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    • GeorgianaCavendish
    • By GeorgianaCavendish 27th Jan 17, 5:30 PM
    • 513Posts
    • 2,350Thanks
    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 33
    • GeorgianaCavendish
    • By GeorgianaCavendish 29th Aug 17, 10:35 AM
    • 513 Posts
    • 2,350 Thanks
    GeorgianaCavendish
    Well done on increasing pension contribution. Your future self will thank you for it. Most tax efficient way of saving and getting free money from HMRC and sometimes your employer if they increase their contribution along with you.
    Originally posted by enthusiasticsaver
    Thank you! My employer is only matching up to 3% for now, but next year I'll move into the next age band on the scheme and they'll match up to 5%. I'll be increasing my contributions again accordingly!
    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)
    • redofromstart
    • By redofromstart 3rd Sep 17, 8:30 AM
    • 398 Posts
    • 2,058 Thanks
    redofromstart
    Hope everything is ok with you?

    Penhaligon are doing an online fragrance profiler, with two EDP samples at the end. £5.50 p&p which is high but a good way to try.
    • Orange Ena
    • By Orange Ena 30th Sep 17, 10:27 PM
    • 1,238 Posts
    • 3,265 Thanks
    Orange Ena
    Hope all is ok with you
    Debt April 2015 - £6895.44 Debt April 2017 - £2500 May - £1455 Sept - £900
    CHEFS challenge (Cruise Holiday Entirely Funded by Surveys) - £327.26
    Every penny is a prisoner
    • Hiddenidenity
    • By Hiddenidenity 30th Sep 17, 10:53 PM
    • 5,069 Posts
    • 23,317 Thanks
    Hiddenidenity
    From me too xx
    DFW £1388.71/£7348.71 Rent Arrears £511.28/£3381.28

    Rock bottom became the solid foundation on which I rebuilt my life.
    • JoJoC
    • By JoJoC 2nd Oct 17, 11:16 AM
    • 1,234 Posts
    • 3,931 Thanks
    JoJoC
    Another one hoping all is well with you
    CC1: £3804.52 / £3704.32 £100.20 paid | CC2:£5027.53 / £4927.48 £100.05 paid | Loan: £15,000 / £13,932.24 (£1067.76 paid)

    July debt total: £23,832.05 | New debt total: £22,564.04 | Total debt paid: £1,268.01 (5.3%)
    *My debt busting and savings diary*
    • DrSpendLittle
    • By DrSpendLittle 2nd Oct 17, 11:40 AM
    • 136 Posts
    • 349 Thanks
    DrSpendLittle
    Me tooooooo!
    Since 1st Sept 2017: CC1: £874/£1,253.73 | CC2: £600/£9,124.15 | CC3: £312.34/£312.34 | Car Finance: £315.82/£1,894.92 Short Term CC Goal: £1,786.34/£4,000 by 1st Jan 2018 (44.65%) | Total Debt Repayments: £2,102.16/£12,585.14 (16.70%)
    • EssexHebridean
    • By EssexHebridean 3rd Oct 17, 2:40 PM
    • 8,013 Posts
    • 41,459 Thanks
    EssexHebridean
    C'mon Georgiana - where are you! Hope all's good!
    MORTGAGE FREE 30/09/2016
    Sainsbugs 0% card: 22/12/16 £1229.00/£544.67 (17/10/17)
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