Hi everyone.

Fuffa

I would like to say hello.I am in debt and I am also stupid for allowing myself to get into this situation.I have nothing to show for my debt except lots of clothes and cosmetics.:o

I'm around £20k in debt I have one bank loan and three credit cards along with car finance for another two years.If I carry on paying I'll be 80%debt free in 3 years time.I currently owe around £9k on credit cards.I am a spend threft I can't seem to stop spending and I think I'm victoria beckham when it comes to splashing out.I earn about £1250 a month and I pay...


Loan £293
MINT £69
MBNA £100
EGG £100
CAR £113
INSURANCE £78
SKY£21
GYM £40
MOBILE TELEPHONE £120
PETROL £70
TELEPHONE AND BROADBAND £25
LAPTOP £25
OVERDRAFT IS AROUND £900-£1100 OVER DRAWN A MONTH.

FOOD IS AROUND £150
AND CIGGERETTS £80
CLOTHES £300
SAVING £50

£1584.Now this doesn't add up because I'm over drawn everymonth and it should be a lot higher than the amount I've added.Also because Im so overdrawn my wages are often taken the minute Im paid so Im od again.It's a bad cycle

I've joined up on the mystery shopping so I'm waiting to see if anythings offered.In the mean time what can I do to hurry up paying this debt?I really hate being broke yet I still find money to go out and buy stuff to cheer myself up.I have cut up all my credit cards so I know thats a positive thing and I won;t lie to you.It's hard not having them to pay for sur of the moment things.

I would like to get another job so maybe get more money in but I'm embarassed if Im honest.:o I can't bring myself to ask at the local bars if anyones hiring.Sorry if that sounds silly but it's true.No-one knows how in debt I am.My husband knows I'm in debt but not how much:eek:

I'm so messed up It's all my fault I'm in this mess NOw I need to get myself out of the rut and back on the straight and narrow.Has anyone got any suggestions that may help me?I'll be grateful for anything.

Thanks if you managed to read this far I'm sorry if I rambled on.

Thanks Fuffa xxx

apples101

Welldone on posting, it's a big step.

we need more info on your SOA I will list below with a couple of added comments (the real pro's will be arround soon to help)


Loan £293Please state interest rate and duration left, also do you have insurence included?
MINT £69 is this your minimum payment, what interest rate? insurence included?
MBNA £100 same as above
EGG £100 same as above
CAR £113 please braek this down to it's compaonants ie insurence fuel etc
INSURANCE £78 what is this for?
SKY£21 guessing this is basic package could swap to free view box
GYM £40 do you really need / use this?MOBILE TELEPHONE £120 HOW MUCH:eek: can you please break this down
PETROL £70 how much milage do you doo?
TELEPHONE AND BROADBAND £25 not bad but can be done cheaper Talk Talk etc
LAPTOP £25Not sure on this poss look at 0% card if you have one....
OVERDRAFT IS AROUND £900-£1100 OVER DRAWN A MONTH.

FOOD IS AROUND £150 please state for how many people
AND CIGGERETTS £80you can cut this down! lol (i'm a non smoker...lol)
CLOTHES £300 how many is this for is this a luxurary that you can afford
SAVING £50 how much savings do you have? can you put a hold on this?


I'm sure that more people will be arround soon to help out.

good luck

ms_london

Hi Fluffa - welcome to MSE!!!!

Youve taken the first step to acknowledge your debt and post a SOA - sometimes thats the hardest part, so well done!!!

Total Income - 1250

CAR £113 - what is APR? and balance? Do you have to pay a lump sum at end of 2 years or its clear?
INSURANCE £78 - could you get a cheaper rate?
SKY£21 - get rid of or downgrade?
GYM £40 - do you use this enough to get your moneys worth?
MOBILE TELEPHONE £120 - wow, could you get a better tarriff? This is TOO much!!
PETROL £70 - do you use the car too much? Could you sometimes walk?
TELEPHONE AND BROADBAND £25 - not too bad..
LAPTOP £25 - whats the APR? How long left to go?

Does your hubby pay the rent/mortgage & other household bills then? Gas/electric/water?





OVERDRAFT IS AROUND £900-£1100 OVER DRAWN A MONTH.

FOOD IS AROUND £150 - Not bad, but may be able to cut down to 100!
AND CIGGERETTS £80 - No comment - have you tried giving up? Reducing them?
CLOTHES £300 - you cant afford this - if you cut this out you wouldnt be over spending each month!!!
SAVING £50 - At least you are saving something! What does your savings pot stand at? is this for something in particular or an emergency fund?

Loan £293 - who with? apr? balance? are there any early/overpayment fees?
MINT £69 - balance? apr? any room left on card?
MBNA £100 - balance? apr? any room left on card?
EGG £100 - balance? apr? any room left on card?

Although with the above budget you are spending above your means, if you were to cut out buying clothes (or at least cut down) and cut down on other areas you would be coming in under, or just breaking even.

Also, what about your OD? Are there fees or interest on this? I think you should set an amount aside each month to reduce this? Call your bank and ask them to reduce by say 50 pounds each month on a set day - otherwise youll pay it off and then spend it again.

Could you sell any of the clothes etc you do have? Ones you no longer wear or dont like? Sell them on ebay.

