How the mind works!!

larzie30

Just thought I would share this rambling with you as I have had a bit of a lightbulb moment!

Been reading this forum and looking at the posts about the pre-pay credit cards, each time I have looked, I have thought "I won't be getting one of those, look how much it costs each time you use it". Interesting though that I have never had similar thoughts when using my capital one credit card with and APR of nearly 28%.

The more I have thought about it the more I have realised how skewed my thoughts on money and finance are. Although I haven't done it yet, I really do think BR will be an education not just in money management but also in personal values.

Anyone else had similar experiences?

L
xx

philnicandamy

Its not just an education....its a life changing decision..

curly09

....a life changing decision, that slaps you back down to earth before you can blink....

A very humbling experience.....and although I'm absolutely broke.....I'm happy....

antarctica

curly09 wrote: »

although I'm absolutely broke.....I'm happy....

That exactly how I feel.

:j

Broken_hearted

Same gere fancied a few bits so opened a Vanquis card not thinking about it for £500 have had it 3 months and paid nearly £60 in interest.A good lesson in avoiding credit.

Holes_in_my_pocket

I also think differently i always wanted the extra in life but now contented with what i got, i believe your income level is the level you have to live to. If you want more then increase your income level . Do this by a better paid job not easy, in my case should of listened more at school . Borrowing for that little extra actually decreases your level,, as income taking to pay for credit actually lowers your standard of living , I am not sure if i am explainig very well but i undestand what i mean lol

larzie30

Yes I understand what you mean. It will indeed be a change of life to live within my means and not beyond them. But in today's society it will be another achievment. So many people think that BR is the easy way out. I feel that it is a big life lesson which is hard earned. I also believe that quality of life will be so much better when all sorted. As for peoples view that it is dishonest, I feel that taking this approach is the legal way to get help.

L

x

curly09

The hardest thing about going BR for me, was/is peoples reaction, yes, they either think you are some kind of crook on the fiddle, or you're a lazy waste of space looking for an easy way out.

Yes I spent foolishly, no I didn't think about the long term consequences, my total debt was 30k, but until I was made redundant in March I was earning 45k a year.
If any of the 200 job applications I have made had been successful, I would be working, paying my bills and still be ignorant to my debts.

Again I thank this forum, a place of solace and understanding............

jakjo

I agree with the reaction Curly and I guess we all have different reasons for getting into debt.

When I went bankrupt my debts hadn't been paid (head= buried in sand) for 2 years. Before the BR I had learned to budget and live within my means BUT the debt still looming over me. I decided to go bankrupt last December and I must admit at the time it was because a creditor had caught up with me. There was a brief consideration to face it and to start negotiating managable amounts to pay to them but at 100K I thought it was time to face facts, take the plunge and recognise that although I did run up the debt and it was my "duty" to pay. I would be in my 70's before it was paid off. I chose life and I am very happy I did! The process has been a roller coaster of the unknown, I mean every court, every OR and every situation are so different. Anyway, I have been blessed with an ED and a removal of my IPA AND learned a very valueable lesson. All this a couple of weeks before my 40th - A brand new start!

Thanks to this forum for all your help.

curly09

ahhhh, there are happy endings.....................:D