First Step...

American_Dreamer_2

"The journey of 1000 miles starts with a first step"..... cheesey I know, but I guess this is my first step.

I have done a spreadsheet based budget and worked out that I could be debt free come March 2010.

My debts at the moment are as follows:

Bank of Scotland Loan £8,204.82
Barclaycard C/C £2990.00
Halifax C/C £1720.50
Overdraft £1300.00
Additions Catalogue £125.00
TOTAL £14339.82

The thing is, my budget is realistic and manageable but I find it so difficult to look that far ahead.... its just seems so far away and I lose focus and discipline.

I am 23 and really want to emigrate to America. It is my goal to clear this debt, build up some savings, learn new skills and get healthy.

Am I a hopeless dreamer or do I need to stop being short sighted.

Thanks for any feedback

smashedbooboo

Hi and welcome, you are not a hopeless dreamer hun. Never stop dreaming. Dream about the goal you want and if you want it hard enough you will get there. Now what you need to do is post up an SOA, Statement of affairs. A list of everything you pay out and everything money you have coming. Put this up and there will lots of help and advice from the peeps on here. Where you could possibly cut down and save money etc etc. Are you working now. Are you behind with any of your payments towards these debts. And yes when you get to the top the view is bloody amazing. So keeping aiming for the top. xxxxxxxxxxxxxx

smashedbooboo

And if you think you are being short sighted babe then we will be your glasses, Having a dream is not being shortsighted. xxxxxxxxxxx

Arlen

To try and stay focused try this:-

I don't owe much (was £5k now £1750) and want to have that all paid off ASAP as it is owed to my parents. However I want to buy a new motorbike (around 2k) but I will not give in and buy that on credit, I have a picture of the bike set as my wallpaper on my work PC and my home PC this keeps me motivated, knowing that once the debt is gone I will have something to aim my free cash at.

American_Dreamer_2

Thanks for the support

Re: SOA The thing is, my Spreadsheet Budget is seriously detailed with formulae working out interest rates on c/cards and everything else you can imagine down to the smallest detail. The sad thing is though the reason its so detailed is because i've rehashed it about ten times over the last 3 years and each time its grown. I sometimes amuse myself by typing £50000 into the other income 'cell' just to see how it looks.... GOD I KNOW THAT IS SAD .

This time I do feel I've had my lightbulb moment. I know what I need to do... I just need someone to give me a kick up the backside every once in a while to keep me focused. I think i've got to the staged where I am so fed up with debt that it is now my number one enemy and it ain't gona beat me. I've got the determination to do it now and I am trying to achieve other things along the way like stopping smoking and maybe learning spanish.

I guess you guys have probally heard all of this before though... right?

American_Dreamer_2

Just got that Arlen.... I now have a Los Angeles beach desktop background.