WEEK 26: PERSONAL CONFESSIONS ~ DEBT IS NO SMALL MATTER 8

Hi there and welcome to another debt is no small matter confession, next week Friday would mark 2 months since I last shared my progress so far on this road to being debt free. I will start by saying it has not been easy but it also has not been hard, I have said this before but I thought I say it again. The easy part is that I have had a new motto since I started 'if you do not have it, you do not spend it', this has honestly worked better than I could have imagined over the last 12+ months since I took the plunge to be debt free. The hard part is having the self control and the determination to not fall off the wagon and go back into debt to satisfy a short term craving.

I mentioned in debt is no smaller matter 7 that I had just over £2000 left to pay off and I also explained my reason for not rushing to pay this off in one lump sump and instead start to enjoy life a bit more. I am not sure about you but for almost 3 years now I had worked to pay off my bills not to live a life and honestly that I think contributed to me putting myself into debt. I would work all waking days and when I got paid all the money was spoken for and nothing was in my name everything either belong to the landlord, the home bills or the debt agency nothing had my name and I was the one going 8-8 busting my backside off.

I have just over a £1000 left to pay off and I honestly feel very happy about it and if not a bit sad, I know you wondering why I am feeling sad. Over the last year or saw I had developed big time on how to manage the debt that I had and not so much how not to get back into it. I am not saying I will be jumping right back into it I am saying it will or might be just a little bit harder to stay off it. I am going to stick to my motto but I also acknowledge I am human and might fall off but for my better future I hope I do not.

Have you ever been in debt? How did you get out of it or planning to get out?

Week 18: Personal Confessions ~ Debt is no small matter 7

Twelve months ago I made a decision that would later change my outlook on debt and my fears of being judged for being in debt. Yes some of the reasons I got into debt may not have been via personal choice (student loans+tuition) but some of it is (irresponsible use of credit cards) but regardless I was scared of being judged. 

There are two types of people who know me personally and both have different views, some think money grows on trees in my yard and some think I like to put myself into debt. It is not easy having either of these two groups of people in my life. The ones who think money grows on trees are always mad at me when I say I do not have money to help them and those who think I like being in debt are always mad at me when I decide to spend money on something that I love and want to treat myself. 

How in the world am I meant to deal with this behaviour  from people in my circle?

I was going through all the posts I have shared with you all in the last twelve months on  my debt free journey and I just realized how much has changed. Granted I still owe just over £2000 but I realized the most significant change of all has been how much money I am spending paying off my debt on a monthly basis. Granted if I really wanted to I could pay off this £2000 in one go but then I will have to sleep at the office for the entire month as I won't be able to have anything else except a place to order dominoes. I chose not to pay it off at once because well life is too damn short, I want to go on holiday now instead of  in a couple months time. I might get hit by a bus in a months time so I might not go on holiday but now when I know what's happening this minute I am going.

I know I sound crazy for someone who wants to be debt free but I want to be debt free not dead. I still want to enjoy the small pleasures in my life. I am not saying I will ignore paying off the £2000 but rather pay it off with the current repayment plan I have in place.

Twelve months ago I used to spend £950 a month paying off debt alone, this did not include my monthly bills like rent and food. Do you know how debilitating this is, getting paid and spending over half of your pay on debt and not even have a penny to just once buy a nice shirt or nice shoes for work? I could not even go on holiday in the same county, country later alone abroad, sometimes I couldn't even visit my own parents for months on end. This is so not a life (for me personally), especially since it is just me no husband or kids yet.

My monthly debt repayments have reduced from £950 to £250 and this includes my mobile phone bill. You can not imagine how liberated I feel being able to have that £700 for other things including saving and visiting my parents whenever I want (which is almost every weekend), meeting up with a friend for a movie and drinks and being able to book a holiday abroad because I can.

I know I am blessed and never forget it.

I can honestly say in the last few months I have been living the life I have been working my back side off for the last Twelve months.

