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  • FIRST POST
    • DrSpendLittle
    • By DrSpendLittle 22nd Aug 17, 4:30 PM
    • 366Posts
    • 1,263Thanks
    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 16
    • DrSpendLittle
    • By DrSpendLittle 11th Jul 18, 6:47 PM
    • 366 Posts
    • 1,263 Thanks
    DrSpendLittle
    Collected my treats and both are a disaster! Argh! The sweatshirt was actually knitwear, which is nice but not what I'm after, so it's going back. The belt was bent towards the buckle end which, to me, means that it isn't perfect and is therefore also going back.

    Spent a conciliatory £9 in the M&5 sale on a nice lightweight striped jumper which will be perfect for autumn. Its oversized (got a size bigger than usual) and I can't wait to style it when the weather gets cooler.

    Put a new online order in for a few other bits and pieces from my favourite brand, which should arrive soon. Hopefully something will fit / be nice / compliment my A/W capsule and I can finally spent my treat money!

    Football time.
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £4,274.16/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £paid off/£1,894.92| Total Debt Repayments: £7,735.15/£12,585.14 (61.46%) | Outstanding Debt: £4,849.99 | House Move Fund: £0 / £4,000
    • DrSpendLittle
    • By DrSpendLittle 12th Jul 18, 9:01 AM
    • 366 Posts
    • 1,263 Thanks
    DrSpendLittle
    Heading in to the office this morning. I've no meetings until later this afternoon but I wanted to do a full day and be more productive than I have been this week.

    I'm unorganised so I'll have to buy lunch. I also need to post a few things on the way.

    Probably going to have pasta with a rocket salad for dinner. I'll need to pick up rocket from Al8i on the way home. Not sure if we'll do a quick and dirty sauce using posh tomato puree or a longer one using tinned tomatoes. DF usually does the former, I usually do the latter.

    I seem to have taken on complete responsibility for doing the big food shops at the moment, so I'll need to sit down with DF later and do some meal planning and an Ocado order and then split the cost.

    Holiday balances all paid now. We have a spare £100 in the current holiday budget (might lost £30 due to international payment charges but not sure just now) which wasn't expected. I must have budgeted for the EUR rather than ££s amount for the holiday cottage payment. Doh. Still, it'll pay for holiday insurance, which we must get soon since we're now fully financially committed to our holiday.

    It'll be my first ever big summer holiday that I've properly saved for and not relied on the credit cards. Feels odd that I would, in previous years, pay for spending money, trains or flights on a credit card and then 'deal with it when I get back'. Shudder. This time, I've paid for everything up front and still made £800 in debt repayments per month.

    Other than that, no significant MSE updates. Ooooh, I just remembered something. I banked a cheque the other day using my phone app. Means you don't need to visit the branch at all, you just take a picture of it in your app and the rest is magic!

    DSL
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £4,274.16/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £paid off/£1,894.92| Total Debt Repayments: £7,735.15/£12,585.14 (61.46%) | Outstanding Debt: £4,849.99 | House Move Fund: £0 / £4,000
    • DrSpendLittle
    • By DrSpendLittle 12th Jul 18, 9:07 AM
    • 366 Posts
    • 1,263 Thanks
    DrSpendLittle
    One other thought:

    I am thinking of writing a list all the 'things' I own that I know have been paid for using a credit card over the past 5 or so years. I'm going to note their original cost and hopefully, find a total of £4,999.99 worth of items, which is my outstanding debt.

    With every debt repayment I make, I will tick the purchase of an item or two off my list. It'll be like properly paying for the things I've bought in the past. It's the ultimate form of responsibility.

