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  • FIRST POST
    • SavingAFuture
    • By SavingAFuture 5th Jul 18, 11:56 AM
    • 114Posts
    • 228Thanks
    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
    CC1: £0/2120.60 CC2: £860/£3239.99
Page 2
    • SavingAFuture
    • By SavingAFuture 9th Aug 18, 10:37 AM
    • 114 Posts
    • 228 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
    CC1: £0/2120.60 CC2: £860/£3239.99
    • ftbwannabe
    • By ftbwannabe 9th Aug 18, 11:25 AM
    • 209 Posts
    • 702 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.
    saving for house-buying costs £1902
    emergency fund £250//1330
    debts £1295/£17,484 |
    • SavingAFuture
    • By SavingAFuture 9th Aug 18, 1:07 PM
    • 114 Posts
    • 228 Thanks
    SavingAFuture
    Thanks ftbwannabe! Thatís really helpful.
    Iím so excited to get my card now and get started
    Proudly on my debt free journey
    CC1: £0/2120.60 CC2: £860/£3239.99
    • moneycantbuyyouhappiness
    • By moneycantbuyyouhappiness 9th Aug 18, 1:49 PM
    • 170 Posts
    • 333 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
    • 114 Posts
    • 228 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
    CC1: £0/2120.60 CC2: £860/£3239.99
    • SavingAFuture
    • By SavingAFuture 11th Aug 18, 11:20 AM
    • 114 Posts
    • 228 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
    CC1: £0/2120.60 CC2: £860/£3239.99
    • LiveLifeFull
    • By LiveLifeFull 17th Aug 18, 11:19 AM
    • 108 Posts
    • 293 Thanks
    LiveLifeFull
    Loving your diary so far! If you don't mind me asking, how much are you planning to save for your wedding? I don't really know what the norm is these days. I want to have a really special day as I've been dreaming about a specific wedding since I was a little girl, but I don't want to be wasting money either.


    You're doing great so far! Imagine how good its going to feel when you get married and you've paid for it all yourself
    My CC - Feb 18 £849.69 July 18 £0.00
    My OD - Feb 18 £1250.00 July 18 £1250.00
    OH CC - Feb 18 £976.00 July 18 £1852.00
    OH OD - Feb 18 £500.00 July 18 £0.00
    TOTAL OD/CC DEBT: Feb 18 £3575.69 Mar 18 £3490.95Apr 18 £3257.78 July 18: £3102.00
    OD/CC DEBT FREE DATE: DECEMBER 2018
    • SavingAFuture
    • By SavingAFuture 17th Aug 18, 2:59 PM
    • 114 Posts
    • 228 Thanks
    SavingAFuture
    Thanks for stopping by LiveLifeFull. On my tough days I keep thinking how good it will feel to be debt free. It's such a motivator.

    The aim for the wedding is £10,000 total. I wish we could do it for less than this (and I know it is possible) but factoring in all the things we really want, this is how much it's going to be. Between me and my lovely OH this is an achievable figure whilst still clearing the debt (he doesn't have any. So smug!). As mentioned before, we are pulling favours so if we can bring it in for any less than that, even better
    Proudly on my debt free journey
    CC1: £0/2120.60 CC2: £860/£3239.99
    • SavingAFuture
    • By SavingAFuture 20th Aug 18, 4:59 PM
    • 114 Posts
    • 228 Thanks
    SavingAFuture
    Feeling weary...
    I so desperately want my debts to be gone. I know there's actually no rush as it's all on 0% until August next year and it will all be paid off long before that if I stick to my £200 per month, but I'm so tempted to pay more. However, I don't want to do that and risk leaving myself short thus leading me to have to spend on the card again, something I havenít done for over a year now. Especially with Christmas coming round fast!

    I think it's best to stick to the plan but it's been such a long time and debt busting really does become a slog after a while. It's a good plan and it's been working well but I'm getting tired readers.

    Right, little whinge over. I'm off to stare at my budget spreadsheet and pine for payday
    Proudly on my debt free journey
    CC1: £0/2120.60 CC2: £860/£3239.99
    • LiveLifeFull
    • By LiveLifeFull 23rd Aug 18, 1:21 PM
    • 108 Posts
    • 293 Thanks
    LiveLifeFull
    Keep going Saving!


    I think this is the hardest part of being on a debt journey. Its all fun and games at the beginning when your organising everything and its all so motivating, but the lull in the middle its the most boring!


    I often have to catch myself before I end up slipping!


