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  • FIRST POST
    • moneycantbuyyouhappiness
    • By moneycantbuyyouhappiness 2nd Aug 18, 10:35 AM
    • 170Posts
    • 333Thanks
    moneycantbuyyouhappiness
    From depression and debt to happiness and control
    • #1
    • 2nd Aug 18, 10:35 AM
    From depression and debt to happiness and control 2nd Aug 18 at 10:35 AM
    I've started a shiny new diary. The old one started off very negative really and I also ended up with a couple of large bills to pay that I ended up putting some on the CC and using the rest of my expendable income for the month.

    Goal
    Be debt free by Christmas 2020!

    This is very ambitious but would put me in really good stead for trying for a baby in 2021

    Steps I've taken so far

    I decided to do a money transfer to my bank account to pay off my overdraft. I could then downgrade my account to a standard reward one which pays me 2 a month rather than costing me 15. It cost me a 10 fee but it seemed worth it as in a month I'll have made that and more back.

    I've done a BT to a new card which gave me a really long 0% period (35 months) with a 0.5% fee so my current debt situation is as follows;

    CC1 - 7,043.33
    CC2 - 2,025.75
    Loan - 5,489.20
    Total 14,558.28


    Plan is to pay minimums on CC1 and focus on CC2 to get rid of that as soon as possible.

    Minimum payment for CC1 is 2.25% apposed to the 1% it was previously which I'm pleases about as it will mean I'm actually making a bit of a dent in the balance.

    I've budgeted 30 for week to go into my Monzo account to use for everyday spends and I'm putting a little aside for savings.

    I'll be setting myself challenges of not spending on food/clothes/toiletries which will hopefully help me throw more at the debt.

    I don't have a huge amount of disposable income as half of my salary gets paid into our joint account. Our joint finances are fine, we have healthy savings but we could do even better so I'm going to try in that respect too.

    Lets slay this debt!
Page 1
    • moneycantbuyyouhappiness
    • By moneycantbuyyouhappiness 3rd Aug 18, 9:00 AM
    • 170 Posts
    • 333 Thanks
    moneycantbuyyouhappiness
    • #2
    • 3rd Aug 18, 9:00 AM
    • #2
    • 3rd Aug 18, 9:00 AM
    So yesterday was a no spend day!

    Monzo top up has gone in but I'll need to take out 10 for a deposit for our works xmas do.

    I sold one of my larger items on eBay after the extortionate fees and postage I was left with 111.75 to pay off the card. I've paid this off already as I don't trust myself to leave it in my PayPal account.

    I've brought my lunch to work today and plan on yet another NSD!
    • moneycantbuyyouhappiness
    • By moneycantbuyyouhappiness 3rd Aug 18, 9:06 AM
    • 170 Posts
    • 333 Thanks
    moneycantbuyyouhappiness
    • #3
    • 3rd Aug 18, 9:06 AM
    • #3
    • 3rd Aug 18, 9:06 AM
    Thought I'd update my totals

    My BT fee interest has been refunded and with the paypal payment and my latest loan payment things are already starting to look a little better.

    CC1 - 6,994.44
    CC2 - 1,923.05
    Loan - 5,269.62
    Total 14,187.11

    I'm sure I'll be able to get that figure to under 14k before the end of the month!
    • pidge04
    • By pidge04 3rd Aug 18, 9:12 AM
    • 535 Posts
    • 1,470 Thanks
    pidge04
    • #4
    • 3rd Aug 18, 9:12 AM
    • #4
    • 3rd Aug 18, 9:12 AM
    That will be an important milestone! Good luck with everything!
    CC1 2400/267 CC2 3000/2269 LOAN 13,000/4871
    • Debtnomoreplease
    • By Debtnomoreplease 3rd Aug 18, 12:26 PM
    • 168 Posts
    • 393 Thanks
    Debtnomoreplease
    • #5
    • 3rd Aug 18, 12:26 PM
    • #5
    • 3rd Aug 18, 12:26 PM
    Wishing you luck on your journey.

    What an amazing achievement it will be if you can get that figure under 14,000 by the end of the month-fingers crossed for you! That feeling of achievement will stand you in good sted for the rest of your debt free mission.

    Good luck-you can do it!
    • Scott-Weiland
    • By Scott-Weiland 3rd Aug 18, 12:32 PM
    • 315 Posts
    • 704 Thanks
    Scott-Weiland
    • #6
    • 3rd Aug 18, 12:32 PM
    • #6
    • 3rd Aug 18, 12:32 PM
    Good luck on your journey, my first port of call would be do an SOA

    Next thing get signed up with topcashback.

    Next thing have a read of this

    https://www.moneysavingexpert.com/family/make-money/
    Cashback Earnings Ish YTD 74.66 Survey Earnings YTD Ish 550.84
    Qmee 55.14 Since 3/11/2018
    • beanielou
    • By beanielou 3rd Aug 18, 8:07 PM
    • 58,871 Posts
    • 244,311 Thanks
    beanielou
    • #7
    • 3rd Aug 18, 8:07 PM
    • #7
    • 3rd Aug 18, 8:07 PM
    You can do it
    Great start!
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 12 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
    • lonelyrat
    • By lonelyrat 4th Aug 18, 8:05 PM
    • 520 Posts
    • 1,390 Thanks
    lonelyrat
    • #8
    • 4th Aug 18, 8:05 PM
    • #8
    • 4th Aug 18, 8:05 PM
    Well done so far! Sounds like you have a solid plan in place awesome reduction already! Don't get disheartened if it slows down a bit (you'll run out of things to sell - I know I did!)
    Total Debt : 1600.00 / 7266.93
    Weight Loss: 20 kg / 45kg
    • moneycantbuyyouhappiness
    • By moneycantbuyyouhappiness 6th Aug 18, 8:43 AM
    • 170 Posts
    • 333 Thanks
    moneycantbuyyouhappiness
    • #9
    • 6th Aug 18, 8:43 AM
    • #9
    • 6th Aug 18, 8:43 AM
    Well I had a no spend weekend on a personal level. We had our usual Saturday night takeaway and a bottle of wine that came out of the joint account.

