My SOA :( any help would be MUCH appreciated!

louby_lou

I dont currently pay any interest on my CC or OD debt (only the small amount on student loan so not going to think about that until payback time) so am loathe to use my ISA to wipe these clean, especially since the annual payout is almost upon us. Also paying off debt is going to motivate me more than saving it up - that red is going to kick me into shape i hope! I feel a lot better about things now thanks to all of your help and have started a money diary. i will spend a lot less hopefully this month thanks to my holiday (i wont be able to socialise haha!) I'm thinking a month of not going out drinking and spending will do me the world of good both health wise and money wise! i shall post my plans for my wages tomorrow thanks again guys xxx

kathfisch

Hi! Well done for having the courage to post and be determined to change your ways!

May I suggest that you take some time to think about why you are spending so much? I know that, in my case, my overspending was a direct result of other things in my life, insecurites and upsets. Buying things was a way to compensate, a way to make myself feel better if only for a short time. I don't think I'm alone in this either, its a very common underlying cause of excessive spending. Maybe when you do really try to cut back your spending you will discover the feelings it has given you that you are now missing.

Its not a case of being negative and self-pitying, rather being honest with yourself and maybe helping to stop the spending by realising what causes it.

Best of luck

Kath

melancholly

i imagine that after your sandwich year you'll have a much smaller income, so you'll want to have most of your overdraft empty to use in your final year of uni?
this may sound stupid, but is there a hobby you can start doing at home so that you can keep busy and not just sit around wondering what bar your friends are in? it might make it easier to keep at it! maybe you could have a set consumables amount for each week and take it out in cash, then when it's gone there's nothing you can do (as long as you don't reach for the cards!). good luck - and it's so so good that you're thinking about this now and not waiting until graduation when it would be a lot worse.

louby_lou

good idea! i think i shall turn my hobby into not only money saving but money making - I'm going to set up a shop on eBay. Ive been using it for 7 years so I know the ropes by now haha! With all these things ive wasted my money on I guess I might as well try and recoup some of that cash by selling things on there. Thanks for the motivation guys! I'm still keeping the money diary going. its shocking how you can spend so much in one day without even realising. No wonder that tenner i'm sure is in my purse is always gone when I come to look for it! xxxxxxx

louby_lou

Well guys just worked out my needs for the month (I'm only here til next Friday morning so dont need much cash) and after my bills and a bit of money for emergency still in my OD I have managed to knock £380.00 off the credit card this month. This takes me down to just over £-1600 so I'm pretty chuffed. I would never have had the motivation without everyone here. I am now (as of tonight) going to stop carrying it with me and leave it at home for emergencies only. Its still at 0% for a good long time so I'm okay for a bit.

The next steps are:

*close the Capital One card (no balance)
*close the Topshop card (no balance)
*transfer my holiday savings to my new Nationwide Flexi Account in preparation of the holiday (for great exchange rates).
*sell eBay items

hopefully going to keep up this moneysaving trend!

Thanks again everyone who posted! It really motivated me!

loubie_lou

I was a bit confused for a second then, thought it was me posting!! LOL

louby_lou

haha - you can help with my cc if you like? xxxx

Willsnarf1983

it seems to me that u want everything now rather than waiting, holiday this, driving lessons that (even thou ur not getting a car...) i would do one aim at a time because u simply cannot afford to do everything in one hit

Will

louby_lou

i started to learn to drive at 17 so i think the time has come to finish that off (22 this year). the holiday is a week tomorrow so no going back from that in any form. I have never been on holiday in my life and I'd be a fool not to go to Barbados for the price of the flight alone! (the villa is the boyfs so therefore free) im pleased with the paying off some of the cc today so I'm going to stay positive.

LookingAhead

Stay motivated Louby_Lou...

Don't end up like me...a one time good time girl living for the moment and socialising every weekend (and many weeknights too!) and having to have a wardrobe full of great clothes (most of which hardly got worn)......before you know it you've frittered away your savings and you're in a 5 figure sum of debt! I wish this site had been around (or if it was, wish I'd have found it!) 5 years ago!

You can (and should!) enjoy being young/student...but - as you know now - on a lot smaller budget. Good luck! :beer: