Being an adult!!

A question about : Being an adult!!

Hey All,

Am a fairly new lurker who has decided to take the plunge and start a diary to try and keep me on the straight and narrow!

I'm a single mum to a crazy beautiful toddler, I work part-time and study part-time and I'm hoping to go to Uni in September to study nursing.

One of the reasons for starting this diary, and the reason for the title is that after many years and Ј000's of debt, I've finally got myself into a position where I've been able to open a normal current account with F**** D*****. For about 10 years, I've had a managed bank account, which was tied in to the company who I had my DMP. Yes, I was stupid enough to pay a company to sort it out, but it's done now, paid off and in the past, so I'm not going to get wound up worrying about it now!

So, I'm finally in charge of my own finances and it's solely up to me to make sure I have enough money in the bank to pay all my bills on time. It's really scary!!!

I've also been able to transfer my only debt, which was a credit repair card, onto a 0% for 35 mths deal, which is going to save me a fortune. I've already cut the new card up, and cancelled the old one, so no more spends on it! As it's interest free, I'm not too fussed about paying it off immediately, I'm more concerned about getting some sort of emergency fund in the bank so I don't need it!

I bought YNAB on new years eve at 75% after recommendations from this site, and it's revolutionised my life! I can't believe how easy it is to put money to one side, as long as I can stick to it, then everything should start feeling a lot more secure asap.

Apologies for ramble - I'm off to meal plan!!!

Best answers:

• Congratulations on getting to a position when you are almost debt free. I use spending tracker and spreadsheets to help me budget, only because I am too mean to pay for YNAB but I understand it is a really helpful tool. Budgeting is the best way of getting and keeping out of debt so wish you good luck on that.
  I also think you are doing the right thing on prioritising an emergency fund rather than paying off the 0% credit card. Look forward to seeing how you get on.
• Sounds like you've done very well so far and great news on the card. Will subscribe.
  I love the username! Have watched the first episode and very much enjoyed it. OH is away so need to wait for him to be back before we can watch another one.
• Well, that week and a bit shot by!!
  Spent a few days in Edinburgh over half term seeing family, and surprise, surprise, I stayed within my budget - thank you YNAB! I took out the money at the airport, and managed to keep about Ј20 under. I was helped massively by the fact that nearly everything was paid for by my brother, he's a manager at the hotel we stayed at and we ate there or at his flat so I didn't really have to put my hand in my pocket at all!
  One thing I forgot to budget for was travelling as I've had my first uni interview and it cost nearly Ј20 on public transport to get there and back, and I've got another on Wednesday which will cost about the same. Fortunately, I had set up a Ј50 buffer for this month on YNAB so I'll move it from there. I have been naughty and done a budget up until June, I know they recommend you don't put in money until you've got it, but as I've just moved from a managed bank account, I'm a bit scared about allocating the money before I know where it should be going. Obviously none of the transactions are marked as cleared, but I can see how much I have available for food shopping, etc at the beginning of the month. Maybe when I get a bit more confident, I'll stop doing it this way, but right now I need the boost!
  DS has finally shaken her cough so we've had a few nights sleep, but I'm so behind with my coursework, I've been up late trying to get it done. Have managed to finish one essay tonite, but still have 2 more to do by Thursday!! Probably doesn't help that I keep popping over here and reading other people's diaries!!
  Although I am always busy, this diary needs to be kept up as it is so important I stay on track, so I'm going to have to make the time. I might put an alarm on my phone allocating me half hour a day to update, even if I don't do anything!!
  Thank goodness Better call Saul is only on once a week, otherwise I'd never get anything done! Mind you, it is my only distraction, apart from MSE!
  Night all, I'm off to read about cell division!
• Roll with the punches Jimmy, roll with the punches. I am a new convert to Ynab and it definitely is working for me.
  Good luck with the uni thing, i'm off to uni in Sept aged 47!
  Sunscribed.