Gran helping me get out of debt.

Jesthar

partickz wrote: »

I do not want to let my Gran down and recognise that relying on overtime was not the best idea I ever had. I cannot wait to my payday next week as I plan to account for every penny. I have bought a little 10p notepad and will make a note of every penny I spend. My Gran has the form for the Credit Union loan already filled out for me to sign tomorrow morning.

My Mum has offered to pay my Burton card off as an early Christmas present. However, this will come with a whole load of conditions regarding how I manage my money?????? I will basically be left with 'pocket-money' for the next few months if she gets her way. I feel a bit hen-pecked!:rolleyes:

Mate, trust me - this is probably the best thing for you! Sadly, schools do not teach household budgeting any more (long before I did my GCSEs, certainly - too 'fuddy duddy' and 'old fashioned') - and then everyone wonders why so many people go off the rails financially! :rolleyes:

I was blessed in that I had parents who set me a good example in how to live within my means, work to a budget and NEVER buy anything on credit, and I've also always been a natural saver. You sound like you've got the parent/grandparent alright, but have missed the boat on the learning to budget and saving parts! And the sad thing is whilst you have caught yourself in time whilst there is still a chance to change quickly, there are many more who will not come to their senses until far, far too late...

You now have a wonderful opportunity, as both your mum and gran sound like really wise money managers - grab hold of this chance with both hands and LEARN from it! If you do as your mum suggests, you will find yourself starting to think before you spend, and you will probably be astonished at just how quickly you can pay off your debt. My take home pay isn't many leagues about yours, but I've managed to save about 2k in the last year alone, not including overpaying nearly another 2k on my mortgage - and that's with all the extra expenses of running a house!

And yes, you may be feeling hen-pecked, but as the others have pointed out, far better that than 20+ phone calls a day from debt companies, or baliffs at the door...

Hope that helps a bit!

~Jes

partickz

RobertoMoir wrote: »

Rent- 150 Fair enough

Car Insurance- 68. Are you sure this needs to be this high? Is there a better deal you could have? Is there a better car, in terms of insurance, you could be driving? Funny that you're paying car insurance but don't apparently have to pay to run a car?

Contribution to groceries- 100 Fair enough

Mobile- 35. Is that contract? If so, can you switch to PAYG and use the phone less. Is that PAYG already? Use the phone less.

Broadband- 19.95. Are you sure you need to spend this amount? Can you switch to a lower service tier or get a different provide to save a bit here?

Contribution to Sky- 20 Is this for just one or two channels that only you use? If so, do you need to keep that channel?

Other Insurance- 8.50 Other Insurance for what? Is it needed?

Oh yes, and if you think being nagged about money is bad, wait until you meet a bailiff. Feeling hen-pecked is a small price to pay.

Sorry if this sounds harsh, but I think you do need to take a long hard look at things here.

I am not really sure what the other insurance is. It just goes out in a Direct Debit in the middle of the month. The Car Insurance is my brothers that I got my name added to. He went to Dubai and left me his 53plate Fiesta. Before he went I had my name added to his insurance. Guess I am paying for us both!!!! If I am honest, I hardly ever use the car and did fine without one before. I just checked my statement and I last put petrol in it on 4/10/08.:rolleyes:
Although I passed my test when I was 17, I have never had car insurance before so not sure if i could get cheaper.

The mobile phone is a contract which expired in August. I am thinking about cancelling it and doing without. I have just checked my bill and all the calls are to my GF landline (she does not have a mobile as she is a 'radiation freak'). The texts are all to workmates/friends and are usually the forwarding of jokes or football related.

My Mum has offered to give me a couple of months of a break on the rent/groceries provided I follow her 'debt free plan'. She is also going to phone BT and see about getting the Broadband through her phone package in case it is cheaper.

partickz

Jesthar wrote: »

You now have a wonderful opportunity, as both your mum and gran sound like really wise money managers - grab hold of this chance with both hands and LEARN from it! If you do as your mum suggests, you will find yourself starting to think before you spend, and you will probably be astonished at just how quickly you can pay off your debt. My take home pay isn't many leagues about yours, but I've managed to save about 2k in the last year alone, not including overpaying nearly another 2k on my mortgage - and that's with all the extra expenses of running a house!

And yes, you may be feeling hen-pecked, but as the others have pointed out, far better that than 20+ phone calls a day from debt companies, or baliffs at the door...

~Jes

Thanks. I have always been a spender and not a saver. However I have come to realise that I have got very little to show for my money. Would love my own place!!!!!

Can i just ask you all a question? I have found two bags of clothes in my bedroom. I had bought these for going out but have had to cut out nights out completely since my panick began. One bag is from River Island. Still got receipt for 170pound plus bought on 1/10/8. Other lot is from Burton bought 4/10/08 and still got receipt. This is over the 30 days and I have NEVER returned anything in my life as I just kept stuff even if it was unsuitable/did not fit. I do not really need these clothes????

partickz

Hello? Anyone there ?

Buffythedebtslayer

you could try and return them? sometimes they do let you?

or at least they have let me. Can you ring first and ask? - it worked for me

xx

partickz

Buffythedebtslayer wrote: »

you could try and return them? sometimes they do let you?

or at least they have let me. Can you ring first and ask? - it worked for me

xx

I always get real nervous on the phone. I suppose I could just wear the stuff but I have loads of t-shirts that I have hardly worn. If I hadn't had my head in the sand, I may have realised a couple of weeks ago that i had this stuff and may have got my cash back!!! (don't tell anyone but the Burton's receipt is for nearly five hundred pound....... t-shirts, a couple of hoodies, jeans, and a ridiculous amount of pants...............:mad: :mad: :mad: )

doodledo_2

Definately worth trying to return them, you never know you might be in luck.

Other option could be to sell them on Ebay, brand new with tags clothes might raise a few quid rather than being stuck in bags at yours.

Any of them any good for xmas presents lol. How about selling them to your mates?

partickz

doodledo wrote: »

Definately worth trying to return them, you never know you might be in luck.

Other option could be to sell them on Ebay, brand new with tags clothes might raise a few quid rather than being stuck in bags at yours.

Any of them any good for xmas presents lol. How about selling them to your mates?

I will give the shops a try today and see what they say- pity I have zero confidence in such situations. I could recycle some as presents or try to swap them or get a plastic gift card in exchange to buy Christmas presents in exchange for them. My debt-free GF says if I get a plastic card in exchange ask Burton if i can use it in Topshop etc. If they say yes she will do her planned shopping in Topshop with it and give me the cash so i can pay the debt....... (she is the organised one in the relationship)

If I cannot use it in Topshop, this could also cover my clothing needs for the next while as i am just swimming in clothes in my bedroom- most of which i have hardly worn!!!!!!:o any arcadia staff about????

partickz

Hey. Just back from Burton. Got a 'Gift Card' for nearly 500quid for all the stuff I bought before my LBM. Was just over the time for getting my cashback.:o Did not do my return in River Island as the queue was way too long and I did not want to hold people up.

Feel a good bit better now that I got that out the way.

evenasus

partickz wrote: »

Hey. Just back from Burton. Got a 'Gift Card' for nearly 500quid for all the stuff I bought before my LBM. Was just over the time for getting my cashback.:o Did not do my return in River Island as the queue was way too long and I did not want to hold people up.

Feel a good bit better now that I got that out the way.

You could try selling your 'Gift Card' at a reduced value.
This would give you cash to pay off some of your debt.