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Slightly dazed and confused..... Call this my 'Lightbulb moment'
MeandtheLilUn
Posts: 65 Forumite
Being that there are already so many great ppl on MSE, and me being a regular visitor (yet not member until tonight!) I decided I should put up a post with a brief history (so to speak).....
I think like a lot of ppl, hitting 18 and getting offers of CC's left, right and centre, and wanting to 'prove to the family i could hold my own' :rolleyes: I went ahead and decided to get myself a CC with HSBC, not knowing anything about them I figured I would be safe with one from my own bank... I asked for a limit of £500 (I wanted to redecorate, and kit out my room with new gear) and they gave me £1k... to cut a long story short;
Me + plenty of cash (+CC) + Christmas = skint -£1000(ish)
and since that day I have just got worse, the limit on the CC went up, as did my spending... and now I have 2 CC (1 thanks to MSE for BT's
) 3 store cards (DP, Next, Mothercare) an OD and loan as well as the usual bills and now a couple of arrears 
.
I wasn't doing too bad until I found myself pregnant and single, and needing to provide for an unborn child on my own, thats when I went completely nuts, was scared to death of not being able to afford what I wanted for the baby, opened 3 store cards, and decided to spend like a crazy person!!!
After already reading through a couple of posts I now that there is a time old tradition of posting up a SOA, and unfortunately I haven't got round to working it all out yet, but I have a rough figure of £10k floating around my head... I shall work it out and post it up so everyone can see (and I can shudder) As well as all my regular outgoings (which again - make me shudder)
Anyway, thanks in advance to anyone who spends time to read this - if only i'd acted sooner?!?!
Debs xx
I think like a lot of ppl, hitting 18 and getting offers of CC's left, right and centre, and wanting to 'prove to the family i could hold my own' :rolleyes: I went ahead and decided to get myself a CC with HSBC, not knowing anything about them I figured I would be safe with one from my own bank... I asked for a limit of £500 (I wanted to redecorate, and kit out my room with new gear) and they gave me £1k... to cut a long story short;
Me + plenty of cash (+CC) + Christmas = skint -£1000(ish)
and since that day I have just got worse, the limit on the CC went up, as did my spending... and now I have 2 CC (1 thanks to MSE for BT's
) 3 store cards (DP, Next, Mothercare) an OD and loan as well as the usual bills and now a couple of arrears .I wasn't doing too bad until I found myself pregnant and single, and needing to provide for an unborn child on my own, thats when I went completely nuts, was scared to death of not being able to afford what I wanted for the baby, opened 3 store cards, and decided to spend like a crazy person!!!
After already reading through a couple of posts I now that there is a time old tradition of posting up a SOA, and unfortunately I haven't got round to working it all out yet, but I have a rough figure of £10k floating around my head... I shall work it out and post it up so everyone can see (and I can shudder) As well as all my regular outgoings (which again - make me shudder)
Anyway, thanks in advance to anyone who spends time to read this - if only i'd acted sooner?!?!
Debs xx
In a HUGE mine... unfortunately, there's no gold!
16.05.2009 - Biggest achievement... CUTTING UP THE CARDS WOO!! :j
DFD: sometime in the unforseeable future 
0
Comments
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Hi and welcome!!!
First of all well done for posting as that is often the hardest bit !!! now just take a deep breath and see if you can post up a SOA and some lovely people here will flood you with support and advise!!!
Cady0 -
you probably know already but there is a handy SOA calculator at www.makesenseofcards.com
Welcome to the boards£34,547 (Dec 07); Current debt: £zilch (Debt free December 2010)
Sealed Pot #389 (2010=£133)0 -
Hey, Thanks for the fast replies, I wasn't expecting that lol!
Well so far I have the following;
Mothercare: £695.51 (limit £750)
HSBC CC: £2128.87 (limit £2200)
Next: £627.08 (limit £1500 - just reduced from £3600 because of missed payment)
Virgin CC: £1442.82 (limit £1500)
Loan: £4498.20 (£124.95 til end - 3yrs?)
Dorothy Perkins: £260 (limit: £600 ish, not sure exactly)
Total: £ 9722.94
As well as this I have £357.43 in outstanding bills missed from last month...
A car that a family member has bought on my behalf, its gonna cost £20/wk for 5 yrs but they're telling me I don't owe them, I just really wanna pay for it!!
As well as my monthly bills... still compilin that lot!!
Good news is though, part of my LBM was to hand over every CC I had to my Nan - I've also told her not to let me have em unless I desperately need em, which I shouldn't hopefully!! :T I'm proud of myself for that....
Thanks
Debs xIn a HUGE mine... unfortunately, there's no gold!16.05.2009 - Biggest achievement... CUTTING UP THE CARDS WOO!! :jDFD: sometime in the unforseeable future0 -
Good start. Handing over the credit cards is a good thing.
There are people in these forums who can help you, and whatever happens you will make it.
The future starts here. Get your SOA down and see where the priorities lie. There are better people than me who will support you.
Be happy that your LBM has come as early as it has. Lots of us your age would have run away........Target acheived: _party_ Mortgage offset in June 2012!_party_Mortgage = -£98Endowment = £0Investments = £40,247[STRIKE]Deficit[/STRIKE] / Surplus = £40,149(at 22/09/2017)"Don't spend then save, save then spend!"0 -
Good luck with it all!!!! Ive found this to be a really supportive place!0
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As I've been trawling through this I've been realising i used to be so good at some of these things lol... the £2 savers for instance, I used to do it in high school ( I thought it was a fantastic idea that no one would pick up on lol) and I was loaded, I rarely got a £2 coin, so it was a pretty slow process, but it was always worth it!! I think I'll have to start it up again (shame... I got £12 in £2 coins a couple of weeks ago.. should have put em in a jar!
I've tried budgeting, but I end up failing, thats gonna be another priority, I travel 60 miles for work (total) each day, so fuel can be pretty high, and I don't take lunch, i live and work 2 minutes from tesco so it would cost me the same either way, cos i can leave things in the 'kitchen' at work if i want to. only problem I have with that is I get tempted for subways every now and again....In a HUGE mine... unfortunately, there's no gold!16.05.2009 - Biggest achievement... CUTTING UP THE CARDS WOO!! :jDFD: sometime in the unforseeable future0 -
Welcome to the boards. Looking forward to seeing you SOA....Achieve FIRE/Mortgage Neutrality in 2030
1) MFW Nov 21 £202K now £167.4K Equity 38% 3/4/26
2) £2.5K Net savings after CCs 14/4/26 (but owed £1.1K) so £3.6K
3) Mortgage neutral by 06/30 (AVC £38.5K + Lump Sums DB £4.6K + (25% of SIPP 1.3K) = 44.4K of £127.5K target 34.8% 17/4/26 (If took bigger lump sum = 66.4K or 52%)
4) FI Age 60 income target £17.1/30K 57% (if mortgage and debts repaid - need more otherwise) (If bigger lump sum £15.8/30K 52.67%)
5) SIPP £5.3K updated 17/4/260
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