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Original poster

Any chance of starting a Debt Free 2008 thread?

66 replies

Grouchyoscar · 02/01/2008 17:20

I found last year's Debt free 2007 really useful and would like to do it again this year

Are any of the original MNers who did that one going to push the boat out again?

And can I join please

OP posts:
jofeb04 · 02/01/2008 20:12

I would love to join (need to clear some debts!).

nutcracker · 02/01/2008 20:14

Me me me
I have major debt problems.

jajas · 02/01/2008 20:19

This reply has been deleted

Message withdrawn at poster's request.

Blossomhill · 02/01/2008 22:53

yes i will join to. really need to sort out my finances

jezzemxmas · 02/01/2008 22:56

me too

Phatmouse · 02/01/2008 23:38

And me, how do you actually join a group on this site, or do you just get involved.

charliecat · 02/01/2008 23:44

Helllo Are we starting from scratch or copying pasting then adding?
Just poll ideas here folks, come back and update your situation

Scramble · 02/01/2008 23:53

I am interested, down to one card, but determind to clear it.

Original poster
Grouchyoscar · 03/01/2008 10:24

I managed to stay debt free last year but I broke into a lot of savings too I need the impetus to keep going

At the start of a new thread it may be best to start from scratch. I joined mid year last year and I had to catch up Fast!

DH carries more debt than me so any help that I can suggest to him will help the family out

OP posts:
charliecat · 03/01/2008 10:48

Ok Ill start.

See if you can shift any CC debt onto 0% cards...or all o them onto a very low one. www.moneysavingexpert.com
It is POINTLESS saving if you are paying interest on debt.

tyaca · 03/01/2008 11:25

i'm in!

i've joined the Buying No Stuff in 2008 thread in the ethical living section this one , but that's more a meeting of consciences and self analysis of the need for "stuff" than it is a saving money thread.

me, i need something more serious and less cerebral so, here goes....

i'm 30 and about to have my first child.

i am a freelancer and so have no formal maternity leave as such. i'm due to start recieving state maternity allowance soon. the nature of my job means that once little one is old enough to go to nursery, i cant guarentee i can find work anyway. plus, i cant imagine doing my old job once i have kids, as always felt like work made too many demands on me as it was.

sorry, what i'm trying to say is that i cant guarentee finding suitable work any time in near future. going thru big changes.

so, how did i prepare for my impending loss of income last year? saving and cutting back? Nope, i gambled, which is an old prob of mine. i now have obscene amounts of money on three credit cards, and three years of tax to pay. and no more income coming in

so i cant spend money ever ever again.

nothing.

any support we can give each other in the not spending, clearing debts area would be invaluable to me, it really would. ask me nicely and i may even tell you how much i owe.... which i promise'll make you all feel better....

Original poster
Grouchyoscar · 03/01/2008 17:14

DH has not been paid his December wage yet (Again 10th late payment in 11 months [grr]) We pay all our bills by DD so if the bank isn't paid we go OD. We have a small OD and I've checked the account. I think if we are careful this month we can cover the DDs without going over the OD.

It means when he gets paid we'll be back in the black permanentley

OP posts:
Triggles · 05/01/2008 01:02

We're hoping to pay down debts so that when we have another child, I can work part time or be SAHM without it financially ruining us. These are some of the things we'll need to implement:

  • change our mobiles from contract to pay as you go as we don't use them enough to justify the cost of the contracts
  • cut back on unnecessary items when grocery shopping (impulse buys)
  • be more diligent about meal planning
  • no unnecessary trips into town or impulse online purchases

Any other suggestions are always welcome. We've already moved the credit card to one with O % interest. We have 2 loans to pay off, first one will be done in summer 2009. Seems like a long ways off, but really isn't.

bananaknickers · 07/01/2008 13:19

I am in again.Slowly the debts are getting down. We have no new debts apart from energy suppliers and tax credits again.Approx £5000 on a credit card. We are tarting at the moment but until our other debts reduce we can only afford the min payments.
We managed Christmas without getting into debt but we haven't budgeted for any big bills, so are struggling again.
In May we will have paid up a car loan, family tax credits and energy suppliers. We have just got to keep our heads above the sludge for the first 6 months.
We have a £500 bill to pay in May, Car insurance £365 at the end of this month, son's birthday in 3 days, a school holiday of £200 and all our birthdays fall in the first 6 months.
I have taken an important step today though. I had to buy my friend's children birthday pressies today. I got them a voucher each and have told her that I am sorry it isn't much but I am really skint. Friend is loaded and it has taken alot for me to admit this. Before I would have lived on baked beans on toast and got expensive pressies, just so I didn't loose face. I hope she understands.

TheIceQueen · 07/01/2008 13:27

I'm in didn't join last years - we're still slowly, but surely, paying off debts from 2yrs ago when we tried (and failed) to set up our own business. Long term we're probably looking at another 4-5yrs before we've cleared them all - but we're getting there.

