What Caused Your Debt in the First Place

Bestthingsinlifearefree

tesuhoha wrote:

Well as i said this is the last year and then it will be up to him. He has a year of A levels in front of him so that will prove whether or not he is suited for study as he will have to do this at his old school or at a local college. At least we will feel that we did all we could and if he gets a job after this year we will not have any doubt that he could have gone to uni. Back later going out now

Hi Tesuhoha,

You have been a great parent you have given him the opportunity (twice over ie paying for retakes). You have done way beyond the call of duty.

You can do no more than that.

If uni is not for him you need to be supportive about that ie no one if a failure because they dont go to uni and get him excited about all the other opportunities and avenues out there.

My brother is incredibly intelligent but never went to uni and has been very successful in his area / career.

I went to UNi and have done ok to.

There is no right or wrong way.

As long as the kids get the OPPPORTUNITY to have a good education. If they take to it or not is down to mother nature. some kids take to sport some dont etc etc.

Uni is not the be all and end all and getting a degree is no guarantee of success or happiness.

Make it clear he has options.

oops_a_daisy

probably what caused my debt in the first place was laziness, ignorance and plain stupidity. I have turned that around now with MSE. I was permanently in overdraft and when I got paid it just covered the overdraft and bills so I never got out of it. I also mis used my credit card if I didnt have enough money so that kept getting run up and then I would take out a loan to pay it off and then run it up again :rolleyes:

The main stupid purchase was last year. I was due to get a new company car and decided that I wanted a personalised reg ( you may now all call me names ) so I put £800 on my credit card for the number plate STUPID STUPID STUPID - what was I thinking ???? anyway when I got the new car I found out that my company will not let me put a personalised plate on it so I now have a piece of paper that cost me £800 + interest you may all laugh smugly at me now :rotfl:

Squawk_2

Massive extension to house, two good incomes went down to one due to illness. Hid all finiancial stuff 'cos of her illness, (very, very stupid with 20/20 hindsight), the stress got to me and I was ill too. Downhill from the very moment the outgoings were more than the icomings, only couple of hundred at first then the compounding of interest took over and the Titanic finally hit the iceberg.

PIPPER_2

I too went to uni, no fees but worked 2 jobs in summer and got through. Did postgrad in teaching and took out small loan. Met hubby-2-be and we lived a fun and extravagant lifestyle b4 getting married. :j :beer: All was in hand just mortgage and cc debt.
Hubby set up business, remortgage and more debt but manageable on 2 wages. His company was wronged by a big name, :mad: no compo just the MD of other company sacked-like that was going to help us! :mad:
2 children in 18mths meant I stopped work and have only just gone back pt - bringing home a small but significant wage. Now we have debt of about 78k :eek: mainly oh cc, personal loans to try and get on track after company folded. we are in process of compiling an SOA. Have sorted out a 3yr deal for astronomical mortgage and I have managed to cut down on utilities and monitor our spending.
I feel a lot of stress with it all but know that I am approachng it correctly and doing what I can. After our soa is compiled I will need a lot of advice and support fro the fabulous posters that are you!
:wave: Until then..... :wave:

Sea78

oops_a_daisy wrote:

The main stupid purchase was last year. I was due to get a new company car and decided that I wanted a personalised reg ( you may now all call me names ) so I put £800 on my credit card for the number plate STUPID STUPID STUPID - what was I thinking ???? anyway when I got the new car I found out that my company will not let me put a personalised plate on it so I now have a piece of paper that cost me £800 + interest you may all laugh smugly at me now :rotfl:

Could you not sell it again? Or would you lose loads on it?

tesuhoha

iknow you are all right about this but according to my boy he really wants to go to uni hes just got an addictive personality and hes hopelessly addicted to computer games. i know we've gone over the top somewhat but as weve had it hard we wanted to smooth the way for the kids. yes i hope he does succeed whatever he does. i really appreciate all your comments and this year is really the end as far as school fees are concerned. University fees? Well thats another matter

oops_a_daisy

Sea78 wrote:

Could you not sell it again? Or would you lose loads on it?

thanks Sea78 - I have had it advertised for a few weeks now but no takers yet. The advertising is free though and the debt moved onto a 0% c/card so at least it isnt costing me any more.
I still cant believe I did it :rolleyes:

tee_pee_2

my debt was caused through my house. All of it has been 0% but it doesn't alte the fact it is debt. The house was a shed ( not literally) and it has cost loads to do. All was well and I bought a sports car with big loan ( interst freeagain) paid a bomb for it and .......got pregnant. Lots of money wasted. OH car was playing up and Vauxhall said it was Vectra thing so we sold and got another car. So in the space of 6mths 12K in debt.

However today it is £1700. and my house is perfect and we both have cars that work and are suitable for DD to ride in.

lynzpower

tesuhoha wrote:

iknow you are all right about this but according to my boy he really wants to go to uni hes just got an addictive personality and hes hopelessly addicted to computer games. i know we've gone over the top somewhat but as weve had it hard we wanted to smooth the way for the kids. yes i hope he does succeed whatever he does. i really appreciate all your comments and this year is really the end as far as school fees are concerned. University fees? Well thats another matter

Tesuhoha - has he considered a a job testing computer games would he.? Worth a suggestion!! a mate of mine does that near leeds and gets a very respectable salary of 25k to start on that :money: :money:

jellybabies_2

well my ex partner who i got engaged to spent 2 and a half years lying to me about money problems.first he told me he was 8 grand in debt.... then he admited it was 15 then a couple of months ago i found out despite tryin to "keep tabs" on his accounts,another 7 grand has appeared from somewhere. he will not do away with sky sports,booze,and god knows what else. i managed to stop him spending on cd's but only after countless lies catchouts and arguements.
and to top it all he finished with me because i didnt trust him!!!!!!!!!!
oh and he just got a £55.00 tattoo that he cant afford "cuz i wanted to !!!!!!!!!"
am i a prize prat or what?
stupid thing is.... i really really loved him...
doh