Budgeting and Paying back an O/D


#1

I went into the BNZ Shirley today, sat down with a personal banker and am now relieved to say I am on track to paying off my overdraft and paying me weekly bills from one account with only access to my pocket money account. Once overdraft is gone which should take 6 weeks max we will meet again to organize other options of debt reduction! Bit scary as incidentals, gas ect are part of my $110 weekly allowance but doable! Now I know if I need anything on top of my allowance I will need to do extra shifts or find other ways of making money. Im 49 and finally feel for the first time that I’m gaining financial control. I’m fortunate that my husband earns well and pays everything like mortgage ect so my money is my own. I work 2 part time jobs around our 9 year old and pay her piano fees and bits n peices but he covers majority of her needs to. My older children and his two are all in their 20s and earning so only occasionally they may need a hand. It wasnt like this at the beginning of our relationship as all money I earned went on my children’s needs and help with living cost ect which for years was a struggle for me. Since then n numerous relationship breakdowns between us we are now working together and hes happy to support the 3 of us. My goal is to sort my debts myself and learn to master my finances rather than money master me, finally. I’m grateful to my husband and that I dont have to struggle again and have the opportunity to be able to do this. He’s always been good with money and would clear my debt if I let him but I need to do this myself. He definitely doesn’t go without as hes a multisporter and thats not cheap by any means. He’s the consumer of the two of us. I just feel quite excited that I’ve asked for help and am heading down a track I’ve never been. Just had to share that thanks. Wish I’d done it years ago.


#2

It certainly is a great feeling to be able to manage your money and not let it manage you. Good luck with your saving and budgeting goals


#3

Thank you. Never too old to learn.


#4

This is so cool to hear, @maxinewill! All the best with your plans and don’t forget that there are lots of lovely people here who are super helpful and have some great tips and info if you need anything :slight_smile: Thanks for sharing your journey with us :blush:


#5

Hi @maxinewill Good on you - this is such a great thing to read and thanks for sharing. We have a few good reads over on www.begoodwithmoney.co.nz which might be of interest to you. A few on managing and repaying debt and this one on setting goals you can stick to.


#6

Thank you.