How has your attitude changed?

Avogirly

My debt stems back from when I was a student. I did not work that much whilst studying and really relied on my credit cards and store cards to buy all the things I thought I needed.
I wouldn't think twice about putting £100 on my store card for clothes I could not do without.
For me spending money on clothes, makeup, bags etc all helped me overcome my lack of confidence (so I thought). I would get an immense high when I walked out of the shop with my bags full, but then I would hide them from my Mum when I got home. Then I would wear the clothes saying I'd had it for ages!
I consolidated my loans once, just after I graduated, but because I then had empty store/Cc's I racked up another great load of debt again.
I then consolidated my loan and Cc's AGAIN, this spring, very bad move. However, I can make overpayments and have just cancelled the PPI, so things are looking up.
I am now on a really strict budget, but make sure that what I say I am going to spend/put aside on debt I do so.
I have to work really hard and have two jobs, but I am determined to be debt free in 20 months time and this time I'm never ever ever ever ever going to get into debt again. I'll be 27 and debt free, glad it happened whilst I was young, but so money wise it'll scare those blinking banks!!!!!

skintchick

Another example:

I used to spend up to £30 a week on food, and thought it was good if I 'only' spent £25.

Last night I was annoyed my bill came to £7.99 - cos I wanted to bring it in under £7!!!!

Think that's quite an attitude change!

Avogirly

skintchick wrote:

Another example:

I used to spend up to £30 a week on food, and thought it was good if I 'only' spent £25.

Last night I was annoyed my bill came to £7.99 - cos I wanted to bring it in under £7!!!!

Think that's quite an attitude change!

I am exactly the same. It's becoming fun now though, when I first started I would find it frustrating!

dinkylou

My attitude has changed since I bought a house and realised that I had grossly overestimated what I could afford each month.

I guess I always thought that because I had a good job and family never struggled that I was 'well enough off.'

I never really took that long hard look at my finances to be honest with myself. Until earlier this year.

I started writing down where it was all going and I shocked myself. One month I had spent nearly £120 on food - for one person!!! And that was grocery shopping!

So I guess it has changed me mentally as I no longer think, 'yes I can afford that', which has made a difference.

Im still not as good as I should be at times but at least now I m in control.

Edinburghlass_2

dinkylou, I think that is a great point "at least now I'm in control"

When you can say that you have the control and the spending doesn't control you, you are on the right road.

Welcome to any new users to the Debt Free Wanna Board after reading this week's email tips and linking through to this interesting thread. You will find plenty of inspirational posts to read on this board, have a read of Martin's post here to start you off.

Little_Miss_Scrimper

Wow, what a great thread. I am reading all your posts thinking yes yes that's what I was like! I ran up my debts (£19k) as soon as I hit 18. I was given a store card on my 18th birthday as I went shopping with my birthday money and my debts spun out of control until I was 24 when I moved out. Living on my own I've realised the value of money and had my 'lightbulb' moment. I am determined to reduce my debt as it kills me that I earn a decent salary and it's being eaten up with debt. So I started selling all my unwanted stuff on ebay & continue to do so as well as setting up a business with a friend so the extra money from both ventures is going straight onto my CC's.

I used to buy things for fun now I think do I need it or just want it. 9/10 I never buy it. My attitude has changed more since my friend introduced me to MSE now we talk daily about money motivating each other to make cut backs and plough on with reducing our debts.

Hootie19

All through our 20s and 30s, we had the attitude of "we want it, so we'll buy it now and worry about it later".

Well now we're in our 40s, "later" has hit like a steam train. Several redundancies over the past 10 years have caused us no end of grief, and even late into our 30s we didn't learn from our mistakes, and carried on regardless. Remortgaging was just too darned easy.

I'm older, grayer(!) and wiser(?) now and have taken our finances by the scruff of the neck.

It's hard, especially having to say "no" to the kids, but I am determined that they WILL learn from our mistakes.

I now use only cash when I'm out shopping, grocery shop online to avoid those impulse buys and have learned how to menu-plan and do "proper" cooking, instead of packets/jars/ready meals. I have picked up no end of helpful hints and tips from here, and although I read the "grab it quick" forum, I am rarely in a position to take advantage. That makes me mad - but only at myself for allowing myself to get into that position.

It will still take several years for us to be clear of the debt millstone, but once it's done, the experience will NEVER be repeated. That's one thing I'm sure of. And the worst thing?? Even after spending literally thousands of pounds, there's practically nothing to show for it. How stupid is that?

iglimpse

:A I would be interested which book you found helpful for your neice. I have looked at a couple but very dry approach, my teens would not be interested, will try your suggestion if you found it helpful.

Cathy x


"My niece is now planning to go to university next year, so I've bought her a book on managing student finance Let's hope she takes the advice!!"

Sarah x[/QUOTE]

iglimpse

:A

This is an excellent thread. No matter how many friends / aquantances we have, we rarely talk about such things to each other, for obvious reasons (why?), so this is just like talking to very wise friends.

Have asked Sarah for the name of the student finance book. Might just print this thread off and let them read other peoples' real experiences instead (mother of 3 teens).

Cathy

2bdebtfree_4

I was fortunate in that my Uncle was an insurance collector and, as a child growing up he let me help him count the money from his rounds. At that time in the eighties every Friday night I would be helping him count several thousand pounds - an incredible amount for a child to see.

As a result i've always had an 'interest' in money and I have always had the view that 'if money is one of your hobbies then you will always be able to afford your other hobbies'.

Sure, there's a bit of stick for being careful, tight, "tighter than two coats of paint', and all the other compliments I receive from mates.

However, that said I had a loan for my first car, and a mortgage for my first house but if I can avoid it this should never happen again.

I've worked in a factory since the age of sixteen and take pride in the fact that within the period of the past six years (since making a concious decision to do it) i've went from having 4k in the bank to owning outright a house worth 160k, and just bought my dream car in the summer with cash.

The emotional freedom of not having any debt feels fantastic but when you begin to build wealth different issues arise.

No one at work knew of my financial situation until recently - I let some people know about being 'mortgage free' in an attempt to spur them on towards being that way themselves but it didn't work and in the end it only bred resentment which wasn't the intention.

Anyhow, financially I believe anything is possible - however, as will all things in life it will come at a price - whether its time to study, moving jobs, taking on more responsibility, starting a business, whatever - but the first step is to plan it and do it. \the biggest decision you will have to make is 'when is it enough?'

Apologies for the rant !

Best wishes for the festive season.