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  • FIRST POST
    • illustrateddame
    • By illustrateddame 12th Sep 16, 8:17 PM
    • 18Posts
    • 24Thanks
    illustrateddame
    Finally on the road to being debt free...
    • #1
    • 12th Sep 16, 8:17 PM
    Finally on the road to being debt free... 12th Sep 16 at 8:17 PM
    It's only just this past month that I've realised how much debt i'm actually in. I'm so glad I did, otherwise I'd carry on the way I was for who knows how long. I actually can't remember the last time I wasn't trying to pay my card off.

    I finally went through my statements and realised that I have amassed just over £12.5k over 5 CCs! I didn't even realise, I think because I just keep shifting the balance from my main CC, and sort of putting it to the back of my mind, so I "only" had the £3k that was left on that one. I think I had a mini heart attack when I realised the true amount. I dread to think how much money I have paid back to them that's gone basically nowhere.

    I hope to be debt free in May next year, before my 30th, but a concern I have is that my family don't know how much debt I'm in, and I just constantly worry about them finding out. They know I have one credit card because they know I'm trying to pay it off, but it's so hard to tell them why I can't afford great Christmas or birthday presents, or when my partner is speaking about going on holiday again. It's so difficult to say no to things like that. I don't want to tell them and I don't want them to know. I'm disappointed enough in myself without adding them to it, and I know for sure my dad would hit the roof as he is a "if you don't have the cash for it you can't get it" man. If only I'd listened!

    I guess I just wanted someone to know that I am getting on top of it now, without having to disappoint anyone when they find out the truth.

    Phew!
Page 1
    • little_miss_spendtoomuch
    • By little_miss_spendtoomuch 13th Sep 16, 8:32 AM
    • 96 Posts
    • 159 Thanks
    little_miss_spendtoomuch
    • #2
    • 13th Sep 16, 8:32 AM
    • #2
    • 13th Sep 16, 8:32 AM
    Hey!
    Good luck on your new journey. You're not alone here.

    Your debt is about the same amount I started with. It's taken me a year to nearly halve it. Seems like forever! That would be amazing if you could clear it all by May!
    I was the same as you in not wanting my family to know but when I told my parents I felt so much better about it. Obviously they weren't happy but they understand how easy it is to get into debt and it helps at christmas and birthdays when I'm now not spending the amount I used to.

    My husband has always known about my debt and he stilled married me

    Have you go a plan in place of how much you're going to pay off each month? Are there any areas in your life you can cut back on?

    Good luck xx
    May 2015: £11685.56 / November 2016: £6000
    Holiday 2017: £900.55 / £1500
    Joint house savings: £1130
    Christmas fund: £100
    • illustrateddame
    • By illustrateddame 13th Sep 16, 9:09 AM
    • 18 Posts
    • 24 Thanks
    illustrateddame
    • #3
    • 13th Sep 16, 9:09 AM
    • #3
    • 13th Sep 16, 9:09 AM
    Thanks Little Miss!

    I think that was wishful thinking on my part, I meant to put May 2018, just wish it was next year! 2018 seems such a long way away!

    I've always had a plan and paid off £650 to one card, then the minimum to the others, but it's the extra spending that's been setting me back. I've now taken just what I need for food for the week out of my account in cash, and left everything else at home, even my debit card. I have been quite good in that when I shift balances, those new CCs go straight in a drawer and aren't touched. Whatever I have left at the end of the month is going towards it too, though that will vary, especially now coming up to christmas.

    I'm trying to do as much of my shopping as I can online too, so that I'm not tempted when I walk past stuff to throw it in my basket! I'm also selling old CDs I don't need/listen to, my old iPod is on for sale, and I found an old piggy bank that had £42 in it! Going straight to paying off the CCs.

    I just hope that I can stick to it this time, but I'm pretty sure that the shock of my debt means I will!
    Debt at 04/09/2016 = £12,757.68 / Debt today = £10,764.79
    DFD: May 2018 (hopefully!)
    • monz
    • By monz 13th Sep 16, 9:16 AM
    • 1,954 Posts
    • 4,105 Thanks
    monz
    • #4
    • 13th Sep 16, 9:16 AM
    • #4
    • 13th Sep 16, 9:16 AM
    You can do it x
    Debt (1/9/14) £6,702.11 Debt free (30/11/2016)
    Florida 2017 saving £2,698.95 (shd be £2,778.93/£80 short)
    Gym 0/15 Dec
    house deposit £3,500.02/10,000
    Xmas 2017 - 10/365 No.35
    • enthusiasticsaver
    • By enthusiasticsaver 13th Sep 16, 11:39 AM
    • 2,571 Posts
    • 4,381 Thanks
    enthusiasticsaver
    • #5
    • 13th Sep 16, 11:39 AM
    • #5
    • 13th Sep 16, 11:39 AM
    Well done for realising you need to tackle this and compared to many others 18 months to get it repaid will go very quickly. You are still relatively young so valuable lesson to learn.
    Debt and mortgage free and saving for early retirement
    • little_miss_spendtoomuch
    • By little_miss_spendtoomuch 13th Sep 16, 11:42 AM
    • 96 Posts
    • 159 Thanks
    little_miss_spendtoomuch
    • #6
    • 13th Sep 16, 11:42 AM
    • #6
    • 13th Sep 16, 11:42 AM
    Sounds like your head is in the right place.

