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  • FIRST POST
    • SnowBallBunny
    • By SnowBallBunny 25th Nov 17, 1:03 PM
    • 134Posts
    • 280Thanks
    SnowBallBunny
    Financial Freedom + Self Care
    • #1
    • 25th Nov 17, 1:03 PM
    Financial Freedom + Self Care 25th Nov 17 at 1:03 PM
    Hello everyone,

    I want to pay off my debt and move forward with my life. I am a young woman with no children and I am capable of addressing this, I can change things for the better now.

    I thought I'd seek support and encouragement here as this whole process can be so stressful. And although a lot of people are in debt, it is a taboo subject, no one talks about it. I will be logging my progress here at least once a week. I plan to complete Dave Ramseys Baby Steps 1 and 2 by the end of 2018.

    Baby Step 1 Save £1K Emergency Fund.
    Baby Step 2 Pay off debts smallest to largest.

    At the moment I am temping at a University as an Administrator until mid February 2016 - while looking for a permanent role or contract role (12 months+). I would like to be self employed as a Project Management Officer and retrained late last year in order to do this work. The market is slow at the moment, and I have been approached about roles but have not secured anything yet. I can make my company dormant for a year or two while I work at a permanent/contract role and pay off the debt.

    I am an Artist at heart but pursuing my creativity is part of the reason that I am in debt now so I'd like to earn more money and perhaps find time (either weekends or holidays) when I can do something creative just for myself. Once I have paid off the debt my mind will be clearer. I also considered starting a small side-business this year selling hair care products as I make them for myself but I just feel so stressed by this debt, it is hard to think about anything else.

    It is hard to not obsess about the debt and the stress has affected my sleep. I have slept 4 hours a night each night over the past two weeks. I bought some herbal sleeping pills and will do more to calm myself down and practice self-care:
    Aromatherapy - I already have oils have and know how to blend oils so this will not cost me anything.
    Meditation - Free and there is a Buddhist Centre near work that I can go to as well as a Chapel I can visit to relax and be still.
    Walks - I can walk at lunch time and part of the way home to begin with, 30 mins a day does not feel like much but it is a start.
    Swimming - I can swim for free on weekends within my local area.

    I find myself regretting so many decisions that I have made. I could have saved so much money while I lived at home and made better decisions. I worked so hard and did not save, instead I got into debt. I did not feel like I could tell anyone for ages or get any help and I have felt so stuck, defeated and alone.

    My sister is the only one who knows about the debt and I do not want to stress her out or to burden her with what I am feeling. I do not feel like I can tell any friends or other relatives. Also I have not seen my friends for ages and felt so isolated at my previous workplace that I really need to socialise - for free. I will be volunteering at a local homeless shelter today.

    In five years my aim is to work as a Business Analyst. I am studying for a Business Analysis qualification and will save up for the exam as soon as I can afford to. I have the textbook and reading it is free so I think that is the best thing for me to do right now, simply study at home.

    I am budgeting and watching every penny. As I am working as a temp, I am getting paid per hour and receive money weekly. So I have weekly and monthly budgets as my hours can vary slightly.

    Week One Summary
    Task: Use my Debit Card only.

    I have had to use CC 1 for travel and food over the past few weeks as I was waiting to get paid, through my Debit account. As I got paid yesterday I can now switch to my Debit Card and move forward using that one card. This will stabilise the debts on the other cards moving forward.

    Debts
    Credit Card 1 £6,000/£5,944.34
    Debit Card 2 £5,000/£4,899.63 (Using this account to pay bills so it will fluctuate)
    Credit Card 2 £1,200/£1,186.48
    Accountancy Bill £144 (Last Payment in December)
    Tax Bill £750 (Monthly instalments December 2017 !!!8211; May 2018 / £150 per month)
    Library fines £90
    Donation for a group art project I have decided not to do £15
    Total £13,029

    Week Two Goal
    Put £200 in Energy Fund - Unexpected expenses can arise so my aim is to set aside £200 for an Emergency Fund. I am temping so I want to set aside a 1 month Emergency Fund of £1K by January just incase something happens with this contract. Then I will move to Baby Step 2 and pay off the remaining debts from smallest to largest.

