A strangle hold grip on debts.

Living on a budget! Not always fun but necessary for everyone! I used budget brain and updated it to show alterations of standing orders and overpayments. Please excuse the big gaps between pictures today but I have screen copies from the budgetbrain website and the format isn’t easy to port over. Double click to see the budget below.
You can see these pictures by double clicking them. It makes you put everything on the sheets, from boiler insurance to life insurance. Our clothing allowance is £30 a month and that includes shoes for both of us although that’s mainly limited to a new pair of work shoes once a year. As you may already know I buy my clothes from car boot sales, charity shops and posh things from ebay.

Living off a immovable budget is difficult. It means you have to forgo spontaneity and plan for activities. You can never just ‘go shopping’ unless you have set aside a specific set amount to take and you take that in cash and nothing else. You can not afford meals out and birthday and Christmas presents are always handmade. You start to live very very differently and start to put money aside for trips to relatives as you know you need some spare money for the fuel to get there.
What ever we have left at the end of the month goes onto credit card bills. Every so often, we’ll log onto our accounts and see what the ‘odds’ are. If I have £243.26 in my account, I will often transfer £3.26 over to a credit card account and what ever I have left at the end of the month goes onto my 0% credit card to over pay it even more and pay off what I can. It leaves so very little for anything else that a day out, or something for the house has to be very carefully thought through. If I need a new coat, then I have to make some extra money to do this. If we need anything at all we try and sell something to pay for it, or we wait until payday to spend what’s left if there is anything left.

We also try to have a treat, usually on pay day it’s about ten quid which we spend on wine, some chocolate and a big bag of crisps. We always factor in a couple of days out a month where we spend a few pounds on some diesel and get out for a day here and there. I also buy a few craft items to make presents from. This month I bought coconut oil, cocoa butter and Shea butter to make some ‘posh’ soap for presents for family and friends. I will spend money on ingredients for mince meat, Christmas cakes and Christmas puddings, which are also for presents this month too. So a bigger than average spend for the end of September.

I know there are people who read my blog who are: careful with money and are living OK, some are in debt and are already doing something about it, some are on low fixed incomes such as a pension and are using their frugal skills to live as comfortably as possible and some people who need to embark on the journey and lifestyle I am on, but haven’t jumped in with both feet just yet.

Where ever you are and who ever you are, make a budget. Know what you have. Know where it’s going. You may see, like we did, that there is a little bit of slack and we can pay a little bit more to our debts each month or not worry when the dogs need grooming. We have as Foster Mummy says ‘nuff pence’ and we’re getting by in style. I don’t mean to boast but I’m blogging on my lap top whilst wrapped up in bed with the leccy blanket on and I’m deliciously toasty. DB is next to me and reading and our pets are at our feet. All is well!

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8 thoughts on “A strangle hold grip on debts.

  1. Thank you Frugal Queen – I read your blog every day, and you truly are an inspiration! We are working towards paying off our mortgage early and saving enough money to be able to retire early, and you are helping to keep us on the straight and narrow.

    Best wishes, Ellie x

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  2. Great post, I am makign inroads daily, getting there slowly, if my kids were not at home i think i woudl do more, but even my frugality rubs off on them, they are always bargain hunting etc with their pocket money.

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  3. Why bother paying off your debt at all? Money is only created by debt anyway. They created it, it isn't their really, so where is there right to make you pay it back? Whenever er go into a bank and take out a loan, they just twiddle some key on their keyboard into a PC and hey presto you have your money, this money is created out of debt, and if everyone paid off what they own, money wouldn't exist. Money was invented as a useful method of trading, but soon became based on greed and desire. A much fairer system is on based on a Resource based Economy, where there are enough resources to share around everyone, and goods are intentionally kept in scarcity, so we go to work so we can use out cars and flat screen TV's, mortgages and run up debt. Debt and bankruptcy are integrated aspects of this sort of global capitalism.

    Life is beautiful and its possibilities are endless. But life, based on the old structures and traditions, of power, greed and self interest is paralysing to the human spirit. A life based on endless consumerism, desire and conflict, is one of endless turmoil and drudgery.

    There are other ways, other possibilities of living, that are not based on a wage slave society, where the earths resources are shared equally between all of its peoples, and not as at present shared by a wealthy and privileged few. There are enough resources on the earth to feed and shelter everyone, once we move away from the present economic mindset which is based on scarcity and where these resources are viewed as commodities to sell and profit from.

    We must and can move away from these old ways of entrenched existence. Now, endless possibilities are appearing through new ideas, movements, awareness and technologies. New solutions are arriving that offer real solutions to the mess, this system has caused.

    I am creating a network of possibilities, for everyone to share. An index that anyone can use for information or for communication.

    This blog will attempt to keep abreast of these new ways of living. And try to act as a catalogue and index of all that is positive. There are other similar links out there, that are working in positive directions, but a world wide network is emerging where everyone can share each others idea's

    It's time to bypass the tired, old conflicts and activities, that do nothing but harm people and the planet. Leave the politicians, economists and war mongers to their power games, ignore them and eventually they crumble.
    Please met us know your news and views, send us your links, ideas and moments. Together change is possible.

    Do join us at: http://alternativedirections.blogspot.com/

    Warmest wishes

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