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  • FIRST POST
    • B17c
    • By B17c 9th Jun 18, 7:19 AM
    • 290Posts
    • 1,541Thanks
    B17c
    Tips to save money to pay debt off quicker
    • #1
    • 9th Jun 18, 7:19 AM
    Tips to save money to pay debt off quicker 9th Jun 18 at 7:19 AM
    Hi all, I’m currently £11k in debt, enough is enough, I need to get rid once and for all.
    I’m not in dire straits, still managing to pay my rent, bills, minimum payments but it’s tight and there’s no real ‘spare money’ at the end of the month. I’m after tips and ideas on how to cut back/save money/make money to clear the debt quicker...

    Things I’ve thought of are:
    Eating through any stores in my cupboards
    Doing a carboot sale or selling on eBay as I do actually have quite a lot of stuff I could get rid of.. I really want to do a carboot sale but I don’t drive so need to find someone that would do one with me
    Buying ‘own brand’ or ‘basics’ food
    Cancelling my gym membership
    Walking to work instead of getting the bus

    Any other ideas would be much appreciated!

    I work nights so could pick up an extra shift as overtime but a 2nd job isn’t feasible
    I rent with 2 other flatmate’s so would have to speak to them regarding bills/utilities
    Credit Card Debt: £11,000
    Capital One: £2900
    Aqua: £2900
    Marbles: £2700
    Tesco: £2500
Page 4
    • B17c
    • By B17c 23rd Jun 18, 12:57 PM
    • 290 Posts
    • 1,541 Thanks
    B17c
    Hi Pip, thanks for your essay!

    My credit cards are nearly maxed, they were maxed but I took on an extra two jobs and worked 70hrs a week for a couple of months to get them down a bit! Unfortunately I burnt myself out and couldn't keep it up so I'm selling stuff, doing car boot sales and overtime at work as well as reviewing my budget again!
    The only area really that I can cut back in is groceries/food, I'd say that's where I overspend... I love cooking and love eating and we celebrate everything with food and drink! Had a cr*p day? Eat! Had an amazing day? Eat!

    I was buying food pretty much on a daily basis, not including a weekly online shop, lots of wine and takeaways too, I've cut my budget by more than half, no takeaways, switched to a cheaper supermarket, switched to the economy ranges, only shop online, once a month, on a cheap delivery day (£1)

    This area is definitely my weakness... I don't shop/buy new clothes, I don't go out drinking... my money goes on rent, bills, credit cards, bus fare, food and contact lenses. I cancelled Apple music. The only things left I could cancel would be Netflix and the gym but I don't have a tv so the only thing I watch is Netflix on my kindle (daily) and the gym is my one 'splurge' as it makes me feel better mentally and physically (plus my job is pretty manual so the extra strength is welcome!)

    I will see if I can find out my interest rates, yup, I do everything via an app or online! I know my Tesco intro offer runs out in August so I guess my monthly min payment amount will go up...

    I made £200 roughly on fb/eBay sales this week, £160 in cash so I've put that in a drawer to go on €, I've already got 110€ left over from last time... I want to take about 800€ if I can which will be more than enough, then I won't need to use my card.

    I'll hopefully be picking up chaperone work over the summer but I'm not factoring that in yet until I have a definite go ahead.

    I meal prep and batch cook as much as possible so I'm prepared (I work nights) and I've started keeping snack bars and crisps in my work bag so if I forget to take something from the fridge I won't starve!
    Xx
    Credit Card Debt: £11,000
    Capital One: £2900
    Aqua: £2900
    Marbles: £2700
    Tesco: £2500
    • B17c
    • By B17c 23rd Jun 18, 1:12 PM
    • 290 Posts
    • 1,541 Thanks
    B17c
    JackieO, true that, they'll never learn if they're handed things on a plate! Hopefully he'll be better with money as a result, I'm afraid I was spoilt rotten as a child by my grandparents, got everything I wanted so when I discovered credit cards I got into a whole world of trouble as if I wanted something, I bought it!

