Financial Struggles

[starr18]

Hi everyone..

I am 21 years old and currently in £2205 worth of credit card debt and I am overdrawn practically every month. My credit score used to be 800 plus and in the last 6/7 months it has dramatically decreased to 642. I have a loan and 2 credit cards :(

I feel lost, I have tried extremely hard to cut down spends as much as I can but with work commutes and the general cost of living that has proven difficult (I'm sure I'm not the only one)

Please can someone help me? I have thought about asking family members but truth is I am embarrassed. I really don't know what to do. I am currently -200 and still have 20 days until payday, my loan payment comes out on the 15th.

You've recognised it's at an uncomfortable high for you right now. Look for things you can cut out or back on. It depends on what loans were for really. Was it something you really needed or just a want? If it was a necessity surely you could ask your parents for support? Could you do any extra work, overtime, or even advertised for babysitting, dog walking or gardening to gain a bit of extra money.

If you were my daughter, I’d want you to come to me and let me know.

Write down everything you spend in a month, show us or show your mum, and let’s have a look where we can help.

Finances are not shameful, you’re still learning, we are all still learning. Be open about it, and practical.