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  • FIRST POST
    • motivated
    • By motivated 28th Jan 17, 4:51 PM
    • 2,273Posts
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    motivated
    Debt Demolisher
    • #1
    • 28th Jan 17, 4:51 PM
    Debt Demolisher 28th Jan 17 at 4:51 PM
    Hi MSE ers

    Have plucked up the courage to admit that I cannot cope financially.

    Long story short. We are £82,590 in Credit card and Loan debt basically spent on nothing but shopping, holidays, clothes and household things.

    We are not in arrears or any CCJs at present but fear this will not last.

    I completed the step change debt remedy tool thing today and it advised me to ring them on Monday Petrified at the thought of phone calls, bailiffs at my door and threatening letters etc. I don't even know what to expect about the process etc.

    What do I have to show for it all NOTHING

    So angry with myself but I do feel a little easier as it seems I have woken up and am willing to face it all, pay it all off and remove a lot of the stress I have every month.

    Myself and My OH both work and are both willing to pull together to sort this sorry mess out. I am hoping that keeping a diary and soaking up some excellent tips and advice will see us through to the end.

    I have seen some excellent advice and encouragement given on here and have thoroughly enjoyed reading all of the advice and diaries.

    One day I will be advising others (I hope)

    Please be gentle with me
    M
    Last edited by motivated; 30-05-2017 at 10:33 AM.
Page 3
    • Bobarella
    • By Bobarella 15th Feb 17, 6:42 PM
    • 10,476 Posts
    • 69,666 Thanks
    Bobarella
    Hi Bobarella and thank you

    I noticed you are so close to being debt free. Well done and I hope you enjoy the freedom.

    Have you had a long journey like me
    Any tips on the journey and staying positive etc will be gratefully received
    M
    Originally posted by motivated
    definitely won't be buying fancy cars and jet skis

    I will certainly look at 6 monthly targets or a goal to see how far we've come at Christmas maybe. I am so looking forward to getting started. Then we will be able to see exactly how much we have to budget with and will be able to budget properly for the first time in years.

    Our car tax and insurance need to be paid within the next 2 weeks so this will give us a good starting point to put money away regularly ready for next years. ( if my Ferrari holds out that long)

    Good luck on your last leg of your journey Bob
    M
    Originally posted by motivated
    " Your vibe attracts your tribe"

    Debt neutral 27/03/17 from £40k in the hole 2012.
    Roadkill 17 £56.58 2016-£62.28 2015- £84.20)
    RYSAW17 £1900 2016 £2,535.16 2015 £1027.20
    • Treadingonplaymobil
    • By Treadingonplaymobil 15th Feb 17, 8:52 PM
    • 1,063 Posts
    • 10,072 Thanks
    Treadingonplaymobil
    We are right at the beginning of a long long journey too - we'll both be here patting each other on the back for making it through in the not-too-distant future I hope! It's hard when it feels such a long road (I got in a grump today about a £7 overspend, probably need to sort myself out or it's going to be a grumpy few years!) but we'll get there in the end.
    £67,031.92 is a frightening number indeed... The debt free diary of one family and their enormous debt
    LBM debt on 12th Feb 2017/DFD: £58,608.13/1st Dec 2026
    debt on 2nd Aug 17/DFD: £55,011.96/1st May 2025
    • motivated
    • By motivated 15th Feb 17, 9:19 PM
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    • 3,389 Thanks
    motivated
    Hi TOPM

    I also got in a grump with DH today as he drew out money from the ATM. It was only a small amount but I was like He needs to catch up to my way of thinking at the moment. We ended up having a few cross words over it.

    I suppose old habits die hard eh.

    Still a long way to go but at least we are pointed in the right direction.

    We will be plodding along together and we WILL make it to the finish line
    M
    I have arrived in DMP land and I like it, I may stay a while
    Short term goal £735/£1796

    SPC # 91
    • motivated
    • By motivated 16th Feb 17, 5:55 PM
    • 2,273 Posts
    • 3,389 Thanks
    motivated
    Had quite a productive day today managed to change most DDs. One was supposed to phone me back... still waiting. Will be onto them first thing in the morning.

    Also needed a few bits of shopping today but have held out until tomorrow when DHs wages go in then I will be working from my budget and not thinking oh I'll just go shopping with the money we have saved and then I'll put it back tomorrow.

