Help changing my seeming addiction to debt

nearlyrich

Welcome to DFW Andy, one observation from me is that you say you go shoppping at the weekend with your girlfriend, that could be part of the problem, shopping has become a recreational activity not just for you but for many people. Can you change this habit to something that doesn't put you in the way of temptation? Maybe just go shopping when you really need something and do something else on the other weekends?

I know if my daughter says let's go shopping I am going to spend on stuff I don't really want or need, I usually end up taking some of it back because it's just an impulse buy and I don't really need it.

Good luck on your plan to get rid of your debts.

tallyhoh

If you feel the impulse to buy something, work out how many hours you have worked to pay for it.
Example: if you earn £7.50 an hour an average pair of jeans would work out at approx 6.5 hours at work. More if you add the interest charges on top.

It works for me.

Dinah93

At the start of the month I used to transfer out all the money I will be needing for rent, bills, food etc, only leaving myself spending money in the main account. Then as direct debits are due I transfer the money back into the main account. Other people do something similar but use their account for bills and have cash for spends, and when its gone its gone!

louby_lou

hey O/P - I could have written that post myself. Loving some of the ideas in here, especially the need/want notebook and working out how many hours you'd have to work for something (dont forget to minus tax and NI lol!) I'm going to start doing the want book. if i really want something and its still in the book after a period of time i'll allow myself it. no more buying clothes for the next night out when i have an ENORMOUS wardrobe as it is. Good luck and let us know how you get on, sounds like you are on top of things just need to stop the frivelousness. (Join the club ) also I find Martin's deterrant calculator on the frontpage useful - even if its a small thing they can add up. mines bottled drinks and magazines. Nightmare!

lilian1977

Eddie, you say you always find you come home with a book, clothes etc when you go shopping - I think nearlyrich is right in saying you should do other things for recreation when you don't 'need' anything - the whole point of shopping is to purchase, or to look for things you need to purchase, so why put yourself in temptations way?

Also, is there a library on your way back from town? Perhaps become a member and instead of buying a book, pop in and see what they have. No spend, and you get to come home with a book!

If you don't want all the books/clothes you've racked up in the past, try Ebay, Amazon, Greenmetropolis etc to get rid of them, and throw this money at the debt.

Good luck x

IsoChick

I am dreadful for buying books and magazines!

Last weekend I joined our local library (and will be going every week!) and I decided which 2 magazines I most wanted and took out a yearly subscription (for ref, one is a gardening magazine and the other a poultry keepers magazine).

This means that the mags are delivered to my house - no shopping needed!

I've also started to do my weekly grocery shopping online - no more CD's, DVD's, books, mags etc to tempt me.

We also don't go into town unless we absolutely need something specific - no random browsing (and buying!). Shopping is NOT a hobby!

If you find yourself stuck for something to do - go walking, get an allotment (and grow your own food!), find a very low cost hobby!

aml1977

Hi Guys,

Is any one able to offer any advice to me?

I have a $4000 balance on a barclaycard and a £3500 balance on a santander card

I also have a loan with Halifax which is currently at £7500

I am paying £128 a month off my barclaycard and around £87 a month of the Santander card

as you know this is barley paying off any of the balance as most of the payment goes off the interest

I would like to consolidate these to a loan so that I am actually paying the debt - however, I do not think I can get credit to do this

any suggestions as I do not want to ruine any of my average credit rating

Thanks in Advance

Lori

Dinah93

Hi Lori, I would suggest you start your own thread on these boards so people can answer your query. However you will find the vast majority are extremely opposed to consolidation, as it is turning unsecured debt into secured debt. Have you tried a balance transfer to a 0% card? Also you will still be paying interest on the loan, and may not be able to overpay he loan, meaning you pay more in the long run.

Eddie_Catflap

Many thanks again everyone for all the advice, there are some great tips here, the card encased in ice is inspired!
I am going to start carrying a small notebook around with me but I have been increasingly proud of myself over the last two weeks as I've learned to resist the temptation to buy clothes, etc. when being dragged round the shops, I have everything I need and all I really need, when it comes down to it is a roof over my head and a bit of food. There was a good point made about distinguishing between needs and wants and Oliver James mentioned this also in his book, Affluenza (if anyone hasn't read this then it is a good account of how materialistic and emotionally distressed people have become in the most recent generations).

The points made about the library are very pertinent also, I used to be terrible for buying books and having 6 stacked up in my 'to read' pile (usually as a result of not being able to resist the Waterstones 3 for 2 deal!). Recently I have sold some paperbacks that I was never going to read again but it is difficult with hardbacks and ebay because I think buyers are put off by the hefty postage, I have sold the odd hardback for a few pennies and it hardly seems worth the effort. However I have had much more success with clearing out CDs that I was never going to listen to again.

I've always found it easy to entertain myself with reading and trying to expand my mind (unsuccessfully some might say!) and it may be that my girlfriend is a shopaholic but if she enjoys that then who am I to argue? I am happy in the knowledge that I come home having had a bit of fresh air, spent a couple of pound on a newspaper and cup of tea and nothing more

Life is a balance I guess, everything in moderation.