Debt v Life

Bestthingsinlifearefree

The more people can disassociate "having a life " as = to / meaning spending money the better.

The media, credit card companies, keeping up with the Jones etc would like you to believe that you can only "have a life" if you spend money.

This does not have to be the case.

Annie_Fanny

Bestthingsinlifearefree wrote:

The more people can disassociate "having a life " as = to / meaning spending money the better.

The media, credit card companies, keeping up with the Jones etc would like you to believe that you can only "have a life" if you spend money.

This does not have to be the case.

Exactly what I was trying to say but said in a much better way and also in a nutshell!

Cheers BTILAF!

MET_3

ok point taken. When I say going without I mean the basics...food, clothing etc. I know people who take debt repayment to the extreme and go without a good diet and skip meals etc to make repayments. I'm really not having a go...but as I said I worry that people end up taking things to far. I've found that the best approach is to be realistic and not to stretch yourself to far..or you just end up missing payments which makes things worse. Hope that makes sense. Thanks. m

blondymitch

i think that everyone has different thoughts and ways of dealing with their debt. A lot of people on this forum (including me) want to get debt paid off as soon as they can, in my case i hate seeing money going out of my account each month on old credit card bill etcs from ages ago - and which i dont even remember what i orginally bought!!
but on the other hand people want to take there time and still have treats etc and that is fine as well.
People are different and everyone has their own goals - so as long as they are happy thats whats important.

whatatwit

Met, I understand what you are saying about some people going from one extreme to the other.
What I like about this board, is how when people post their SOA, it is often pointed out that they have not allowed anything for haircuts and presents etc.
I think that the experienced posters on this board know that too strict a buget will only lead to failure.

Catseyez

MET wrote:

Hi all, I have been lurking on this forum for a good few months and have decided to make a few comments. Being in debt seems to take over peoples lives...which I find very sad. I know its important to pay back your debts but there is more to life than just making repayments month in month out. The most important thing is your family and having a life. Debts can wait. People who you owe money to will wait. I owe £80k but make sure that I look after my family first and don't offer the creditors more than I can afford. I worry when people on this forum start panicking over a few grands worth of debts...and making offers which they can't afford. Banks and CC companies usually agree to your payment offers if they realise that is all you can afford...but even if they don't stick to your guns and don't offer any more. I set up a repayment plan with all my creditors and all agreed and have done over the last 4 years. I think the most important thing is having a life and keeping your family safe and happy. Anyway rant over. m

I used to be one of those people who panicked "over a few grands worth" of debt. A few months on with no debt, a positive balance in my account for the first time since I started using credit cards ten years ago, the bad dreams, nightime panic attacks, reluctance to open mail etc have all disappeared. I feel happier, more relaxed and also proud of my achievements.

What's more I can now look forward to planning for the future and think about savings, buying a house etc. When I go on holiday the money will be coming straight out of the bank account and won't be funded by a credit card.

I admit that during the months in which I was paying huge repayments towards my debt, my social life was a little non-existant. Yes, it did feel like a diet...and like all successful dieters, I allowed myself the occasional treat. Sometimes I had bad days where I fell of the wagon but then I got straight back on! I frequented this site and looked at other people for inspiration to help keep me going. During that time, looking to a debt-free future and a weight off my shoulders kept me working towards my goal.

Thanks to this site, I am now at the beginning of a three year degree programme and know that I won't be in debt at the end of it, unlike a large majority of students. I continue to look for tips and ideas on how to maximise my savings and get 'consumer revenge'. Careful budgeting and using the skills that I have learnt from my DFW days, means that I will not need to borrow any money to fund my studies.

You say that "being in debt takes over peoples' lives". I disagree. The people on this board are in the driving seat. Looking towards a debt-free future where Peter won't be robbed to pay Paul and where life can be enjoyed without being funded by a credit card/loan, is what takes over peoples lives. How can that be a bad thing?

Rant over.

Bestthingsinlifearefree

Great post Catseyez :beer:

msmicawber

It's good that you can be calm and philosophical about your debt, Met, but I couldn't. Some of it, I think, is down to personality - some of us just worry more about things, which I agree is futile, but a hard habit to change.

However, debt - even if it seems quite small to other people - can have a large impact on a person's life. For me, as a single mother on a low income and living in rented accommodation, having debt not only prevented me from giving my children what I'd like them to have, but also made getting somewhere to live even harder. Landlords don't want tenants on low incomes and/or benefits at the best of times, but if a prospective tenant then has a bad credit record because of debt, no landlord wants them. The thought of being homeless with children is terrifying to me. OK, I'd be housed in, say, a B+B hotel - what parent wants that for their children?

I have lived austerely for some years now (and will for some years to come, no doubt), but feel that paying off my debt as quickly as I could and while my children were fairly young, therefore less aware of how skint I was, was putting my family first.

matt4504

In fairness i'm trying to pay my debts off asap so i'm pretty much throwing most my money at it because i figure i'll be able to live a 'normal' life again but I do miss going to buy clothes etc. I went to open the Lloyd regular saver today and got a lloyds account. They offered me a overdraft but i was firm and said no. Overdrafts in my opinion are bad news.

crawley_girl

We are all entitled to our opinions and I don't feel it is appropriate to slate other people's views. We don't know fully each other's situation (ie income, outcome, family size and make up etc etc)

I am single and place a high value on paying off my debts as quickly as possible and I have a job that I enjoy and a fairly high income. Like other posters have indicated, sometimes I fall off the wagon but have to pick myself up, dust myself down and clamber back on board. One thing I won't scrimp on is my beauty treatments - nails, hair, waxing etc and these things are worked into my budget. Not that I feel I have to justify myself or my actions, I rarely go out or buy clothes and I feel I deserve these to keep myself sane! I could save money by going to a beauty college but I choose not too and this is my choice.

I can totally agree with everyone's point of view... but please be respectful in the way you challenge others.

Cheers!

:heartpuls CG :heartpuls