    Week Two Budget
    Earnings £458.28
    Bills Broadband £18.99
    Credit Card 1 Payment £150
    Travel £15
    Food £15
    Total: 259.29

    I am not going out, socialising or doing anything fun that is not free of charge. Hopefully I can go to a free art exhibition or something like that sometime soon. The stress I have been feeling has been so draining. The University has a free telephone counselling service, I called last week and spoke to someone lovely. I will try to call again more regularly. My minimum payments and bills are being met and now I will have some additional money to fund Baby Step 1.

    I do not drink alcohol or smoke so that is not an issue, as Dave says I am eating Rice and Beans, Beans and Rice until this is taken care of.

    Thanks for reading and all the best with your debt-free journeys.
    Last edited by SnowBallBunny; 04-03-2018 at 9:53 PM.
Page 7
    • SnowBallBunny
    • By SnowBallBunny 3rd Feb 18, 9:49 PM
    • 134 Posts
    • 280 Thanks
    SnowBallBunny
    Job Update: My contract has been extended until the end of May, with a possible further extension. After that a senior manager will be replaced and they'll make decisions about the role, namely the job description and salary. As it stands, the permanent salary equivalent for the role would not pay that well however that could change.

    Upcoming Expense £200 - £350 Cooker - The oven is over 15 years old. It's a dual oven so the bottom oven is broken and has been for 2 years. For basic safety reasons it needs to be replaced, not today but this is something I need to plan for in the coming months.
    Credit Card 1 £6,000/£5,529.63 Debit Card £5,000/£4,186.74 (Debit Card includes Emergency Fund £1000) Credit Card 2 £1200/£822.91 Tax Bill £750/£0 Library Fine £90/£0 Accountancy Bill £720/£0 Cancelled Art Project Donation £15/£0
    Total £13,199/£10,539

    A SnowballBunny, hopping my way to Financial Freedom.
    • SnowBallBunny
    • By SnowBallBunny 4th Feb 18, 9:39 PM
    • 134 Posts
    • 280 Thanks
    SnowBallBunny
    I completed two applications today, both within Universities.

    Programme Administrator role, the salary scale is great, it would pay well.

    Finance Project Assistant role, pays less but offers good experience.
    Last edited by SnowBallBunny; 04-02-2018 at 10:54 PM.
    Credit Card 1 £6,000/£5,529.63 Debit Card £5,000/£4,186.74 (Debit Card includes Emergency Fund £1000) Credit Card 2 £1200/£822.91 Tax Bill £750/£0 Library Fine £90/£0 Accountancy Bill £720/£0 Cancelled Art Project Donation £15/£0
    Total £13,199/£10,539

    A SnowballBunny, hopping my way to Financial Freedom.
    • CoffeeCakeYarn
    • By CoffeeCakeYarn 5th Feb 18, 4:50 PM
    • 208 Posts
    • 682 Thanks
    CoffeeCakeYarn
    Just wanted to check in and say hey, hope you're doing okay. Well done on the swimming, small steps. Also the socialising. I find it so hard talking to/meeting new people, it drains me, so I really admire you for making such an effort with it.


    I know you probably already would, but don't forget quidco or top cash back for when you purchase the cooker
    PAY BACK THE FUN SPEND! £38.72/£137.67
    MBNA - £2233.51/£2385 - 6.35%
    Emergency Fund £26/£1000
    • SnowBallBunny
    • By SnowBallBunny 5th Feb 18, 9:19 PM
    • 134 Posts
    • 280 Thanks
    SnowBallBunny
    Just wanted to check in and say hey, hope you're doing okay. Well done on the swimming, small steps. Also the socialising. I find it so hard talking to/meeting new people, it drains me, so I really admire you for making such an effort with it.


    I know you probably already would, but don't forget quidco or top cash back for when you purchase the cooker
    Originally posted by CoffeeCakeYarn
    Thanks for your encoouraging words Coffee! Small steps.

    Regarding the cooker, I will wait but Quidco/Top Cashback are good options to look at when the time comes.
    Last edited by SnowBallBunny; 05-02-2018 at 10:22 PM.
    Credit Card 1 £6,000/£5,529.63 Debit Card £5,000/£4,186.74 (Debit Card includes Emergency Fund £1000) Credit Card 2 £1200/£822.91 Tax Bill £750/£0 Library Fine £90/£0 Accountancy Bill £720/£0 Cancelled Art Project Donation £15/£0
    Total £13,199/£10,539

    A SnowballBunny, hopping my way to Financial Freedom.
    • SnowBallBunny
    • By SnowBallBunny 5th Feb 18, 9:26 PM
    • 134 Posts
    • 280 Thanks
    SnowBallBunny
    Job Stuff: I was not shortlisted for the Project Officer at the Legal organisation I applied for, the recruitment consultant has requested feedback.

    Unexpected Expenses
    £780 I have an Accountancy bill for services for the rest of the year coming up. This will be covered by my tax refund from last year. It was a bit of a shock although not entirely unexpected.

    Chocolates One of the Managers bought me a small box of chocolate as a thank you for the work I've been doing on a project of hers. It was really sweet and unexpected. Really appreciate it.
    Credit Card 1 £6,000/£5,529.63 Debit Card £5,000/£4,186.74 (Debit Card includes Emergency Fund £1000) Credit Card 2 £1200/£822.91 Tax Bill £750/£0 Library Fine £90/£0 Accountancy Bill £720/£0 Cancelled Art Project Donation £15/£0
    Total £13,199/£10,539

    A SnowballBunny, hopping my way to Financial Freedom.
    • SnowBallBunny
    • By SnowBallBunny 6th Feb 18, 8:14 PM
    • 134 Posts
    • 280 Thanks
    SnowBallBunny
    My Cousin invited me to a concert. I've seen the singer before and he's great but I had to say no, it would have cost £60 plus dinner. And as far as I see it, concerts, dinners, holidays are off the table while I'm paying off debt.

    A friend invited me for food, she's lovely and we have been meaning to meet up this year. I've text her the same thing I text my cousin, I'm saving cash so I'm avoiding going to dinners. However I made it clear that I want to see her and catch up.

    My cousin invited me to a free music-themed art exhibition instead so we;ll see that.
    Last edited by SnowBallBunny; 06-02-2018 at 8:58 PM.
    Credit Card 1 £6,000/£5,529.63 Debit Card £5,000/£4,186.74 (Debit Card includes Emergency Fund £1000) Credit Card 2 £1200/£822.91 Tax Bill £750/£0 Library Fine £90/£0 Accountancy Bill £720/£0 Cancelled Art Project Donation £15/£0
    Total £13,199/£10,539

    A SnowballBunny, hopping my way to Financial Freedom.
    • SnowBallBunny
    • By SnowBallBunny 8th Feb 18, 8:34 PM
    • 134 Posts
    • 280 Thanks
    SnowBallBunny
    Hey everyone,

    Quick update.

    Had lunch with my colleague Greg, eveyone else was busy today and I'm not going to a work lunch that's happening tomorrow as everyone will be going to a restaurant. We both had our own food with us. It was good because I felt like we were able to discuss some workplaces challenges. I also recieved a tip about a colleague who is going to leave her role soon and he encouraged me to go for the role. I think it would be temporary too, a bit better paid and would involve some travel - I miss the sun. It's more of a project role. I'll see what's happening with the role.

    I'm waiting to hear about recent interviews.

    My sister invited me to her second house viewing this weekend - I'll go and see her place and show support.

    Still working on not beating myself up.

    Paid another installment on my tax bill so it's now £300. I wanted to pay it off early but I'll continue to go step by step, it'll be paid by April.

    Getting a permanent job and having a creative outlet will help - will just choose something soon and get things moving.

