Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • GeorgianaCavendish
    • By GeorgianaCavendish 27th Jan 17, 5:30 PM
    • 507Posts
    • 2,245Thanks
    GeorgianaCavendish
    Small Steps Out Of Massive Debt!
    • #1
    • 27th Jan 17, 5:30 PM
    Small Steps Out Of Massive Debt! 27th Jan 17 at 5:30 PM
    Hi Everyone,

    I'm so glad that I've found this website because I really need to get serious and DO SOMETHING about my debts. I thought that keeping a diary on this forum would keep me accountable.

    I have taken stock and I have over £35,000 of personal debt on loans and credit cards, which does not include my Student Loan (around £18,000 but I need to check the last statement). I have no savings at all and am living pay day to pay day. I have a pension, which is probably the only semi-financially responsible thing I've done in my whole life.

    I have always had a problem with spending money. I never knew when it was time to stop spending. The idea of a budget was a foreign concept. I'd spend until everything had gone, whether that was my wages, student loan payments or birthday money. I go through phases of pretending to be responsible and looking at debt consolidation, but what usually happens is that I don't close the old accounts so a few months down the line I end up spending money on the cleared card.

    I know that I need to sort out my spending and to take a brutal look at the state of my finances and what I spend money on. I need to stop seeing credit limits as targets to reach (!!!!) and start seeing them for what they are - invitations to get into debt!

    This is what I have outstanding:

    £13000 on personal loan
    £10500 Barclaycard
    £8000 MBNA
    £2500 HSBC
    £870 on catalog
    £800 left on furniture (this one is interest free, there are 9 repayments left)

    I've been reading the advice for newbies threads so this weekend I am going to go through my last bank & cc statements with a fine tooth comb to work out what I am spending money on, and I'm going to find out the interest rates on all my credit accounts.

    Thanks for reading and wish me luck!


    PS. My forum name is from a Duchess in the 1700s. She was so bad with money that after she died her husband found out she was around 4 million pounds in debt. Sadly I could imagine this happening to me if I had access to that much credit
    Last edited by GeorgianaCavendish; 07-03-2017 at 3:31 PM.
Page 26
    • GeorgianaCavendish
    • By GeorgianaCavendish 11th Jul 17, 2:35 PM
    • 507 Posts
    • 2,245 Thanks
    GeorgianaCavendish
    Great work all round there then - you're doing so well at this!
    Originally posted by EssexHebridean
    Thank you! Slowly but surely I'm getting there I can't wait to get more of the BC debt shifted onto 0%!
    Georgiana, Duchess of Debt-shire's July 2017 Debt Totals: HSBC Loan £11,362.14 / MBNA £3318.34 / Barclaycard £6360.70 / Lloyds £3560 / Tesco £972.50/ Dreams £259

    And don't forget the Student Loan! £10,765.93 (April 2017)
    • GeorgianaCavendish
    • By GeorgianaCavendish 11th Jul 17, 2:45 PM
    • 507 Posts
    • 2,245 Thanks
    GeorgianaCavendish
    July Goals
    Well, I'm posting this very late in the month, aren't I? But better late than never!

    July Goals

    Financial Goals

    1. Balance transfer as much of the Barclaycard debt as possible to 0%
    2. Make overpayment to Barclaycard to cancel out July interest and round down the balance to the nearest £50.
    3. Revisit budget
    4. Check renewal date for home insurance policy (getting way ahead of myself, I believe it renews in January but I know that I am in line for some good savings on this policy)

    Other Goals

    5.. Draw up new study timetable
    6. First draft of Assignment 1 and Assignment 2 submitted
    7. Continue with realistic meal plans every week and meal prep every Sunday
    8. Walk part of my commute every day and go for a long(er) walk every weekend
    9. Get to the swimming pool! Go swimming once a week ...
    10. Yoga workout once a week at home
    11. Kettlebell workout twice a week
    12. Book in a couple of social weekends for August/September time (we've got invitations to visit friends and family in Somerset and Devon, would love to get a couple of cheap mini-breaks in while the weather is nice!)
    Georgiana, Duchess of Debt-shire's July 2017 Debt Totals: HSBC Loan £11,362.14 / MBNA £3318.34 / Barclaycard £6360.70 / Lloyds £3560 / Tesco £972.50/ Dreams £259

