My SOA. Shocking (and long sorry!)

kathfisch

Hiya

I don't think anyone's mentioned keeping a spending diary. It can simply be a notebook and pencil, or an excel spreadsheet if you prefer. Write down absolutely everything you spend, every penny and what it was spent on. Then at the end of the week or month add up how much you've spent on what. The results of where your money is going might shock you! I found myself deciding not to buy things I didn't need cos I'd have to face up to it later by writing it down - no more burying head in the sand!

cas26

missk_ensington wrote:

What do you do to your hair for it to cost £35 a month? Can you use a Mobile Hairdresser? I've reduced my highlights/blow dry from £72 to £40 by using a Mobile Hairdresser.

You can do mystery shopping for haircuts. I go to headmasters. I have to pay for my haircut and they then pay it back once they receive my questionnaire, if you time it right you pay after pay day and then get a nice surprise when you think your broke.:j I only get one free colour per year but you could have that done somewhere else as they aren't the cheapest!!!! The only downside is you don't have a regular stylist and you need to be able to get to various salons although I tell them where I can go. (I might try London salon next, always wanted to spend loads on a haircut, it's even better getting the money back).

There might be other salons that offer this service.

Hope this helps someone save!!!!

kerryhoney

will try the hairdressing thing. As for the job, I couldn't change it cause altho it's shifts it is well paid and in yrs to come the pay gets loads better...thanks for your suggestions tho xxx

kerryhoney

and ta for the spending diary idea. I think it too would make be stop buying things cause I'd be so embarrassed. Will try from tommorrow. Eeek. (and resist the temptation to buy a nice new notebook )

melancholly

i found it surprisingly liberating to stop getting highlights done!! i was spending £80ish every 2 months, but then just dyed through a permanent colour that was almost like my own (not that i'd seen my natural colour for 10 years!) for about £5..... no more worrying about roots and fiddling with where my parting was to hide them - it can be a good thing!! there are also plenty of expensive salons that have training nights when you can get great haircuts cheaply.

i completely understand wanting to hold onto aspects of yout lifestyle that you like - but it's amazing how quickly you can turn into someone who wants to shout about saving money! if i have a spending spree now, it's wasting £10 in a supermaket shop, or buying something for £5... and i still get the guilt about it! i bet if you were saving up £35 a month for an expensive holiday, you could manage it, but paying off debt doesn't seem so tangible! for some people it's all about taking lots of little steps, whereas for others a sudden change in the system works wonders. either way, you're on the right track - you just need to be very harsh with yourself on what is a reason why you spend money and what's an excuse (and we've all been there!)

lynzpower

As you work shifts you may well be able to take advantage of "model" hairdressing. In london they are usually held at random times like tuesday mornings, and a cut will cost you nothing. Do check this out.

All the best with this, and why not join in with one of the ebay challenges? Im sure you have shed loads of stuff you dont wear if you have been spending all that money per month! And an excuse to clear out the spare room!

One other way of making money - i dont know how big your spare room is, but you can get foreign students in too ( loads of schemes ask about) and trhey pay about 70-100 pre week. Its not permanent either so might be worth a go.

If you have loads of carp in your spare room/ garage- clear it out and sell it!

gallygirl

Kerry, sorry for what's to follow - think it's called 'tough love'!!!!!!

kerryhoney wrote:

I didn't think I had had my lightbulb moment but then I did the snowball calculator. If i carry on the way I am at the moment then (irrespective of any more debts I would have incurred) I would have to pay £11,720 in interest. I couldn't and still can't quite get my head around that. it's shocking and the biggest waste of money ever. I could have had a spanking new car or put it towards my mortgage. I am so freaking angry!!!!!!! I really resent paying all that to as%hole companies. I know its my own fault but there is no way that I'm paying them that much. I'm giong to ask my parents if I can either decrease or stop payments to them for a bit and then put the money towards the other stuff, it will save me just over £1,000 if I do it enough to pay off my overdraft first and put it towards my other loan.


Kerry

No No No!!!!!! You MUST stop relying on the bank of mum & dad to lend/give you money or halt repayments. This is NOT the answer - you will end up in a worse situation than ever. Also, why should your dad give you 50% of your car repayments if you are not paying other debts back?

