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  • FIRST POST
    • Moneybear
    • By Moneybear 1st Jan 19, 9:09 PM
    • 28Posts
    • 57Thanks
    Moneybear
    Living to be debt free in 2019!
    • #1
    • 1st Jan 19, 9:09 PM
    Living to be debt free in 2019! 1st Jan 19 at 9:09 PM
    Firstly I'd like to wish everyone a Happy New Year!

    I have been a follower of various diaries and DFW board for a few months now but have only just signed up today.

    From a young age, my mum was out of work which meant I was single handedly running the household with rent, utilities, her debts, food etc. I would alway say yes and help her out when really I was relying on debt to help. Even when I explained I had no money, she would beg me and I couldn't say no. It wasn't until moving due to work when I realised I had wasted so much money and I gained my own independence. Money is still an incredibly sensitive subject for us. I am very angry at times for her actions impacting my teenage and 20s the way it has. This makes it a very sensitive subject for me so please be gentle!

    When I left home 3 years ago, I left with 21k of debt and I was regularly going over my 1500 overdraft. I was paying the minimum payments which was only just covering my interest and I felt like I was in a dead end.

    I now live in a house share and pay 450 per month which includes all bills. The rent here is only for a room but MUCH cheaper than what I was paying outside of London. I am also able to avoid the tube as I am on a bus route to work!

    Since leaving home I have been able to reduce my debt to 8k. But most importantly for me, my overdraft is gone and I have been able to switch all remaining debt onto 0% deals which comes to an end in December 2020. This gave me much needed breathing space so I have been able to save up my emergency fund and a bit extra to earn interest on.

    I also currently have 4k in savings. I am paying off 2,500 this month from a bond which matures in a few days. The rest of it is tied up in a bond which matures in July 2019. With this and my determination over the next few months, I should definitely be able to become DEBT FREE by the end of this year!

    Unfortunately I haven't been taught good money management from family so I have relied on this forum heavily and I am incredibly thankful for it.

    I would love for this diary to help me keep on track as well as welcoming any advice/support that can be given. Over the next few days I will be putting a SOA together and will update you all along my journey

    Thank you
Page 2
    • Moneybear
    • By Moneybear 11th Jan 19, 7:28 PM
    • 28 Posts
    • 57 Thanks
    Moneybear
    Good evening all,

    Chat with my manager was ok. Nothing too spectacular but reassurances that I am doing well. I have gone into the weekend caught up with my work so I guess I can leave happy.

    I ended up forgetting my lunch today so I went to subway for breakfast and got one for lunch later on in the day.

    I am going to spend the weekend relaxing, cleaning and meal planning for next week. I finish late Monday & Tuesday so preparation is going to be key!

    Money saving wise - I have returned a few bits I brought online over christmas which have finally arrived. I've had my refunds come through today so they should show back on my cards soon.
    • Moneybear
    • By Moneybear 13th Jan 19, 7:49 PM
    • 28 Posts
    • 57 Thanks
    Moneybear
    Hope everyone had a nice weekend.

    I've spent this weekend relaxing and spending time with family. I haven't done much in the way of money saving but I have only spent money on groceries. I went on another date yesterday too. We had a picnic in the park which was extremely cold but it was nice chatting and not having to worry about too much.

    I have my final bit of overtime tomorrow so from there onwards I shouldn't feel so tired.

    I have my lunch ready for tomorrow so I should be able to avoid eating out and popping into shops to pass time.
    • Moneybear
    • By Moneybear 24th Jan 19, 8:15 PM
    • 28 Posts
    • 57 Thanks
    Moneybear
    This month I have some salary left over so my debt is now down to 5210.

    No more savings maturing until June now and that is only 1k.

    So the push will really be on for me to pay as much as I can!
    • beanielou
    • By beanielou 24th Jan 19, 8:30 PM
    • 63,222 Posts
    • 278,027 Thanks
    beanielou
    Always good to see the debt going down
    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.***
    • Homegrown0
    • By Homegrown0 25th Jan 19, 6:46 AM
    • 877 Posts
    • 4,806 Thanks
    Homegrown0
    You're doing really well paying the debt down! It'll be gone in no time!

    I was sorry to read the story of how your debt built up in the first place- such a hard time having to support family when you're so young. You seem to have turned it around though and teaching yourself money management was a good decision.