    And don't forget the Student Loan! £10,765.93 (April 2017)
    • Purplemumof2
    • By Purplemumof2 11th Jul 17, 3:00 PM
    • 4,947 Posts
    • 16,040 Thanks
    Purplemumof2
    Hiya,

    Your goals look good x
    Official DFW Nerd Club - Member no. 791 - Proud to be dealing with my debts
    MBNA: £7550.00 Cap 1: £557.64 BC: £4040.00 Overdraft: £2750.00



    20p Savers 2017 £2 Savers 2017 50p Savers 2017 SPC 10 2017 #003
    • enthusiasticsaver
    • By enthusiasticsaver 11th Jul 17, 3:14 PM
    • 4,005 Posts
    • 7,196 Thanks
    enthusiasticsaver
    Doing well and glad you focussing on Barclaycard and have managed to move some to a 0% with Lloyds. Presumably once the furniture finance has gone you will be able to pay more to clear the Barclaycard?
    Countdown to early retirement on 31.12.17 4.5 months to go.
    • GeorgianaCavendish
    • By GeorgianaCavendish 11th Jul 17, 3:31 PM
    • 507 Posts
    • 2,245 Thanks
    GeorgianaCavendish
    Hiya,

    Your goals look good x
    Originally posted by Purplemumof2
    Thank you!
    Georgiana, Duchess of Debt-shire's July 2017 Debt Totals: HSBC Loan £11,362.14 / MBNA £3318.34 / Barclaycard £6360.70 / Lloyds £3560 / Tesco £972.50/ Dreams £259

    And don't forget the Student Loan! £10,765.93 (April 2017)
    • GeorgianaCavendish
    • By GeorgianaCavendish 11th Jul 17, 3:32 PM
    • 507 Posts
    • 2,245 Thanks
    GeorgianaCavendish
    Doing well and glad you focussing on Barclaycard and have managed to move some to a 0% with Lloyds. Presumably once the furniture finance has gone you will be able to pay more to clear the Barclaycard?
    Originally posted by enthusiasticsaver
    Thank you! Yes indeed, once the furniture finance is gone I'll be able to put that £85 a month towards Barclaycard. Last payment on furniture is in September so B/Card overpayment will be from October onwards.
    Georgiana, Duchess of Debt-shire's July 2017 Debt Totals: HSBC Loan £11,362.14 / MBNA £3318.34 / Barclaycard £6360.70 / Lloyds £3560 / Tesco £972.50/ Dreams £259

    And don't forget the Student Loan! £10,765.93 (April 2017)
    • GeorgianaCavendish
    • By GeorgianaCavendish 13th Jul 17, 9:54 AM
    • 507 Posts
    • 2,245 Thanks
    GeorgianaCavendish
    Email from Lloyds saying that the balance transfer failed. I entered details of the balance transfer I wanted to make when I applied for the card, I think that possibly I made a mistake with the card number ... not too worried, will just wait for the Lloyds card and internet banking log on to arrive and try again.

