January Reviewed

As end of the month approaches, I am on the countdown to payday - 2^nd Feb with a budget of £43.11 for 6 days. I can do this!

So time to review where I am financially.

Credit card 1 has increased slightly after I did the balance transfer. I have to pay a balance transfer fee of £20.36, which is a percentage of the total balance. I paid £31.01 off it this month, but the rest got eaten up in interest. But for 16 months the card is interest free so everything I pay from now on comes off the balance without interest charged.

MY DEBT

Car Loan            £334.00     It will be paid off by April

Overdraft           £300.00     Need to look into cost of the overdraft per month

Credit Card 1      £514.12     £3.18 in interest

Credit Card 2      £710.36

TOTAL DEBT       £1858.48

Previous total      £1990.80

Reduced debt by £132.32

A reduction of 6.65% in January 2012.

I will be paying off a larger proportion of my debt in February. In January I had bigger overheads - utilities and a double month on the service charge for W Towers.

Do not forget February and March are council tax free if you pay monthly. I pay circa £75 per month so currently I am deciding whether to save this money or pay it off my debt.

Conclusion – I need to pay off more each month to reach my target of being debt free (not inc the mortgage) by the end of 2012. Paying off £161 a month means it will take me 11.5 months – not acceptable. I need to find a way of being able to eek a little more into paying off the debt when the commission is not happening at work.

Thinking cap on.

You probably have noticed I love a list. Here was my “To Do List” for this week.

·         Put DVD on Freecycle-Both were picked up tonight.

·         Clean out kitchen cupboard

·         Prepare mushroom kit

·         Finish washing and ironing

·         Sew buttons on – Damn it, this weekend…. I promise

Here is my list “To Do List” for the weekend

·         Sort out photos from holiday in 2010!

·         Sew buttons on trousers and coat

·         Bake bread

·         Bake a lemon cake

·         Make another sausage casserole in the slow cooker

·         Clear another kitchen cupboard

·         Empty clutter from the hall.

Made do today with the coke and crisps from my jaunt to Poundland earlier this week, but will have to grab a drink tomorrow. But I did have to stop at the shop on the way home and grab some mushrooms and a garlic bulb for the  paghetti bolognaise I cooked for The Chap and I. So the  £7.50 got blown. I spent £5.11. But I did pick up some posh lamb and chilli sausages reduced from nearly £6 to £1.75. Straight into the freezer for a casserole another day.

When I did arrive home the door had been fixed, Great! Here is the before picture. Like my tarpaulin handiwork? No after picture I am afriad.

Not a bad day world!

Frugally yours

Abigail

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