Debt support thread #2

[Nerfmother]

Here we are! Can't be bothered to think of an exciting title, sorry

I had a really bad day yesterday spending wise. I went to get my hair done (start new job next week) which was fine as I won money at the bingo and more than covered my hair cut. I also met a friend as it was her birthday. Got to the town my friend lives in (a long drive) and realised I'd forgotten her present so had to go buy something - was not worth travel costs to go back home. The annoying thing is that I'd bought loads of stuff in the January sales so ended up spending loads more to get something that was equal in value to what she had got me (the original gift I had bought for her was 90% off).

I then bought some bargain easter eggs for family members and put them in the boot, went to get them out last night and all of them have completely melted everywhere so rather than a bargain I'll end up having spent more than I orginally would have. Aaarrrggghhh!

Yesterday was one of those days where all my efforts kind of just got thrown back at me!

I've downloaded YNAB and been playing with it this morning. Quite impressed with it so far, although I have reduced the number of categories massively. All bills come out of DP's account and I just give him a lump sum each month which makes it easier. I also can't cope with too many 'pots' for saving - I'd rather just have the one savings pot and pay for whatever needs to be paid out of it.

I like how you can track what you have spent in each category. I also love the app - it is so easy to use, it seems really well set up for use on the go. I will just need to get in the habit of entering everything as I spend it - it seems really quick and easy though.

I don't intend to start using it properly until I get paid (not that I know what I'm getting paid next month or when due to job change half way through a pay month!) as there is too much to add in and tracing all this months transactions will be a nightmare.

I like also that I can track what I'm spending grocery wise and in petrol. There isn't much I can do about petrol - I only make essential car journeys but it will be good to see how much is left in the grocery pot. I have recently switched from Sainsburys to Asda - I'm saving loads!

I've been 'creative' with my debt as DP sometimes uses laptop, and we will use each others' phones - not in a snoopy way but I don't want to be in a situation where I'm always worrying about him picking something up. As my debt repayments are a fixed amount each month, I've taken the amount off my income rather than add it is as a payment category.

Morning all...been offline for a bit what with one thing and another! Just marking place now and will be back with proper month end update shortly...have to spend a good bit of time on it now that Im on my own

Hi all,
I've been away in the sun spending too much, but I'd earned it before I went so I'm relaxed.

I am really pleased to see so many of you getting your heads around living within your means while paying down debt
because if you can live within what you have after repayments .....

Happy EAster
Sainsburys have rather overstocked on easter eggs apparently - there may be some bargains if you can get kids to wait till Monday

Thanks TiP - my mum went to Sainsburys this morning and got me some to give to people. I tried Asda last night and there was nothing! The melted Thornton's ones (bought for only £1.50 each) are only fit for consumption as a non-gift hehe.

Thanks tip, know where I'm heading then

Anyone looked into a DRO?

im seriously considering it when my employment contract ends in july and I have to sign on jsa again. I'll be 24 weeks pregnant at that point and it was hard enough finding work prior to being pregnant.

I currently have just under 11k in debt and paying £ 40 per month.

I really don't know what to do for the best

Morning all...hope everyone is well
Did my sums last night and made cuts wherever I think I can...some things tied in so have taken calendar note to review a month before term is up to start shopping around.

I've put £500 across to pay towards OD so now have 1000.22 of the 2500 that I need. Every other penny is accounted for but have 500 emergency fund too so not worried. Only place left to make some savings is the food budget for DS and I...already quite trim but will see what I can do. Have a full freezer so not likely to go hungry anytime soon! Proper meal plan tonight once DS in bed ...

Oh, and get stuck into a bit of selling too...

