In debt at 24...please help!!

Daisy0706

Trying to delete

Horace

Hi and welcome

Could you please post the APRs of the credit cards etc that you have? Use this handy tool to show your full SOA (statement of affairs) and include things like groceries. There is a button called MSE to configure it to this board.

https://www.makesenseofcards.com/soacalc.html

With regard to getting a taxi when it is raining - an umbrella is cheaper.:D

Ditch the £10 a month Cancer Research donation.
Switch from Setanta to free view
You should be able to get the Sky package cheaper - I think they are currently doing a deal on TV, telephone, and broadband for £17 a month.

Keep a spending diary so you know what you are wasting money on e.g. taxis.

Horace

What do you spend on groceries and meals out?

Taxis are extravagent and not cheap as I found out myself the other week - it cost me £20 just to go 6 miles:eek: It wasnt a black cab either - so just think of all that lovely lolly going to a taxi driver when it would be better off in your pocket.

To cut down on grocery spends - go to the moneysaving oldstyle board for meal planning tips. Make a list when you go shopping and stick to it.

Sign up to Martin's moneysaving email where you can pick up vouchers for meals out etc, over on the freebies board you can get cinema tickets and other free stuff.

I definitely think that a spending diary is the way to go especially as you dip into your overdraft each month.

skintas_2

is setana and sky nessary, could you not get shop about and get, phone, tv amd broadbrand in a package for cheaper,also cancel the gym membership and mobile phone, change that to pay as you go, .....

pureaswhite

Hi Daisy0706,

Well Done for realising that you need to cut back and dealing with it. I found it really helpful to start a spending diary.

Keep it up to date daily and you will be surprised how much more you spend here and there on rubbish.......like a drink from the shop, a magazine, a coffee on way into work. It really mounts up and the worst is because it's little bits you don't notice it going. I thought I was ok until I did this. Worked out I was spend £35 per week on nothing!

Good Luck x

Debt_Free_Dreamer

Daisy0706 wrote: »

Groceries are around £130 - £155 a month and I do it online so theres no risk of me picking up things I don't need. I do it on Tescos too which now highlights 'cheaper alternatives' which is really handy.

We probably eat out 2-3 times a month, but we do tend to have alot of nights in - a couple of bottles of wine and a tub of ice cream.

I love the idea of a spending diary, I definitely will give it a go. I tried withdrawing only £45 a week and not spending anymore, but I seemed to always get hit with an engagement party or an inivte to a birthday party that I wasn't expecting.

Thanks for your advice I really appreciate it

Don't forget to always check out the voucher codes for Tesco http://forums.moneysavingexpert.com/showthread.html?t=1015057 and bank the codes ready for when you need to shop, before they have expired.

Also check out www.paidtoshop.co.uk for making the most of your Tesco Deals. Some people manage to pay for cars and holidays. I read one thread the other day where someone had saved £6,000 towards their car with deals.

Look at their info on having more than one Tesco card and joining all the clubs to make sure you get the extra vouchers.

Some people even have imaginary children to join the baby club and sell the vouchers on ebay. They are currently selling for around £13 the set.

Make sure you use Quidco and other cashback sites and check out the free money you can make on them just for siging up for emails.

Join some of the daily challenges like the Payment a Day, where eveyone is paying what little they have against their debts. http://forums.moneysavingexpert.com/showthread.html?t=1079175

and the Make £10 a Day http://forums.moneysavingexpert.com/showthread.html?t=1125049 for some great ideas on making that little extra money to help towards the debts.


Amanda

Horace

Daisy - you could try looking at the Special Occasions board as they have tons of ideas for presents from making hampers to chocolate slabs and sock monkeys. There are lots of ideas for making cheap presents to give to people.

I was wondering, is there a local council run gym near you or a council run leisure centre? Their fees may be cheaper than paying for membership at somewhere like LA Fitness.

shelene

Sorry dont mean to be intrusive but tcan you not get physio on the NHS, i personally have had physio, and a chiropractor treatment on the NHS after being referred from the dr, so didn't cost anything????

Soubrette

Daisy0706 wrote: »

I suppose I could set myself mini treats along the way for when I make certain achievements.....but then isn't that just as bad?

No, it's good because your treats are budgeted for *smiling*

I totally agree with everyone else that a spending diary is the way to go - already you are saying that your SOA may be underestimated so you'll find out exactly where your money goes.

I'm afraid I would ditch the charitable donation (if that is what the £10 per month is to Cancer Research) in the short term with a view to starting up again when your finances are in better shape - if you are going into overdraft then you effectively borrowing to give to charity.

Also your SOA is not complete - unless you don't buy clothes, have haircuts etc!! Again, the spending diary will help there.

I would say, unless you are desperate, don't worry about changes too much, keep a spending diary for a month and then repost your SOA based on what you are actually spending and then it's time to start with the budgeting. It's also worth reading some of the diaries here to see how other people are managing their debts, two that spring to mind are Hypno06 and forgetmenot68.

Good luck

Sou

PS the smilies are not working today so this post seems a lot grimmer than it's meant to be!