Another Newbie takin the first small step!!

swisstony127

Hi there, Firstly I feel such a fraud, basically i'm a spendaholic!!!!
Most of my debt has come from seeing things and wanting them now!
I know i have to change which is why i am at this point.
I'm pretty sure some of u'll will be thinking that this is all my own fault but I would like to try and explain a little. I think this is a genuine problem i have, the emotions i go through when buying some of these things is beyond words.
Sometimes the second i've made the purchase whether it be on line or in a shop i regret it and think why did i just buy that? I won't use it or i don't want it! It is like some strange force takes over for a split second.
I have watched programmes like BBC3's Spendaholics and watched them analyse people and come up with reason why they may be prone to over spending and i originally thought what a load of rubbish.
If i was to look at myself i would say it probably stems from being over weight as a kid growing up, so the only way to be part of the group was to have the best trainers and clothes and walkman's etc and really it's just carried on from there I'm 28 now still living with my parents! still not happy with my weight and I still get an overpowering sence of pleasure from spending. I have lost some weight, in 2003 I must have reached 18 stone ( i stopped weighing at 17st 10lbs), but i decided to seek help from a dietician and i now weigh 14st, i've still probably got around a stone and a half to go before i will feel right but at least it's going in the right direction.
And so thats what i hope to get from posting on here just the tips and advice to point me in the right direction, I know that the dietician didn't do anything, I did all the hard work but it just gave me the wake up call i needed. So please don't be to harsh on me!!!:o

Income:-

wages after tax £840




Outgoings:-

Housekeeping Per month £100
Mobile phone Per month £80
Food Per month £80
Lunch at work Per month £80
Travel to work Per month £75
Sky tv Per month £52(cancelled 1payment to pay)
With Profits Assurance Plan Per month £50 (18mths till matures)

Virgin Money Credit Card Min Per month £52
Lloyds Tsb Credit Card Min Per month £58
Sky Card Credit Card Min Per month £40
Cahoots Personal loan Per Month £167


Total Outgoings......... £834



Virgin Money Interest 24.9% Total Balance £3539.43
Lloyds Tsb Interest ? Total Balance £2766.37
Sky Card Interest ? Total Balance £1621.88
Cahoot Interest 6.7% Total Balance £7033

Total Debt £14960.68




Whilst i about break even obviously this doesn't include any nights out or weddings, birthdays etc that is irregular or unexpected spending.
The problem i really have is that i can only just afford to pay the minimum payments on my credit card's each month so i'm just "treading water" rather than making any serious attempt to clearing this debt.

Sorry for the mega essay, hope i've not left anything out!!

bluezone

Hi there,

No worries about the long essay - we all do it on here! There will be others along to help you out more but I thought I would get my tuppence worth in now!:)
Your mobile phone seems high - try changing the tarrif or go PAYG
Lunch at work - cancel this and take a pack up for say 4 days of the week and treat yourself on a friday?
I could not work out - have you cancelled your sky? If so this is good as this allows you to throw £52 towards your cards each month.

I hope this helps a little bit

lynzpower

HI there
Welcome!

Dont think anyones going to be hard on you, well done for finding us, and its really being here now that counts!

Few suggestions

How is your credit rating? You can find out from experiean? You might want to think about getting 0% credit cards, or bargaining down with the cos you have rto do a 0% for you. At least what you will be paying off will dent the balance. Find out what the interest rates are on the other two cards too, asap.

Id also say if you have a bit of a spending problem, you are likely to have plenty of salaeable stuff? Get it on ebay or do a bootsale or something to bring extra cash in and give the money staright to your highest interest credit card.

You are taking lunch to work, which is silly under these circumstances, do take lunch in from home you'll save a bomb, and have lots of healthy food too. Does your board not incude food then? As you seem to be paying seperate? Or is this meals out etc?
All the best with this xx