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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Indulging Myself or Possibly The Best Present Ever.

The weekend has landed and I have been looking forward to it as I am currently spending it in Surrey with my sister and her family.

I only saw them over Christmas, but I am so lucky that we are very close and her husband is like the brother I never had.

The reason I am down? Well part of my Christmas present was a hair cut at a very nice salon down here. Such a useful and indulgent gift – thanks sis!

Really looking forward to a bit of luxury tomorrow morning, plus I am so glad to be able to help out here whilst I am down by doing a bit of free babysitting for them tonight and tomorrow night.

My nephew is without a doubt the handsomest boy there is and if my sister is out with her hubby I then get him all to myself. At 3 years old he is full of beans and I am really looking forward to playing with him.

It is true the best things in life are free.

I am planning on being home by Sunday lunchtime and the two tasks I have set my self for this weekend

• Sorting out my paperwork finally
• Clearing the Christmas Cards from the shelves.

If I can achieve these goals then I will be very happy.

I did my weekly fridge clean last night and only had to throw an old lemon away. So not much food waste from the last 7 days, which is good.

I have stuck to the menu plans for this week too, apart from yesterday when I felt really ill, so I ignored food after lunch for the rest of the day.

And whilst I did feel really poorly last night I did manage to strip and wash the bed, so I have managed to avoid the tumble dryer. I was going to turn the heating right down, but as I felt so ill I gave in and kept in up high until bed time. However, I then turned it right down for the morning and left it like that in case it freezes whilst I am away.

One step closer to reaching my target of £250 for the next quarters’ utilities.

I find that giving myself a target to achieve really helps focus my mind in terms of finances. As a female living alone, I do not have the safety net of partner’s salary in case of emergency, so I do always keep a couple of months salary at least saved. This would more than pay off my debts, but leaves me open to just incurring additional debt should the boiler break again, or the car develop a problem.

Debt gives me focus and savings give me peace of mind.

I hope you all have a great weekend!

Frugally yours

Abigail

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