For quite a few years now, I have had a relatively high income and good savings. I have become used to doing more or less what I want, when I want. I have never been one to go off on expensive holidays though, so I am talking more about things like buying clothes, popping over to somewhere nice on the continent, having an expensive lunch out etc.
Well, I cut it up now!
However, I took the autumn 2006 off work and basically spent my savings! I also miscalculated my income and outgoings and accumulated about £6500 on my Visa card. Oh, stupid me!

I haven’t got the slightest interest in money management and wasn’t paying attention to my financial situation.. That is why this stupid mistake happened. It is not a disaster, but it is certainly not a good thing either. I wish I didn’t have the responsibility of money management. But since I am single I had really better do it and do it right!
So easy to overspend without realising!
So I really need to pay back that Visa debt ASAP! It’s is ridiculous to have a debt like that. Normally I always pay the full balance on the credit card using ‘direct debit’.

(At the time it seemed like I really needed to take some time off. I don’t know what got into me. I was sick from the fibroids, weak from anemia and hated my job with a vengeance… ) As a result I am now stuck in London though, until I have paid back the £6k!
These are great for putting in a jar
Actually, probably I shouldn’t have taken a permanent job when I started working again after New Year. I should have taken a contractor job which pays twice as much as a permanent job. At the current rate, it’ll be 4-5 months or so until I have paid back the debt. During this period I won’t be able to do anything expensive. No designer clothes, no trips outside of Europe. No buying any other expensive things.

As a contractor I could pay it back the debt in half that time. It’s insane how much money you make as a contractor in IT here in London (at least as a project manager). It is slightly more difficult to get a contractor job than a permanent one, but not much. Perhaps I should look for contractor jobs on the side? Not sure. My CV has too many job changes recently though, so I should probably stay where I am. But I really don’t know actually.
Need more of this!
Another option would be to have some kind of side income. My only skills that could potentially make money for me is that I am very good technically (all-round techie) and that I am good at sewing.

Sewing, being a traditional women’s job and a job for immigrants, simply isn’t paid enough to make it worth doing right now. That leaves only IT… It would have to be something that could be done outside of office hours. I can’t think of anything right now, unless this blog starts getting circa 25,000 visitors a day who all click on the Google ads!

Oh well, mark my words, five months from now at the very most, I will be debt free and starting up my savings account again. Can’t believe how idiotic I was miscalculating my outgoings!

Another thing I have to sort out is my pension situation. I have just started my third pension fund. I’d like to consolidate them into one (probably the one I have in my new job, a Fidelity fund). I have no idea how to go about it though, and how much they’d charge me for leaving the other funds.

Is it worth setting something up in Microsoft Money? Is it really worth the time that it will take? If you have any good saving or money related tips, please let me know!

Budget Girl,

Cordelia