:39 PM
    • 293 Posts
    • 1,026 Thanks
    DrSpendLittle
    Friday Feeling.....not!
    It's a WFH day today and I'm being reasonably productive. Hopefully, it will be a NSD too as I've got a curry from the freezer for dinner and don't intend on leaving the house. Lazybones. Having to catch up on work this weekend, so it doesn't really feel like a Friday!

    Yesterday we had an Oc4do shop delivered and my long-awaited Ik8a parcel arrived - I decided to pay for postage as it was a similar cost as fuel to drive there but, more importantly, it removed the temptation to Buy Everything in the kitchen/trinket/candle/photoframe sections .

    Expecting a few Xmas deliveries today that DF and I have ordered over the past few days.

    I ordered the final few stocking fillers for DF yesterday so my Xmas shopping is officially done! I need to tot up the total but from a rough guestimate, I've spent around £350 on the 7 people I agreed to exchange Xmas presents with. For the others we mutually decided not to give gifts. This is within my overall xmas budget of £420, which is to include fizz, chocolate and cheese.

    Bonus for today is I found 15 euros in a draw and then discovered I still have 8 euros on my travel money card! This is such a bonus as I now won't need to change £s to EUR in January for my work visit. I can just top up my travel money card using my phone app if I need any more cash and use 15 EUR cash to pay for the airport bus into town (which won't accept cards). Its the small things!

    DSL
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £2,529.99/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £1,263.28/£1,894.92
    Emergency Fund: £329.81/£500 (65.96%) | Total Debt Repayments: £5,359.34/£12,585.14 (42.58%) | LBM Debt Exposure: £13,915.17 | Average Monthly Repayment: £836.17 | Outstanding Debt: £7,225.80 | DFD: 30/09/18
    • DrSpendLittle
    • By DrSpendLittle 18th Dec 17, 10:59 AM
    • 293 Posts
    • 1,026 Thanks
    DrSpendLittle
    Sunny Monday
    Quickly checking in before I get stuck into the working day.

    The weekend was busy but rewarding. Ran a lot of errands on Saturday and caught up on the neverending laundry (how do just two people manage to create so much laundry!!). Managed to send all my various clothing parcels back - G4P are so annoying in sending orders out in multiple packages! Not much of the stuff I ordered 'worked' for me and my existing wardrobe, so I've sent most back and kept a few staples (long sleeve t-shirts and turtlenecks) as layering pieces which were only £8.49 each. I've still some money left over in my clothing budget to spend and have a few other things I'm waiting for to arrive. Hopefully, I'll find what I'm looking for and if not, I'll put the money aside for another day.

    Sunday was a work catch up day and I was rather productive in the end!! Then we watched some sport and had dinner, so a NSD for me.

    This week I want to get a work project at least 50% finished before Xmas, so I'm going to try and nail it! WFH all week so I'm looking forward to a relaxed end to the working year.

    I'm heading off to see family at the end of the week and will be away for at least two weeks over Xmas / new year. I will be adopting my annual self-imposed internet ban for these two weeks so I'll be going a little quiet towards the end of the week.

    DSL
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £2,529.99/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £1,263.28/£1,894.92
    Emergency Fund: £329.81/£500 (65.96%) | Total Debt Repayments: £5,359.34/£12,585.14 (42.58%) | LBM Debt Exposure: £13,915.17 | Average Monthly Repayment: £836.17 | Outstanding Debt: £7,225.80 | DFD: 30/09/18
    • enthusiasticsaver
    • By enthusiasticsaver 18th Dec 17, 12:55 PM
    • 6,614 Posts
    • 13,917 Thanks
    enthusiasticsaver
    You are doing really well and seemed to have grasped the rudiments of saving and budgeting really well. I like the feeling of being in control of my finances which is why I am a strict budgeted and saver and that is probably true of many other aspects of my life. I don't like getting too drunk or overwhelmed with work as that puts me out of kilter as I am not in control. Only a few days though before I don't need to worry about that any more . Have a great Xmas and happy and successful debt busting 2018.
    Debt free and mortgage free and early retiree. Living the dream