    Think I've been in debt for pretty much my entire adulthood. I decided I'd rather not be 40 and in debt up to my eyeballs and that I'd actually quite like to go travelling, or buy a house (not in London though )

    That potato gratin type dish sounds yummy! I might make that next week, but with spinach not cabbage (got spinach in the freezer) I've already put Julys food in my 'trolley' online, will get that when I'm paid on Monday/Tuesday then that's me until next payday. I've budgeted £50 for the month but I'm going to have a look now to see if I can trim that further!

    Any other meal tips/rationing tips JackieO?? I'm loving them!
    Xx
    Credit Card Debt: £11,000
    Capital One: £2900
    Aqua: £2900
    Marbles: £2700
    Tesco: £2500
    • NelliePie
    • By NelliePie 25th Jun 18, 10:08 AM
    • 190 Posts
    • 426 Thanks
    NelliePie
    Stupid question but How do you know when it's run out? It's not like you are going to count them all lol. Is it bio or non bio?
    Originally posted by Mummy2cheekymonkeys

    It comes with refills - each refil lasts 72 washes so we just have a pen and a post it note on top of the washing machine and we just tick each load off on a tally. It sounds like effort but its actually just become habit. I'm pretty sure it's non bio. You can find them on amazon (where we bought ours from) but if you go on the ego egg website it explains how it works.
    Little One's due date 18/12/18
    5/5/18 I became Mrs Pie
    FTB June '17 - £144k motrgage
    • monnagran
    • By monnagran 25th Jun 18, 10:47 AM
    • 3,872 Posts
    • 51,978 Thanks
    monnagran
    B17c. Hope you had a mean weekend.

    That isn't as unfriendly as it sounds, there is great satisfaction in getting through a weekend without spending a bit extra. This is when so many good intentions come to grief. Weekends, holidays, birthdays, paydays, anniversaries, good news, bad news, if there is an R in the month................. we can always find a reason for a little splurge, either to celebrate or to make ourselves feel better.
    To get through one of these occasions without untying our purse strings shows real determination.
    If your resolve is a bit weak (like mine) try to salt away a tiny. regular sum for a little treat now and again. I believe Jackie O, and she will correct me if I'm wrong, calls hers 'Happy Cash'.
    Mine is in a tin marked, 'Naughty, Sinful Moments.'

    A story.

    Two friends of mine went to a large Christian festival with a consignment of plastic bracelets to sell. If you remember, there was a fashion for these things with slogans printed on them. Theirs were printed with the Fruits of the Spirit. By the end of the first hour they had sold out of LOVE bracelets. JOY, PEACE, etc followed swiftly.
    By the end of the day they had sold all their stock except for one category.
    No one wanted SELF CONTROL.

    It seems we are not alone.
    I believe that friends are quiet angels
    Who lift us to our feet when our wings
    Have trouble remembering how to fly.
    • B17c
    • By B17c 25th Jun 18, 1:28 PM
    • 290 Posts
    • 1,541 Thanks
    B17c
    Hi Monnagran! I missed you over the weekend! Was yours good? I had a very mean few days off thank you! I don't think I spent anything wed/thurs/fri... not even on bog roll! PITB bought some!
    I worked Saturday and Sunday night, did an 11 hour shift last night. Sold an item on eBay for £50 so that will go to € fund, £200 now I have, plus 110€ I have already from last time. I've taken out anything left over from my basic budget and moved it to my savings account and will divide that into cc money.
    I've cancelled Apple Music and my gym membership, though I'll have one more payment to go out I think, then that's done.
    I'm about to do a £50 online grocery shop for the month with A*DA, switched from sainos as cheaper.
    I've text my friend about doing a carboot this Sunday coming!
    Xx
    Credit Card Debt: £11,000
    Capital One: £2900
    Aqua: £2900
    Marbles: £2700
    Tesco: £2500
    • Sweetcake
    • By Sweetcake 26th Jun 18, 3:23 PM
    • 108 Posts
    • 45 Thanks
    Sweetcake
    Hi Monnagran! I missed you over the weekend! Was yours good? I had a very mean few days off thank you! I don't think I spent anything wed/thurs/fri... not even on bog roll! PITB bought some!
    I worked Saturday and Sunday night, did an 11 hour shift last night. Sold an item on eBay for £50 so that will go to € fund, £200 now I have, plus 110€ I have already from last time. I've taken out anything left over from my basic budget and moved it to my savings account and will divide that into cc money.
    I've cancelled Apple Music and my gym membership, though I'll have one more payment to go out I think, then that's done.
    I'm about to do a £50 online grocery shop for the month with A*DA, switched from sainos as cheaper.
    I've text my friend about doing a carboot this Sunday coming!
    Xx
    Originally posted by B17c

