what did you spend it all on?

jenny+luke

my current debt is from going on holiday. really needed a break last year after a few bad things had happened so put it on my credit card.

a few yrs back i got into alot of debt from just going out most nights and loads of shopping. after paying off over £20k i learnt to live within my means and save for everything.
the holiday was just a blip, much needed 1. so i'll be debt free again soon and WILL stay that way.

Mikeone

My biggest debt built up from an initial student OD of about £1500. Several years later it had snowballed into a behemoth of >£20k.

Where did it go? A combination of living beyond my means, living on credit and staggering financial naivety. Although a large proportion of the debt is made up of fees and interest, if I had to sum up precisely where the money went, all I could say is ‘Leicester, England 2001-2009’.

I have to be honest though, I’ve had some great times.:rotfl:

hattiefats

My wedding was the big one (all paid off now but has taken nearly four years) and then wasting money on so much rubbish and little things which added up to a great big headache of debt! I was spending 20-30 quid a day on magazines, takeaway drinks, lunch, cigarettes and impulse buys from shops!

Mrs_Ryan

Clothes, mainly.... and doing Christmas entirely on catalogues.... OH's PS3 was a massive extravagance. However my credit card bill was mainly train fares to work which were unfortunately unavoidable...

**Upsy_Daisy**

IVF - then twins :rotfl::rotfl::rotfl:

UD

PennyPinchingMiser

I spent quite a bit of my debt on cars, booze, and women . . .

The rest I just squandered

itsalongroad

gambling...if you think you have an addictive personality - dont even dabble

Sharon87

Well for me I have had a couple of debt spirals if you like, only minor ones, but still I've got 3k worth of debt.

First one - uni. I was in debt before starting uni due to getting my student overdraft a month early and quitting my part time job way to early before uni. Then first year came and I ebayed for everything I wanted, from books to DVDs. Third year I decided to move to London and saved up £2000 (overdraft was then at £1500, so I had some money spare.

Unemployment and no Housing benefit was my other one, I moved into a flat for 10 weeks and I wasn't entitled to Housing Benefit, so that used the rest of my savings and I borrowed from my mum and got my Halifax Overdraft. When I got a job I thought it was full time - nope, so I claimed Housing benefit which took forever and I increased my overdraft.

Now I use spreadsheets for everything and do a budget and currently I'm on a diet so saving money not buying fatty foods at work.

ohfi

Holidays...more holidays....learning to scuba dive on holiday. Nights out and other peoples weddings!!

Lottebear

Holidays mostly, when I moved to London and meet OH, I lived in a shared house with a very controlling live in Lanldord therefore used to go away each holiday, so I have some amazing memories but never cleared the debt in between. I went to Thailand, Iceland, Malta, Austria, France in three years.

Also getting made redundant without any pay was bad as I didn't get paid for over 3 months in full, I started a new job straight away but the pay was 6 weeks in arrears. Oh and a wedding!

However since being married we have cleared over 20k, with only about 3.k to go.