facing up to things beginning with D...!!

pinkskyatnight · 8 November 2012 at 3:09PM

hi everyone
me and my boyfriend got in a bit of pickle a few years back renting a house that we couldnt afford, having no money left and every month spending on credit cards just to get by. we were luckily enough to be helped by a family member with a deposit so that we could buy a house and halve the amount we were paying in rent/mortgage each month. we have currently been in the house for a year and a few weeks. the house required alot of work so we have put quite alot of money into it some on credit and some out of our monthly salary. but we are trying to now plan for the future (babys and all that!) and trying to sort out money situation out, and im hoping this will now be possible as its now possible to live well within our means if we try!
i just wanted to post the amount of our debts to try and shock me and really get me into the right frame of mind for tackling this head on!!!!!! here goes... £ 11,047.61
this last month i have started an excel sheet with every single outgoing, bill, money out etc to see where the money is going, why and how we can reduce/stop this happening and also to figure out how much money is left every month that we can put straight to paying the debt off instead of starting to save.
my first step yesterday was to cancel my sky and use the free channels on the sky box, we did however keep the £10 a month recording facility until we can afford to buy our own device, but thats a £25.00 saying soon to be coming my way!
good luck everyone, we can do this!

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unimaginative_user_name · 8 November 2012 at 3:45PM

Hi pinkskyatnight!

It sounds like you've taken a couple of really important steps towards achieving your goals - totalling up your debt and ditching sky! Well done and good luck.

If you post your SOA on here others will be able to take a look at it and suggest ways to cut expenditure and reduce your debts. There's a sticky at the top of the board which will give you a template for doing this.

pinkskyatnight · 8 November 2012 at 4:50PM

unimaginative_user_name wrote: »

Hi pinkskyatnight!

It sounds like you've taken a couple of really important steps towards achieving your goals - totalling up your debt and ditching sky! Well done and good luck.

If you post your SOA on here others will be able to take a look at it and suggest ways to cut expenditure and reduce your debts. There's a sticky at the top of the board which will give you a template for doing this.

thanks for much for your kind message!
i have done a SOA but havent posted yet as i am between getting a payrise and we are spending quite a lot on the house at the moment, we bought it a year ago and needed complete renovations and we plan to put on the market in September 2013 as anytime before then we will have to pay a high repayment charge.. so everythings a bit up in the air and i think people are going to think i am mental with the amount of money i have left a month after bills and why i am complaining lol but its more the fact that i want to start paying more of my debts rather than just the minimum monthly charge that just about covers the interest!

harrys_dad · 8 November 2012 at 4:54PM

Well done for getting started. Even though you say your position is changing it might still be worth putting up an SOA, and seeing whata dvice people have.