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    • Poor_Single_lady
    • By Poor_Single_lady 31st May 16, 2:36 PM
    • 1,385Posts
    • 5,359Thanks
    Joined 31.05.16
    • #1
    • 31st May 16, 2:36 PM
    Joined 31.05.16 31st May 16 at 2:36 PM
    Day 1. 31.5.16
    I hope I am posting in the right place. I need to keep a spending diary where its not just me that sees it. I have around £14,500 in debt. This is split over 5 different lenders.

    £2450 Bankloan
    £3225 0% credit card
    £3620 0% credit card
    £2500 overdraft
    £2800 credit card 18%

    I have a lot of outgoings, live on my own (mortgage) recently had some expensive home improvements which I think were essential.

    I am slowly paying things off but one of my biggest battles is with my best friends who seem to be constantly putting pressure on me to do expensive things and get upset when i cant - making my battle twice as hard. Does anyone else have this issue or is it just me.

    My other main worry is that if my parents ever found out they would be heartbroken, I am 30 and shouldn't have let this happen. Im keeping my diary and working hard to fix. Day 1.
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    • Poor_Single_lady
    • By Poor_Single_lady 6th Apr 17, 8:08 PM
    • 1,385 Posts
    • 5,359 Thanks
    I'm probably not brave enough Coastal but wil see.
    I forgot I have to pay for electrics this month. I'm scared there is something wrong as they look like they are untouched for many years so that will be expensive especially if there is something wrong.
    Lots of family things this weekend, not sure of costs and then next week should be quite frugal. The furniture and the electrics are once-off costs at least.
    2017- 5 credit cards plus loan
    Overdraft And 1 credit card paid off.

    2018 plans - reduce debt
    • GoingToDoIt
    • By GoingToDoIt 6th Apr 17, 10:14 PM
    • 451 Posts
    • 3,200 Thanks
    Hi PSL
    I think it's worth remembering that you are working in one of the worlds top cities- and you seem to work in a city/corporate environment. I worked in public sector and charity, but in central London, and whilst there is a bit of that, it's nothing compared to private sector. I bet many people are not even from London originally. I had a bit of a LBM about this working close to the city the other year.
    London is the main draw for people who can afford to move there and have the right brains and background to make it. There's a lot less self made and self funded young people in the city than even 10 years ago, a hell of a lot of them now had money/connections to get there. It's simply too competitive and expensive for a lot of average people to bother, especially if they have uni debts.
    We naturally compare against others, you are comparing against the top 5% in the U.K. Really. I'm 3 miles from the square mile, everyone wears high st clothes, designer bags are rare, but not absent!!! The odd polished graduate breezes through for six months before moving on to better things....usually in the city. You're in a really unusual situation if you look at it that way. Plus I bet that few or none of them have bought a place on their own. I've worked with people who claim they are independent but their parents pay their phone bill, credit cards etc. And they complain they can't afford a mortgage - well they aren't looking at 1 bed flats in rough areas.
    Last edited by GoingToDoIt; 06-04-2017 at 10:18 PM.
    Apr 16 Total cc 0% debt £8364/3499 updated 15 Oct 17
    • coastalchick
    • By coastalchick 7th Apr 17, 8:03 AM
    • 282 Posts
    • 461 Thanks
    well said goingtodoit. When I lived in London I bought a maisonette in Tooting (broadway end but in reality, mitcham, literally next road was tooting). Got a 100% mortgage and borrowed the fees money off my parents. Not many people wanted to live there as it was quite rough, but I couldn't afford more than a studio flat in the nicer areas (clapham, balham, wandsworth etc) and I wanted a little bigger in case I needed to rent out a room so plumped for tooting. Haven't lived there since 2004 but kept it and rented it out. Now its worth a mint and likely to increase because it's started to become more desirable. Though I now (only started this year) have a good work pension (they pay 7.5% of salary in and I pay 5%), that flat is my pension. Will own it outright age 50 (11.5 years) so after that rent will be pure income plus will always be able to sell if want to get capital out. Guess what I'm saying is those who decide to buy, rough area or not, are going to be better off than those who p1ss it up the wall on clothes, cocktails, handbags etc. So, PSL the fact you have even got your own place should keep you warm at night!!! x
    • Poor_Single_lady
    • By Poor_Single_lady 8th Apr 17, 10:20 AM
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    Thanks Coastal and Goingtodoit. It is really good to have bought somewhere especially on my own. My ex-boyfriend bought a flat we lived in and when that all went wrong I was homeless so I think there is a lot of security in being on the property ladder independently of anyone else (at least on paper). It's just not plain sailing when the washing machine breaks and the ceiling leaks and the electrics blow up.
    But I am lucky to have the help from my parents which is kind of why i feel way more guilty about being in so much debt.
    Also I am going to take the credit card out of the freezer just for travel costs and pay them off before end of month so won't pay any interest. Then put it back in the freezer.
    I'm not going to organise anything social on top of current commitments.

