Lightbulb moment - Why did you have yours?

MrsTinks

Was sat musing about lightbulbs as you do and I was just wondering at what point and why others had theirs?
I actually found MSE before I had me LB moment oddly enough and realised I was going to be on here in a few years time saying "help I can't afford to pay me debts!"... and because of all the real life stories on here I had mine early enough to be able to fix the problem before it gets too bad hopefully...

So when did YOU have yours and why?

littlestar1981

Mine wasn't even two weeks ago.

I was moaning and moaning to my boyfriend about the ridiculous interest on my Visa, and he told me about MSE. I looked round the main site and subscribed to the email.

Then I think through clicking a freebie link on the email I found a chat board and found someones signature listing their debts in full. Since I was relying on parents to bail me out I thought 'hmm i should do this' and got.... the below signature.

Seeing the total just made me..... well speechless. There and then the switch flicked and i've been addicted ever since to scraping every penny together to be rid of this debt.

And I've never felt more positive about it. That's probably down to the fact I know where I am, I know where money's going (this month I havent said 'where did that £200 go?') and I know it is repayable.

Toomuchdebt

I had mine on Aug 01,2006 when I realised my bf couldn't move in because of my high credit card bills,and could have kicked myself.before then I'd had slightly flickering lightbulbs but this time it was like a searchlight that shocked me into seeing my whole debt.I cut up my cards a few days later and have now budgeted 6 months in advance and have a PLAN!!Wish I'd had the LBM 2 years ago though or even last year when my debt was HALF of what it is now.

The_Tax_Mans_Cash_Machine

Strangely I had mine after I'd paid my debts off.

I'd already cleared them once, then ran up another £10K in no time on absolutely nothing, then I paid them off again & managed to save a small fortune.

Because I was in debt I'd started a business that I could operate alongside my job, & it's done very well - effectively doubling my salary though the tax man gets a good slice too :mad:

I realised after I paid them off for the second time that I like being debt free much better, & that I'd start watching the pennies now so that I don't end up there again. Life just seems such much more carefree somehow.

The wife says I'm the tightest person she knows. Which is nice.

Gemmzie

Extremely non-DFW...
Dad finally admitted to struggling to pay his CCs after two months of just not paying (!)

He persuaded mum to get two loans to consolidate debts (credit cards and overdrafts)

We had a spare £4k to throw at Mum's cards and with Egg's anniversary offer we found we could make a profit by 0% tarting and sitting on the loan money. Been doing that for 18 months now so that was the LBM

(Father has still not had his, however, and is still spending on cc's so we'll probably have this whole situation again in about five years time :mad:)

DontDoDebtKids

I had mine when it became increasingly difficult to move my credit card balances (which were still going up) to new 0% cards!

I ended up paying two months interest at full whack on one card before I was accepted for a new card and then I realised that it couldn't go on...

Luckily, I was using Martin's tips on credit cards (get 0% cards with no fees and don't apply for too many) so I didn't get stung too badly.

But I became more and more wary of applying for cards.

Then I decided it had to stop. I couldn't keep running up cards to their maximum and then get newer ones with bigger limits!

So I transferred as much as I could to life of balance cards and have been paying them off ever since, slowly to start with and, since July, qutie aggressively!

Wish me luck!

southernscouser

I've just had a thought! Do we call it a lightbulb moment coz we were all getting screwed (in a non-sexual way)? :think:

PeachPickle

southernscouser wrote:

I've just had a thought! Do we call it a lightbulb moment coz we were all getting screwed (in a non-sexual way)? :think:

No, we call it that because everyone else does and we don't want to be different :rotfl:

Mine was 2 years ago, and there were lots of factors involved

moozie_2

I remember logging on to this forum thinking my life was full of glum and misery. I didn't dare open any official letters, all my debts were on minimum direct debits, my overdraft was maxed out and I was constanlty in fear of answering the phone in case any of the direct debits had bounced!

I don't know exactly when I had this so called lightbulb moment but after I picked myself up, gathered my thoughts and faced my post/internet banking/associated mess, my life has not been the same.

In general, I am a happier, more relaxed person. I check my banking every couple of days, I know what is coming in, what is going out and when, I know how much I owe to each creditor and I know when they will be paid off (within reason). My friends have noticed I am more confident and outspoken, my OH has been great, very supportive, caring, loving and we're even getting married next year!

A lot of this came from being on here and being ready to receive the help that was so generously offered to me. So, I am sorry I don't know if this answers your question but I guess the reason I had mine, was because I was ready to embrace my new life. Cheesy, I know, but true.

Imelda

I had my LBM in April this year, I had just found out my (decent) payrise and bonus and for the first time I listed all my debts. Well it was shocking! Over £10,000! I had no debt when I bought my flat last October (and put down a 5% deposit). I knew I had accumulated some debt, loan from Dad towards solicitor's fees and furniture, sofa on 0%, other furniture and holiday on a 0% card, an overdraft but always thought my bonus would cover it. Well it didn't! So I paid off all the interest accruing debt (except student loan as that was nearing the end anyway) and put aside as much as possible for the sofa (although 0% now, turns into 29% soon), then I transferred the remaining credit card debt onto another 0% (barclaycard, no BT fee if applied for in branch- thanks Martin!). Now I concentrate on saving as much as possible to pay off the sofa and credit card which will be possible by the time the 0% runs out next May, but I am hoping to use next year's bonus to pay off the card so that the £1500 I will have saved by then can stay in my ISA. I never thought this would have been possible at the beginning of April but this site has helped me so much!

saubryn

Mine came when my rent arreers hit 2500 and I was about to get evicted. I hadn't ran up most of the debt, my ex boyfriend had - I'm quite stingy already really, but I was too soft to say no.

I found this site when I was trying to find a way to pay the rent arreers, and its been helping me stay motivated to pay stuff off.