Financial Crisis

Cause you can guarantee that a financial crisis will swiftly follow any other kind of disaster, right?

It is, of course, all completely my own fault.

Since I left work almost 14 months ago I’ve never really moved on from the financial mindset of being someone with my own money in the bank. And the last month has seen some slightly, er, excessive spending.

So yesterday, while I was indulging in some (more) therapeutic online shopping, my card finally stopped working.

I had a feeling I might have reached my limits, but it wasn’t until I logged in this morning that I discovered the damage.

Not only had I reached my overdraft limit (a whopping £2k), but the bank had kindly extended it for me because I was still spending money and they decided that my credit record was good enough to honour all the payments that were going out. In one way this is good, because I didn’t miss a direct debit payment, but in other ways NOT so good, given that my overdraft is beginning to look like a black hole that will never, ever be filled, and is now closer to £2500 (gulp).

Anyway, after a LONG conversation, and promises from me to be better behaved, they agreed to waive £150 of charges (jeez!).

I didn’t mention that I’m now a stay at home mum, instead of a handsomely remunerated programmer, and not likely to be earning a great deal of money in the coming months, or that the healthy days of my current account are temporarily resigned to the history books.

But, for now they are happy, and I have a new project (always good, right?).

I’ve known for ages that I needed to budget, but I think I was just spending like this because I wanted to force a situation that I couldn’t ignore (does that make sense?).

There’s always a kind of comfort in hitting the bottom. You know you have to take action. You know you have to do something.

I’ll be keeping careful track of my expenditure – I may post weekly or monthly accounts. These will be boring as hell, so don’t bother reading them – they are here to make myself accountable.

And I’m also gonna have to ebay some stuff to try and recover some ground.

There is four years worth of baby stuff bursting out of the loft… I’ve been wondering how much longer I can actually keep saving everything baby-related before having to accept that we don’t have room for an entire childhood’s worth of clothes, books, toys and other paraphernalia.

It’s all good though. I need to sort out money, and I need to stop hoarding things so obsessively. And I need to be more frugal with our groceries and find more free activities to do with the boys (especially now the weather is improving), so all in all, it’s probably a blessing.

Just another one of those things that happens to come along at just the right time.

And now I’m off to the newsagent to cash in £16 worth of winning scratch-cards, because after 6 months of lying around they are suddenly worth a lot more than they were to begin with 🙂

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