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    • Silver Queen
    • By Silver Queen 24th May 17, 3:16 PM
    • 371Posts
    • 1,751Thanks
    Silver Queen
    £15,000 to 0
    • #1
    • 24th May 17, 3:16 PM
    £15,000 to 0 24th May 17 at 3:16 PM
    Hi

    I have decided to re-join this forum so that I can stay motivated to bust my debt.

    A bit about me...I work full-time in London which gets me about £1.4k per month.

    I owe £15,000 exactly on 0% interest. This is £13,500 to bank of ma and pa (started at £15,500 in October), which paid for my postgrad, and £2k of student overdraft.

    I pay £250 per month to my parents but I would like to start making overpayments.

    Frankly, until now, I have not really even thought about my student overdraft because it's on 0%. However, in June or July (not sure which - oops), it will reduce by £1k so I will need to pay it back ASAP.

    I live at home at the moment, although I will be moving out in September.

    My monthly expenses are food and £350-ish on a train ticket since I commute into London daily. I also pay £200 per month into a help to buy.

    Goals
    1. Pay back £1k into my overdraft by end of July, whilst continuing to make £250 repayments monthly.
    2. Save a £1k moving fund. I am trying to declutter and become more minimalist so that I don't have so much stuff to move, but there will be general moving expenses.
    3. This one is a bit ambitious - I would like to try to pay back all the monies owed to my parents by next year. The current agreement is that I would keep paying them £250 pa until 2021 but I really really don't want to do that, because...
    4. This one is long-term. Save £20k by 2021 so that I can be on my way to putting down a deposit for a house.


    I have started this diary because although I have been on the debt free journey for about three/four months, I have been noticing myself slipping lately, so hopefully this will hold me accountable!
    Last edited by Silver Queen; 27-02-2018 at 10:00 AM. Reason: incorrect loan balances!
Page 8
    • Silver Queen
    • By Silver Queen 21st Feb 18, 2:51 PM
    • 371 Posts
    • 1,751 Thanks
    Silver Queen
    Woohoo on the bank switch! That's really quick for the cash that's awesome

    Glad the walk was good I do love a good walk, especially if you're on your own and can just listen to music. I used to find it really therapeutic. Now we live at OH's parents I don't walk as much as I'd like... He's insured on their car so we always just end up driving everywhere. I need to have more of a backbone. 14 miles is pretty epic! Hope the hip is feeling better.

    I've not been on prolific for a while. I think cos I've just cashed out I see how long it'll take me to get back up to £20 and it puts me off a little bit. Need to get back into the swing of it!

    Do you get paid at the end of the month? I'm always around the 19th (it varies slightly depending on weekends and stuff). I usually find the rest of the calendar month goes fine but then I'm absolutely skint as soon as the next month starts and I spend 2 weeks making no progress and not spending any money at all really.

    Good idea on upping the food budget. If you go over it it's probably better to edit it. Then if you find that you're under budget any extra money could go to either debt or treats. I'd be leaning towards treats but that's just me



    This. Cleaning is really great because I suppose you have a sort of sense of direction and purpose and then a feeling of achievement afterwards. There's something so nice about having clean surroundings as well. I'm going to try and stress clean rather than stress eat/ sleep which is what I currently do!

    Hope you have a good week and hope the issues you had at work have been resolved as well
    Originally posted by lonelyrat

    I feel the same about prolific as you! I'm just really, REALLY determined to earn enough to get myself a cheeky treat like a mulberry purse which I've been eyeing up for the last 5 years

    The bank switch cash came in so quickly! I was absolutely shocked that it was so quick. It was actually the second switch that I set up - the first switch hasn't even opened an account yet!

    I get paid on the 28th of every month...7 days to go...limping my way towards it!

    Hummus was really really easy to make. Can of chickpeas, drained, lemon juice, garlic. I didn't bother with the tahini paste cos that stuff is EXPENSIVE. It still came out fine but word of warning, make sure you use relatively fresh garlic and not stuff that's been languishing in your fridge for weeks. The hummus tasted resolutely fridge-y from the fridge-y garlic

    The falafel was an absolute pain in the !!! and I don't think I'll make it again. It needed frying in oil and I have definitely got a bit of a attitude when it comes to pans of hot oil.

    I wanted to try to make stuffed vine leaves too but it's so expensive, it's cheaper to buy the pre-made sort!