    Heya, I like the idea about taking money from your basic budget and dividing into cc money. could you share more details about how you'll do this? thinking of taking this idea hehe.


    Also wouldn't that mean you have less in your basic budget, or would you be using the credit card money for that??
    • B17c
    • By B17c 26th Jun 18, 3:53 PM
    • 290 Posts
    • 1,541 Thanks
    B17c
    Hi sweetcake! So basically I see what all my essentials and direct debits are eg rent, bills, travel, food, min payment on credit cards etc and add that all up,, then I look to see what I was paid and any other side hustle money and take away what's left after the essentials and can either divide it by 4 (I have 4 credit cards) and do equal amount off each or just put the whole amount on one card to pay it off quicker!
    Eg budget £1000
    Pay £1400
    That's £400 left after budget money, and either £400 off one card or £100 off each!
    Xx
    Credit Card Debt: £11,000
    Capital One: £2900
    Aqua: £2900
    Marbles: £2700
    Tesco: £2500
    • Mummy2cheekymonkeys
    • By Mummy2cheekymonkeys 26th Jun 18, 4:06 PM
    • 111 Posts
    • 554 Thanks
    Mummy2cheekymonkeys
    Hi sweetcake! So basically I see what all my essentials and direct debits are eg rent, bills, travel, food, min payment on credit cards etc and add that all up,, then I look to see what I was paid and any other side hustle money and take away what's left after the essentials and can either divide it by 4 (I have 4 credit cards) and do equal amount off each or just put the whole amount on one card to pay it off quicker!
    Eg budget £1000
    Pay £1400
    That's £400 left after budget money, and either £400 off one card or £100 off each!
    Xx
    Originally posted by B17c
    Having been in a similar situation I can agree with the advice others have given about focusing on one card. I had 3 cards at one point and I used to overpay one one month then the next month a different one. I thought I was doing the right thing as in my head I thought surely overpaying was a good thing but it can get disheartening when they don't seem to be going down quickly. As soon as I focused on clearing them one at a time it made a huge difference. Plus once I cleared one I was then able to get a 0% balance transfer for the other 2 and that was the best thing ever. Good luck.
    • monnagran
    • By monnagran 26th Jun 18, 4:57 PM
    • 3,872 Posts
    • 51,978 Thanks
    monnagran
    B17c, Don't get sidetracked. Stay focussed. Each month, minimum payment on all 4 cards and anything extra on the first one you have decided to get knocked off. Remember that when you have finally got rid of the first card you will not only have anything extra to pay off the second one, you will also have the first cards minimum payment going spare.

    Imagine when you have got the first 3 cards smashed you will have all 4 minimum payments plus anything extra to demolish the last one in double quick time.

    It will be fine for a bit because you are excited and determined and in the mood.
    Have no doubt, this will wear off and you will get sick and tired of the struggle. It will seem to be taking for ever to make any impression and you will want to give up a thousand times.
    This is where this thread will come in useful. Even if, months, years down the line its just thee and me. I will be your nemesis, sitting on your shoulder and wagging a finger in your face should you stray from the straight and narrow.

    Think how wonderful it will be when there are NO minimum payments because all the cards are cut up and gone to credit heaven. Just think what it will be like not to have those debts nagging at your mind all the time. Whatever will you do when all the money you earn will be yours to spend however you like.

