Can we have a support thread for people who are massively in debt?

[Nerfmother]

Because you can't talk about it in real life? We owe 44k, reduced from 60k in a year. Not including mortgage.
It's so depressing.
Dh is determined to pay it off and so bankruptcy or plans isn't an option. I do think its doable, just hard hard hard.

Dorito - I feel the same - have avoided it all day

I have made £7.80 more towards my TV though, by selling a book on Amazon plus something on the FB selling group! And have spent nothing today

I got a HUGE coffee delivery today - I I noticed the other day Tassimo had my fave coffee on offer for £3 a pack and combined with a £10 discount code I found it came to £2.21 a pack (£4.69 in Tescos) but I had to buy 12 to get free shipping and use the code - so I have enough coffee for 3 months at least My groceries budget has taken the hit though, only have £30 until payday but do have a fairly full freezer.

Also, weirdly, I "found" £178, kind of. I was putting all my debt accounts into YNAB (which I hadn't been brave enough to do before) and so I got my latest statements out to check my figures on my spreadsheet are correct. On my biggest debt I only get a 6monthly statement - it is defaulted anyway so on 0% - and the figures seemed to work out 178 different (in my favour). £178 is my monthly payment to them. Ended up ringing to check and yes, I have input the figures wrong right at the start of my spreadsheet (18 months ago) and I owe them less than I thought

It's a drop in the ocean to the total amount I owe, but it made me happy!

ishesingle that is great news! That must have been a great feeling for you.

I'm still rejigging budget/envelopes but am a lot more careful about what I'm spending.

I'm a teacher too! Seems to be a lot on this thread! I teach reception so don't think I can earn extra money doing any exam marking?!

I'm also a teacher, Year 1! Didn't want to say as it sounded too suspicious being so many but it almost seems surreal now!

What is it with all you teachers lol not one myself but DP is! Happy tonight as just found old iPod which I'm going to put on FB for sale

My dh is one too!

Burma, well done on the credit card transfer. We've paid 500 off dhs cc and it has stayed off - only 5500 on that one to go!
So many positive posts recently, it's really helpful to read through. Sorry for not replying individually to people , I do read everything and it's very useful to hear the updates.
I need to get back in track, attitude wise. I find I'm either really up and positive or very low and easily depressed.
Horrible incident yesterday (not financial) I'm trying to process so it's kind of taking all my thinking power. At least I'm not buying stuff!

Nerf sorry you have had an upsetting time. Financial worries do seem to take over sometimes don't they. We've certainly felt a lot better since we managed our DMP ourselves - much more in control.
It's Abbylou by the way, I have had a name change for various reasons.

Hi, hope name change is for positive reasons? I've just realised someone I know is on Facebook and mumsnet and it's made me much warier of what I post!
With finances, you can't just make it better with money can you? So you can't just get your hair cut/ go out for a meal/ replace a broken thing etc.
I'll get over it; I need to talk it through with a friend but can't get hold of her tonight. She's fab - totally gets the not able to brush it off bits of live.

Nerf you are right. it is those little things that really get to me. I can live without flash cars, big holidays and a fancy house but every now and then I would love to get a haircut/colour, buy a new top etc Sometimes the little things feel worse. I think because we both work so damn hard it feels wron that we can't do those things.
However, it's our fault we've got the debt and there is no-one lese to blame so we have to suck it up and get on with it. I can't spend my whole life reretting money I have spent in the past.
Namechange is similar to what you said. I have recently heard a couple of people I know talking about Mumsnet and I don't want to be outed.

I have just read all the thread. It's depressing and inspiring in one go.

Fantastic news Burma! Yay, well done :)

Sorry to hear you're having a rough time Nerfmother

I think this thread highlights that you lovely teachers work very hard for rubbish pay

Hello rubbish.
Yup, sums it up.
Puffy - I'm not a teacher so have no excuse

Great news Burma...good job!

Nerf...big hugs to you x

DP is threatening to do some marking this year but in all honesty Id prefer he didn't...it does nothing for household morale as he's just miserable the whole time!

No interest on iPod yet, maybe priced it too high...keeping an eye out too for a 2nd freezer. Id like to prep more meals and freeze than I do at the moment ...

