Odio's Odyssey

Odio_la_deuda

Where do I begin? I am 24 years old and my debt currently stands at £13,267.13. I feel as though I have absolutely nothing to show for it. I am however in a position to clear this debt in twelve months if can show enough desire and commitment. That is the problem though.

I became aware of just how bad my debt was back in August last year and if I had stuck to my plan back then I would almost be debt free. I was in the red to the tune of £14,781.96 and have only cleared £1,514.73.

I have a good salary with a company car but spend around £90 per week on cigarettes and booze. I ditched the bottle last Tuesday and will smoke my last fag tonight. I plan to start a fitness regime which should see me at the gym three or four times a week.

I have started a self study course in computer maintenance costing £50 for the materials. I will have to shell out around £250 on exams but this is a better option than the £1800 over two years that an arrogant HLC salesman tried to commit me to.

I work long hours and have no social life whatsoever hence the horrific drinking and smoking vice.

Is it possible that in twelve short months I will be debt free, fit and healthy, with better career opportunities and have a phonebook full of friends?

It seems a world away from my current situation. I have read these forums for months and I know that there are so many people in much more difficult circumstances than me I have so much admiration for their bravery.

I plan to post on here as often as I can as I find this site extremely motivating. They say “the journey of 1000 miles starts with a first step”.... I guess this is mine.

Thank you

Pamela1705

Hi Odio,

Just about to tuck in to some old-skool ice cream and jelly, so this will be brief! Didn't want to read and run though, so thought I'd say that you've picked the right thing to do. I've trimmed over £1,000 from my debt since I started in February and that's only just the beginning.

You can do this, just keep putting one foot in front of the other! Fill in your statement of affairs and post it here, so others on the board can have a nosey and see what you might be able to cut down on.

It is so hard and I really do wish you luck on your DFW journey!:T

Jennifer_Jane

Yep - have the long-term goal, but break it up into small steps - have a monthly budget; 3 monthly budget; 6 months and so on. This will encourage you to keep going. It sounds as if you will be fine, and that you know what you have to do.

It's only 12 months, it's amazing how fast it goes.

Good luck
Jen
x

Lemon_Tree

just saying hi
don't tear yourself up about what you haven't done since August, at least you've reduced your debt, just when was the last time you can say you went almost a year without adding to it let alone reducing it? see there's a silver lining everywhere if you just look at things from a different angle.
good luck and welcome to the boards

Odio_la_deuda

I haven't quite managed to stop smoking though I have cut down to just five. The crazy thing is, I start work around 6:45 and finish anywhere between 17:00 and 20:00 yet don't smoke!! It just goes to show that its all in the head.

Work is just to stressing at the moment and its hard not to buy cigs after work to calm down a bit so I plan to stop on Saturday making Sunday a fresh start.

Under no circumstances will I consume alcohol. I seem to be in a no tolerance to booze mindset and I just need to include the no smoking into this.

Off to digest some whyquitdotcom videos to help prepare for my quit.

jacey98

hi well done on posting and kicking the demons, on the smoking front have you read allen carrs easy way to stop smoking i am half way through it and although he says to keep smoking until the end its def becoming less of a craving i also know 3 people who have read it and not smoked now for several years.

jc x

Pamela1705

My dad just kicked the habit as well after 35 years of smoking. It's given him a new lease of life. Self belief will not work alone, but it will certainly help!

Odio_la_deuda

At this point on a Friday, I would be half way through a twelve pack of beers and would no doubt be on my 15 cig. Tomorrow I would have woken up with a banging headache ready to start all over again. I wouldn't describe myself as an alcoholic perhaps I epitomise the term 'binge drinker'.

Tonight however I am feeling fresh after taking a shower and relaxing in front of my laptop with a cold can of...... Irn Bru. The weekend usually passes me by in a blur but I now feel as though I have so much time to do things that I have been meaning to do for ages.

One of those things was to type up a schedule of when my debts should be paid of so here goes:

Aqua - £937.45 - July
Halifax - £867.07 - Sept (0% Balance Transfer to Barclaycard)
Barclaycard - £3913.72+£867.07 - Mar 10
HBos OD - £1300 - April 10
Dell - £792.54 - June 10
Loan - £5680.26 - Aug 10

So about 14 months if I am really, really disciplined.

In this time I hope to completely change my mindset and physique too. I am currently 15 stone though I am 6' 3" so I seem to hide it well. I really want to get down to 13 stone and tone up.

I also want to adopt a calmer approach to life's stresses and just let go of the things that currently get to me that really aren't that important.

I know I am rambling a bit now but typing this seems to reinforce my desire.

Thanks

Lemon_Tree

well done for being on the iron bru, think of it this way you have two extra days every week to enjoy if you don't spend a weekend hung over or drunk.
Are you clearing your debts in interest %age order?

Odio_la_deuda

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 1570
Total monthly income.................... 1570

Monthly Expense Details
Secured/HP loan repayments.............. 231
Rent.................................... 300
Telephone (land line)................... 10.5
TV Licence.............................. 12
Satellite/Cable TV...................... 21
Groceries etc. ......................... 50
Clothing................................ 20
Presents (birthday, christmas etc)...... 10
Haircuts................................ 10
Entertainment........................... 80
Total monthly expenses.................. 744.5

Secured & HP Debts
Description....................Debt......Monthly...APR
Hire Purchase (HP) debt ...... 792......(21).......0<
Loan...........................5680.....(210)......0
Total secured & HP debts...... 6472......-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Barclaycard....................3913......90........14.9
Halifax........................865.......10........13.9
Overdraft......................1300......20........18.9
Aqua...........................937.45....35........33.9
Total unsecured debts..........7015.45...155.......-

Monthly Budget Summary
Total monthly income.................... 1,570
Expenses (including HP & secured debts). 744.5
Available for debt repayments........... 825.5
Monthly UNsecured debt repayments....... 155
Amount left after debt repayments....... 670.5
Personal Balance Sheet Summary
Total HP & Secured debt................. -6,472
Total Unsecured debt.................... -7,015.45
Net Assets.............................. -12,695.45

Odio_la_deuda

Hi Lemon Tree

I am paying them off in %age order with the exeption of the overdraft as by bringing the Barclaycard balance down, I can balance transfer the Halifax to it in September and make a slightly bigger saving.