Monday, 31 March 2014

Where is my money going?!

As you may recall, I started to track my spending on 1 March in order to establish where all my money was going. As I was unemployed, and had no job offers on the horizon, I was being more careful with my spending that I use to be, however, I knew March would be a fairly expensive month as I had many plans.

Friday, 28 March 2014

Friday Frugal Fitness

I am back!! I apologise for the lack of posts, after not having much success with job hunting I suddenly had 5 interviews arranged over 4 days. To say it was stressful is an understatement! Thankfully I have been offered a full time fixed term role until next February and I start in a couple of weeks time. I am on my way to being debt free! 

On another note, my goals this year are to become financially fit but also healthy. The past 3-4 years I have worked a very stressful job, had a very stressful home environment and I am now nearly 2 stone heavier than I would like to be. I am by no means obese, I would definately be 'curvy' rather than fat, however, I feel fat and I need to change so on Fridays I will update you on my frugal fitness challenge.

Sunday, 16 March 2014

The best things in life are free

Being unemployed the days can merge into one but this weekend has really stood out. It's probably due to the fact that the weather in London has been absolutely smashing this weekend. Sunshine I love you!!

Last night I saw a lot of old friends to celebrate the engagement of a couple I know. As it was a home party, it was nice and cheap and I didn't have to spend anything as we already had a suitable bottle of wine to take.

Thursday, 13 March 2014

Budget Beauty

In my early 20's I loved nothing more than buying expensive lotions and potions. I was so desperate to have the latest 'must have' that I would buy that new body lotion even if I had half a tub of my previous lotion left. If I was 20 I would probably be blogging about make up rather than debts. However, in my early 30's (and before my drowning in debt realisation) I came to realise that, the majority of the time (there is one exception), cheaper beauty products worked just as well. 

These are my favourite budget daily facial products:- 

Thursday, 6 March 2014

Debt update

I receive my credit card statements around this time each month, so will do an update now rather than at the beginning/end of the month. My balances now are as follows:-

Credit card 1 - £9,128.84
Credit card 2 - £5,692.77
credit card 3 -  £2,291.44

Total:              £17,113.05

A reduction of £665.32 off my debt which I am really pleased about. I'm very excited that next month's balance will begin with £16 something, it looks so much smaller! 

In terms of my debt, CC1 is my highest debt and shares the highest interest with CC3. At the moment I am approaching my debt via the 'avalanche' method and putting all extra cash into CC1. CC2 has the lowest interest rate out of my cards by quite some way. CC2 and CC3 also have some of the balance on 0% interest (the vast majority of CC3 is 0%), the 0% end between November 2014-January 2015.

I mentioned in my post on 1 March that the debt repayment calculator had predicted CC1 would be clear in 4 years. Ideally I want to clear it by December 2015. That's what I am aiming for now although it is a little job dependent.

Saturday, 1 March 2014

1 March - new start

Today is the day that I begin to record all of spending. Every Single Penny. I need to establish where my money is going (i suspect it is on Cadbury's creme eggs). Once I really know where it is going I am hopeful I can cut down and use the excess to pay off debt.

I used Which? credit card calculator yesterday, the prediction for credit card 1, by paying an extra £60 a month, was 4 years to clear!! As I have two other credit cards I really need to funnel as much extra money as possible onto card 1 otherwise I am going to be paying off debt for the next 7 years.

I came across this 52 week money saving idea this week which I think is a great idea. However, instead of paying the money into a savings account/putting in a pot, I am going to pay it onto card 1 each Saturday. So today I will pay £1. I should in theory pay/save £1,378 by this method.

Have a lovely weekend x