A thread for people trying to pay off debt?

[moneyworries8]

Would there be any interest in this?

I'll start us off. I'm 30, a SAHM with 2DC.
Our debts are:

£4,000 loan that we've been paying off for 6 months.
£2,300 on a credit card

The debt is manageable but I've had the realisation that if something doesn't change, these figures are going to get bigger and bigger. I know it's a hard time of year to start but I don't believe in "waiting until the new year!"

We could post on here for advice/support as well as sharing our successes (and failures, but hopefully there won't be many of those) with each other. I feel like I need some people to help keep me on track.

So, is anyone interested?

I'm finding this month tricky. It was all going well until I didn't get paid last week. Instead of getting paid for 6days I got paid for one day and was taxed at 40% so instead of €400 (estimate) I received €90. There's nothing I can do to sort it, two government departments are talking to each other to attempt to solve the issue. But meanwhile, I have €3 in one bank account and €27 and €35 in the others. Not great.
Plus, the baby needs shoes and a car seat and the car is overdue the mot so that's going to be expensive.
I feel like I always nearly make it every month until something happens. I suppose that's what's meant by living pay check to pay check.

Apologies for the moan.

On the bright side we have food in the house and BIL has invited us to stay Fri night so that's dinner and breakfast at least in his house and we can turn off the heat and save oil. (Snow here, so heat is on constant.)

Well done Titsalina on the catalogue and msdebt, nice to see a smaller number than you thought!

That sounds tough BonBon I know this doesn't help you right now but hopefully by being part of this group, we will be able to dig ourselves out of the holes we are in and can look forward to the future rather than having the constant worry or financial things cropping up. I hope you get your money ASAP. Fingers crossed they resolve it quickly for you.

For various reasons, my DH has been paid a little extra and so were hoping to have the credit card debt down to 900 by the end of the month. It was at £2300 when I started the thread so I'm really pleased. Only thing is, my driving lessons (intensive course) is booked in for March which will cost £1,000 so I'm trying to pay off as much as possible before we're hit with that! Why does learning to drive have to be so expensive 😩

Bon Bon, that must have been so disappointing receiving so much less than you were expecting. I hope they sort it out swiftly for you.

Well done Money, gosh from 2,300 to less than 1000 is incredible. It sounds so much better to talk in hundreds not thousands. I queried why driving lessons were so expensive to a driving instructor and they said mainly because the cost of petrol had risen so considerably.

Thanks ta1kinpeace :) I'll look at the new card this weekend and set up a standing order.

I found a fiver in my coat pocket today that I didn't know I had, that never happens! (And when it does why isn't it a twenty haha?!) So I've put it away with the intention of banking it with the cash MIL owes me and taking it off the little loan.

That's a great achievement moneyworries8, down to three figures is a huge step!

Bonbon my DH had a similar problem last year, they'd mucked his codes up but they sorted it pretty sharpish. Keeping my fingers crossed they sort it quickly for you :)

Oh, bonbon that's rubbish luck. Hope it's sorted by Monday.

For baby shoes, you could look Facebook selling sites locally? I have sold barely worn kids shoes for just a few quid lots of times.

I know some people can be a bit hesitant about second hand shoes but in my experience it's fine. In fact I know keep all my dc shoes if they are in good condition still, it's saved me a fortune in plimsolls and wellies alone!

Thanks for the support everyone I'm paid fortnightly by the government. If they mess up it's tough luck, wait for the next paycheck and see what happens. Shocking attitude. But hopefully I'll be rich next week when I get last week's pay and next weeks pay. Fingers crossed anyway!

whirlwind thanks for the tip rw shoes

Hi all

I'm looking for way to further reduce outgoings this month.

Is Aldi really that much cheaper for food shopping than Morrisons?
And can you get a full general shop there (standard family stuff including fresh veg and fruit) or do you need to top up elsewhere for some things?

The Aldi near me is not so easy to get to and I wondered if it was really worth the extra effort.

Thoughts anyone (or other top tips for frugality)?