    Paid for my monthly train pass this morning out of my Monzo travel pot! I love Monzo

    Had a small work expenses claim paid back and had a bit of cash to pay back in Quidco. That's 13 going into back into the account.

    Realised my car's MOT is due early September and there is definitely a couple of things I think it will fail on.

    Going to hold off paying any further cash off the CC for the moment. I want to have a buffer so I don't have to put car repairs on the CC.

    Fingers crossed it will pass and I can just pay that off but I'm preparing for the worst!
    • moneycantbuyyouhappiness
    • By moneycantbuyyouhappiness 8th Aug 18, 9:51 AM
    • 170 Posts
    • 333 Thanks
    moneycantbuyyouhappiness
    Had such a busy couple of days.

    I ended up eating lunch out yesterday and will need to again today

    I really need to get organised and prep up a couple of lunches for the next two days. This isn't doing the budget or my waistline any good!

    We have resisted takeaways for the last two nights, even though we have both come home from work shattered!

    Just messaged OH and reminded him to get some meat out of the freezer for tea tonight and tomorrow night. I'll tell him to get some chicken out that can have for our lunches.
    • moneycantbuyyouhappiness
    • By moneycantbuyyouhappiness 9th Aug 18, 12:57 PM
    • 170 Posts
    • 333 Thanks
    moneycantbuyyouhappiness
    I'm so fed up today.

    Work is getting super busy

    I think realistically the car is going to need 150-200 of work to get through the MOT.

    Was due to have my hair cut and coloured next weekend but I've had to postpone until after payday because I just don't have the money at the moment. I would have just put it on CC and not batted an eyelid before and whilst I'm happy that I don't want to do that anymore but by the same token I fell frumpy and fat and could really do with the confidence boost.

    OH is being about as useful as a chocolate fire guard with the wedding planning and is leaving the majority of the stuff to me!

    After my lunches out, my Christmas do deposit and paying for my Avon I have grand total of 2.87 left in my Monzo pot. I'll pop that over to my savings so I'm not tempted to roll it into next weeks allowance.
    • moneycantbuyyouhappiness
    • By moneycantbuyyouhappiness 20th Aug 18, 8:57 AM
    • 170 Posts
    • 333 Thanks
    moneycantbuyyouhappiness
    It's been a while since my last catch up.

    The car needs much more work than I thought. OH has tried to replace my brake discs and pads at the weekend and has discovered the axle at the back is rotted through! I need a bit of electrical work too! Oh the joys!

    I had a real meltdown yesterday when a quick google said the job could cost 700-800. I just don't have that kind of cash. What a stupid situation I have got myself into. OH assures me it can be done much cheaper and is trying to source a decent second hand part. We will see.

    My first statement is due today for CC1. I'm hoping the minimum payment will come out after payday and it will give me a little stash of 150 or so to help pay towards car costs.

    Just trying to keep focused and remind myself that every penny I don't put on CC is a penny I don't have to pay back!
    • moneycantbuyyouhappiness
    • By moneycantbuyyouhappiness 21st Aug 18, 8:49 AM
    • 170 Posts
    • 333 Thanks
    moneycantbuyyouhappiness
    So the statement has come through for CC1.

    The DD will come out on 14th September so that gives me a little more breathing space with the car repairs. My OH has found a decent second hand part for 150 which I've paid on CC2 but I plan to pay this off if I don't have to spend anything else. OH is hoping to do the work for me but it isn't an easy job so I may end up having to take it to a garage.
    • moneycantbuyyouhappiness
    • By moneycantbuyyouhappiness 23rd Aug 18, 8:43 AM
    • 170 Posts
    • 333 Thanks
    moneycantbuyyouhappiness
    What do they say about giving with one hand and taking away with the other?

    I was told I would receive a 4% payrise yesterday. It isn't much but every little helps. Then got home to find the fridge freezer has given up the ghost

    We've also dropped a bit of a clanger and I need to find 355 to pay the registrar for the wedding. I don't want to take this out of our wedding savings as we will lose our promotional interest rate. So I'll need to work hard to find room in the budget.
    • moneycantbuyyouhappiness
    • By moneycantbuyyouhappiness 29th Aug 18, 8:49 AM
    • 170 Posts
    • 333 Thanks
    moneycantbuyyouhappiness
    Feeling pretty worthless today.

    Lots of talk with piers and colleagues about money in the past couple of days and I'm so embarrassed about the situation I'm in.

    The car is turning into a money pit. Just feeling very low and can't see the light at the end of the tunnel. I managed to scrape every spare penny together to pay for the new part to be fitted but it still isn't right and it hasn't even had the MOT yet!
    • efes shareholder
    • By efes shareholder 29th Aug 18, 9:16 AM
    • 397 Posts
    • 1,049 Thanks
    efes shareholder
    I feel your pain - I hope you manage to get the car sorted relatively cost effectively , I love my car but I hate putting my hand in my pocket for repairs and they never seem to be "cheap"

    These things do have a habit of all coming along at once , its soul destroying when this happens

    With regards to the fridge freezer , have you looked at fb selling pages or gumtree , hopefully you could pick up a decent 2nd hand one ?

    don't be embarrassed about finances , I often look at people and wonder how they afford the lifestyle they have , some may be better earners or have been fortunate with inheritance and some may be borrowed up to the eyeballs !!!

    I was watching a show the other day which stated the average amount owed per person in the country was over 11k each , that gives you a perspective
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