Don't want to carry on 'sorting it out later'

mildredalien

I'm in a similar position to you - have debts (although rather larger than yours!) but I am able to make payments and savings for a holiday without getting into MORE debt. And I am also terrible at keeping track of what I spend!!

Rather than keeping a spending diary (I just know it's not going to last...) I now tend to take out cash at the beginning of every week and only spend what is in my purse. It doesn't work all the time, but this month is the first month in a VERY long time that I actually had money left in my bank account at the end of the month rather than scraping through every penny!

From your SOA you have enough money leftover to spend on 'non necessities' - is your worry that you spend this money rather than putting it towards your debt, or that you are still spending on credit cards and spending MORE than your leftover and building up debt?

backinbusiness

Sounds like a little flicker of the light bulb to me rather than full on light bulb moment just yet.

Better to sort this now, whilst you can before circumstances dictate you can't - life is unpredictable!

I was like you, could service my debt, etc - then ex's little indiscretion(!) put an end to joint finances, and the proverbial hit the fan!

Two years later I am free of debt and building up savings slowly and surely.

Manageable debt or not, if you can get it off your back life is so much simpler and relaxing!

Good luck OP

bib x

Amanda666

Hi, thanks for the replies.
Kate - yes my npower bill is £15 a month for both gas & electric. I have to admit to being very good at switching things off and the heating has been off since Feb and will not reappear until November. The £120 dual fuel discount does help to keep the cost down and its worked well for me for several years.

Mildredalien - I think that the problem is that I know that I should be able to live quite well and not use credit cards and can go for a period of time being really good and then I just lose the plot!

So this morning I have attacked my savings and paid off all of the credit card debt. Its payday on Friday and I will then know where the overdraft is ( I think that it will be nearer £200 and not the £400 in my SOA). I will then use more savings to level off the current account.
I have re looked at what and when I spend and have decided that I am going down the cash only route. So I will take out the food, petrol, entertainment and presents budgets and then when its gone its gone. I think that I work better in cash as I hate handing over notes and have little concept of cost when using a debit card.

So all that remains is to last till Friday with the £35 thats in my purse. That should be ok as the fridge is full, I doubt I will need any petrol and other than a cheap curry on weds and the exercise class on Thursday (so approx £15), there is NOTHING THAT I NEED.

Thanks for all of your advice, I just want to start to feel comfortable managing my money and knowing what I'm spending.
A.