    This week-
    drink out tonight, Tesco shop (small),
    Sunday- minimal costs
    Monday eyebrows
    Tuesday low spend
    Wednesday low spend
    Thursday low spend
    Friday - off work and pub, furniture coming
    Saturday low spend, furniture coming
    Sunday low spend
    Monday pub

    Going to keep flat tiday and clean and read books and watch films. It's just over 2 weeks to payday. The next loan payment takes the loan under £1000 mark which does make me feel like the end is in sight for that one albeit another 6 months away.
    Starting to think 2017 is the year things are going to change. Need to stay strong and resist the holiday invite/guilt not going. Will be hard but this is the important time to stay on track.

    Things to do
    No carpets
    No holiday
    No handbags
    Refuse work nights out (and wonder how others afford)
    Wear all the wardrobe
    Get shoes reheeled
    Food plan
    Eat from freezer
    Stay out of John Lewis till December
    Plan for expensive treats in January (not before)
    Be at home more
    Drink less
    Eat better
    Shop in primary
    Shoo in Poundland, savers, pound world and discount toiletries shops
    Use points cards
    Change sheets more often
    Sort out wardrobe
    Get rid of unwanted furniture items
    Look into costs for new doors in flat
    Have more lie-ins and more Down time
    Read more
    Go to cinema more
    See family more
    Spend less

    Stay out of overdraft as much as possible, limit creditcard use to travel only and pay off at end of month.
    • Poor_Single_lady
    • By Poor_Single_lady 15th Apr 17, 9:53 AM
    • 1,385 Posts
    • 5,359 Thanks
    It's not going too badly but it could be better.
    Spent a bit on food recently and bought some work clothes. Also had a few nights out and drinks with a boy which adds up. I'm not sure we are compatible but he is lovely and lots of fun. And seems to be a bit tight with money which is firmly on my unattractive list, but could be just what I need.

    The furniture that came yesterday is lovely and the rest coming later today. I am really pleased with it and it makes a massive difference to the flat.
    Going to do some cooking and tidying today. Keeping it low key after far too much drinking.
    Glad to be off work for a few days and have no plans today. Family tommorow and then London with friends Monday.

    Work Tuesday-Friday. And some social in the Calendar. 11 days to payday. trying hard.
    2017- 5 credit cards plus loan
    Overdraft And 1 credit card paid off.

    2018 plans - reduce debt
    • louby40
    • By louby40 15th Apr 17, 1:36 PM
    • 1,353 Posts
    • 3,679 Thanks
    Wow, getting under that £1000 mark is a great feeling! You're doing so well PSL! Enjoy your long weekend!
    • Poor_Single_lady
    • By Poor_Single_lady 18th Apr 17, 10:05 PM
    • 1,385 Posts
    • 5,359 Thanks
    Not long till payday. Spent too much money socialising this month. In May I am going to try and be completely alcohol free. I'm not sure if this is possible. We have 2 work parties and 2 family birthday, But I would like to go whole month not drinking.
    Not very much in the calendar so far. Hope I can stay at home a bit. I've tried to cut down on socialising and cut right back but it's not easy.
    Cooked lunch for tommorow and then plan to eat something small in the evening but sometimes I just come home starving. It was a bit of a battle not to go to the chip shop for dinner.
    Finding managing my money very tough- but I do think that being antisocial will help. And also you don't need as many outfits.

    I had another date with the boy but I don't think it is going to go anywhere. We do seem to be just too different. He also seems to take life SO ridiculously seriously. Like life is this big quest of constant improvement. It's like he is joking but he isn't. And possibly it's me that has got it wrong with my 5 credit cards but I just don't think life should be so serious and intense. I think having some fun things is quite important. And sometimes just reading a book and eating junk is ok even if you're not out running and improving yourself.
    I'm hoping things will get easier and I will get the money sorted.
    2017- 5 credit cards plus loan
    Overdraft And 1 credit card paid off.

    2018 plans - reduce debt
    • Poor_Single_lady
    • By Poor_Single_lady 18th Apr 17, 10:06 PM
    • 1,385 Posts
    • 5,359 Thanks
    I meant to say Thanks Louby. Getting there slowly. xx
    • Dolly Rocker
    • By Dolly Rocker 19th Apr 17, 8:14 AM
    • 3,740 Posts
    • 10,694 Thanks
    Dolly Rocker
    Och that's a shame you don't think it is going to go anywhere, but at least you are out there meeting people.