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages and Endowments, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • DrSpendLittle
    • By DrSpendLittle 19th Dec 17, 1:59 PM
    • 293 Posts
    • 1,026 Thanks
    DrSpendLittle
    Thanks Enthusiastic! Wow, you're sooo close to retirement! Hope you enjoy your last few days Have a wonderful Xmas and new year!
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £2,529.99/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £1,263.28/£1,894.92
    Emergency Fund: £329.81/£500 (65.96%) | Total Debt Repayments: £5,359.34/£12,585.14 (42.58%) | LBM Debt Exposure: £13,915.17 | Average Monthly Repayment: £836.17 | Outstanding Debt: £7,225.80 | DFD: 30/09/18
    • DrSpendLittle
    • By DrSpendLittle 20th Dec 17, 6:59 PM
    • 293 Posts
    • 1,026 Thanks
    DrSpendLittle
    Insurance Win!
    Remember when I told you DF and I hadn't switched our buildings and contents insurance since we moved in 10 years ago. Ahem.

    Well, after last month's amazing £200 saving on our building insurance, today I managed to save a whopping £343 on our annual contents insurance! DF can't quite believe it to be honest but I bloody can! It's actually with the same insurer as we had before but we went through a third party when we originally bought the house, so technically we're new customers. I basically added contents to my new buildings insurance policy and it saved about £70 on the equivalent separate policy purchase cost. MSE Win.

    This year, we've paid upfront on all our insurances - buildings, contents and car insurances - so it's been a very expensive few months, hence making only £358 debt repayments over the past two months and in January too. Still, it's all done now and I can look forward to having more spare ££s to repay debts and, after August, save into an 3-6 months of expenses emergency fund. Dave Ramsey-test.

    I can't wait to get these 'expensive' months over and done with and get back to my £1,000 debt repayment months.

    January salary, (paid at the end of January) will have my increment applied so I look forward to an extra £52.86 per month / £634.32 annually after tax and all deductions. Will just about cover inflation

    This will probably be my last post of 2017 as I'm on an internet blackout over the festive period so I wish you all a happy and enjoyable festive period. See you on the other side, debt slayers!

    DSL
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £2,529.99/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £1,263.28/£1,894.92
    Emergency Fund: £329.81/£500 (65.96%) | Total Debt Repayments: £5,359.34/£12,585.14 (42.58%) | LBM Debt Exposure: £13,915.17 | Average Monthly Repayment: £836.17 | Outstanding Debt: £7,225.80 | DFD: 30/09/18
    • DrSpendLittle
    • By DrSpendLittle 4th Mar 18, 12:35 PM
    • 293 Posts
    • 1,026 Thanks
    DrSpendLittle
    Well, Hello!
    Sneaks back in...

    It's been a while since I last posted. I've taken a couple of months off my extreme debt slaying, not for any particular purpose or with any motivation in mind, but I felt I needed a break from the gazelle intense focus.

    January was expensive as I had a big car service and a few trips away for work. February was okay but I changed up my skin care routine and invested in buying new products. We also booked our summer holiday so had deposits to pay. And we stock piled on fish oils (we don't eat much fish but take a reasonably expensive fish oil supplement) and vitamins (an extra boost for the winter months, which is paying off as we've had no colds / illnesses since April last year).

    However, the good news is I've been keeping on track with budgeting and YNAB and with paying off the debt. In fact, it's just normal to me now. It's not even 'keeping on track' anymore as I can't imagine spending more than I earn and not being able to reconcile my YNAB categories. My light bulb is an industrial 1000 mega watt shiner!

    My current debt status is:

    CC2 Balance: £7569.39 (whoo, below the 8K mark!)
    Car Finance Balance: £789.55 (whooo, below the 1K mark!)

    My current DFD is 1st October. I've pushed it back a bit from August because we've booked a summer holiday and that will cost me a few £000s (we like our summer holidays and take great pleasure in them. Its something I'm willing to spend my salary on).

