Just Had LBM

Hope78 · 3 March 2007 at 6:07PM

Well that's not strictly true I've had little flickers over the past 2 years but chose to bury my head in the sand! I've hidden the tru extent from everyone (well mum has an idea but she's not great with money either). Then on 14th Jan 2007 had a major flash and went through the whole roller coaster of emotions in the last 6 weeks...crying, depression, embarassment, blame everyone else etc etc. Ok so I buy things for others, pay for the meals out with family but its me who can't say no, noone actaully asks me to do it.

Then I stumbled across this web site and had my LBM and realised that there was no point going over old ground but to grap the support you all offer to one another here and try to turn my life around, :rotfl: I really did think that I was the only person in this situation and was moritified but reading all your posts has given me hope - hence the user name.

I'm off to take mum to supermarket, not taking cards or purse and plan on sitting in car so can't put anything in her trolley. Then I'm going to sit down and do my SOA and will post back later.

GirlRacer_2 · 3 March 2007 at 6:14PM

Good afternoon Hope78, so glad you've finally seen the light and decided to join all the good folks on here. There's lots of brilliant moneysaving ideas and extra income advice here along with all the legal jargon you may need to deal with your debts.

Welcome to DFW's

abbecer · 3 March 2007 at 6:20PM

Welcome to the boards. You are certainly in the right place for help and support. Look forward to tonights post and then we will all be able to see if we can help.

Rebecca x

*zippy* · 3 March 2007 at 6:27PM

Nice to meet you Hope :hello:

dancingfairy · 3 March 2007 at 8:42PM

Hi and welcome. If you post an SOA up we'll have a look over it for you and see if we can find ways to save you some money (See Southern Scousers sticky thread for first timers).

LookingAhead · 3 March 2007 at 8:55PM

Hi there, welcome!

You'll be so glad you found this site I promise.

Warning though - money saving and wanting to smash the debts down does become addictive.......but there are worse things to be addicted to!

How did you get on at the supermarket?

Good luck with the SOA, I am sure there will be lots of advice on offer thereafter.

Bambywamby · 3 March 2007 at 9:15PM

Hello Hope

I agree with everybody, you really will be glad you came onto the site and had a lightbulb moment.

Alot of folks on here now actually get the same buzz paying off a debt as they used to when spending.

When your debt free (which will not belong now your proactive) you will be able to start saving and investing and before you know it you will be comfortably rich and will stay that way due to your new found financial knowledge.

Well done on deciding to embark on this wonderful journey and good luck x x

Hope78 · 3 March 2007 at 9:19PM

I managed to avoid supermarket dad took mum instead! I'm sitting with all my statements and things at the moment so SoA should be ready for posting shortly. Thanks for all the encouragement

it's amazing how liberating it is to be honest about finances and its a funny thing being able to open up to strangers rather than those closest to you.

joughtib · 3 March 2007 at 9:37PM

Good to see you Hope. We're here for you, and once you've popped your SOA on here, we'll do all that we can to help.

Remember, you're not alone.

Hope78 wrote:

I managed to avoid supermarket dad took mum instead! I'm sitting with all my statements and things at the moment so SoA should be ready for posting shortly. Thanks for all the encouragement it's amazing how liberating it is to be honest about finances and its a funny thing being able to open up to strangers rather than those closest to you.

Hope78 · 3 March 2007 at 10:45PM

It's worse than I thought had been in denial that as loans have end date they didn't really count - naive of what eh? Here's my SoA

Monthy Incomings £1719.07
Current Account Balance Today £18.35 (still have a few dd to pay)
Nationwide Savings £0.05 Halifax Savings £1.18

Outstanding Debts
Capital Bank Car Finance £11155.13 end date May 2010
Nationwide Loan £1518.26 end date July 2008
Northern Rock Loan £3021.00 end date December 2008

Egg Credit Card £3984 (limit £4000) 16.9% APR
Nationwide Visa £11214 (limit £11750) 17.9% APR
Halifax Visa £12717 (limit £12900) ?APR

Total Debt £43609.39

Monthly Outgoings
Car Payments £299.87
Credit Card Min Payments £330 + £260 + £80 = £670
Nationwide Loan £94.87
Northern Rock Loan £149.56
Life Insurance £24.40
Phone £35
Materials for work £35
Petrol £60
Dig Money £65
Birthdays £40
Xmas £40
Clothing £35
Haircuts £25
Yearly car insurance £40
Road Tax £15
Prescriptions £13
Dental £2.80
Optical £17
Car repairs £25
Car service £3.50
MOT £3.50
Work Lunches £4.00
Socialising £25
Online Music Subs £5.99
Union Fees £11

My folks cover food, toiletries etc in their supermarket shop. I'm going to cancel online music subs first thing Monday. Also my Nationwide loan allows additional payments of £100 plus and I'm happy to do that if I can afford to as then I could start paying more to another debt.

Tustastic · 3 March 2007 at 10:54PM

You are brave for posting your SOA, Hope - well done.
Why not cancel the life insurance? If you went under a bus (heaven forbid) your debts would die with you.
Your SOA also needs to include estimated amounts for food, haircuts, Xmas, clothing.

Just Had LBM

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