Worried Sick

In_my_dreams

Hi SN - I was brave enough to post my SOA last night, scary stuff isn't it?

Once you've figured out the true figure, have you had a look at whatsthecost.com and put all your debts into there, amazing the difference a few pounds can make towards a debt.

I too have horrendous debts but have felt so so much better after posting here and getting it all out in the open so to speak.

Good luck and look forward to reading your posts.

Spongebob_Nopants

Hi IMD - thanks! Will check out "whatsthecost.com" as you suggest. Good luck to you too! If I can work out how I find your post (or if you can explain!) I'll follow your fortunes too!

In_my_dreams

Hello...if you click on my name I think there's an option to look at posts by me? Hmmmm, as for following my fortunes, there's a long way to go before I find them under the deep pit of debt!

Spongebob_Nopants

IMD - done it - thanks. BTW, the word "fortunes" was a deliberate choice! You'll get there before 2015 if you carry on like you're going - well done so far!

Happytogetdebtfree

Hi sponge hope things are going good in the land of debt busting keep up the good work x

Spongebob_Nopants

Blimey!! That was tough..... just looking back to my LBM date and my first 2 tasks..... task 1 was pretty simple, then there was the dreaded "task 2 - new job"....

Well, my complete inactivity on here may have suggested that I had given up... but au contraire, I've been spending all the hours god sends looking for a new job.... I started this search on 27th August 2008, and today I've finally landed one!!

This is going to pretty much DOUBLE my income - the budget is still going to be tight, but at least I can now sensibly tackle my debts - and, as you all know, once you've had that one LBM, there's no going back - no more slow creep on credit card balances, no more burgeoning overdrafts....

So, I've decided to start by picking my pet hate - my (expensive) NatWest credit card - current balance £4,595.98 - I've already paid off £101.58 (on top of the usual minimum payment) this month....

... haven't yet got a target debt-free-date - something like debt-free (other than mortgage) by 40 sounds good (2 yrs away) but I'm not sure that's possible .... will get a better feel in the next month when I get my first new pay packet......

banwa

Great news Nopants, congratulations. I love reading success stories and I have a feeling this is going to be a good one, so will be following you with interest and cheering you along

Keep posting:)

Spongebob_Nopants

Just a quickie - have just logged into my Natwest card (the one I'm targeting at the moment) - have got down to £3799.94 !!

Yippee!!

There are plenty more to go, but I'm determined to get after them one at a time and consign them to the dustbin of history! Capital One is next (v high interest rate) but only after dear old Nat West....

satchmo1

Good luck with your df quest spongebob, and congratulations on the new job! Once you've posted a detailed soa you will get so many positive suggestions on ways to reduce your outgoings. Did you really mean £136 a month on cleaning? Sounds like a good place to start to reduce things? Satchmo

Lemon_Tree

hi spongebob, welcome to these boards, from what little you've told us so far there's plenty of space for cut backs, it's just getting it done... just to challenge you are you tackling your debts via the highest interest rate gets paid off first method?? it all helps in the end.
Also is if worth you having a bank account which you have to pay a monthly fee to? what do you get for that fee? and do you need what you get?
could you also think about moving DD's to later in the month so you hit the peak of your limit later each month? this would save you interest. I know when i did that (before i eventually cleared my overdraft last year - that feels good to say) by moving things backwards in the month i saved myself almost half my monthly interest each month. Every little helps.
Anyway, good luck and keep posting.