    We can do this! Think of the future
    My CC - Feb 18 £849.69 July 18 £0.00
    My OD - Feb 18 £1250.00 July 18 £1250.00
    OH CC - Feb 18 £976.00 July 18 £1852.00
    OH OD - Feb 18 £500.00 July 18 £0.00
    TOTAL OD/CC DEBT: Feb 18 £3575.69 Mar 18 £3490.95Apr 18 £3257.78 July 18: £3102.00
    OD/CC DEBT FREE DATE: DECEMBER 2018
    • SavingAFuture
    • By SavingAFuture 27th Aug 18, 2:13 PM
    • 114 Posts
    • 228 Thanks
    SavingAFuture
    I've just been sitting quietly over here, trying not to spend any money and waiting for payday to come round. Overall it has been an OK month financially. I've been using my new account so I can't spend more than my allocated spending allowance.

    The biggest challenge for me has been trying to help my OH understand what I am trying to do. As mentioned before, I earn a little more than he does so he can't understand where all my money goes. Quite frankly, I wasn't sure until I really started tracking things at the start of this year.

    Ultimately, I knew I was earning more so I'd always be the first to buy a round of drinks, pick up the bill for dinner or pay for tickets to an event. For both of us. Let's face it, going for dinner alone isn't that fun so I'd always say "oh it's my treat" so we'd both go. It seems so obvious now - paying for everything times two was always going to take it's toll on my income, leaving him free to squander his on DVD's (but that's another story...)

    Recently I've been very aware of this and only suggesting cheap/free activities that we can both afford or saying "OK, we can eat out tonight but you'll have to pay for your half". I hate being that person as I want to be generous but until this debt is busted I need to do what's right for me. In the long run it will benefit him as he won't be marrying my debt (haha) but short term it feels uncomfortable.

    My next activity planned is for us to stay home one evening and cook a lovely meal from scratch, from one of my many-but-barely-used cookbooks that we can enjoy together without having to go out and spend. Hopefully he'll appreciate the idea!
    Proudly on my debt free journey
    CC1: £0/2120.60 CC2: £860/£3239.99
    • ftbwannabe
    • By ftbwannabe 30th Aug 18, 10:49 AM
    • 209 Posts
    • 702 Thanks
    ftbwannabe
    Sounds like a useful moment of realisation re spending double on going out with your partner. I've been that person (the one saying 'it's on me!' and the one saying 'erm, you need to buy your own') and I've also been the person saying yes to things I can't afford because i don't want my partner to feel like I'm restricting his options. Money is so emotional!
    I suspect you & I both imagine or worry about what our partner's thinking in these situations, when actually they don't mind. And/or they'll get used to it. We're going to spend the rest of our time with these people, so being able to be level-headed about spending with them is important. But also really flipping hard!!
    saving for house-buying costs £1902
    emergency fund £250//1330
    debts £1295/£17,484 |
    • s1n25
    • By s1n25 30th Aug 18, 11:28 AM
    • 113 Posts
    • 384 Thanks
    s1n25
    Keep up the good work!!
    I'm in a similar position started by debt free diary in Aug, wanting to get rid of my debt before starting to save for the big day!!
    Reading your diary has made me realise I'm not doing this alone and there are other people in the same situation! I was struggling with saying No to my partner if he suggested going out for food, or going for a 'few' drinks ended up with me being £70 down by the end of the night.


    I have a similar budget for our wedding, I'm hoping to book a venue at the end of this month. Currently it's stressing me out! thinking about spending £10-15k on one day!!


    Money, debts & wedding saving.. it's stressful!!


    Good Luck! I look forward to seeing your updates and progress
    Debt Free Diary..."Start of a new chapter"
    Nov: Unsecured Debt : £2,900.. Bring your lunch to work 1/18..NSD challenge 5/20

    • SavingAFuture
    • By SavingAFuture 30th Aug 18, 4:27 PM
    • 114 Posts
    • 228 Thanks
    SavingAFuture
    Sounds like a useful moment of realisation re spending double on going out with your partner. I've been that person (the one saying 'it's on me!' and the one saying 'erm, you need to buy your own') and I've also been the person saying yes to things I can't afford because i don't want my partner to feel like I'm restricting his options. Money is so emotional!
    I suspect you & I both imagine or worry about what our partner's thinking in these situations, when actually they don't mind. And/or they'll get used to it. We're going to spend the rest of our time with these people, so being able to be level-headed about spending with them is important. But also really flipping hard!!
    Originally posted by ftbwannabe
    That's exactly it. Money can be really emotional! I need to learn to detach and realise that my OH won't think I love him less if I can't buy him stuff anymore, or if I ask him to contribute!
    Thank you for making me see my feelings aren't crazy
    Proudly on my debt free journey
    CC1: £0/2120.60 CC2: £860/£3239.99
    • SavingAFuture
    • By SavingAFuture 30th Aug 18, 4:37 PM
    • 114 Posts
    • 228 Thanks
    SavingAFuture
    Keep up the good work!!