    Had a bit of a naughty week so far, have bought lunch three times this week. I have £40 to last me the week until payday and no expenses of note so theoretically I should be OK, as long as I don't get itchy fingers and end up internet shopping!
    Debt Totals May 2018::
    £350 Natwest Credit Card / Now £0 (paid off and closed 04/2017) £15,500 postgrad loan from parents/ Now £10,250 £500 train ticket loan from parents / Now £0 (paid off 16/02/18) £2,000 Overdraft Now £0 (paid off 09/03/18)
    • indigowarrior
    • By indigowarrior 21st Feb 18, 4:49 PM
    • 510 Posts
    • 3,704 Thanks
    indigowarrior
    Hi Silver Queen,
    I followed your blog. Your doing really well.
    I am considering doing BA Law (hons) with the open university. So its an eye opener at how much you get paid.
    #545- SPC/ Frugal Living Challenge May NSD 3/19
    • Silver Queen
    • By Silver Queen 21st Feb 18, 8:18 PM
    • 371 Posts
    • 1,751 Thanks
    Silver Queen
    Hi indigowarrior. It certainly isnt all glitz and glam like in suits. Itís a lot of stress and responsibility and relative to the hours, the pay isnít wonderful.

    Admittedly due to the size of my firm and nature of work, I do have a lot more responsibility than many people in the same position as me would have and I donít get paid enough (imo) to reflect this.

    But I also know of magic circle trainees who get paid enormous sums (circa £60k) who, on the surface, are well remunerated but when they work out their hourly wage, they actually get paid minimum wage or close to. I know someone who once worked 12+ hour days every day, including every single weekend for 3 months.

    I often wish I had not got myself into this to begin with and am seriously considering changing careers after qualification.

    It is something to think long and hard about because law WILL be your life for a good number of years (3 years bachelors, 1 year lpc, 2 years training contract).

    The only thing is, it does make a difference to peopleís lives and to society in general. Whenever I get a big win Iím like so it is swings and roundabouts. Itís up to you whether youíre prepared for the responsibility and the (lack of) work life balance, although there are some law firms that are very chilled out - generally wills and some residential property firms.
    Debt Totals May 2018::
    £350 Natwest Credit Card / Now £0 (paid off and closed 04/2017) £15,500 postgrad loan from parents/ Now £10,250 £500 train ticket loan from parents / Now £0 (paid off 16/02/18) £2,000 Overdraft Now £0 (paid off 09/03/18)
    • Silver Queen
    • By Silver Queen 21st Feb 18, 8:19 PM
    • 371 Posts
    • 1,751 Thanks
    Silver Queen
    Another pro - I!!!8217;m not sure how old you are but law is certainly a career field that you can change into later on in life. I don!!!8217;t get taken seriously because of my youth and lawyers are generally at their peak at around 40-50!
    Debt Totals May 2018::
    £350 Natwest Credit Card / Now £0 (paid off and closed 04/2017) £15,500 postgrad loan from parents/ Now £10,250 £500 train ticket loan from parents / Now £0 (paid off 16/02/18) £2,000 Overdraft Now £0 (paid off 09/03/18)
    • indigowarrior
    • By indigowarrior 21st Feb 18, 10:13 PM
    • 510 Posts
    • 3,704 Thanks
    indigowarrior
    Silver Queen, I want specialize in helping victims of sexual abuse. I know its going to be hard work so I am considering waiting until Next year. Had catastrophic life changes in my life since April so I want the dust to settle first. I know its going to be hard. I am 29. I have no qualifications and have been out of work a shocking length of time due to ill health. However, I am determind to change my life around.
    #545- SPC/ Frugal Living Challenge May NSD 3/19
    • Silver Queen
    • By Silver Queen 21st Feb 18, 10:33 PM
    • 371 Posts
    • 1,751 Thanks
    Silver Queen
    Thatís really great and a very fulfilling line of work but you certainly will not be paid well for it. Have you thought about volunteering for a DV charity or similar? My friendís mum runs one in Kent. I think it would be good experience and youíd be able to see if you genuinely want to do it. I imagine itíd be extremely taxing emotionally.
    Debt Totals May 2018::
    £350 Natwest Credit Card / Now £0 (paid off and closed 04/2017) £15,500 postgrad loan from parents/ Now £10,250 £500 train ticket loan from parents / Now £0 (paid off 16/02/18) £2,000 Overdraft Now £0 (paid off 09/03/18)
    • indigowarrior
    • By indigowarrior 21st Feb 18, 10:44 PM
    • 510 Posts
    • 3,704 Thanks
    indigowarrior
    Its not the money aspect I am bothered about really. Its about helping women like myself to get justice. I am not expecting to be rich. . As long as I have enough to pay for a roof over my head. Then I will be fine.
    #545- SPC/ Frugal Living Challenge May NSD 3/19
    • lonelyrat
    • By lonelyrat 2nd Mar 18, 9:21 PM
    • 263 Posts
    • 639 Thanks
    lonelyrat
    Falafel sounds like a bit too much work for me but will deffo give the hummus a go. I do have a can of chickpeas so will go hunting for the rest when the weather is better. Will take note to get fresh garlic... Not keen on 'fridge' taste. I want to make baladi bread to go with it so will need to try and find a recipe. Not a fan of vine leaves so I would be steering clear of them!

