What are you doing to get debt free .... join in!

System

I've stopped drinking diet coke (saving at least £200-£250 a year - scary - and it just makes you fat lol)

Stopped buying Closer magazine (saving £52 a year)

Stopped smoking (don't even want to think about that one!)

rubytuesday

Yes to any network also free at weekends, evening calls are just to orange.

rubytuesday

Started a spending diary though can't find it at mo so got a bit behind.
Worked out I've spent £500 0n clothes for me and teenage daughter since January, only sales and Primark but that will have to stop.
Try and use up all food don't waste been making cakes and flapjacks when I've wanted to go to tescos for something sweet.
Done store cupboard challenge.
Try not to go to tescos if I can help it cos go in for cat food and always come out with other stuff and spend at least a tenner.
Growing some herbs and veg.
Transferred credit card debts to low interest but need to pay it off by nov so paying £450 a month to debts.
Cycle to work now along the canal really pleasant and saving £30 a month.
Leave hair for as long as possible between cuts and then some.
Went to RSPCA hospital with cat instead of vets like I usually do just because I can't bear waiting around.
Working an extra day at main job, trying to get as much work at other job.
Cut right down on buying mags was going to take out subscription with club card vouchers but needed them for food so will do that next time.
Split up with boyfriend so food shopping right down and not going out for meals most weeks. Do miss him tho but won't be getting back with him unless he goes to anger management or something!!!
Switched gas and elec suppliers.
Can't think of anything else.
Oh forgot using free internet at library and work (lunch time or after work)

Dr.Shoe_2

The best thing to do at the supermarket is to go in with a list and just about enough money to pay for what's on it. Even if you only need the one thing.

hbl_2

I've been signed up to the MSE email for a couple of years now, but I've only discovered how useful the forum is in the past month or so.

Ok, well my education is the cause of my debt. Around £32,000 at the moment, and that's professional study loan, student loan, a credit card and my overdraft. Spent the past year doing rubbish temp jobs, but now have something full time and better paid (still not brilliant), but I'm back home with my folks, I walk to work, I dont run a car and I dont have a girlfriend (my biggest outgoings before!).

With the proper job, I've gone militant money saving.

- I've used MS Money since 2003 so have a lot of data to base my budget on
- I dont pay my parents any rent (I know I know), but I've shown them that I'm serious about using that money to pay down my debts
- I've doubled my repayments on my post graduate study loan, currently £363 a month, and I might bring it up to £400
- i switched my egg card to one of the HBOS charity cards, 0% for 9 months - and just read how people we paying the minimum and saving the rest so as to earn interest and paying the whole thing off in the last month - it hadn't occured to me to do that, and I'm going to set that up tomorrow
- I opened a mini cash ISA, I know it's 'bad' to save whilst having so much debt, but I need *some* money tucked away, and I'd like at least a few hundred quid there
- same goes for a decent rate savings account, I need somewhere to put the monthly payments for yearly budgetted items, such as holidays, christmas spending, etc etc
- I opened a second current account at my bank as a 'spending account' - I'm going to put a monthly allowance in it that I can spend guilt free, but when it's gone it's gone... I put £40 in it this month, and I still have £26.50 - and I get paid again next week, am thinking of sticking anything I dont spend into a savings account or having it as rollover to the next month. Alternatively I just 'top it up' to my monthly allowance, the possibilities are endless...
- google calender is really good for keeping track of things to do, I can add to it while at work, at home and check it whenever online. same goes for www.backpackit.com - a really handy to-do-list online service
- budgetted a trip to London to see some friends - I hate always saying no, so (just like rich dad poor dad) I've stopped saying I can't afford and started saying how can I afford it. I did some sums and I realised driving is cheaper than train (sad but true), and if I limit my spending when there, it can be a cheap trip
- I've played Poker with my friends for the past year - it's a really good cheap night in. we'd play £5 buy in, and bring your own booze (we took this as an opportunity to taste wine as well, as we'd go to Oddbins and buy their wine on offer, so getting good bottles for £6 or £7 and learning something about it), we get to sit around and talk, hear each other speak, play music we like, drink great wine, and the winner got something to take home and promised to buy a good bottle for next time. Seriously, I can't think of a better way to get my mates round a table for four plus hours at a time just talking and having a great time for £11 all in. can't do that down the pub!

I think I've probably exhausted my ideas there, and everyones attention...

irchy_mum

Big round of applause to each and every one of you:j
You've all done great,my savings and changes were on "How Much Have You Saved"-keep up the fab work.

