Finally facing up to it...

lynzpower

How much do you owe to additions and whats the APr?

Idiophreak

Just wanted to add that I've never found any of my friends (or coworkers) judge me because I say "I'm skint" when I can't afford to go out.

Heavenandhelen

lynzpower wrote:

How much do you owe to additions and whats the APr?

Sorry should have made that clearer - it's a barclays graduate additions account and that's the monthly fee, it includes a fee-free overdraft of £1000.

Idio - I don't think they'll judge me, but I do have to go to a certain amount of events for work. I suppose I could give up having a drink when I'm there (though it comes in handy when talking to certain clients - yawn!).

Bestthingsinlifearefree

Could you move back home or some where cheaper e.g shared house ?

immoral_angeluk

There are 2 things which instantly rings alarm bells for me.
1. £60 phone bill. Is that landline and mobile as that's a lot of money for 1 person and you can cut this down.
2. £125 for household/food. What exactly does this include?? If it's food and toiletries than you can seriously cut this down. We spent £150 a month for 2 adults and a toddler in nappies!!!!

Please please PLEASE don't use anyone like gregory pennignton. They'll pay literally pennies to your creditors, ruin your credit history and charge you a whacking great fee in the process. If you're seriously considering a DMP then CCCS or Payplan are the way to go.
As others have said it comes down to 2 things, either spending less or earning more. Start a spending diary and see where you can make savings on every day things like work meals etc and every £1 you save will go a long way.

Heavenandhelen

Thanks guys - I'll start my spending diary today (so far 44p for milk and £2 for a marks and sparks salad) and see where I fritter all my money away, then I can really see where I can cut back!

What does eveyone set themselves as a realistic weekly budget for socialising/luxuries?

jezebel

£2 on a Marks and Sparks Salad - I'm assuming for lunch at work (?) Make sandwiches at home, it's a lot cheaper and you'll save about £10 a week this way (assuming you buy lunch every day). That could be up to £40 a month right there

I think what others have said about groceries is true, try to cook from scratch as not only can this be cheaper but you get enjoyment at cooking.

When going out, try to get tap water to at least space out drinks - a lot of places don't charge for this. If you still have to drink go for soft drinks or if you really need the alcohol switch to pints (lager/Cider etc) if you are on the more expensive drinks. I have a social budge of £10 per week (or £40 per month) and generally can stick to this as if I have a heavy weekend (ie go out a couple of nights) then I have a stay at home weekend the next weekend and watch TV/DVDs etc.

Verbatim

Hi and welcome,

Not sure what the answer to your last question is. Our income and expenses fluctuate. I try and cut down on the things which aren't so important to me so the available money for luxuries can go on what I love, meals out and the occasional theatre trip. This year the £10 Travelex season at the National in London has been a boon.

What I'd recommend is the meal plan and shopping list routine. Only buy what you need to cook those meals and always eat breakfast before you go out and always take lunch. If Starbucks or similar is your thing allow yourself one trip a week or whatever works for you and keeps you motivated. For me although I don't enjoy cooking all the time I have to anyway as we now have foreign students to help with the finances and I can feed 5 adults well and cheaply as long as I put in the time. And then I spend any extra on going out. Many DFW's would frown at that and put all available extra cash off the debt but I don't feel I have so far to go now and I need some treats to keep me going.

TOBRUK

Hi Heavenandhelen,
You can get great help and tips from the Moneysavingoldstyle forum on budgeting especially food budgeting. One question, can you cook? You have stated that you spent £2 on a Marks salad today - do you buy your lunch out every day? Perhaps you can take a packed lunch to work - you will find a big difference in your budget! Also, if you organise yourself and make a meal menu for the week, cook from scratch and buy your groceries with your menu in mind, you will not only save money but you will have less waste. It takes a little getting used to and a bit of time to work out but it is worth it.

I always take a list when I go grocery shopping and stick to it - don't get tempted to buy extras.

I also budget by appointing myself a weekly amount of money I take out - I allow myself £40 a week to spend which I take out every tuesday or Wednesday and stick to it.

emzig123

Hiya, well done on the SOA. Just a quick note for you about the contct lenses. I've just been on Quidco (https://www.quidco.com) which is a cashback website and they are offering 20% back on visiondirect.co.uk purchases. Quidco itself is very useful, youget cashback for everyday purchases over the web and you can often get loads back for things like insurance switching and energy suppliers etc.