I'm back - and I mean it this time!!!

RebornToBeRich

Well hello there.
Let me begin introducing myself.
I am a reasonably bright, reasonably sensible girl who for reasons I cannot quite fathom, seem to have gotten into a bit of a financial pickle. I earn a good salary (some would say very good) but somehow, and I’m not quite sure how, the money seems to disappear before it even hits my account. I have a very nice lifestyle (most of which is paid for on work expenses) but I’m no label junky, I don’t do the whole designer gear thing, I’m not into fancy cars or expensive gadgets etc. Although I do drink a lot of champagne :beer:
My weakness, my friends, are fancy restaurants, nice holidays, good shoes – oh yes, now it becomes clear... and that now has to stop.

Quite frankly, I suppose as I married so young I never really learned to balance the books, it was all done for me (partly as ex was a control freak, partly as I was happy to let him do it). However, after we separated it seemed that there were debts coming out of our ears (he was and remains a prolific spender) and I was therefore in the position of being almost 30, clueless and having to start again from scratch (well, worse than from scratch as I was clearing his debts from his earlier marriage as well as the debts from our 12 years together!) and raising two kids on a very basic salary. I took a 100% mortgage, borrowed money on credit to set up my home etc (learned behaviour, perhaps) and whilst I was always able to manage the minimum payments and pay a little more off each month, every time I got straight one of the kids would need something, the car would break down, uni fees would be due, yada yada yada.
Anyway, fast forward 10 years. I qualified into the profession I now work in, hence the improved salary, my kids are by and large self-supporting (as far as kids ever will be!), I have a beautiful home and a nice (albeit not extravagant) lifestyle. I have a rental property that brings in a good income, and I rent out a spare room to a friend. I am a very, very lucky girl. So, when I sat down last October and did a little totting up exercise and found that I owed the best part of £45k :eek: in various debts and loans, not to mention the enormous mortgages on my two properties, I almost fell off my bar stool. I immediately found this site and started trawling for info, suggestions etc.
I was extremely proud that between October and February I managed to reduce the debt by £7,000 to a little under £38,000 (on top of paying for Christmas and a short holiday in cash for the first time in my life!) simply by being a little more canny – I snowballed and got rid of the little bitty cards, I cleared out all the little bits of cash from here there and everywhere, claimed back my cash back on quidco etc, called in my tax over payments etc and generally had a proper review of my finances. I consolidated all my cards into one B’card interest free card and ebayed an item a day. I started up a little dress hire thingy to friends and family (I have a million evening dresses!) and just generally wised up. I was going great guns and on target to clear debt by end of 2012.

But then it all went wrong. Firstly, I hit a bit of a rocky patch in my relationship and just took my eye off the ball. Then – horror of horrors – my secret identity here on this site came to light and I was absolutely mortified! My debt is an entirely personal thing and I didn’t want friends/family/colleagues to know (obviously) and so I had to delete my posts and back off. Without the support of the diaries etc it all just fell apart. Since then I have only managed to clear another couple of grand so the current total stands at £36,687.36.
So now I am back with a vengeance. I have a new identity and renewed vigour and this time I am determined. I will be debt free!
Any support, encouragement, suggestions etc gladly received – I haven’t done a new snowball yet but will do so asap. Realistically I would now think the end of 2013 is more likely, but that feels like a huge defeat so I will start by giving myself a target of perhaps 1 June 2013. Let’s see how I go... Wish me luck!
E xxx

Woowoo

Yay I found you!

So glad your back, have missed you lots

At least you have still be clearing your debt and not adding to it, so don't be hard on yourself xx

RebornToBeRich

Thanks Woowoo - good to be back. Although I'm not going to let it be quite so all consuming this time - surely there must be a happy medium? Isn't there???

I haven't really added to debt, although the overdraft is not so good. I am on a deal with it so it doesnt cost me, and I guess therefore I am better off using that "free" money to pay down other items, but as the CC is interest only anyway it makes little difference really and I would prefer not to have the red numbers glaring at me off the expense sheet.

Anyway. Good start today - brought in breakfast and lunch so no spend today for me. haven't budget v well this month (what a surprise) so only £12 left in my "spending" account til Monday, and only £20 in my purse. Still, shopping all done so shouldnt need anything this week, and I'm expecting about 3 months worth of expenses once accountant gets back. Won't amount to much but maybe £100 or so - every penny straight to the card.

Finally - I cant seem to find the snowball thingy - can someone point me in the right direction? I guess I should face it sooner rather than later...

Woowoo

The snowball thing is on whatsthecost.com xxx

RebornToBeRich

thanks - on min payments i will be debt free in march 2015!!!!!!!!! if I carry on as I ahve been last few months I will be clear by feb 2014, if I get back to where I was in Feb then I am on target for May 2013. That's going to be hard, but do-able, I hope - but it means paying of £1,500 per month. Eeeek! Let's hope for a bonus this year!

Woowoo

You can do it, get ebaying again!

My current target is 'one day' lol

pennywisepoundstupid

HI RTBR, good to see you back, hope you are well and things are ok.

As Woowoo has already said get back ebaying etc and you will have your debt cleared in no time.

Ceniza

Welcome back and gooooood luck

**Kat**_2

Welcome back *subscribes* xx

Kepp

So happy to see you again, you have been missed!

Have of course subscribed x

RebornToBeRich

thanks all xxx

short post today as i'm afraid ive done myslf a mischief so only one arm available for typing!!!! off to hospital shortly - hopefully they can strap me up or something and give me something for the pain.

good news is no spends yesterday, bad news is that i couldnt make lunch today :-(

catch yas later x