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Monthly Archives: August 2012

I managed to upload a photo of my debt-monkey – you know, the one whose been on my back for over 20 years?  He goes by the name of Fred, however, I’ve never wanted to get too personal with him – even though I have slipped down his slippery road during the years – so I just call him by his true name, ‘debt-monkey’ (which he hates, btw, and constantly tries to cling tight to my neck – especially now that I’m shaking him off, with intensity!)

So here he is:-
debt-monkey: meet my friends.  Friends: meet debt-monkey… your days are numbered…

Image

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Cash – I’m falling back in L.O.V.E. with it!

In the beginning of August I started an experiment.  I decided to take out of my checking account cool, hard CASH to see if I could live on this, and this alone for my day-2-day spending.  I’m trying my own version of the ‘envelope’ system within my budget software.

I’ve always known that I’m bad with my debit card, let alone a credit card.  I would go to a supermarket, and decide to spend say £10.00 (around $15.00).  However, somehow I would end up spending more money than I should, and I would pay for it on my debit card without actually thinking ‘hey, stop spending too much money, girl, you can’t afford it’!  I would then wait a few days before it came out of my account (sometimes instantly, and sometimes up to 1 week, depending upon the retailer).  That can be ‘so frustrating’ to ‘wait’ for the money to leave your account.  So I decided to do what my parents do – USE CASH ONLY FOR EVERYDAY STUFF.

I’m loving it!  You instantly stop spending on anything and really ‘think’ about whether you can afford it or not.  When it’s gone, it’s gone…  I have £30.00 (around $50.00) left in cool, hard CASH for this week – far more than I actually need, and I’m really happy about that.

Another momentum thing I’m doing is writing everything, yes EVERYTHING money-wise in my diary on a daily basis.  Spending £25 at the supermarket?  Write it down.  Spent 59pence on a packet of chips today? Write it down.  It’s all written in black and white – I need to see where my ‘cash money’ is going.

I’m also collecting those little spare pennies (cents) and started to put them into a jar.  Once the jar is full, I’m going to count it all up, and put directly towards my debt!  It’ll probably take around 4 months or so to get filled, however I’m going for it…

‘every little helps’…

Hi all, and here it is – my debt stats for August.

in July, I managed to shred my debt to £11,803.86… for August I now owe the following amount:-

£10,745.70

I chucked £1,084.70 at my debt for this month, and it’s really been tough – however but I did it!

July breakdown:-

– £4,243.49 kitchen loan with 8% interest  = reduced to £3,577.07
– £7,499.09 with 0% credit card  = reduced to £7,168.63

This equates to the following:-

– Loan : £692.96
– 0% credit card : £146.28
– 15.75% credit card, outstanding amount : £245.46

I thought I had finally kicked that 15.75% credit card in the butt, however this week I received an outstanding amount for £16.17p to be paid – typical!

I’ll try to pay off the same amount for September, however it was so tough doing this amount this month, I cannot promise the same intensity – you have been warned in advance 🙂

I overspent this month – there, I said it!  I didn’t want to even mention this to you all, however I feel that I must so that I’m accountable for my actions.  I have a wedding to go to next week.  I had my outfit all figured out.  No spending, that was the plan – and then I was hit with it – we have to wear a pastel outfit.  WHAT?!? I have to confess this really has pushed me off target.  Yep, I’ve now spent some money on a ‘appropriate’ dress as I didn’t have any formal pastel attire.  Damn I hate spending money!!!

My budget spreadsheet has assured me that I’m still on schedule, and so I’ll be able to sort myself out with my end of the month paycheck due the end of this week – hence the reason why I don’t think I’ll make my intensity target for September 😦

Debt monkey : your days are numbered…

Last week I decided to ‘sort out all of my paperwork’ and categorise them:-

  • rubbish (black bin)
  • rubbish but has my name / details on it (shred)
  • important / recent data to keep (file)

This took quite sometime, as I’ve accumulated a lot of paperwork during the last few years – my years of denial!  Well, during my clear-out, I came across some old information which stunned me –

  • old bank statements a few years old which confirmed that I’ve been living in my ‘overdrafts’ on both my bank accounts far longer than I thought
  • credit card statements dating back from 2007 which I wasn’t even aware I had!

This proves one thing and one thing only – I’ve been literally ‘living’ in DENIAL for such a long time, I didn’t have any control of my money, even when I was ‘controlling’ my minimum payments / loans.

I have 2 main checking accounts, where one was always in a large overdraft and the other, which I was convinced I only started tapping into its overdraft during the last 6 months of this year.  However, the statement I found, going back since 2010, confirmed that I had already meddled into this particular account and had already maxed it out before.

