Tales from the city

Hi there

How is everyone? All good I hope. I had a diary on here for a few years called Tales from a Country Cottage. I won't bother with a link, it really wasn't exciting, but I do remember the wonderful support you lovely people offered me, and the joys of matched betting, mystery shopping, online free bingo (that was a good one) and various other strategies for making cash. All good stuff.

I have since moved to the city, hence the new diary and its new name. This feels very much like a fresh start and my goodness, I need one.

I was previously determined to clear my debt and at times actually managed to make it go down. Then life happened, threatened redundancy, separation from ex- OH, a house move, and then another one, then an application to do a PhD and various other expensive things that meant I took my eye off the ball.

And boy, did I...

My debt is now eye- watering and bigger than it has ever been in my life. I'm scared that I won't make ends meet every month and I have managed to max out 2 credit card in the last 6 months. I am constantly worried that something will go wrong with my car and not only do I have no money to get it fixed, I have no credit either.

Things are desperate, more so than they have been in years. I have moved to one of the most expensive places in Britain (not my choice, it was where I was offered a training post, £15 for fish and chips...really??) and am currently in a panic that I may need to give up my PhD and move back home. My debt repayments every month are massive and sometimes I can't cope with checking my accounts online.

So I was sat here feeling helpless and depressed and wondering what on earth I was going to do. Then I remembered this place. And suddenly I'm all inspired again.

Maybe, just maybe, there's a chance I can sort this out.

I know what needs to be done. I have to sort out my spending, I have to cut back on everything, I have to find ways to make extra cash, I have to seek out freebies, I have to find ways to live cheaply and most importantly I need to PAY OFF THE DEBT.

I can do it. And you are all my inspiration.

Thank you so much for reading and if you want to drop by and share your thoughts, feel free.

Time to get started!

a*f








If you know you have enough, you're rich. ;)
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Comments

  • ani*fan
    ani*fan Posts: 1,554
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    So here it is, the bad news, out in public for all to see. How embarrassing...

    I owe...


    £7,770 to my mum 0% interest £185 per month
    £300 overdraft £10 per month interest
    £3,885 M and S credit card 19.9% interest £100 approx. per month
    £4,675 Virgin/MBNA 19.9% interest £110 approx. per month
    £2,150 Capital One 29.9% interest £75 approx. per month


    GRAND TOTAL £18,780

    A few points...
    • My minimum payments every month are £480
    • This is not manageable
    • The Capital One card interest rate is just shocking, that one needs to go first
    • My mum is flexible and in dire need I could stop those payments for a few months, but I'd rather keep paying her
    I think I've just given myself a small panic attack writing all that down.

    If you know you have enough, you're rich. ;)
  • ani*fan
    ani*fan Posts: 1,554
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    I've been checking out Martin's guide for students and just remembered that I'm eligible for a student bank account.

    Now that's handy.

    One of the banks is offering £3,000 free overdraft to students. I'm sure there are a few loopholes, such as only getting £1k the first year then having to apply to get it increased, but even so this could be helpful.

    I was thinking I could transfer the Capital One card to that. And use any extra to pay down one of the other 2 cards. And all I need is a letter from my uni saying I'm enrolled on a full time course.

    One small problem is that I might just spend the £3,000 and end up in even more bother than I'm in now. But no, I'm determined to learn my lessons this time.

    Quick email to uni for that letter and I'm good to go. Progress already!
    If you know you have enough, you're rich. ;)
  • beanielou
    beanielou Posts: 89,816
    Academoney Grad I'm a Volunteer Ambassador Mortgage-free Glee! Name Dropper
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    Look forward to reading about your debt free journey :)
    I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.

    Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.

    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
    One debt remaining. Home improvement loan.
  • DawnW
    DawnW Posts: 7,423
    Name Dropper Photogenic First Post First Anniversary
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    Hello Ani*Fan, I remember your old diary.

    Look forward to reading further, good luck with it - we are all rooting for you!
  • Hello a*f,

    Good luck with everything, i've just started my own diary and I know how horrible it feels to finally see everything in black and white.

    I look forward to seeing your progress here!
    May Grocery Challenge - £34.58/£75
  • ani*fan
    ani*fan Posts: 1,554
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    edited 21 February 2014 at 10:57PM
    Hi there beanielou, DawnW and AGirlWrites

    Lovely to hear from you all, familiar faces and new ones, and thanks so much for the support and encouragement.

    DawnW, the frugal living challenge sounds brilliant, I'd love to give it a go at some point and hear how you're getting on with it, I'll have a look for the thread.

    :-)
    If you know you have enough, you're rich. ;)
  • ani*fan
    ani*fan Posts: 1,554
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    Today I've come to the earth- shattering realisation that I need to stop using my credit cards, just completely stop, cold turkey. They need to not be used for anything, not for a pint of milk or a £600 MOT, not for petrol or a weekly shop, not for anything at all. I need to put them away and not use them.

    The thought of leaving them at home is bringing me out in a sweat, heaven forbid actually ever cutting them up.

    I'm away to take them out of my purse, stash them somewhere safe and ponder which one should be cut up first, if I'm ever brave enough to do that.
    If you know you have enough, you're rich. ;)
  • mothernerd
    mothernerd Posts: 4,827
    First Anniversary Name Dropper First Post Debt-free and Proud!
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    Best wishes to you as you start your journey.
    My mission in life is not only to survive,but to thrive and to do so with some Passion, some Compassion, some Humour and some Style.
    NST SEP No 1 No Debt No mortgage
  • ani*fan
    ani*fan Posts: 1,554
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    Thank you mothernerd. Hope you enjoy your Saturday and I look forward to seeing you around.


    a*f
    If you know you have enough, you're rich. ;)
  • ani*fan
    ani*fan Posts: 1,554
    Combo Breaker First Post
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    Here's a breakdown of my budget. Feel free to comment.


    Rent 625.00
    Council tax 172.00 (will decrease to half this amount in April)
    Gas 39.00
    Electricity 32.00
    Car insurance 34.49
    Phone/internet 25.00
    Mobile 25.00
    Food 80.00
    Petrol 20.00
    Music group 5.00
    Netflix £5.99
    Debt repayments £480


    Total £1,543.48

    Wage £1,500.00


    I'm already spending more than I earn and that's without budgeting for road tax, mot, haircuts, presents, Christmas and not a chance in hell of a holiday any time soon.


    This is miserable.


    xx
    If you know you have enough, you're rich. ;)
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