You are right that 11k is a disgusting amount of interest - so instead of copping out by robbing Peter to pay Paul make an effort to reduce your spending and increase yoru income.

1. Learn to cook. Go to charity shops and buy a few cookery books then experiment. You CAN do it, and will great a big buzz out of it - I promise.

2. Write out menus for the week . Batch cook on your days off. Then before you go to work take dinner out of the freezer. then you will just have to cook pasta or rice, veg etc when you get in - this can be done in teh time the microwave takes to 'ping' your current dinner. You'll quickly look forward to going home to what you've cooked.

3. As part of 2, start sorting out lunches. Can you heat up soup or dishes at work for a change? If there is a fridge take the stuff into work and make sandwiches there so they are fresh.

4. You must have TONS of clothes. Stop buying. Forget the swapping - get them out & ebay everything you can't remember when you last wore it (barring winter clothes at the mo). You can earn a lot of money this way.

5. Set yourself a target - join in with the shopping or debt challenges on here - or set your own target - clear your overdraft, it represents a big chunk of that 11k interest. Aim to bring your debt free day forward - what is at at the mo - put it on your signature, then aim to slash it.

6. You seem to work irregular hours so a second job wouldn't be an option - but you have a degree - investigate AQA (any questions answered) - you could do this from home in your spare time, some on here make a good second income & it would stop you going out spending.

7. Keep the spending diary recommended by others. At the end of the week go through & highlight in green (necessary & cheapest), orange (necessary but could have got cheaper elsewhere, e.g. emergency tights for work!) or red - em,,, what most of your spending seems to be at the moment. Add up all the reds & multiply by 52. How much is it over a year? How much interest would you have saved over a year? How much would you have brought forward your debt free date by? Was it worth it?

More than anything though you need to take responsibility for yourself. Until you do, you could have more lightbulb moments than Blackpool illuminations, but until you accept it is YOUR responsibility you won't stop the problem reoccurring.

Sorry to be so harsh......

lynzpower

I completely agree there with what Ali said, I was going to say the same but realised that Ive been so *harsh* Id leave it for someone else to say.

Let me tell you a story. My parents have lent me shed loads of money as well. they saw me struggling and thought theyd help. Me, pre lightbulb thought, you know what, great, parents will cough up. Do you know theyd cough till they are grave-bound, they believe that they are helping. I said to dad post lightbulb :idea: lending me money is a way of keeping me as his little dependant, he replied " do you think i dont know that" LOL.

Dont stop paying them for gods sake, youll still owe them shed-loads in years to come. It wont get you out of debt faster.

The whole point of getting out of debt is not just the snowballing, but paying off ALL debt ASAP. Not shuffling it about.

Best of luck with it.

gallygirl

lynzpower wrote:

I completely agree there with what Ali said, I was going to say the same but realised that Ive been so *harsh* Id leave it for someone else to say.

Let me tell you a story. My parents have lent me shed loads of money as well. they saw me struggling and thought theyd help. Me, pre lightbulb thought, you know what, great, parents will cough up. Do you know theyd cough till they are grave-bound, they believe that they are helping. I said to dad post lightbulb :idea: lending me money is a way of keeping me as his little dependant, he replied " do you think i dont know that" LOL.

Dont stop paying them for gods sake, youll still owe them shed-loads in years to come. It wont get you out of debt faster.

The whole point of getting out of debt is not just the snowballing, but paying off ALL debt ASAP. Not shuffling it about.

Best of luck with it.

:rotfl: :rotfl: :rotfl: You can always rely on me Lynz to go down the tact and diplomacy route!!!

Actually, I was thinking of you when I wrote it, as you've said this many a time. Parents are great for prezzies & real emergencies, NOT to rely on (or you'll have spent all your inheritance early!!!!!)

lynzpower

Ill never lend my kids any money- doesnt do them any good as far as Im concerned, especially when you start getting into the 10k territory :eek:

the other aspect is my folks are giving me this at 0%, but they must be losing 5% min by doing it. Im making money out of my own parents, really makes me feel like carp.