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  • FIRST POST
    • ryry91
    • By ryry91 7th Jan 18, 11:23 AM
    • 15Posts
    • 20Thanks
    ryry91
    My debt struggle
    • #1
    • 7th Jan 18, 11:23 AM
    My debt struggle 7th Jan 18 at 11:23 AM
    Hi guys!
    So I have been trying to keep a debt free diary for some time now after stalking these forums for a goodly while and not really commenting much but this year I thought I would try and commit to something for once and actually get cracking on some of this debt of mine!

    My Story:
    At the tender age of 26 years old, I currently have £8,032.63 worth of debt on various credit cards and catalogues. This does not include a car I have on a PCP deal and paying out for my university fees directly as I do not qualify for student finance (long story).

    How did I get here?
    It is simple really, holidays and living beyond my means! Trying to keep up with friends who are more well off than I am and also trying to help my parents when my Dad was diagnosed with cancer and Mum was laid off from work.

    My Goals:
    My main goal is to be rid of the £8000 ASAP as myself and my fiance are desperately trying to save for a house, although that is becoming increasingly difficult when I have this debt hanging over my shoulders.
    Once this has paid off I will have more money to sort out buying a car outright and can put more money in the savings pot for a house!

    Recently I was dealt a small blow by my job as I need to do a 7 week placement as part of my university course, during these 7 weeks I will not be paid. So I also need to ensure I have money saved for that!

    At the same time as all of this, I have a holiday coming up in August that I need to get spending money together for (ideally £750+). Not asking for much am I?

    Plan of action:
    I currently work in education, I earn just over £1400 a month which I am hoping will increase once I have finished university in 2019! However presentlyt, this is what I have to work with!

    I am looking into getting a second weekend job for a couple of hours, however this is proving to be quite difficult.

    Some people may turn their noses up at it, but I am also doing matched betting. This is something I have done for some time as more of a hobby rather than earning mega-bucks! It earns me roughly £50 a month extra which I am putting into savings for my no-pay period in March and April.

    I am also doing private tutoring 3 days a week, although I get paid every 10 weeks by these as people buy blocks of 10 for a slight discount, the next time I get paid from these is March time.

    Hopefully, I will stick to keeping this updated every week! Best time for me to post will be a Thursday or Friday.
Page 1
    • sourcrates
    • By sourcrates 7th Jan 18, 1:56 PM
    • 13,104 Posts
    • 12,401 Thanks
    sourcrates
    • #2
    • 7th Jan 18, 1:56 PM
    • #2
    • 7th Jan 18, 1:56 PM
    Hi,

    You need to re-post this in debt free diaries, or i can move it for you ?
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Legal advice see : http://legalbeagles.info/
    • ryry91
    • By ryry91 7th Jan 18, 9:22 PM
    • 15 Posts
    • 20 Thanks
    ryry91
    • #3
    • 7th Jan 18, 9:22 PM
    • #3
    • 7th Jan 18, 9:22 PM
    Please move it for me! I thought I posted this in the debt free diaries section! What a doofus!
    • sourcrates
    • By sourcrates 7th Jan 18, 9:30 PM
    • 13,104 Posts
    • 12,401 Thanks
    sourcrates
    • #4
    • 7th Jan 18, 9:30 PM
    • #4
    • 7th Jan 18, 9:30 PM
    Please move it for me! I thought I posted this in the debt free diaries section! What a doofus!
    Originally posted by ryry91
    Doing it now for you.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Legal advice see : http://legalbeagles.info/
    • Poor_Single_lady
    • By Poor_Single_lady 7th Jan 18, 11:33 PM
    • 1,199 Posts
    • 4,674 Thanks
    Poor_Single_lady
    • #5
    • 7th Jan 18, 11:33 PM
    • #5
    • 7th Jan 18, 11:33 PM
    Hello and Welcome.
    Hope keeping a diary is helpful. I'm sure more helpful and knowledgeable people will be along to say hello but just wanted to post to say welcome.

    Wish I had stopped my debt growing at 26! Good luck for your journey.
    2017- 5 credit cards plus loan
    Overdraft And 1 credit card paid off.

    2018 plans - reduce debt
    • fatrab
    • By fatrab 8th Jan 18, 6:34 AM
    • 164 Posts
    • 305 Thanks
    fatrab
    • #6
    • 8th Jan 18, 6:34 AM
    • #6
    • 8th Jan 18, 6:34 AM
    Hi and well done for deciding to sort your debt out!

    Regarding matched betting, I'm no expert but a chap I know does it very successfully, so much so that he paid for his £25k car outright purely from the proceeds of it. But as per every gambler I know, you only ever hear about the wins, never the losses.