My motto still stands: DO NOT LIVE ABOVE YOUR MEANS

I pay my debt off, then my necessities and what is left I save or do something spontaneous.I won't be on planet Earth for long though I am not saying I will be reckless I am saying I will enjoy when ever I feel like it but still within my means.

Week 10: Personal Confessions ~ Debt is no small matter 6

The first time I ever decided to open up about my personal struggle with debt was last year in May. Though I had a plan in place of what I wanted to do, where I wanted to be around May this year and how I intended to get there I could not have foreseen how hard this process was going to be but also how much of an education, an experience this was going to be for me. One thing I do know for sure is this is one process I will not be repeating for years to come, I have sworn myself off debt. My boo always told me do not spend what you did not earn or do not have, at first I just thought he was annoying but 7 years on I realise it was trying to save me from this journey but sometimes I believe we need to experience something to truly believe the words of wisdom.

It's been over 3 months since I last shared an update on my financial state and my financial plan for 2015. Since we are long overdue I wanted to recap from the last 5 posts on Debt is no small matter then share my current plan and status.
In my first ever Debt is no small matter post, I shared how I got into debt and how I was going to get out of it. I laid out my plan as well as my new motto "If you don't have it don't spend it" - I am happy to say I have stayed true to my word and not once have I spent what I didn't have and by this I mean no loans and no more credit cards. After laying out my plan I went further and shared with you all the subscriptions & beauty boxes I was (then) currently preview to which I cancelled 90%. I am very proud of myself for not falling off the wagon with these because it was not easy but I knew my debt-free future was more important. In my third Debt is no small matter post I shared with you all how I was not able to reach my target of being Debt free by December 2014 due to family loses and my need to travel back home to Zambia after 12 years. Though with family loses and trips to plan I still managed to pay off 75% of my debt by December 2014, I then shared the true story on how I came into Debt and how much I was owing to begin with and the then current financial status. My last advice in 2014 of Debt is no small matter I spoke about my knowledge of money since I was young but my lack of will power even when I knew the consequences I guess I never just understood them fully.

It is so much easier to look down on people in debt when you have never been in debt or appreciate the struggle that some people go through. Most times people do just put themselves into debt because they want to live a certain lifestyle or want certain things in life and there is nothing wrong with wanting that. The wrong part comes when you start to live above your means and start to cause problems in families, relationships and friendships too. I am blessed to have a supportive unit and though I know most of the debt was not by choice (Tuition fee & rent) the other part was and I could have avoided it but then again I only now appreciate the situation after I have personally walked it. I know that if my only debt was my tuition fee and rent with my salary I would have been debt free after 3-6 months. I hope one day when I have kids I can teach my kids the best way how and hope they never fall into the same ditch that I did.

What I owed	What I owe	What I will owe come January 2015
£11,112.24	£4,817.20	£3,582.97

The table above I shared last year october, I shared what I owed to begin with, how much I was owing at that point and how much I would be owing come January 2015. It's now March 2015 and I owe roughly £2,103.01, I am working on clearing this before the summer and I am very happy with my progress the future looks so bright.

Week 57: Personal Confessions ~ debt is no small matter 5

Hi there and welcome to the final personal confessions post on money matters for 2014, I can not seriously remember when I last shared an update on the 'debt is no small issue' posts but nonetheless here is the last post of 2014 on this issue and you can read the beginning of my journey below.

1. Debt is no small issue part 1
2. Debt is no small issue part 2
3. Debit is no small issue part 3
4. Debt is no small issue part 4

In my last update I gave you an idea of what I was still owing and the plan for next year. I am so excited to be able to finish of paying all my debt and be debt-free so I can enjoy the money that the Lord helps me to make without the ache of having to shave a chunk to pay off debts which are not even normal bills. My advice to students starting out or already started is simple