    Hope you made it to payday unscathed and don't feel bad about buying lunch out a few times. As long as it isn't a habit it's fine.... We can't all be good all the time and as long as you're still making progress that's all that matters. I've had a few slip ups this month buying myself some serious 'wants' rather than 'needs' but it doesn't mean my attitude has changed and at least I can safely say I haven't added to my debt which is the main thing.

    What's the weather like down south? Have you had any time off work for it?
    Total Debt: 1125 / 7266.93
    Outstanding Debt: Santander CC 450 - Virgin CC 675
    Weight Loss: 7.1kg/ 38kg
    • Silver Queen
    • By Silver Queen 4th Mar 18, 8:05 AM
    • 371 Posts
    • 1,751 Thanks
    Silver Queen
    The weather!!!8217;s been miserable and freezing cold, we did get quite a bit of snow but not enough in central London for my boss to let us off work sadly!

    I!!!8217;ve decided this month to pay back the remainder of the overdraft so I just have the parental debt to concentrate on. The OD has until June on 0% but I thought I may as well pay it back now.

    I!!!8217;ve worked it out and I should just about manage to pay the whole lot off this month but there might be about £100 lingering until next month depending on how disciplined I am.
    Debt Totals May 2018::
    £350 Natwest Credit Card / Now £0 (paid off and closed 04/2017) £15,500 postgrad loan from parents/ Now £10,250 £500 train ticket loan from parents / Now £0 (paid off 16/02/18) £2,000 Overdraft Now £0 (paid off 09/03/18)
    • lonelyrat
    • By lonelyrat 4th Mar 18, 9:47 PM
    • 263 Posts
    • 639 Thanks
    lonelyrat
    Ahh that's a shame... You got the crummy weather but none of the benefit of it! Good idea on paying back the overdraft. Even if it's still interest free I think it's better just to get it done and dusted. Just having one thing to focus on is far easier I think and then with every payment you'll see significant headway with the parental loan which will help to keep you motivated!
    Total Debt: 1125 / 7266.93
    Outstanding Debt: Santander CC 450 - Virgin CC 675
    Weight Loss: 7.1kg/ 38kg
    • Silver Queen
    • By Silver Queen 5th Mar 18, 6:32 PM
    • 371 Posts
    • 1,751 Thanks
    Silver Queen
    This stupid apostrophe thing is driving me mad! My posts will just have to be grammatically incorrect from now on.

    Meant to call today to pay off the whole overdraft but didnít get around to it. Will do it tomorrow before I leave for work!
    Debt Totals May 2018::
    £350 Natwest Credit Card / Now £0 (paid off and closed 04/2017) £15,500 postgrad loan from parents/ Now £10,250 £500 train ticket loan from parents / Now £0 (paid off 16/02/18) £2,000 Overdraft Now £0 (paid off 09/03/18)
    • Rachel24
    • By Rachel24 5th Mar 18, 7:13 PM
    • 160 Posts
    • 556 Thanks
    Rachel24
    Enthusiastic saver showed me how to change it! If you have an iPhone go to settings>general>keyboard> then take off smart punctuation. Xx
    • Silver Queen
    • By Silver Queen 7th Mar 18, 7:59 PM
    • 371 Posts
    • 1,751 Thanks
    Silver Queen
    Thanks Rachel! I'm so glad there's a fix

    Paid off my overdraft today I did borrow £250 from my sister to do it but that will be paid off as soon as payday rolls around.

    Total debt: £10,750! Woohoo!

    A bit of a b@lls up with my bank switch means I'm not certain I'll get the £125 bonus now. We will have to see

    Reached £50 on Populuslive. Still under £35 on one poll though... once I reach cash out I'm definitely giving up.

    Anyone else finding prolific really slow?
    Debt Totals May 2018::
    £350 Natwest Credit Card / Now £0 (paid off and closed 04/2017) £15,500 postgrad loan from parents/ Now £10,250 £500 train ticket loan from parents / Now £0 (paid off 16/02/18) £2,000 Overdraft Now £0 (paid off 09/03/18)
    • Silver Queen
    • By Silver Queen 13th Mar 18, 9:56 AM
    • 371 Posts
    • 1,751 Thanks
    Silver Queen
    Checking in today feeling a bit

    I set up a DD paying the full balance of my amex (previously I've just been paying off the full balance every month manually) and the first DD was taken yesterday.

    It shows the money has been paid to the amex and my balance is back to 0, but the money hasn't come out of the nominated account - or actually any of my bank accounts - and isn't showing as a pending transaction on any of them.

    So where's this money come from?!