    I think it'll be quite cathartic.
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £4,274.16/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £paid off/£1,894.92| Total Debt Repayments: £7,735.15/£12,585.14 (61.46%) | Outstanding Debt: £4,849.99 | House Move Fund: £0 / £4,000
    • BelleOfBilboa
    • By BelleOfBilboa 12th Jul 18, 11:09 AM
    • 25 Posts
    • 62 Thanks
    BelleOfBilboa
    Sounds like a good idea to me DSL! A way to keep you accountable and ease those debt repayments as you'll acknowledge the payments for each physical object. I like it

    Good luck though, it sounds like a mammoth task keep us posted!
    Next £362.91/£0; Natwest OD £2000/£2000; Natwest Loan £1692.50/£1346.18; CDL £5700/£5290; Bank of M&D £2710.35/£2260.35 DFD 31/12/19

    • DrSpendLittle
    • By DrSpendLittle 12th Jul 18, 4:28 PM
    • 366 Posts
    • 1,263 Thanks
    DrSpendLittle
    Got my expenses sorted today, which is an MSE win. Probably due around £60 back from my recent excursions in the next day or so. Fairly quick this time around.

    Off to another meeting and then its time to 'clock out'.

    Looking forward to compiling my 'List of Shame' later. I reckon I'm already up to £2,500 worth of stuff from the a mental totting up of big ticket items I've been doing this afternoon. I wonder if I can get away with also including gifts I've purchased for others. I remember one xmas having no money and just shoving everything I bought for others on CC2, knowing full well I couldn't afford it. I never want to feel that guilt again.
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £4,274.16/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £paid off/£1,894.92| Total Debt Repayments: £7,735.15/£12,585.14 (61.46%) | Outstanding Debt: £4,849.99 | House Move Fund: £0 / £4,000
    • DrSpendLittle
    • By DrSpendLittle 12th Jul 18, 4:30 PM
    • 366 Posts
    • 1,263 Thanks
    DrSpendLittle
    Thanks Belle!

    It stems from me paying off my car recently and just feeling such a sense of achievement, ownership and responsibility. If I can re-create that with my other possessions or gifts, I'll be having a serotonin party in my brain and that sounds Good!
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £4,274.16/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £paid off/£1,894.92| Total Debt Repayments: £7,735.15/£12,585.14 (61.46%) | Outstanding Debt: £4,849.99 | House Move Fund: £0 / £4,000
    • DrSpendLittle
    • By DrSpendLittle 13th Jul 18, 11:47 AM
    • 366 Posts
    • 1,263 Thanks
    DrSpendLittle
    Quick check in.

    I've accounted for £3,263.56 worth of items, which were all purchased between January 2016 and August 2017. I'm pretty sure I used CC2 for all these.

    Wow!

    I may dip into 2015 to make up to £4,999.99 since I have most of CC2's statements. Not sure whether to include 2016 xmas. I know I used CC2 to cover some stuff. I'm also not sure about including 2015 xmas either. I may include stuff I charged to CC2 (since I know it will be more than was in my bank account). Eek.

    Will work some more on this later and provide a general overview of spends and their categories.

    Off into town to collect a few online orders and return the £9 M&5 jumper. I decided oversized stripes aren't the most flattering thing plus I don't want / need to buy clothes that aren't perfect just because they're cheap or highly discounted. Challenging those debt cognitions!
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £4,274.16/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £paid off/£1,894.92| Total Debt Repayments: £7,735.15/£12,585.14 (61.46%) | Outstanding Debt: £4,849.99 | House Move Fund: £0 / £4,000
    • redofromstart
    • By redofromstart 13th Jul 18, 11:53 AM
    • 1,937 Posts
    • 11,899 Thanks
    redofromstart
    Off into town to collect a few online orders and return the £9 M&5 jumper. I decided oversized stripes aren't the most flattering thing plus I don't want / need to buy clothes that aren't perfect just because they're cheap or highly discounted. Challenging those debt cognitions!
    Originally posted by DrSpendLittle
    Good for you. I've hardly bought anything since I made the same decision.
    • enthusiasticsaver
    • By enthusiasticsaver 13th Jul 18, 11:57 AM
    • 7,066 Posts
    • 15,311 Thanks
    enthusiasticsaver
    Quick check in.

