Newbie signing in.

Clarienne

Hello everyone, I've known about this forum for a while, but have decided now is the time to tackle my debts and I'm not going to do it without some motivation and moral support - so here I am. :D

Here's the score: I'm in my 30s, and married with a young daughter. Between us me and hubby have around 10K of debt. I ran up a few thousands worth of debts at Uni, then never ended up getting a good enough job to pay it all back. My debts have hung around for years and years, and I want to see them gone - but I've developed habits of laziness, and only working hard enough to maintain my situation rather than improve it. My husband has been through bigger financial ups and downs: overspending a lot, whilst like me being laid back and chosing low stress/low pay careers. He's calmed down his spending a lot now, especially now we have a daughter to think of, but like me has spent years in the mindset of debt just 'being there' and doesn't really believe deep down that we'll ever be in a financially good place unless we 'win the lottery'. I really want to get our attitudes towards money into a healthy place as a family, and get us debt free and in control.

I'll post more details later, but roughly we have:
~£4200 my student loans. Perenially deferred, and I'd love to see them payed off.
£750 and £600 overdrafts on my two current accounts.
Hubby also have two overdrafts on two current accounts that he lives in - not sure how much but ~£500 each.
A 5-year loan that hubby has been keeping up with payments, I think its in its 3rd year now. ~1or 2K?
~£2000 on a high interest Barclaycard. We'd been really good and payed this off by last summer - then the overtime dissapeared at hubbies work and I ran this up again 'just keeping us going' although this was a mistake, and I should have tightened belts bigtime instead. I'd like to see this payed off asap and us be credit card free again.

At the moment we are struggling to pay basic bills and make ends meet, never mind get debt free. I am a housewife, and am in the process of registering as a childminder to get extra cash which should take us off the breadline and give us some flexibility. My husband earns around £15K and does what overtime he can.

Well - I'm looking forward to airing my financial laundry in public, and getting it done, and meeting other people doing the same. :j

shaggydoo

I'm a newbie too:D Good Luck with your DF journey. I'll back in to see how your getting on:money:

Clarienne

This week's spending:

I've paid the council tax (we're up to date :j), and the water bill (no need to think about that for another six months :j). I've filled the car with petrel (£30) - had to be done to visit relatives over the weekend - fuel will be our big spend this month as we've committed to another visit and a camping trip!

Presents for two birthday relatives: under £20 the lot, and I'm now realising I didn't note exactly how much I spent beyond that. Actually if you add in drinks in the evening more like £30. Naughty me for not setting a budget and sticking to it. :eek:This is not a regular thing - But -

Going out and birthdays seem to be my achilees heel. I freeze at the impending expense like a rabbit in headlights - let them creep up on me, and so don't leave myself time to do homemade gifts and food rather than shop bought. Nor do I budget for them, leaving myself not enough to spend, and feeling stingey - or I over compensate for memories of previous years poverty by spending too much....its a bit neurotic really. :rolleyes: So the goal for this month is to look ahead to birthdays and social occasions and budget for them.

So heres my goal for the next Easter visit - stick to a £15 budget: £10 in petrol top ups, and £5 in ingredients for chocolate yummy things for cousins.

Tixy

Hi Clarieanne:hello:

Have you started keeping a spending diary yet? its the most useful tip I'v had from DFW. I carry around a small diary (I got free from the hairdressers) and write down everything I spend in it. It shows me where I overspend and also knowing I have to write it down often means I decide not to spend at all.
When I go out for the evening instead of taking it with me (I'd be a bit embarrassed to use it in a busy pub) I take a set amount of cash with me then count what i have left at the end of the night (or the morning after if I've had a few too many). This way I now know where every pence of my salary goes.

As you've probably read on other threads start with a statement of affairs to identify how short you are of being able to meet your living expenses. If you are feeling brave you could post it on here for lots of suggestions on where to cut down and save. (You did say you were looking forward to airing your finances ). Here is the link http://www.makesenseofcards.com/soacalc.html.

Good luck
Tixy

Clarienne

Thanks Tixy - that's a really helpful site. Good tip about the spending diary. I'll have to sit down and do a SOA with hubbie. :eek:

Another debt I'd forgotten about is the £750 we owe the council in Housing Benefit repayments. Supposed to be paying that back at £50 a month but that's not happening at the moment. Managed to give them £5 today - need the rest to eat. :wall:

Dave101t

i was new on here only around a month or two ago, decided to look it up after hearing martin a few times on radio 2.
i wouldnt worry about the student loan, it has the lowest interest rate so pay everything else first. i pretend it doesnt even exist!

welcome!

Clarienne

Oh yes - reading that stuff about Student Loans is interesting - didn't know they were that low interest.

Lots of ebaying to do today while the little snoozes...