How has your attitude changed?

citygal

Great thread! I am now a lot more conscious when it comes to money, wish I had been more careful in my 20s, it was a case of spend, spend spend !

I have learnt my lesson now........

Kevicho

Before finding this site i was really lapse with money, and to be honest most of it went on going out with friends, which incurs lots of takeaways and taxi rides home, neither of which are cheap, but ive always had money spare (or credit) so id never worried too much about it.

My main problems was i had two (2-3 months) periods of being out of work, where before i was living(going out) on my wages, it became going out on credit

looking back now i think what an idiot, but thats part of being young, and when i was young i got very little, so to suddently be earning 200 or more a week i was like "wahey!", well "wahey!" has put me in the debt i am in, and i have very little in terms of house/car/qualifications to show for it, especially when im really talented with PCs, ive pretty much wasted 8 years boozing which i now regret.

Anyways all that has changed since my last birthday, i realised its time to put the messing about to bed and start doing something with my life, soon after i found this site, got a new, much better paid job, and sat down and did my finance spreadsheet, which has evolved into a really good plan to get me out of this mess.
Also passed two IT qualifications which will aid me in increasing my salary or finding better work in the future.

So before going out was carefree nowadays im going out less or watching the clock for my last bus so i dont waste money on taxis (despite when people say, go on have one more)

So to answer that question, i think ive had a complete turnaround!

Old_No.7

Hi, in response to someone asking about a book to learn about finances: what I found really useful was A Girl's Best Friend Is Her Money (it's a publication from the Motley Fool, but you can get it from Amazon etc). I got it through a workshop where this book was used, and it really kicked things off for me in terms of money saving/being a clued-on consumer. That, and working for an investment bank for a bit: that job made me realise how much money the banks make off us all, how all the "little" bits we have to pay them for add up to a humongous amount of money for them.

This is my first post, so not sure what the etiquette is, but just wanted to include a Happy New Year to you all!

Marisan

I never really thought of myself as extravagant,but just by "borrowing" a bit here and "borrowing" a bit there,seeing my credit card limit as a goal rather than a limit,and foolishly letting myself get talked into a storecard four Christmasses ago,the debts soared.

I think it was when those so-helpful lenders started to get really nasty that I had my lightbulb moment.One moment you're a valued customer,the next they threatening you with all manner of unpleasant retributions.

I'm gradually paying off my debts,although it will be another four years until I'm debt-free.This Christmas I have managed to buy all my family prezzies without using any form of credit at all (in fact,I've cut up my credit and store cards!) and once I am debt-free I intend to stay that way.

It's a hard lesson to learn,but worth it.

Happy New Year to All.

Dora_the_Explorer_5

This is from Frank McCourt's book 'Tis the continuing story of his life and he's writing about the night job in a bank he had in New York in I think late '50s early '60s.

"Night after night we see hundreds of applications for loans. People want them for new babies, vacations, cars, furniture, consolidation of debts, hospital expenses, funerals, decorating apartments. Sometimes there are letters attached....a husband runs away and the applicant doesn't know what to do, where to turn, she never had a job, how could she with raising three kids, and she needs 300 dollars to tide her over till she finds work and a cheap baby-sitter"

Nice to know we didn't invent debt or the reasons for it, isn't it.

[Deleted User]

I was brought up to avoid debt and to never have any, bar a mortgage, which was seen as an investment. If my family could not afford something - we simply went without it. That is not to say we were especially poor or badly off. Nor were we well off either. But we had all the necessities - but no debt.
I recognise I have been very lucky to have had parents who were so disciplined with money and who instilled it in me.
I was always taught to save up for what I wanted and then get it. I learnt to budget my EARNED pocket money and other money earned from my weekend jobs and I feel it certainly taught me the value of things - and not just in monetary terms.
My attitude is still the same today and if I can't afford it I don't have it. Since discovering MSE I've started to be even more conscious about money saving and getting rid of my mortgage has become an obsession.
Because I can now see light at the end of the tunnel - I've chosen to double my payments to clear it even quicker - hence I have little to spend on frivolous things and do not take holidays etc...
My attitude to debt is not necessarily the right way or the wrong way to go about it - but it suits me.

Peppa_Pig_5

Thank you for this thread Saraht. I am finding it very interesting. I discovered Martins Money Saving Site a couple of months ago and am addicted. I have saved on many of our monthly outgoings and am enjoying trying to find new ways to cut down our spending.

Before this me and my OH would just borrow on credit cards and just remortgage when the debt got too much. This happened a number of times, but then I got to the stage when I knew I couldn't do that for the rest of my life.

I had my lightbulb moment a few weeks ago and have decided any spare money we have will go to pay off the debt. The extra payments start in January and can't wait to be debt free. Going by the calculations it will take about 18 months, but if I could get a 0% credit card it would be even sooner, but not sure if it is possible as our credit rating was really bad a few years ago. Have applied for an Abbey Card, so hopefully will have some luck there.

Have cut down a lot on our outgoings and am even looking into getting an extra few hours work to pay off the debt quicker.

I am 33, my husband is 46 and our attitude has definitely changed as a result of this site and the Make Me Rich programme.

annie-c

Before I found this site, I thought I'd already learned my lesson, after a few hard years of working my way out of debt caused by a 'head-in-the-sand' attitude to work and money problems.

But even though I thought I had been really careful over the last year whilst decorating and furnishing a new house, I've calculated how much I've spent living on takeaways and meals out, and buying so many unnecessary bits and bobs. There seems to be so much more to learn all the time. I'm fortunate now that I don't have unmaneageable debts, but I realise I don't have all that much to show for my salary either, and I'm learning all the time that there are better ways to enjoy the money I have than by frittering it away on things that don't really bring lasting pleasure.

dibdab_4

Not really following the question in the thread but I have to say ....

I just love this site and only found out by chancing upon the TV show. Everyday I am utterly amazed to read threads/advice from some of the people who are so in debt yet gladly give advice to newbie's with a smile - and keep on giving.

Fortunately, apart from the mortgage I don't consider OH & I in debt. However, the inspiration of this site & members has changed my mind to that fact. So much so that hubby and I are reviewing are budgets in order to make plans to pay off the mortgage early.

I wish everyone knew about this site regardless of whether they are in debt or not as it is a real eye-opener.

A fantastic community of people making a difference to not only their lives but others as well and I thank you.

kathfisch

This is only my second post (ever!) but reading this thread has put a smile on my face and I thought I'd contribute. Its great to know that this site is really helping people and that they are finding it through the tv show. I agree with others, the people on these forums are amazing, I have regularly posted on other types of forums and felt belittled and intimidated by other users. But not so here, it is great the support that is shown.

Luckily I'm not in a position to need their support to a great extent, I'm in my third year of university and, despite spending above my means in my first year, I am not in any debt (apart from student loan). This is only thanks to a pot of money I had built up before I went to uni, and I have my parents to thank for teaching me well to save that.

At one point about two years ago I was overspending quite seriously on totally unnecessary stuff but then I had that lightbulb moment you so rightly talk about. My realisation was that I was spending to cover up unhappiness and insecurity, only to find that the relief was shortlived and followed by more unhappiness in feeling that my spending was out of control. Unfortunately my partner at the time didn't have the same desire to spend less which led to arguments and feeling even more out of control. I eventually decided to cut down myself and be strict about it, to this day I still make a weekly budget and write down every last penny that I spend. Also, I am not with that partner any more (for reasons unconnected) and that has been positive for my spending but also the insecurity that was behind it.

Oops... didn't really intend to write so much! Its the supportive nature of this board brings it all out of you! Thanks again to everyone who offers so much support and keep it up!