Dollys' Discombobulated Debt

dollybeads

Not really sure how to start this, my relationship in the past with diaries has been a bit sketchy, had a lovely diary from OH last year with the promise i would keep it for a whole year (one of my 100 things to do .....) but gave up in about mid Feb. So I am hoping this will be a bit more reliable!!

The purpose of this is really for me (selfish I know) but to record my progress in becoming debt free, its going to be a long hard slog. If anyone would like to join me and can offer advice and support along the way, i would be delighted. At present I will take any support, encouragement, advice anyone can offer. A pat on the back goes such a long way for me, this sounds a bit sad but is the effect it has on me.

The story so far can be found here https://forums.moneysavingexpert.com/discussion/2964110

But in a nutshell, 35k of debt, all down to me and recklessly spending over the last 15 years or so. No one else to blame purely my own fault. So it is my mission to clear this in as short a time as is humanly possible and more importantly to change my ways for good. Have made many changes so far, which are working well (all suggestions from the lovely DFWers on this site, thanks all). Just these simple changes are saving me a fortune already. Have started snowballing and made first overpayment ever last week, hurrah!

A few people suggested a diary, and I guess I am not at that horrible crisis time that comes with your LBM, so this forum does seem a little more sensible and will clear the way for others coming to that place.

So thank you to each and every one of you who have advised, supported or patted me on the back for small successes, you can never really know how much this has helped to turn my life around, so onwards and upwards towards my end goal.........

Dolly x:hello:

Herewego

Welcome to diary land, just been and read your original thread and you are doing fantastic.
I have subscribed and will be joining you for the journey, as you can see I have a large debt and just started my second year trying to clear it its amazing how quickly you can change your way of thinking.
Keep up the good work

HWG x

dollybeads

Thanks for the post, and Wow what alot you have shifted in a year, thats truly amazing!!! Any tips you can offer a newish wannabe?

Some sales on ebay for me a just finishing and have made just over £200.00 in January, all of which will go towards my debt. This ebaying thing though won't last as even I will run out of excess clothes and shoes to sell at some point. I have made a vow that from now on, I will not buy anything new (or second hand) unless I get rid of something that i already have. My OH is desperate for me to reduce down my clothing stock from the 4 wardrobes I have at the moment, plus loads of cupboards, boxes, on top of wardrobes etc.

Did my second downshift shop yesterday, and for a week spent £31.14, I never realised before just how much you could save by doing the simple things of having a list (and sticking to it) and choosing the cheaper version of things. My usual spend would be about £80.00 on the weekly shop with a dozen or so other things during the week, taking total spend to in excess of £100.00!! Its unbelievably easy and is the thing I think that saves me the most money, and by having a weekly meal plan, it stops me having to go back in and part with cash at other times. Its so simple I could kick myself in the a*** for not doing it before, but I guess its all part of the learning.

Off now to cook joint of Gammon in the slow cooker using Coke, sounds weird but told its lovely. Also making homemade soup and my own bread this afternoon, plus HM biscuits. I have become mother earth (I wish).

Dolly x

Ps thanks Herewego, for the first post, I was feeling a bit embarrassed that I had not had any posters, billy no mates and all that

Herewego

The best thing I do is make regular overpayments throughout the month from ebay/amazon /car boots anything i can make cash from, it makes such a difference to the monthly interest. I focused on one account at a time and just went for it not stopping until it was gone, I also posted every little overpayment on my diary so it sprurred me on.
Have you any cc charges you could try claiming back I did this and it made a hige difference.
One more thing I have done more recently is meal plan it has saved me so much money and we are eating much more healthly and I dont throw any food away now.
Its very addictive this MSE way of life, just made Banana Loaf and now off to make Roast Pork for today and cottage pie for tomorrow make Monday evening an easy dinner

dollybeads

Thanks for that, have just started a regular overpayment of £300.00 per month on one loan, but will put anything else i get in there too. I regularly have overtime at work and used to spend it as soon as it arrived in the bank, but will use this also.

Re re-claiming charges, have been thinking about it, I was sold insurance on both of my loans, even though I did not need it and stated this at the time. (have cancelled since) Not sure if this is a complicated and time consuming thing, but will look into it and see if there is any mileage in this.

Have also been ummming and arrrrhhhing over whether i ought to sell my expensive watch (worth about £1000.00). I have all the papers, boxes receipts etc. It would certainly help towards clearing the debt, but I wear it everyday and do love it. Would welcome any suggestions on this. I am not desperate for cash, but it would help to clear some of the outstanding debt, but think i would really miss it!

Dolly x

Herewego

dollybeads wrote: »

Thanks for that, have just started a regular overpayment of £300.00 per month on one loan, but will put anything else i get in there too. I regularly have overtime at work and used to spend it as soon as it arrived in the bank, but will use this also.

Re re-claiming charges, have been thinking about it, I was sold insurance on both of my loans, even though I did not need it and stated this at the time. (have cancelled since) Not sure if this is a complicated and time consuming thing, but will look into it and see if there is any mileage in this.

Have also been ummming and arrrrhhhing over whether i ought to sell my expensive watch (worth about £1000.00). I have all the papers, boxes receipts etc. It would certainly help towards clearing the debt, but I wear it everyday and do love it. Would welcome any suggestions on this. I am not desperate for cash, but it would help to clear some of the outstanding debt, but think i would really miss it!

Dolly x

Have a look at Martins template letters regarding reclaiming PPI could be worth a shot, really simple I managed to reclaim about £2k you dont realise how it adds up.
I woudnt sell the watch especially if you wear it daily.

LittleFatFairy

Hi Dollybeads. Hope you don't mind me popping in. Just read your diary and thought that I would say that I think that you should keep the watch. If you wear it everyday then you can use it as your trigger to watch your spending - excuse the pun! But it does work. So when you get up in the morning and put on your watch you can say to yourself 'today I will ...' and basically fill in the blank. It puts you in control!

Hope that helps x

dollybeads

Thanks Herewego and Fairy

Just wanted some reassurance re the watch, I have worn it every days since I bought it, (on credit of course) but I really do love it, so thanks for the suggestion ie each time it put it on.

And just off to have a look at the template letters, what the worse they can do? Say no, but equally I might get some back that I can put towards the debts!

Thats another benefit of going through this process, it has given me the courage to tackle banks about money, before i was so ashamed I was shaking like a jelly just at the thought.

Will let you know how I get on.

Have a good afternoon Dolly x

dollybeads

MSE ways today

Homemade soup
Homemade busicuits
Homemade fruit crumble (using foraged blackberrys and Apples)
Slowcooker Gammon joint (Value type from tesco) this was delicious
Vegetables from our allotment (leeks and parsnips)
NSD n* 13
Sold 15 items on ebay and made £217.99
Listing 8 more items on ebay

All of the above makes me sound very virtuous and some kind of home/mother earth type, this couldn't be further from the truth (if only) but just some of the things I am doing to keep from spending and increasing my income so that i can smash my debt this year.

I am going to have a look at the template letters from MSE to see if I can claim back any payment protection insurance I took out when I had my loans some years ago. Before now I would have been too embarrassed to do this. I felt so ashamed that I had got into so much debt that did not feel that it was appropriate for me to be enquiring about claiming anything back. This sounds really dumb, but is evidence of just how paralysing debt can be. I just did not feel worthy enough to even go into the bank, or to speak to them on the phone. It sounds pathetic now, but i just didn't feel able to cope with it.

This last week, I have registered and started buying online via quidco and have made £7.00 so far. I buy quite a bit online for work and they are happy for me to do this, so will save this up and add it all to the pot for overpayments.

Off now to put some more on ebay and then to continue with my studies.
History of medicine with the OU, its fascinating!

Good night all, dolly x

NAEFAGS

Hi Dolly

WOW you doing well love all your meals yum
your ebay sales are top notch
keep posting and keep in touch

naefags
xxx :j

mum2one

Just found your diary, sounds like you've really done a lot in the last year with all the debt busting and the changes.

Sorry to be cheeky, (1st post on your thread), but PLEASE PLEASE don't get of the watch, you wear it every day, if it was something that was collecting dust, I'd say let it go, if it wasn't sentimental. But the watch would stand for such a lot, including how far you have come.

I would def look into bank charges, ppi reclaiming etc - go back the last 6 yrs, when it originally came about every account I claimed on paid some form of money back, only got scary on one when Barclaycard dug their heels in, till 2 days before the court case. My PPI on an old loan is out of the 6 yr otherwise I'd of tried.

Use the templetes as the way I see them, is what might take me 25 words to do, they say in 5.

Got to be nosey what studying are you doing, I'm studying with the OU, got Health, fitness and mgt course, half way through just start business strategy 2mor, (1st chance had), I find the studying gets addictive.

Def agree re setting the price limits, I tend to hit Boots sale usually try and wait for 75%, but this time gave in and went for 50%, got a lot of presents from there, also regifted, but always do 100% check ur not giving to the same person, sales throughout the yr, I had a little note book with who got left to get for, take that on hols, always seem to find more bargains.

This year, planning hit Vistaprint - as they offer free items, and you pay postage, once you have ordered they send you offer emails, we've used them for 4 yrs for calenders at xmas, cards, and different things, also if you go through Quidco, - they give you £2.50 back, once per month, and Topcashback, they give you £5 per month, even if you order the free items, good thing with both those cashbacks you can have more than one account.

Haven't got it to hand, but if your not offended pm you a link for free items. be 2mor.

You sound organised with presents, but I do a Christmas thread, Santas challenge, try and plan things through the yr, and theres a sister thread money neutral, where we try to make additional money by challenges, everyone is great on there. More likes a girls getogether - without the wine.

xx