Jo x:A

Noobian

In the past 2 years
sold my car
got a network rail card
transferred credit card from 17.9% to 0% for 12 months
increased my savings deposit
gave donations straight from my PAYE with GAYE
paid off 2 overdrafts
and one loan of £6k
done odd jobs to give me more cash
cancelled 75% of my direct debits (stopped gym membership, contacts etc)
struck a property deal that gave me £3500 free cash flow
made £900 on Ebay from selling stuff and set myself up as self-employed
but I've just bought my flat so bit of a set back on some things so joining this thread to refocus efforts

just held a book review forum on 'The Richest Man in Babylon' and looking to implement it's principles and help 10 other people become debt free also

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Bank loan 1 HFX - £10,000 (13.9%)
Bank loan 2 CHT - £10,000 (9.9%)
Student loan SLC - £8600 (2.6%)
Credit Card HFX 1 - £2,400 (0%)
Overdraft LTSB - £1,000 (22.9%)

Imelda

Hi all,
Wow, you lot are an inspiration! I haven't been as drastic as some others but I was sooooo wasteful with my money that the amount I earn isn't the problem it's the amount I spend. I have:
* worked out and stuck to (well for one month so far) a budget that includes setting aside money for annual expenses.
* take packed lunches to work 4/5 days
* have reduced food bill to £70 per month (just me) from £100
* have reduced phone bill from £30 (was on PAYG and didn't realise how much I was topping up) to £10
* have got all debt onto 1 0% card (Barclaycard, no fee BT by applying in branch. Without MSE I would have done it over the internet and paid 2.5% fee!)
* have switched electricity supplier and reduced bill by £20/ month (not sure if they are undercharging on estimated bill so have been saving the £20)
* have joined pigsback and used vouchers gained (OH loves Thomas Pink shirts, managed to persuade him to buy them on line so I get the points) to buy clothes.
* I have opened a separate account for my household bills so I always have enough to cover the essentials.
* Have worked out that I can afford to do a part time course that will enable to me to start the career I wanted after uni.
I generally just feel so much more in control and happier with my finances, I never tell myself that I can't have/ do something but put the figures into my spreadsheet and show myself the impact this has on my plans, it seems to work for me.

Dr.Shoe_2

Noobian wrote:

just held a book review forum on 'The Richest Man in Babylon' and looking to implement it's principles and help 10 other people become debt free also

Have you read Robert Kyosaki's Rich Dad, Poor Dad yet? The cashflow quadrant really makes you think!

lovelybirchtrees

Since I had my lightbulb moment (August 2005) and realised I was £40,893.09 in debt I have:
Joined MSE
Cut up all credit cards
Taken on a salaried parttime job (I was totally free-lance previously and creditors didn't like the irregular income)
Gone to Payplan who do the letterwriting and arrangements with creditors
Started cooking almost totally from scratch
Shop at Tesco almost totally rather than Sainsburys and Waitrose
Started using Costco when it is cheaper - own business has made this possible
Bulk buy the basics through a food coop - again watching prices
Taken on extra work where I can
Changed both my and OH's mobiles to pay as you go - his is about £2.50/month and mine is about £5.
Changed to Talk-Talk for free broadband - I need the broadband for my desktop publishing business which I do from home (now in 18th year!)
Changed car insurance provider - saved £120
Changed to GreenFlag from AA and saved £55
Ditched Sky
Rejoined the library
Taken a two-week 'holiday' at home catching up on odd jobs and working on my hobbies - but with no extra spend
Shortened 5 pairs of trousers - gifts and cheap buys but at 5'3" trousers are always about 4" too long. I had put off the job for almost 2 years - couldn't make myself pay £7 per pair for shortening at the cleaners and couldn't get off my backside to do it myself. Now they're wearable and the ones that had gone through in the crotch can be turned into the rags they are.:j
Started making cards from my snapshots

So far have paid off over £6000 (12 months).:beer:

OH has started new business after completing his degree (July 05) - second career started again at 61 and hopefully that will start bringing in money rather than needing money reinvested as soon as it comes in. But, any new business has that problem for the first year or so.

With no other savings or income will be debt-free in Jan 2012 - I figure I'm in training for the Olympics.:j

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Lloyds TSB #1 OD £4000.00
Lloyds TSB #2 OD £333.84
Lloyds TSB Loan £14,659.17 (originally to consolidate!!!)
Lloyds TSB VISA £1,022.53
MBNA CHildline £8,336.86
MBNA Business £1,500.25
Alliance & Leicester £4,232.97
RBS Mint £2,498.00
Bank of Scotland £4,309.47