Where do I start?

geek83

Well I think I've had what some might call a lightbulb moment so here I am on here trying to find some supportive folks in similar situations who might be able to offer their tips...and hopefully some inspiration!

To say my finances are a mess is an understatement but I'm so determined to get myself sorted. I think I have about £12k of debt, but I'm still sifting through the mess getting up to date figures.

Basically the debts were racked up in a previous relationship and over the years I've managed to dodge most of them and shift from payment plan to payment plan, making small payments when I could. I have been a single parent of 2 children and at university for 4 years...needless to say its been a struggle. But hey ho, there's the sob story...I'm not making excuses, just explaining why it went wrong and why I haven't been able to sort it.

I now have my own business and am able to pay my bills and get by ok, and my aim is to be debt free by the end of next year. I am 100% committed to becoming debt free.

So where do I start? How do I sort through the mess?

rising_from_the_ashes

Welcome to the boards - you've done the first bit by posting on here!

Next, I'd suggest completing a Statement of Affairs (available in sticky thread at the top of the board) - this will let others see your income/outgoings and you'll get loads of advice on where you may be able to save a bit. It's often easier for others to see where we go wrong than ourselves!

geek83

I've actually already sorted a budget, and I have approx. £500 of disposable income a month. I'm quite good at budgeting these days, but its only been recently that I've had a disposable income.

I've been living within a budget for years, but I just need advice on how to prioritise debts and some of the legal matters. Is it worth getting a debt advisor on board?

elaine12022

Why not post the details of your debts here? There are different ways to prioritise. Have you got the exact figures yet?

ms_london

Hi Geek

Perhaps if you post a SOA (statement of affairs) the MSE good folk can give suggestions of ways to save more money, or improve your budget, perhaps that you have missed yourself.

If you run a house I would suggest popping over to the Old Style board too, my next favourite board after this one ;0)

All the best xx

rising_from_the_ashes

geek83 wrote: »

I've actually already sorted a budget, and I have approx. £500 of disposable income a month. I'm quite good at budgeting these days, but its only been recently that I've had a disposable income.

I've been living within a budget for years, but I just need advice on how to prioritise debts and some of the legal matters. Is it worth getting a debt advisor on board?

I appreciate you'd done your budget but for people to be able to advise .... I'm afraid we really do need to see the SOA ....

As it shows your income, expenditure (where there may be easy savings made) and list the debts, interest rates etc.....