I was naive...

mum2one

Youve done the first most important step, admitting their is a problem

Didnt want to run away,

Quick couple of points

For a week, keep a spending diary, even if its 20p for a pack of tissues

I wouldn't apply for another credit card, not being personal but with the problems you've got it might tempt the spending.

If you go via the top tabs (or someone more knowledgeable comes along), u need to look for the link makesenseofcards -it breaks down everything.

You may need to look at contacting all the creditors encloseing your soa (statement of affairs), and payment plan,as if you at least try and meet them half way- there usually flexible.

Also you the ones that are phoning if its becoming a nuisance theres a letter that u can use, basically says you will only communicate by letter.

Will pop back, gd luck xx

advent1122

Is this thread a wind-up?
This is part of the outgoings...

Smoking: £160 pm
Learning to drive: £220
Mobile contract: £40
Old mobile contract: £100

and the Op is asking for tips on how to get out off debt.
Errr. Stop smoking, cancel the driving lessons and get a cheap PAYG phone.
Right, thats another satisfied customer.

Next.

gizmo111

advent1122 wrote: »

Is this thread a wind-up?
This is part of the outgoings...

Smoking: £160 pm
Learning to drive: £220
Mobile contract: £40
Old mobile contract: £100

and the Op is asking for tips on how to get out off debt.
Errr. Stop smoking, cancel the driving lessons and get a cheap PAYG phone.
Right, thats another satisfied customer.

Next.

Don't think it is a wind up - seems like normal teenage spending to me - seems to be what happens when they have a lotof money all of a sudden and the chance of credit without realising the consequences until it is too late. I am desperatley trying ot educate my 16 year old daughter on money as she ahs just increased her income from £10 a week pocket money to £102 with a part time job before she gets additional ema in september. I reckon she can easily save £50 a week - she thinks not!

talana

advent1122 wrote: »

This is part of the outgoings...

Smoking: £160 pm
Learning to drive: £220
Mobile contract: £40
Old mobile contract: £100

and the Op is asking for tips on how to get out off debt.
Errr. Stop smoking, cancel the driving lessons and get a cheap PAYG phone.
Right, thats another satisfied customer.

Next.

Blunt, but I have to agree!
OP, you can't afford the driving lessons right now much as you'd like to.
You say yourself you have 2 lenders hassling you for £300 each a month and the other is beyond even that. You need to take action now, not a month or two down the line.

mum2one

gizmo111 wrote: »

Don't think it is a wind up - seems like normal teenage spending to me - seems to be what happens when they have a lotof money all of a sudden and the chance of credit without realising the consequences until it is too late. I am desperatley trying ot educate my 16 year old daughter on money as she ahs just increased her income from £10 a week pocket money to £102 with a part time job before she gets additional ema in september. I reckon she can easily save £50 a week - she thinks not!

I'm showing my age now, but when I left school I did a yr at college worked pt £1.50 ph.
My friend did a YTS, and the 1st yr was £27.00 pw and she saved £10.00 of that, pd her mum £7.00 keep and had £10 for herself........

Your daughter could easily save £50 pm, without being cheeky, is there something she wants, my dds 6nearly 7,going on 18!! , and since she was 3 (I swam with dolphins), she pointed to the photo and said me go, since then all she wants to do is swim with the dolphins, so every time she has a 50p she puts it up, we all do, but coz its something she wants shes willing to help out and save, the principle might work with ur daughter (long shot) x

gizmo111

mum2one wrote: »

I'm showing my age now, but when I left school I did a yr at college worked pt £1.50 ph.
My friend did a YTS, and the 1st yr was £27.00 pw and she saved £10.00 of that, pd her mum £7.00 keep and had £10 for herself........

Your daughter could easily save £50 pm, without being cheeky, is there something she wants, my dds 6nearly 7,going on 18!! , and since she was 3 (I swam with dolphins), she pointed to the photo and said me go, since then all she wants to do is swim with the dolphins, so every time she has a 50p she puts it up, we all do, but coz its something she wants shes willing to help out and save, the principle might work with ur daughter (long shot) x

Nothing shewants really - a blackberry (god knows why), new clothes. I think that once the initial newness of having a load of money will wear off when she starts at college if not before, up until now she got £10 a week paid into her bank by SO from me , and her balance yesterday was £17 so she's not spending what she had when she had nothing (if you get what I mean) - I intend to keep an eye on her anyhow as I think this is a really important financial learning curve for her, and dealt with and managed properly will see her through Uni with minimal debt at the end.

mum2one

gizmo111 wrote: »

Nothing shewants really - a blackberry (god knows why), new clothes. I think that once the initial newness of having a load of money will wear off when she starts at college if not before, up until now she got £10 a week paid into her bank by SO from me , and her balance yesterday was £17 so she's not spending what she had when she had nothing (if you get what I mean) - I intend to keep an eye on her anyhow as I think this is a really important financial learning curve for her, and dealt with and managed properly will see her through Uni with minimal debt at the end.

not being cheeky, is the download that Martin does for teenagers any good, may sound better coming from an indepent party. x

gordikin

I think you will find that your car insurance costs will rise after you pass your test as you will be a young unsupervised driver. Also if you become the main driver of the car and are listed only as a named driver you will be committing fraud and the insurance will be invalid.

RobertoMoir

gizmo111 wrote: »

Nothing shewants really - a blackberry (god knows why), new clothes. I think that once the initial newness of having a load of money will wear off when she starts at college if not before, up until now she got £10 a week paid into her bank by SO from me , and her balance yesterday was £17 so she's not spending what she had when she had nothing (if you get what I mean) - I intend to keep an eye on her anyhow as I think this is a really important financial learning curve for her, and dealt with and managed properly will see her through Uni with minimal debt at the end.

In a way this is something that should be addressed properly by education or at least more resources available to help parents educate their kids - financial management isn't taught very well and it's all to easy to fall into a trap of spending now and worrying about how to pay it back later.