    Also, I decided on an emergency budget. I got to the point where I wanted some savings. So, it's up to £660 and will be £1000 by April 1st. I'm still mildly reluctant to keep the money in my bank rather than paying off CC2 - I could be below the 7K mark if I did (!!), but I'm currently in a savings frame of mind so I'll run with it and see how I get on. I may, come September, just throw it on CC2 and be done with debt a month early. We'll see!

    Other updates? Not much, still not put the house on the market as we need to do some redecoration but we'll get to it soon.

    It's been 6 months since I start properly debt slaying. In that time, I've reduced my debt by £4,226,20. Insane.

    Because CC2 is interest free until June 2019 and DF now knows about my debt, the secretive keeness I had when I first started my diary 6 months ago has vanished. But, it's been replaced by a financial maturity that I wasn't expecting to have developed over the past 6 months. In fact, I almost take it for granted now. I think taking two months off being gazelle intense has been good - I've enjoyed meeting the minimum debt repayments, saving some and having the rest to spend on indulgent things like new beauty products, an expensive food shop or a couple of bargain pieces in the late January sales. It's given me insight into what my DFD will bring. I'm particularly enjoying the savings part!

    But, I'm back on it properly now. I want to be debt free by October. Challenged laid bare! I don't have any significant expenses coming up, aside from our holiday, so I'm hoping to reignite the fire of debt slaying once again.

    Look forward to catching up on others diaries over the next few days!

    DSL
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £2,529.99/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £1,263.28/£1,894.92
    Emergency Fund: £329.81/£500 (65.96%) | Total Debt Repayments: £5,359.34/£12,585.14 (42.58%) | LBM Debt Exposure: £13,915.17 | Average Monthly Repayment: £836.17 | Outstanding Debt: £7,225.80 | DFD: 30/09/18
    • enthusiasticsaver
    • By enthusiasticsaver 4th Mar 18, 12:41 PM
    • 6,614 Posts
    • 13,917 Thanks
    enthusiasticsaver
    I thought I hadn't seen any posts from you recently. Usually diary silence means the debt has risen so very impressed to see you are on target. Debt free in 2018 sounds great. Good news you have an EF and booked a holiday too.
    Debt free and mortgage free and early retiree. Living the dream

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages and Endowments, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • DrSpendLittle
    • By DrSpendLittle 4th Mar 18, 1:04 PM
    • 293 Posts
    • 1,026 Thanks
    DrSpendLittle
    Thanks Enthusiastic! Hows retired life? I hope you're living the dream
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £2,529.99/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £1,263.28/£1,894.92
    Emergency Fund: £329.81/£500 (65.96%) | Total Debt Repayments: £5,359.34/£12,585.14 (42.58%) | LBM Debt Exposure: £13,915.17 | Average Monthly Repayment: £836.17 | Outstanding Debt: £7,225.80 | DFD: 30/09/18
    • enthusiasticsaver
    • By enthusiasticsaver 4th Mar 18, 1:09 PM
    • 6,614 Posts
    • 13,917 Thanks
    enthusiasticsaver
    Thanks Enthusiastic! Hows retired life? I hope you're living the dream
    Originally posted by DrSpendLittle
    It is great thanks. I am very much enjoying being able to choose how I spend my time. Loving the non commuting in all this bad weather too.
    Debt free and mortgage free and early retiree. Living the dream

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages and Endowments, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • DrSpendLittle
    • By DrSpendLittle 6th Mar 18, 5:53 PM
    • 293 Posts
    • 1,026 Thanks
    DrSpendLittle
    Weekday mumblings
    Afternoon peeps.

    Had a fairly quiet and low spend (ish) few days. Yesterday I went into our local town and picked up a couple of online orders and then did a Waitrose food shop using my £25 voucher (from JL Partnership card points). Always nice to get free food. We needed quite a few store cupboard items so it wasn't an ultra cheap shop but the voucher helped.