    If things continue to be bad at work, I'd continue bringing it up with your manager. The more you raise it, the more they will be concerned with dealing with it (I.e. to get peace haha). Or is there a way you can say no when people are passing things off to you?
    Sealed Pot Challenge 075
    Pay off by Xmas 2019 #02 - target 10,000
    • Moneybear
    • By Moneybear 25th Jan 19, 8:03 PM
    • 28 Posts
    • 57 Thanks
    Moneybear
    You're doing really well paying the debt down! It'll be gone in no time!

    I was sorry to read the story of how your debt built up in the first place- such a hard time having to support family when you're so young. You seem to have turned it around though and teaching yourself money management was a good decision.

    If things continue to be bad at work, I'd continue bringing it up with your manager. The more you raise it, the more they will be concerned with dealing with it (I.e. to get peace haha). Or is there a way you can say no when people are passing things off to you?
    Originally posted by Homegrown0

    Thank you - I appreciate that. It is hard to reflect on it at times but I am trying to come to peace with it.

    Work has continued to be a real mixture of highs and lows. The passing things onto me has stopped after my manager realised what was going on. Workload is more evenly distributed but still feels like too much. But there is loads more drama with the 2 seniors on my team arguing with the manager. I am managing to stay out of it and keeping my head down. Hoping this helps me in the long run!!

    Had some good and bad today.

    Bad - my overtime request wasn't signed off by my manager so not going to get it until Feb pay.
    Good - 150 appeared in my bank account. I made a complaint to TSB after the second and more minor melt down in September. I did mention April impacted me but I carried on as I was happy with the 5% but the second smaller melt down pushed me over the edge. I was tipsy one night and sent my complaint in. So glad I did!
    • beanielou
    • By beanielou 25th Jan 19, 8:14 PM
    • 63,222 Posts
    • 278,027 Thanks
    beanielou
    Boo to the bad but good news on the 150 from TS Blooming B.
    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.***
    • beanielou
    • By beanielou 25th Jan 19, 8:24 PM
    • 63,222 Posts
    • 278,027 Thanks
    beanielou
    Not too long til you will be down into the next thousand

    How is Master Tom the cat?
    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.***
    • Moneybear
    • By Moneybear 25th Jan 19, 8:36 PM
    • 28 Posts
    • 57 Thanks
    Moneybear
    Not too long til you will be down into the next thousand

    How is Master Tom the cat?
    Originally posted by beanielou
    I know I can't believe the amount! I am going to use that to chip away some more so all worthwhile. Considering I have paid off over 3k this month, I think the next few months will feel so slow as there is no more money to cash in!

    So sweet of you to remember too. Tom is fine he isn't enjoying the cold weather at the moment though. It is his injection time soon so I have that planned and budgeted for next month. Hope things are well for you too
    • beanielou
    • By beanielou 25th Jan 19, 8:42 PM
    • 63,222 Posts
    • 278,027 Thanks
    beanielou
    I am plodding on thanks

    I have 3 cats. My best boy is 19 this year and also not a lover of the cold.
    He goes out to do what he needs to do & thats it.
    I got two rescue cats last year & one does not go out at all.
    My most loathed job is the litter.


    Debt wise you have done so so well so a big pat on the back
    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.***
    • Moneybear
    • By Moneybear 3rd Feb 19, 8:40 PM
    • 28 Posts
    • 57 Thanks
    Moneybear
    I am plodding on thanks

    I have 3 cats. My best boy is 19 this year and also not a lover of the cold.
    He goes out to do what he needs to do & thats it.
    I got two rescue cats last year & one does not go out at all.
    My most loathed job is the litter.


    Debt wise you have done so so well so a big pat on the back
    Originally posted by beanielou
    Oh lovely! I would love more cats when I am in my own place. Absolutely LOVE cats so I would happily have more.

    Thank you. It feels strange but updating others on where my debts are really helps to motivate me. Last few days I haven't updated my spend diary in my bag but I am about to do that now.

    Update wise my debts are now 4989

    I am very thankful for my TSB compensation I received last week helping me clear a bigger chunk off. 150 was way more than I ever expected.

    I found something to sell on Ebay this afternoon but don't have an envelope big enough which is putting me off.
    I sold some bits last week and offered free postage. I didn't realise the post office would charge 2.95 when the identical item was charged 1.25 a few weeks ago. So I ended up losing half of the money to postage.

    Work - Same old nonsense Manipulative team members are trying to drag me down with them. Last few days last week I kept to myself and keep focussing on getting through the working day. I am sure I can get through this.

