Debt Number 3 : For those who feel they are drowning and want a way out

[TalkinPeace]

This thread follows on from Nerf's incredibly useful
FIRST www.mumsnet.com/Talk/legal_money_matters/1969188-Can-we-have-a-support-thread-for-people-who-are-massively-in-debt
and then
SECOND
www.mumsnet.com/Talk/legal_money_matters/2011878-Debt-support-thread-2?
threads about realising you are in and supporting each other out of debt.

I am not in debt, any more.
Here is a link to some spreadsheets that might help
www.mumsnet.com/Talk/legal_money_matters/1987219-SPREADSHEETS-for-Debt-Control-Budgeting-Mortgages-etc

and lots of people use this
YouNeedABudget

The important thing to remember is

• yesterday is as past as the Crimean War

( we will not judge how you got into debt, but we will support you on the way out )

• this is an anonymous forum

( we will not tell your employer, family or friends of the reality of your numbers )

• this thread is about supporting people through the huge mindset changes needed to come out of debt

( feel free to offload all of the feelings that drive you to want to spend, that make it hard to save and that generally make life crap at times )

Join in, bare your soul and come out the other end.
Its worth it.
You are worth it.

Marking my place

Marking place!

Lovely intro TiP, thanks for starting this.

joining too

Phew, I have found the new thread! I'd fallen off the old one and couldn't find it. Can I join again?

I posted a while ago about our problems. Dh was out of work for 10 months and we have lots of debt from previous unemployments.

Dh has just been offered a job and I'm starting to plan our finances- a little early I know, he hasn't started yet and he won't get paid til end of May.

I've been through all our expenses, estimating what I think we'll need for food and fuel and I think we'll have about £225 left over.

It's going to be a long slow haul. Our first priority will be dhs car, that has been making strange noises for months. Then I need to pay off our overdraft, as they have just doubled the charges. After that I'm going to try to pay the other debts off, one by one. We also have mortgage arrears to pay off

It seems impossible, but the alternative is selling the house, which we have considered and we have put it up for sale, but we won't be able to buy another due to our terrible credit rating, so would be in rented for the rest of our lives.

Sorry for rambling on. Can anyone advise the best way to plan,? I intend to put money away at the beginning of each month for all our outgoings. We have three bank accounts to juggle between, I don't want to open more.

We already shop in aldi, with top ups from Sainsburys.

I've seen YNAB mentioned, but don't want to pay for something at present. Can I just set up a spreadsheet?

Thanks

Kazza,welcome back!

Thanks I didn't feel I had much to contribute before with no income to start paying debt off. Hopefully now we can make a start soon.

kazza I budget using different bank accounts - I opened a new current account and pay my food/petrol budget into that at the start of the month. There is no OD on it, so have to be careful. I then have different savings accounts for various 'envelopes' like clothes, presents, car money. By enveloping money - dividing it up for different things - it certainly makes you more aware of what you spend.

Or you could use cash and literally envelope!

Kinky, do you have the savings accounts with the same bank as your current so you can easily transfer money? I can't face opening new accounts.

I do have a couple with my current one and then a couple of others - I opened all accounts over the internet as I don't have the chance to go to banks. I got current account open online too.

Thanks Kinky, I'll look into doing that.

Kazza !
TIP - I love your intro. You are official best debt thread starter. I come second. ??

Hi Nerf!

Kazza!
The money one!
all here again

Nerf
Thread starting is rather an art because I also post on the 5:2 board and the main thread there is on numbe 43!!!

kazza
download my budget spreadsheet from the OP : it has a weekly option so you can track everything

glad y'all like

Thanks, TiP, is the spreadsheet in the original thread? Is it easy to find?

Love the way you closed down the last thread too, talkinpeace

kazza, in the OP is the link to the thread with all my spreadsheets ... and more if anybody needs

puffy
its an interesting thing I've noticed

losing weight and losing debt are very similar
they both involve a HUGE change in mindset and acceptance that past norms were not good
and learning to tell family members uncomfortable truths

and HEY in the long run who does not want to be lean and debt free !

Thanks TiP

Just checking it. Great thread TiP!

Thanks for the new thread TiP.
April has been a month of big spends as we knew it would be. Apart from those big spends we've continued to be disciplined, we both have additional money coming in this month and next so am aiming to get rid of another chunk of debt.