I am going to sort things this time round

*hayley*

After a failed attempt at clearing my overdrafts last year (I did clear them and went back into them again) I really want to do this.

I feel really silly posting as it's not a massive amount of debt but it stresses me out everyday as I want to save for my own house (currently living with parents - this is a complicated story)

I don't have a massive amount to pay out each month and a lot of my debt is from buying things for myself, over indulgence if you like I guess. I have given up buying clothes of any kind for Lent, I have a bulging wardrobe and am thinking about selling some of this on Ebay. I'm actually quite a good Ebayer selling wise but a lot of my profits I tend to spend buying stuff on Ebay so it's a vicious cycle and I end up feeling frustrated at the end of it.

I'm going to figure out how to put my totals in my signature later when I've checked all my bank accounts. I keep using one of my bank account overdrafts (the account where my wages go in) to pay off the overdraft on the other one plus my credit card bill. It is working but it's slow progress and that's what makes me lose my motivation. So although this account is in credit now it won't be by the middle of the month as I'll have used it to reduce the other debts.

So I owe around £3500 but will know more precisely when I look at all my statements together later. Thanks for reading guys Any tips would be much appreciated, especially with regards to shopping. I counted up my shoes and I actually own 25 pairs (which makes me feel rather ill looking at them), they have all been worn so I know I need to wear these out BEFORE buying any more

backinbusiness

hello and welcome

would be worthwhile posting up a proper soa (statement of affairs) so that others can advise as to where costs can be cut.

good luck

bib

*hayley*

I did think about that but I need one that doesn't account for rent/mortgages or bills. I do pay board to my parents but it's actually a measly amount a month (admittedly its £40). This is why I find my debt so embarrassing really, because I hardly have to pay out for anything except overspending it on myself. That's why I feel awful when I see other peoples SOAs and see how tight they have to run things.

*hayley*

I am also keeping a spending diary to see where it goes

lvm

Is 25 pairs of shoes a lot? Us girls need our shoes!! I'm embarrassed even thinking about the state of my shoe cupboard now!!:eek:

*hayley*

Well I did think that but bearing in mind I have 10 pairs of "going out" shoes but because of my job I'm lucky if I go out once a month, and when I do I wear the same pair The others are just gathering dust

andrea1968_2

The way I found to stop spending was to stop shopping, for me it was the only way. I could go out with good intentions and was only going just for something to do and then I would find myself in the queue to pay with another pair of jeans in my hands.

I took my cards out of my purse and cut them up, because plastic isn't real money until it comes to paying it back and then its all too real.

You might have more will power than me but that was the only way that I could stop. I had clothes in the wardrobes that had still got the tags on that when I tried on again I didn't know why I'd bought them, and more bags (I'm not a shoe girl) than I could have ever used.

I sat down one day and got out all my credit card statements and it frightened the life out of me. Paying bits here and there on different days didn't really register and it wasn't until I had them all together in front of me that I realised what mess I had got myself into.

It took me 5 years to sort myself out and even now I still try and avoid the shops because I still don't trust myself but I think of the that day when the lightbulb came on and the penny dropped and it still scares me that I was that person.

Admitting your mistakes is a massive step in the right direction and whether the amounts are small or large it does need paying back and there's no fun in that so the sooner you start the sooner you'll get back on track.

Good luck

sazzel_2

*hayley* wrote: »

I am also keeping a spending diary to see where it goes

This is a really good idea! I had slightly similar problems with spending to you... and just having the spending diary and literally having to write down everything... stopped me from buying so much! It made me realise how much I was actually buying that was totally pointless!

chevalier

Whilst i know that it isn't the point. But I hope once you are debt free that you start paying your parents a decent amount of board. I was paying more than you do a month twenty years ago and I was unemployed at the time!

but as for the rest. I found that having something to save FOR, was a good motivator for not spending. Eg do you have a dream house? One that you drive past everyday that you think 'if only'. Well take a picture of it and put it in your wallet with your cards. Then whenever you feel like splurging you will see the picture and remember just why it was you were meant to NOT be shopping.

Ref the clothes are there any from the last 60 days or so that you could take back? Also are there any of the things with tags on that you could use for presents?

good luck with your journey. Better to sort it out now than later
chev

Hannah_10

A bit of encouragement for you... You realised that you were in debt before and you paid it back before you got into debt again. If you had not done that how big would the debt be now? It's not just the debt figure then plus the debt figure now that you have to allow for, it's all that time you would otherwise have been running the debt up for but instead were repaying or living within your means. You have aquired good solid skills because you have repayed a debt before and that repaying and debt clear period probably saved you thousands. You can do this, it's easy really, it's just walking through the same old steps one at a time. Eventually you will level out with a lifestyle which is within your means to sustain. None of us can change the past, only learn from it. What you have already learned is valuable, figuratively but literally too.

daviesalie_2

Hi Hayley

How about setting yourself a list of small targets, rather than one big one? That's what I've done and everything seems more manageable and achievable now.

I'm a massive impulse buyer (I'd like to say "I was an impulse buyer" but 2 years on and I still have to smack myself on the back of the hand sometimes), so to try and ease the 'craving' I've allowed myself a reward as soon as I can tick off something on my target list, but it has to be something I NEED not want!

Also, plan your budget months in advance, even after you've paid off your debts, concentrating on how much you need to save per month for your deposit. You'll soon learn that spending an extra £50 one month has repercussions the next month and so on.

At least you know that it can be done because you've done it before - budget, budget, budget and once you've cleared your debts allow yourself a reasonable amount each month for clothes, etc. Also, set up standing orders as soon as you get paid, so once its gone you can't spend it.

Good luck!