    I've accounted for £3,263.56 worth of items, which were all purchased between January 2016 and August 2017. I'm pretty sure I used CC2 for all these.

    Wow!

    I may dip into 2015 to make up to £4,999.99 since I have most of CC2's statements. Not sure whether to include 2016 xmas. I know I used CC2 to cover some stuff. I'm also not sure about including 2015 xmas either. I may include stuff I charged to CC2 (since I know it will be more than was in my bank account). Eek.

    Will work some more on this later and provide a general overview of spends and their categories.

    Off into town to collect a few online orders and return the £9 M&5 jumper. I decided oversized stripes aren't the most flattering thing plus I don't want / need to buy clothes that aren't perfect just because they're cheap or highly discounted. Challenging those debt cognitions!
    Originally posted by DrSpendLittle
    That is a different way of accounting for debt. I guess if there are things on there from 2015 xmas you may feel pretty bad that you still haven't paid for them 2 and a half years later. This is one reason why I don't like paying for stuff on credit cards regardless of whether they are 0% or not. There is something quite disheartening about buying something and still owing money for it years later even when it is about to be replaced. Or paying for Christmas or a holiday on a credit card and it still being outstanding a couple of years later.
    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 13th Jul 18, 4:55 PM
    • 366 Posts
    • 1,263 Thanks
    DrSpendLittle
    My list of 'Stuff, Things, Interest & Fees'
    Okay, here is my list of 'Stuff, Things, Interest and Fees' that I have scrupulously identified from CC2 spends throughout 2016 and into 2017 and which have left me financially STIF (get it...? )

    I am using this list as motivation to pay off the remaining £4,999.99 of debt I currently have sat on CC2.

    It will also serve as a salutary lesson in not using my CC to pay for stuff I don't need with money I don't have.

    Sport-related hobbies (equipment, nutrition, event fees): £2,015.83
    2017 Summer Holiday: £80
    Music (equipment, gigs, records): £831.94
    Furniture: £581.30
    2016 Xmas: £254.33
    2016 Summer Holiday: £772.42 (spending money + £22.42 fee) + £148.99 (fuel) = £921.41
    2016 Short break to a foreign city: £207.68

    Total: £4892.49

    Still short, so I looked into fees and interest charged on CC2 during 2016-2017...

    Interest on purchases: £50.88
    Balance transfer fees: £340.40

    New Total: £5220.77

    Slightly over, so lets account for July 2018's payment: £429.17

    That pays off £208.39 too much, so lets add on some more stuff from very late 2015 to bring it back up to £4,999.99:

    New mobile phone & an extra charging lead: £76.03
    Car service: £103.92
    40% of the cost of a new passport: £28.44

    Righty, I now have my £4,999.99 of stuff I still own, use, enjoy or remember to pay for, all of which I bought with money I didn't have.

    This was very cathartic.

    DSL
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £4,274.16/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £paid off/£1,894.92| Total Debt Repayments: £7,735.15/£12,585.14 (61.46%) | Outstanding Debt: £4,849.99 | House Move Fund: £0 / £4,000
    • DrSpendLittle
    • By DrSpendLittle 13th Jul 18, 4:57 PM
    • 366 Posts
    • 1,263 Thanks
    DrSpendLittle
    That is a different way of accounting for debt. I guess if there are things on there from 2015 xmas you may feel pretty bad that you still haven't paid for them 2 and a half years later. This is one reason why I don't like paying for stuff on credit cards regardless of whether they are 0% or not. There is something quite disheartening about buying something and still owing money for it years later even when it is about to be replaced. Or paying for Christmas or a holiday on a credit card and it still being outstanding a couple of years later.
    Originally posted by enthusiasticsaver
    Done! I don't feel too bad about it all, really. I see it as the ultimate test of responsibility and accountability and actually, its quite nice to know I am paying for things that I still have, use, enjoy or remember. Once CC2 is cleared, they will be truly mine and I will properly deserve them. Its been a worthwhile and salutary lesson
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £4,274.16/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £paid off/£1,894.92| Total Debt Repayments: £7,735.15/£12,585.14 (61.46%) | Outstanding Debt: £4,849.99 | House Move Fund: £0 / £4,000
    • DrSpendLittle
    • By DrSpendLittle 13th Jul 18, 5:17 PM
    • 366 Posts
    • 1,263 Thanks
    DrSpendLittle
    Work Expenses - a sneaky culprit
    From my meticulous combing through of spends on CC2 over the past 3-4 years, I have discovered a whopping £1,855.76 in work expenses that I charged in one 12 month period, at a time I was working remotely, away from the office on secondment or at events, for a significant part of that year.

