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How do you lot keep yourselves motivated while in debt?

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How do you lot keep yourselves motivated while in debt?

edited 30 November -1 at 1:00AM in Debt-Free Wannabe
26 replies 9.7K views
IWILLSORTMYDEBTSOUT!IWILLSORTMYDEBTSOUT! Forumite
49 posts
edited 30 November -1 at 1:00AM in Debt-Free Wannabe
Hi, am having one of those days I'm afraid. How do you keep going with the proverbial chain round your neck??

I owe £25k, and it makes so annoyed to think of the way I've blown it all and got sweet f.a to show for it. I was sucked in by addiction and didn't get until it was far too late.

At 25 and still living at home I'm coming under more and more pressure to move out but how I can afford too I don't know.

I'm in the process of setting up a Payplan arrangement but even with that it's going to suck half what I earn a month from me. At this rate it'll be the best part of 6 years before I'm free.

Even the cheapest place to rent is £450 round here, and a mortgage is out of the question as my credit rating has been shot to pieces over the past couple of months.

Before you ask no-one I know know's the extent of the problems I've got and that's the I'd like it to stay.

Sorry for the rant just needed to have a moan to someone.
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Replies

  • KimberleyKimberley Forumite
    14.9K posts
    It's a case of having to keep going, thats life. Once it's clear you'll feel fine and relieved :D Just keep going and you'll get there :beer:
  • GerradeneGerradene Forumite
    179 posts
    It has been about a month since i realised i needed to sort out my finances and i too get downhearted.

    I am 25 too and how i get through it is i put some money into a savings account for specific things, at the moment it's a new cooker, and then next time i get paid if i don't want or need the thing i will put that money towards my debts. That is my plan at the moment and it really helps me to see that i do have some money.

    Some days are worse than others - and you can always share your thoughts on here - my parents know about my debt but i prefer browsing the threads on MSE. I look at the success stories and that makes me think 'it can be done!'

    Hope you feel better after your rant :D
    Official DFW Nerd Club member no. 019 :D
  • mattp_3mattp_3 Forumite
    270 posts
    Still makes my blood boil to think I can't buy a house in England now and there are 1000's of people sat on £100,000's of equity who are buying up the smaller properties as "investments!" makes me sick - but there we go - I voted Labour but it did no good, the poor always get poorer!

    I'm in exactly the same boat and it really gets to you when you can't spend any money to cheer yourself up, but battling with a spending addiction is all about proving to yourself that material goods dont make you happy in the long run - we now have a massive industry (commonly know as advertising and marketing) that has one intention - to make you feel that you NEED that 42" plasma screen when a 20" is fine, that you MUST smell good, look good, wear brand names, buy HP beans instead of Smart Price and drive the latest model of VW Golf not a 15 year old one .....so..........................i try to get the most out of free things like going on bike rides at the weekend - costs !!!!!!-all and you get to see the beautiful countryside at the same time which makes you glad to be alive sometimes! It also gets you fit and I don't care what anyone says, if you get yourself healthy you feel a lot better about yourself - debts or no debts!

    There you see - you thought YOU were ranting lol

    Keep your chin up!

    Good Luck!
  • well first of all dont feel sorry for yourself be positive its only debt and to be honest not that much realy ,i get through days and weeks quite easily i go to work knuckle down and pay my debts what i can afford ,in 2 years ive cleared half with thesupport of just my family. i save so much a month in a credit union and building nicely thankyou , i deal with the creditors directly and have no truck with these dca,speak to the creditors offer what you can and stick toit, the area i work and what ive seen and see on a daily basis i can assure you you are very lucky you have your health a roof over your head etc dont waste your time worrying 20s are great ,6 years isnt long, an average car loan is over 4years look at it that way chin up be positive
  • RaquelaRaquela Forumite
    359 posts
    I come on here and read the forum. It never fails to remind me why I'm doing this and there is light on the other side :-)
  • Mattp wrote:
    Still makes my blood boil to think I can't buy a house in England now and there are 1000's of people sat on £100,000's of equity who are buying up the smaller properties as "investments!" makes me sick - but there we go - I voted Labour but it did no good, the poor always get poorer!

