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Spongebob_Nopants
Posts: 27 Forumite
Blimey - what on earth am I doing here....?!
They say the first part of dealing with a problem is to acknowledge that you actually HAVE a problem - right?! Well, in that case, this is that moment for me.....
... my debts are huge, my income miniscule, and I'm about to hit that point where cash machine says "no"..... but I AM going to deal with it....
First step seems to be quantifying the debt that's currently there, working out income and expenditure budget and trying to make the two at least match..... that's where I'll start....
They say the first part of dealing with a problem is to acknowledge that you actually HAVE a problem - right?! Well, in that case, this is that moment for me.....
... my debts are huge, my income miniscule, and I'm about to hit that point where cash machine says "no"..... but I AM going to deal with it....
First step seems to be quantifying the debt that's currently there, working out income and expenditure budget and trying to make the two at least match..... that's where I'll start....
_pale_ Facing up to debts for first time. Two adorable kids to keep secure. LBM:25/08/09 Debt>£50K
Progress so far: (1) new job :j ; (2) living within my means for first time EVER 
; (3) debt not rising, reducing (slowly)
; (3) debt not rising, reducing (slowly)
Currently working on: (1) Nat West credit card first; (2) planning for credit-free Xmas.
Humble, grateful, resilient.
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Hello and welcome to the madhouse!
The first steps are usually pretty hard, but once you have written it all down, you can face it - and once you can face it, you can start dealing with it.
Take time to mooch around these boards, there is a wealth of information and support here!Successful women can still have their feet on the ground. They just wear better shoes. (Maud Van de Venne)Life begins at the end of your comfort zone (Neale Donald Walsch)0 -
Thanks - yes, I can see there's tons of useful info here... gotta get to grips with those numbers as soon as poss....!_pale_ Facing up to debts for first time. Two adorable kids to keep secure. LBM:25/08/09 Debt>£50KProgress so far: (1) new job :j ; (2) living within my means for first time EVER; (3) debt not rising, reducing (slowly)
Currently working on: (1) Nat West credit card first; (2) planning for credit-free Xmas.Humble, grateful, resilient.
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Absolutely! It is scary but strangely liberating at the same time -the moment you take back control
Successful women can still have their feet on the ground. They just wear better shoes. (Maud Van de Venne)Life begins at the end of your comfort zone (Neale Donald Walsch)0 -
yes, I like control !! :rotfl:_pale_ Facing up to debts for first time. Two adorable kids to keep secure. LBM:25/08/09 Debt>£50KProgress so far: (1) new job :j ; (2) living within my means for first time EVER; (3) debt not rising, reducing (slowly)
Currently working on: (1) Nat West credit card first; (2) planning for credit-free Xmas.Humble, grateful, resilient.
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Hi spongebob welcome to the boards i look forward to reading your diary, lots of good advice on here so im sure you will be fine xI AM A MONEY MAGNET, THEY ARE MAKING MORE MONEY FOR ME AS WE SPEAK:pMIKES MOB, DFW NERD 1071, DFW LHS 132!MIRACLES HAPPEN I'VE SEEN IT WITH MY OWN EYES. LBM 08£77240.69 Current outstanding total £36083.01 Paid so far = £41157.680
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Welcome! Just to echo the above advice really. You can do this!Starting Debt: ~£20,000 01/01/2009. DFD: 20/11/2009 :j
Do something amazing. GIVE BLOOD.0 -
Spongebob_Nopants wrote: »yes, I like control !! :rotfl:
that seems to be a current thread running through the board :rotfl::rotfl: good luck with your plans0 -
I'm assuming there will be at least 999 tasks (probably many more) - hence the two leading zeros....!
So, task 1, er I mean 001 - getting a realistic expenditure budget together. I'm going to use Martin's spreadsheet tool (which I'm struggling to download but will get there....)
My wife and I are separated but still living (more or less) together (she in the annex, me in the house) as we have young kids (plus selling the house would spell financial game over at the moment) - so, here I go, I am commiting myself to producing this budget together with my wife :eek:, as our finances are intertwined still - it's going to be hard, but it needs to be done.....
PS thanks for your messages of support - believe me, they mean a LOT to me._pale_ Facing up to debts for first time. Two adorable kids to keep secure. LBM:25/08/09 Debt>£50KProgress so far: (1) new job :j ; (2) living within my means for first time EVER; (3) debt not rising, reducing (slowly)
Currently working on: (1) Nat West credit card first; (2) planning for credit-free Xmas.Humble, grateful, resilient.
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Welcome and good luck £225 by the 15.09.09 £3/£225
CCCS DMP 01.10.2009DFD 2023 :eek: But will be less !!!0 -
sponge bob just give yourself a round of applause for having your lbm, yes its scary but once you get the numbers up new eyes can help make changes so dont worry we all have debt i dont like to say my numbers but i know its a hell of a lot for a 25 year old I AM A MONEY MAGNET, THEY ARE MAKING MORE MONEY FOR ME AS WE SPEAK:pMIKES MOB, DFW NERD 1071, DFW LHS 132!MIRACLES HAPPEN I'VE SEEN IT WITH MY OWN EYES. LBM 08£77240.69 Current outstanding total £36083.01 Paid so far = £41157.680
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