Monday, 31 January 2011

Month's End

It's the last day of January, the day my first tax payment is due for the year ending in April and I am happy to say that the payment has been made. Next tax payment is due at the end of July and I am budgeting to have the monies put aside before that payment in due, once I have cleared my debt in April.

All my debt is now held in my Flexiloan account - an account I want to cancel once I clear it but I think I have said that before. Still everything and anything is being done on my part to clear that last £4k and get back to that better place of "debt freeness"!

Today is the last day of the month but yesterday was my last pay day for the month and so I have to wait until Thursday for the money to clear - I 'll update my debit amounts then.

Coffee jar amount is £32.85 and I have banked this amount to go towards the £36 gym membership payment which is not due until March. So not bad, I have saved just over a weeks spending money in the last four weeks and if I can keep that up each month I will be very happy.
Tomorrow I am attending a birthday lunch and I have been able to buy a gift using my Nectar card points, so my £5 a day budget is still working well. I also have a Booths card with lots of lovely points on that should I need them.

Wednesday, 19 January 2011

Countdown To Clearing Debt

This week I received a cheque for a savings investment plan I had and after much thought I have decided to use it to clear my debt sooner. Having decided this I have banked the cheque into my Flexiloan account, which is my smaller debit and also has a lower interest rate than my credit card debit. This in turn made me think about clearing the card with the Flexiloan account, which should save me a little in interest.

Tomorrow my direct debit payment is taken for my flexiloan so I will wait until after that before I use the credit available to clear my credit card. Then I will have only one account to clear and all at a lower interest rate, going from 19.9% to 17.9%.
I have set up a snowball plan on and it says that I will be debit free by the end of April (only four months to go!).

I have been playing around with my budget and have worked out that I can pay all my monthly expenses, spending etc. in my first weeks pay, that leaves me with three weeks pay left to use to snowball my debit. Also the money I have been saving in my jar each week is going towards my monthly gym membership of £36.00. This helps to round off my budget to cover all my monthly expenses in my first weeks pay.

Tuesday, 18 January 2011

Good, Bad Or Ugly?

My Visa Debit Card, good, bad or ugly?
Last year I had the opportunity to use my new Visa Debit Card overseas - when I took it with me on my visit home (that's New Zealand if your new to the blog). I loaded it, having been assured by my bank that it would work just like a Visa Credit Card and with great anticipation handed it over to refuel my rental car.
No go! (as they say back home) - the petrol station with all the up to date gadgets and gizmo's for making payments by credit cards and the like, couldn't get my card to work.
Not put off by this I felt that is was just a glitch and that maybe it was just a one off so handed my card over again, this time at the Warehouse (think Walmart or the like) but once again, no go!
I try once or twice more before heading for the nearest branch of my bank. They were as helpful as a pork chop at a Jewish wedding! The name and logo may be the same but as far as the staff were concerned I was not a customer of the back.
Now just to let you know my Visa Debit Card did work in all the different bank ATM's in New Zealand, which always chargers you for the privilege if you are using a foreign card. However my last "non" Visa Debt Card worked in all the ATM's also, so it is not an improvement.
So good, bad or ugly - well for me it's differently ugly!!

Tuesday, 11 January 2011


Gosh it is well into January and time is flying again.
I have listed a load of books I have been reading in the past year on and check each morning to see if I have a sale or not, usually not but I have sold about four books since mid December. Snow flaking is up and running then.
I was given some money to look after a neighbours dog over the New Year and used that as my spending money up until this week and so haven't until today taken any money out for day to day use.
Went out and had coffee with friend today and he paid so that saved me some money. My £5 a day spending plan is an old habit I enjoy and I have started once again to put what I don't spend into a coffee jar - a little more snow flaking (every little helps - as they say at Tesco's).
My current account has not looks so health since before I went on holiday, the drag is that I will have to use most of it to pay my end of January taxes. Still at least they will be paid up and done with, Frugal Dad calls tax debt - Ugly Debit! And I agree you don't mess with the tax man.
Still I will end the month in credit, my tax bill cleared and having paid more than the minimum payment for both my debt accounts.
Off to the gym tomorrow so that will mean another fiver in the jar and a pound or two lost? Oh well here's hoping!

Wednesday, 5 January 2011

2011 Clearing my head

Oh Man!!!
It's the start of the year again and the Tax man is waiting for his cut at the end of the month and once again I am using my January pay checks to clear it, not the worse part even. While on my second holiday to NZ last year (yes that is correct - second) I have clocked up debt on my credit card and my flexiloan. So now is the time to get rid of both.
An emergency situation with my god kids has meant that I have added to the trip debt on my card. Not what I had planned but as they are my god kids I do feel I had to do what I could.
So back to clearing debt, something I have to deal with every time I come home from a holiday.
My flexiloan is up to £2,500 and my card is at about £3,700 not including my tax bill which is just over £2.5k.
The Tax I will clear by the end of January - no problem and then it is just working on snowballing the card and loan, something I am aways doing. I am back to my £5 a day budget and will start up going to the gym (yep put a few pounds back on will away too).
As VAT was raised to 20% from yesterday I am sure the gym has changed it's prices, so will need to check what it is now. My coffee is 10p more than it used to be and that has got to be more than 20%. Thank goodness the gym is a monthly pay deal that you can stop at any time, should my job end and I need to move on.
Closing both my flexiloan and credit card are going to be quite hard to be honest. That is where the emergency funds account comes into being I guess. Does that mean I need to have about £5K+ in an emergency account to feel financially safe? Weird when you really think about it, will I be different about it if it was my own money and not borrowed from a bank? Lets hope so!!
Goals 1. to clear my debt 2. save emergency fund of £5000 3. savings over and above this amount to fund house building fund.
So that is all settled - see easy - what made it seem so hard to sort it all out.