    What a shame Murray is out of Wimbledon, there goes my office sweepstake entry! still cheering for Konta though
    Georgiana, Duchess of Debt-shire's July 2017 Debt Totals: HSBC Loan £11,362.14 / MBNA £3318.34 / Barclaycard £6360.70 / Lloyds £3560 / Tesco £972.50/ Dreams £259

    And don't forget the Student Loan! £10,765.93 (April 2017)
    • Hiddenidenity
    • By Hiddenidenity 13th Jul 17, 10:48 AM
    • 4,460 Posts
    • 18,165 Thanks
    Hiddenidenity
    Tennis I was so gutted for him, hopefully he will take time to recover properly now before playing in the US

    Have a lovely day x
    DFW £953.71/£7348.71 Rent Arrears £391.28/£3381.28

    June 17 PA £121.25 + £70 Cash + £50 Amazon
    July 17 PA £259.95 + £25 Cash + £65 Amazon
    August 17 PA £98.93 + £83.08 Cash + £80 Amazon
    • GeorgianaCavendish
    • By GeorgianaCavendish 13th Jul 17, 6:12 PM
    • 507 Posts
    • 2,245 Thanks
    GeorgianaCavendish
    Tennis I was so gutted for him, hopefully he will take time to recover properly now before playing in the US

    Have a lovely day x
    Originally posted by Hiddenidenity
    Poor Andy and now poor Johanna!
    Georgiana, Duchess of Debt-shire's July 2017 Debt Totals: HSBC Loan £11,362.14 / MBNA £3318.34 / Barclaycard £6360.70 / Lloyds £3560 / Tesco £972.50/ Dreams £259

    And don't forget the Student Loan! £10,765.93 (April 2017)
    • GeorgianaCavendish
    • By GeorgianaCavendish 13th Jul 17, 6:14 PM
    • 507 Posts
    • 2,245 Thanks
    GeorgianaCavendish
    OK, Lloyds stuff has arrived and balance transfer of £3500 from Barclaycard has been requested. Unfortunately there is a fee, it will be £105 in total but the interest free period is longer than I had expected so it is still worthwhile by my calculations.

    Focus group done too - I was expecting £50 but received £60
    Georgiana, Duchess of Debt-shire's July 2017 Debt Totals: HSBC Loan £11,362.14 / MBNA £3318.34 / Barclaycard £6360.70 / Lloyds £3560 / Tesco £972.50/ Dreams £259

    And don't forget the Student Loan! £10,765.93 (April 2017)
    • GeorgianaCavendish
    • By GeorgianaCavendish 14th Jul 17, 7:46 AM
    • 507 Posts
    • 2,245 Thanks
    GeorgianaCavendish
    I'm so glad it's Friday! I'm so knackered today, can't wait for the weekend.

    Exciting news ... my Barclaycard balance is under £1000!! Paying the rest of this card off feels like less of a mountain to climb now that the amount owing is down to three figures!

    £20 from Topcashback on the way to my bank account, this is the cash back from the Marrakech trip. Got £50 pending from signing up for Tesco & Lloyds CCs.

    I've got a few home insurance quotes, we can definitely get this cheaper when current policy ends (by at least £50 a year). Currently paying on a monthly basis which is more expensive, so I'm going to use the next 5 months to save enough to pay upfront for a new policy. Will definitely try to go through Topcashback when buying new policy!

    I'm trying to get OH to go for cheaper Netflix subscription (he pays for the most expensive 4 screen option even though we only use it at home & occasionally he uses it on his phone) but he's not been bitten by the money saving bug like me and says its only £2 a month and he "can't be bothered" Don't worry, I'm going to keep working on him!
    Georgiana, Duchess of Debt-shire's July 2017 Debt Totals: HSBC Loan £11,362.14 / MBNA £3318.34 / Barclaycard £6360.70 / Lloyds £3560 / Tesco £972.50/ Dreams £259

