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  • FIRST POST
    • Crikey123
    • By Crikey123 9th Nov 17, 11:17 AM
    • 32Posts
    • 85Thanks
    Crikey123
    Holy moly!!
    • #1
    • 9th Nov 17, 11:17 AM
    Holy moly!! 9th Nov 17 at 11:17 AM
    I've decided to start a diary. I started reading these forums a few months ago but never joined in, just used it to try and get some motivation. That didn't work, I'd tell myself I wanted to deal with my debts but would then see a nice dress or want a takeaway on a Friday night so the credit card would come out, but something has finally kicked my butt into gear.

    Basically I was a hair thread away from losing my job. The company I work for had some quite serious cashflow problems, so the Directors were considering closing down. Luckily they've decided to put some money into it to get through the short term issue and I know that with the cash injection, the company can work through this (I work in accounts so know that much at least).

    Anyway, this made me go into a blind panic because I have massive debts and no savings. I'm almost 40 now so am slightly ashamed that I'm still in this position, but no point in looking back is there. Time to look forward and plan ahead.

    I'll do my SOA later. I use YNAB, have used it for a few years after my friend introduced me to it. My problem is I do my budgets on YNAB, but then spend money & then adjust everything in YNAB after spending which means I end up having less money to pay towards my debts because I've spent the 'spare' money on other things instead. I have to stop doing this, start sticking to my budget. I do pay more than the minimum on all the cards and most of them are on 0% balance transfer deals, but I know I'll struggle to get any more deals so if any of these run out & start having interest added on that will be even tougher on the budget.

    My total debts are 26481.12! Honestly I have nothing to show for it. We've had some amazing holidays, our children have the latest gadgets, toys crammed in every corner of our house and we have wardrobes stuffed full of nice clothes, but I've realised that means nothing when my debts are so high.

    I'm determined to deal with this. I have a decent salary and regular overtime. My biggest fear is losing my job and having to rely on one wage. If I get rid of the debts that won't be a problem.

    So, here I go.
Page 3
    • ramblehan
    • By ramblehan 14th Feb 18, 4:36 PM
    • 592 Posts
    • 1,217 Thanks
    ramblehan
    I use YNAB, have used it for a few years after my friend introduced me to it. My problem is I do my budgets on YNAB, but then spend money & then adjust everything in YNAB after spending which means I end up having less money to pay towards my debts because I've spent the 'spare' money on other things instead. I have to stop doing this, start sticking to my budget.
    Originally posted by Crikey123
    This is SO my problem too. Subscribing. Looking to forward to following your journey xxx
    • Crikey123
    • By Crikey123 20th Feb 18, 2:31 PM
    • 32 Posts
    • 85 Thanks
    Crikey123
    Hi ramblehan, it's a nightmare isn't it. I am getting better though so hopefully debt busting is going to change my whole way of spending long term as well as short term. I definitely don't want to be back here in a few years having run up another load of debt!!

    I haven't put anything on ebay recently. I did get into a bit of a routine of putting a few things on every week but really didn't get chance last week. I will put a few things on there this week though. It might not seem much when things are only selling for a few pounds here & there, but I worked out earlier today that since October I have made around 450 on there minus postage & ebay fees. That has definitely kicked my butt into gear to make sure I find the time this week.

    My grocery spend has gone a bit crazy this month and I have gone a bit over my original budget that I had set, having to 'borrow' money from the money that I had allocated to pay off the credit card. I need to look at the receipts and work out why. I know I spent a bit extra because my daughter was having friends over last weekend and did do a stock up shop of things like washing powder, toilet roll, toiletries etc but it still seems to be really high even taking this into consideration. I'll have a look through my receipts tonight to work out where I have gone wrong

    I have had a no spend day today. I brought lunch to work with me and don't need to get any top up shopping so I'll go straight home, make dinner (already taken something out of the freezer) and relax. I made lunch for the next 3 days yesterday as well so that will stop me spending money on lunch for the rest of this week. The little 3 here & there add up!
    • Crikey123
    • By Crikey123 27th Feb 18, 11:05 AM
    • 32 Posts
    • 85 Thanks
    Crikey123
    Well it's the end of February so I feel like it's a good time to update how things are going.