    I have a similar budget for our wedding, I'm hoping to book a venue at the end of this month. Currently it's stressing me out! thinking about spending £10-15k on one day!!


    Money, debts & wedding saving.. it's stressful!!


    Good Luck! I look forward to seeing your updates and progress
    Originally posted by s1n25
    You are definitely not alone!

    I have got much better at saying "no" but it's so hard, isnít it?
    Mostly because I probably DO want to go to the pub/out for dinner reallyÖ

    I totally agree re: spending that much on one day. We've gone back and forth about it, but ultimately decided that if we can afford to pay for it in full, we can have it.

    I am so glad I started this diary. It makes me feel like I'm getting ever closer to the magical debt free day, and it's lovely to have your support

    All the best,
    SaF x
    Proudly on my debt free journey
    CC1: £0/2120.60 CC2: £860/£3239.99
    • Working Mum
    • By Working Mum 30th Aug 18, 4:40 PM
    • 328 Posts
    • 1,127 Thanks
    Working Mum
    Money open sup all sorts of emotions I have found!!

    I read a really cool book called "5 Love Languages" by Gary Chapman - it is very Americanised but the core messages are really super simple to understand. Basically there are 5 LL:-

    * physical touch
    * words of affirmation
    * quality time
    * acts of service
    * gifts

    I am a "quality time" gal so presents etc don't impress me but if I was a "gifts" kind of person I would need physical things!

    Once you work out what your person is it is really easy to target love towards them in exactly the right kind of way.
    • SavingAFuture
    • By SavingAFuture 30th Aug 18, 5:12 PM
    • 114 Posts
    • 228 Thanks
    SavingAFuture

    I am a "quality time" gal so presents etc don't impress me but if I was a "gifts" kind of person I would need physical things!

    Once you work out what your person is it is really easy to target love towards them in exactly the right kind of way.
    Originally posted by Working Mum
    That sounds really interesting! I love a good book. I might have to see if I can track it down, at a good price of course

    I'm the same, "stuff" doesn't impress me but time and acts of kindness (like bringing me a cup of tea in the morning) mean all the world.
    Proudly on my debt free journey
    CC1: £0/2120.60 CC2: £860/£3239.99
    • pidge04
    • By pidge04 30th Aug 18, 11:44 PM
    • 535 Posts
    • 1,466 Thanks
    pidge04
    Just caught up with your diary. You are doing so well. Which month will be debt free in next year?
    CC1 £2400/£267 CC2 £3000/£2269 LOAN £13,000/£4871
    • SavingAFuture
    • By SavingAFuture 31st Aug 18, 9:21 AM
    • 114 Posts
    • 228 Thanks
    SavingAFuture
    Thanks pidge! It doesn't always feel like I'm achieving much day-to-day so I'm glad you can see improvement!

    My debt free date for the credit cards is (optimistically) April 2019. I then have a bit of an overdraft to pick off too (I haven't really posted about that yet - tackling one thing at a time seems to work for me) so I am aiming for August 2019. With a wedding in the middle

    One day at a time...
    Proudly on my debt free journey
    CC1: £0/2120.60 CC2: £860/£3239.99
    • SavingAFuture
    • By SavingAFuture 31st Aug 18, 9:32 AM
    • 114 Posts
    • 228 Thanks
    SavingAFuture
    Hurrah for pay day! It’s time for the monthly money shuffle.
    Since beginning my debt free plans, I've become a little bit obsessed with my finances. I don't think that's a bad thing though. I am so much more aware of what I owe, and where, and how much interest I'm being charged for different things. I never used to think about it much.

    So, for today, I've managed to scrimp a little extra and pay off £300 towards my CC debt. This has now paid off a dinner & wine tasting for my Mum's Birthday from July 2017 (another one where I was guilty of paying for EVERYONE and acting all generous - stupid!) and theatre tickets from seeing Chicago in New York, June 2017. Sadly, I was a bit disappointed with the show so I am very glad to have that one cleared. It was causing me pain every time I looked at it!

    I've popped my pocket money over to my M0nz0. I think September has potential to be an expensive month - there's a wedding, two birthdays, a family camping trip and a social night out. I will need to watch the budget very carefully. I think I've considered everything and put the money aside for all of these activities. I'm planning to make myself the designated driver for the month so I can save on travel and alcohol!
    Proudly on my debt free journey
    CC1: £0/2120.60 CC2: £860/£3239.99
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