Do you feel fed up?

Rocket1971

Just having a "down"moment looking at my snowball list of my credit cards and so regret not taking stock of my situation earlier.
I had six totalling £20k of debt starting 2009.

Now down to £16k with another one due to be paid off next month reducing debt to £14.5K.

I have managed to save £50 per month for christmas this year so that is a plus.

I feel elated when I pay off a bit more than my monthly payment but at times feel angry with myself for getting 2 defaults on my file which have shot my credit rating to bits until they drop off around 2015!

I have 2 Son's who I now tell all the time to "save" whatever money they receive for gifts.

Oh how we learn albeit the hard way, just seems like it will never end, I don't want to wish my time away but cannot wait for 2015 to swing round when all debts will be paid, defaults with be gone and I will just have my trusty bank account which is really all I needed in the first place just got carried away with the spending

Hightower13

Hi Rocket1971. I'm feeling the same tonight I think most people with debts have good and bad days. Try and stay positive - you'll get there in the end!! (I think I need to take my own advice lol)

Tixy

Rocket1971 wrote: »

Just having a "down"moment looking at my snowball list of my credit cards and so regret not taking stock of my situation earlier.

I think we all have down days. But at least you are tackling it and are reducing your debts now - imagine if you'd not changed things in 2009 it could be £25k or £30 by now.

Well done on the reductions you have made - you'll get there! Have you got a predicted debt free date?

Rocket1971

going by my snowball calculation June 2015 but my job pays a bonus twice a year, it is a good amount so will put some of it to debt, retain the other for emergency fund should we need any cash for essentials etc.
A lot happened in the past 5 years, lost both parents, am an only child but married to a great man and we have 2 fantastic children just annoyed when I see the money going out each month paying off credit for which I have nothing to show. Huge lesson learnt by this.

Rocket1971

Have to say though this site and its members have been fantastic, try to log on at least once a day now

Butti

So Rocket yes your debt was getting sizeable but then it's not as big as that of the USA or the UK, and by next month it will have about a third of it paid off.

You have a husband, lovely kids and a job. At present I have none of these. So please count your blessings and don't beat yourself up too much.....and keep your fingers crossed for my next interview.

B x

turbo.jet

Of course down days are to be expected but don't lose hope. The amount of debt reduction you have achieved so far is massively commendable!

Don't worry about the defaults on your credit file - you don't want to apply for any more credit anyway do you? If and when you ever do they'll have disappeared. (I'm guessing here, don't know that much about your personal situation)

Regarding telling your kids to save, I did a couple of TV adverts when I was a kid. I made a fortune (for a kid) especially because they kept playing on of the adverts for a long time so I just kept getting unexpected cheques in the mail. I WISH my parents had taken control of the money. Or at least half of it. I probably made about 3-5 grand, that's a lot of money for a primary school kid. I could have had a car when I got my license, or a house deposit, and maybe would never have gotten into the situation I'm in now. Instead I frittered it all away on McDonald's and CD's and just nothing really.

Sure, I'd have resented my parents for it back then but would thank them for the rest of my life. I'll never hve kids but if I did I'd definitely look after their money for them until they were 18.

DerryLane29

Rocket1971 wrote: »

Just having a "down"moment looking at my snowball list of my credit cards and so regret not taking stock of my situation earlier.
I had six totalling £20k of debt starting 2009.

Now down to £16k with another one due to be paid off next month reducing debt to £14.5K.

I have managed to save £50 per month for christmas this year so that is a plus.

I feel elated when I pay off a bit more than my monthly payment but at times feel angry with myself for getting 2 defaults on my file which have shot my credit rating to bits until they drop off around 2015!

I have 2 Son's who I now tell all the time to "save" whatever money they receive for gifts.

Oh how we learn albeit the hard way, just seems like it will never end, I don't want to wish my time away but cannot wait for 2015 to swing round when all debts will be paid, defaults with be gone and I will just have my trusty bank account which is really all I needed in the first place just got carried away with the spending

Rocket I think youve done amazing getting your debt down and yes its going to be for a while longer but your almost down to 14.5k and that is very good indeed.

Plus your saving for Christmas:beer: I take my hat off to you,well I would if I owned a hat.You,ll get there in the end we are all sure of that so pat yourself on the back and congratulate yourself.
We all have down days,I think were allowed a few of them.Big (((hugs)))) for doing so good.

determined_new_ms

aw rocket I know that feeling - I've said this so many times but this debt repayment marlarky ebbs & flows, sometimes its a buzz seeing it reduce, being resourceful & creative and sometimes its a beyyacth. We've cleared our debt now but I still remember vividly the week in Nov 2 years ago when I came home and found my oh crying on our bed - it had seemed that as far back as we could see we had been paying off debt & going without & could only see much more of the same in the future - I bolstered him up, rallied his spirits. 2 days later he came home & it was me.

Take heart though, when you get to a certain point in the process it goes so much quicker because you can really throw some cash at it & the interest rates are minscule. good luck x

cattyboo

Everything is so simple with hindsight isn't it! There's not point wasting time with "what if I'd" and "if only I'd", I'm sure we could all do a lot of that! The thing that matters most is that your head is out of the sand and you're progressing, really well by the sounds of it, in the right direction. You've cleared loads off your original total already, that's amazing! :T Be proud that your dealing with debt instead of making it worse :money: you're never alone here :beer:

Focus on the positives, and keep going in the direction you are, you'll get there :j

Love C xx

dell33

Constantly, regret at how we got into this situation, fear of what the future holds & sad that DH & I are at such odds about our situation & what the future holds.

On top of it all I live in Ireland where things are dire at the moment, unemployment is running at 15%, every morning you turn on radio and hear about more job losses, no new jobs being created, all the younger generation are emigrating.

My life plan always was to be a SAHM & when kids were older return to the work force, can't see that happen any time soon.