4 Months On

OK - This is my plan:


STEP1 (and ongoing - build the foundations of good habits)

* Keep on top of my finances - forecast/budget cash flows and frequent account checks;

* Repay my debts as much as possible with any available savings;

* Keep spending under tight control;

* Keep out of my overdraft every month going forward;

STEP2

* Make over payments on remaining credit card balances until paid off completely as soon as possible;

* Start saving and utilising the tax-free annual ISA allowance;

This is how I plan to keep my spending under control:

* Keep reminding myself of what I want to achieve;

* Use Cash Flow forecast to make sure I know at any time how much I can really afford;

* Watch out cost of meals at work;

* Buy as much from Lidle as possible;

* Use cash back sites, 'mysupermarket';

* Watch out cost of dinners and supermarket buys;

* Avoid impulse buys: do I really-really need it? is it worth not achieving my goal, be free?

Over and out :)

A little bit about me and my blog!

Have you ever stopped to think about all the things we learn at school and how much of that we actually end up using in day-to-day life as adults? Reading, writing, simple maths, a foreign language maybe? Most of this we learn in the primary school.

What practical, valuable skills did we develop during our many school years? Surely we acquired interpersonal skills but we learn these in the playground more than in the classroom. What about teamwork, all these team projects? But emphasis is on individual success. What about time management, multi-tasking, questioning, taking nothing for granted, learning to achieve success through failure? No, none of that. What about creativity, managing our personal finances, basic DIY skills? No, none of that either.

Have you ever stopped to think about all the things we learn at school which now hold us back? Conforming, always fitting in, never question the teacher, fear of failure - to name a few.

It's been a while since I was last at school and maybe things have changed but I blame my poor school education for my shortcomings of today. The aim of this blog is not for me to boast about my financial success and common sense but to declare my lack of it and document my attempt to make up for lost time.

I have read and am still reading books, blogs, forum chats of people who are content, who have already found their way through the maze of information, who claim to earn a lot of money from home, who probably have succeeded in reaching the ultimate goal of financial freedom. To be honest with you, I find them a bit scary. There is so much to learn that I do not know, where can I start? Who can I trust when the same people who offer the advice are simultaneously trying to make money out of me.

Well, I will start small. I will start by "spying" on my finances and finally putting into action all the small, simple ideas I have had for a while about improving my financial position. I will start by beating inertia and following my own advice! On my journey I will let you know about everything I find out, what works and what doesn't and I am hoping to get as much feedback as possible from you, too! I hope I am not alone in this.

Till later :)

Miss MoneyStrapped