    I suppose I'll find out in a few days but for now I'll carry on being
    Debt Totals May 2018::
    £350 Natwest Credit Card / Now £0 (paid off and closed 04/2017) £15,500 postgrad loan from parents/ Now £10,250 £500 train ticket loan from parents / Now £0 (paid off 16/02/18) £2,000 Overdraft Now £0 (paid off 09/03/18)
    • Silver Queen
    • By Silver Queen 13th Mar 18, 9:58 AM
    • 371 Posts
    • 1,751 Thanks
    Silver Queen
    Also - received my second bank switch bonus last week
    Debt Totals May 2018::
    £350 Natwest Credit Card / Now £0 (paid off and closed 04/2017) £15,500 postgrad loan from parents/ Now £10,250 £500 train ticket loan from parents / Now £0 (paid off 16/02/18) £2,000 Overdraft Now £0 (paid off 09/03/18)
    • lonelyrat
    • By lonelyrat 19th Mar 18, 10:14 PM
    • 263 Posts
    • 639 Thanks
    lonelyrat
    Hey! How are you getting on? What was the crack with the amex? Glad you got your switch bonus through! Did you end up getting both in the end?
    Total Debt: 1125 / 7266.93
    Outstanding Debt: Santander CC 450 - Virgin CC 675
    Weight Loss: 7.1kg/ 38kg
    • Silver Queen
    • By Silver Queen 20th Mar 18, 3:51 AM
    • 371 Posts
    • 1,751 Thanks
    Silver Queen
    Hey lonelyrat. All good here, just ticking along until the end of the month - it's really dragging!

    Yes got both the bank switching bonuses now, and am now eyeing up my next target

    Woke up at 2.30 this morning and have just been lying awake since. It's been years since I last did this. Usually I sleep like a log through the night! I'm not pleased
    Debt Totals May 2018::
    £350 Natwest Credit Card / Now £0 (paid off and closed 04/2017) £15,500 postgrad loan from parents/ Now £10,250 £500 train ticket loan from parents / Now £0 (paid off 16/02/18) £2,000 Overdraft Now £0 (paid off 09/03/18)
    • lonelyrat
    • By lonelyrat 24th Mar 18, 6:10 PM
    • 263 Posts
    • 639 Thanks
    lonelyrat
    This month is seriously dragging for me too... It's so weird I feel like my life is flashing by but at the same time the days/ weeks are dragging. Very weird and contradictory. I'm glad you got both - that's awesome! Haha, the banks better watch out!
    Total Debt: 1125 / 7266.93
    Outstanding Debt: Santander CC 450 - Virgin CC 675
    Weight Loss: 7.1kg/ 38kg
    • Silver Queen
    • By Silver Queen 27th Mar 18, 5:28 PM
    • 371 Posts
    • 1,751 Thanks
    Silver Queen
    Payday yesterday! An extra £250 to my sister this month for various reasons and my pay rise didn't kick in yet as apparently I won't actually be paid it until the end of April.

    My birthday is next month and I've been resisting the urge to splash out. First world problems - but this is the first time in two years that I haven't gone away for my birthday since I'm trying to be good. Nearly booked a holiday to Croatia last week but stopped myself.

    Total debt (excl. student loan) will be down to £10,500 in April which I'm pleased with!

    Initiated yet another bank switch - the banks must hate me - £100 bonus this time but I'm not certain I'll get it as there's one thing I don't think I did properly. We'll see!

    Been doing lots of furniture shopping lately (none of it paid by me!) as my sister has finally decided she wants to actually furnish the place, it's been a bit sparse until now. Furniture is so bl00dy expensive! £2k for a sofa and £500 for an armchair!

    I've been a bit naughty when it comes to bringing lunch to work lately. I keep forgetting it and ending up buying an expensive lunch instead. Back on the wagon now - brought leftover lasagne to work today and planning on bringing paella tomorrow.
    Last edited by Silver Queen; 27-03-2018 at 5:32 PM.
    Debt Totals May 2018::
    £350 Natwest Credit Card / Now £0 (paid off and closed 04/2017) £15,500 postgrad loan from parents/ Now £10,250 £500 train ticket loan from parents / Now £0 (paid off 16/02/18) £2,000 Overdraft Now £0 (paid off 09/03/18)
    • Working Mum
    • By Working Mum 28th Mar 18, 11:47 AM
    • 73 Posts
    • 356 Thanks
    Working Mum
    Check out Freecycle for people who are letting go of old items they no longer want - I am Freecycling a lovely suite for free as I am moving house and cannot fit it in my new place - your sister could save loads and furnish her home for free! As long as she is prepared to be patient and see what comes up.

    I have had some ace things via the Freecycle network over the years and have given away loads of items which would have ended up in landfill.

    So much of this getting debt free lark is about being consistent but the cumulative impact isn't to be underestimated!!
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