    Iím pretty sure I didnít pay off those charges when I got my expenses rebate a month or so later.

    Even more, I discovered I paid around £420 in interest and fees in 2013-2014 and £440 in 2015-2016. I donít seem to have the annual statement for 2014-2015 but I can guess the figure would probably be around £500, maybe even more. These aren't just the result of using CC2 for expenses. The other spends listed above also contributed. But, the expenses didn't help!

    I must remember not to get stuck into this mentality ever again. Frivolously spending the rebates as if Iíd been given a bonus is a classic and caustic debt cognition.

    Charging expenses and not paying them off with the rebate has clearly been a contributing factor to keeping me in debt, if not getting me further and further into debt.

    Another salutary lesson for me!
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £4,274.16/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £paid off/£1,894.92| Total Debt Repayments: £7,735.15/£12,585.14 (61.46%) | Outstanding Debt: £4,849.99 | House Move Fund: £0 / £4,000
    • DrSpendLittle
    • By DrSpendLittle 13th Jul 18, 5:46 PM
    • 366 Posts
    • 1,263 Thanks
    DrSpendLittle
    In other news...!

    Today has been a WFH day. I went into town over lunch to return / collect my various bits and bobs and do a little supermarket shop. I returned the M&5 jumper but picked up DF some new socks (he is desperate and I could help but treat him) so I guess the payments balance each other out. I'd ordered a couple of winter knits in the sale from my favourite brand, to replace the disaster knit I bought using my treat money, and they are perfect! I'm so happy with them. Can't wait to show DF when he gets home.

    It's my birthday in less than a month and I'm being given money by a few family members, so I need to think about what to get as their gift to me. I'm tempted to get a few things on my A/W capsule wardrobe list, probably a warm winter coat and a good quality chunky winter knit. My favourite brand has both these on offer at the moment, so I may pick them up and see whether they suit.

    Feeling like I've had a few treats this month and will have a few more in my birthday month, plus we'll be on our holiday next month too, so I mustn't get carried away and indulgent, particularly with the sales on.

    Sorting out our little garden this weekend. The sun and rain has caused significant and messy overgrowth and it's looking a bit unkempt. Also need to clean the house. I seem to spend so much time tidying that I cba to hoover, dust and clean as often as I should!

    DSL
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £4,274.16/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £paid off/£1,894.92| Total Debt Repayments: £7,735.15/£12,585.14 (61.46%) | Outstanding Debt: £4,849.99 | House Move Fund: £0 / £4,000
    • enthusiasticsaver
    • By enthusiasticsaver 13th Jul 18, 7:20 PM
    • 7,066 Posts
    • 15,311 Thanks
    enthusiasticsaver
    Useful exercise. Going forward having saving pots for holidays, Christmas and paying for hobby equipment from budgeted personal spends should avoid many of the credit card spends. Maybe less impulse holidays?
    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 14th Jul 18, 7:31 PM
    • 366 Posts
    • 1,263 Thanks
    DrSpendLittle
    Hoover gone bang. And so life happens! Good job the sales are on and I have some spare money. J0hn L3wis to the rescue!

    Otherwise, I've had a really good day sorting out DF's wardrobe and getting rid of old clothes he doesn't wear or that are looking tatty. A nice big pile for the charity shop.

