Me and My Debt

fabulous_girl

Hiya,

My debt is quite small compared to some so I was sceptical about posting here, but its still enough to keep me awake at night. I graduated 2 years ago and still have a student overdraft of 1499.99. Its interest free up to 1500 so I keep it at that amount.

My main current account is now constantly overdrawn too, I haven't seen the black for absolutely months. I have only one credit card, on which the balance is paid off monthly in full by direct debit so I can get the 1% cashback (Egg Money).

I am 23 and have had a couple of serious jobs since graduating, working in sales which i hated and quit, just before the company went under. I also worked in events for a few months on a short term contract. I was organising an annual conference and they said they'd have me back again this year, but now it looks like that company is closing too. since then I have been working in a casual call centre type role, which is easy and unstressful but the pay isn't great, and the hours begin to diminish after March. I also have a Saturday job in a shop, where I earn cash, so this means I am not out spending on Saturdays at least! But I am so TIRED. Last week I worked 47 hours and I still earnt about half of what my boyfriend did on his normal 37.5 hour week.

We want to go travelling in about 18 months, but I can't even begin to save until I get rid of this debt. I am looking for a new job, but as I'm sure you are aware, there aren't all that many going round at the moment! I am trying my best with online cashback, scratchcards and bingo, and selling what I can, but I just wish I could go one hour without thinking about money! I keep a money diary of everything I spend each day. I buy myself hardly anything as it is and am trying to be so frugal but I never seem to make a dent in my overdrafts.

My current level of debt is: 2472.25
Ideally I wanted to pay this off by June so I can start saving, but with no new job in sight I just don't know how this is possible. Help me!

ExNicotineQueen

Hi FG,

Just wanted to wish you luck in your squashing your debts. I'm new to all this but someone should be along shortly with the SOA link for you to post all your incomings/outgoings and the lovely peeps on here will give you pointers in reducing the unecessary costs and slaying your debts.

fabulous_girl

Thanks a lot, I have actually managed to secure a few weeks work at a very slightly higher rate of pay for a few weeks, so thats one thing. I will do a couple of evenings and sundays at my current job as well to keep some extra cash coming in. I might be working myself to hard but if i manage to pay it all off and go travelling next year on schedule, it will all be worth it!

Pollycat

Hi & welcome.
Here's the template for your SOA (Starement of Affairs):

http://www.makesenseofcards.com/soacalc.html

Once you've completed it, you'll have lots of advice on how you can cut your spending, increase your income, reduce your debts.

Regards