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  • FIRST POST
    • Poppy1984
    • By Poppy1984 19th Feb 18, 10:28 AM
    • 178Posts
    • 357Thanks
    Poppy1984
    Making changes to become debt free
    • #1
    • 19th Feb 18, 10:28 AM
    Making changes to become debt free 19th Feb 18 at 10:28 AM
    Hi Everyone, I've been lurking a while and love the forums especially the debt free wannabe threads. I've decided its time to join and make my own debt free diary.
    Currently I have £3,800.00 of debt that I'm currently only paying the minimum payments of.
    They are made up of 3 debts:
    Next account £600
    Very Account £1,600
    Tesco Credit Card £1,600


    I'm not able to consolidate or transfer any of it onto any 0% cards or loans.


    I need to work out EXACTLY what I have coming in and going out and do a budget.
    I know it sounds pathetic but I seem to work a budget out find I should have enough money spare to pay off more than minimum payments then un expected things come up or things cost more or I actually don't know what happens but I end up short. I do have an overdraft which I frequently dip into but I'm currently not in that and would like to keep it that way. It used to be £2,000 but I've managed to get that paid off and reduce it to £300 for emergencies.


    I've reviewed all my utilities bills and reduced them as much as possible, I think the main thing I over spend on is food shopping ( there's just me and a teenager with hollow legs that's also a very fussy eater living here my partner spends a bit of time here but he does contribute to shopping when he's eating here)
    also I am rubbish at saying no to things that I cant afford (again I know this is pathetic ad there really is no excuse for it)
    Other than that I don't really go crazy spending wise, I don't drink very much (maybe the odd night out a few drinks were talking not even once a month) I don't smoke, I don't buy designer labels, I don't have a fancy car, or big house. Anyway what's my point? lol the top and bottom of it is I am living beyond my means and it STOPS now!!!!!!!!!
    If you've read this far thank you and sorry it was a rambly long post I just needed to vent.
Page 4
    • Poppy1984
    • By Poppy1984 5th Mar 18, 10:17 AM
    • 178 Posts
    • 357 Thanks
    Poppy1984
    I would say having an emergency fund is crucial so building up a cushion of savings first would be best before sending every spare penny to the debt. However the next accounts charge high interest so I agree with Meena that splitting spare money 50/50 until say your EF is £300 initially is a good idea. Hi enthusiastic saver thank you for all your fantastic advice. Okay so the majority vote is 50/50 I definitely want to build up at least £300

    To get rid of the weird numbers instead of apostrophes this only occurs with apple devices running on a particular lad operating system. Go to settings then keyboards and turn Smart Keyboard off. That sorts out the problem
    Originally posted by enthusiasticsaver
    I have done this thank you
    Just a quick look at your soa.

    Glad you are getting rid of the lottery. Add up how much you have spent and how much you have won. It is not worth doing considering every penny counts and the odds of winning are so low.

    I think you should reduce your DS savings account or stop until the debt is gone. Up the emergency fund savings to £50. I can't reduce this (for reasons I don't want to disclose on here)

    I don't think having a general spending category works. Keep a spending diary. That £200 a month would clear your next in 3 months if you can live very frugally with free entertainment and no coffees out etc. Meal plan, use Lidl's or Aldi's for cheap food. You can get cheap presents from b and m or do surveys and get amazon vouchers for presents. I am tracking my spending I use the spending app and have a separate acc on there for bills, shopping and spending money so every penny is accounted for. Yes that's the plan I am living as frugally as possible and any left over "spending" money will go into my EF fund and off debt. It is only my first month so I am hoping that I can have left over money from my shopping and spending budget every month. I am meal planning and shopping at Aldi.

    We don't use fabric conditioner. It is not needed. Definitely using less now I will see If I can stretch the current bottle out as long as possible with a view to giving up completely

    £50 for a mobile phone is really expensive. Move to sim only in June. Same for your DS. DS is already on sim only, I have a sim only lined up to move over to in June for when my contract ends.

    Ideally eventually you should be saving for car insurance and buildings insurance and paying annually. It is cheaper. Something to strive towards although I don't think either of mine are that high monthly.

