Debt Free (again) in 2015

A question about : Debt Free (again) in 2015

I had my light bulb moment way back in November of 2007 when what I owed was the same as what I earned and it took me four years to clear the debt. Of cause I didn't do it as quickly as I could have because I didn't get rid of all my credit lines.
When I was finally debt free in 2011 I didn't really have a clear plan of what to do next so by 2012 I was back using credit and by 2013 I had taken out a loan as well.
One of my problems had been a flexiloan account I had, with Ј5k revolving credit. I kept it open as an Emergency Fund. But it is a credit account with an interest rate of about 19% - so not cheap money to use. I just couldn't not have it could I!
Using credit for Emergencies is not a good idea!!
So last month I sold some shares I owned and clear then closed the account once and for all and feel really good about it! I was addicted to the need to feel secure with someone else's money.
I still have Ј1,500 left to pay on the loan which I plan to do by early March and this time I have a goal for when I am debt free. I need to save up an Emergency Fund of Ј7k (which is about three months wages).
I don't plan this to be a long diary! And if I can be Debt Free before March I will do it!!
I am self employed so have a tax bill in January, which is why I will not be clearing my debt sooner.
Roll on March and being debt free again!!

Best answers:

• I am a spender and can be very emotion with my spending. If I am feeling down, that is when I am more likely to spend money I don't have. This is something I have been working on for the last many years.
  Also I love to spend on other people - you can almost give yourself permission to do this. It's not for me and they really, really need it.
  I have five god-kids and they live with their Dad (mum's gone off to the States with new man she met online). Real needs here and this is where my loan debt came from. Dad ended up in hospital and I was off work for three weeks playing fairy god-mother. New shoes for school, new uniform for new school etc. not counting groceries and treats.
  I had my Emergency Fund (ie. a Flexiloan account at 19% interest) but decide to take out a loan at only 6% to deal with all the expenses I had incurred. As I am self employed I don't get holiday pay etc. So it was also to cover my monthly expenses.
  Travel is also a favorite past time of mine and as I am a Kiwi I like to get home from time to time. Last year I went for three months and well I still had my EF to cover any extra costs and must have spending monies.
  Is it only me or do others have the same problems? No self control.
  Time to brake the habit and go cash only - I have been listening to Dave Ramsey. No credit, so need to get rid of my Ј300 over draft on my current account. The very last of my credit lines.
  I have been given some Christmas money so am going to use that for the rest of the month for spending and transport. Am having lunch with friends this afternoon and have been told not to bring any thing. So will take their word and not bring any thing (not even flowers). I feel a little bad about it but you have to start some where if you want to only spend what your have or can afford or have budgeted.
  I would like to get my Emergency Fund back up to Ј1000, currently have Ј600.
  Of that Ј100 is in my expense account where all my direct debt payments come out of. I try to fund this account in full at the start of the month but have found I need to keep an extra buffer in the account for the start of the month as I have three payments which come out on the 1st or 2nd of each month.
  (I should have this buffer separate from my Emergency fund really.)
• Day 3 - I am doing well this year, have only spent the cash I have in my purse from last year and not used my debit card. In fact I have taken my debit card out of my purse and am going to go cash only.
  Tomorrow I am taking a friend out for lunch, yesterday I went to my local bank branch and took out my monthly spending money, so lunch will be paid by cash.
  The only debit card transaction this month will be my purchase of YNAB software. I am cross I missed out on the sale on New Years day. Hope for another sale between now and the end of my demo month.
• For me 2015 is about goals not resolutions. Lets be real how many times have I made New Years resolutions and by the end of February I can't even remember what I had hoped to achieve.
  Resolutions are things you want to do but goals are things you are going to do. And there lies the difference.
  I have added another goal for 2015 and like lots of other folk on the Forum I would like to lose some weight. I jumped on the scales and just about had a heart attack as I have put on about 7 pounds in the last few months. As I don't know how great the scales I used are I will check again at the gym tomorrow and use the scales there as my actual weight.