    February repayments didn't go as well as I had hoped, but I did make more than the minimum on all debts. At the beginning of the month I was hoping to repay around 1400-1500 but total repyaments were only 1300. I know it's still a huge amount & I am still clearing more than the minimum every month, so I am pleased with that, but I just overspent massively this month on groceries. I suppose the good thing is I can see where I have overspent so can address the issue.

    My aim this month is to keep in control of my grocery budget. I have set the budget, have an order being delivered on Friday & I have a quiet weekend planned this weekend, so will sit down properly and work out decent meal plans.

    I enjoyed the cake that I baked recently so want to do more baking on the weekend and also make some soup that I can take to work for lunch.

    Surveys are ticking along, although I've not done as many over the last 2 weeks so the amounts aren't increasing as quickly as I'd like. I'll get back into it this week as well as some ebaying again.

    I just can't wait for these balances to start disappearing. I keep looking at them & wishing them away, I wish debt was as easy to get rid of as it is to accrue. This is why I need to focus on the smaller targets for now, because otherwise it all seems such a long journey! As I said before, my first target is to get the one card below 3.5k. I've worked my budgets out & it looks like I'll be able to pay around 800 towards this debt, which is a massive chunk & will get me so much closer to this first target.
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 27th Feb 18, 12:48 PM
    • 1,320 Posts
    • 6,144 Thanks
    wishingthemortgaheaway
    Is it not better to meal plan before doing the shopping order? I can understand planning afterwards if you shop in person and you can't make a list of ys food or what's available in the market, but, with delivery is it not better to plan beforehand?
    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
    Term Mortgage free date: October 2029 Current mortgage free date: April 2025 March 2024 Jan 2024
    MFW 2018 Challenge Member #162 1600ish/2,500
    • ramblehan
    • By ramblehan 2nd Mar 18, 11:22 AM
    • 592 Posts
    • 1,217 Thanks
    ramblehan
    waving hello.

    our groceries budget always look horrendous but i tend to stick other stuff in there too like medicines, or if we have eaten out. Might try and split things out so i can see a true cost in the future. We have to drive a lot to pick up my SS so if thats a late pick up it usually means eating out on the way....not sure what i can do with this as have to pick up after school and its a 2 hr drive!

    well done for paying off 1300! that is amazing. Don't beat yourself for hitting your other target. Might be better to set yourself a slightly easier goal so you keep positive. xxx
    Last edited by ramblehan; 02-03-2018 at 11:24 AM.
    • Poppy1984
    • By Poppy1984 3rd Mar 18, 11:27 PM
    • 178 Posts
    • 352 Thanks
    Poppy1984
    Hi there just been reading your diary wow you have made such a difference since November!!! Well done. Subscribing x
    19-02-18 Total Debt 4,015 Next 815 Very 1600 Tesco Credit Card 1600
    PAID Next 815/815 now closed Very 900/ 1600 Tesco 160/ 1600
    Emergency Fund 280/300
    • Mydmp
    • By Mydmp 4th Mar 18, 1:38 AM
    • 28 Posts
    • 103 Thanks
    Mydmp
    This is SO my problem too. Subscribing. Looking to forward to following your journey xxx
    Originally posted by ramblehan
    We have exactly the same problem. Really like YNAB but need to start using it properly.
    • Stayathomemum36
    • By Stayathomemum36 4th Mar 18, 8:03 AM
    • 47 Posts
    • 151 Thanks
    Stayathomemum36
    Very same issue here with grocery spend and YNAB budget. This months target is to split out the grocery spend and to try (again) to use YNAB better!

    Well done on the progress, for a long time I felt that there was no point paying a 5 or 10 extra to debt but now I try to see it as progress to the end goal. Hard when it feels never ending though x
    PAD 2018 867 1k emergency fund chall 368 / 1000. DFD "Making the changes and sticking to it".O/D 550/0 [STRIKE]Next 636 0[/STRIKE CC Debt: 2903128182.10
    • Crikey123
    • By Crikey123 5th Mar 18, 1:26 PM
    • 32 Posts
    • 85 Thanks
    Crikey123
    Wow hello all! I logged on today just to update, wasn't expecting so many responses. Thank you to everyone who is reading along & have given me words of encouragement or advice.

    Right, on the groceries note. I finally did it, I made a meal plan!! I am trying to eat a bit healthier as I've noticed the weight creeping on. Also with the weather reports last week I realized my Friday delivery wouldn't have happened, so I cancelled it & decided to go shopping after work on Wednesday. BUT, I didn't want to go in there & just throw random things in my trolley & not have any actual meals, so while I was on my lunch break I made a 4 week meal plan & a shopping list to cover all the food I needed for Week 1 (started today) plus the meals I'd planned for the weekend. I'll keep an eye on it now, I've put some stuff in the freezer & will take out what I need each evening.