    Selling stuff you don't use is another good idea. Absolutley

    Making biscuits or sweets or cookies or maybe growing plants from seed for presents can save. Don't give money £20 is a lot and if you are struggling it is not worth stretching your finances for birthday or Xmas presents. I bet your friends would be horrified if they knew how tight your budget is and that you are stressing over finding money for presents for them. Still haven't had a chat with them about this, but I absolutely need to ASAP

    On the plus side your debt is relatively small. Is your credit history bad and that is why you cannot get any 0% deals? Forget about consolidating. It does not work.
    Originally posted by enthusiasticsaver
    Bad credit, but at the moment it is only the Next I am paying interest on, my very is 0% and my Tesco is 0% for now......


    Thank you so much for taking the time to go through my SOA and give me all that advice it is really appreciated.
    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
    • Poppy1984
    • By Poppy1984 5th Mar 18, 2:20 PM
    • 178 Posts
    • 357 Thanks
    Poppy1984
    Hiya, having a really rough day today. I feel really sad and low, I've received a bit of bad news and just feel utterly low.
    I'm counting down the days to pay day (10) I've got money in my bank account for the first time in months and months so this is positive and means I can stick to a budget!
    Whatever is left on the 15th (pay day) I am going to split and put some in EF and pay the rest off the Next account.
    I read a very good piece of advice on this forum amongst all the fabulous advice that is given out that said "anxiety and stress doesn't pay debts, money does" wow that really struck a chord with me. There is no point in me stressing and being anxious, it isn't going to do me any good and it isn't going to pay my debts off any quicker!
    I can't bring any extra wages in but I can try and reduce my spending as much as possible and accept that this is going to take time. I guess I want it gone as quick as possible but realistically it will take some time to get things paid off I also want to concentrate on building a Emergency Fund. Id feel a bit happier if I had at least £300 built up.
    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
    • enthusiasticsaver
    • By enthusiasticsaver 5th Mar 18, 6:09 PM
    • 6,611 Posts
    • 13,905 Thanks
    enthusiasticsaver
    It is hard not to stress about money particularly if you don't have much but in the early days of trying to stick to a budget most people do feel anxious. If they spend outside their budget they usually feel guilty which in turn leads to more stress and anxiety. I would try not to think about it constantly. Set aside maybe 10 or 15 minutes a day to update your spending app tracker or diary to see how much your budget is on track or not. Try to plan for month to month and week to week. Thinking of free enjoyable things to do like going for a walk or having a bath, reading or listening to music will help you manage your stress levels. Eventually this will all become second nature and when your finances are under control your anxiety will reduce.

    Accepting there is no quick fix is key to all this. It is a marathon, not a sprint.
    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
    • Poppy1984
    • By Poppy1984 5th Mar 18, 7:17 PM
    • 178 Posts
    • 357 Thanks
    Poppy1984
    It is hard not to stress about money particularly if you don't have much but in the early days of trying to stick to a budget most people do feel anxious. If they spend outside their budget they usually feel guilty which in turn leads to more stress and anxiety. I would try not to think about it constantly. Set aside maybe 10 or 15 minutes a day to update your spending app tracker or diary to see how much your budget is on track or not. Try to plan for month to month and week to week. Thinking of free enjoyable things to do like going for a walk or having a bath, reading or listening to music will help you manage your stress levels. Eventually this will all become second nature and when your finances are under control your anxiety will reduce.

    Accepting there is no quick fix is key to all this. It is a marathon, not a sprint.
    Originally posted by enthusiasticsaver

    Thank you, at the moment I am obsessing over it constantly and it's getting me down but I know this is how it's got to be for a good while so I need to some how settle in to it. Like you say first month of budgeting is going to hard. I think getting to pay day with money in my account will be a good morale boost and make me feel more confident in my ability to stick to this.
    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
    • Poppy1984
    • By Poppy1984 6th Mar 18, 8:44 PM
    • 178 Posts
    • 357 Thanks
    Poppy1984
    Woohoo had my first NSD TODAY so 1/10 for March. I'm counting down the days until pay day (8) I still have money in my shopping budget but I am going to have to do some shopping before pay day, minimal I hope. I still have money in my spending budget and I don't have much that needs to come out of that unless DS needs something. I need some flowers for Mother's Day but other than that shouldn't spend much more so should hopefully have a little bit to pay off next and a little bit to go into my EF. My item on eBay only sold for £10 I'm gutted but £10s better than nothing and will go into my EF.
    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
    • Starmummy
    • By Starmummy 6th Mar 18, 10:20 PM
    • 119 Posts
    • 540 Thanks
    Starmummy
    Hi Poppy.

