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  • FIRST POST
    • SavingAFuture
    • By SavingAFuture 5th Jul 18, 11:56 AM
    • 100Posts
    • 201Thanks
    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 cards… 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 don’t 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: £1080/£3239.99
Page 3
    • SavingAFuture
    • By SavingAFuture 4th Sep 18, 8:43 AM
    • 100 Posts
    • 201 Thanks
    SavingAFuture
    I am nervous about doing this but I have decided to take money out of my wedding savings to pay my car insurance IN FULL for I think the first time ever. I will then pay this back to myself at £30 per month in place of the direct debit I used to pay to an insurance company. This way I won't be charged the extra for monthly payments and I will have paid back almost all of it before the wedding. As I said, this does make me nervous as I'll have to keep very focused to pay it back to myself and not just spend the difference, but I do feel that my self-control is so much better than it used to be and it's a good plan.
    It will save me around £70 over the course of the year so definitely worthwhile.

    This feels like progress.
    Proudly on my debt free journey
    CC1: £0/2120.60 CC2: £1080/£3239.99
    • ftbwannabe
    • By ftbwannabe 4th Sep 18, 10:55 AM
    • 204 Posts
    • 687 Thanks
    ftbwannabe
    Totally get the fear, but you're right: it is a sensible financial decision, & you do have enough willpower to pay it back.
    £70 is a great amount to have saved yourself, woot!
    saving for house-buying costs £1602
    emergency fund £200//1330
    debts £1608/£17,484 | Outstanding Debt: £15,874
    • s1n25
    • By s1n25 4th Sep 18, 11:05 AM
    • 113 Posts
    • 383 Thanks
    s1n25
    £70 extra for the wedding!!
    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 4th Sep 18, 1:34 PM
    • 100 Posts
    • 201 Thanks
    SavingAFuture
    Thanks guys! I really appreciate your support
    Proudly on my debt free journey
    CC1: £0/2120.60 CC2: £1080/£3239.99
    • SavingAFuture
    • By SavingAFuture 10th Sep 18, 4:03 PM
    • 100 Posts
    • 201 Thanks
    SavingAFuture
    This has been my first 10 days of following a proper monthly spending budget, over and above the essentials (groceries, petrol etc.)

    I sat down on pay day and wrote down all of the activities, birthdays and things to be bought in September with a clear budget against them. So for example: after work drinks £10, birthday gift £20, dance class £10 per week... I used to give myself an approximate figure like £50 a week for frivolous spends but this never quite worked as it didn't account for a month with expensive activities near the end. This way I've been able to see what's coming up and save some pennies back accordingly. I've then been motivated to try and come in under budget for each item. It's also shown me where I can do things such as drive or walk instead of trains and taxis, and have soft drinks instead of booze to keep under budget. It's become something of a game to keep it under control. So far, so good!

    It's also realistic and shows me how £50 a week is not always accurate, meaning I'd end up reaching for the credit card to cover a shortfall or over spending unnecessarily because the money was there.

    I'd budgeted £129 for the month so far and only actually spent £49. Proud.
    Proudly on my debt free journey
    CC1: £0/2120.60 CC2: £1080/£3239.99
    • pidge04
    • By pidge04 13th Sep 18, 6:30 AM
    • 497 Posts
    • 1,391 Thanks
    pidge04
    You inspire me!
    CC1 £2400/£422 CC2 £3000/£2269 CC3 £600/£0 LOAN £13,000/£5008
    • SavingAFuture
    • By SavingAFuture 14th Sep 18, 2:00 PM
    • 100 Posts
    • 201 Thanks
    SavingAFuture
    Had a little slip up today. Only minor but I'm annoyed about it.
    I was having a miserable morning at work (won't go into all the details) and my colleague said she was popping to the shops to buy some lunch and did I want to go with her. I said "yes" but only to stretch my legs and get away from my desk but in my irritation I ended up treating myself to a £3 pot of berries. As I say, it could have been worse but I didn't NEED those berries. Emotional shopping. Grr.
    Proudly on my debt free journey
    CC1: £0/2120.60 CC2: £1080/£3239.99
    • pidge04
    • By pidge04 14th Sep 18, 7:35 PM
    • 497 Posts
    • 1,391 Thanks
    pidge04
    Sorry you had a bad time at work.
    It could have been a worse emotional spend.
    Find something in your home worth £3 and sell it to make yourself feel better! That is the kind of thing I do!
    CC1 £2400/£422 CC2 £3000/£2269 CC3 £600/£0 LOAN £13,000/£5008
    • SavingAFuture
    • By SavingAFuture 17th Sep 18, 4:22 PM
    • 100 Posts
    • 201 Thanks
    SavingAFuture
    I've done it. I bit the bullet and paid my car insurance in full. I wish I'd done it last week as the price had gone up by £15 this week which is annoying. But it's still better than paying monthly. That's one less direct debit to worry about each month.

