Help me please - I want to DO THIS this time and save my sanity

kathfisch

HateMyself wrote:

3. Start hinting to DH that things arent good.

Good on you for gently easing yourself into telling him! :T At least now when you do tell him, you've got a constructive plan to sort it rather than just a big problem. It will be a weight off your shoulders when you do.

Verbatim

You sem to have it under control and are making headway. hope telling your OH works out.

HateMyself_2

Hi everyone

Feeling a lot better today, may even change my username

Can someone give me a pep talk on how little bits off debt DO MATTER

I have got in this hole as if I have say £50 I choose to spend it as I think its just a small drop in the ocean, wont make THAT much difference so may as well enjoy spending it! I know that is B*LLOX but need to have it spelt out to me to change my attitude.

jobbingmusician

I think if you go on to a snowball calculator, you will see that if you throw £50 at a debt you will save LOADS over the life of the debt. And if you consider that you were thinking of a consolidation loan, I just played with a snowball calculator and came up with the following:

'For example, according to the figures you've just entered, you currently owe £50.00. If you consolidated that into your mortgage at, say 5.5% over 25 years, you'd end up paying £42.11 in interest.'

So you could tell yourself that by throwing the £50 at the debt you are actually avoiding a situation where you'd have to pay off £92.11 - inspiring huh?

HateMyself_2

Have decided to sell my car.

Hopefully get 6k for it, buy one for 3k and pay 3k off!

Have put the figures in snowballer and it reckons I will be Debt Free 18months sooner by doing this!

HateMyself_2

Ok...........

Progress

Have just found (!) 60 quid in an account and paid the overdue phone bill.

Used this weeks child benefit as an overpayment on highest APR credit card and just cancelled my mobile.

kathfisch

Congrats on the progress :T :T

Are you managing to silence the little voice that says 'oh, its only £x, it won't matter, drop in the ocean etc etc' ??

I like your reasoning on that Jobbingmusician!!

HateMyself_2

Im doing MUCH better on the drop in the ocean stuff.

I was reading about mortgage pigs last night too and have decided to get a debt pig and use it as a way to go the next step in telling DH the truth!