Lazy & in Debt - motivation needed!

lazy&indebt

Hello!

I have been receiving the MSE email for a while now and usually take a lot of advice from it but I really lack motivation and that is why I thought I'd come and post on here.

My total debt is around £6k plus I have a car on HP with about £7.5k left to pay (wish I'd never gotten the thing!) my problem is I know how to save the cash - it's just doing it! I live about 1 mile away from work and can't motivate myself to walk it rather than drive it. I can never be bothered to make myself a lunch for work so I ending up buying one because it's easier. I think of something I want and I tend to just go and buy it there and then whilst thinking to myself 'you're only young once' and then regretting it later! (one of the reasons I owe money on cards I suppose) and I just cannot physically save any money at all! it's like I have to 'treat' myself with every spare penny I have!

I thought maybe I could get some motivation from you lot because you seem like a really nice bunch whenever I do come and read the posts!

Thanks Lots


EDIT: WOW! I POSTED THIS BACK IN APRIL, JUST GOT BORED AND THOUGHT I'D LOOK AT MY FIRST POSTS AND BOY WAS I NAIVE! I'VE GONE FROM BLOWING £495 IN 'SPARE' CASH TO SAVING THE SAME AMOUNT EVERY MONTH!THIS SITE ROCKS, HAVE ANY OF YOU LOOKED BACK AT YOUR FIRSTS POSTS RECENTLY?

Chell

Sending you a virtual kick up the bum! Welcome to MSE, hope you become inspired.

lynzpower

Ah the ever decreasing circle of lacking motivation and spending- been there.

The fact of the matter is . Do you want to get out of debt or not?

If yes, you might as well cut it right back and get it over and done with as quickly and effectively as possible. Otherwise you will be in the mess you are in for a hell of a lot longer.

It isnt rocket science, but it took me 5 years to twig on!

lazy&indebt

cheers shell! Hopefully that worked

lazy&indebt

I know! I feel bad cause I'm not really struggling but if I'd curbed my spending a long time ago, I could be debt free by now!

dinkylou

I do know how you feel as for a long time on here I was pretty much the same for you. You've not quite had your lightbulb moment yet.

I tell you what did it for me and it may help for you. Use the snowball calculator, put in all your debts and the APR's. Its scary.

This will show you how much you are wasting on interest and what you could be using that extra for if you were debt free. (and your debt free date)

I also find that keeping an excel spreadsheet updated daily helps me to stay (mainly) motivated.

https://www.whatsthecost.com/snowball.aspx

CLAPTON

only you can decide whether you are serious or not but if you are serious post a SoA. if not, come back when you're ready.

ps. your 'total debt' isnt £6k ..its £13.5k ..just a way of looking at it

lazy&indebt

oooh I've got an excel spreadsheet at the mo so I always know how much cash I have free but I wondered if that was my problem. You see my fella owes nobody anything and has about £3k saved up because he never knows how much spare cash he has got, he never spends much!

I'm going to try that calculator thingy...

lazy&indebt

Thanks clapton!! I don't include the HP cause it's depressing but I suppose it's better to cause £13.5k scares me!

Income: £1150pcm
Rent: £340 (includes all utilities)
Car: £155
Card:£40 (minimum 0% apr until may)
Phone:£40
Loan: £80

This leaves me with £495 per month and I have no idea where it goes. I'm not a heavy drinker and don't go out that much, I don't spend a huge amount on food and I have quit smoking!
petrol: £60

CLAPTON

sorry to harp on but you have no spare cash, you owe 13,500

lazy&indebt

Spare cash to me is how much I have left after all my minimum payments. I understand I can throw all my 'spare cash' at my credit cards but then what? I can only pay a certain amount of my loan and a certain amount off of my car. They dress up getting a car on HP cause they don't class it as a debt - I am buying the car of peugeot bit by bit so I don't actually own it.

Does anyone know whether it's possible to end a hire purchase agreement? i.e. give the car back?