I have always had the wise knowledge about money but my will unfortunately has not been as strong hence sending myself into this debt which if I am honest and lived the way I did back home I would be enjoying what I am earning now without a care in the world. But life is full of learns and consider me 'lesson received loud and clear and learnt'. I know it is not easy to stay debt free especially with mortgages, student loans, car loans but some of these are avoidable like credit card bills, store card bills, loan shark bills etc. They are very attractive there and then but they are nothing more like bottomless pits. I had a lot of small loans because the bank wouldn't lend me due to my then bad credit history these little loans cost repayment so much that I think that's the reason I've stayed in debt longer because all my big bank loans I have cleared with years to spare. Earlier this month I found out that one of the companie I had a small loan from had actually been asked by the courts to return all the money to it's debtors, they took their sweet time to inform their clients about it and I had been re-paying since beginning of this year, I am due to catch someone from there to ask about the refund. I also found out that the big loans from the bank also been charging me PPI and I am entitled to a refund, I do not know how much it is but will be great if it's enough to clear the small debt I have now.

I know most people do not really like discussing their financial situation which is fine but I think if you discuss it with your dearest and nearest it's fine at least all are on same page. 

I am wishing you and your family a MERRY CHRISTMAS and HAPPY START TO THE NEW YEAR.

Week 47: Personal Confessions ~ Debt is no small matter part 4

Hi there and welcome to my week 47 of personal confessions, today will be looking at how I am doing with my “Debt is no small matter” series. This series I started to document my path to a debt free life and how I making this possible, I also mentioned my new motto “if you don’t have it don’t spend it, no more pay later on high purchase items”. In week 39 I talked about where I was and how I was doing, if you remember I mentioned it’s not been easy breaking old habits but it was also no particularly hard because I had a set goal in mind and I have a certain view of what I want my future to look or at least attempt to look like. Today I will go further and review just much I owed and just how much I owe currently, it may shock some people and others will just shrug because well what I owe to them is nothing.

What I owed	What I owe	What I will owe come January 2015
£11,112.24	£4,817.20	£3,582.97

 So now you know how much debt I incurred in my 4 years at university (this is loans, credit cards and store cards). I will now explain exactly how this came about and this should not be taken as an excuse but the then current situation called for some.

 August 2008 I get my results from college, I have passed and I can actually go to university. I tell my parents we are all very excited and my parents tell me how proud they are of me. Fast forward two weeks later when my parents sit me down and explain how we could not afford for me to go to university this year and how I will have to wait till next year when we become British permanent residents for me to get support to go to university. You can imagine my pain and frustrations but there was nothing I could do even with the scholar I was short £5,500 for Tuition and £5,000 for rent, food and other necessities. I remember crying forever, I remember how G was upset for me and how much we hated the situation but accepted it because there was nothing we could do. My parents just bought a house with a mortgage so we could not apply for loan and I had no credit history so could not apply for loan. Anyway, I decided to become full time social worker and raise money for next academic year (2009).

 Fast forward September 2009, I had raised £4000 for tuition but had to remove £1000 to apply to become British permanent resident (not British just resident). I applied for government support but I was informed I was not eligible, I was gutted but again what can one do. I applied for a loan, got some credit cards and store cards (personal use and ego boasting nothing more) and ladies and gents this is how I slowly got into debt.

 At the start of 2014 I had so many misfortunes happen to me but what I did not know was they were also a blessing in disguise because here I was with almost £12000 in debt and just after 8 months I have been able to reduce this debt to just under £5000. The blessings that the lord has bestowed upon me are just too great I cannot thank him enough and cannot stop praising him.

 What has helped and worked for me (apart from the good lord) is calling each and every single company I owe and explaining my situation and agreeing to what I can pay them on a monthly basis. It was not always easy with some companies but I explained to them I could not give them what I did not have, I did a lot of expense and expenditure forms to come up with amounts that actually worked for me and the them. The important part was to make sure I could afford it after all my normal necessities had come out like rent, transport, utility bills etc. If you found that your debt is too overwhelming, speak to debt counsellors etc. they really help though they were not for me. Another option is debt free agencies which I personally don’t think were helpful to me but have been for other people.

