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  • FIRST POST
    • SavingAFuture
    • By SavingAFuture 5th Jul 18, 11:56 AM
    • 25Posts
    • 58Thanks
    SavingAFuture
    Fixing Today for a Brighter Tomorrow!
    • #1
    • 5th Jul 18, 11:56 AM
    Fixing Today for a Brighter Tomorrow! 5th Jul 18 at 11:56 AM
    I've been in debt for the entirety of my adult life, through student loans, overdraft and then credit cardsÖ There is no real reason for it other than living a lifestyle outside of my means and being overly generous with my friends and family. I love to treat other people to meals, days out etc. Particularly my partner who doesn't earn as much as me. I donít want to disappoint.

    It's not all bad though - in the midst of this we have managed to buy a flat where we live together with a reasonable monthly mortgage payment. Last summer we got engaged (woohoo) in New York (where I took my partner on holiday for his 30th birthday - a trip I could not afford).

    I came back home with grand wedding dreams and realised if I had even a chance of making this a reality, I would need to seriously knuckle down and sort out my finances.

    My total credit card debt was as follows:

    CC1 £2120.60
    CC2 £3329.99
    TOTAL - £5360.59

    In the past year I have made great inroads into this balance - mainly through careful budgeting, although I have had a small pay rise and used my annual bonus to clear CC1. That was an amazing feeling.

    The balance as of today:

    CC2 £2035 on a 0%

    My wedding is in June of 2019 so I have one year to clear this balance. It is totally achievable but the reason for starting this diary is that as I get closer to my goal, instead of feeling more motivated, I'm beginning to flag. I've completed one year of living frugally and saving every penny - it starts to get a bit wearing. I am tired of giving away MY money today for things that I did or ate or used 2 years ago. I have to constantly remind myself how depressing that is so I never get in this situation again.

    I went through my credit card statements line by line so I can see exactly what I'm still paying for.
    It's painful! But in 12 months time I can't wait to proudly announce I am DEBT FREE.

    Any advice you can give to keep me on this path would be massively appreciated.

    Best Wishes,
    SaF x
    Proudly on my debt free journey
    ~August NSD 4/12~
    CC1: £0/2120.60 CC2: £1800/£3239.99
Page 2
    • SavingAFuture
    • By SavingAFuture 9th Aug 18, 10:37 AM
    • 25 Posts
    • 58 Thanks
    SavingAFuture
    I've just signed up for a Monzo account. I think it will be really useful for me to have my spending money in a completely separate place to my bills so I can see exactly how much I have left to spend instead of estimating. Then I can allocate my pocket money weekly and keep tabs on my frivolous ways!

    Is anyone else doing this, and it is a success?
    Proudly on my debt free journey
    ~August NSD 4/12~
    CC1: £0/2120.60 CC2: £1800/£3239.99
    • ftbwannabe
    • By ftbwannabe 9th Aug 18, 11:25 AM
    • 62 Posts
    • 227 Thanks
    ftbwannabe
    I love Monzo! I look at it every day as though it's a fun app, not a banking app! Some of the features they're trying (like summary) aren't totally reliable, but the longer I use it (this is month 3 for me) the better it gets at both improving features & working with how I spend. The pots have been BRILLIANT for keeping bits of money aside, I have been able to go out at the end of the month (instead of hiding in my flat, broke) because I put money in a pot for an event & didn't touch it. I use a mix of the Budget & Pots to track & manage what I spent.
    Possibly got a bit nerdy there, sorry... basically, I think you'll like it & I found it really helpful. It makes my spending and saving really visible, & accountable.
    Debt Free Wannabe since 1st August 18
    CC1: £100.83/£8,839.83 | CC2: £79.47/£1079.23 | CC3: £182.92/£182.92 | CC4 £100/£2446.33 CC5 £0/£4280
    Student Loan 1: £83.28/£656.92 Student Loan 2: £25.51/808.60
    Total Repayments: £572.01/£17,472 | Outstanding Debt: £1689.99
    • SavingAFuture
    • By SavingAFuture 9th Aug 18, 1:07 PM
    • 25 Posts
    • 58 Thanks
    SavingAFuture
    Thanks ftbwannabe! Thatís really helpful.
    Iím so excited to get my card now and get started
    Proudly on my debt free journey
    ~August NSD 4/12~
    CC1: £0/2120.60 CC2: £1800/£3239.99
    • moneycantbuyyouhappiness
    • By moneycantbuyyouhappiness 9th Aug 18, 1:49 PM
    • 166 Posts
    • 330 Thanks
    moneycantbuyyouhappiness
    I second what ftwannabe says. Monzo awesome it really does help me budget. I love the pots too.

    I've just enabled the roundup function on my savings pot too! Which rounds up your purchases to the nearest pound and automatically puts the rest into a pot of your choice!
    Last edited by moneycantbuyyouhappiness; 09-08-2018 at 2:00 PM.
    • SavingAFuture
    • By SavingAFuture 11th Aug 18, 10:56 AM
    • 25 Posts
    • 58 Thanks
    SavingAFuture
    So my Monzo card has arrived! It's so bright and beautiful!
    I've transferred the money I'm allowed to spend between now and the end of the month. I am excited to not spend it haha. In fact, I need to not spend it. I'm trying to have 12 NSDs this month but have only managed 3 so far. Must try harder.
    I've started doing surveys online too so I can try to pick up a little bit more cash. Every little helps right?
    SaF x
    Proudly on my debt free journey
    ~August NSD 4/12~
    CC1: £0/2120.60 CC2: £1800/£3239.99
    • SavingAFuture
    • By SavingAFuture 11th Aug 18, 11:20 AM
    • 25 Posts
    • 58 Thanks
    SavingAFuture
    Update - I just paid an extra £35 off my CC because the odd balance was bugging me!
    £1800 looks much more nice and round than £1835
    Proudly on my debt free journey
    ~August NSD 4/12~
    CC1: £0/2120.60 CC2: £1800/£3239.99
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