    You can do this.
    I believe that friends are quiet angels
    Who lift us to our feet when our wings
    Have trouble remembering how to fly.
    • B17c
    • By B17c 1st Jul 18, 12:32 AM
    • 290 Posts
    • 1,541 Thanks
    B17c
    Evening all... nothing new to report really, did a £50 food shop for the month at ASDA online and have batch cooked a curry and a corned beef hash, listed some items on eBay, things not really selling on marketplace, maybe my prices are too high?!
    Friend never got back to me about the carboot so I'll have to find someone else I think, and do it in a fortnight.
    A colleague gave me an idea earlier, I'm thinking of working 6pm til 6am for 3 days every other week, the way my shift patterns fall it's not feasible to do it every week, but I can do extra on different days. They need the staff so it shouldn't be a problem to do that.
    I'll see the lady who was going to ask around to see who needed a childminder/babysitter on Monday so I'll remind her I'm available...
    Credit Card Debt: £11,000
    Capital One: £2900
    Aqua: £2900
    Marbles: £2700
    Tesco: £2500
    • monnagran
    • By monnagran 1st Jul 18, 4:50 PM
    • 3,872 Posts
    • 51,978 Thanks
    monnagran
    You're doing well. Extra shifts is a good idea if you can manage it. A car boot is a good idea but it is a one off, and while it might make a bit of money for extra debt reduction, something regular like an extra shift or two is a better long term prospect.

    Did you have anything left from last months money to chip away a bit more of the chosen debt?

    I don't think anyone is in the mood for buying online at the moment. Between the world cup and and the heatwave people have other things on their minds.

    The autumn is quite a good time for selling, or so I've heard. I'm useless at it myself but my youngest son is brilliant. He went off to a car boot once with a pick up truck full of detritus. When he got back he had sold everything, including the trainers he was wearing.

    Anyway, keep fighting the good fight.
    I believe that friends are quiet angels
    Who lift us to our feet when our wings
    Have trouble remembering how to fly.
    • Tink_04
    • By Tink_04 1st Jul 18, 9:44 PM
    • 956 Posts
    • 4,946 Thanks
    Tink_04
    Really good thread! You have inspired me to get more focused! I'm chucking it all at one bill for now as need to get that down - all my debt is 0% but I need to get rid of it this year as we need the extra money each month as things are getting tighter! I'm looking at my food budget and what money I can squirrel away - I can make overpayments online so aiming to do that every chance I get and then do the same big payments each month - then once that is gone I can do the same with the next one but increasing the monthly payments.

    Keep posting it's great to see your progress!
    1p savings challenge 2018
    £2 savings challenge
    • B17c
    • By B17c 2nd Jul 18, 4:43 PM
    • 290 Posts
    • 1,541 Thanks
    B17c
    Hi monnagran! No there was nothing left over last month unfortunately, I have the £200 in cash still but that's my euro money for October.. I was told yesterday that there's probably going to be an overtime ban for 8 weeks! Summer is slow for us, they'll need more manpower for autumn/winter... I was given the option of being contracted another shift but that ties me in and I'll struggle with the side gig in August (which would earn me a LOT more money than an extra shift would) though it hasn't been confirmed yet! Arrrgggghhhh! Frustrating!
    That's amazing about your son and his carboot! He must have the gift of the gab! I'm not much of a people person in all honesty, I can come across a bit prickly sometimes... not with friends/family/colleagues but with the general public! I have done carboot sales before and to be honest I don't really enjoy them but it's a good way to make a lump sum...
    My friend messaged me last night (finally) and said she's planning on doing one this Sunday coming, I'll be working Saturday night and will get home at 6:30am so I'm not sure if it's feasible, though needs must and all that... maybe I should see if she wants to wait until September if people aren't interested right now...
    Thanks Tink! Glad you like it! Sometimes it feels like it's just me and monnagran on here! Some things I've been doing are:
    Overtime at work
    Selling stuff on eBay/marketplace
    Switched from weekly shopping at Ocado to monthly shopping at Asda, with a budget of £50 a month (it's just me) mainly storecupboard stuff and stuff I can freeze
    Batchcooking and mealprepping so I'm not picking up random things for lunch.
    Not spend anything on a daily basis
    Walk to work to save topping up my Oyster card. I've put £20 on it which will probably last a week!
    Ive started doing surveys but I'm not getting very far!

