wot-a-mess debt crisis

wot-a-mess

Iga & Chev

Many thanks for u're posts.

I thought it would be another sleepless night last night tossing & turning... but slept like a baby & after being out for a run (jog) in the countryside today feel much much better. Think I probably put too much pressure on myself looking at trying to plan to get the debt clear quickly when in fact being totally realistic it's really probably gonna take about 4 to 5 years. But I dont want us to have to do nothing & sit in looking at 4 walls 365 days a year either just to clear debt so it looks like a very balanced longish-haul approach is required.

Deep down I think it's the Xmas thing looming that's getting me down cos I can see £500 being wiped off the debt every month but then along comes Xmas. Should change my name to Ebenezer

Ebay really does not float my boat but I will defo have a serious look at it next week

ani*fan

I'm glad you're feeling a bit better today. A good sleep always helps.

Don't forget eaby is good for buying things cheaply too. I'm after a new pair of shoes for work and could find nothing in town for less than £40. I'm about to bid on a pair on ebay for £7, brand new. Can't go wrong.

I could see my debt going down by £400 a month until a huge unexpected car bill came along. Then christmas. Then I'm sure it will be something else. Only just waking up to my own long haul and it takes some getting used to. I wonder if this is the next stage after the light bulb moment?

There are ways of keeping life interesting on a budget. I'm nowhere close to figuring out what they all are yet but I've discovered socialising at home and in friends houses rather than going out so much, and car sharing much more than I used to. It's a real challenge but you can do it.

It's going to be wonderful when we're all debt free. I can picture it now. I probably won't know what to do with all my mountains of cash. :rotfl:

wot-a-mess

Hi Ani

Thanks for dropping in. The reality is looks like I'm gonna be a long-hauler.

Need to pretty frugal this week until payday. Don't aim to spend much at all - defo under £5 'til Friday. Have done an outline budget for next month & some unavoidable extra expenses are due in Nov. so probably only gonna shave approx. £400 from the debt in Nov., which is a bit disappointing really unless I can earn a few extra £s on surveys & get some vouchers.

So the main challenges for this week:
1. Spend as little as possible
2. Make some extra £s
3. Try to remain positive
4. Exersize at least 4 times

For Nov.
1. Keep to strict, but realistic budget
2. Earn extra £s, vouchers, etc.
3. Train hard (Running & Gym)

Altho it looks as tho we have a financially challenging few years ahead I don't wanna wish our lives away plus we still should do a bit of living BUT within our means.

I write everything down now which is a great help & also feel much more in control of the situation but money is very tight indeed but hopefully it shall ease a little after Xmas.

Best of luck to all you debt-busters in the coming week

scotdebs

Hi WAM - I think there are more than a few of us that are here for the long haul! But we can keep each other going and have one hell of a party when we all eventually get debt free!!!!

wot-a-mess

Hi Debs

I know it looks like a very long haul for many of us. Reading thro a multitude of diaries on here during the past few weeks I think it's important to keep disciplined, keep on track & not to give up & go back to the bad old spending ways.

wot-a-mess

Monday again. Can't wait 'til payday.

Been looking at some debt websites this morning & it seems a common theme that debt repayments should not be more than 20% of net income. This shocked me :eek: but then realised that when the bank loan is cleared next April I won't be too far off that figure. Bank loan is currently 1/3 (33.33%) of monthly debt repayments. l shall then hopefully have a large wedge to throw at credit cards & get 1 cleared next autumn.

Hate wishing my life away but I really need to see some light at end of the tunnel for motivation & "this time next year" 2 debts would be cleared. So gonna add these 2 debt targets to signature.

"This time next year" we'll be millionaires Rodney (mange tout, blinding, etc.) :rotfl:

Igamogam

Lots of positivity WAM - well done

wot-a-mess

Done a few surveys this week & £6 earned. Shall add to signature when £s received in bank a/c.

Spent £3 yesterday but can see 3 "no-spend" days this week. still have not used any credit cards since LBM:grinheart

Kepp

Glad to see you more positive WAM

The realisation that it's going to be a long haul is harder than the LBM I think - took me about 6 months to get to that stage!

When I first set out debt-busting I honestly believed that I would somehow manage to pay it all off in a year

It gets easier though I think and the more you do it the better you get at it - those first few months I managed to pay about £350 a month off - now I average £1,100. I think it's practice

wot-a-mess

Hi Beccie

£1,100 per month WOW indeed. Fantastic :T

I think you are right about the LMB & long haul theory. The fact I can now see a wee bit of light at the end of the tunnel next spring time is certainly helping. Plus some reality is required in what is realistically achieveable.

Next target: To get "debt reduced" to £1,000 +