Gran helping me get out of debt.

RobertoMoir

Definitely go with what Evanasus says. Either sell the card or let your girlfriend use it as you suggest, or buy presents for other people with it. Well done for getting a good slice of your money back for returning the clothes!

As for your reply to my comments, You should obviously figure out what the mystery insurance is. If you don't know what it is then you couldn't use it even if you needed it. At that amount, it isn't one of those store warranties for a stereo or a computer or something like that is it?

Definitely make sure your car insurance is right, and consider selling the car or if it's a flash one, 'trading down' at the very least, as you don't use it.

Similar thing for the mobile, if you don't use it that much and you're out of the contract period either ditch it full stop or go for a PAYG phone. That last one would work well for still letting you receive calls on the move cheaply even if you were having a "lean" month for spare money and couldn't put much credit on it.

partickz

RobertoMoir wrote: »

Definitely go with what Evanasus says. Either sell the card or let your girlfriend use it as you suggest, or buy presents for other people with it. Well done for getting a good slice of your money back for returning the clothes!

As for your reply to my comments, You should obviously figure out what the mystery insurance is. If you don't know what it is then you couldn't use it even if you needed it. At that amount, it isn't one of those store warranties for a stereo or a computer or something like that is it?

Definitely make sure your car insurance is right, and consider selling the car or if it's a flash one, 'trading down' at the very least, as you don't use it.

Similar thing for the mobile, if you don't use it that much and you're out of the contract period either ditch it full stop or go for a PAYG phone. That last one would work well for still letting you receive calls on the move cheaply even if you were having a "lean" month for spare money and couldn't put much credit on it.

Thanks Roberto. The mystery insurance appears as "AIG Europe UK Ltd" on my online statement????

My GF has already confiscated the Burton gift card as I was talking about buying a jacket that I saw while doing the return in the shop when we were walking home. I have four good winter coats that I have hardly worn so do not need another!!! My GF is real sensible with money and wastes nothing!!

The car is a Ford Fiesta that belongs to my brother who has moved to Dubai. I am insured as a second driver on the car as he added me to the policy and I took it over. I rarely drive it. Was just checking my online statements and have only put 45pound worth of fuel in since August and still have half a tank- I just drive it to the shops when am feeling lazy! Guess am keeping his no claims bonus going.

I have looked out the number for O2 and will cancel my phone as the package I am on is really uncompetitive now. Will weigh up PAYG vs Contract options.

lexie2005

I want to be really honest with you here & please don't think I am trying to preach. It is lovely of your gran to help you out but I am worried that you won't learn this way. When I was about 20 I ended up with loans, storecards & credit cards totalling about £6000 which I used money my nan had saved for me since being young to pay off. This taught me absolutely nothing & I carried on spending, met my DH who unfortunately is as bad with money as I am & we have ended up in an IVA owing more than our mortgage!!! I have now well & truly learned my lesson & think that until the day our IVA went through I still didn't realise the seriousness of my debt & that was my LBM, I am not sure you have had yours yet & you need to make sure you have before you accept your grans offer of help...... Hope you sort things out soon & for good, don't do what I did!!!!

miss_corerupted

i would cancel car insurance tbh!! what a waste if you don't use it!!

I'm currently going thorugh my house full of things i bought and never needed. Any money i get from them is a bonus that i paid an extra £100 of my credit card this month dead chuffed

partickz

lexie2005 wrote: »

I want to be really honest with you here & please don't think I am trying to preach. It is lovely of your gran to help you out but I am worried that you won't learn this way. When I was about 20 I ended up with loans, storecards & credit cards totalling about £6000 which I used money my nan had saved for me since being young to pay off. This taught me absolutely nothing & I carried on spending, met my DH who unfortunately is as bad with money as I am & we have ended up in an IVA owing more than our mortgage!!! I have now well & truly learned my lesson & think that until the day our IVA went through I still didn't realise the seriousness of my debt & that was my LBM, I am not sure you have had yours yet & you need to make sure you have before you accept your grans offer of help...... Hope you sort things out soon & for good, don't do what I did!!!!

Thanks. I welcome all advice. I am really careless with money. I was dependent on overtime to pay my debts whilst still being able to spend spend spend. I ignored warnings from my GF and kept on spending like there was no tomorrow. Having to keep up the facade that I was OK for the last few months knowing that I was only a few pounds away from my limit was a horrible feeling. I even spent money I literally needed for a debt repayment so that I did not 'appear' skint to a mate. I am lucky that I have my Gran and Mum as a safety net. Wish I could say for sure that I have changed my ways forever>>>>>>

partickz

miss_corerupted wrote: »

i would cancel car insurance tbh!! what a waste if you don't use it!!

I'm currently going thorugh my house full of things i bought and never needed. Any money i get from them is a bonus that i paid an extra £100 of my credit card this month dead chuffed

Have just been speaking to my brother on MSN about the car. He says that he has no intention of returning to Scotland any time soon. As far as he was concerned the car was mine until it was ready to be scrapped!!!!! I might just sell it as I managed without a car for 6 years!!! I passed my test at 17 and did not drive again until I was 23. My work is a ten minute walk from my house and there is no where to park there. My GF lives two streets away and my mates and regular pubs/clubs are all within walking distance. I just use it to nip to Tesco (which is only 5minutes walk)

RobertoMoir

partickz wrote: »

Thanks Roberto. The mystery insurance appears as "AIG Europe UK Ltd" on my online statement????

My GF has already confiscated the Burton gift card as I was talking about buying a jacket that I saw while doing the return in the shop when we were walking home. I have four good winter coats that I have hardly worn so do not need another!!! My GF is real sensible with money and wastes nothing!!

Well AIG are quite a big insurance group. No idea what the policy would be based on the name of the provider, you'll have to look into it.

And on the second part, not to preach, but really think about lexie's advice here. It's scary that you know how much trouble you're in, own 4 coats, and were still thinking of buying a new jacket. With all the help and support from your GF, Gran, and Mother, you still have to be the one that takes the steps to change the way you spend and budget for stuff. I hope you can manage it.

Don't take this the wrong way, but think about this: Have you really matured since you left School / Uni? You were talking about hating to feel like you were only left with pocket money a few posts ago, yet it sounds like you spend your wages like a kid getting a five pound note from their parents and racing off to the shops to spend it on a comic and some sweets as soon as they get it.

I won't ask you to answer my last comment, because I realise it's not something a lot of fun to read let alone reply to. Just something to think about to yourself.

Ames

I think you need to take a long hard look inside about whether you can cope with what your mum's suggesting. I was thinking about moving back in with dad a couple of years ago, but his conditions - not being able to go out even to the cinema until my debt was clear - were just too harsh. I wouldn't have been able to stick to it and so turned it down (there was also the fact that I'd be worse off financially). There's just no point agreeing to something because you're backed into a corner, you have to have some input too and come up with a plan you can live with.

Gina_of_course!

Patrick,

You are so lucky to have 3 strong women around you! Allow their advice to sink in at the same time as using MSE members for advice. Don't become dependent on them sorting things out for you though...

Good luck

paybacktime2008

Hi Patrick, Have you done the snowball yet? www.whatsthecost.com
I know it helped my lightbulb burn brightly after flickering for a while.