    And don't forget the Student Loan! £10,765.93 (April 2017)
    • enthusiasticsaver
    • By enthusiasticsaver 14th Jul 17, 8:05 AM
    • 4,005 Posts
    • 7,196 Thanks
    enthusiasticsaver
    Your OH sounds like mine. He just does not get that the small savings all add up. £2 a month is £24 a year after all. It is a simple phone call for goodness sake or I think you can change the Netflix sub online. Can you not do it? I get you should not have to though and he should make the effort.
    Countdown to early retirement on 31.12.17 4.5 months to go.
    • GeorgianaCavendish
    • By GeorgianaCavendish 14th Jul 17, 11:11 AM
    • 507 Posts
    • 2,245 Thanks
    GeorgianaCavendish
    Your OH sounds like mine. He just does not get that the small savings all add up. £2 a month is £24 a year after all. It is a simple phone call for goodness sake or I think you can change the Netflix sub online. Can you not do it? I get you should not have to though and he should make the effort.
    Originally posted by enthusiasticsaver
    Especially because £24 is a third of the cost of the Amazon Prime subscription, or 3.5 months of the cheaper Netflix subscription.
    He was quite narky about it this morning but that was pre-coffee and he was rushing around trying to find his gym stuff. I will approach it again on Sunday when he's full of brunch. Sometimes he disagrees with me only to announce that he's had an "amazing idea" a few weeks later, and then deny that he even heard me suggesting it the first time around

    Unfortunately, Netflix is in his name and its his card details / log in - if I could change it I would just go ahead and do it. He'd never notice it! However, I did say last week that he should really update the Netflix details so the money is coming out of our bills account (which I control) and he liked that idea, so I think I will stage a Netflix-coup and sort it out

    He's been talking about how he's going to switch gyms to the free one at his work because he'd be saving "the cost of a Sky package every month". I thought this was just an example but no, it seems he wants to get a Sky package. I'm really going to put my foot down because we already have Netflix & Amazon. He has access to Sky on his laptop (via his brother's account ... don't ask) so we can watch Game of Thrones and the F1. There is nothing else we watch on Sky that isn't available on Netflix or Amazon.
    Georgiana, Duchess of Debt-shire's July 2017 Debt Totals: HSBC Loan £11,362.14 / MBNA £3318.34 / Barclaycard £6360.70 / Lloyds £3560 / Tesco £972.50/ Dreams £259

    And don't forget the Student Loan! £10,765.93 (April 2017)
    • GeorgianaCavendish
    • By GeorgianaCavendish 14th Jul 17, 11:18 AM
    • 507 Posts
    • 2,245 Thanks
    GeorgianaCavendish
    My jeans, that were admittedly looking pretty past-it, now have a massive hole. I was trying to hold out until next month to buy a pair, partly because I've become addicted to stretching out the time before I buy things and partly because I hate jeans shopping. This particular style isn't in the shops anymore.
    BUT, I googled the style number from the label and found surplus stock being sold on ebay for half price. There are a few sellers and lots of pairs left so I'm not worried about them selling out, I will wait until my cashback reward hits my account before purchasing.

    I'm doubly pleased that I get new jeans for £18 and that I don't have to waste part of my weekend trying on 39 thousand pairs of jeans that I hate
    Georgiana, Duchess of Debt-shire's July 2017 Debt Totals: HSBC Loan £11,362.14 / MBNA £3318.34 / Barclaycard £6360.70 / Lloyds £3560 / Tesco £972.50/ Dreams £259

    And don't forget the Student Loan! £10,765.93 (April 2017)
    • JoJoC
    • By JoJoC 14th Jul 17, 11:56 AM
    • 1,148 Posts
    • 3,532 Thanks
    JoJoC
    Your husband sounds very like mine... Good luck with all the convincing! It's not easy when the other halves aren't committed. Mine is committed in theory but in practice it's a whole other story.

    Good news on the jeans! We spoke about jeans 1-2 months ago and I still haven't bought any, although the situation is getting desperate now!
    CC1: 3,774.32/4,200 | CC2: 5,077/5,393 | Loan: 7,430/15,000
    Total: 16,292.57/20,032 Paid since Feb17: 3,739 or 18.66%

    Mummy of two boys - Working hard to make better financial choices!
    *My debt busting and savings diary*
    • Hiddenidenity
    • By Hiddenidenity 14th Jul 17, 12:26 PM
    • 4,460 Posts
    • 18,165 Thanks
    Hiddenidenity

