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am i addicted????
Comments
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lynzpower wrote:Are you addicted to the spending or to the debt?
I was definately addicted to the spending.
Not any more though, although I am addicted to being a DFW, I was so excited last night I didnt get to sleep till gone 2!The forest would be very silent if no birds sang except for the birds that sang the best0 -
Hi again,
I really hope that you have thought this through. £177k is a lot of money.
I hope you have done all your sums right to see if you can Actually afford the new mortgage? Have you taken it over another 25 years?
Your mortgage repayments are the WHOLE of your hubbys wages. I hope he never gets laid off, or is unable to work for any period of time.
You will have to be extra vigilant now with all your spending, do as calley says above, there are some great advice on these boards, make sure that you read them and take note.
You will have to make sure that once all your debt is paid off, you never ever get anything on tick again, No cc, no catalogues, no storecards etc..... as just 1 could lead you in a downward spiral again.
It will take loads of self discipline, but it can be done. You may have to go without the latest fashion, accessories, baby goods etc....
Hope you can do it!
Good Luck
pot
x0 -
calleyw wrote:A few things jump right out me to start with:
£16 a month on the lottery. Sorry but that has to stop now. You have more chance of being struck by lighting or a bus then you have of winning the lottery.
£50 a month on mobiles :eek: Even if you on a contract ring them up tell them you are having some money worries and you need to cut back. Ask for both of you to be put on the lowest tariff possible.
£24.99 for broadband. I pay £14.99 a month for 1mb line with two people using at the same time. And it more than fast enough.
AOL Phone £10 if you using a BT line that use one of the providers that are cheaper. We use 1866 and we pay 3p connection and a 1p a min. But if you are BT then you would pay 3p connection only. Our last bill for 3 months of calls was £6. And we are not heavy users and call Australia every few months and the odd mobile number as well.
Car £215 what is that insurance, fuel, tax etc.
Gas and electric seem high if you are both out to work all day.
As you already know the £50 a week on milk takeaways etc has to stop and now. By moving house you are going to be getting further in to debt if you don't get your act together. I am not going to say don't move as it is a little late for that. And you might be able to shave about £50 a month off your montly food shopping as well. Go over to the oldstyle board tons of ideas.
Think if you stopped spending that £200 a month on stuff that would help to snowball your debt and even your mortgage.
I said before you are having a light bulb moment but it seems to be a very low wattage rather than a 100 watt one.
Also getting organised helps save money. On the Oldstyle board there are people who feed two adults and two kids for a £100 a month. I know I am rather shocked as I normally spend a £100 for just two adults. They can do this because they plan in advance what they are going to cook and so only buy what they are going to use.
Don't forget getting debt free is like loosing weight it takes time.
All the best.
Yours
Calley
my broadband payment is this high as we are wireless and apparently it cant be used on the lower tarriff. i will also look into the phone buisness thanks-feel a bit sick re move now do you really think its a bad idea??if i can just clear these debts i want to start my mortgage pig and bring that down maybe ive just been kidding myself but i really thought it would be ok if i just got a bit more money sense instead of waste-sorry for rambling what do you think is a sensible food/household goods budget for two adults and a one year old??Stepchange dmp £6350
Debt free date jul 2021
Emergency fund needs refuelling!
Aiming for a debt free stress free life with some money in the bank!0 -
second_chance wrote:i think your right - i got caught up in a competition where i used to work it was who had the best clothes,newest perfume,best car the bigger house etc etc i just dont want my daughter to pay for what i have done but i do try not to spoil her (so i say as i fall oer her mountain of toys!!) why is life so bloody hard x
Hi
Sorry to be blunt but are you sure you're not succumbing to this again with the new house? £177,000 is a MASSIVE mortgage on your household income especially if you are planning another child - what about maternity leave etc?0 -
the mortgage i have taken is on a fixed rate - the mortgage we have remaining from this house is staying over 16 years and the top up over 25 years-i feel really ill now i thought i could afford itStepchange dmp £6350
Debt free date jul 2021
Emergency fund needs refuelling!
Aiming for a debt free stress free life with some money in the bank!0 -
tesuhoha wrote:Why were you excited Lynz?
Just through almost being DF..!!:beer: Well aint funny how its the little things in life that mean the most? Not where you live, the car you drive or the price tag on your clothes.
Theres no dollar sign on piece of mind
This Ive come to know...
So if you agree have a drink with me, raise your glasses for a toast :beer:0 -
second_chance wrote:the mortgage i have taken is on a fixed rate - the mortgage we have remaining from this house is staying over 16 years and the top up over 25 years-i feel really ill now i thought i could afford it
Sorry, I don't mean to upset you it's just, like pot o gold, I was shocked by what you're going to be paying it seems such a lot a month. Will you still have some equity in your new house?0 -
in*the*red wrote:Sorry, I don't mean to upset you it's just, like pot o gold, I was shocked by what you're going to be paying it seems such a lot a month. Will you still have some equity in your new house?Stepchange dmp £6350
Debt free date jul 2021
Emergency fund needs refuelling!
Aiming for a debt free stress free life with some money in the bank!0 -
second_chance wrote:thanks very much for your input!!! the £215 is actually a 0% payment for my car which i have until 2009!!i will stop lottery and will contact o2- already planning to go payg once the damn contract is finished.
my broadband payment is this high as we are wireless and apparently it cant be used on the lower tarriff. i will also look into the phone buisness thanks-feel a bit sick re move now do you really think its a bad idea??if i can just clear these debts i want to start my mortgage pig and bring that down maybe ive just been kidding myself but i really thought it would be ok if i just got a bit more money sense instead of waste-sorry for rambling what do you think is a sensible food/household goods budget for two adults and a one year old??
I do think moving is a bad idea as you need all the money you can to clear your debts and you mortgage is more than doubling per month.
How close are you to moving have you exchanged contracts yet?
I would say start with a target of a £180 and then move it downwards as you feel happy with doing.
As well as cutting back I really think you need to look at increasing income. Extra shifts or your husband getting a second job even if it was stacking shelves in a supermarket.
I have never heard that before about being on a higher data rate on broadband to get wireless to work. I know a fair bit about computers. But don't think that sounds right to me. Try asking on the Techie board and they should be able to tell if that is right or not.
Yours
CalleyHope for everything and expect nothing!!!
Good enough is almost always good enough -Prof Barry Schwartz
If it scares you, it might be a good thing to try -Seth Godin0 -
second_chance wrote:you havent upset me its not your fault im stupid-the new house should have £15-20,000 equity it doesnt need any major works just decor , i just wanted to get to a position where my mortgage was my only debt - i am a childrens nurse so my job pretty secure (i hope!-its a private hospice not nhs) and with the new mortgage we are paying an insurance that will cover mortgage if we become sick or have an accident:eek:
You are NOT stupid. We all do things that seem right at the moment we do then. Then we go on regret what we have done.
Check the small print on the insurance cover for sickness and accident. You might want to think about loss of earnings one as well. Because putting my brutal hat on if you one of you looses your job you are well up the swanny. And could loose your house.
Right I have to pop out but will pop back later to see how things are going.
Take care.
Yours
CalleyHope for everything and expect nothing!!!
Good enough is almost always good enough -Prof Barry Schwartz
If it scares you, it might be a good thing to try -Seth Godin0
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