    Any other tips/side hustle ideas anyone has are gratefully received!
    Credit Card Debt: £11,000
    Capital One: £2900
    Aqua: £2900
    Marbles: £2700
    Tesco: £2500
    • JackieO
    • By JackieO 2nd Jul 18, 7:02 PM
    • 16,075 Posts
    • 136,691 Thanks
    JackieO
    The thing with car boots is they are OK if you really want to get shot of stuff and once you have made your 'pitch ' money back then every penny is profit No good going home with stuff even if it means you are getting less for it than you hoped Every time some one stops and looks ask them how much they are willing to offer I did some a good few years ago now and was quite happy to come home with most stuff sold off towards the end for 50p-£1.00 rather than have to pack it all up and bring it home after all even if you make a tenner on the last few odds and ends its a tenner off your cc.

    I try to see the best way to streetch food out, and if possible will make two meals from one with the addition of extra veg or a pudding. Easier if, like me, you are just feeding yourself as you can please yourself what you eat . Try to imagine how you would cope if suddenly the shops were shut and what you could make out of what you have You may be surprised at the results. Even the humble cheese on toast with beans on top will fill you up with a bit of fruit chopped up in some basic plain yogurt.

    Omelettes are brilliant filler uppers as well, grated cheese and a little bit of diced onion or a few dried herbs scattered on top will turn a couple of eggs into a meal with a bit of bread and butter on the side I myself don't eat bread but I do eat crackers (don't go stale either )and pile some cream cheese on top (basic can be bought for about 60p a tub) a bit of slice cucumber and sliced tomato on top soon becomes another cheap and quick filler upper.Eggs,cheese, (grated of course) baked beans etc will give you protien ,I use UHT milk as I only have it with cereal on in my tea and don't use a great deal of milk and find its cheap and dosn't go of so easily.Aldis do a semi skimmed UHT for 49p that lasts me a week.If I buy fresh milk it goes off before I have finished it
    Quot Libros,Quam Breve Tempus. 2018
    Half year totals = £166.19.This is for food only
    &/6/18 first food shop this month £13.48
    • B17c
    • By B17c 3rd Jul 18, 6:59 PM
    • 290 Posts
    • 1,541 Thanks
    B17c
    Cor JackieO I'm ravenous now! Thank you for the tips... I'd forgotton about cheese on toast! And I love an omelette!

    2 things sold on eBay, yay! Will list more tomorrow as I'm off to get ready for work now!
    Credit Card Debt: £11,000
    Capital One: £2900
    Aqua: £2900
    Marbles: £2700
    Tesco: £2500
    • Tink_04
    • By Tink_04 4th Jul 18, 11:18 PM
    • 956 Posts
    • 4,946 Thanks
    Tink_04
    I've done all my selling when we moved last year so don't have anything else to go now.

    Made £100 payment - £50 & £10.40 additional payments so far - hopefully should be label to do a £200 next week and take a chunk out!

    Really annoyed as elec company have taken £106 out this month rather than the £85 they were supposed to - will go back to normal next month but it's not a good time for the bills to increase!
    Find the gas bit so bad but since we moved the electric is huge! All actual readings too

    Anyway it's shopping day tomorrow but I'm hoping to leave it until Sunday as we have stuff in still and I'll just get stuff for baits and milk and fruit on Sunday for next week!

    It's so hot here! My garden is coming along nicely but still no veg or fruit yet - hopefully soon tho!

    Making the most of the garden and taking time to read as I had 3 books to read (read one) so two to go and when I'm gmdonw I pass them on!

    Keep going - your doing really well!