    Good news on the jeans! We spoke about jeans 1-2 months ago and I still haven't bought any, although the situation is getting desperate now!
    Originally posted by JoJoC
    Me too

    I need to look, I was hoping to get some in the Next sale but none in the VIP slot took my eye
    DFW £953.71/£7348.71 Rent Arrears £391.28/£3381.28

    June 17 PA £121.25 + £70 Cash + £50 Amazon
    July 17 PA £259.95 + £25 Cash + £65 Amazon
    August 17 PA £98.93 + £83.08 Cash + £80 Amazon
    • Hiddenidenity
    • By Hiddenidenity 14th Jul 17, 12:27 PM
    • 4,460 Posts
    • 18,165 Thanks
    Hiddenidenity
    Well done on the transfers You'll soon see it reducing a lot quicker now things are on 0%
    DFW £953.71/£7348.71 Rent Arrears £391.28/£3381.28

    June 17 PA £121.25 + £70 Cash + £50 Amazon
    July 17 PA £259.95 + £25 Cash + £65 Amazon
    August 17 PA £98.93 + £83.08 Cash + £80 Amazon
    • GeorgianaCavendish
    • By GeorgianaCavendish 15th Jul 17, 11:55 AM
    • 507 Posts
    • 2,245 Thanks
    GeorgianaCavendish
    Your husband sounds very like mine... Good luck with all the convincing! It's not easy when the other halves aren't committed. Mine is committed in theory but in practice it's a whole other story.

    Good news on the jeans! We spoke about jeans 1-2 months ago and I still haven't bought any, although the situation is getting desperate now!
    Originally posted by JoJoC
    Hopefully we'll get them full on the MSE bandwagon

    I'm so pleased about the jeans, fingers crossed there is nothing weird about them when they arrive I would have waited but my old pair now have a massive hole in the thigh and there is no fixing it without a very obvious patch. And they aren't the kind of jeans that look good with a patch (and also, if I'm being honest, I am terrible at sewing so would have to pay to get them fixed)

    Me too

    I need to look, I was hoping to get some in the Next sale but none in the VIP slot took my eye
    Originally posted by Hiddenidenity
    Ah, I never get on well with Next jeans, shame because there are some lovely looking ones Check out ebay though, I was so impressed!
    Georgiana, Duchess of Debt-shire's July 2017 Debt Totals: HSBC Loan £11,362.14 / MBNA £3318.34 / Barclaycard £6360.70 / Lloyds £3560 / Tesco £972.50/ Dreams £259

    And don't forget the Student Loan! £10,765.93 (April 2017)
    • GeorgianaCavendish
    • By GeorgianaCavendish 15th Jul 17, 11:56 AM
    • 507 Posts
    • 2,245 Thanks
    GeorgianaCavendish
    Well done on the transfers You'll soon see it reducing a lot quicker now things are on 0%
    Originally posted by Hiddenidenity
    Thank you! Yes, it will make an enormous difference - I'm beyond pleased that I was able to get some 0% offers! I had a dream about making balance transfers last night
    Georgiana, Duchess of Debt-shire's July 2017 Debt Totals: HSBC Loan £11,362.14 / MBNA £3318.34 / Barclaycard £6360.70 / Lloyds £3560 / Tesco £972.50/ Dreams £259

    And don't forget the Student Loan! £10,765.93 (April 2017)
    • armchairexpert
    • By armchairexpert 16th Jul 17, 4:40 AM
    • 552 Posts
    • 3,598 Thanks
    armchairexpert
    Love the Netflix-coup! Would your OH consider swapping the Sky package for the Amazon one, instead of adding things in? I don't really know how much each of those costs so it might be a stupid suggestion.
    MFW diary here. 1 Feb 2017 $229,371 - MFD Feb 2043 aiming for May 2028
    14 August 2017 - Refinanced: $220,000
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

3,652Posts Today

8,627Users online

Martin's Twitter