 Have you ever been in debt? How are you/did you deal(ing) with your debt?

Week 39: Personal Confessions ~ Debt is No small matter Part 3

Hi there and welcome to another personal confessions and this week (39) I decided to update you on how my "debt is no small matter" is going. In my last update last month I talked about some of the steps I am taking to ensure I am debt free by December of 2014 - this is a new personal goal I set last month but as you know life does love throwing curve balls and that's ok. If you want to read more about my last update and what steps I took to help me on this journey then click HERE. When I first started this series I talked about how I got into debt and how I was slowly crawling out. It has not been easy changing bad habits but it has not been particularly hard as well because I am determined and I have a goal in mind. I told you about my new rule in the first series "if I don't have it I don't spend it that's my new rule no more pay later high purchase kinda situation because I am done." I have pretty much lived by this rule since I made the conscious decision to be debt free, is it easy yes and no because temptations are so many and good lord are there temptations many but having a strong family and will power behind me I am forging ahead. If you want to read more about how I got into tempt and my crawling out of it then click HERE.


So coming back to today, where am I and how am I doing? As am sure most bloggers know (except for the super organized) when I normally set my goals I hardly look back at them until maybe a week before I am due to set new ones. When I am setting goals I think I will check constantly to ensure I am on track but usually that's not the case, but, I do love when I remember to check my goals and found I have done them (some or all) I feel more happy because it was not a task that needed remembering it's something part and parcel of my life that didn't get pushed aside. I realized with my target to be debt free by December 2013 is not looking overly promising - because I had decided to make an impromptu trip, which is costing an arm and a leg but its totally worth it.


Where am I?
When I started this life changing goal I made a table using the different amazing excel budget templates around to create my budget for 2014. I created a table which contains:

• Who I owed (agency and/or company)
• Balance (original and current)
• Contact details and reference numbers
• Account (I have two accounts so needed to know which account paid what bill)
• Payment date and payment plan (agreed amount).

This table has been my constant companion and I update it religiously every month-end and its color coded. Red = not paid/missed (either my fault or theirs), Green = paid and Grey = account closed or frozen. Every time I pay off an account I grey it out and usually delete the account but other times I wait a few weeks, call the company/agency again and ensure its definitely paid off. I also have another tab on my excel spreadsheet, this is for my mobiles, rent and bloggie payments of sorts. Having this table has helped me keep my sanity because I have all the information for all my accounts in one place and I am able to see how I a progressing and what accounts I can close out before intended due date.


How am I doing?
I just finished updating my table and I am doing good, due to the impromptu journey next month everything will be tight but not too dead tight. I am happy to say I have cleared 75% of my debt and I can not wait to clear the remainder 25% in at a maximum 6 months time. As I stated earlier my December goal is still possible but life has given something much more worth while for the mean time so I am ok postponing the deadline.


This is where I am and how I am doing so far, how is your debt-free journey going so far? What changes have you made lately to help support your finance setting?

Week 32: Personal Confessions ~ Debt is no small matter part 2

So after the success of debt is no small matter part 1 I decided to update you all on my progress and plans so far. In hopes of being debt free by Christmas (new target) I decided to cancel some of the subscriptions that I have and also I have decided to rent a flat instead of renting a room in a house. I know the renting a flat on my own doesn't sound like debt solution but actually for me it is. I am not 100% comfortable destroying someone else's chicken with my African food which can take forever to cook and that can really clog up the gas bill and I don't want to increase someone else's gas bill. Renting my own place will allow me to cook more than eat out or order take away. I love eating out and ordering take care and being a social creature I eat a lot out than in so i want to move my social ness to cooking good healthy foods and inviting friends over to my place. I am no Jamie Oliver but I can roast up a few things to sate even the faint hearted.

So back to some cancellations of subscriptions. I have decided to cancel or change up the subscription type I have. 

