New here

shoe1206

Hi

I have lurked on these boards for about a year and have put my head in the sand for long enough.

I don't really know how much debt i have - about £20000 . But my new year resolution is to manage it a bit better. I do a lot of things mentioned on this board already. some of my debt is on 3.9% M&S credit card and some is on 0% for 6 months with mint. My main problem is the debt is so huge i can't see and end to it so try and ignore it as much as possible. I know i need to write it all down and do some kind of budget. Posting here is my first step. Any advice will be greatfully received. Where do i start etc. Thanks

OberonSH

Hey there, and welcome. First off, follow the advice in the sticky t the top of this forum page. Sit down, write it all down, then add it up. Afterwards you write down your ins and outs, and then post it all here as a Statement Of ffairs (SOA). We can then all chip in and help you cut down. As a start, get a notbook and start writing down everyting you spend on a daily basis, helps keep track of your money.

See if there's any quick fixes - get everytiing you don't need on ebay or the small ads, change your credit cards if you can and then check if there;s any benefits you are entitled to.

Hopefully we can all help you through this, so stick around, it's worth it!

OberonSH

Oh, and if you feel overwhelmed - try 'eating elephants' - break it up into smaller chunks. I owe a shade under £40k, and saying it out load makes me curl into a ball and cry. But I aim for £1k at a time. Much more manageable.

shoe1206

thanks so far, really i just need a whole load of support. I know i need to do the SOA. Bear with me, I have put this off for a long time.... Will try and post later today. thanks again

Ali-OK

Hi Shoe1206 and welcome :wave:

You're right..you've taken a fab step in posting amongst us DFWs and you'll get lots of support, help and advice. If you can get your SOA together (see SS's sticky up top for format, etc) loads of people will be along to see where we can help shave those outgoings.

Well done on getting low LOB and 0% rates too, saves a good chunk on interest.

Have you had a look at the snowball calculator at https://www.whatsthecost.com ? You input the number of debts, the amount you can afford to pay per month overall and it'll show you the order in which to pay them and give you a DF date.

Hope to see you around lots too - everyone is really friendly and there for each other.