Think I've hit rock bottom...

Angel84

I've been on here a while. I've done my SOA and I've never posted it. I should have about £260 left a month after all my outgoings and I can't account for it. I have started a spending diary and that seems to be going good. But this week has highlighted that my job might not be secure. I don't like my job but right now it's paying the bills and keeping my head above water. I've been under a lot of pressure at work anyway and recently have been having chest pains which i'm sure is anxiety or something. And today, I could cry. I've considered all my options and to be honest I don't know what to do. I have a snowball spreadsheet to work to and the SOA and spending diary. But somehow all I can see is how far away my DFD (Dec 2013) is and how much left to pay and what happens if I lose my job! I'm not shy of work so will happily do any job as long as it's money. I'm just so terrified right now. I don't know what to do.... I've been thinking of getting a small loan to consolidate so that i'm only paying one person a month instead of 5 or 6....but then it's more debt. I don't know what to do!

findingmyownway

Firstly... calm down, make a cup of tea and be proud of yourself for posting!

There is lots of help available on here. Can I ask why you have never posted an SOA? Maybe now is the time to open it up to the forum and see if we can help, sometimes 'fresh eyes' can spot things you can't.

Consolidating is rarely a good idea, but without knowing the full situation I can't really offer firm advice.

Well done again for posting, come back soon.

Angel84

I've never posted because whenever I've done the SOA the gap of £260 a month is obvious and I can't account for it. I thought if I could do a spending diary to see where it goes it would be clearer. Plus, I live with my b.f and pay him rent but our money is kept seperate which would raise lots of questions with regards to the figures I enter. I don't pay council tax, water, insurance etc. My wages goes on petrol, food and debts...I guess I'm just embarrassed about how much of a mess I'm in and don't feel like I'm getting anywhere! Sorry for rambling...

findingmyownway

It sounds like a spending diary is a great idea for you then.

With regards the food spending, the old style board has some great threads and ideas where you could cut down how much you spend.

There's no need to be embarassed in here.

FireWyrm

Angel84 wrote: »

I've never posted because whenever I've done the SOA the gap of £260 a month is obvious and I can't account for it.

As a wise man once said, "when eating elephants, proceed one bite at a time". In other words, stop worrying about the big picture and concentrate on a known goal first. You know that you *should* have £260 a month and you do not. Your first goal for December is to begin on Dec 1st and record EVERY transaction you make, no matter how large or small. Your second goal is to obtain the last 3 months statements from your bank and go through it with highlighter pens, crayons, pencils or whatever works and analyse the hell out of it. You want to know the following :

1) Every DD
2) Every 'ATM' transaction
3) Every unaccounted for or unknown 'card' transaction
4) Every debt repayment

Once you know this, build a spreadsheet, download a phone app (again, whatever works) and input *projected* costs for the next month. At the same time, you'll be maintaining a spending diary.

My guess is that when you analyse your statements, you'll find your £260 a month and more besides is spent on *things* that you dont even remember buying. This stops immediately. When you go out, leave your card behind, only withdraw the amount of cash you need for the week based on your 'projected costs' above and think carefully before you buy anything, even a sandwich. Think, could I have made that at home, for instance.

Angel84 wrote: »

...I guess I'm just embarrassed about how much of a mess I'm in and don't feel like I'm getting anywhere! Sorry for rambling...

Stop being embarrassed. We're all in the same boat to a greater or lesser extent. If everyone is naked in the nudest colony, there's no point being embarrassed about being naked, is there?

Catslovelycats

Angel84, I know exactly what you mean about 'missing' excess money.
I've recently downloaded an app for my ipod in which I record all my spending.
It's really helping me to see where my money is going and I'm now setting myself some strict budget limits for those 'treats' that I but myself too often!
Once you start to see where your money is going you'll feel more able to take control of it.
It is doable and the fact you've posted is a positive start, so feel relieved and proud that you're doing somehting about it.
We're all behind you.

(I like the elephant analogy that someone made!)