Help! I need somebody...

streety

Current debts
Bank overdraft @ around £2000 (£30 charge per month)
Bank loan @ around £2000 (£125 per month)
Mum & dad loan @ around £1000 (£300 per month)

I am looking to clear my debts so I can finally move out with my girlfriend. My current salary doesn't clear my overdraft every month and I am finding it hard with living costs, to get out of it.

What would be the best thing to do to be debt free and able to start saving for a house deposit?

McKneff

Every time you pick up somethin to buy it, ask yourself 'Do I really need this'
Most of the time you will put it down again. Whatever you have got left
at the end of the month pay it off the highest interest borrowing.

ellesbellesxxx

If you post your SOA (Statement of Affairs - sticky on main page) we can advise you where to make cut backs - there will be a way!

streety

McKneff wrote: »

Every time you pick up somethin to buy it, ask yourself 'Do I really need this'
Most of the time you will put it down again. Whatever you have got left
at the end of the month pay it off the highest interest borrowing.

Yeah I have been stopping those impulse buys. Down to one pair of jeans and trainers! I'm not sure where it all goes!?!

Hannah_10

If you don't know where your money goes you need to do a spending diary. This means you write down every penny that you spend, starting right now is a good idea, any old bit of paper will do. Include everything from a packet of chewing gum to the car insurace, prescription fees- the lot.

Also you do need to put up an SOA because with it we can see what your situation really is, without it we're offering our best guesses.