    I thought i'd check out your diary after you left a lovely message on mine.

    Try not to get to stressed out with things (I know that is easier said than done). Changing spending habits is hard and it's only natural to want the worries gone immediately. Try not to obsess over it. as another poster commented, 10-15 minutes to update your trackers and a quick nose on the forum then go and do something that is free and self caring. go for a walk now the evenings are longer, read or do some yoga. It's important to look after your mental health.

    I also agree that having a bit of an emergency fund will give you peace of mind (as tempting as it is to pay off the debts first)

    I started keeping a spending diary/spreadsheet at the start of the year to really monitor my spending habits. i note down how much and the category of the spend and also how i was feeling when i spent it. it taught me to keep my bank card at home on days where i was upset or stressed. if i really need things on down days i just take cash that only covers the amount needed for the essential item(s).

    I also saw someone talking about a 48hour rule for non food spends. think about it for 48h and if you still really need/want it and you have wiggle room in the budget then buy it...on the proviso that you do not make yourself feel guilty. I usually give myself a 1 hour rule on take aways too...by the time the hour is over i then can't be bother to wait another 40 minutes for food to be delivered so just make myself some toast or knock up a quick pasta dish.

    remember lots of self care in your journey Poppy

    SM
    • Poppy1984
    • By Poppy1984 12th Mar 18, 11:57 AM
    • 178 Posts
    • 357 Thanks
    Poppy1984
    Hi Poppy.

    I thought i'd check out your diary after you left a lovely message on mine.

    Try not to get to stressed out with things (I know that is easier said than done). Changing spending habits is hard and it's only natural to want the worries gone immediately. Try not to obsess over it. as another poster commented, 10-15 minutes to update your trackers and a quick nose on the forum then go and do something that is free and self caring. go for a walk now the evenings are longer, read or do some yoga. It's important to look after your mental health.

    I also agree that having a bit of an emergency fund will give you peace of mind (as tempting as it is to pay off the debts first)

    I started keeping a spending diary/spreadsheet at the start of the year to really monitor my spending habits. i note down how much and the category of the spend and also how i was feeling when i spent it. it taught me to keep my bank card at home on days where i was upset or stressed. if i really need things on down days i just take cash that only covers the amount needed for the essential item(s).

    I also saw someone talking about a 48hour rule for non food spends. think about it for 48h and if you still really need/want it and you have wiggle room in the budget then buy it...on the proviso that you do not make yourself feel guilty. I usually give myself a 1 hour rule on take aways too...by the time the hour is over i then can't be bother to wait another 40 minutes for food to be delivered so just make myself some toast or knock up a quick pasta dish.

