Somebody Help

purple2

Hi all,
What I really need is someone or all of you help me find a way to stop spending!!!!!!
I need somehow to find the will power to stop going to the pub and spending nearly all my money in a week! The trouble is I hate wear I am living at the moment and who I am living with drives me insane so I go to the pub to get out of the house.

I am 25 and in about £10k worth of debt:(
I am with a debt management company and pay them £142 per month.
My phone bill is usually about £80 per month (a month in arrears)
My rent is £150
I smoke about 20 fags a day at £4.50.
This is basicly all I pay out a month and I earn £910 so I could pay off more.

Please help me.

Rob_K

You'll need to post a full SOA so we can have a look at where you can cut back..

Check out this thread for some advice:

http://forums.moneysavingexpert.com/showthread.html?t=107280


And have a look at the budget planner to make sure you don't miss anything out!

http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1089226742,17582,


Good luck

jitsuguy

Hi purple2,

It might be a good idea for you to get a diary and everytime you spend some money even if its only 20p you write it in the diary so you can see where you are spending the money.

Jitsuguy

Tondella

if you want willpower then you've got to find something to motivate you into not spending money. e.g. I motivated my OH into paying off the debts by pointing out that he could afford to buy a landrover discovery (car of his dreams) and spend a fortune on outdoors kit each month if he didn't have these debts to service. For me, the realisation that we could have a European city break (in fact a NY city break) every month on the amount we pay off our debts is a pretty hot motivator.

What would you do with the money once you are debt free?

QueenB.

I second the SOA and debt diary ideas.

Sometimes the best way to stop yourself spending is to really look at the truth in cold black and white figures. Maybe you also need a goal to work towards instead of spending on the little things which don't mean much like smoking and the pub and instead look at what that money could be put towards that you will enjoy more.

Inspiration and motivation often help you curb your spending.

homersimpson_3

1. can you get out of this arrangement with debt management company and contact payplan, cccs or cab who may do the same work for you? if so the £142 can be targeted towards the debt.
2. phone bill is ridiculously high- if mobile why is it essential? if essential change to payg. shop around for cheaper deal on mobile or landline- read martin's articles.
3. give up smoking and you're not only help your health but save £135
4. if you hate where you're living why don't you just find somewhere else to live? even if you can't move for some reason why do you have to go to pub or do you just end up there? why not the park? visit friends or family? college? swimming pool (the list is endless)

breakdown2007

homersimpson wrote:

1. can you get out of this arrangement with debt management company and contact payplan, cccs or cab who may do the same work for you? if so the £142 can be targeted towards the debt.
2. phone bill is ridiculously high- if mobile why is it essential? if essential change to payg. shop around for cheaper deal on mobile or landline- read martin's articles.
3. give up smoking and you're not only help your health but save £135
4. if you hate where you're living why don't you just find somewhere else to live? even if you can't move for some reason why do you have to go to pub or do you just end up there? why not the park? visit friends or family? college? swimming pool (the list is endless)

lol great advice from someone with the user name homersimpson hehe, i tohught you would encourage going to the pub with all that "duff" beer. lol jokes :P

purple2

Thankyou for responding :-)
The diary idea is great, I will start it tomorrow and keep you all posted. There will not be much in it though as payday is a while away yet ha ha
I have been thinking about what I would do with the money if i was debt free, the first and most important thing would be to save up a deposit so i can move into my own place.
Its a vicious circle, i go out because I dont like staying in but then I'm spending the money I could be saving to move out :-(

Mrs_Sparkle

Hi Purple2, the best advice I can give is to get motivated. Get yourself addicted to this site and list your debts for everyone to see- as you see them coming down you will start to resent every penny you spend in the pub. I am now more addicted to NOT spending than I was to spending- and trust me, I can shop for Britain!

Can you start running or cycling maybe? I find that I don't get time to go to the pub these days as I've always got things to do. Also, if you really fancy a drink you could buy supermarket beer and sit in a park or garden with a bunch of friends in these long sunny evenings.

Hope that helps

purple2

I didnt know there were companies that did this for free!!
I will have a look at my paperwork tonight and see if i can get out of the arrangement.
The trouble with the pub is that all my friends meet up there along with my sisters. Maybe I need some new friends ha ha
I have just started to pay more off my phone bill than the minimum payment so hopefully that will be paid off soon and I will get a pay as you go phone.

homersimpson_3

lol great advice from someone with the user name homersimpson hehe, i tohught you would encourage going to the pub with all that "duff" beer. lol jokes :P

aswell as the deposit for house you'll need money for conveyancing fees, furniture and removal costs. there's potentially several thousands of pounds to be saved annually just on present outgoings (356*12= 4272) although I agree spending diaries can be useful. If the debt is only 10k it could be potentially be reduced in 2-3 years and any savings you make through spending diary could be put into a high interest building society account ready to purchase house.