Debt support thread #2

[Nerfmother]

Here we are! Can't be bothered to think of an exciting title, sorry

I've said this before but for the benefit of newcomers...I've found the best way to approach my debt is to budget for everything and pay any excess straight to debt on payday, that way I just have to manage on what I have left,end of story. And it works...since starting this approach instead of paying over what I had left at end if month I've kept within budget and not overspent, or spent money on anything Id not budgeted for...having unallocated money sat in an account will just be spent. So give every penny a destination...

Thank you talkin and badvoc. Very nice responses. I'm so stunned at how much has just been spent. Badvoc - definitely worth it, really has made me face up to things.
Mum, having looked half was probably unavoidable but half definitely should have been avoided. So I am doing it your way from next payday.

Nerf...I decided to check out what I have spent on amazon this month - and by the end of the month it will be £100!!
Am horrified!
Daren't look at e bay!
:(

Blimey badvoc it's easily done isn't it. At least now I know we obviously have it I have to allocate it at the start. I am sooo sick if all this .

Me too :(
I could understand it if we spent loads on frivolous stuff and gin :) but we really don't.
Like e bay - I by the kids second hand clothes when I can and for myself (I like boden but can't afford the rrp!!)
I need to cut my cloth accordingly but hard to see what we can cut back on ATM :(

I haven't been on this thread for a couple of weeks but I've had a couple of really good weeks. I've been ebaying loads (approx 1.2k at the moment). I feel like getting rid of all the 'stuff' I'd bought in case something broke has cleansed my mind. I'm also worrying less about DP finding all my stuff that's hidden around. I have been shopping as I run a guide group and don't have time to go home in between work and guides so pop to the shopping centre to kill time. I've been able to see things I like and not buy them as I know I don't need them - I used to get really anxious if there was something I wanted but couldn't have. My counsellor believed that this was how my wanting to be loved by my father had shown itself. While I disagreed with most of what she said I kind of think she was right on that point.

My aim was to break my shopping addiction before I start my new job next month when my pay rise will mean I can make a real dent in my debt. I think I'm well on the way. I bought some books for my new job this week but they are essential, couldn't get second hand as they have only just been published.

I have one or tow things to e bay later on too.

I'm feeling a little glum at the moment. I'm really lucky as I don't have any significant debt (£7k on student loan, which I discount as I'm doing PAYE on it), but I DO tend to dip into savings every month to supplement my income, which is why I've been on this thread.

I took the popular advice here and broke down all my outgoings into little envelopes. I then created more for the annual bills like MOT and insurances etc and am saving for them. And now I don't have any disposable income at all - it's all been earmarked for stuff.

I know that I've made some good progress in getting my finances straight, but it's a bit depressing!

I unsubscribed from all the marketing blurb emails that come through, but better still I deregistered my card from Apple ac, Amazon and closed Ebay/Paypal acs...honestly don't miss it.

It is great progress Silk, don't underestimate that. By budgeting properly you can see how important it is to live within your means. Have you double checked all your budget lines to see if there is anything you can do without, or reduce the monthly amount? Insurances, gym, food budget, mobile phone, anything? Is there any scope to increase your income in any way? Extra hours, part-time work, even selling stuff no longer needed?

For me, the only thing that had any scope to change was the food budget...I've got that down from 150-175pw (mortified!) to between 40-50pw by meal planning, packed lunches, and dropping to basic/value brand.

Silk felt exactly the same when I first started budgeting, and DH even more so, but over time we've found areas we can shave off a bit more here and there and have enough spare for the things we really want to do. We also sat down and (and this was really helpful, weirdly) and discussed the friends we have who seem to have a better lifestyle than us (not significantly, but able to afford the odd holiday/takeaway/lunch out/new clothes). We realised that literally all of them either have two professional salaries (we have one, plus my little bit of self employed income), parents who hand out money or probable/definite credit card debt (based on what they've said to us about money and their finances). So actually it's not unreasonable that we can't keep up with them and need to cut our cloth slightly differently. My lightbulb moment came with food shopping a few weeks ago when I was moaning that I can't get it down to a sensible level and really looked at what I was buying. I love a good mozarella/avocado/Parma ham/sundried tomato salad, so was buying those ingredients every week but actually even in Lidl they add a fiver or more to my shop. I had a real 'actually, I really like that and I deserve it, but right now I can't afford it. End of.' realisation.

Afterhought it sounds like you're doing brilliantly, well done

Badvoc you've identified your weaknesses - amazon and eBay. I would delete your card details from both and only go on them if you need something that has been budgeted for - eg kids clothes. I used to buy a lot of kids and my clothes etc eBay, but actually I realised that I was enjoying constantly searching for new bargains and buying everything that was good value. It actually makes more sense for me to buy new and only buy twice a year or so - we take a real look at the DC's wardrobes in spring and autumn and make a list of what they need and wait for a good Boden code and order it. For me, I have a one-item-a-month limit (excluding undies and really cheap basic vests etc), so if I know I need a new jacket, I don't go out and buy new shoes. Sometimes it's an expensive item, sometimes it's a cheap one, but it averages out and I am, over the first three months of this year, on budget. It has also really made me choose which item I most want each month and build up to buying it and enjoying it.

Oh, and frugal win yesterday - DC1 had a swimming gala but we took sausage sandwiches with us for dinner (lidl sausages = yum!), plus hula hoops and lidl choc bars. Probably cost about £6 total instead of £10 for the DCs plus inevitable £20 takeaway for DH and me when we got home knackered later, and still felt like a treat as we had crisps and chocolate.