  I love going to the gym and go at least three times a week but haven't been able to go for most of December because of work. Hope to make that up in January and burn some calories. Going to the gym gives me something to do other than spending or eating!!
• I have a confession to make - I need some major dental work to be done and I have been sticking my head into the sand about it. My big excuse is that I have been waiting for the end of the silly season before I find a new dentist.
  In June last year I changed addresses and until now haven't bothered to sign up with a local dentist. I only sign up with a local doctor in November.
  Today I finally made an appointment with the local NHS dentist (for Wednesday) so at least I know the most I will be charged is Ј209.
  I have a crown that has come out and now I am like that girl on the telly advert with a missing tooth. Thank goodness it is not a front tooth - so not visible at all. I would have been at the dentist the same day Christmas or not!!
  But I have been warned when I had problems over a year ago that it may need to be redone and that really, I needed an implant as there wasn't much of the tooth left to set the crown on.
  The NHS don't do implants I did inquire at local non-NHS dental surgery about the cost of implant's and they said Ј3k. However a Polish lady I work with has given me details of a Polish dental surgery here in London only change Ј780. I have checked out their online site and will have to give them a visit after I get an idea about what can be done by my new local dentist.
  All of this is going to stuff up my budget plans for the year big time. My Emergency Fund is going to take a major hammering but hey! ... at least I have an Emergency Fund.
• I hate going to the dentist but it was okay as they were only looking today. It is as I thought, they need to remove what is left of the tooth, roots and all, so that will be done on Friday.
  To get an implant done I was told they charge towards Ј3k for an implant but that I don't have to rush out and get it done straight away. So that is good news I can budget and save for it to be done (probably else where)!
  Posted some books to a friends son in NZ who has the same great taste in reading as me and it only came to Ј10.75. Last time I am sure it was about Ј13+ so am happy with that.
  After the dentist and the post office, I needed a coffee and went to my usual ordered a large coffee and when I went to paid found that I was being given a medium. Pointed out the error and got a large for the price of a medium. lol
  It used to be every 5th coffee I bought was wrong i.e. given the wrong size, or not decaf, no syrup etc. But now it is one in 4 coffees.
  It is always a good day when I can leave my debit card at home.
• Here I am trying to build up my Emergency Fund and instead I am having to use it for very minor emergencies. Like my trainers have given up the ghost and so I have had to buy new ones (there goes Ј40). Then last week was my dentist appointment which wasn't too bad (there goes Ј50.50). And today I had a funeral to attend and brought flowers etc. (there goes Ј62). So that is Ј152.50 total.
  On top of that, the pound has been falling in value and so it cost me an extra Ј20 to send my deposit to my bank back home.
  Need to pull in the purse strings for the rest of the week.
• I have not been on for a while because I've been busy looking for work, doing a temp job and moving house! All the things than cause the most stress!!
  Yesterday I started my new job and will give it a couple of weeks to see if it is a good fit for me. One downside of my job is that I will not be able to get to the gym like I have been able to over the last few years. It is a bit of a saving on my monthly expenses. Still I would rather be able to go to the gym every other day
  I have been living of my Emergency Fund, so not adding to my debt. I had hoped to have paid off my last loan in February but this is not going to happen until March.
  It is so good to have an income again! Boy! When your not getting paid it makes getting a job so, so serious and so, so stressful. I am self employed and get work via agencies. This time there didn't seem that much work about which was a worry, usually there are several jobs to chose from.
  Top priority now is to fully fund my Baby Emergency Fund and then pay off my final loan in March. Then I will be debt free!!
• Have been at my new job for a fortnight now and so far so good. Have kept up to date will all my major expenses and regular savings goal with the exception of clearing my final debt.
  Next month I have five pay days and so will be debt free. Can't wait!!
  I have been spending a little to much on eating out etc. so have left my debt card at home to stop me continuing this bad habit. Will help me lose weight and save more money. (Simple!!)
  So many people here on the DFW forum are doing so well, it makes me frustrated that I am not. I love reading how others are doing. But I am mostly just trolling as I can't spell and so find difficult to just shoot off a post to encourage etc. in response to the post I read. Sorry!