    As always, thanks for reading. I appreciate you all, including the lurkers. Hope you're all having a great week.
    Credit Card 1 £6,000/£5,529.63 Debit Card £5,000/£4,186.74 (Debit Card includes Emergency Fund £1000) Credit Card 2 £1200/£822.91 Tax Bill £750/£0 Library Fine £90/£0 Accountancy Bill £720/£0 Cancelled Art Project Donation £15/£0
    Total £13,199/£10,539

    A SnowballBunny, hopping my way to Financial Freedom.
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 8th Feb 18, 8:38 PM
    • 3,859 Posts
    • 25,615 Thanks
    HairyHandofDartmoor
    Good luck with your job applications, especially the one where you already work. Your colleague Greg sounds supportive .

    You're sensible to go for free entertainment rather than expensive dinners or concerts.
    My Diary http://forums.moneysavingexpert.com/showthread.php?t=5716867
    Debt in July 2017 = £58,766 DEBT FREE 31 OCTOBER 2017
    NEW GOALS - Build an Emergency Fund & Loss of Income Fund. Then save up for repairs to the house.
    Emergency Fund 1 = £530/Emergency Fund 2 = £0/Loss of Income Fund £0
    • SnowBallBunny
    • By SnowBallBunny 9th Feb 18, 8:59 PM
    • 134 Posts
    • 280 Thanks
    SnowBallBunny
    Good luck with your job applications, especially the one where you already work. Your colleague Greg sounds supportive .

    You're sensible to go for free entertainment rather than expensive dinners or concerts.
    Originally posted by HairyHandofDartmoor
    Thanks Hairy, I'll have a chat with the Hiring Manager on Monday to find out more about the role.
    Credit Card 1 £6,000/£5,529.63 Debit Card £5,000/£4,186.74 (Debit Card includes Emergency Fund £1000) Credit Card 2 £1200/£822.91 Tax Bill £750/£0 Library Fine £90/£0 Accountancy Bill £720/£0 Cancelled Art Project Donation £15/£0
    Total £13,199/£10,539

    A SnowballBunny, hopping my way to Financial Freedom.
    • SnowBallBunny
    • By SnowBallBunny 15th Feb 18, 8:55 PM
    • 134 Posts
    • 280 Thanks
    SnowBallBunny
    I interviewed for and was offered the Project Support Role within my exisiting team. It's temporary too (until mid May) with the possibility of extension until December or even further. It pays more than I'm making now and I'll have a chance to learn more about Projects and do a bit of Communications work too.

    I'll keep looking for a permanent role but I think it's a good move, more money and a chance to learn new skills.
    Credit Card 1 £6,000/£5,529.63 Debit Card £5,000/£4,186.74 (Debit Card includes Emergency Fund £1000) Credit Card 2 £1200/£822.91 Tax Bill £750/£0 Library Fine £90/£0 Accountancy Bill £720/£0 Cancelled Art Project Donation £15/£0
    Total £13,199/£10,539

    A SnowballBunny, hopping my way to Financial Freedom.
    • SnowBallBunny
    • By SnowBallBunny 17th Feb 18, 10:17 AM
    • 134 Posts
    • 280 Thanks
    SnowBallBunny
    Hey everyone,

    Hope you're all having a good week.

    I'm still working on not beating myself up for past mistakes and being more positive about the future.

    Since joining DFW in November 2017 I've paid off £2747.13. When I update my signature, I'll post the new signature to help keep track of my progress as I only noticed how much I'd paid off today.

    Signature 17/2/2018
    Credit Card 1 £6,000/£5753.88 Debit Card £5,000/£3756.50 (Debit Card includes Emergency Fund £1000) Credit Card 2 £1200/£941.49 Tax Bill £750/ £300 Library Fine £90 Accountancy Bill £144 (Last Payment 14.12.17) Cancelled Art Project Fundraising Donation £15
    Total £13,199/£10451.87

    Unexpected expense £7.99 - Going to the cinema with my sister this weekend.

    £Free - I went to the Music themed art exhibition with my cousin and a friend of her's this week. It was very interesting and we all had a good time.

    I have another exhibition in mind so we'll see.

    Thanks for reading and following this journey, including the lurkers. I hope you gain something positive from this diary.

