Im new, and desperate for help, im sick of feelin like this

topbadger

Oh, and you've put down paying the total of all your loans from friends every month – presume you don't actually mean that?

abnerb

yeah ive forgotton to put in my child maintance, you can now see why i need help and i am so desperate to get out of this,

i have the life insurance incase something happens me then my daughter will be left with something, i think thats the least i can do. i think or am i just wasting money???

abnerb

yeah i just put in all my debt in the soa, ive never done one before so i probs need help with it, the money i owe to my firends i would like to pay back as soon as possible, and also all my debts too on that note, i just have no idea how to manage my money,

pepe2008

Breifly,
Get rid of the Loan Shark, Vanquis card straightaway, one payment, gone!

Pay the minimums on the other CCs, get your freinds to be tolerant for a while and concentrate on those Payday Loans paying them off most urgent?expensive first.

If you can be really strict with your spending ( take out a SET amount of cash for spending each week and stick to it ) it shouldnt take you too long to get sorted.

DISCIPLINE! and dont feel guilty about being in debt while earning good money! The more I earnt, the more I owed!

50broke

Hi.... do you eat and buy clothes etc entertainment put all this down...

poorandindenial

£35 is quite a bit for life insurance, personally don't really think it is worth it, but then I don't have kids or a mortgage so am probably not the best person to talk to that.

Do you spend nothing in groceries at all? even assuming that your friend is including food in the rent you pay do you never buy lunches at work? toiletries? etc etc

Car insurance is sky high. Before you go switching this though you should look at comparing through the quidco.co.uk website (they link to comparason websites) and then switch through quidco to get some cashback.

Also do you never get your haircut, go out or buy birthday presents?

I think you will need to get in touch with one of the debt advice charities that I linked to earlier, there is a big deficit here and you may need help negotiating with some of these creditors - my big concern, like yours, is the payday loans, I don't know how good they are at accepting payment plans etc etc.

It is too easy to say you are rubbish with money, now is the time to learn what it all means and to get familiar with what you spend your money on each month. Don't worry, you will soon know it so well that you can produce a statement of affairs to the nearest penny with nothing more than a pen, some paper and your memory.

abnerb

thanks pepe,
that sounds like a good start, over the lst few months ive wanted to do something but as you say i need disipline, i like the nice life but if im honest im not living it as im worryin all the time and get myself down so much about being in this situation. i get paid on the 9th of this month and i am going to clear vanquis in one go and clear the 2 small pay day loans.

i like your idea of paying how much to spend each week, i rarly look at my account, i just work out in my head approx how much ive got left and normally its not much

yeah i cant understand how ive got so far in debt, i got the new job 7 months ago and since then ive got myself into more and more debt when im now earning double what i was earning this time last year and i wasnt in this much debt then. how did this all happen????

pepe2008

And Mrs Pepe says,

Tell your mates to stop lending you money!.......too easy!!

gettingbetter

start keeping a spending diary
every penny you spend
write it down you will be
surprised where your money goes

kas xx

abnerb

guys i can only say thanks very much so far for this advice, today is going to be the first day of my life and im going to do this. im going to sit down and look at the soa and do it penny for penny on everything i do or spend.