Taking the Plunge

Lewby

Hello everyone,

I have been visiting this site for a couple of weeks now and have been totally inspired by the support that everyone gives each other in dealing with what is such an all consuming problem! I can't tell you how much better I have felt over the last month by taking the advice you have given to each other, actually adding up what we owe and finally taking my head out of the sand (dragging my hubby with me!).

I know that we have a massive way to go (my signature is shocking!) but just knowing that there is an end in sight has helped so much. If we can really be debt free by the end of December 2009 then it will be truly amazing.

I will work on my SOA and get anyone who's willing to offer some advice about what else I can do to trim my expenditure. Although our debts look huge we have a good income between us (£65k) and have managed to keep all of our payments up and live reasonably well. I am just so sick of having such a huge amount of debt and feeling so guilty about it!!

My OH thinks I have become obsessed with saving money over the last month and thinks it will 'blow over' but I am so determind to do it... with your help. (He laughed his head off when I bought some Smarties, emptied the tube without eating them and then put a 20p in it!)

Sorry for the long introduction to me! I just wanted to 'take the plunge' and let you know I'm here. It has felt a bit rude and nosy to be lurking on the boards and not be posting anything - so here I am.

Lewby x

Broken_hearted

Welcome :j

LookingAhead

Welcome aboard! Really nice post there....I am sure when you post your SOA the advice will flood in and you can save even more money. If you are anything like me you certainly will become obsessed with saving money!! :rotfl:

Look forward to reading your next post.

LA

Lucifer

Welcome to DFW! There are loads of people on this board who will help you no end. Your OH will soon come around when he sees how determined you are.

Well done for your first and most important step to being debt free. May I ask how you managed to accumulate so much debt when you have such a healthy income? Did you make some bad investments or was it just general overspending.

headchef

Look on the bright side - your debt might be higher but your closer to paying it off than me :rolleyes:

Lewby

Thanks for the replies! It does feel good to have started to share things with you all. It's going to be a long path but at least I'm on it - heading in the right direction with the rest of you!

Lucifer - The debt has come from divorce, re-marriage, a husband who wants to change his car every two years but never gets back enough to pay off the last loan and generally wanting to have things now and thinking that if it's paid for with plastic then it doesn't count.

It's amazing how paying for a holiday, buying a new wardrobe, buying a new car, paying for your Mum's 60th birthday party and surviving christmas with 5 kids can so quickly add £20k to your credit card bills!!

That said, I am embarrassed about how in debt we are but an excited about beng able to show a reducing balance on my signature each month. I so admire all of you who consistently bring your debt total down and rejoice at paying another £30 or more off your credit card bill! This is one thing I'm happy to be obsessed with for the next 4 years as to have our salary all to ourselves would be incredible! In the meantime I'm watching every penny!!

Lucifer

Don't be embarrassed by your debt. Divorce is costly I am afraid, and there is nothing wrong with wanting nice things for your 5 children. The thing that has changed me tho - is that do you want your 5 children to think they can have whatever they want in life, when they want it? I know I don't (its just a shame it took me so long to realise it). I want my kids to appreciate everything in life they have and I don't want to think that they will be in terrible debt one day - god knows they are going to stuggle enough just to be able to buy a house at current prices.

You see my mum has always been terrible with money, and I inherrited the trait I am afraid... But now I am going to fight this whilst me and my kids are young enough to make a difference (well at 32 I am not that young, but you know what I mean).

Don't run yourself down, we have all made bad choices which is why we are here... one big happy family.

MrsTinks

I can SO recognise the traits from your husband in my OH His spending has been seriously curbed recently (by me) and he isn't too thrilled with it but he has more debt than I think is healthy (I'ms till struggling with finding out the exact extent of it grrrr) but I *think* we're talking £25k... plus the mortgage of course.
What realy bugs me is that if I can rein him in then between us we have a bloody good salary (£80k +) but he doesn't understand not replacing cars when they get boring (GAH!!!!!) and not buying new telly when this one is working fine and at the moment I'm trying to get into his head that a couple of thousand for a holiday this year is NOT a great plan... I'll conceed to a cheap holiday somewhere last minute because honestly we need a holiday! But if he thinks he'll get to pick somewhere expensive he has another think coming

I think I might have gotten through to him today... I pointed out that even with the mortgage payments then just imagine how much money we will have when we have paid off all our debts and can keep all that lovelly money each month... going away for a weekend when we feel like it would no longer be a problem

Lewby

Thanks Lucifer ... You are so right. There is no way I want our kids to end up in the same situation as us and the main reason for us wanting to sort ourselves out is so that we can help them through Uni (4 years away!) but be proud to say 'save for it don't buy it on credit'. I don't feel we can say that in our current position due to the mess we are in.

We do keep our heads above water but it will be so nice in 2010 to know that what we earn is ours and to be able to plan what we save for, not just keep looking at the credit card statements and the amount of interest we pay!!

The support on here is great as everyone is in the same boat (most to a lesser degree thankfully!).

I'll keep saving the 20p's and the £'s will look after themselves!