    I wish you the very best and look forward to your updates!
    LBM Dec 2017 - Wannabe debt free by Dec 2022 - Wannalose 3st in the process - 10lbs lost so far
    10 x £2 coins (#32) - 10/12 NSD in January
    • ryry91
    • By ryry91 8th Jan 18, 9:39 PM
    • 15 Posts
    • 20 Thanks
    ryry91
    • #7
    • 8th Jan 18, 9:39 PM
    • #7
    • 8th Jan 18, 9:39 PM
    Thank you guys for your kind words, I have done really well today!

    I have a really bad habit at work of going over the shop to get something a bit more interesting than just a plain old sandwich but instead of getting the meal deals like I normally do I have stocked my cupboard with soups for the next week that were on offer so hopefully that will save me a bit of money this week!

    Also made £11 profit on matched betting, which will complete on Friday, was my first time "Dutching" a bet which was really nerve wracking as I had to use a lot of my profit to get a decent pay out. That said I used in conjunction with a qualifying bet which saves me losing a few pennies.

    In terms of the second job, I have had an email today from a charity offering paid work to support children with Autism and giving their families respite which is really exciting! So hopefully something comes out of that! Even if that earned me an extra £100 a month, that is better than nothing at the moment!

    It is all looking positive at the moment, fingers crossed!!
    • ryry91
    • By ryry91 11th Jan 18, 8:38 PM
    • 15 Posts
    • 20 Thanks
    ryry91
    • #8
    • 11th Jan 18, 8:38 PM
    • #8
    • 11th Jan 18, 8:38 PM
    I had a wobble...
    I broke my promise (refuse to call them resolutions) and bought a lunch meal deal! However it isn't as bad as it sounds as it was paid for by finding some spare change in my bag that I didn't know I had! So that isn't all bad!

    In other news, I managed to take on another child for tutoring so that is another £100 coming in a month and I have been offered a zero hour contract with a charity for paid work with a requirement to work at least one weekend a month, so I can pick and choose when I want to work which could be amazing, however I do not want all of my time to be taken up with work, I need to consider what is more important, having a bit of a life, or sacrificing my time for the moment and paying off all my debts.

    Matched betting wise I have made £4 on a football game, haven't had much time to look for any dutching opportunities as of yet but £4 is better than nothing!
    • ryry91
    • By ryry91 14th Jan 18, 7:10 PM
    • 15 Posts
    • 20 Thanks
    ryry91
    • #9
    • 14th Jan 18, 7:10 PM
    • #9
    • 14th Jan 18, 7:10 PM
    End of the week roundup

    So it's not been a horrendous week! I have managed to make £15 worth of profit from matched betting. I have had a good clear out today and have sold three items for £20 and have put a lot of other items I do not use up on ebay/facebook to sell so hopefully they go soon.

    I had an emergency whilst travelling to university on Friday and left my oyster card at home, so had to put £12 on my credit card as I didn't have enough money on my debit card! But that said, I get paid tomorrow so I can use my travel money for the month to pay that £12 off straight away so it isn't the end of the world!

    Hopefully next week brings more moneys!
    • laurag89
    • By laurag89 14th Jan 18, 9:47 PM
    • 662 Posts
    • 1,274 Thanks
    laurag89
    I didn't want to read and run!

    Its brilliant that you have created a diary and been honest with yourself as to how you have reached this position - I am in quite a bit more debt but for very similar reasons: Holiday's, Just generally living about my means!

    But it sounds like you are very determined to get it paid off and that is the important thing!

    Looking forward to following your progress x
    Total debt to pay: £14,071.41/ Remaining debt: £13,792.36: Amount Paid: £279.05

    Survey xmas 2018 savings: £10 / £150
    • ryry91
    • By ryry91 15th Jan 18, 8:47 PM
    • 15 Posts
    • 20 Thanks
    ryry91
    It's as I say to my friends:
    Living a champagne lifestyle on a lambrini budget! Except I never stuck to the lambrini budget otherwise I wouldn't be in this mess!

    I just noticed your signature Laurag! I like the idea of doing surveys as a way of saving for xmas! I might just have to copy you :P
    • theroamingnomad
    • By theroamingnomad 15th Jan 18, 9:26 PM
    • 114 Posts
    • 111 Thanks
    theroamingnomad
    Good luck with your journey. You seem to be being honest and holding yourself accountable when necessary - that will hold you in good stead
    Debt-free by August 1st, 2018 - hopefully!
    £4945.54/£5124 - as of 18/01/18
    • ryry91
    • By ryry91 16th Jan 18, 8:59 PM
    • 15 Posts
    • 20 Thanks
    ryry91
    My Monday!
    Managed to place quite a few qualifying bets on my matched betting! Should make me a good £5-10 profit over the next week (not including my regular bets) so I am very hopeful for the end of the week.

