Help needed please!!

Kazzalc

Hi all,

I am in serious need of help, I dont know where to turn to. I currently have a £4000 overdraft that I constantly live in, I also have debts on store cards upto £800 however you will be glad to know these cards have all been cut up now!
I live with my partner and we have a mortgaged house, we each pay a set amount each month into our joint account to cover household costs - so theres no concerns regarding this.
The problem is with my own finances, I really want to get out and stay out of my overdraft and clear my store cards but dont know what to do for the best and where to start!
Please help, thank you

Tixy

Hi kazza

It sounds like the first thing you need is to prepare a financial statement of affairs to see where your money is going currently and how much you should have available to put towards your debts. http://www.makesenseofcards.com/soacalc.html. Have you tried keeping a spending diary to see where your money is going. This can often help identify places you can make savings.

Does your partner know about your debts? Do they have debts as well?

Have you looked at your household bills to see if you can make any cost savings (eg by switching to cheaper providers etc) which would then mean you could both pay a bit less to the joint account?