    remember lots of self care in your journey Poppy

    SM
    Originally posted by Starmummy

    Hi Star Mummy, thank you so much for the lovely message I really appreciate it. I've had a break from my diary for a few days, I was getting obsessive and negative! I'm feeling a lot more positive now 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
    • Poppy1984
    • By Poppy1984 12th Mar 18, 12:05 PM
    • 178 Posts
    • 357 Thanks
    Poppy1984
    Hi Diary
    Had a break for a few days, still on a money saving debt busting mission but trying to dial down the obsessiveness and the stress and anxiety!
    Its nearly pay day!!!! Wooooohooooooo!!!!!! 3 days and counting!
    I've sold another item which I got £50 for so that has gone into my Emergency fund which is now sitting at £105 I'm focusing on getting it up to £300 then I will go back to paying my next account off. I have been listening to Dave Ramsey's audio book on YouTube its really inspired me!
    I've put a couple more buts on Ebay but not expecting to get much for them, still every penny counts.
    I've been super good with my shopping budget and only spent £150 / £200 for the month so I'm proud of myself with that one and I haven't spent all my "spending money" budget either although DS needs a few bits that will have to come out of that before the end of the month sadly.
    Still doing surveys but they're very slow, anything I make from them is going into my xmas money account, in fact I might put it into my EF until that's up to £300 then put it into the xmas account after that.
    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
    • MeenaM
    • By MeenaM 13th Mar 18, 6:56 PM
    • 251 Posts
    • 461 Thanks
    MeenaM
    Hi Diary
    Had a break for a few days, still on a money saving debt busting mission but trying to dial down the obsessiveness and the stress and anxiety!
    Its nearly pay day!!!! Wooooohooooooo!!!!!! 3 days and counting!
    I've sold another item which I got £50 for so that has gone into my Emergency fund which is now sitting at £105 I'm focusing on getting it up to £300 then I will go back to paying my next account off. I have been listening to Dave Ramsey's audio book on YouTube its really inspired me!
    I've put a couple more buts on Ebay but not expecting to get much for them, still every penny counts.
    I've been super good with my shopping budget and only spent £150 / £200 for the month so I'm proud of myself with that one and I haven't spent all my "spending money" budget either although DS needs a few bits that will have to come out of that before the end of the month sadly.
    Still doing surveys but they're very slow, anything I make from them is going into my xmas money account, in fact I might put it into my EF until that's up to £300 then put it into the xmas account after that.
    Originally posted by Poppy1984
    yay! you are doing really well I have to get my daily dose of Dave to keep me motivated atm well done on the ebay sales and with keeping to your budget
    Sealed Pot 11. #199Next£1170Barclays Credit Card £4891.20/0- 0% ends April 2019 virgin 0% ends july 2020 £4138 3845.89AA Credit Card £860 0- 0% ends Dec 2017 Sainsburys Credit Card £521.27-0 0% ends Feb 2018 STARTED Nov 17AIM TO BE DEBT FREE JULY 2019Emergency Fund £614/£1000
    • Poppy1984
    • By Poppy1984 13th Mar 18, 9:06 PM
    • 178 Posts
    • 357 Thanks
    Poppy1984
    yay! you are doing really well I have to get my daily dose of Dave to keep me motivated atm well done on the ebay sales and with keeping to your budget
    Originally posted by MeenaM
    Hi meenaM thank you!!!!! Can not wait for pay day!!!! I'm finding Dave so inspiring at the moment, he talks so much sense.
    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
    • onedaysomeday
    • By onedaysomeday 14th Mar 18, 9:20 AM
    • 520 Posts
    • 735 Thanks
    onedaysomeday
    Well done on everything so far
    Just trying to make up for past mistakes and work towards the future I want
    • Poppy1984
    • By Poppy1984 14th Mar 18, 9:18 PM
    • 178 Posts
    • 357 Thanks
    Poppy1984
    Well done on everything so far
    Originally posted by onedaysomeday
    Thank you
    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
    • Poppy1984
    • By Poppy1984 14th Mar 18, 10:14 PM
    • 178 Posts
    • 357 Thanks
    Poppy1984
    Pay day tomorrow!!!!! Wooooop!!!
    I have £150 in my bank (I'm normally well into my overdraft the day before pay day. So I have transferred it to my EF
    I now have £255 in my EF my aim is to get it up to £300 before I go back to paying my next account off so that I have a buffer if something unexpected pops up!
    I've just cashed out £5 on prolific surveys so that will take me up to £260 when that clears and I'll hopefully make the £40 selling on eBay over the next few weeks.
    Ps my referral link for prolific is https://www.prolific.ac/p?ref=YJR7UYDW if anyone would be kind enough to use it to join
    I like it as the surveys are interesting rather than mundane as some of the others can be. And you can cash out through PayPal rather than with vouchers like valued opinions.
    I've not had a lot of luck with VO's lately which is frustrating as I have £14.75 and can get a £15 Amazon when I get up to £15.50 lol.
    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
    • Mumoffourkids
    • By Mumoffourkids 15th Mar 18, 5:49 AM
    • 628 Posts
    • 3,141 Thanks
    Mumoffourkids
    I only do prolific for surveys now. The other sites just take too long or are incredibly boring. The only other thing I do is taking pictures of my receipts. I am now on three different apps and have already had £15 in Amazon vouchers from them but you can take the money out via PayPal as well. Got me it is easy and doesn’t take too much time. And as I go to the shops a lot, it builds up very quickly!