Morning all. Hoping to have a cheap day again today. The sun is shining aain so it's off to the park with scooters before the in-laws come round. To be honest I hate gardening but they are really into it and it needs doing. I'm alright once I get going!

Burma - I'm so pleased about your balance transfer! You are better off and in less debt already :-)

Dorito - sorry you're feeling poorly. Just in time to go back to work eh? I actually felt a bit throaty this morning but suspect it is wine related.

Should be a low spend day here. Taking the children swimming but going in the car and coming home for lunch.

I'm definitely going to have to have to do marking today - sigh ...

Nice one Burma. Now the trick is to set a payment each month for as much as you can and lock the old one down. I know it sounds patronising but I have had about ten balance transfers and I have never, ever managed to do that Not until now at any rate!

Hope you are ok Nerf.

My DH can join the "teacher + crap with money" club too!

Are all us teachers crap with money?

I have a day out with the kids today paid for at Christmas via Groupon - it's a shooting day! At least the weather is nice

Just realised I have 3 days on trips and 2 days training in the first 7 working days of term - result! Better get setting cover work..

My theory is we do a tough job so feel we need lots of rewards for it!

I'm not a teacher and I'm crap with money !

Nerf I do get what you mean about the money and little things making it better. I get angry with myself and try and think of all the poor people in Syria or North Korea but somehow you still feel sorry for yourself when you desperately want to buy some nice clothes or just book a weekend away without thinking about it - then you feel guilty because you know how lucky you are and so it goes on.

Presumably locking down the old card means not spending on it? I've sent it to a friend's house and she is under strict instructions to only let me have it for emergencies. I'm currently paying £350 off per month and the interest is around £100. For a long time we were only paying the minimum therefore only the interest which is clearly Not Good. To not be paying any interest at all will be fantastic! My children wanted to go on a school trip and that will easily pay for it which is such a nice thought.

I can totally understand what TalkinPeace meant about the wonder of having this awful weight lifted when the debt is gone - can only imagine at the moment but I really do spend most of my waking hours thinking about it. As someone else said up thread, how can it take such a short time to get into debt but such a long time to work your way out of it?

No spend day here hopefully too. Had to have a Tesco order delivered last night as couldn't get to Aldi, I was shocked at how little I got for my £70. I loathe going to Aldi with a passion but boy it is helping me to save money as it is so cheap.

Morning all,on phone so can't pick up individual updates...but suffice to say I think we are all marvellous!!

Need to buy pitta bread today but that should be all unless any bargains going! Have sold iPod for 50 so hopefully get that later today and it will go to CC1. Also gas/elec signed up for fixed price for 2 years, 73 down to 70 per month...woohoo!

Afternoon all,
I've been working on a set of client accounts and they have horrific debt problems due to the recession.
I had a brainwave about credit cards.
All of you who are chipping away at the debt, but need to use the cards sometimes ....

Set up the standing order as per my spreadsheets
BUT
Make the amount be 5% or 3% or whatever your percentage is
of your credit limit
that way your monthly payments will ALWAYS keep you from getting penalty charges
it will ALWAYS be more than the minimum you actually need
and if you can spend less than that amount each month, you will chip away at the balance

eg
on a £4500 limit card with £3000 on it and a minimum pay of 5%
if you set the amount to be £225 a month
at the current balance you'll be overpaying £75 a month
and even if you need to up the balance to £3500
you are still overpaying £50 a month
IYSWIM

Well we've actually had a lovely day out in the garden enjoying the sunshine. Dh and his dad laid all out turf and the kids helped mil with some planting and gardening. I was in and out doing a bit inside and a bit outside. I got my cakes from yesterday iced and have also made some bread rolls using my breadmaker.
We've had a couple of friends visitng unexpectedly so all the cakes have gone but at least we had something to offer them!!
Now we are all relaxing watching the rugby. We have a wedding reception to go to tonight so soon I will be going for a soak in the bath, doing my nails etc but I have the usual rigmarole with dd about what she is going to wear!!

Hello all. Had to buy loads of stuff - new baby present (v close family) dh present (50) from dcs, etc but done it all in one go so I don't have to drip shop anymore.
Still dh hasn't touched his cc and the overdraft is still at 300 (ie free) rather than chargeable as it was at the start of the month.

Have sorted loads of stuff to sell but our Facebook page is down and I'm a bit lost as to where to go.