    You never know when the right person is going to venture into your life.

    I'm also finding it tough to make my money last the month.

    I am on holiday next month then after that I am gonna attempt to stay in as much as possible up until Christmas.

    It's a drastic action but I feel like I need it!

    CWP start 16st2lbs, current 13st13lbs, lost 31lbs

    Debt start £6,649.97, current £5,950.00, paid £696.97

    17th April 2018 - I have 5 Nationwide Referrals available, PM me if you want £100 to switch accounts
    • reality_check
    • By reality_check 19th Apr 17, 12:23 PM
    • 728 Posts
    • 1,677 Thanks
    Join the alcohol free way of life and keep me company! It is always hard when the good weather comes and the beer gardens come calling xx
    • Poor_Single_lady
    • By Poor_Single_lady 20th Apr 17, 9:45 PM
    • 1,385 Posts
    • 5,359 Thanks
    I am Reality. I am so over alcohol. I will join you staying in Dolly. Starting to kind of feel like I am over men as well. So not going to think about that for a bit.

    This is my current list and plans.

    Mbna x 2 total balance £8,800 at 0%
    paying £100 per month. Interest rate going up in June for some of the balance so need to keep an eye on this

    Sains £3,200 at 0%
    Paying £100 per month

    Both of these 0% deals end before I will pay off in full but this date for both is quite far off.

    Halifax £1750 at 0%
    Paying 1% so £17.50
    14 more months of 0%

    Lloyds £1850
    Paying 1% so £18.50
    36 months at 0%

    Loan £1070
    £153 per month till November

    HSBC paying off in full each month
    Overdraft to be used as little as possible and paid off each payday with aim of closing for good in near future.

    Parents - payments suspended

    Very £100 at 0% to be paid by august at £25 per month.

    That is everything at the moment. It is strange having a credit card I pay off in full each month. I have never done that before. Once the loan goes in November It will be easier to keep out of overdraft but obviously it will be Christmas which brings its own challenges.

    waiting for payday now to make payments and plans. xxx
    2017- 5 credit cards plus loan
    Overdraft And 1 credit card paid off.

    2018 plans - reduce debt
    • louby40
    • By louby40 21st Apr 17, 9:41 AM
    • 1,353 Posts
    • 3,679 Thanks
    Do you not save for Christmas? I put £50 into a separate savings account each month. So when November comes around I have £500 or so sitting there. It really helps. I wouldn't have £500 to spend during November/December.
    • Poor_Single_lady
    • By Poor_Single_lady 21st Apr 17, 9:15 PM
    • 1,385 Posts
    • 5,359 Thanks
    The thing is that in order to save money you need to have something to save and I don't have this. I just don't. My debt payments are iro £450 so the saving is not going to happen.
    If/when this reduces I will rethink - but to be honest I think it's going to take a long time to become a saver. I think all in Christmas is about £450 which is 3 of those stupid loan payments so in the future it will be manageable and really I can see the end of the "very hard times" is coming.

    I'm staying In next month and not drinking. I'm saying no to literally everything. Everything. No London trips, no nights out, no beers or wines, no dinners, no theatre, nothing. Just back to basics books, baths, films and lie-ins. I want to take holiday from work but I don't have enough worked. If I haven't found a new job by June I'm going to take a week off and be at home tho. Had enough of this poverty. I can't imagine a life Where the payments are manageable.
    2017- 5 credit cards plus loan
    Overdraft And 1 credit card paid off.

    2018 plans - reduce debt
    • Poor_Single_lady
    • By Poor_Single_lady 21st Apr 17, 9:18 PM
    • 1,385 Posts
    • 5,359 Thanks
    I do take on board what you are saying Louby. I just read my post back, it sounds quite dismissive and this isn't what I meant. I'm sorry it's coming across like that against my actual thoughts! I think you are completely right and This time next year I will have a Christmas fund (and likely think if you when I top it up) so yes for 2018 and no for 2017. But you are right and it is good advice thank you. xxx
    2017- 5 credit cards plus loan
    Overdraft And 1 credit card paid off.