    I need to keep in this habit from now on of spending money we have and not money we think we have

    I have a top up debit card on our new account I can transfer money across to it to be used for shopping etc. The good thing about this is I will only transfer what we can afford to spend thus avoiding temptation.
    I will be at Aldi first thing armed with a shopping list of essentials only and my debit card loaded with a set amount

    I thought I may get an email from SC today telling me everything is in place and ready to go. Maybe tomorrow, I shouldn't really be too impatient but still feeling positive about the future. Even had another CC statement come in today and I am not worried at all about it. I have contacted our creditors and so far they have been ok about our situation. Long may it continue
    M
    I have arrived in DMP land and I like it, I may stay a while
    Short term goal £735/£1796

    SPC # 91
    • Treadingonplaymobil
    • By Treadingonplaymobil 16th Feb 17, 6:35 PM
    • 1,063 Posts
    • 10,072 Thanks
    Treadingonplaymobil
    Glad you are feeling fairly zen today. I have had a hell of a day, but trying to keep on trucking through it and not give into abandoning it all!
    £67,031.92 is a frightening number indeed... The debt free diary of one family and their enormous debt
    LBM debt on 12th Feb 2017/DFD: £58,608.13/1st Dec 2026
    debt on 2nd Aug 17/DFD: £55,011.96/1st May 2025
    • motivated
    • By motivated 16th Feb 17, 7:21 PM
    • 2,273 Posts
    • 3,389 Thanks
    motivated
    Glad you are feeling fairly zen today. I have had a hell of a day, but trying to keep on trucking through it and not give into abandoning it all!
    Originally posted by Treadingonplaymobil
    I've had many a day like that too. Times when you think it's never going to change or never going to get better. I have been advised by many on here to take each day as it comes and to ride with it. It WILL get better.

    Keep trucking TOPM
    M
    I have arrived in DMP land and I like it, I may stay a while
    Short term goal £735/£1796

    SPC # 91
    • motivated
    • By motivated 16th Feb 17, 8:03 PM
    • 2,273 Posts
    • 3,389 Thanks
    motivated
    . Have also opened a second savings account which I can transfer money about as and when I need to.
    The first savings account is our back up money like our emergency fund. The second is for car tax and car insurance, vet bills, household goods,Christmas, Birthdays ( although we don't go overboard on these 2) and anything else we need to save up for. As I get paid monthly I can put the amounts I need in the second one and let it build throughout the year. That way I will be prepared for any unexpected bills

    Why didn't I discover this way of thinking years ago
    M
    Last edited by motivated; 16-02-2017 at 8:17 PM.
    I have arrived in DMP land and I like it, I may stay a while
    Short term goal £735/£1796

    SPC # 91
    • Bobarella
    • By Bobarella 16th Feb 17, 11:22 PM
    • 10,476 Posts
    • 69,666 Thanks
    Bobarella
    It is annoying when you have those thoughts, but you didn't discover it years ago because you weren't ready to. Life unfolds in its own way.
    " Your vibe attracts your tribe"

    Debt neutral 27/03/17 from £40k in the hole 2012.
    Roadkill 17 £56.58 2016-£62.28 2015- £84.20)
    RYSAW17 £1900 2016 £2,535.16 2015 £1027.20
    • Treadingonplaymobil
    • By Treadingonplaymobil 17th Feb 17, 5:32 AM
    • 1,063 Posts
    • 10,072 Thanks
    Treadingonplaymobil
    Good progress on the savings accounts. For the short term mine our long term savings (Christmas/birthdays/car MOT etc) is our emergency fund, but I'm hoping to change that in the not-too-distant future (although I can't imagine diverting anything from debt repayments to saving at the moment!)
    £67,031.92 is a frightening number indeed... The debt free diary of one family and their enormous debt
    LBM debt on 12th Feb 2017/DFD: £58,608.13/1st Dec 2026
    debt on 2nd Aug 17/DFD: £55,011.96/1st May 2025
    • motivated
    • By motivated 17th Feb 17, 9:26 AM
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    • 3,389 Thanks
    motivated
    Hi diary world