    I started reducing my debt in May last year. Set up direct debits and just forgot about it. It was going quick enough though and I was still spending on things I didn't need. So this Summer i sat down and looked through all my debt and spending and realised I had to change or I would be paying it off for years.
    I increased my payments and have cut back on my spending. It's hard believe me. It's hard to break old habits. I had this spending credit card and if I wanted something I bought it but with this card I always paid the balance off each month. This was a vicious cycle as I was then always using the card to cover the costs of what I had paid off on it. I haven't used my credit card since June and I'm doing ok. Saving for things I want.
    It's not easy and sometimes I just want to use it and worry about the cost later but I have managed to stop myself.
    I'm hoping to be debt free by September next year.
    Don't be too hard on yourself. Make sure you leave yourself some money each month to do things you enjoy x
    May 2015: £11685.56 / November 2016: £6000
    Holiday 2017: £900.55 / £1500
    Joint house savings: £1130
    Christmas fund: £100
    • illustrateddame
    • By illustrateddame 14th Sep 16, 2:53 PM
    • 18 Posts
    • 24 Thanks
    illustrateddame
    • #7
    • 14th Sep 16, 2:53 PM
    • #7
    • 14th Sep 16, 2:53 PM
    Thank you guys for the support! It means a lot, really

    Today should be a mostly NSD, I have the day off work as my OH is getting Sky put into his new place (he moved this week) and he couldn't get the day off to stay in.

    I was going to head into town to get some bits, like birthday cards and toiletries, though. Most of that I can use Boots points for, and I have a gift card as well that I haven't used yet, so that can get put to good use, rather than frivolous stuff.

    The weather's gone a bit naff though, so I may just stay in and take advantage of the fact that I won't be near any shops!
    Debt at 04/09/2016 = £12,757.68 / Debt today = £10,764.79
    DFD: May 2018 (hopefully!)
    • illustrateddame
    • By illustrateddame 14th Sep 16, 3:04 PM
    • 18 Posts
    • 24 Thanks
    illustrateddame
    • #8
    • 14th Sep 16, 3:04 PM
    • #8
    • 14th Sep 16, 3:04 PM
    Urgh, just noticed my mobile bill is £33 instead of the usual £17 as I got data bundles whilst on holiday last month (needed to keep up to date with a course and test results of exams). I thought this had been paid already I clearly need to check more carefully!
    Debt at 04/09/2016 = £12,757.68 / Debt today = £10,764.79
    DFD: May 2018 (hopefully!)
    • monz
    • By monz 15th Sep 16, 9:38 AM
    • 1,954 Posts
    • 4,105 Thanks
    monz
    • #9
    • 15th Sep 16, 9:38 AM
    • #9
    • 15th Sep 16, 9:38 AM
    Dont beat yourself up.. Takes a couple months really to sort out the ins and outs of your bank details. Make a spread sheet. This helps me so much x
    Debt (1/9/14) £6,702.11 Debt free (30/11/2016)
    Florida 2017 saving £2,698.95 (shd be £2,778.93/£80 short)
    Gym 0/15 Dec
    house deposit £3,500.02/10,000
    Xmas 2017 - 10/365 No.35
    • illustrateddame
    • By illustrateddame 15th Sep 16, 10:57 AM
    • 18 Posts
    • 24 Thanks
    illustrateddame
    Thanks Monz, I know, it'll take time to really sort all the bits and pieces, but I've started to keep a track of things on my phone, since I have with with me all the time anyway.

    I was hoping for a NSD today, but got to work and realised that I had no milk, and as I'll be staying late to do overtime I'll need supper too. Glad I've got a reason to do overtime again (boss is going on holiday soon so is really churning out the work). I much prefer to work over my lunch as it doesn't feel any longer than the normal day since I can eat at my desk, but I must admit that being able to do an extra 3 or 4 hours and the end of the day feels like more of an achievement.

