Internet. I am in debt.
I have to tell you because I have to make myself accountable.
Firstly though, a minor digression. Over the past couple of days, I have become lost in this lady’s blog. While I am probably considered a prolific blogger, I actually don’t read that many blogs anymore. I used to – in the heady days of Petite Anglaise and Belle Du Jour and of course Dooce – but I’m phenomenally choosy and it’s pretty rare I come across a blog whose posts I always read and whose archives I delve into on self-indulgent Thursday evenings.
Anyway, Ashley at the above blog writes very candidly about her personal development (in a non naff way – no inspirational quotes here) – her emotional development, writing, career, diet/exercise. She wrote very honestly about her debt here.
I read almost the whole thing this evening. It rather helps that she is quite a lot like me – a writer, a thinker, an angsty-music-lover,an all-or-nothing-er – and I was completely gripped. Her writing made me realise these things:
- Debt does not go away if you do nothing about it
- It is possible to live within one’s means AND THIS INCLUDES REPAYING DEBT
- If you want to change, you actually have to do the changing (now).
- It isn’t ACTUALLY fun to spend beyond what you have, and the spending always feels slightly guilty. It might be MORE fun to work towards being debt-free.
And so I have spent some of the evening while MindReader made some delicious chicken/new potato/feta concoction in the kitchen reading, stroking Benny, looking out of the window, and thinking. Ashley set out her debt as it stood (some $20,000) and made a committment to be debt free.
The thought of being debt free excites me more than I can probably express. And, while I’m not a very good long-term thinker (indeed, I read somewhere that procrastinators never are – something to do with non-procrastinators being able to see that if they get their work done it will have good long-term effects and procrastinators only being able to see the joy of spending just ten more minutes watching teenage girls apply eyeliner on YouTube), I know that being debt free will make me happier than mint green pastel nail varnish. I know. I know. I will be able to be more reckless, in a funny kind of way, with travelling, and able to save, for anything I like really. I currently can’t do that. Because I’m in debt.
So, what is the debt?
HSBC overdraft: £2,000 (interest is £30pcm)
Student loan: c£14,000 (interest is negligible) (I am not particularly aiming to pay this off. As a friend said to me today, she views her student loan repayments as more like a tax).
My purchases on MindReader’s credit card: c£500
Loan from DoctorSister and her husband: £2000
I also used to owe another £2,000 on another overdraft, but I did actually pay that off during an incredible tedious 18 months when I was hardly earning any money.
It gets worse, though. I have actually been given £5,000 three times. In my defence, not that I should be defending myself, all three were advances to live on (like a student loan, but not a loan) by my future employers, but the third was actually more of a one off payment than a maintenance grant. And I have spent it all.
I try not to be too hard on myself about this. The first two grants were when I was studying full time, and I managed to live on that £5,000 and whatever else I earnt during the University holidays, for an entire year. The final grant I made last me the three years I effectively didn’t work or was working sporadically or not being paid very much because I was housebound. But the problem was that I told myself lies, like, “I’ll just use this £200 to make up this shortfall”, etc, until it was all gone.
I’ve been paying more attention to my mind recently. Not quite in a zen meditative sense, but in being aware of my thoughts and being able to dismiss them for being false, or aggressive, or based in fear.
Most of my readers will have gleaned that I at least have a small problem with shopping, and recently I’ve noticed that, when I shop, I’m buying into the idea of a product. The idea of a bath oil that smells like the plains of Africa or will provide dreamless sleep. Not the reality – yet another nice-smelling bath product. I know this isn’t rocket science.
I have earnt an alarming amount since September last year, and I am just looking at my bank statement for the past month as I type, and I have written below all my purchases which weren’t necessary (all food on this list is unnecessary as MindReader and I pay for enough food on the joint account. Anything I buy in Tesco is likely to be nail varnish, a book or a croissant as I forgot breakfast before work).
Pret a Manger: £7
Starbucks: £4.95
Brunch: £7.45
Tesco: £5
Dinner out: £13
Overdraft interest: £30
Sainsbury’s: £5.04
Waitrose: £2
iTunes: 79p
Takeaway: £16
Tesco: £19
House Tree, candles, storage boxes: £25
Drinks: £6
Curry out: £19
Withdrawn cash which went on nothing useful that I can work out: £80
= £240.23
I also managed to save £130 this month. So in total, that’s £340 of debt that I could have paid off (minus the £30 overdraft interest because I can’t avoid paying them right now). I wouldn’t have even had to go without. The above list is just things. Not commuting or the odd coffee or petrol or food. Just – nail polishes. And really extravagant meals out. And the Hunger Games books. And a house tree.
Okay, so now that I’m thoroughly depressed I have decided to change. My brain says “but I don’t want to spend no money!” but my overdraft is never going to pay itself off. If I want to get rid of it and be on my way to being debt free, I have to pay it off. I have to do the thing I don’t want to do to get the result I want. So that’s what I’ve got to do. Now.
So I thought that if I wrote here about it I would be accountable. I am kind of an all-or-nothing person, but I also know that this won’t work if I never do anything. I did, however, used to justify purchases by saying “life’s too short!” or, worse, “I’ve been ill and I deserve things.” Regardless, I am allowed one holiday (a small one), because I do deserve that and I will set a small budget per month which I can either fritter away on after-work drinks or coffees in the week, or save up and buy something big.
But I should be able to pay off at least £270 of debt every month. Minus £500 for a holiday and I make this overdraft paid off in January 2013.
And I have to. I am in debt. I want so much for my pay to go in and for my balance to reflect what my wage is, not what £2000 minus my wage is. I will not go shopping, because I am in debt.
Internet, I am in debt, and I am going to get out of it.
If 2011 was the year of finally figuring things out and giving my illness and various sleep problems the finger, 2012 will be the year of Sorting My Shit Out.