In 2007 I thought I only had a loan outstanding, before I increased this loan to £20k (around $35,000).  However, again, as before, I found personal information which contradicted this.  A credit card statement which was already nearly £2k ($3,700) in the red.  How could this be?  How could I of got myself in such a state and not even remember?

Denial.

I was totally out of control and I didn’t even know it.  As long as I was paying my loan each month (and also making the minimum payments on at least 1 credit card that I am aware of), it wasn’t an issue to me.

Damn, this is so sad.  What a spiral of debt I was collecting, and yet I didn’t see it as an issue, and scarily I still cannot even remember these instances.  I obviously blocked it all from my memory, and only concentrated on the loan, and nothing else, as an issue.

How things have truly changed.  I’m so grateful that my eyes are open now, and I’m so damn angry right now.

Well, well well – I can now take it easy and breath, properly.  My hero Usain Bolt won the 100 meters at the Olympics just over an hour ago.  In fact, I wasn’t fussed who won, as long as it was a Jamaican, as that’s my heritage.

Now Bolt, Blake (and hopefully Asafa), do your magic at the 200 meters & the relay.  Plus you Jamaican girls, push it too – I’m rooting for ya…

Oh, how I wish I was at the stadium tonight, which is only around 6 miles from where I live.  However, I couldn’t go.  Why, I hear you ask?  Because I’m in fucking debt 😦

Fuck you debt-monkey – fuck you…

‘The stadiums are packed to the rafters’, the journalists keep on harping on about at the olympics.  Yet I’m here, watching the live Handball match against Great Britain and Argentina, and all I can see is rows of empty seats.  Like the other sporting arenas. The olympic organisers have really fucked up on this front.

They started off with ‘very’ empty seats at the most popular events (gymnastics / swimming / archery / soccer etc)  They then blamed it on the ‘Olympic family’ by not using their sponsorship prime seats.  Joe-public who scrimp and saved for the olympic lottery tickets last year, and who were told that all ticketed venues were sold out were lied to.  Fuck the sponsors!

You bastards.  I could be sitting in one of those shiny yellow, green or orange seats right now – bastards!

Yes, I’m still mad…

On another note I wanted to inform you that CC2 has been officially demolished!  I cleared her ass a few days ago, and I’ve now started motoring onto the loan with intensity (or at least when intensity gets a hold of my skinny ass).

So, I just have the loan (which is 8% interest), to clear, and then the 0% balance transfer.  I see a change-a-coming along.

To think, a few months ago I had 3 maxed-out credit cards, 1 kitchen loan, 2 maxed-out overdrafts, no savings, living paycheck 2 paycheck and totally overwhelmed.

Today I have cleared my x2 overdrafts, cleared x2 credit cards, transferred the remaining 16.75% credit card over to a 0% balance transfer, started to motor on and kill my kitchen loan, start building my emergency fund (savings), and having a little bit of money left over each month.  I think I’m beginning to get into a good zone.  I’ve still got a long way to go, as it’s so easy to just say ‘fuck it’, and relax a bit, however I’ve got to stay focused.  I’ve got to.

Check out these sayings from Dave Ramsey:-

  • Normal is broke.  Be weird
  • One definition of maturity is learning to delay pleasure
  • If you live like no one else, later you can live like no one else

We need a revolution, people. Let’s go get it…

I love sport.  I love the olympics.  And it’s in my town, yet I cannot see it 😦

Why?  Well, for a number of reasons:-

  • I cannot afford the pathetic prices they are charging, it’s criminal 😦
  • the website doesn’t ‘let you’ obtain any tickets – keeps you holding forever and then… nothing’s available
  • I CANNOT afford it 😦

I have a confession.  I’ve been desperately trying to get some tickets, any tickets, from the website for the past 2 weeks.  I couldn’t help myself.  I’m on vacation, I’m in London, the circus is in town, yet I cannot get any tickets.  I want volleyball.  I want gymnastics.  I want handball.  I want athletics, yet zilch.    Are the Gods keeping these tickets away from me and say ‘debt-monkey, debt-monkey, debt-monkey’?

Ah well, I’ll continue to watch it on TV.  The coverage has been superb on the BBC, as you can watch any sport at anytime with the faithful, interactive ‘red button’.

I hate the olympic committee – they are depriving me of going to any events…

I’ve got to be logical, my debt must and should come first above anything.

Yet I have to confess – I’m gutted that I’m not going to any events.  My word, I’m so tight on money, yet I’m still willing to forfeit my debt-regime to be at this spectator-event when really I should be looking to get debt-free as soon as possible 😦

Today to relieve me of my frustration, I punched the debt-monkey in the pussy severely by chucking an additional £90.00 up his pink ass.  This was some work expenses which I got back yesterday, and really should of gone into my checking account for the month, however I was so pissed with not being successful in getting any olympic tickets I kicked that monkey up the ass instead.

Take it up the ass, you monkey, you!