We've had a good few days money wise as staying with DH family in Kent and we've been eating in, going for walks etc so not spent any money except £40 on wine, meat etc to contribute to groceries. Not bad for a 4 day getaway in gorgeous countryside! We need some veg for dinner tomorrow and something for tonight but shouldn't be too spendy.
Was seriously planning a dishwasher purchase but a cooling off period has made me think twice and I'd rather see the money come off debt.
If we hit the debt as hard as we can this month there's a good chance we can close CC2 and also clear DH student overdraft and close that account too. That would reduce our debts to 2 CCs and the car which would be so great.
Only 6 days until payday for me, a bit longer for DH.

winterlover
have a read through this
<a class="break-all" href="http://webarchive.nationalarchives.gov.uk/+/www.insolvency.gov.uk/pdfs/guidanceleafletspdf/droguide.pdf" rel="nofollow" target="_blank">webarchive.nationalarchives.gov.uk/+/www.insolvency.gov.uk/pdfs/guidanceleafletspdf/droguide.pdf
Personally I dislike that sort of formality ..... it is on your file forever

£11k is fully doable - you'll get there

Hope everyone has had a good weekend.

I have set up my YNAB and downloaded the app to my phone - I'm really impressed with it, especially the app.

I also found my student loan annual statement from last year and have calculated that I have approximately 28 payments left to make (assuming earnings and interest rates stay the same). My big loan has 23 months left to run, while my smaller one has lots more - but I'll redirect the money from my big loan after 23 months.

In 28 months, I aim to have cleared 33K worth of debt. I feel strangely positive about this :)

Hello all! Good to read your updates, and we are all still feeling positive .
Dh set up a bank account after much nagging and we are going to set up a dd to the existing one to clear the overdraft slowly (50 PCM to clear 4800). My reckoning is that they won't close and demand money in one go if they can see that it is slowly reducing.
Plus dh doesn't risk them taking all of his wages at once to pay it off.

So have done my sums and paying the planned £500 to OD would leave me 150 short this month (assuming nothing is forthcoming from ex) however, not to be outdone I have put the 500 into savings account and will cut back as much as I can on living expenses until next payday. I could potentially still repay in full by end June however that is dependent on me cashing in some shares I am due...will weigh up pros/cons of this once shares cert arrives...if not, will need to extend my goal by 2 months to end August.

Reality is looming as we are back to work tomorrow. Pleased I seem to have managed a couple of stretches away at relatively little expense, although definitely want to return to in-laws in July for a week, so will be footing another hotel bill.

However, it has been a nice break and I'm hoping to have some money left at the end of the week to make a CC overpayment.

Well done Kinky, reality bites for me tomorrow too...not only back to work after 2 weeks off (1 wk hol, 1 wk sick) but DS is having first sleepover at xp place tonight, dreading being on my own

Anyho, meal plan done for this week and can definitely claw some money back from the shopping budget which will be grand! NSD today, leftover roast on sandwich for lunch and remnants will be stir fried with peppers tonight and will make fajita wraps. Super organised and have done breakfast and lunch for work tomorrow...

Oh good luck with that Mum 2 Fergus.
Back to work here as well.
Glad you have some cash left over for cc Kinky

3 days til I get paid... totally counting the days over here. I have overspent this month and only have a small surplus to pay down debt (but I did clear a card on March payday, so it's not all doom and gloom).

It was just a lot of little things, travel money for Turkey, eating out with friends over the holidays... nothing major.

I feel very cross with myself, and absolutely determined to stop this slow trickle of money this month.

3 days for me as well. It can't come fast enough. This month has been a disaster for me financially.

NSD planned today, and hopefully 2 wee items sold on Facebay so £7 coming my way

Gosh, still 8 days for me

Still, NSD Sunday and Monday, and just a pint of milk and box of cereal today. Dog groom tomorrow but cash is here waiting and no other spends planned. Thurs/Fri/Sat will be spendy though

Same here - payday on 30th. Never mind, am so tired anyway!

Should manage a NSD today - not really logged them before but going to try and keep a track this month (my financial month starts on the 21st of the month).hoping to spend as little as possible this month as didn't work any extra shifts so will get paid basic amount come payday.
Also got car service,mot and a hotel stay to pay for next month.I usually shop at sainsburys or tescos but tried asda the other day (haven't shopped their in years) and my shopping was noticeably cheaper so going to try and stick to asda now.

There!