    Thanks.
    Credit Card 1 £6,000/£5,529.63 Debit Card £5,000/£4,186.74 (Debit Card includes Emergency Fund £1000) Credit Card 2 £1200/£822.91 Tax Bill £750/£0 Library Fine £90/£0 Accountancy Bill £720/£0 Cancelled Art Project Donation £15/£0
    Total £13,199/£10,539

    A SnowballBunny, hopping my way to Financial Freedom.
    • SnowBallBunny
    • By SnowBallBunny 17th Feb 18, 11:17 PM
    • 134 Posts
    • 280 Thanks
    SnowBallBunny
    The film was great. We went to see Black Panther. Highly recommend it. Entertaining, interesting, strong storyline and funny.
    Credit Card 1 £6,000/£5,529.63 Debit Card £5,000/£4,186.74 (Debit Card includes Emergency Fund £1000) Credit Card 2 £1200/£822.91 Tax Bill £750/£0 Library Fine £90/£0 Accountancy Bill £720/£0 Cancelled Art Project Donation £15/£0
    Total £13,199/£10,539

    A SnowballBunny, hopping my way to Financial Freedom.
    • SnowBallBunny
    • By SnowBallBunny 21st Feb 18, 7:48 PM
    • 134 Posts
    • 280 Thanks
    SnowBallBunny
    I feel conflicted about the whole housing situation. I had a chat with a friend who I thought could move in but she's happy where she is right now.

    I either have to choose to live alone or to invite family to live here too - a couple with there small child whose is 6 and adorable but living with a couple and a child feels like a lot to take on.
    Credit Card 1 £6,000/£5,529.63 Debit Card £5,000/£4,186.74 (Debit Card includes Emergency Fund £1000) Credit Card 2 £1200/£822.91 Tax Bill £750/£0 Library Fine £90/£0 Accountancy Bill £720/£0 Cancelled Art Project Donation £15/£0
    Total £13,199/£10,539

    A SnowballBunny, hopping my way to Financial Freedom.
    • Jigglebiz
    • By Jigglebiz 22nd Feb 18, 5:30 PM
    • 22 Posts
    • 30 Thanks
    Jigglebiz
    Hi Snowball, just delurking to say Iíve been following your journey and think youíre doing great things!

    Certainly understand your ambivalence about having a young family move in with you. Needs to be carefully considered. What are the financial or emotional implications of living alone ?
    • SnowBallBunny
    • By SnowBallBunny 25th Feb 18, 11:21 AM
    • 134 Posts
    • 280 Thanks
    SnowBallBunny
    Hi Snowball, just delurking to say Iíve been following your journey and think youíre doing great things!

    Certainly understand your ambivalence about having a young family move in with you. Needs to be carefully considered. What are the financial or emotional implications of living alone ?
    Originally posted by Jigglebiz
    Hi Jigglebiz,

    Thanks for taking the time to leave such an encouraging message. It can feel like I'm not doing enough quickly enough so thanks for delurking.

    "What are the financial or emotional implications of living alone ?" is a good question. Financially it would mean the difference between me paying £600 or £1200 off the debt every month. On my current salary.

    Emotionally, living alone would be a change, having lived with someone else for years. I know I need to socialise and connect with friends more.
    Credit Card 1 £6,000/£5,529.63 Debit Card £5,000/£4,186.74 (Debit Card includes Emergency Fund £1000) Credit Card 2 £1200/£822.91 Tax Bill £750/£0 Library Fine £90/£0 Accountancy Bill £720/£0 Cancelled Art Project Donation £15/£0
    Total £13,199/£10,539

    A SnowballBunny, hopping my way to Financial Freedom.
    • Jigglebiz
    • By Jigglebiz 26th Feb 18, 10:07 PM
    • 22 Posts
    • 30 Thanks
    Jigglebiz
    Itís certainly difficult to decide what is the best course of action when paying off debt. Many life decisions have financial consequences, but sometimes the best path of action in terms of debt is not sustainable emotionally. I wonder if there is another way forward with the living situation that does not mean sharing with a young family, but allows you to continue paying off as much debt as possible? For example, finding another young professional housemate to share with?
    I hope you are having a good week.
    • SnowBallBunny
    • By SnowBallBunny 28th Feb 18, 7:15 PM
    • 134 Posts
    • 280 Thanks
    SnowBallBunny
    Hey everyone,

    I realised that I didn't do my usual weekly update last week.