1. Credit expert (£14.99p/m) - back in the day when I was building up my profile and racking up debt I found this site really useful in finding deals which were good for me but now it's been two months and the damn thing has not worked every single time I log on it says error and when I call (not cheap line) they say the same thing. I am done and since companies these days do their own credit checks on potential customers I think I can live without this subscription.

2. Audible.com(£12p/m) - I got introduced to audible by brutnull and gabeflowers. I decided to try it out and one long trip to Cambridge I got hooked and before I knew it I signed up. It's only <£12 but still when saving money every little helps so instead of £12 a month I have changed it up to £10 for a year which works out best for me and if it don't I will cancel.

3. Wantable.com ($50p/m)- y'all know I love my Wantable accessories sub box but I can not justify this expense anymore so July accessories are my last. 

4. Justfab (£35p/m) - I love this site I have some amazingly good shoes and bags but again I can not justify this expense so it's gat to go.

5. Glossybox (£13.25p/m) - I really loved the last two boxes but I can not justify or even keep two beauty sub boxes. Since 3/4 of the items I got I did not love highly I have included them in my giveaway hoping someone will love them more than me.

By cancelling or changing up my subscription I am saving me £100 more or less and I think I can make better use of this money than these mostly unnecessary items I have been getting. I could use that £100 for my monthly train ticket or an entire month's worth of food shopping plus leftovers. 

These are some of the ways I am trying to clear my debt and save up for the future. What are your plans?

**Dont forget to enter my 1yr Blogaversary for my blog AJD **

Week 26: Personal Confessions ~ Debt is NO small matter

Hi there! Welcome to my personal confessions week 26. This week I wanted to share with you about debt, 3/4 of the country is in debt I for one I am in debt. Debt which if I was smarter 8 years  ago I would not be in this mess and/or slowly crawling out. 

I know this issue is one which is very sensitive for most people but I was encouraged by reading a fellow bloggers attitude towards finances and marriage. So how did I find me in this hole called debt? and How am I slowly but surely coming out of it? Well sit back, relax and have your pen and paper at the ready.

1. How did I find me in debt?

Got caught in the enticing world of credit cards and the beauty of spending and not paying anything back for up to 3-6 months and free interest in that period. Obviously I was not smart because the last statement should really have had alarms ringing but it didn't I mean they say "don't pay anything in 3-6 months" and during that period it's "interest-free", come on Mrs this should have screamed bloody murder but it didn't. I was so caught up in the after glow of not paying anything there and then and returning sometime in the future.

**illusion is thinking in couple of months you will have  money that you don't have now**

To make matters I was spending more than I was earning and every time I paid it off I still went back and used it up all over again, this is a vicious cycle which can drown you before your very own eyes. 

When I left home and moved to university I literally lived on my credit cards and all the money I earned from my two jobs went to rent, bills and food sometimes the bills I couldn't even manage I was lucky my boo helped me out a lot. That didn't change the situation I had put myself in because I came to a stage were you pay off card so you don't get charged the hefty charges then use the money now on card to pay for everything from rent to food. 

2. How am I slowly getting out?

One day I sat down with my mum and had one of them long African talks that you parents give you which come out as advice but are actually WARNINGS advice, lol. After that chat, I went and wrote down every company and person I owned money (boo excluded) and wrote down how much I earn and how much I can afford to pay each after all the essential bills like rent, transport, house bills etc are taken out. 

After that I contacted each company and told them how much I could have to pay back monthly they were understanding because it was either that or nothing. I then calculated how much I owned to people I know then started paying back slowly but surely. It's been 6 months and I am half way through paying back people (almost done) and companies, it feels good to actually go to work pay bills and have money left over for me to spend on my family and myself. One major thing that I did is changed banks, removed OD facility and canceled all credit cards and/or store cards. 

So now if I don't have it I don't spend it that's my new rule no more pay later high purchase kinda situation because I am done. I am enjoying our money after everything needed is out, I can go shop and save towards our goals without feeling guilty and stained with sleepless nights. 

So that's my story and how I am dealing with debt. How do you deal with your debt and how did it come to be?