Impatient to get rid of the debt!

MLbiggestfan

Have to say am soooo impatient to be rid of my debt!

Got my very first credit card in March 2003. Felt like I had made it because they accepted me(dur!!) because I had always been turned down for credit before that. Am now in debt to the tune of £12,900! (Thats 6 credit card and 5 different mail order catalogues)

Dont know if i am alone in this but just didnt really understand how credit cards worked, (interest rates on cash advances compared to purchases, etc) just saw the credit limit and went to town. Literally! Absolutely hate myself now for being so stupid and am always preaching to others now of the dangers of the bloody plastic things! (Read somewhere once that credit cards ought to be advertised as DEBT cards to put folk off having em.)

Anyway, had a lightbulb moment before Christmas when I realised I had to leave a part-time job I really loved and get higher paid work in order to pay everything off. Just about broke my heart but it was the only way.

After reading some of the comments on here made me see I was not alone and checked out the whatsthecost/ snowball site (can't remember the actual website just followed a link on one of the forums). Best thing I ever, ever did!! I now have a debt free dat of Jan 2008. Just wish I could make the weeks go by more quickly until i get there. Wishing two years of my life away!!
:beer:

Queenie

MLbiggestfan wrote:

... Absolutely hate myself now for being so stupid ...

((hugs)) You're being way too hard on yourself! ((hugs))

You are now "wiser", stronger and empowered! You should be very proud of yourself for that because it's a HUGE attitude shift!! :T :T (Remember, there are many, many souls who may never reach their lightbulb moment).

The debt doesn't define you: it's how far you climb forward and upwards from now on which will

Alleycat

I'm the same!! Can't wait to be debt free. Even though it won't be completely gone, we are moving to London once the Mint card and Nationwide loan are cleared. The other two will be cleared once we are down there as we will be living with my parents for roughly 9 months. During that time there will be minimal outgoings, my OH will be a SAHD for a while whilst I work full time earning as much as possible.

Its been a bit of a rollercoaster this past year or so. Our first dd was born in January and we only really decided to move to London in July or so. Since then it has become a bit of an obsession for me to clear our debt to make this a reality. I was recently diagnosed with PND after suffering for the past year and have been going to see a counsellor for the past two weeks. I think part of my problems are this debt we are in and my feelings towards it. Before we really cracked down (round about October last year) I was incredibly depressed as it just didn't seem to be going anywhere and our plans to move were although very much wanted, moving farther and farther away. Since then I have been quite manic at times in trying to cut back. I have been almost obsessional with our budget plan, meal planner etc. Some days are fine and I am happy with how we are doing and we have some good news i.e. OH's compenation payout, then something happens like I am too tired (have insomnia quite badly) and am completely lacking in motivation (due to the PND) and so don't get to the supermarket so end up having takeaway, overspend on something else and so screw up the budget. This last month has been particularly bad for overspending hence my telling OH he has to quit smoking. I feel sick to the stomach quite a lot and have panic attacks over our spending, the budget, when we will be debt free. I know I should try and loosen up, which I am working on at the moment with my counsellor. He feels that the debt problems, lack of family and social support with a toddler are the main culprits in my PND.

You just need to take each day at a time and if you end up having a splurge, don't fret too much. It happens, we are all only human after all. Just get back on the wagon and remember that even if you overspent on one thing, you are still spending a hell of a lot less than you were.

sparkle_monkey

Chrismojam, I'm the same as you - in that I plan to be free of all cc and overdraft debt by August (altho I will still have a bit of a stupid graduate 'consolidation my !!!!!!' loan & my student loans). Now I'm just spending money on food but really looking for other ways to cut back/earn more money! Had the shock of my life when my mum told me I still owe her 250 quid from a loan she gave me over 6 years ago! I feel really guilty and wonder why she didn't say anything before (she said she forgot!) Anyway, she says I shouldn't pay it because she hasn't given me money or anything in years. What does anyone think? Was goin to send a present or something instead - she said to buy her a drink at the pub!

skintchick

I'm impatient too!

My problem is that i have almost enough in my savings to pay off my debt (about £500 short) BUT the loan is 0% so it makes no sense to pay it off early, even though I'd love to be debt-free!

Such a conundrum.

ms_london

I know exactly what you mean. I think this is what's known as "the slog" - when your debts are under control but you are just waiting for your DFD!!!

Although I am saving now & no longer debt free, I am impatient when it comes to my savings, as I want to have as much saved as soon as possible!!

If your circumstances change, your DFD can be bought forward - you never know whats around the corner!!

Well done & keep up the good work.

dinkylou

Yep, am impatient too.

I have a spreadsheet which shows what I am spending each month, where and all the debts, payments and projected DFD.

I have cut things down alot and am no longer overspending each month but the lightbulb is now on full wattage and I want to start reducing my debts and not just leaving them at minimum repayments.

I'm lucky in that most of my debts are at very low or 0% but this is not good enough. I want rid of them.

And so I look at the spreadsheet alot and try to think of new ways to lower the debt without changing my life too much.

Coming on here helps alot though and helps to keep the motivation going.

Chrismojam

for not getting back to you sooner!!!!!

I am a tad old fashioned and a bit of a techniphobe!! I didn't realise anyone had replied to my mail!!LOL! Was feeling a bit left out!!DOPE!

Am a bit concerned that I may be in charge (or rather assistant in charge) of systems in work in the next 6 months to one year.....how scary is that!! .....oh dear!