Help. I'm a new debt free wannabe and don't know where to start.

wanna-be-mortgage-free_2

I would also start a spending diary where you write down absolutely everything you spend, you'll be in a better position to know where your money is going, especially on the food bills. Then you can make changes accordingly.

jen30_2

Hiya, Thanks for the advice about ringing the banks. I'll try that. We always pay ontime and haven't fallen behind on any of them. All insurance with Tesco but got no deal. Will be changing them when it's renewal time. Have already been looking around for cheaper quotes. Don't want to move now and lose out on no claims bonus.

Will also start a spending diary.

Careful_girl

Didn't know that you would lose out on no claims. You take it with you.
CG.:beer:

Floss

Tesco aren't the cheapest for renewals....go through Quidco, as you'll get cashback a couple of months after the renewal...also Post Office are currently giving £50 cashback (in form of a postal order cashable at the PO) too. They beat my Tesco car insurance renewal quote by almost £100 on the annual cost, before any cashback or Quidco money.

Floss

Careful_girl wrote:

Didn't know that you would lose out on no claims. You take it with you.
CG.:beer:

Am fairly sure you are right & that no-claims travels with you, but sometimes there is a penalty charge to cancel a policy before it expires.

jen30_2

If you move insurance before renewal you lose out. We moved once before and lost 6mths as they only consider full years.

Careful_girl

I agree Floss. See if you can get them to waiver it!!!!!!!You will have to send proof of your no claims. You send your last renewal letter. Confused .com is the place to check. But go through the affiliated links on the main site. http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1092813037,41960, There :money: doing his thang.
CG.:j

EagerLearner

Definately join Quidco.com - you will make a killing when it comes to renewing insurances - plus you could open an Alliance & Leicester bank account with 0% overdraft and earn £50 REAL cashback from Quidco. Open an account with Cahoot and you will earn more on top.

Start really looking at the shopping you buy each week - sounds like £100 per week - can you reduce to £90, then £80 etc and then it won't hurt so much.

Turn off your TV rather than standby. Also do you do many washes - any chance you can cut them down even by 1 was per week as this will save on water/detergent/electric.

Read Martin's e-mail every Wednesday - you can get great deals & news.

Join freecycle.org - bet you can save on kids stuff & also home stuff as all things on Freecycle are free.

Join pigsback.co.uk - collect points and get treats like cinema tickets, Boots vouchers etc - can all make a difference & save money.

Good luck hun & sit your man down to say things have got to change - both have responsibility to cut down, not just you - he will understand once you put all the figures in front of him.

Do Martin's budget and print it off - then show your OH & go from there....

calleyw

Hello and welcome thought I better say that before I go in nasty mean self

I am going to say my favourite saying but it is a case of slash and burn no questions or choice.

I have added it all up overdrafts etc you owe £34.5K :eek:

Sorry but you have to cut everything to the bone and I mean the bone. Yes I know I may sound a b!tch. I put my hands up I am not in debt but then I budget and stick with in my budget.

The usual suspects where you can cut to make savings are

food - feed two adults on £100 month so you can cut your bills to £300
phones both land lines and mobiles
Sky
Insurances both car and household - are you very young or in a crime ridden areas as your car insurances are really high
broadband

Yes the caravan may be cheap holidays but that is the future and not now as those holidays are costing you £1465.32 a year. Before any site fees etc.

You have nothing in the budget for clothes/presents/hair cuts etc.

This is the start and I do wish you the best but you do need to sit down and look at everything and I mean everything. And both you and your OH need to work together on this.

All the best.


Yours


Calley

AMILLIONDOLLARS

a bit puzzled, how can your overdraft be £2,500, if your income is only £750 a month that over three times your income, is that a miss print? if not it seriously needs looking into immediately, I would recommend stopping all unnecessary spending, take credit cards out of your purse and start on a case only basis, it worked for me, I think twice before handing over any cash I have in my purse.