    Today I've been out of the office for most of the day at a work meeting. Even though I'm on expenses and can charge my coffees and lunches to my employer, I still have to spend my own cash first and it's beginning to get a bit tiresome, with all the work trips I've been doing lately. So, today I decided to take a packed lunch to reduce spends but I couldn't resit the allure of a coffee. Only £3.05 spent, which isn't too bad! I also had to put £25 of fuel in my car but avoided the motorway services (£1.34 per litre for petrol!!!!!) and drove around on fumes until I found a cheaper petrol station (I think it was £1.16 per litre). I should have filled up before I left home but I forgot and then the queue in the petrol station before the motorway was backing up on to the road so I thought I'd wing it and fill up at my destination.

    Tomorrow I'm back out at work meetings, this time in the opposite direction and into town on the train, so I will have to pay for a ticket and probably a spot of lunch too. I also want to head into a department store whilst I'm in town as I need a colour consultation for a new foundation I'm thinking of getting. I'm not getting on with my mineral power foundation at the moment so I'm thinking of changing to a liquid based one and seeing how that works.

    DSL
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £2,529.99/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £1,263.28/£1,894.92
    Emergency Fund: £329.81/£500 (65.96%) | Total Debt Repayments: £5,359.34/£12,585.14 (42.58%) | LBM Debt Exposure: £13,915.17 | Average Monthly Repayment: £836.17 | Outstanding Debt: £7,225.80 | DFD: 30/09/18
    • DrSpendLittle
    • By DrSpendLittle 6th Mar 18, 6:06 PM
    • 293 Posts
    • 1,026 Thanks
    DrSpendLittle
    Average Debt Repayments - 6 Months On
    It's been 7 months since my light bulb moment and I was reflecting the other day on how far I've come.

    On 1st August (just before my LBM), my total debt exposure was £13,915.17. This figure included a overdraft, car finance and balances on 3 credit cards.

    On 1st March, this number was down to £8,358.94 which is a difference of £5,556.23 and represents an average monthly debt repayment of £793.74. Wow.

    These figures astound me. The one thing that stands out the most from my LBM and onwards is the feeling that I have never felt richer. It sounds strange to say, but I just feel like budgeting and giving every £ a job has created more headspace to think about deferring gratification and long term financial planning. This has in turn created an appreciation of money and, as Dave Ramsey would say, an understanding of how your income (with no payments) is your biggest wealth generating tool. I can't wait to have no payments and no outstanding balances.

    I'll restart my end of month round up at the end of March. I plan to pay around £1,000 off CC2 and get my Emergency Fund up to £1000 with March's salary.

    DSL
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £2,529.99/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £1,263.28/£1,894.92
    Emergency Fund: £329.81/£500 (65.96%) | Total Debt Repayments: £5,359.34/£12,585.14 (42.58%) | LBM Debt Exposure: £13,915.17 | Average Monthly Repayment: £836.17 | Outstanding Debt: £7,225.80 | DFD: 30/09/18
    • enthusiasticsaver
    • By enthusiasticsaver 6th Mar 18, 7:17 PM
    • 6,614 Posts
    • 13,917 Thanks
    enthusiasticsaver
    That CC2 is going down. Getting the emergency fund up to £1k is definitely a good idea. This will be your year I think.
    Debt free and mortgage free and early retiree. Living the dream

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages and Endowments, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • DrSpendLittle
    • By DrSpendLittle 7th Mar 18, 3:00 PM
    • 293 Posts
    • 1,026 Thanks
    DrSpendLittle
    Wednesday Wonderings
    Hi Peeps,

    Today has been a WFH day as my meeting in town was postponed. Nice not to have to drag myself on the train and spend the money!

    Not a NSD as I had to post a couple of parcels and then pick up a few treats from the supermarket for my colleagues tomorrow. However, I got everything on half price so it was a bargainous shop.

    Received an invoice for the annual property management charge that we always forget about (we own the leasehold with our neighbours). It's not too much so I've taken it out of the groceries budget for now and if I'm running short towards the end of the month, I'll shift some ££s from my EF.