The ones I'm paying are my and DH's CC (one each), DH has the car HP (which will finish soon as we'll have paid enough to "give back" the car - which we'll do and them DH is just going to buy a £500 cheap run-around for work - using the £250 a month saving towards other debts - and also will be there if we need to go away so we can hire a decent family car), he also has the flexi, loan, his overdraft, the mortgage (which we're still paying extra each month to pay off the arrears from the failed business) and another loan.

It's not easy as once we've paid the bills, and done the shopping (usually I spend around £200-250 a month - but that includes nappies, baby milk, (those 2 alone cost close to £80!) cleaning stuff etc - oh my £30 for tobacco - as well as the food there's not usually much left to put towards pay extra off......but hey - the end is in sight - and this time 2yrs ago we were looking at possibly bankruptcy!

TheIceQueen · 07/01/2008 13:28

Banana - I'm sure you're friend will understand - DS2 went to a party the other day - I spent a grand total of £1.98 on the present, card and wrapping paper .

ScoobyDoo · 07/01/2008 13:30

Me i'm in please, have some debt, has been going down though as have been paying it off but still some more to go.

MascaraOHara · 07/01/2008 13:33

I'm deffo in.. have manageable debts but would be nice to clear them. and focus on sorting out my spending habits.

TheIceQueen · 07/01/2008 13:34

I've got loads of stuff to sell - but not sure where to sell it - never seem to have any luck here on MN, or on e-bay, local free-ads in the local papers have been hopeless too if I could sell it I could take a huge chunk out of my CC which is still maxed out (which we will be keeping even once it's paid off as it'll be useful for when DH's company don't pay his expenses on time.......oo like now - we've been waiting for nearly 6/7 weeks for his last lot to come through )

MascaraOHara · 07/01/2008 13:35

Have you tried carboot?

TheIceQueen · 07/01/2008 13:36

they'll all on Sunday's round this way - and I can't do Sunday carboots as I'm playing at church!

Besides - trying to get us all up and out of the house (I don't actually) drive for some ungodly hour in the morning would be nigh on impossible...........and I'm not sure the Upright piano would fit in the back of our little Ford Focus

PersephoneSnowballSnape · 07/01/2008 13:39

hello lovely spendthrifts!

I'm in too. single mother to three DCs ex partner doesn't work, I get £40 a month form him for children ( If he doesn't drink it forst..) I work full time and have credit card debt of about £7500, a loan of £6000. various other bits and bobs (including a store card of £500 ffs.

I'd like to clear some credit card debt and teh store card ( overdraft is £1000 as well, but that might be pusing it a little.) I want to try and move this year

I'm starting off with listing five items a night on my ebay turbo lister to declutter, then i'll list them on the next 10p day. have also sealed a small hat-box type box that some mugs came in at xmas (wanted a terrimundi, but can't justify the £18.00) and have cut a slot in teh top. everything under 50p goes in there every night and i won't open it until it's full or december 1st, whatever comes first.

have bought all of my childrens birthday presents for this year in the january sales. half price remote control dalek. half price ipod speakers and 3 pre-loved ds games in the sales.

MascaraOHara · 07/01/2008 13:49

can you sell the piano at a RL auction? (as opposed to ebay?)

I have credit card debt (interest free) which is mostly pay off-able when it comes in as I have some money in savings and am currently doing up bathroom.

I have a loan which I have the option to pay off in June but otherwise it has another 5years to run.

Finance on furniture which ends after February

I could do with listing a load of stuff on eBay

I have a massive overdraft facility which is tempting to use to pay off my credit card but as credit card in interest free is probably best not too.

I started on the 2007 debt free thread but dropped out. I did however curb my spending habits a lot and I'm much more in control than I used to be.. but there is still much room for improvement.

Flllightattendant · 07/01/2008 13:52

Hi all. Can I come in?

I am still looking for a SOA to download but can't find one.

I am feeling hopeful for the first time in a good while, as I have been paying off my overdraft and it now slips into the '1' at the front rather than a 2, 3 or 4, occasionally...

But is still 4 figures.

I also have a loan of about £3900 which once my O/D is cleared, I would like to pay off early by saving.

I have been buying Birthday pressies in the sales as well and plan to use others from my 'present cupboard' this year. I don't drink or go on holidays. I bought my son new shoes in the sale yesterday, £10 rather than the usual £35.
I am trying to learn to cook and putting off an online shop till I have used things from the store cupboard etc.

Also have avoided the high street this year as I am a sales fiend - the things I got for presents were online. Some will be returned as well I think, wasn't sure what to buy so will choose wheh they arrive.

I am loving being frugal again, this is the 'old' me back again, before I ever went into the red.

Flllightattendant · 07/01/2008 13:54

MOH, don't swap interest free for authorised bank interest, it is horribly expensive! I wish I could get a 0% CC to use instead of paying £50 a month interest!

Oh and I am ebaying too... that is selling, not buying...