Inspired by SRD's My life in debt thread, I've got multiple credit cards and the debt built up because I didn't want to pay in instalments for regular renewable costs (TV Licence - now paid - and insurance). Once I shake it off I can basically get my life back and begin saving properly (though the urge to run out and buy that brand spanking new DVD Recorder springs to mind all the time).
Unlike last year, now it doesn't feel like I will miss half the things I thought I couldn't do without in 2006, especially not magazines - I subscribe to two of them and have others that I buy once or twice a year, but this is the year where I've really tried to read it online instead, and if I want something to take with me when travelling, to make it a book.
I've already changed insurers for my mortgage protection, and mobile phone provider to a cashback contract and am changing credit cards with a view to getting rid of old ones, especially now I realise it's just a rut to keep putting, for example, the travelcard on a credit card each month. Once this final balance is paid off, I can move to cards with long interest-free periods on *purchases* and just enjoy not getting stung if I make the minimum payment.
Good for you NL. It's going to be a hard slog, but imagine how great it will be when you are not forking out money for nothing.
As for mags, if you really want them then you can always buy the last months copy on ebay,or get them form the library, if you get in quick you will be the first to read it too.
I sorted myself out last year and it's nice to have a little to spare each month. Get in the right mind set though and you can save thousands a year. This morning for example I thought, great sun, no money wasted on the tumble dryer lol!
Thanks beads, it's well worth saying it twice because when I did the maths, if I paid everything off and didn't take any interest hits I would have £25 per week left and whatever spare change was in my account before pay day today. Better withdraw the spare and put it in my ISA, sharpish.
Well, I checked my balance and My God, my calculations were right - £25 per week if don't want to take any interest hits. At this rate, I might allow myself the one hit of £2 for the sake of having breathing space.
However, I just posted off my first Mobile Phone bill cashback form, which will return me £50. Made sure it went by special delivery, so I'm not worried about spending money to protect more, I don't trust the postal service.
When the contract ends I'll be looking for Three's £15 per month for life plan again, I was gutted when that was introduced the month after this one. Still, I went over half my talk and text allowance so the £25 per month suits me fine, I barely use my landline anymore and talk to mates more than I email now.
On another big catchup day so lunch is 100% fruit - healthy, but hopefully not routine, while the tenner I withdrew will be used tomorrow - literally trying to nail down my cashpoint withdrawls to necessities.
Back on ebay this weekend for definite, time to get shifting stuff to help dent the electric bill that's due.
Blimey nethlyn, sounds like you are really on the edge with your money. Have you spoken to adviser at bank or to Citizens Advice bureau about how to rearrange money and expenses and loan repayments to make it more efficient?
I did that last year and because Barclays basically misrepresented their Extras account or whatever they call it, I have the minimal tenner's overdraft but staying in credit isn't the problem, and this cashback is actually arriving a lot earlier than I normally expect supplementary cash to arrive if I sell things once per week on Ebay.
Basically, four weeks of discipline will mean just a bit more breathing space next month. I have work that's taking me 9-10hrs a day, food that I have to get on and cook which will get me to the end of the week, and it's only once you hit debts that you realise everything you've piled up, will do, and there's no need to keep going out and buying more stuff - the last book I bought, I'm re-reading it, for example. I have that cinema pass and will make the quota on it this month and this time push through into the "free zone", but if it's ever too tempting to buy food, that's when I'll just watch DVDs at home instead for the rest of the month.
My God, Collateral 2-disc edition is £3.93 in Tesco - looked at it for a decent 15 minutes, then forced myself to walk away and leave it...if I can't generate cash for treats by selling stuff, they're not getting bought this month and besides, it'll probably stay down in price for the last bank holiday of the month. If not, it'll be that cheap again at Christmas.