    Also I have been sick to death of a taxi demonstration which means buses aren't picking up at the normal stop. I thought the strike was only for 1 week so I got the tube to and from work for that time. But turns out it was extended to last week too. They plan to strike daily until the council reverses it's decision. So my option is either pay 2.90 and get the tube. Or walk a mile down the road so they can pick up and pay 1.50 for a bus. I walked further down every day except our snow day.
    • beanielou
    • By beanielou 3rd Feb 19, 8:45 PM
    • 63,222 Posts
    • 278,027 Thanks
    beanielou
    Good news on the compensation & more debt clearing
    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.***
    • Moneybear
    • By Moneybear 18th Feb 19, 8:37 PM
    • 28 Posts
    • 57 Thanks
    Moneybear
    I have paid another 750 off my credit card so now sitting at 4175.
    Manager has confirmed I will receive overtime pay this month too. Phew
    • beanielou
    • By beanielou 18th Feb 19, 9:14 PM
    • 63,222 Posts
    • 278,027 Thanks
    beanielou
    I have paid another 750 off my credit card so now sitting at 4175.
    Manager has confirmed I will receive overtime pay this month too. Phew
    Originally posted by Moneybear
    Great
    Sooon be in the 3's
    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.***
    • Moneybear
    • By Moneybear 22nd Feb 19, 7:51 PM
    • 28 Posts
    • 57 Thanks
    Moneybear
    Not long until payday now and I definitely feel like I need it. Tom had an unexpected trip to the vets today as he hasn't been well. Thankfully not anything too serious and less than what the excess would be to claim it back.

    The guy I am seeing came with me to take him which was sweet. Things are getting a bit more serious now which is a mixture of exciting and scared.

    Plans for this weekend is to clean, cook and relax. Quiet weekend is definitely needed after this week at work.

    I have also discovered Dave Ramsey through youtube. I'm not 100% convinced on his 7 steps but I definitely agree with an emergency fund, pay off all debts and 3-6 months expenses saved up. Maybe not in the same order but it is something I am going to start looking into.
    • beanielou
    • By beanielou 22nd Feb 19, 8:17 PM
    • 63,222 Posts
    • 278,027 Thanks
    beanielou
    Glad that Tom is ok

    Exciting times ahead
    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.***
    • Moneybear
    • By Moneybear 24th Feb 19, 1:12 PM
    • 28 Posts
    • 57 Thanks
    Moneybear
    I have sat down to figure out that if I carry on how I am, I will be debt free in June/July. I am feeling a mixture of emotions.
    It feels like it is REALLY far away and I'm struggling to imagine cutting back and doing the bare minimum like I have the last few months. But I am not missing out on much other than take aways and shopping. Shopping that I really don't need and items I've never paid much attention to, but now want them.

    The sensible part of me knows this is insane! I literally don't need anything along those lines and I am fine. July is not that far away in reality and I can start building my emergency fund and savings at that point.
    • beanielou
    • By beanielou 24th Feb 19, 5:49 PM
    • 63,222 Posts
    • 278,027 Thanks
    beanielou
    5 months is just no time at all
    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.***
    • pidge04
    • By pidge04 24th Feb 19, 6:06 PM
    • 678 Posts
    • 2,442 Thanks
    pidge04
    Wow, you are doing so well. Can't believe you are just a few months away from being debt free.
    I think you've got a bright financial future ahead!
    O/D 1000/600
    CC 5400/2750
    LOAN 10000/3238
    • Moneybear
    • By Moneybear 16th May 19, 6:23 PM
    • 28 Posts
    • 57 Thanks
    Moneybear
    I can't believe the last time I posted was Feb!!!

    Sorry to have done a runner from my own diary

    I have some great news. I have 2100 remaining and I am set to be debt free by the end of June. There is no way I will achieve it this month sadly but it isn't that far away now.

    Work is the same old but I have a new manager now. He is much better than the previous one and has addressed all the issues I was having with my team at work. They witnessed what happened to be prior to being appointed a manager so they were fully aware. It has meant I am going to work a lot happier however I am still feeling unfulfilled. I have promised myself once I am debt free that I will build up my emergency fund and have a think about my future career later in the year.

    My little Tom cat is still being dramatic. He had an emergency visit to the vet earlier in the month but thankfully all was well. I wish they had a loyalty card!

    Things have also been going well with the guy I am seeing. I met his family last weekend and things have been getting better and better

    Hope you are all well
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