what did you spend it all on?

dib-dab

I am just interested to know how everyone got into debt - was it big purchases or bits and bobs? And how have you made sure that it won't get worse or happen again?

For us there were a couple of big things - wedding and honeymoon. The rest has just built up by always using the credit cards at the end of the month when money had run out. So easy to do and no idea how much it all added up, it's shocking really.

So now to make sure this doesn't happen anymore I have done a spreadsheet with all regular outgoings for each month and have built in additional spends for things like birthday presents, flights home (we live abroad), car servicing etc Then what is left over we use to pay the credit cards as soon as salary comes in. And now everything we spend is cash - total ban on credit and debit cards so no way of 'forgetting' what we have spent and thinking 'oh just this one little thing on the credit card - then another and another'. If we don't have the money then we don't do things or buy things. We have only started this in the past couple of months since we realised how bad things had got but it is great to feel like we are on top of things (even if a very long road ahead) and I am as sure as I can be that we will get sorted out and it won't happen again.

rictus123

bramble1

Trying to continue living in our own house so we didnt have to admit defeat to our parents....didn't work.

tiff

Just by not managing money properly and only making minimum payments therefore always adding to the debt.

misspixierocktastic

Dib-dab
Mine was college and then just ridiculous things that i have nothing to show for now
However i second you on the budget, it's very geeky but i seriously love it, i have a box for everything on my spreadsheet, i know martin says you shouldnt save but i put £20 aside a month in my emergency fund, it's another bank account then every six months i have enough money in there to pay my tax and mot etc without having to find a lump sum so the expense doesnt creep up on me, before i'd get to the point where i would have no money for repairs at all
I also have a section for xmas presents, in fact sometimes i just make up extra boxes in my budget because i like organising all the payments etc i've become a little obsessed by it :-) lol

I'm on a dmp plan with cccs thats how i know it wont get worse
also i have a car on h/p and a credit card to pay that i cant include on my dmp so the car's last payment is due march 2011 *does happy dance* so from there i'll snowball my debts using the money i used to pay for my car towards to the credit card (its got a helluva apr on it) then the rest to cccs
debt free by 2012 (with any luck)

Cooky667

Spending beyond my means for years and years.

viclspence

Mine was my husband being made redundant twice in the space of a year and me having my ds. We put everything on credit cards, took out a debt consolidation loan and he then got another job so we thought we were going to be ok and spent Christmas courtesy of the catalogues, but then couldn't pay it back cos he lost that job too due to illness!

elfen

Mine went on lots of big things, and little things, then I couldn't make the payments cos I got ill.

tiny_courageous

Getting myself through uni, bailing out my OH and indulging my love of live music (travelling all over Europe to see my favourite artists).

savingmummy

I gave up work when i had my first baby.
Had no income at all so used catologues to make up for having no money in my purse :mad:
NEVER again will i use a catologue as i will be debtfree in feb:j All accounts have been cancelled and closed
It has taken 4yrs:eek: x

picasso2

My debt was mainly built up going on holidays that I couldn't afford. Been to some great places but will now struggle to afford a weekend at the coast until its all paid off.