    Oh and well done on not going into your overdraft and having money left over to go into your emergency fund.
    Total debt Dec 2017 £23090.83
    Ma7 2018 £3691.78 84.01% paid
    Emergency fund £150/£600
    Total Savings £1328.05
    • Poppy1984
    • By Poppy1984 15th Mar 18, 8:54 AM
    • 178 Posts
    • 357 Thanks
    Poppy1984
    I only do prolific for surveys now. The other sites just take too long or are incredibly boring. The only other thing I do is taking pictures of my receipts. I am now on three different apps and have already had £15 in Amazon vouchers from them but you can take the money out via PayPal as well. Got me it is easy and doesn’t take too much time. And as I go to the shops a lot, it builds up very quickly!

    Oh and well done on not going into your overdraft and having money left over to go into your emergency fund.
    Originally posted by Mumoffourkids

    What are the apps called? I try to keep out of the shops lol but do get receipts for my weekly shopping etc not sure I'd generate enough for it to build up though.
    Thank you, I'm pleased with myself and feel a little happier now that I have a teeny EF in place
    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
    • Mumoffourkids
    • By Mumoffourkids 15th Mar 18, 9:05 AM
    • 628 Posts
    • 3,141 Thanks
    Mumoffourkids
    One is shoppix and if you sign up using my referral code which is 403QL9Y8 we both get extra points. Then another one I have just started using is receipt hog, but I don't think I have a referral code for that one. And the last one is Shopprize but that one I have to do on my tablet. The last one is good as you get a daily bonus just for logging in each day even if you don't snap any receipts. I like tham as I said because it is easy to do and doesn't take up much of my time. Shopprize is any receipts really and that one is the one that seems to build up quickest.
    Total debt Dec 2017 £23090.83
    Ma7 2018 £3691.78 84.01% paid
    Emergency fund £150/£600
    Total Savings £1328.05
    • redofromstart
    • By redofromstart 15th Mar 18, 9:21 AM
    • 1,765 Posts
    • 10,757 Thanks
    redofromstart
    Happy pay day, and hurrah for cash left over. Such a good feeling isn't it?
    • Poppy1984
    • By Poppy1984 15th Mar 18, 1:46 PM
    • 178 Posts
    • 357 Thanks
    Poppy1984
    One is shoppix and if you sign up using my referral code which is 403QL9Y8 we both get extra points. Then another one I have just started using is receipt hog, but I don't think I have a referral code for that one. And the last one is Shopprize but that one I have to do on my tablet. The last one is good as you get a daily bonus just for logging in each day even if you don't snap any receipts. I like tham as I said because it is easy to do and doesn't take up much of my time. Shopprize is any receipts really and that one is the one that seems to build up quickest.
    Originally posted by Mumoffourkids

    Thank you I have downloaded them, I will use your referral code.
    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
    • Poppy1984
    • By Poppy1984 15th Mar 18, 1:47 PM
    • 178 Posts
    • 357 Thanks
    Poppy1984
    Happy pay day, and hurrah for cash left over. Such a good feeling isn't it?
    Originally posted by redofromstart

    Thank you, yes its great, although I feel as though I am wishing the weeks away to next pay day so I can have left over again and pay it off my next account lol
    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
    • Poppy1984
    • By Poppy1984 15th Mar 18, 1:50 PM
    • 178 Posts
    • 357 Thanks
    Poppy1984
    One is shoppix and if you sign up using my referral code which is 403QL9Y8 we both get extra points. Then another one I have just started using is receipt hog, but I don't think I have a referral code for that one. And the last one is Shopprize but that one I have to do on my tablet. The last one is good as you get a daily bonus just for logging in each day even if you don't snap any receipts. I like tham as I said because it is easy to do and doesn't take up much of my time. Shopprize is any receipts really and that one is the one that seems to build up quickest.
    Originally posted by Mumoffourkids

    It said that referral code doesn't exist?
    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
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