    Normally, any overtime I would use for going out with my OH or just for stuff I fancied. I've taken a stand now with myself haha and since I don't actually NEED anything, there's nothing I should be buying unless it's an emergency, and I've budgeted an allowance for doing things with the OH. My overtime can now go towards my debt, with feels great to be honest.
    Debt at 04/09/2016 = £12,757.68 / Debt today = £10,764.79
    DFD: May 2018 (hopefully!)
    • DD265
    • By DD265 15th Sep 16, 12:54 PM
    • 1,115 Posts
    • 2,672 Thanks
    DD265
    It sounds like you're doing great. I did find it takes a little while to get on top of everything so don't beat yourself up about the phone bill.


    I recommend YNAB if you don't have a budgeting tool already. It's not free, but in the grand scheme of things £30 (if you buy the older desktop version, rather than the subscription based cloud version) isn't much in the grand scheme of things. I love it, I'm really good at updating it at home daily, not quite so much out and about on my mobile though.
    Barclaycard: £1795.61/£2907.26 - 38% paid
    MBNA: £2,613.57/£3866.92 - 32% paid
    • illustrateddame
    • By illustrateddame 15th Sep 16, 2:02 PM
    • 18 Posts
    • 24 Thanks
    illustrateddame
    Thanks DD, I have had a quick look at YNAB, but honestly I have hardly any expenses at the moment. It's less of a budgeting thing than a stop spending on crp I dont need thing.
    Debt at 04/09/2016 = £12,757.68 / Debt today = £10,764.79
    DFD: May 2018 (hopefully!)
    • illustrateddame
    • By illustrateddame 16th Sep 16, 6:31 PM
    • 18 Posts
    • 24 Thanks
    illustrateddame
    So had a no spend day today. Would like to keep it going tomorrow, but my mum, sister and I are going to the cinema to see the new Bridget Jones movie. I'll get sweets from the shops before since they are so expensive at the cinema! Will be heading to the bank too to finally put the £42 in change I have and get a top, with birthday vouchers from this year, for my next night out. I have no nice going out clothes really, but do have jeans and shoes I could get away with, so just a top it is. I'm a total lightweight, so hoping I can get away with just £20 for the whole night as well. Fingers crossed.
    Debt at 04/09/2016 = £12,757.68 / Debt today = £10,764.79
    DFD: May 2018 (hopefully!)
    • illustrateddame
    • By illustrateddame 17th Sep 16, 11:39 PM
    • 18 Posts
    • 24 Thanks
    illustrateddame
    Well, trip to the cinema actually came out costing 0! My sister still had some vouchers left after the tickets, so was able to get juice and a hotdog for nothing

    Also signed up for the free trial of YNAB today, 34 days to decide if I can figure it out enough to use and pay for it. Not going amazing so far but I'm sure it'll click eventually.
    Debt at 04/09/2016 = £12,757.68 / Debt today = £10,764.79
    DFD: May 2018 (hopefully!)
    • illustrateddame
    • By illustrateddame 18th Sep 16, 8:18 PM
    • 18 Posts
    • 24 Thanks
    illustrateddame
    Had another NSD today, lovely lazy Sunday in my pjs watching soppy movies. Why not!

    My iPod also sold on eBay, and managed to make £74! Was only hoping for £50 since it's an older one, so I'm quite pleased with that. It will all be going to my credit card, but just leaving it in my main account for now until all the fees from both them and PayPal come off and I can see what I'm properly left with. Hoping for around the £70 mark as I think I signed up for a 'sell your first 3 electronic items for £3', but I don't know if it worked. We'll see.

    Add that to the £42 I STILL have to put into the bank in change, and thats about £110 extra I can pay off this month.

    Just want to see the balances start to go down now!
    Debt at 04/09/2016 = £12,757.68 / Debt today = £10,764.79
    DFD: May 2018 (hopefully!)
    • illustrateddame
    • By illustrateddame 19th Sep 16, 7:17 PM
    • 18 Posts
    • 24 Thanks
    illustrateddame
    Not a NSD today, but just getting supplies to last me for the week at work, like crisps and yoghurt, and it came to £2.50. Hopefully will just need some more milk in a few days and that should do me.

