Life in a mess advice please

[Shebagemma]

Hi - my DH and I have got ourselves into a financial mess, there is no excuse as I earn very very good money. We do not lead an extravagant life but we do not manage our money well, so it slips through our hands and have had a couple of big unforeseen payouts. I have been off sick for 2 months, due to stress and this is not helping.

We owe around £40k

COntact those you owe money to. Arrange a repayment plan. Be honest with them and yourselves. Once you get this in place you will be in control again and things will be less stressful.

Thanks Bombastic

Have a look on Martin Lewis's moneysavingexpert website, it's got lots of advice and budget planning. Like Bombastic says, as soon as you start taking control you will feel better. Good luck x

Thanks all. Have looked at martins money website and have started a spreadsheet of fixed outgoings

Thanks for your support and advice x

If, in the process of making your spreadsheet, you find that your debts are in excess of what you can reasonably afford to pay do consider talking to one of the free debt advisory services such as CAB, National Debtline or CCCS.

In the meantime, I always recommend to people the free download of Microsoft Money (it's on the Microsoft download site under 'Money Deluxe Sunset Edition') The account management, budget and cashflow features make it a very good tool for debt management.