    Other than that, not much to report on the MSE front. Not sure what to do for dinner as we haven't got anything in and it's too late to defrost something from the freezer (we are a no microwave household) so I'll have to think of an MSE friendly solution.

    DSL
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £2,529.99/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £1,263.28/£1,894.92
    Emergency Fund: £329.81/£500 (65.96%) | Total Debt Repayments: £5,359.34/£12,585.14 (42.58%) | LBM Debt Exposure: £13,915.17 | Average Monthly Repayment: £836.17 | Outstanding Debt: £7,225.80 | DFD: 30/09/18
    • DrSpendLittle
    • By DrSpendLittle 7th Mar 18, 4:44 PM
    • 293 Posts
    • 1,026 Thanks
    DrSpendLittle
    Just submitted £89 of expenses for approval, which I haven't accounted for as income in my future budget - a nice little amount to cover the unexpected property management charge and possibly my new foundation!
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £2,529.99/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £1,263.28/£1,894.92
    Emergency Fund: £329.81/£500 (65.96%) | Total Debt Repayments: £5,359.34/£12,585.14 (42.58%) | LBM Debt Exposure: £13,915.17 | Average Monthly Repayment: £836.17 | Outstanding Debt: £7,225.80 | DFD: 30/09/18
    • DrSpendLittle
    • By DrSpendLittle 8th Mar 18, 9:34 AM
    • 293 Posts
    • 1,026 Thanks
    DrSpendLittle
    Another £110 of expenses submitted!

    These were submitted to two other organisations I am working with, so I'm not sure how long they'll take to process but I reckon I'll have £20 of them by end of April and will likely have to wait until the end of May time for £90 as that particular organisation is sooooo slooooow with their expenses processing. Still, another nice little windfall that isn't budgeted as income and can be put into the holiday pot.

    In the office today, got a busy day of meetings and had a fairly hairy drive to work in the snow. Roll on spring I say!

    DSL
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £2,529.99/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £1,263.28/£1,894.92
    Emergency Fund: £329.81/£500 (65.96%) | Total Debt Repayments: £5,359.34/£12,585.14 (42.58%) | LBM Debt Exposure: £13,915.17 | Average Monthly Repayment: £836.17 | Outstanding Debt: £7,225.80 | DFD: 30/09/18
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 8th Mar 18, 10:06 AM
    • 1,476 Posts
    • 7,054 Thanks
    wishingthemortgaheaway
    Do you have any 'expenses slush fund' in your budget?
    I have this and pay out of it for train/plane/Hotel/food/Post etc and any fuel above what I'd normally put in.
    When expenses are repaid I top the slush fund back up to its maximum (£200- but that's not looking like enough for April) and any extra (wear and tear element of mileage payment) goes into one of my many money shuffling shinanigan pots.
    The 100 payment countdown (each payment = £400) 2018 Starts at 13/100 o/s £34,750.
    Jan 18 14/100 Feb 15/100 March 18/100 April 19/100 May 20/100 June 21/100
    Term Mortgage free date: October 2029 Current mortgage free date: April 2025 March 2024 Jan 2024
    MFW 2018 Challenge Member #162 £1600ish/£2,500
    • DrSpendLittle
    • By DrSpendLittle 8th Mar 18, 11:32 AM
    • 293 Posts
    • 1,026 Thanks
    DrSpendLittle
    I sort of run a slush fund but it tends to be on an ad hoc monthly basis and what normally happens is I assign dosh at the beginning of the month into my YNAB expenses category to cover anticipated costs that I then deduct from the debt payment I plan to make that month. It sort of works but its all a bit ad hoc and I'm constantly moving money between my YNAB categories as I inevitably spend more or less depending on how many expenses I accrue. Shuffling shenanigans indeed!

    I'm realising that I do now need a proper slush fund for expenses, like yours, and I think I may put any surplus ££s I get back in the coming months into building one, as I will have some more expenses coming up over the next few months.