    Tink
    1p savings challenge 2018
    £2 savings challenge
    • monnagran
    • By monnagran 5th Jul 18, 8:06 PM
    • 3,872 Posts
    • 51,978 Thanks
    monnagran
    It's OK B17c, you've only just started. If you do find you have something left just pay that bit off at once, even if its only a couple of £s or so. Even tiny amounts add up over time. I know you are saving up for a trip in the autumn but hopefully your sales will cover that.

    I'm finding that I'm not eating much in this hot weather so am hopeful of a small grocery bill this month. I'm off to my brother's for a week in August to celebrate their Golden Wedding. They have stipulated "no presents," but he is my only sibling and will always be my baby brother, and I love both him and my sister-in-law so I'm hoping to get them a rose bush called Golden Wedding. It probably won't fit the colour scheme in their garden but I can't do much about that.
    I believe that friends are quiet angels
    Who lift us to our feet when our wings
    Have trouble remembering how to fly.
    • Cherryfudge
    • By Cherryfudge 6th Jul 18, 12:29 AM
    • 1,854 Posts
    • 10,068 Thanks
    Cherryfudge
    I'm off to my brother's for a week in August to celebrate their Golden Wedding. They have stipulated "no presents," but he is my only sibling and will always be my baby brother, and I love both him and my sister-in-law so I'm hoping to get them a rose bush called Golden Wedding. It probably won't fit the colour scheme in their garden but I can't do much about that.
    Originally posted by monnagran
    There's a pink one called 'Happy Anniversary' if that would suit the colour scheme any better?
    MFW #30 Paid off £2,109.13/£3770 as of 12/7/18
    • monnagran
    • By monnagran 6th Jul 18, 11:15 AM
    • 3,872 Posts
    • 51,978 Thanks
    monnagran
    Actually cherryfudge, I don't even know if they have a colour scheme. When I was there last they were in the middle of re-doing their garden. Their grandsons are now 17 and 15 so they can give up the football and cricket pitch!

    Thanks for the information though. I'll have a look at it.
    I believe that friends are quiet angels
    Who lift us to our feet when our wings
    Have trouble remembering how to fly.
    • B17c
    • By B17c 6th Jul 18, 11:51 AM
    • 290 Posts
    • 1,541 Thanks
    B17c
    Wow... had a nice tax rebate this morning...£740!!

    I suspected I might get one, I had 3 jobs at one point and was doing 70 hrs a week, when I dropped down to one job (my current one) my tax code was wrong for a good couple of months!

    I've set myself a challenge, make £1000 a month by doing extra work, overtime, eBay, carboot sales etc etc and this actually takes me up to a grand of extra money this month, though I know it's a cheeky effortless one... maybe I shouldn't include it in the challenge??
    I feel like I should be grafting blood sweat and tears for this extra £1000 a month although I did for the last year which is why I've got a rebate!!
    Anyway, I'm very thankful for it!

    300 will probably go to euros then that's done and dusted and the rest will go off Aqua as that's the one with the highest minimum payment.

    A friend from work is going home to the Philippines for 8 weeks and when I mentioned I was selling things on eBay/carboot she asked me to send her some photos of what I was getting rid of as she needs some things! So I've messaged her

    Monnagran a rose bush is a lovely thoughtful gift and if it doesn't match their colour scheme even better, as it will stand out to them and they'll think of you every time!

    JackieO you inspired my lovely tea last night, mushroom and pea omelette with Greek salad! It was yummy and I made enough for today and tomorrow too!

    Tink that's good you've made extra payments!! I'm looking forward to my debt going down just that little bit so I'll have more wriggle room in my budget for regular extra payments! Soon I'll run out of stuff to sell!!
    And a bloody pain about the gas bill, that would annoy me so much! If you've set a strict budget that extra money gone could've really fudged things up!!

    I had 4 things listed on eBay and all 4 sold and paid so I'm off to the post office now...
    Credit Card Debt: £11,000
    Capital One: £2900
    Aqua: £2900
    Marbles: £2700
    Tesco: £2500
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