    Sent my iPod away to its new home as well, but actually feel ripped off by the Post Office. Went asking for 1st class signed for which their website said was £4.45, and what I charged the buyer. They then refused to let me send it like that as since it was an iPod it was "extremely valuable" (£74!!) and that it had to be sent by special delivery. £7.25! I hate when unexpected things like that eat into profits. MusicMagpie also confirmed that they are sending me the money for my CDs....all £6.82

    Anyway, managed to have a nice Caffe Nero for nothing since the OH paid I actually told him as well about my debts....all of them. Such a relief! I can't remember how we got into talking about it, but I remember mentioning that I was setting myself a budget to pay them off and he asked how much there was. Eep. He actually wasn't too bothered, glad I think that I have a plan to pay things off. He said that he had had about the same in students loans and was really relieved when he managed to get them paid off, since it's so stressful. It was nice to talk about it to be honest, and hopefully now when I say that I can't really afford x or y, he'll realise that it's true!
    Debt at 04/09/2016 = £12,757.68 / Debt today = £10,764.79
    DFD: May 2018 (hopefully!)
    • illustrateddame
    • By illustrateddame 26th Sep 16, 11:44 AM
    • 18 Posts
    • 24 Thanks
    illustrateddame
    Ok, so I've managed NSDs pretty much all this week, all that I have spent has been out of my groceries budget, or on vouchers that I had from my last birthday, so I think I'm doing well, for like the 3 weeks since I realised my mountain of debt. I do have a night out next Saturday, but that's budgeted for, so don't feel too bad about that.

    I managed to put £120 ish to my debt this month, which was extra from selling things and finally getting that piggy bank change into my account. But then the final interest on my non 0% card was applied (it will finally be fully paid off on Friday when I next get paid) and that was a bit of a kick in the teeth as it was £60 so not as much towards my debt as I had hoped, but at least the interest didn't add to it. That would have been much worse.

    I have spent a lot of time going through my budget and seeing what actually comes in and goes out. It seriously is just spending money on things I want, spur of the moment "oh that's nice!" things. I could actually have my debt paid off by December 2017 rather than May 2018, IF my calculations are correct, and IF I actually stick to my budgeting. I've done well so far with not buying things that I don't need, actually taking a minute to check if I want or need it, and whether I would prefer that money goes to clearing debts seems to be doing the trick.

    It's going to be harder coming up to Christmas, as between now and then there is also my OH's birthday, our anniversary and my mums birthday, so every day at a time I suppose!
    Debt at 04/09/2016 = £12,757.68 / Debt today = £10,764.79
    DFD: May 2018 (hopefully!)
    • illustrateddame
    • By illustrateddame 4th Oct 16, 10:57 PM
    • 18 Posts
    • 24 Thanks
    illustrateddame
    Well I've been managing to stick to my budget, my night out Saturday past came in £1 under, which included a well needed chips and cheese at the end of the night

    Been invited to a birthday do in November, which is nice, but there is a theme which requires a costume, or at least the purchase of a frilly skirt since I don't have anything I could magic into a costume. So there's that, plus food and drinks, before two games of bowling, then the birthday girl wants to head into town on the lash too!

    Bit of a crisis as she is needing the bowling paid now to secure the booking, so I have taken it out of next weeks entertainment budget rather than this weeks, as I need to use that for my anniversary date night

    It's been nice to sort of see my weekly budgets set out, and see that things can be affordable, I just have to be really careful. Before I would have just bought stuff on cards, christmas and birthday spending willynilly too!

    Also, waiting to update how much I've paid off this month until all my statements get updated, so I can pay minimum to most cards and a whack to another.

    Managed to clear the balance on the BCard tho, but I stupidly switched a 24 for a 42 and now I'm in credit. Can I just buy £18 worth of stuff on the card for essentially nothing?? Seems a daft question but I just want to check!
    Debt at 04/09/2016 = £12,757.68 / Debt today = £10,764.79
    DFD: May 2018 (hopefully!)
    • illustrateddame
    • By illustrateddame 15th Oct 16, 12:08 PM
    • 18 Posts
    • 24 Thanks
    illustrateddame
    Not been anything major happening lately, to be honest. I've been managing to stick to my budget, and also have most of my christmas shopping done, only need to get the OHs now All within budget too!

    I've gone through the likes of my apple and amazon account deleting my credit card from them. Don't know why I didn't do it before. I haven't bought anything with them, and don't want to, but just the thought that I could because the cards were still attached bothered me, so that's done too now.

    I also went and changed my apple ID password, as I got an email about appointments that had been made for me, that I didn't make, and when I checked it was stored in my reservations! So a bit freaked out but hopefully sorted!
    Debt at 04/09/2016 = £12,757.68 / Debt today = £10,764.79
    DFD: May 2018 (hopefully!)
    • Purplemumof2
    • By Purplemumof2 16th Oct 16, 8:00 AM
    • 3,931 Posts
    • 11,553 Thanks
    Purplemumof2
    Morning,

    You're doing really well, keep going x
    Official DFW Nerd Club - Member no. 791 - Proud to be dealing with my debts
    BC: £8850.00 Overdraft: £2750.00

    15 NSD - 8/15, 10 LSD - 3/10, 15 AFD - 1/15, Lunches to work 9/20

    20p Savers 2016 £2 Savers 2016 50p Savers 2016 SPC 9 2016 #003
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