    I always put expenses on on CC3, which is my everyday spends credit card that I clear every month, so sometimes I am able to charge unanticipated expenses mid month before payday and then pay off on last working day of the month when my salary hits my back account and shunt the expense into next months budget to cover it. Bit naughty but it works. I think a slush fund would stop that mis management of money!!
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £2,529.99/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £1,263.28/£1,894.92
    Emergency Fund: £329.81/£500 (65.96%) | Total Debt Repayments: £5,359.34/£12,585.14 (42.58%) | LBM Debt Exposure: £13,915.17 | Average Monthly Repayment: £836.17 | Outstanding Debt: £7,225.80 | DFD: 30/09/18
    • DrSpendLittle
    • By DrSpendLittle 10th Mar 18, 11:57 AM
    • 293 Posts
    • 1,026 Thanks
    DrSpendLittle
    Weekend!
    Hi Peeps,

    Yay for the weekend. And the heat. DF moaned he couldn't sleep last night which is a complete turnaround round from his whinging about the cold. Bless. Still, it gives the boiler a break for a few days. Dreading submitting the meter readings

    Went into town yesterday and got a colour consolation for some new makeup but I'm not sure what I picked up is the right shade, or whether I even want to wear this kind of foundation. Its liquid and more full coverage than I'm used to and I'm not a make up girl whatsoever, so I may re-sell on eBay and put it down to experience. I'll decide at the end of today once I've had a full days wear out of it.

    Other than that, not much planned for the weekend but we do need to do some sorting out and meal planning. We're both going through a 'can't be bothered' phase when it comes to food and cooking so we are very uninspired for recipes at the moment. I think we need to sit down and choose some recipes, do the food shop, and work to that plan. See how it goes.

    Will need to do a food shop at some point and we need a new bread bag, so might pop into town for a mooch after doing some chores.

    Enjoy the (relatively) lovely weather!!

    DSL.
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £2,529.99/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £1,263.28/£1,894.92
    Emergency Fund: £329.81/£500 (65.96%) | Total Debt Repayments: £5,359.34/£12,585.14 (42.58%) | LBM Debt Exposure: £13,915.17 | Average Monthly Repayment: £836.17 | Outstanding Debt: £7,225.80 | DFD: 30/09/18
    • DrSpendLittle
    • By DrSpendLittle 10th Mar 18, 3:15 PM
    • 293 Posts
    • 1,026 Thanks
    DrSpendLittle
    Meal planning done and Ocado shop order sorted. Made some amazing oat banana pancakes for breakfast with a blueberry coulis, as we had some bananas and blueberries that needed using up. Was a big hit with DF (he usually doesn't like non-conventional or gimmicky recipes but I didn't tell him they were a gluten/dairy/sugar free thing!!).

    Might head into town in a bit to get some stuff for dinner as we're out of food and DF wants to watch the rugby.
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £2,529.99/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £1,263.28/£1,894.92
    Emergency Fund: £329.81/£500 (65.96%) | Total Debt Repayments: £5,359.34/£12,585.14 (42.58%) | LBM Debt Exposure: £13,915.17 | Average Monthly Repayment: £836.17 | Outstanding Debt: £7,225.80 | DFD: 30/09/18
    • Shelbi
    • By Shelbi 10th Mar 18, 7:07 PM
    • 715 Posts
    • 1,723 Thanks
    Shelbi
    Hi DSL,

    Its great to see your back!! and I'm loving your targets- loving the idea of an emergency fund..and your on target to be debt free this year. I'm routing for you, we all are!! pancakes & coulis sound delish...would love to hear how your meal planning goes...its a week point for me hope the shopping trip went well..will be back soon to check in...have a lovely weekend

    Shelbi
    DFD-01.03.2018
    Save for xmas-£14/£365
    Emergency Fund- £3,000/£5,000£3,000 (revised amount)
    House Deposit- 0/£15,000.
    June'18- NSD- 10/20 Bring Lunch to work 8/20
    make-£5pd in June- £30.11/£155
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