Just hopping over to say hello and keep it up. I used to have credit card debt, a huge overdraft, a car on finance and a bank loan...not pretty. Snowballing WORKS. We've been debt free for about 4 years now (apart from the mortgage which we're working hard on overpaying) and life is so much easier and less stressful. We both used to work full time but now that we're debt free and used to living frugally we can afford for me to work part time and be a SAHM. (Our own goal-everyone has different ones of course.)

So keep going. It is so worth it.

Hello all! 3 days til I get paid, at current reckoning CC1 will be paid off in full on 25 March

DH gets paid on 31st, when (if he gets all the overtime and freelance hours he is owed) he might even be able to pay off and close CC2! I can hardly wait. He'll certainly be able to pay off a huge chunk of it anyway even if he can't close it. Then next month (April 25th) I can pay the rest of it off.

The other CCs have much larger balances but it is great to feel like we are getting somewhere at last.

Spendy day today as had hair coloured, too scared to do it myself as have had real disasters.

Frugal win: we have scored a free greenhouse for the garden/allotment (depending on what it is like, DH out getting it right now!!) and we will be putting our tomatoes, chillies and salad in there, so hopefully saving a lot in harvest time!

Hi everybody, what advice can you offer for catalogue debt. I don't have any cc's but have accounts with next, littlewoods and studio. struggling to pay minimum amount and studio interest is very high.

Talkin I get it delivered after doing a food plan; it's not just random buys. Since doing MSE a few years ago, I've been very cautious with planning and food shop. The delivery came from working out we got a better range of choice (more value lines and offers) from a supermarket further away than relying on local shops. However, since I've changed jobs I'm next to an Aldi that I never knew was there - this means we can switch over. The problem was, because I know Aldi is cheaper, I was getting bits from there, but then, as I was bound into delivery plan and felt the need to use it, getting other bits from that. As you say, it is a trap! I have now cancelled the delivery so we'll be Aldi all the way!

One habit I do need to break is over-stocking. I always buy a bit more and never have empty cupboards. I'm going to aim this week for a minimum shop based on using up supplies.

mumtob

1. Stop spending on them completely.

1a. get a written budget sorted and try to cut down on any non-essential spends, cut down on food spend etc.

1. list the debts smallest to largest.

1. pay minimum on them all, and any other money you have off the smallest debt, until it is gone. Then pay all you have off the next smallest debt.

1. sell things on facebook, ebay, carboot to get extra money and pay it all off the debt.

1. could you pick up extra income babysitting/cleaning/dog walking etc to get extra money to pay off debt?

MissAnnersley great news on the credit card paying off and the greenhouse! I was so tempted to buy one of those plastic gzip up greenhouses in Lidl the other day, but I know I just won't get the use from it this year while wrangling three children for the first time, so it will have to wait.

We have had a spendy 24 hours on hair - mine was cut yesterday and DH and the DCs all had haircuts this morning. I am too scared to even touch the DCs, never mind my own! We all have poke straight hair so bad cutting looks particularly scruffy and scarecrow-esque. Also had to buy two new pairs of shoes for the DCs. The children's clothes part of the budget is horribly over for this month after purchasing baby clothes (I thought we had more and suddenly realised we had NONE!) and aforementioned shoes.

After my post this morning I've not had a good day :( I know it is going to happen from time to time, beating addiction isn't easy. I've come home though and put some stuff on ebay to hopefully cover it. Feel so annoyed at myself. I spent 'actual money' rather than putting in on a credit card / overdraft but still feel so bad.

afterthought Could you take some things back? Sorry, don't know the nature of your addiction or whether this will be possible. Good luck with ebay.

Sympathy afterthought; it is very, very hard. Baby steps - each day at a time. Put this one behind you and start again.

Well as themoneyone says, small steps; better real money and not a cc. And you've realised. It's like a diet - one blow out doesn't mean you cant do it.
I've come home to a final electricity bill of 120 for one month. No idea how this can be right - kids at school, us at work. I've emailed Scottish Power to ask how, and also to say stop ringing and asking us to come back, not a chance in hell of that happening. One month! Gas was a similar final amount!

Possibly...that's good advice. How do I do that?
I use amazon for all sorts...books, kindle books, DVDs, household stuff, even medicine at times...it's been very handy over the years, but if did cancel my prime subscription...they were putting it up to £79!!
E bay I can live without Tbh...I do sell the odd thing but it's so expensive now it's not really worth it anymore.

Hope no-one minds me joining.I have been lurking on this thread a long time but haven't joined before now as no massive debts-other than the mortgage-have a couple of things on 0% buy now pay later,and live every month on my credit cards and clear in full on pay day.However, by the end of the month always seem to have gone over budget and find myself with bare cupboards and 'coasting' when driving to save petrol!Always feels like I'm constantly waiting for pay day so I can slept some debt and save some more £!Also trying to save for a holiday next year and various things keep going wrong with the house-2 roof leaks,bedroom and living room needing decorating,downstairs wall needing air bricks and damp-proofing.Plus a few other unavoidable costs - fridge and freezer broke so have to replace them and car tax needed doing yesterday too.Still got a wedding next month,mot and service in may and hotel and spending money for our week away in may.
Had a frugal morning - free book for Ds with world book day voucher, birthday present for dd's friend for 99p (as had £5 shop voucher) and free Mother's Day card with O2 priorit moments oh the shame made up for it by spending £109.98 on a new freezer this afternoon though!Dh was lusting over the big American fridge freezers but I would never spend that much on one never mind he fact out kitchen is the size of a postage stamp and designed for under counter fridge and freezer

Apologies for typos!