    Garden trimmed. Floors cleaned. Dinner sorted. A productive day.

    DSL
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £4,274.16/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £paid off/£1,894.92| Total Debt Repayments: £7,735.15/£12,585.14 (61.46%) | Outstanding Debt: £4,849.99 | House Move Fund: £0 / £4,000
    • PositiveBalance
    • By PositiveBalance 15th Jul 18, 5:12 PM
    • 808 Posts
    • 4,125 Thanks
    PositiveBalance
    Hello Dr Spendlittle,

    I've just read your entire diary in two days. I've not come across it before, or perhaps I have subconsciously avoided it as your user name makes you sound like a mean Bond villain!

    A few things I have noticed:

    1) For gawds sake, give that poor window cleaner a line in your YNAB budget, woman! Stop ignoring the poor man!

    2) You NEED an expenses account! Between how easy it is just to not pay them off on the CC once you get them and the interest you will have paid on the CCs, your partial calculation for the past three years are ridiculous, that's without calculating the interest you paid on the CCs while waiting for reimbursement, never mind whether you paid the money back or not once you finally got it. What's the most you have ever had outstanding in work expenses at one time? Open an account, put that amount in it, be ruthless about putting the money back in once you get it and as a small bonus, enjoy whatever interest it brings you instead of you paying interest on a CC.

    3) Don't get comfortable: much like myself in my debt-free journey, I'm no longer at a point where it's as 'critical' to pay things off as it once was and I could allow for more treats and to get a bit looser with the budget now that my remaining debt is at 0% but I know that if I start thinking like that, it's the start of a slippery slope. Personally, given how positively you have reacted to your car being 100% paid off, I would be tempted to pay off the remaining debt ASAP then start stockpiling cash for your 'proper' emergency fund and then get rid of the credit cards so you can't ever be tempted again!

    Other than that, well done on getting to grips with things before they got any worse....and think about how *rich* you could be if you keep a grip on your budget and start investing once you are 100% debt free!
    Original debt to source: £11,640.02; debt repaid: £6771.01 (58%); remaining debt: £5069.01
    0% CC balance: £4999.67 now
    £2914.55 (42% repaid)
    Emergency Fund (#187): £0/£500
    Terrimundi: fleeced!
    • Gemsy81
    • By Gemsy81 15th Jul 18, 7:43 PM
    • 175 Posts
    • 565 Thanks
    Gemsy81
    Just discovered your diary Dr Spendlittle.....really interesting hearing you talk about these debt behaviours....I recognise them very easily!! Well done in how far you have got, and in changing your mindset.
    • DrSpendLittle
    • By DrSpendLittle 16th Jul 18, 11:23 AM
    • 366 Posts
    • 1,263 Thanks
    DrSpendLittle
    Hello Dr Spendlittle,

    I've just read your entire diary in two days. I've not come across it before, or perhaps I have subconsciously avoided it as your user name makes you sound like a mean Bond villain!

    A few things I have noticed:

    1) For gawds sake, give that poor window cleaner a line in your YNAB budget, woman! Stop ignoring the poor man!

    2) You NEED an expenses account! Between how easy it is just to not pay them off on the CC once you get them and the interest you will have paid on the CCs, your partial calculation for the past three years are ridiculous, that's without calculating the interest you paid on the CCs while waiting for reimbursement, never mind whether you paid the money back or not once you finally got it. What's the most you have ever had outstanding in work expenses at one time? Open an account, put that amount in it, be ruthless about putting the money back in once you get it and as a small bonus, enjoy whatever interest it brings you instead of you paying interest on a CC.

    3) Don't get comfortable: much like myself in my debt-free journey, I'm no longer at a point where it's as 'critical' to pay things off as it once was and I could allow for more treats and to get a bit looser with the budget now that my remaining debt is at 0% but I know that if I start thinking like that, it's the start of a slippery slope. Personally, given how positively you have reacted to your car being 100% paid off, I would be tempted to pay off the remaining debt ASAP then start stockpiling cash for your 'proper' emergency fund and then get rid of the credit cards so you can't ever be tempted again!

