301k in debt and morbidly obese - things aren't great!

MrBloater

Stupid Stupid Stupid! Got my debit card refused today at closing time at the post office (meaning I had to do a mental dash back home for some cash or all my ebay parcels would have been going nowhere) and then found out a direct debit (thankfully nothing important) has been returned cos I hadn't accounted for my fuel spending or a hangover shop at the Co-Op on Saturday. Had been doing some juggling with Paypal and thought it was all covered but it wasn't. Lesson learnt. I cannot have any traces of complacency - this month is going to be hard graft as there's nothing left in the pot til I start filling it again.

miggy

Don't beat yourself up - you sorted it out and the Ebay stuff has gone, and what's more you found where the problem was and it won't catch you out again. Result.

By the way, I wonder how many people had pizza this evening just because it's been talked about here?

Polly_Wolly_Doodle

Morning B, does this mean there are direct debits that could be cancelled to help kill the debt?
Have a look through your bank statements and do a list of what and when money comes in and goes out. I have a really basic cashflow spreadsheet, just a few columns:
Date: Description: Amount: (+ or -) Cumulative total:


and it keeps me on track as things are very tight for us, you can view it as the Cresta Run for adrenaline!
You need to populate it with figures for the next few months ahead and put in lump sums for food, wine, gas, birthdays etc to see what available cash you really have and then put the actuals in as you know them. HTH.

Karmacat

Ouch. Good for you for *doing* the mental dash, and then checking up on what was going on. Y'know, MrB, your incomings and outgoings don't sound like they quite match yet ... I know you're mad busy, but check it out and let us know the total, hey?

MrsMoo2U

Most people have been there Mr B (even when they dont have debts) so you are normal. All you need to do now is what the lovely people above suggest and get those figures primed to within an inch of their lives.

MrBloater

Stupid Stupid Stupid pts 2 and 3 - I cannot believe the shambles that this whole endeavour is turning into, have just found out that a credit card was over its limit, hadn't seen that one coming as the last time I used it was a while back but the interest just tipped it over, and then to compound things, a paypal transfer I made was pretty much wiped out automatically by the ebay fees coming out. Far from stepping back from the edge of the precipice I appear to be greasing myself up to ensure I effortlessly glide into the abyss. And as for the running - forget it! - I'm way too stressed to be able to get myself out on the streets at the moment. I need to take back control of the finances as at the moment they seem to have taken control of me.

miggy

Sorry you're having such a rubbish day - it all seems to be out to get you at once, doesn't it. I had forgotten about ebay fees - they can sneak up on you and you aren't the first to get hit by them. The one drawback of getting a decent price for things.

As for the cc - evil.

Regarding running, I was a bit concerned you might try running and end up breaking your neck on black ice. Take up boxing maybe and take out the stress on something inanimate, then come back with a Plan. I think you said you didn't want to do an SOA, and fair enough, your money's your business, but if you want advice on specifics, this is the place.

Sadly I'm not the one to give financial advice, my main mathematical talent being to fail exams, but the good guys will be along in the morning to coach from the sidelines.

And you'll get through, because you have brains, initiative and dedication and what's more you have Mrs B and the kids on one side and us on the other.

thevinternet

miggy wrote: »

And you'll get through, because you have brains, initiative and dedication and what's more you have Mrs B and the kids on one side and us on the other.

Well said Miggy.

Mr B, is there any chance that you or Mrs B could try applying for a 0% CC to shift some of the debt over? Apologies if you've already talked about this in the past.

Karmacat

Yep, well said, Miggy.

MrB, lay it all out in the best way for you - spreadsheet, paper, whatever. Keep a list!

The way ebay take fees is weird, isn't it ... I understand its efficient for them, but really puzzling at first. It *doesn't* mean you've lost the plot, okay? It just means you forgot. Address that, with the credit card as well, and you're back on track.

Do you need to set up automatic payments while you still have this number of credit cards?

Lara44

Don't worry, MrB there are slips on this journey as any other. And this is a minor but frustrating one. This is an especially hectic time of year, my head's all over the place.

It still seems like all your extra money gets hoovered up each month and not snowballed which suggests you're still living beyond your means. You need to do some structural work on your budget. Or if your budget figures don't match reality get a spending diary. It is a pain but you really need to address it. If you can't bear to post your SOA (I never could) then just look at other people's and take on board the advice they have been given.

Your posts are really wonderful MrB and I think you brighten up our days on MSE, I hope we can help you back on the exercise and debt busting wagon.