Diary of a Poor Person aged 46 1/2

mrscmr

:pthank you everyone... yes i am at the point of no return. value of assets is greater than debt but doesnt feel like that when its only on paper. 4 yrs and it will be all paid, but for now we shuffle along daily.
i spend so many hours on here reading and thinking of things i could do.

each month debt gets smaller...

cuddlymarm

Hi

Can I be cheeky and ask if the Cyprus house is a holiday home? If so do you rent it to other people cos if you can that might ease things up a bit.

Oh and I'm 47 1/2 by the way and we know a few couples that are in your situation. Its very easy to get into debt when you have regular weak moments and buy lovely things for yourself and your family. It seems (until now at least) the more you spend the more the credit companies love you.

At least you are doing something positive.

Cuddles:rotfl:

mrscmr

yes the cyprus house gives us an income of about 20k a year which covers the mortgage payments. getting credit is soo easy and then you take advantage of it and end up like us.

good news today, reduced debt by £200 pounds .. yes i count it day by day its the only way to keep it going, i have a spreadsheet which i copy each 4 weeks and it shows the decrease - even if its only a few hundred off the overall total.

ramblingtree

Hi mrscmr,
Hope you don't mind me stopping by. I understand your situation completely, my debts are a lot lower (although what isn't on my signature is 2 mortgages...) but I understand how easy it is for things to spiral. We were also in the trap of thinking, we earn a decent amount, which keeps edging upwards, so we'll be able to pay everything off at somepoint. Then you realise that somepoint never comes and you want to pay it off now! Sounds lke you've got a great plan to get it all paid off in 4 or 5 years. The difficult thing is to keep the motivation going.
I'd recommend doing the SOA, even if you don't post it on here. It'll really help you see where the money is going, and will allow you to do all the painless cuts before starting on the painful ones.
before I start rambling, good luck! And I shall pop back and see how you are doing. I've been a lurker on here for years and have only just officially joined so am enjoying being able to write things!
Enjoy the sunshine.

mrscmr

Well as long as we can keep up the repayments during the next few years then we stand a good chance. we have over 3k a month just on credit repayments. its scary if you actually look at it. i assume that we dont declare ourselves bankrupt if we have assets worth more than we owe? not really sure what bankrupt is - anyone ?

some days are better than others.

mrscmr

well another sunny morning... this morning started for me at 4.45am woke up with big worries on head. firstly money one - thats always there and then secondly the work worry cos i havent done the work i should have done.

im freelancer and have 5 outstanding projects to finsih, but just cant get my butt moving which is stupid cos if i work then i invoice then i get PAID! duh its not hard. then had thoughts of paying extra into the smallest debts we have to see what impact that might have long term.

then late last night i had calculated that we had reduced our mortgage by £4500 since november - so surely thats going in the right direction.

well have good money saving day everyone. now im gonna get this work done/finsihed and invoiced hurrah!
check back later and shout at me if i havent finsihed it:rotfl:

beanielou

Hope you are working hard so you can get those invoices out!

Nargleblast

mrscmr - we have all had fun chucking money away and then come to realise how big a hole we are in. For some it's a few grand, for others several. At least you have put it down in black and white and can forsee a debt free future one day. Remember that assets can gain or lose value, and a house is only worth as much as someone is prepared to pay for it. I think several people gambled on the value of their houses and now wish they hadn't. We are now older but hopefully wiser and with each others' support will get through these difficult times.



I am now official DFW Nerd 1162

epsilondraconis

Hi MrsCMR - I trust you are cracking on with your work and not spending too much time on MSE - it can be rather addictive. I've noticed that you posted today at 10:30, 11.51, 11.55 and 12.36. We'll be keeping an eye on you to ensure you get your work done, so that you can submit your invoices and reduce your debts! :cool:

skysky69

So easy to get distracted by MSE.... :rotfl: