Just when you think someone is fab with money...

Squirrel29

I guess never judge a book by it's cover. I have been chatting to a friend today and fessed up about my debt issues. I thought this friend was so good with money... nice car, always buying nice clothes, seemingly plenty of disposable income, luxury holiday and used to work in the banking industry. In fact they are as much in debt as I am and can barely sleep for worrying.

It goes to show that there are many more people living beyond their means, not yet reaching their LBM. :eek:

Tixy

Its true isn't it that it can be easy to keep up false appearences for such a while so that even close friends and family don't know what your true position is.

Hope you can both try to support each other through changing habits and clearing your debts - and you can encourage her to have her lightbulb moment if she isn't quite there yet.

elaine12022

good post, Squirrel29. I bought a booklet a few years ago when I first tried to sort myself out and the guy who wrote that said exactly the same thing - you may be envying someones posh house & car but if they are making payments on it, they don't own it,whereas if you wait & save up for something then it is actually yours, even if you wait longer.

I still use the advice in that book, it's very practical. There were CDS with it too, but I haven't listened to them. Like to pay in cash for things, and in what order to pay off debts. And advice on cutting down etc All good MSE stuff. In fact, I may have another look at it, to remind myself & keep myself motivated. After getting my own debt to a manageable level, I'm now trying to deal with OH's! :eek:

bottleofred

Hi folks,

Excellent post squirrel29 and completely spot on for lots of people today. For lots of people, credit is the only way to get things. I remember using credit cards and buying things which were £30 -£40 and thinking it wasn't much:eek: But 3 of these purchases took me over £100 and before you know it, things got way out of control. Now, I try to pay by cash instead of a debit card, as I can see how much I'm actually spending and can also decide if I definitely need or want the items in question.

Squirrel29

I am about to start a DMP and have opened up a new bank account with virtual savings jars. I intend to follow the budget Payplan have given me. I feel quite excited about my new form of control and organisation. I'm also going to use cash and I've got a spending diary as I totally forget what I've paid for on debit card and then get in such a muddle.

forsya

It is interesting isn't it and so true, sometimes I see young girls at work in their 20's (age when I was in debt) and they have nice cars and they have 2 holidays a year and the go out all the time and always buying new clothes and I know what salary they are on and I think to myself how on earth do you afford these things!! hen I realise it is mostly on credit and I just see more and more people around me in debt and so many people consumed by living the idyllic like with nice cars and holidays etc. but really these things are not so important.

I no realise that I don't really remember 'material stuff' what I remember is good memories and fun times with families and friends and experiences.

Each year we buy so much and then every goes to the tip and throws loads of stuff away! It is madness!

I wish you and your friend all the best of luck...

Never read a book buy it's cover...so true!

nu1isit?

elaine12022 wrote: »

good post, Squirrel29. I bought a booklet a few years ago when I first tried to sort myself out and the guy who wrote that said exactly the same thing - you may be envying someones posh house & car but if they are making payments on it, they don't own it,whereas if you wait & save up for something then it is actually yours, even if you wait longer.

I still use the advice in that book, it's very practical. There were CDS with it too, but I haven't listened to them. Like to pay in cash for things, and in what order to pay off debts. And advice on cutting down etc All good MSE stuff. In fact, I may have another look at it, to remind myself & keep myself motivated. After getting my own debt to a manageable level, I'm now trying to deal with OH's! :eek:

I know it's a bit cheeky elaine12022, but what was the book called...We're in the process of helping ourselves, so getting as much helpful information as possible....:D

Thanks in advance :beer:

Tracey2609

Squirrel29 wrote: »

I am about to start a DMP and have opened up a new bank account with virtual savings jars. I intend to follow the budget Payplan have given me. I feel quite excited about my new form of control and organisation. I'm also going to use cash and I've got a spending diary as I totally forget what I've paid for on debit card and then get in such a muddle.

I'm fairly new - what is a DMP?

BEAT_THE_DEBT

DMP is a debt managment plan set and managed by debt charities for free such as cccs and payplan never pay a company for one!

rising_from_the_ashes

forsya wrote: »

It is interesting isn't it and so true, sometimes I see young girls at work in their 20's (age when I was in debt) and they have nice cars and they have 2 holidays a year and the go out all the time and always buying new clothes and I know what salary they are on and I think to myself how on earth do you afford these things!! hen I realise it is mostly on credit and I just see more and more people around me in debt and so many people consumed by living the idyllic like with nice cars and holidays etc. but really these things are not so important.

I no realise that I don't really remember 'material stuff' what I remember is good memories and fun times with families and friends and experiences.

Each year we buy so much and then every goes to the tip and throws loads of stuff away! It is madness!

I wish you and your friend all the best of luck...

Never read a book buy it's cover...so true!

Well said! The above was me in my 20s and have spent my 30s repaying it all!

Christmas is a classic example of this - some of my friends spend £100s on their kids on things that are used a few times. The kids don't appreciate what they get as they have no idea what things cost and, as you say, in years to come will they remember what present they got? No!

Deeperblue

It's a shame its such a social no-no to talk about money and debt. There's a real stigma attached to people who are struggling with money that everyone keeps quiet about it, continue to try and keep up with one another and get into more and more financial trouble. If only we were more open to saying 'No, I can't come out tonight, I can't afford it' perhaps others would think 'Actually, you know what... neither can I... lets stay in and watch a DVD instead', I think we'd all be in a better position.