Depressed and in Debt

MunchkinKel

Thank you all so much for your comments I am amazed at how many people care about the welfare of others, it has opened my eyes.
Ok first off I made a big boo boo and cant think why the hell I put £500 as mortgage payments - my half is actually £350 SORRY!! This is a repayment mortgage and yes we have a 100% mortgage. The £80 travel is my bus fare to work each month as the OH uses the car for work (hence my small contribution of £10 per month!)
Your right Staciep88 I dont need to spend £20 on clothes, and entertainment can come down as well, I will just have to think of free or cheap things to do with my evenings/weekends!
I need to look into swapping my CC's but as I have had quite a few in the past I'm a but worried about applying.
neas - yeah i do have student loan as well comes to around £14,000 I pay off £1 a month out of my salary (seriously!)
Thanks for all suggestions, I'm chuffed!

neas

ah so your student loan isnt a concern at the moment... which is good.

Dont want to be gloomy but if you are on a fixed rate mortgage.. when do you come off it? If house prices drop... and you are in negative equity it may add more to complicate things.

I just mention it cause its good to be aware now... when you can get rid of your debt... and start overpaying the mortgage early... could save heartache in future.

If you've got 2-5 years prob enough time to save to counter-act negative equity. which may arise.

What about your OH? could you convince him to do a SOA? and then work out how to save and scrimp some more?

Couple of Moneysaving things to do... 1. Start Couponing (See discount section) 2. Apply for freebies (see freebies thread). 3. Buy Value food..iknow its not perfect but saves a ton and some of it aint bad

gailey_2

Hi just wanted to say welcome, dont get down seen worse! But everything seems worse when its your own.
As for wedding thy dont have to cost the earth dont get carried away my top tips we did ours for 5grand all in all wedding mags i brought said avergae wedding costs £17000 is rubbish u can have lovley day for less.

Some tips

clothes- groom,part hire clothes
bride ebay,debenhams and monsoon do reasonable dresses for £250
Shop around for best price
consider self catering if u can
maybe have small day do but invite loads to evening
we got handmade invitations from clintons as was cheaper than getting them made.
toast consider cav /sparkling wine over champers
Can u borrow a nice car from family or freind for big day?
Decoratiosnfavours look online/ebay as much cheaper.
Do set a budget and stick to it.

We had our wedding in small hotel in wales where im from, the town florist was charging too much so tried the next town who delivered 4 free.

Good luck
try and cut back earn a little more and save as you got time.

neas

Our 40 people wedding cost 1.7k,

1k for restaurant +300 quid behind bar

700 quid for suit, dress,flowers, venue, registry office fees, Car, Cheap Photographer (Amateur.. but cheap and quality)

MunchkinKel

How reliable is buying a wedding dress off ebay? Has anyone here tried it? I would definitely consider it but its gotta be risky as I wont have tried it on!
I am feeling a bit less depressed about my situaiton now, I have started a spending diary where I write down everything I have spent during the day, and have started to look for a 0% cc to try and save some more money.

One thing I wondered if anyone could help me with, I am trying to save for my wedding obviously, but the advice on here always says pay off your debts before you start saving any money. If I did that I still couldnt pay them off before the wedding, and I would have saved NO money!!! Do I ignore that advice in this situation? lol

MunchkinKel

I feel like I'm gonna have a panic attack, I have £50 to last me the rest of the month, I have £100 worth of utillities bills to pay and £50 minimum credit card bill to pay. Also i have to go food shopping and pay for my bus fare for the next week and a half. I dont know how i'm gonna cope. I dont think I can do this anymore.

andys15

STOP

Do not try and extending an overdraft, or obtaining one. It will help you out this month, and this month alone. Its a vicious cycle.
Is there anthing you have to sell, the worse thing about being in debt, is getting in more debt to help you through the month. Do not get in more debt to help you out.
There is always a way, beg, and borrow. Tell your gas company you have changed accounts and the bank have messed up, then on pay day, pay them. Or be honest with them and see if you can delay a payment.
When does the mortgage come out of your account?

If it comes out on the first day of the month, change it untill the last day of the month ie assuming you get paid on the 28th sep, your mortgage will come out on the 1st OCt, if you change it to the 28th oct and leave it like that, then your 28th sep pay for the month will not have a mortgage payment. It only works for that one month, but you can then cover the gas/electric oversight.
You are one the verge of bad debt, but you have caught it early when there is still a way out. dont dont dont pay of debt with more debt otherwise it will only get worse.
You really need to sort this out now, because I have had an overdraft of £50 , which resulted in being £50 shy the next month so the overdraft doubled to £100 ec etc. before I knew it I had an overdraft of £2000 and no means of that being increased. Its a faulse economy and there is no worse feeling than being overdrawn on payday