    My wedding saving account is looking a little bit dented now but I know that I will pay that money back to myself in good time if I maintain a little bit of discipline. I spoke to my bank as well and have transferred the savings into a different account that gives me a little more interest each month so that's pleasing to see.

    I can't believe how many sensible choices I've made this year. I used to think I was fundamentally bad with money but I've proved that it doesn't have to be the case.

    This weekend I went out Fri, Sat & Sun with friends and family but managed to keep within my budget. Even included a trip to London with my Dad. I explained to him that I was on a budget and we could go for a meal but it would have to be somewhere cheap…then he offered to pay! Cheeky but it works.
    Proudly on my debt free journey
    CC1: £0/2120.60 CC2: £1080/£3239.99
    • SavingAFuture
    • By SavingAFuture 17th Sep 18, 4:46 PM
    • 100 Posts
    • 201 Thanks
    SavingAFuture
    Also - ordered my bridesmaid dresses online. I ordered a selection of sizes to see what worked best for the girls and now I have one I have to return. Must not forget. That'll be £56 coming back in
    Proudly on my debt free journey
    CC1: £0/2120.60 CC2: £1080/£3239.99
    • SavingAFuture
    • By SavingAFuture 23rd Sep 18, 5:44 PM
    • 100 Posts
    • 201 Thanks
    SavingAFuture
    This weekend I was supposed to be away camping with my family but the weather report looked so awful, we decided not to go. I was sad to miss out on camping but a tiny bit of me was excited to be saving the money instead. I reckon it's saved me at least £50.

    Just one more week to go and we're at payday again. It's been a successful month overall. I have remembered to take lunch to work with me every day and I've generally stuck within my budget for the month. No unexpected spends and there's still a few pounds leftover in my spending account. I'm planning to use that to treat myself to a whiteboard so I can keep track of our meal plans.

    I feel like it's so easy to take your eye off the ball as the month goes on. I'm going to sit down and look at all my spends for October and come up with a new budget so I keep on track.
    Proudly on my debt free journey
    CC1: £0/2120.60 CC2: £1080/£3239.99
    • SavingAFuture
    • By SavingAFuture 28th Sep 18, 3:34 PM
    • 100 Posts
    • 201 Thanks
    SavingAFuture
    Updated my signature to show another £200 paid off. YESSSS!!
    I'm now under 50% of the amount I balance transferred which I am really proud of.

    Other successes this month include staying firmly within my general "pocket money" budget, taking lunch to work every day and paying my car insurance in full for the first time in at least 10 years. Not a credit card in sight!

    My new whiteboard has arrived. It's magnetic and attaches to the fridge. New favourite thing!
    I am excited to do my meal plan for the week and write it up there.

    I've set my pocket money for October at £200 and will keep posting about how I get on.