    YNAB really is my debt lifeline. It's motivating me so much seeing the balances changing each month. I know that it will take some time but at least it's not going up anymore

    Believe it or not, the snow days lately have helped with the debt busting. I haven't been able to go anywhere so not used any fuel, which means my fuel budget for March will last a little bit longer now. Plus because we've not been anywhere we haven't spent any money on anything at all and I also spent some time putting stuff on ebay again & found a few extra things that I can sell.

    I've updated YNAB today because most of our bills come out at the beginning of the month & looks like a good month for repayments this month. I have budgeted for Mothers Day already & also have some birthdays to pay for this month, but for one of the birthdays I am going to use a gift voucher that I was given for Christmas.

    I thought my home insurance renewal was due this month, but I just checked & it isn't due until next month. I have been putting the money aside every month & have enough to cover it. My current provider has already quoted. I have looked around but it is actually still the cheapest, which is surprising because usually auto renewals work out more expensive. I will check again closer to the time though, just in case I get any better quotes.

    ramblehan - I used to put all takeaways in with my groceries, but I now have a 'Spending Money' category. If I haven't got enough money for 'Spending' then I can't have takeaway. Hopefully this will help with losing a bit of weight too!

    SAHM36 & Mydmp - do it, YNAB helps me so much. I actually look forward to logging on to my bank & seeing direct debits leave the account so that I can update YNAB & see the balances changing.

    Poppy1984 - thank you, I have really got my head into it now & enjoy saving money and paying money off a credit card. Every payment I make means I'm one payment closer to being debt free & I can't wait for the day I have all this money as savings & disposable income rather than debt repayments.
    • wishingthemortgaheaway
    • By wishingthemortgaheaway 5th Mar 18, 1:46 PM
    • 1,320 Posts
    • 6,144 Thanks
    wishingthemortgaheaway
    It's still worth ringing your currant insurance provider and saying 'is this really the best you can do?' You usually get a bit of a discount. I do this most of the time, although this time I did change providers for car insurance.
    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
    Term Mortgage free date: October 2029 Current mortgage free date: April 2025 March 2024 Jan 2024
    MFW 2018 Challenge Member #162 1600ish/2,500
    • Crikey123
    • By Crikey123 6th Mar 18, 1:58 PM
    • 32 Posts
    • 85 Thanks
    Crikey123
    Thank you wishing, I will do that
    • Crikey123
    • By Crikey123 30th Apr 18, 10:16 AM
    • 32 Posts
    • 85 Thanks
    Crikey123
    Wow it's been ages since I updated.

    Things are just ticking along really. I'm averaging around 1400 per month. I want to start doing some car boot sales but the weather is so unpredictable right now and it's driving me nuts.

    I managed to switch everything over to 0% deals which is great because it was really getting on my nerves seeing the interest being charged every month. At least now my monthly payments are just clearing the debt.

    It was payday for me on Friday so I've updated YNAB and got all my budgets covered for May. I can't wait for the day when I can allocate all my spare money to things other than debt repayments! I am budgeting a small amount for treats but my priority is the debts at the moment.
    • Chrystal
    • By Chrystal 30th Apr 18, 5:52 PM
    • 261 Posts
    • 1,709 Thanks
    Chrystal
    Sounds as though you're in a really positive place at the moment, which is fabulous.

    Great that you managed to switch to 0% deals.... now ALL the payment comes off your balance

    Keep posting as it does help keep you focused.
    GC. Oct.17 = 261.18/ 300 = + 38.82 NSDs 20/31
    GC. Sept.17 = 354.89/300 = - 54.39

    • Crikey123
    • By Crikey123 2nd May 18, 3:23 PM
    • 32 Posts
    • 85 Thanks
    Crikey123
    Thanks Chrystal, I am feeling positive at the moment & trying to keep focused on getting the debts paid. I think getting them all on 0% now has really helped to kick start the motivation again. I've made a few payments today & it feels so good being able to update the totals. I am determined to make big dents in these debts over the next few months. I have small targets in my head, the one being that I want to get the largest card balance under 6k and by the looks of it I should manage that by the end of this month
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