    2018 plans - reduce debt
    • GoingToDoIt
    • By GoingToDoIt 21st Apr 17, 10:58 PM
    • 451 Posts
    • 3,200 Thanks
    Hi PSL, just remember there is light at the end of the tunnel. Like you say, maybe next year you can have an xmas fund, once the loan is "dead".
    If you are having a quiet few weeks, have a think about the "extra income" boards, you might find doing surveys or selling stuff online could bring in a few quid after a few weeks, might pay for a bottle of wine or a cinema trip.
    Apr 16 Total cc 0% debt £8364/3499 updated 15 Oct 17
    • Verbatim
    • By Verbatim 22nd Apr 17, 7:31 AM
    • 4,575 Posts
    • 13,603 Thanks
    Dare I ask how much the furniture cost? I'm guessing it went on a cc. Perhaps the one you cleared with your bonus?
    What is your plan for Christmas if not putting money aside beforehand?
    CCs @0% £24k Dec 05 £19,621.41 Au £13400 S 12600 Oct £11,981 £9481 £7500 Nov £7250 D £7100 Jan 6950 F £5800 Mar£5400 May £4830 June £4660 July £4460 Aug £3200, S £900, £0 18/9/07 DFW Nerd 042
    • louby40
    • By louby40 22nd Apr 17, 2:05 PM
    • 1,353 Posts
    • 3,679 Thanks
    PSL please don't worry that I'm offended. I'm not.

    I would love to spend the £50 I save for Christmas on myself but I don't, I know Christmas is coming and in the past I would have paid for everything on my CC but now I save it. It's a major priority for me as it's a big spend.

    I understand you might not have the money to save but come Christmas how will you pay for it?
    • Poor_Single_lady
    • By Poor_Single_lady 23rd Apr 17, 7:16 AM
    • 1,385 Posts
    • 5,359 Thanks
    Verbatim you are keeping me in check. The furniture went into the overdraft. But it felt like I needed something for me to keep me sane after paying my entire bonus onto the debts (although I did go to theatre and get few non essential things in regent street)
    Plus the furniture makes the flat look so much bigger. Both were rare good choices by me. And both will last and won't need to be replaced.

    I'm probably unusual in that I don't actually spend too much money at Christmas. Probably about £300 All in which I think Is less than other people.

    At a guess
    On presents-
    Parents, grandparents £120
    Siblings £80
    Friends children £40
    Niece/nephews £60

    I don't buy for any of my friends and I try to wriggle out of the secret santas. I know that sounds miserable but i always put so much effort i and alway get something weird back.

    Then a bit more costs in the going out/ drinks and possibly some clothes.

    I don't have a specific plan but I do have some positives.

    Loan ends October so November and December income increases by £153.

    Travel costs are set up so that when I am off work at some point there will be holiday at the right time to mean a whole months pay with no travel costs. This will make a difference of about £400

    But I have applied for a job closer to home. I'm not sure if I really want it or not. But it would be good experience and I could always apply back to London in the future.

    Payday is almost here. I'm quite busy next week but then after that it's a whole month staying in and no drinking. I think It will do me so much good on health and money, stress and time for myself.
    Drank far too much recently. It's way too excessive and I would like things to be calmer.

    Low key day today waiting for the money to arrive.
    • GoingToDoIt
    • By GoingToDoIt 23rd Apr 17, 8:52 AM
    • 451 Posts
    • 3,200 Thanks
    Hi PSL
    I know it's not always helpful to have loads of suggestions of doing things different ways but there is one thing I thought of to suggest - your choice whether it might work for you!? It worked for me recently anyway. As you are paying around £450 each month on debt, can you re-arrrange that so that you do minimum payments on all but one cc, and pick one cc which is low that you pay a lot to-which would mean you might pay one cc off quickly? Maybe an mbna one? Or kill a low one like hulifax, then move the mbna to it?

    This really depends on how much your minimum payments are, but for my cc's they were about £30/£40 per card per month. So I paid that, then £200 per month on one card. Just an idea of a "quick win" for you to consider. For me, as I say, I liked "slaying" a card. Plus once you finish a 0% card, you can usually transfer other debt to it at 0%, and so can re-use it - for example if another card with debt on is ending it's 0% period and getting interest, then you have an "empty" card to move that balance to.

    I know there is always a cost to moving balance transfers, but the thing is when you have over 5k debt you are unlikely to pay it off in a year so you have to accept some charges along the way I think. And better to pay 3% balance transfer fee than pay interest, in most cases.
    Last edited by GoingToDoIt; 23-04-2017 at 9:05 AM.
    Apr 16 Total cc 0% debt £8364/3499 updated 15 Oct 17
    • blue_eyed_girl123
    • By blue_eyed_girl123 23rd Apr 17, 1:43 PM
    • 66 Posts
    • 117 Thanks
    Good luck with the not drinking . I don't tend to drink much as I often work weekends and regardless of how much I drink I always seem to wake up feeling rubbish. You could always plan things in for Saturdays and Sundays that make up for not drinking, I like to go out with a friend for coffee and cake sometimes .
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