    Hope everyone has a lovely weekend!
    SaF x
    Proudly on my debt free journey
    CC1: £0/2120.60 CC2: £1080/£3239.99
    • ftbwannabe
    • By ftbwannabe 28th Sep 18, 10:23 PM
    • 204 Posts
    • 687 Thanks
    ftbwannabe
    What a fab month! Lovely to watch your updates. Home-lunches & ‘pocket money’ are working for me, too.
    Enjoy the weekend :-)
    saving for house-buying costs £1602
    emergency fund £200//1330
    debts £1608/£17,484 | Outstanding Debt: £15,874
    • pidge04
    • By pidge04 28th Sep 18, 11:47 PM
    • 497 Posts
    • 1,391 Thanks
    pidge04
    Absolutely brilliant stuff!
    CC1 £2400/£422 CC2 £3000/£2269 CC3 £600/£0 LOAN £13,000/£5008
    • SavingAFuture
    • By SavingAFuture 1st Oct 18, 11:52 AM
    • 100 Posts
    • 201 Thanks
    SavingAFuture
    Oh no guys! I went online to pay my car tax last night, expecting it to be £20 because I've changed from one Polo to another but it was £140!! Ouch.
    I'll have to be very careful this month as that's now £120 I have to find unexpectedly
    I am kicking myself for making an assumption and not checking.
    Ah well, we live and we learn. My biggest impact areas will be food and fun, so I guess I'll be staying home more and eating lots of beans on toast!
    Proudly on my debt free journey
    CC1: £0/2120.60 CC2: £1080/£3239.99
    • DebtFreeDreams
    • By DebtFreeDreams 1st Oct 18, 3:28 PM
    • 74 Posts
    • 74 Thanks
    DebtFreeDreams
    Hi SaF, just read your diary. You're doing such a good job.



    Reading your diary has taken me back 5 years when we were paying for our wedding. I worked my full time job and a 2nd part time (25 hours) job to pay for it. If only I was that disciplined now. It's hard at the time but you'll enjoy it more knowing it's all paid for.



    I think I'll be stealing your % chart idea!


    DFD
    3/9/18 Total Debt: £10,381.41
    7/9/21 Debt Free Goal
    • SavingAFuture
    • By SavingAFuture 1st Oct 18, 4:17 PM
    • 100 Posts
    • 201 Thanks
    SavingAFuture
    Thanks DFD! It's hard trying to do it all at once, but I am feeling very determined at the moment.
    Paying for it all ourselves means we don't have to answer to anyone and can have things just as we would like - I realise this makes me sounds like a massive control freak! haha. But I think it just saves a lot of arguments. We will be so proud.
    Proudly on my debt free journey
    CC1: £0/2120.60 CC2: £1080/£3239.99
    • ftbwannabe
    • By ftbwannabe 1st Oct 18, 4:59 PM
    • 204 Posts
    • 687 Thanks
    ftbwannabe
    Ouch! Luckily, beans on toast is tasty & autumnal (...does that help? hmm).
    Check out the cooking on a bootstrap site, I <3 Jack Monroe & they have lots of good budget recipes. The peach & chickpea curry is amazing (I add an extra tbsp of curry powder).
    saving for house-buying costs £1602
    emergency fund £200//1330
    debts £1608/£17,484 | Outstanding Debt: £15,874
    • Siebrie
    • By Siebrie 1st Oct 18, 5:02 PM
    • 1,243 Posts
    • 19,936 Thanks
    Siebrie
    I am nervous about doing this but I have decided to take money out of my wedding savings to pay my car insurance IN FULL for I think the first time ever. I will then pay this back to myself at £30 per month in place of the direct debit I used to pay to an insurance company. This way I won't be charged the extra for monthly payments and I will have paid back almost all of it before the wedding.
    Originally posted by SavingAFuture
    Will you also put GBP30/month in a saving account to save up for next year's car insurance payment? + GBP10/month for next year's road tax?
    Wombling to wealth 2018 € 801,77= £ 691.62
    Still a womble 2017 #25 € 7116,68= £ 6309.50
    Wombling Free 2016 #2 € 3.483,31= £ 2,969.05
    • DebtFreeDreams
    • By DebtFreeDreams 1st Oct 18, 5:18 PM
    • 74 Posts
    • 74 Thanks
    DebtFreeDreams
    You don't sound like a control freak, you sound like a bride I was exactly the same and was quick to shoot down any ridiculous requests/opinions.
    Enjoy every minute of it. It all goes so quick.
    3/9/18 Total Debt: £10,381.41
    7/9/21 Debt Free Goal
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