My SOA - KATCHAMBERS

youngandreckless

Glad to hear about the Alaska holiday, just think what a wonderful trip it will be when you can afford it and how much you will be proud of yourselves to have got to that point.
A tip on the clothes thing, go to somewhere like primark and pick up cheap accessories and then when you buy clothes (again primark or the like) go for plainer stuff and jazz up with the accessories - different belt, beads etc and no-one is going to notice you're wearing the same black top again - also make sure that every new thing you do get goes with as many different things as possible to maximise getting your moneys worth. x

Pinklepurr

I was gobsmacked when I read your figures, my jaw literally dropped to the floor. I can only imagine that you have been trying to "keep up with the Jones's" in terms of lifestyle. I cannot offer you any practical advice other than cut out the extras such as Sky, the cinema, swimming etc. Take a long walk to keep fit. Talk with your husband instead of sitting in front of the screen. Ditch weightwatchers etc. You CAN do it if you really want to. It seems the only thing stopping you is YOU. I wish you luck.

katepnlo

just to say, i you go on ebay you can get alot of Next stuff, when you sell on there if you are buying from a good seller the items will be imaculate.
i was watching a gorgeous skirt the other day (missed it typical) brand new with tags went for 10.00! better than the 35-45 or a skirt in store.
Even second hand stuff, i went shopping on next and my shopping basket for my 4 children was about 600!!!!!!!! i couldnt bring mysel to do it, went to ebay and spent about 40 so far (about a 1/4 of the amount of clothes..so if i buy 4 complete wardrobes...say about 160! for a whole season for 4 children., i know i could spend less but im pleased with that)
i get that many bargains i hate paying full price for anything.
Just one other thing i didnt see mentioned..with your own business are you saving for the tax man at all?
kate

Bluelad_2

lynzpower wrote:

I sesne you are gravitating towards those who agree with you, and I dont blame you. I personally would not like to be in your position, it looks somewhat untenable from where I am sat.

I totally agree with Lnzpower.

You obviously know the enormity of the problem you find yourself in, but it's only you who can help yourself. Everybody who posts only wants to highlight the things which they think can reduce or are causing your debt. If they aren't what you want to hear or don't sound supportive, it's because they've seen the light and have realised that things like getting rid of Sky DO make a difference.

Rgc_3

Hello Kat
Id just like to say a very big well done for posting your soa on here:T ....i know you feel as if you ve been dragged over hot coals with some of the advice you ve been given and i sympathise as its really hard sometimes to be told things even if we know inside its true.

You ve taken step one and the advice has came in fast and furious and alot of it is great stuff ; once you ve had a chance to get over the initial shock i think you will settle and start to look for a way forward .

I think its important to understand there is alot of people on here in a similiar position and a major focus in our/ their lifes is to get out of debt and with the combined energies going on in this forum there is quite an awesome force of combined minds at work so for you to meet that head on for the first time must have felt very daunting .

I ve been reading and reading on this board for a couple of weeks now and even yet i still dont feel quite ready to face what you faced on this thread....but one things for sure and that is almost all posters really want to see you/me and everyone else take on board the advice and start taking control of our lifes again.......the realities are your finances do need alot of attention but all good things come in bite sized pieces so work at your own speed through the ideas and keep an open mind to some of the ideas you dont like also ...when you feel ready then go for it but balance this with realising it does need dealt with as a priority.

I do hope you keep visiting this board and after a few days of getting over the initial shock i hope you start to work through some of the options suggested

best of luck

ps...could i suggest you do a full evaluation of the true overheads connected with your business...tax, liability insurance if required, fuel (wear and tear of car )advertising, bank costs, postage ...right down to paper clips....just as a start(it is possible you increasing salaried hours and putting the business on the back boiler for now could speed up the time when you can run the business full time.

tomstickland

I'm going to go off on one here. Before I do, I think the OP has done very well and is facing up to the situation in her own way.

However if I was in £80K of debt then I'd be lying in bed at night thinking about it all of time. Actually, I'd be thinking about it all of the time during the day too. I'd become so big in my mind that I'd have to consider extreme measures. I'd not be able to enjoy watching films or sitting in my hot tub. I reckon that after a few months of worrying I'd snap and go for the extreme solution. I'd sell all my possesions except clothes I needed for work etc, sell the house, sell the cars, and look at ways of earning more money.

Then again, a £177K mortgage plus £80K of debt is like having a £257K mortgage and some young couples do that an manage.

So maybe some half way house is possible.

roswell

Some quick maths, assuming for 1 second that your income stays the same and there was no interest to pay on all your debt and mortgage, assuming you only worked and paid debt (no eating or anything)
£3000 a month * 12 months = £36000

£257000 / 36000 = You will be working 8 years to pay this off, Now add the fact that you have to eat and there is interest payable on these debts and your probably looking closer to 16 years.

Id really suggest you look into IVA / Bankruptcy.

Pinklepurr

Consider also what you may want in the future. Children perhaps? Maybe you need some other goal to give you the incentive to cut back and stop making excuses for all these things you "need".

msmicawber

Hi Kat,

I've read through the thread and see you've had a lot of advice on most things, but hope you don't mind me adding a couple of things that occur to me.

I see that you/your OH spend out for tennis courts, swimming etc. - could you not get a family membership to the local leisure centre for much cheaper?

And/or: I see Weightwatchers fees mentioned as well as TV and cinema being your treats. Could you not do yourself a favour financially and healthwise by cycling and walking more then you could knock the Weightwatchers on the head? I know the area well, and there's plenty of scope for both activities.

Shopping - you're near Bletchley, which has a Lidl's and a Wilkinsons and various other good, cheap shops. I'd recommend using them for your household shopping and for getting cheaper presents. Also, you're not far from Bicester which has factory retail outlets. I'm sure that you could get plenty of good quality, fashionable clothes and shoes there for OH and yourself without having to spend out £50 per month. OK, in both my examples you'll need to use petrol to get there, but if you just go once a month or once a fortnight and save plenty of money, then it would be worth it.

Please think long and hard about your debt and your spending as you've made no allowance for things like interest rate hikes, loss of jobs, etc. It is so much better and easier to get your finances under control before a crisis than to be firefighting afterwards.

Best wishes.

black-saturn

sandralovescats wrote:

Black Saturn - I had a read of your menu for a month.

What happened to FIVE portions of fruit/veg per day?

You will all be ill eating all that stodge!

I have never seen such an unhealthy menu!

You obviously didn't read the thread properly like all the others which was why I had it closed :rolleyes: