In Debt At The Age of 19

HLK

dcampbell86 wrote:

Thanks

I cannot seem to stick to a budget at the moment.

I have a habit of paying my friends for stupid stuff.

i.e i pay them £50 to stay overnight at my house on a Saturday night and other stupid stuff.

You pay friends.. ? they aren't friends.. sorry I can't believe you would pay, or they would take the money. Crikey, they save money by coming to yours and get paid... time to offload! :eek: Sorry if sounds a bit harsh !

dcampbell86

i do not know why i pay my friends - i suppose i just want to be around them more but to do that they want money for it and i am stupid enough to do it.

i used to do this a lot but then i stopped and then i started offering them money (shouldnt have done!) and now they take it as i offer but they have stated that as long as i dont offer, they wont take

wendyl1967

dcampbell86 wrote:

i do not know why i pay my friends - i suppose i just want to be around them more but to do that they want money for it and i am stupid enough to do it.

i used to do this a lot but then i stopped and then i started offering them money (shouldnt have done!) and now they take it as i offer but they have stated that as long as i dont offer, they wont take

time to say :wave: to those kind of friends.

dcampbell86

what is PPI?

no my credit cards have interest on them

will the bank freeze the interets if i explain im struggling to repay?

i shouldnt be struggling to repay but i am for some reason

ihave already spoken to my mum and dad and they arent willing to reduce the rent

dcampbell86

i have already started taking in my lunch to work now instead of buying it so i have a head start there

wendyl1967

You have to start with the budget planner and then if you are in the red you need to see what you can realistically cut down on. You can't carry on spending more than you earn!

Carry a note pad and write down everything you buy. Even a paper and see how much money you waste in a week on stuff you could cut down on. Write down the latte, the bus fair etc.

HLK

Perhaps you could ask for some of it back... they probably have savings!

Seriously though, they will not respect you for this, and I think you know that.

However, just the fact you have sought advice on here is a good sign.. sometimes that 'lightbulb' moment doesn't happen till a person is a lot older than yourself and a lot deeper in debt. Once you have confronted this issue and are on the way to sorting it .. you will gain in confidence. I wish all the best in this.

dcampbell86

well i cannot stop using the buses cause they are the way i get into work, it cost me £1.85 for a return ticket every day.

is there a way i can work out how much i should repay to my credit cards and overdraft per month?

i already have a set amount of £102 which i pay monthly

gizmoleeds

dcampbell86 wrote:

it cost me £1.85 for a return ticket every day.

That's quite good, but are there any weekly/monthly tickets which would work out cheaper?

us,thecat&thedebt

hi,
some of this may sound harsh but help is what you need like many of us..
earning your wage with outgoings of only £150 there is no reason you should be struggling..
youve been honest by explaining that you spend money on stupid things like paying **** sorry i cant call them yr friends to stay.... when our friends come round they bring a bottle with them!!!!
you need to pay your rent each month then use 75% min of your excess income to pay off your debts
you have it easier than you would if you had rent bills ect to pay..
please please please please take this advice a year ago i was you with 3k worth of debt i moved in with a partner away from my £100 per month rent due to my parent to around £700 per month of bills and £300 per month of debt repayments my debt is now £15k between me and my partner
how i wish i was at home with no bills ect i lived and i learnt
get rid of this debt asap and start saving for the property ladder..
i dont blame your parents for not budging on the rent as this will not help you..
go for it do all the little things that save money and you will get there!

welldone for realising you have a problem its not too late to sort it out...

good luck