    Other than that, well done on getting to grips with things before they got any worse....and think about how *rich* you could be if you keep a grip on your budget and start investing once you are 100% debt free!
    Originally posted by PositiveBalance
    Thanks for swinging by PositiveBalance! Good effort on reading my ramblings! I like the idea of being the resident MSE Bond Villain. Will give some thought to my niche skills.

    Funnily enough, your diary recently attracted my attention as we have similar original and current debt levels and I was keen to learn from your experience. It's top of my list to read from start to finish!

    I like the idea of an expenses account. I have a spare current account with my main bank so I may well start doing that. Good idea!

    Poor window cleaner I will start a line item in my budget for Household misc. and he will live peacefully there. DF and I talk about having a cash kitty jar at home, we must do that.

    And yes, I'm keen not to get too complacent now I've paid off over 60% of the initial debt. I'm definitely conscious of it and think my STIF list will help. My plan is to pay it all off by November 30th, which I think is possible, and then start 2019 debt free and with all the line items in my budget fully stocked.

    DSL
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £4,274.16/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £paid off/£1,894.92| Total Debt Repayments: £7,735.15/£12,585.14 (61.46%) | Outstanding Debt: £4,849.99 | House Move Fund: £0 / £4,000
    • DrSpendLittle
    • By DrSpendLittle 16th Jul 18, 11:27 AM
    • 366 Posts
    • 1,263 Thanks
    DrSpendLittle
    Just discovered your diary Dr Spendlittle.....really interesting hearing you talk about these debt behaviours....I recognise them very easily!! Well done in how far you have got, and in changing your mindset.
    Originally posted by Gemsy81
    Thanks Gemsy! I've spent a lot of time, since starting my diary, thinking about what causes my spending and why. I seem to dive really deeply into things and just have to have everything all at once, like my sport hobbies. Hopefully I'm much more measured now.

    DSL
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £4,274.16/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £paid off/£1,894.92| Total Debt Repayments: £7,735.15/£12,585.14 (61.46%) | Outstanding Debt: £4,849.99 | House Move Fund: £0 / £4,000
    • DrSpendLittle
    • By DrSpendLittle 16th Jul 18, 11:46 AM
    • 366 Posts
    • 1,263 Thanks
    DrSpendLittle
    Yesterday was a good day of sorting, cleaning and updating the 'hoover cupboard', a place where stuff without a home is dumped. I cleaned it out, sorted stuff into 'keep' and 'bin' piles and then took the loosers to the tip / stuff heaven.

    I then went into town to pick up the new hoover (we also bought an e-cloth deep cleaning mop which I highly recommend) and did a little food shop. Whilst I was in town, I bought a plastic box from the charity shop to store all the miscellaneous items that had been shoved in the hoover cupboard (car wash, shoe cleaner etc etc). I love a good bit of organising.

    I spent some time yesterday evening working through my monthly budgets for the rest of the year to ensue my DFD of 30th November can be realised. My rough debt repayment plan, notwithstanding any significant car, house, teeth or emergency expenses, is:

    August £200 (a small payment as I need to cover holiday expenses and top up my EF)
    September £1,489.20
    October £1,218.71
    November £778.71
    December £988.61 (made using November's last day of the month salary payment)

    The above payments account for birthday, xmas, car insurance, house insurance and car service costs that I will incur from October to December. I also need to take £324.76 from my work fee, due to be paid soon, and make a one off payment, probably in October.

    DSL
    Since 1st September 2017
    CC1: £paid off/£1,253.73 | CC2: £4,274.16/£9,124.15 | CC3: £paid off/£312.34 | Car Finance: £paid off/£1,894.92| Total Debt Repayments: £7,735.15/£12,585.14 (61.46%) | Outstanding Debt: £4,849.99 | House Move Fund: £0 / £4,000
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