What about budgeting for car tax/christmas/birthdays/holiday/car MOT/an emergency fund? You need to work this into your budget and take out a small amount each month - transfer it into an ING account which you can label as you please, that way when Christmas is here youll have some money to go towards it etc etc.

I think you need to tell your hubbie the ful extent of your debts, there is no point lying to him, he wil find out and it will only make things worse!!

I am sure others will be along in the morning.

Good luck xx

postingalwaysposting

hiya fluffa, i cant do soa, they arnt my thing but someone will be along soon :rolleyes: but i just want to say sign up to pigsback, then you can save for boots vouchers to buy cosmetics and also sign up for quidco, what with xmas coming up if you get all your xmas presents through them you would get a huge about of cash back, wish you luck on your debtfreeness :j

southernscouser

Fuffa, if that is you in your avatar it's very important that you PM me straight away!

Nah seriously, you've got some potentially big savings there.

Mobile phone bill for starters! What price plan are you on? You should be able to get hundreds of free minutes and texts for around £30! :think:

Clothes. Personally I think women look better without them so stop wasting your money on these.

Cigarettes. I'm not gonna preach to you but.................smoking kills!

£470 saved straight away!

ms_london

southernscouser wrote:

Fuffa, if that is you in your avatar it's very important that you PM me straight away!

Up to your old tricks again I see?;) :rolleyes:

This is not a knocking shop......:rotfl:

(arent you going to wish me happy birthday? )

xx

southernscouser

ms_london wrote:

Up to your old tricks again I see?;) :rolleyes:

This is not a knocking shop......:rotfl:

(arent you going to wish me happy birthday? )

xx

You have a PM my sweet! :kisses3:

Fuffa

Hi guys,Thanks for your replies sorry it may have helped if I had added the aprs in lol

Loan £293 7%
MINT £69 12%
MBNA £100 15.9%
EGG £100 14%
CAR £113 10%
INSURANCE £78 this is my car insurance and was the cheapest by miles
SKY£21
GYM £40 I could cancell thisMOBILE TELEPHONE £120 I could reduce them PETROL £70
TELEPHONE AND BROADBAND £25
LAPTOP £25
OVERDRAFT IS AROUND £900-£1100 OVER DRAWN A MONTH.

FOOD IS AROUND £150
AND CIGGERETTS £80
CLOTHES £300 I can cut this down its going to be hard though
SAVING £50


ms_london I'm sure I've spoken to you before.About diets via email.It was at least 9 months ago and I was telling you about a liquid replacement one.I hope it was you lol Happy Birthday x x

ms_london

Fuffa wrote:

ms_london I'm sure I've spoken to you before.About diets via email.It was at least 9 months ago and I was telling you about a liquid replacement one.I hope it was you lol Happy Birthday x x

I dont know what you are talking about!!;) I dont know, it may have been!! (still fat though, hehe!!)

Well done on getting started, it will be worth it!!!

lynzpower

Hi there Fuffa

A few things from me

1. you will only get out of debt if you stop overspending. that really is the bottom line. Cut those cards up, now.

2. Do you not pay rent or bills like electric council tax ??

3. I suggest you tell your husband how much debt you are in, facing up to what the situaiton is is the 1st step to getting out of it

Ive relaid it out for you

INCOME 1250

OUTGOINGS
Loan £293 7% (
MINT £69 12%
MBNA £100 15.9%
EGG £100 14%
CAR £113 10%
INSURANCE £78 this is my car insurance and was the cheapest by miles
SKY£21
GYM £40 I could cancell thisMOBILE TELEPHONE £120 I could reduce them PETROL £70
TELEPHONE AND BROADBAND £25
LAPTOP £25
OVERDRAFT IS AROUND £900-£1100 OVER DRAWN A MONTH.

FOOD IS AROUND £150
AND CIGGERETTS £80
CLOTHES £300 I can cut this down its going to be hard though
SAVING £50

---

TOTAL SPEND 1564
OVERSPEND 314 per month

Lots of people have made comments on this, so I dont need to go through it again, but As others have siad there is no point having savings if you have debt, unless your savings account interest is higher than your interest on your CCs. I guess it isnt as theres very few examples where this happens. WHats the savings for?

Also I notice you have a car, but make no reference to petrol/ parking or any other car costs. You need to look again at the budget planner at the top of the page. this will give you an idea of all the costs.

also you havent told us what your total debt is, do you know?

Also to say, Im a smoker myself, and I would say, a) theres no point in spending on nice cosmetics if you are a smoker, you are damaging yourself, you know it i know it dont waste money trying to pretend otherwise and second, could you make your flat/house a non smoking zone? We have just done this as we are decorating to sell the flat, and now smoke in the garden. I must say the motivation to smoke is almost nil. Ive been up for an hour now, and I would have had at least 2 normally by now, but I cant be bothered to go outdoors.

And lastly, You need to remeber, you are not victoria beckham. She has a millionaire husband and more money than she knows what to do with. YOU DONT. Victoria beckham gives her old clothes to charity auctions. you can sell yours on ebay. At least try adn recoup some of that debt. If you are spending 300 a month and have been for a while you must have LOADS of stuff to sell in your place???