    Unexpected expense

    Lunch x 3 £17.25 - Am I happy about it, nope. So last week I bought lunch three times, I ran out of food early on in the week and I didn't cook and to be honest I was feeling very down last week and wasn't as organised regarding cooking.

    Required expense
    Cooker £435 - I decided to replace the cooker, it's been in the house, longer than I can remember, perhaps 15 years. The bottom oven has been broken for 5 years and it wasn't replaced. My emergency fund is still in tact.

    Moving forward I want to start sleeping properly again.
    Credit Card 1 £6,000/£5,529.63 Debit Card £5,000/£4,186.74 (Debit Card includes Emergency Fund £1000) Credit Card 2 £1200/£822.91 Tax Bill £750/£0 Library Fine £90/£0 Accountancy Bill £720/£0 Cancelled Art Project Donation £15/£0
    Total £13,199/£10,539

    A SnowballBunny, hopping my way to Financial Freedom.
    • SnowBallBunny
    • By SnowBallBunny 28th Feb 18, 8:19 PM
    • 134 Posts
    • 280 Thanks
    SnowBallBunny
    Itís certainly difficult to decide what is the best course of action when paying off debt. Many life decisions have financial consequences, but sometimes the best path of action in terms of debt is not sustainable emotionally. I wonder if there is another way forward with the living situation that does not mean sharing with a young family, but allows you to continue paying off as much debt as possible? For example, finding another young professional housemate to share with?
    I hope you are having a good week.
    Originally posted by Jigglebiz
    Thanks again. A relative is renting out the property at a heavily discounted rate and they will only accept rental from a close friend of mine or another family member. None of my friends are looking for a place at the moment.
    I hope you are having a good week too.
    Credit Card 1 £6,000/£5,529.63 Debit Card £5,000/£4,186.74 (Debit Card includes Emergency Fund £1000) Credit Card 2 £1200/£822.91 Tax Bill £750/£0 Library Fine £90/£0 Accountancy Bill £720/£0 Cancelled Art Project Donation £15/£0
    Total £13,199/£10,539

    A SnowballBunny, hopping my way to Financial Freedom.
    • SnowBallBunny
    • By SnowBallBunny 1st Mar 18, 8:08 PM
    • 134 Posts
    • 280 Thanks
    SnowBallBunny
    Hey everyone,

    Today I paid off two debts.

    Tax Bill £300
    Library Fine £90

    Small steps forward.

    Thank you for commenting, lurking and supporting.
    Credit Card 1 £6,000/£5,529.63 Debit Card £5,000/£4,186.74 (Debit Card includes Emergency Fund £1000) Credit Card 2 £1200/£822.91 Tax Bill £750/£0 Library Fine £90/£0 Accountancy Bill £720/£0 Cancelled Art Project Donation £15/£0
    Total £13,199/£10,539

    A SnowballBunny, hopping my way to Financial Freedom.
    • SnowBallBunny
    • By SnowBallBunny 1st Mar 18, 8:23 PM
    • 134 Posts
    • 280 Thanks
    SnowBallBunny
    As I've paid off some debts, here my...

    New Signature

    Credit Card 1 £6,000/£5603.88 Debit Card £5,000/£3279.11 (Debit Card includes Emergency Fund £1000) Credit Card 2 £1200/£941.49 Tax Bill £750/£0 Library Fine £90/£0 Accountancy Bill £720/£0 Cancelled Art Project Donation £15/£0
    Total £13,199/£9824.48

    A SnowballBunny, hopping my way to Financial Freedom.
    Credit Card 1 £6,000/£5,529.63 Debit Card £5,000/£4,186.74 (Debit Card includes Emergency Fund £1000) Credit Card 2 £1200/£822.91 Tax Bill £750/£0 Library Fine £90/£0 Accountancy Bill £720/£0 Cancelled Art Project Donation £15/£0
    Total £13,199/£10,539

    A SnowballBunny, hopping my way to Financial Freedom.
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