    I'm in exactly the same boat and it really gets to you when you can't spend any money to cheer yourself up, but battling with a spending addiction is all about proving to yourself that material goods dont make you happy in the long run - we now have a massive industry (commonly know as advertising and marketing) that has one intention - to make you feel that you NEED that 42" plasma screen when a 20" is fine, that you MUST smell good, look good, wear brand names, buy HP beans instead of Smart Price and drive the latest model of VW Golf not a 15 year old one .....so..........................i try to get the most out of free things like going on bike rides at the weekend - costs !!!!!!-all and you get to see the beautiful countryside at the same time which makes you glad to be alive sometimes! It also gets you fit and I don't care what anyone says, if you get yourself healthy you feel a lot better about yourself - debts or no debts!

    There you see - you thought YOU were ranting lol

    Keep your chin up!

    Good Luck!

    Wouldn't be so bad if it was spending addiction, most of it went up in smoke (if you know what I mean)
  • I find the best source of motivation sometimes are Audiobooks. I'm not saying piracy is a good thing, but various BitTorrent sites have some good ones listed :)

    I have listened to at least 30 audiobooks relating to millionaires, from studies in to the psychies of the most affluent to guides on rags to riches straight from the horses mouth. They are good because I can do other boring stuff whilst getting motivated (like ironing, washing up etc. although I found out my laptop dislikes getting wet hehe)

    The 3 I would recommend most highly are "David Bach - The Automatic Millionaire", "John Cummuta - Transforming Debt in to Wealth" **** THIS IS A MUST THAT ALSO CONTAINS A FANTASTIC NEW WAY OF MAKING COMPOUND INTEREST WORK IN YOUR FAVOUR FOR A CHANGE! **** and the single more important audiobook ever made: "Thomas J Stanley - The Millionaire Mind" - this one turned me upside down as it totally changed my perceptions on millionaires and wealth producing activities. I would wear out my capslock key telling you how important this one is, especially if you used to waste lots of money living the lifestyle like I did.

    Ok, so it might be some time before I have my first million in the bank, but by following some of the principals I learnt from these audiobooks, it has made a huge impact on my life already.

    Also the John Cummuta method for transforming debt in to wealth shows how anyone can become debt free in 5 years of less, regardless of how much debt you have. It sounded like herecy but when I did the math for myself, I almost ran and hid in a cave lol. Best kept secret or what?! ;)
  • dudleyboydudleyboy Forumite
    765 posts
    Hi, i know how you feel and I used to get the same. My total debt wasn't the same as yours but here's the way I used to look at it to keep myself going...

    By the time you're 30 you will either:

    a) be in the same amount of debt you're in now
    b) be in more debt than you're in now
    c) be in less debt than you're in now

    either way, in 5 years time you're still going to be 30.

    Given those 3 options I went with (c) and it's been my motivation ever since. not much of one i grant you - good God i'm nearly 30!!! _pale_ :wink: - but at least you'll be in less debt... because while you're only young once... you're old for a lot longer! :wink:
  • Hi, am having one of those days I'm afraid. How do you keep going with the proverbial chain round your neck??

    I owe £25k, and it makes so annoyed to think of the way I've blown it all and got sweet f.a to show for it. I was sucked in by addiction and didn't get until it was far too late.

    At 25 and still living at home I'm coming under more and more pressure to move out but how I can afford too I don't know.

    I'm in the process of setting up a Payplan arrangement but even with that it's going to suck half what I earn a month from me. At this rate it'll be the best part of 6 years before I'm free.

    Even the cheapest place to rent is £450 round here, and a mortgage is out of the question as my credit rating has been shot to pieces over the past couple of months.

    Before you ask no-one I know know's the extent of the problems I've got and that's the I'd like it to stay.

    Sorry for the rant just needed to have a moan to someone.

    On a positive note, you have realised you had a problem with debt now, while you are young, and you are doing something about it. I wished I had realised it when I was your age (I finally had my lightbulb moment when I was 36 and now I will be paying it off until I am 44!). Well done for sorting it out with Payplan, and stick with it. In a few years you will be debt-free and will know where every penny goes, while lots of others will be still drowning in debt. Keep your chin up and go forward knowing that each month you are chipping away at your debt. That's what I do when I start feeling low. Good luck :)
    Debt-free in May 2015 with the help of Payplan and MSE
    Lightbulb Moment: November 22, 2004 :idea:
  • Wouldn't be so bad if it was spending addiction, most of it went up in smoke (if you know what I mean)

    Yep. So even on the days you are feeling low, at least you have gained control over your finances as well as the other issue. Stick with it :)
    Debt-free in May 2015 with the help of Payplan and MSE
    Lightbulb Moment: November 22, 2004 :idea:
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