    Was up early and organised budget. Topped up Gas and Electric with funds put aside from budget just need to pay one more thing for the week and that's our budget done for the week. Even managed to transfer some to our new savings account

    But I went grocery shopping to discover Aldi closed for refurb
    Ended up in Adsa which is just next door and went £20 over planned budget spend I did buy a meal for tonight for 4 people and we usually have a takeaway on a Friday which would have cost more than £20 so I suppose it's not too bad. (Trying to justify the overspend to myself)

    Will adjust finances to compensate but am really annoyed at myself although I could've quite easily done more damage. Purposely steered my trolley away from the clothes and household isles

    Need to finish changing the last of my DDs and on to tackle housework
    Have a good day all
    M
    I have arrived in DMP land and I like it, I may stay a while
    Short term goal £735/£1796

    SPC # 91
    • motivated
    • By motivated 18th Feb 17, 11:34 AM
    • 2,273 Posts
    • 3,389 Thanks
    motivated
    Morning all

    Managed to renew car insurance and car tax today for another year all paid for with debit card not credit card

    Will now ensure that the funds go into our new savings account regularly to make sure we have the funds available next year.
    This organisation is so not usually us but I like it

    Have a good weekend all

    M
    I have arrived in DMP land and I like it, I may stay a while
    Short term goal £735/£1796

    SPC # 91
    • Bobarella
    • By Bobarella 18th Feb 17, 9:05 PM
    • 10,476 Posts
    • 69,666 Thanks
    Bobarella
    Do you think Asda is super more expensive than Aldi or just more tempting? Interesting as I don't shop at either, just through what's near by.
    " Your vibe attracts your tribe"

    Debt neutral 27/03/17 from £40k in the hole 2012.
    Roadkill 17 £56.58 2016-£62.28 2015- £84.20)
    RYSAW17 £1900 2016 £2,535.16 2015 £1027.20
    • motivated
    • By motivated 19th Feb 17, 6:33 PM
    • 2,273 Posts
    • 3,389 Thanks
    motivated
    Do you think Asda is super more expensive than Aldi or just more tempting? Interesting as I don't shop at either, just through what's near by.
    Originally posted by Bobarella
    Do you know what Bob I think you're right. When I checked back through my shopping I actually had a few bits I could've done without. The crisps were on special (typical supermarket trick). Right by the tills so of course they seemed like a bargain. Why I felt the need to buy 2 lots of the deal heaven only knows.

    I also had another couple of bits that temptation MADE me buy, refused to let me leave the store until I had them bought and paid for

    Will have blinkers on next week so I do not even see the so called deals and bargains.
    M
    I have arrived in DMP land and I like it, I may stay a while
    Short term goal £735/£1796

    SPC # 91
    • Upsidedown Bear
    • By Upsidedown Bear 19th Feb 17, 7:18 PM
    • 17,820 Posts
    • 77,815 Thanks
    Upsidedown Bear
    Do you know what Bob I think you're right. When I checked back through my shopping I actually had a few bits I could've done without. The crisps were on special (typical supermarket trick). Right by the tills so of course they seemed like a bargain. Why I felt the need to buy 2 lots of the deal heaven only knows.

    I also had another couple of bits that temptation MADE me buy, refused to let me leave the store until I had them bought and paid for

    Will have blinkers on next week so I do not even see the so called deals and bargains.
    M
    Originally posted by motivated
    I read that as bikinis and wondered why you were wearing one to go shopping

    Shops are very good at getting you to spend as much as possible.
    Take a list and do not buy anything else << said in stern voice

    Remember Martin's Money Mantras - I have a copy in my purse

    Skint?
    Then ask:
    Do I need it?
    Can I afford it?
    Have I checked whether it's cheaper elsewhere?
    If the answer is no then don't buy!

    Not skint?
    Then ask:
    Will I use it?
    Is it worth it?
    Have I checked whether it's cheaper elsewhere?
    If the answer is no then don't buy!

    http://www.moneysavingexpert.com/shopping/money-mantras

    Member: Wimps Anonymous
    Live simply so that others may simply live.
    Cheap Coffee Lover

    • motivated
    • By motivated 19th Feb 17, 7:31 PM
    • 2,273 Posts
    • 3,389 Thanks
    motivated
    I read that as bikinis and wondered why you were wearing one to go shopping

    Shops are very good at getting you to spend as much as possible.
    Take a list and do not buy anything else << said in stern voice

    Remember Martin's Money Mantras - I have a copy in my purse

    Skint?
    Then ask:
    Do I need it?
    Can I afford it?
    Have I checked whether it's cheaper elsewhere?
    If the answer is no then don't buy!

    Not skint?
    Then ask:
    Will I use it?
    Is it worth it?
    Have I checked whether it's cheaper elsewhere?
    If the answer is no then don't buy!

    http://www.moneysavingexpert.com/shopping/money-mantras
    Originally posted by Upsidedown Bear
    if I went shopping in a bikini I swear they would give me the shopping for free just to get me out of the store Could be an idea though

    I will definitely be on my guard next time. I'd forgotten that there is another Aldi about a 5 minute drive from me. Will be taking the detour and going there next week.

    I'm liking Martin's Mantra that's so true and one I will need to ask myself in future.
    Thanks Bear
    M
    I have arrived in DMP land and I like it, I may stay a while
    Short term goal £735/£1796

    SPC # 91
    • Upsidedown Bear
    • By Upsidedown Bear 19th Feb 17, 7:51 PM
    • 17,820 Posts
    • 77,815 Thanks
    Upsidedown Bear
    if I went shopping in a bikini I swear they would give me the shopping for free just to get me out of the store Could be an idea though
    Originally posted by motivated
    I might try it too



    Member: Wimps Anonymous
    Live simply so that others may simply live.
    Cheap Coffee Lover

    • motivated
    • By motivated 19th Feb 17, 7:53 PM
    • 2,273 Posts
    • 3,389 Thanks
    motivated
    I might try it too


    Originally posted by Upsidedown Bear
    Ahhh If only I looked this cute in a bikini we can all have dreams
    I have arrived in DMP land and I like it, I may stay a while
    Short term goal £735/£1796

    SPC # 91
    • foxyloxy11
    • By foxyloxy11 19th Feb 17, 7:54 PM
    • 229 Posts
    • 1,249 Thanks
    foxyloxy11
    I'm so pleased you're getting sorted. those years will tick by quickly and before you know it you'll be debt free!
    also you'll be super motivated to stay that way too. Meal planning is a brilliant way to save money so that's all extra you could add to it.
    good luck and we'll all be supporting yo in your journey
    £1000 Emergency fund challenge #225 - £630.00.00/£1000 Baby Step 1
    Debt free day October 2019 - End of Baby Step 2
    • Treadingonplaymobil
    • By Treadingonplaymobil 19th Feb 17, 7:58 PM
    • 1,063 Posts
    • 10,072 Thanks
    Treadingonplaymobil
    I think that's the main reason Lidl/Aldi work for me - no tempting little offers knocking around the store and no nice homeware!
    £67,031.92 is a frightening number indeed... The debt free diary of one family and their enormous debt
    LBM debt on 12th Feb 2017/DFD: £58,608.13/1st Dec 2026
    debt on 2nd Aug 17/DFD: £55,011.96/1st May 2025
    • motivated
    • By motivated 19th Feb 17, 8:05 PM
    • 2,273 Posts
    • 3,389 Thanks
    motivated
    Thank you foxy

    I am determined not to look at the overall total and how long the journey is. I plan to plod along until Christmas and then I can see how much progress we've made.

    All being well I am hoping that I hear from SC tomorrow to tell me out DMP is set up and then I know I can breathe a sigh of relief for sure.

    Also,as for the meal planning I certainly will be doing this. I have lots of groceries in and have enough for the week easily. Even today DH said oh it's only us 2 here shall we eat out. I said no and then proceeded to cook dinner Was quite proud of myself as usually I would have thought oh well it saves me cooking but We need to get into the habit of watching ALL the pennies and not just the ones we think we will watch

    Feel like we have made progress already as I have budgeted this week and know exactly how much we have to spend this week. Just need to make sure DH knows it too

    Have even added a little to our second savings account. This usually would have been money that just got wasted throughout the week without realising. Will continue to add to this and hopefully watch it build.
    M
    I have arrived in DMP land and I like it, I may stay a while
    Short term goal £735/£1796

    SPC # 91
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