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

calleyw

P.S to my reply.

Please don't re-mortgage to take equity out to pay off the debts. Because if you can't pay your mortgage you will loose your home. But if you are just re-mortgage to get a better the go for it

And interest rates have just gone up to day. And are suppose to go up again as well.

All the best.


Yours


Calley

jen30_2

Thanks for all your advice - lots to consider.
If we remortgage it's just to get a better deal - not to release equity.
An no it's not a misprint my overdraft is that high.

nellis10

Welcome to the board!! Whether it's £50 in debt or £50K in debt we're all here to support one another!!

One small thing I will say is...pride and preference go out the window when you are trying to become DFW! So in that respect if you really need Satellite TV AND broadband...a combination offer is best regardless of which one...Freeview is cheaper still and the kids still get CBeebies!

Also with young chilren they aren't aware of too much branding etc so they won't notice if clothes come from ASDA (where I get DS clothes) or Tescos (where I get mine!!) :T

If both you and OH are serious about getting rid of the debt then you need to make sacrifices. This is a lesson I learn everyday when I want to spend on something...I have actually found myself going round tescos with a shopping trolley getting what I think I need...stopping myself and asking do I really need it...and walking back round tescos putting everything abck on the shelf that I REALLY DON'T NEED...or I get lazy and stick it all on one shelf... :rotfl:

Lightbulb moments are really scary....I took me about 3 months to pluck up the courage to look at my current account online...head was definitely stuck in the sand...even though my debt is relatively small...it's still a mountain for me...as I am learning new budgeting skills everyday...Now I can't wait to get online and see what has come out of my account so I can mark it off my budget spreadsheet....the more that comes off the more I can see what I have left to fling with pride at the debts!!! :j

Anyway the experts will come up with good practical advice I just wanted to give you a cyber huggie!! <<<hugs>>>>

We're all here for support and if I don't get my daily fix of this site...I fall into bad habits....it's like the AA for me...;)

Take care, chin up...and relax...you will get through it!

jen30_2

Thanks to everyone for all the advice. Somethings you've said are bitter pills to swallow - like selling my car & caravan but I understand why you've suggested them. It's so scary realising how much we owe but having read through alot of the other threads I know it can be done.

Life has thrown me some real curve balls and I've always ended up buying something to cheer me up. Mostly it's stuff for the kids (whether they need it or not). I know this has to stop because whilst the initail high is great the enormous low I get when looking at my credit cards is awful.

Thanks again. I appreciate you spending the time to reply. It really is alot of food for thought.

calleyw

jen30 wrote:

Thanks to everyone for all the advice. Somethings you've said are bitter pills to swallow - like selling my car & caravan but I understand why you've suggested them. It's so scary realising how much we owe but having read through alot of the other threads I know it can be done.

Life has thrown me some real curve balls and I've always ended up buying something to cheer me up. Mostly it's stuff for the kids (whether they need it or not). I know this has to stop because whilst the initail high is great the enormous low I get when looking at my credit cards is awful.

Thanks again. I appreciate you spending the time to reply. It really is alot of food for thought.

Jen,

It is a lot to take in as so many of us come up with suggestions. Probably best to print out the replies and read them again tomorrow when your head is clearer and you feel that you are ready to make some action plan.

Start off slowly roman was not built in a day. And it is all about baby steps. But you have to have your OH on side as other wise it will not work. Your children are young. And as has been said they don't care if you spent 50p or £500 on item.

One thing that is easy to do and can be done over a cup of coffee. Is to go through all the fridge/freezer and cupboards and plan your meals from that. As well as the plan the meals for the rest of the week. And when you shop only buy what you need and no more. Go over to money saving old style forum for plently of housetips for food shopping cleaning etc. We are nice bunch over there really honest guv :rotfl:

Look at where you efforts best lie. if you think selling a car and the caravan would work then go for it but plan where the money is going to be paid off.

I must admit that I get my shopping high by buying birthday/christmas presents through out the year. So I always get bargains but a little jolt of retail therapy at the same time.

Look at places like pigsback etc for getting freebie vouchers for a small amount of your time. PM if you want to know more.

Don't forget we can come up ideas of what to do because we are not emotional attached to the situation unlike you. So we can make suggestions that you would not even think about. Like sell a car etc.

we are all here for support and it was brave of you to lay bare your financial soul. But as they say bearing your soul is good for.

Do keep us informed of what happens and how it is going. And we are here to help through the good and bad times. And you never know you might get addicted to money saving and feel you would rather have the money in your pocket. I know I do.

Take care and I hope I did not scare you to much. I am really a nice person

Yours


Calley

bella20_2

try looking on confused.com for a cheaper car insurance quote my OH used to pay £86 per month just for him on his own but to put me on as a learner driver and change to a different company it went down to £55!!

becky x