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How I came to this step.

I often sit and muse on how I became deep into debt. I left home when I was 16 with no idea on how to budget. I had started working at McDonald’s when I left school and got the job because I was keen. I worked there for two years and some weeks spent the money before it even landed in my purse. Eventually, I became poorly and my doctor signed me off and I haven’t really worked since.

I began sliding into debt when I got an unarranged overdraft and in those days you would get charged £30 a day and the debt rocketed until I ended up owing £2350 on overdraft charges.

Then I began taking out sim card contracts and I could never time things right and I would spend the money in one go. In the end, it escalated into about £10k debts.

Letters would drop onto my doorstep day after day. The fear began escalating and I buried my head in the sand. Until I logged on to a credit score checking sight and realized my score was in double figures. “99”. I almost burst into tears. I know the score doesn’t matter in the scheme of things but I know for a fact that my financial history is in the toilet and things need to improve.

I am beginning a part time college course in October and will be studying to be a solicitor. Eventually, I would like to own my home. That isn’t going to happen if I am waist deep in debt.

So I plan to follow David Ramseys Baby Steps and hope that next year I will almost debt free.

The first step is to knock Baby Step 1 out of the park.

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Day 2 and Doctor Who

Another successful day. It wasnt perfect I actually spent all of the blow money but I havent bought anything outside of the envelopes so I am seeing as a success. I am sure other people will disagree.

Its actually going to be an awful tight week but, I have to learn to live tightly to get anywhere anyway. I am going to go through the freezer and cupboards and knock together a meal plan and try and get some ideas of what to eat all. I have plenty of food so its just a matter of seeing.

I am very excited for Doctor Who tonight. I am a huge whovian and have really looking forward to it.

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Day 1

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Today I woke up ready and motivated to not spend money on stuff I didnt need. I went for a walk with my girls to get electric and to buy a tin opener. I went with £5 and come home with £4. Today has been a good day.

I was intending on originally following the example of Michelle Mcgagh but its harder to do when you have children so I have allowed myself £15 per week blow money. For sweets and drinks for the children.

Obviously I will aim to save most of it for the end of the week and treat them for a movie night or something.

I worked on my budget and no have a workable zero based budget. I should be completed on baby step one on first week of june. Heres hoping.

Blow money allowance £0/15 Day 1

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Focus

Breath and go, and so the challenge begins. I need to get serious if I want that house in the welsh dales. The one I know calling to me as I sit here now with no money in the bank, no job and two children. I must be mad when I decided to set a challenge that I will buy my own home when I was 40. I am 28 years old and have no view or direction. Today I apply a minimalist lifestyle to mine and my childrens lives.

I have began reading David Ramsey’s book Total Money Makeover. I stumbled across his website a few months ago and started implementing an envelope system into my budget which lasted for a short while until I got self-conscious whipping envelopes out of my purse.

I have had a few stop starts but, I am ready to begin seriously not spending on anything but my essentials spends. Its amazing how much I can spend on food when not needed. I plan to update daily to keep me motivated. The aim is to be debt free in one year.

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The Idea

The challenge starts tomorrow. I will update weekly. The idea is spend only on essentials. So food, bills, transport and debts. I have the intention to do this for year but, i want to save up for a deposit on a house. I do have planned expenditures but these involve the children. I am a single mum of two. A three year old and a six month old.  The plan is to do a large shop at the beginning of the month and then do a small shop in the middle.

I am beginning to detest walking with my three year old as she really drags her feet and I get very wound up in the process. She does need a new pair of shoes but, that will be sorted at the beginning of May.

So cupboards stocked, freezer full and essentials in. Lets go.