my first month good, now getting less

notes

Hi all,

My first month since LBM i paid off about a grand. However, this is now my second month and now down to only 100 paid off debts. I know the reasons and thats due to car tax and insurance and also i decided to do a college course. I know these are one off payments and hopefully next month i wont have any expenses, but i now wish that i never signed on for college course, as would of made my month to have another 350 chipped off my debts.

I know i should count myself lucky that i managed to pay these things off in full and still have a little to pay off my debts. Before my LBM i would of had to put these expenses on a credit card. So i suppose i should be a bit happy. Just looking at balances makes me feel like last months suffering was for nothing as i only paid off 100 quid.

Oh well sorry to moan just wanted a little support i suppose.

whatatwit

Well done on month 1, that was excellent.
Equally well done on month 2, you have still managed to pay off something.
Even if you have a month where you just tread water, at least your debts are not increasing.
Think positive. :grouphug:

southernscouser

It alwauys gets harder the further you go but your debt is still going in the right direction! :T

Mrs_Sparkle

I too had a flying start in my first month but haven't managed as well since then. Don't give yourself a hard time- as long as your debts aren't going up every month you're still heading in the right direction. You will have a good months and awful months but just stay focused and you'll get there.

hannah:-)_2

I feel exactly the same! I get paid monthly and after sorting out a way to pay off a chunk of debt this month, I now feel frustrated that I can't do anything else at the moment. :mad: And with Christmas coming, it's going to be all I can do to just avoid further debt let alone clear any! :wall: It's really inspirational reading about all the money spinning ideas that the DFWs have, but I struggle to find ways to apply these to my own situation. I know there's a light at the end of the tunnel, but it does seem an awfully long way off at times.

Sorry, had hoped to be all cheerful and supportive, but hopefully it helps to know you're not the only one feeling a bit low

It will be worth it in the end though, so we should hang on in there and have a glass of something cheap and bubbly to celebrate our successes so far, no matter how much more we have to clear :T :beer: :T

notes

yes thanks for reply :beer:

well i never looked at it the way some of you do - i.e. at least the debts not increasing !

notes

perhaps im doing things the wrong way round ? What im doing at moment is when i get paid, all the money in my account before i was paid goes to paying off the debt. Then my pay sits in account till end of month and process repeats itself.
Perhaps im working the wrong way round and i should estimate what im going to spend in the coming month and then place the rest towards debt payments. Then repeat ????

What do you reckon is best ??? I would not be stuck for money as i have a large overdraft facility if needed, and it may be more incentive for me ???

whatatwit

Have you tried setting up a budget for the month and then paying off the rest of your wages to the debts.
If you have set yourself a spending limit, you are far more likely to stick to it, especially if your debts are reducing.
If the money is sat there, then it's sooooo tempting to spend it.

notes

yes whatatwit thats what im thinking of doing as at moment im doing the other way. Seems pointless if i know im not going to spend it, and like you mention it does indeed make you wanna spend it if its there.

If i do this then i can instantly take a bit more off my debt total for this month and make me a happy bunny again !!

whatatwit

If you put your budget in your sig, then update it as you go along each week, it will remind you.
Just don't be too strict to start, or if you go over budget you will feel downhearted and more likely to blow all the hard work you have done so far.

Little_Miss_Winner

The day I get paid i go online and pay as much as i can off my debt. That way once it's been paid off it cant be spent.

Whatever is left is whats need to live, if i aint got it i cant spend it!