In a bit of bother..

MartinGT wrote:

so many replies..thank you


Calleyw
as a job, i have 2.
One on monday & friday 7 am to 6pm, and thursday 7 am to 1pm.
My other is on a thursday and sunday 5pm to 930/10pm.

Another job is a possiblilty, or a slight payrise. I only get 30 for the long days . and 4.85p/h at the evening work which is fine.

Yes, my car is the main reason of my debt, but to be honest its not really an option to sell it. I brought it for 2000, the book value for a private sale is 2700. so i got a bargain, but with the modifications i have done to the car, its worth its value + more to another inthusiast, not the general car buyer.

the holiday is 2 weeks, and it is self cartering, so 500 would be about right, its a group of us going away and i have paid the actual holiday deposit of 125, and 151 is left to pay. But cancelling the holiday is not an options, as there is 11 of us, and we just split the cost of the apartment, so all the others couldnt go or they pay my extra bit between them?

Day to day i do not really spend anything, i live off my tips at the moment, as i appreciate i am in debt. if i do not have any tips, then i do not go out. its just the monthly outgoings i struggle to cover.

£500-£600 spending money for two weeks in self catering. Sorry but you are having a laugh. You are obviously going to be eating out and spending a lot on drink. As I can't see how you can spend £250-£300 a week.

I went to OZ for 3 weeks and excluding the flights but including train travel, food and accomodation and spendies we spent just about a £1128 for two people for three weeks. Holiday was saved for so no debt for it.

So approx £376 a week. As your accomodation has been paid for then I am at loss to know why you think you need £500-£600 for two weeks.

What you have to ask yourself was the car worth getting in debt. I am not old by any means being 33. But by the time I was 23 I was running a car and had a half share in mortgage. I had no debts. Did not save much either.

But did not get caught up in I must have X car or Y car. When ever I look at buying a car. MPG and insurance cost out weigh the coolness of the car. As I would rather pay cash then watch all my money drain away from me on my car. If it was something that appericates in value maybe. But unless you have a classic rare car it ain't going to gain in value.

If you ask a lot of people why they are debt must will tell you for things and if you ask most of them what they where. They would look at you blankly and tell you no idea.

As you already have two jobs at the moment which I assume you are in a service trade as you mention tips. Why not look at getting one full time with better hours and possibly better money. Yes, I know it is never easy when you are younger to get decent well paid job. But if you where working 9-5pm and no weekends you could then get a second job to fill in the gaps.

I mean I worked full time and was studying part-time and had a second job stacking shelves in a supermarket two night shifts a week to get extra money so I could save a decent amount.

But it is really all about how much you really want to get it all sorted out.

I have seen people before who claim they want to sort out debts and go well smoking and drinking has to stay. I am not prepared to try and lower my food bills. Got to have sky as it is my only entertainment. Well I don't even have a telly.

I do hope you find a way that works for you.

And in a nice way I don't want to see you back in 3 years time posting that you now have tens of thousands in pounds in debt.

All the best.


Yours


Calley

mountainofdebt wrote:

You're taking the @$&! right???

I doubt it too.
Continuing your lifestyle with most costcutting being "not an option" is a recipe for disaster. I agree you haven't had your lightbulb moment yet despite admitting you're losing sleep.
Asking for advice from strangers is quite a step at your age. Check out how deep in doodoos some people in the wannabe forum have got themselves into by putting their heads in the sand! Some live in fear of what the postman will bring next and are petrified that bailiffs will knock on the door and they'l be made homeless with young children. Make sure you nip your problem in the bud.
If you can really promise yourself to take heed of many of the suggestions you've had when you get back from holiday, I say go for it! You work hard and deserve a break. If you think you can carry on as you were before the holiday when you get back, all the free advice you've received will be wasted.
The Tesco loan will finish soon and by pulling your horns in you could get yourself straight. Some suggestions are pretty Draconian but all possible if you really get in a hole.
I think you're deluding yourself about the car's value, but if you don't change it for several years, you will get reasonable value out of it.

As said before the only way to get out of debt is to be earning more than you are paying out

At 18, you will not be getting the most glamorous or well paid jobs, however cant you find better jobs driving by making use of your driver license?

3.5k is a lot of debt when you think about, especially when you consider it would take you 7 months on your current wages to pay off, with no spending on anything!

Obviously because life costs money, then this is not the case, so you need to find a better paid job, or sacrifice possesions which will bring in the money (as said your car)

Also if you found a driving job you wouldnt need a car of your own

Worth a look

MartinGT wrote:

thanks, one of my jobs is a driving job!
i dont really know why i use so much petrol. so i have put a stop to it now.

Six possible reasons:

1) You drive a car with a big engine; my 1.1 corsa costs about 10p per mile, my sister's 1.8 Audi (I know, she earns more than me!) costs nearly double that.

2) You drive a car that has problems with fuel economy because of engine problems

3) You drive a car which has so many additional spoilers that it's adding drag to the car and reducing your fuel economy

4) You drive too fast.

5) You drive like a man (Ducks and waits for the angry response!) seriously though - men tend to burn more petrol because they drive more aggressively.

6) You drive too much when you could walk

Kat