Feeling positive
Made some progress with my debts
Paying 2 off already
Moving in the right direction

It was so scary and overwhelming just starting
But now I'm in full flow.
Working out and re working out budgets
Saving, planning, paying things off

It may be too little too late and I may still need a debt relief order or even to claim bankruptcy but I'm moving in the right direction which is freeing

Person A and person B have separate bank accounts with own wages paid in. Set up 3rd bank joint account for all set outgoings so all joint household bills like rent/mortgage gas electric etc, e.g. my out going bills account comes too £1300 each month, so I pay in half each month and so does my husband so as soon as we're paid. I then draw out of my account £200 cash for the week to cover travel, food shopping, Petrol, I know how much I've got cos it's in my purse... the key is not to use any type of cards for any spending except one weekly draw out to cover the next week.

Bobinks
Yes Aldi is well worth the trip, my son prefers Aldi food to M and S.
I have saved a fortune by going there as you get what you need and all the basics ingredients to make proper meals. The only thing I go to sains for is Bisto gravy and walkers crisps (fussy son) I fully recommend their ready meal of veg lasagne (for two) and also chicken and chorizo paella (for two) their basics milk chocolate tastes like galaxy and it's 30p

You'll save loads bobinks, I find their fresh stuff goes off a little quicker than elsewhere but is still delicious. Lunch stuff always has good dates, the sliced chicken is really nice. Own branded cereals taste exactly the same but are a fraction of the price and frozen equally as good.
Also their German beer is very tasty!

I admit I loathe Aldi
Lidl on the other hand I adore

The main way to save money in ANY supermarket is to buy the least processed stuff you can
so flour and years rather than bread mix
bags of veg rather than pre prepared
tomatoes and herbs rather than branded sauces
etc etc

Thanks for comments - I will give Aldi a go this month and see what my food bill looks like. We don't have a Lidl so can't compare them .

Can I join?
2800 0%credit card
£365 asda card (paying off next month)
£1500 cap 1 credit card
£1350 overdraft
£560 Amazon account (paying off next month)

I'm snowballing debts. I just paid off another credit card this month. Feel great. I'm then paying off two of my other accounts next pay day and then will be working on the next credit card £500 a month while the other one on 0%. I only realised the other day how much money I have been wasting. New outfits for nights out constantly. Always eating out, buying work lunches etc. I'm being really frugal. I've just paid back a 20k loan to my parents over the last 4 years for my new house. This made me realise that i can easily pay this debt off. I want it gone asap. I've always been ok carrying debt but I want it gone and want to build up savings.

300 off credit card. Have signed up for overtime which will get paid July and August will report in each month. Still hoping to get rid in 2019.

Sounds like you have made huge progress diamond

Thank you. Yes, getting there 🤗 Any tips appreciated.

If the weather was warmer I would walk to and from work. I get the bus but still costs me £80 a month. Gosh that's a lot!!

So I have just found out that there is an app where you can buy weekly/monthly passes for the bus. I just bought myself a weekly ticket on the app and that will save me £24 a month! When summer arrives I will walk.

Ohh good find!

So we finished last month paying £140ish towards our debt, I was pleased with that because I didn't get paid last month due to Christmas. Aiming for £500+ this month.

We had to pick up a few clothes bits for the dc, but got one second hand and the others on sale, less than £10 total! Well worth waiting and considering how we would get them cheaper.

The cool thing about getting into the pay down debt mentality
is that it turns into mindful spending
which will last you the rest of your life
and teach your kids good habits

it is worth the first few painful months of living within your means to get to the debt free lower stress place

id like to join you
So by the end of the year my debts will be halved. I've worked 50 hour weeks and extra money for working boxing day and new years day and have paid £3500 of my debt since Nov 18.
One of my cards I was due to clear this month. I've taken advantage of a discount on a carpet (Jan sale) which I know I can pay in full next month but I'm now feeling awful for putting on a credit card (even though thought through). Like I said it will be paid in full next month, I've been so careful. Once that's paid I'm not using again.