    Also paid £120 off my Very account, meaning I have reached the 10% mark on paying off my balance!

    I also had an interview today for casual weekend work which is really flexible for a charity I have worked with previously, they seemed keen so fingers crossed!

    Happy Monday People!!
    • laurag89
    • By laurag89 16th Jan 18, 9:58 PM
    • 662 Posts
    • 1,274 Thanks
    laurag89
    It's as I say to my friends:
    Living a champagne lifestyle on a lambrini budget! Except I never stuck to the lambrini budget otherwise I wouldn't be in this mess!

    I just noticed your signature Laurag! I like the idea of doing surveys as a way of saving for xmas! I might just have to copy you :P
    Originally posted by ryry91
    I am exactly the same, like the finer things in life but just do not have the budget for it!

    Surveys are a really good idea, depending on the site you use it can be quite time consuming but some give vouchers which are great for keeping for birthdays/ xmas, and other give paypal cash which can go to the debts!

    Prolific Academic is a really good one, but there are loads out there!
    Total debt to pay: £14,071.41/ Remaining debt: £13,792.36: Amount Paid: £279.05

    Survey xmas 2018 savings: £10 / £150
    • ryry91
    • By ryry91 17th Jan 18, 7:32 PM
    • 15 Posts
    • 20 Thanks
    ryry91
    I am exactly the same, like the finer things in life but just do not have the budget for it!

    Surveys are a really good idea, depending on the site you use it can be quite time consuming but some give vouchers which are great for keeping for birthdays/ xmas, and other give paypal cash which can go to the debts!

    Prolific Academic is a really good one, but there are loads out there!
    Originally posted by laurag89
    I have been using QMee for a while and have made a little bit of money from it, not much bout £6-7 over a few months, but I might look into Prolific Academic! I have seen that mentioned quite a few times in the forums.
    This year I am not going to be stressed from spending at xmas! I had to leave things to the last minute because I needed to wait to be paid etc and it got all too hectic!
    Survey Savings for Xmas 2018: £3.98 / £150
    Debt Free Wannabe 2018
    Jan '18 Debt: £8068.15
    • ryry91
    • By ryry91 18th Jan 18, 8:33 PM
    • 15 Posts
    • 20 Thanks
    ryry91
    Successful day today!
    Managed to bag myself a flexible job working with a charity! Need to work a minimum of 2 hours a month! So hopefully will be able to work a few hours over the weekends to earn a bit of extra pocket money!

    That is all for today!
    Happy almost Friday!
    Survey Savings for Xmas 2018: £3.98 / £150
    Debt Free Wannabe 2018
    Jan '18 Debt: £8068.15
    • ryry91
    • By ryry91 20th Jan 18, 11:13 PM
    • 15 Posts
    • 20 Thanks
    ryry91
    Naughty Naughty...
    I bought myself something on the credit card!
    It was kind of a "you are cutting them up so might as well have one last treat" kind of mentality which is totally wrong however, I have paid half of the purchase off straight away, and I get paid from tutoring before the end of the month so I will be able to pay the whole thing off before hand. However I totally get I shouldn't have done it in the first place. I even took myself through the "do I need it or want it" scenario, but I still bought it as an impulse purchase.

    This has then also made me realise one of my triggers, shops have your card details remembered to make purchasing easier. Too easy in fact! It is just so easy to click it and think "oopsie" and not really care about what you are buying, so as a result I have removed all card details from shops that do not require card details to be stored! This way I will not do this again!

    Hope everyone is having an awesome weekend!
    Survey Savings for Xmas 2018: £3.98 / £150
    Debt Free Wannabe 2018
    Jan '18 Debt: £8068.15
    • ryry91
    • By ryry91 22nd Jan 18, 9:56 PM
    • 15 Posts
    • 20 Thanks
    ryry91
    Feeling a bit rubbish today...
    I thought about trying to shift some debt onto 0% but not even the "Low Credit Score" cards will offer me a deal. I thought if I could get one of my credit cards onto a 0% then at least I would be able to pay it off quicker.
    Does anyone know of any good ways - other than paying off said debt - to raise my credit score? I have never missed a payment in my life! I thought that would have stood me in good stead?
    Survey Savings for Xmas 2018: £3.98 / £150
    Debt Free Wannabe 2018
    Jan '18 Debt: £8068.15
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