Advent-ures in the MSE Forum... Our Advent calendar is live, helping you discover a new corner of the community each day. Visit the homepage and scroll down

Never the first light bulb moment is it? at the peak...

edited 28 November 2011 at 8:29PM in Debt free diaries
4 replies 877 views
Sonic_The_HedgehogSonic_The_Hedgehog Forumite
15 Posts
edited 28 November 2011 at 8:29PM in Debt free diaries
Hey all reading,

Well About 2 years ago after watching young folks in debt on TV programmes I joined, not a lot was happeneing so I went back to my expensive collecting hobbies... old cars, cycles/bikes, junk etc etc... You guessed it I'm in a worse position now, not to be dramatic it's gradual but a story you probably know well thats added 1000's over the last few years.
Luckily I do have things to show for it, they are not worth the debt but better than seeing nothing, and my partner and I took the brave and bold move to buy a house last year after being forced into renting too long, so not all bad specially as reasonable deals were about, but the pressure specially in the current doom cloud climate is really getting to me now. :(

I graduated university in 2000, it was a Media Technology course and not a great one, I was keen to get into creative production/TV but failed, unprepared for the crazy world of posh kids and who ya know not what ya know. Working part time and temporary I managed to pay of my Student/Graduate overdraft and credit card. This amazes me now!
A few more tight real years paying as I go... then after a business start up course I decided to go for it and buy my own production equipment on 0% plastic and get started on may days off from my dead end stop gap shovelling sand and bricks about! Pro camcorder and edit suite, and microphones bought, it was starting well as a DIY part time career, but then I got a job in Audio Visual support so brilliant my first real full time salary job at 26, and my first professional shared house/renting stint. Starting on 13.5k it felt like I could afford my own life,,, I also bought car projects I've always wanted to start, nothing flash but a few thousand. This was consolidated by a 5k loan at 2 years, paying for this left me dipping into the cards to make ends meet, and then another 5k loan at 3 years to consolidate that one, and bits on cards and ovds... a few more project cars, few cycle parts, few car parts, storage costs, tools. A mini Eureka moment came a few years ago as the production projects had grinded to a halt due to too many painful favours, weddings and music videos and real life getting in the way of motivation. So The last few years has been getting all my junk sorted, trying to finish my projects, and my job has also gone nasty due to a full on restructure working under over paid bad 'managers' who can't, who don't understand my role and lumped me into the IT Crowd! so stress is high, and challenges got harder and harder over the last 4 years... of course, comfort shopping and 'new projects' have been used to get control, fun, and creativity in my life, not helping bank balance or items in the house! Speaking of the house that was also very stressful last year but thats another story I probs won't repeat, and a year on problem kids in the area are testing my very short fuse. Being on the ladder is great but does come with more baggage...

So anyway last week my debt management spreadsheet got some reality checks! This included everything I owe including bits what I owe for joint car insurance with my long suffering Girlfriend! :D

I'd been kidding myself for a long time and I still am a little but I'm sure that THIS is now the Peak, and it's going down now :cool: even over Christmas...
So I had to get real that my figure was 5 digits that doesn't even include my pre 1998 student loan @ 6k

So now I have had a lightbulb moment properly this time, I aim to shift £12,980 :eek: meanwhile getting the career that fits and appreciates my skills and care, putting 2 or 3 cars back together, getting the house organised and ultimately fit for sale and hopefully getting enjoment of my life back and losing anxiety locking up my muscles and causing mild panic...

Wish me luck friends, its a big mountain to move... :)

Replies

  • Well It has been a few months, I didn't want to write big stories but mostly dealing with stress that this lightbulb moment has given me is the biggest thing, problem is too that I'm making everything one big stress. I hate my department at work, I thought I was coping but I'm getting quite ragey and emotional all the time so they are winning, plus buying a house last year, theres been a variety on minor issues, combine all this together and I'm starting to feel trapped in my current 'lifestyle'. I've also realised that my department that gobbled up my old one without care and a load of bully directors and senior managers have been fuelling my buying and collecting obsession, though I love it. Not a lot different to an anorexic or compulsive eaters behavior.
    in >Yahoo lifestyle blogs smartmeter hidden-costs-job-loathe

    The biggest difference has been - only spending from my bank account, though I fell off that wagon last month with all the lingering January sales and the purse strings still loose. Good news is it's all stuff I wanted and all stuff that should be useful getting me back on my bikes through spring and hopefully saving some car fuel...
    Also my books are almost as honest as they can be now, keeping an eye on all accounts.
    £12980 - Nov Preparing well for Christmas in pieces - 'new' light bulb moment
    £12756 - December - made a saving before Christmas, amazing I was quite motivated, even bought us a few cute chrimbo treats
    £12581 - January 2012 another win after Christmas, though Sale fever got me... and I also got a decent DIY exhaust bought and fitted.
    £12610 - It's gone up but I'm due £32 back on a par of shoes that didn't fit (blessing) and those other sale items I erm 'needed'. but most of all after pondering a Nationwide loan I decided to transfer the highest interest to a 0% 23month HSBC cred card, so got charged £80 or so in 3.3% tfr charge, so most of monies owed are 0% or 5.7, or 6.9% with about a £1000 at hi standard 18.9 type rate so this is what I need to shift next and try get things under control. only prob is another MOT on the old commuting car to do in March plus insurance time. arrgh... here goes

    Still stressed with work/home/money but the mountain moving is ready now interest is canned a little
    :)
  • Just popping back in...

    The forum is way busy so getting replies is difficult not that i'm attention seeking, just having a public record is enough to give me an extra push but it's slow moving really and I find myself avoiding this site and getting involved with other stuff and foing my old ways. anyway this is where I'm upto, I did well kept steady but with some new and old projects still rearing their ugly heads it's affected the last two months, plus I need to get organised more as there may be a little one to feed on the way next next year! eek! :eek:

    Highest -
    Nov 2011 -- £12980!
    Mar 2012 -- £12433
    Apr 2012 -- £12276
    May 2012 -- £12111
    Jun 2012 -- £12010
    Jul 2012 -- £11854
    Aug 2012 - £11842 - Prepay on work agreed (stupidly)
    Sept 2012 - £11980 - payment 2 on work agreed

    Aswell as other wagon fall offs, This is the first real U turn in almost a year...

    We NEED a real holiday too (gone a little mental this year. :-S :( ) , so going to see what I can do to make sure amounts keep going down.

    Also I have a card coming to end of its 0% period and Barclay have offered 16months 0% seems to be good idea, though I have £400 on there already and it might have to stay there, so better give them a call.
    Other plans are to down scale to one daily driver car next year and look to sell a few assets... never easy for a hoarder but here goes...
  • Ok, you may feel like it's going slowly but at least you still owe a thousand less than you did in November last year. Better than continuing upwards!

    Perhaps you could go through your SOA/spreadsheet and set yourself a challenging target for this time next year or Christmas 2013? 3k, 5k?
    Allypops
    Married with 2 children
    SPC5 # 1837- -
    DMP started April 2011 34.5% paid [STRIKE]£78800[/STRIKE]
    DFD: June 2019 DFW Long hauler #286
  • Ah that's what I always do - when I'm falling 'off the wagon' I avoid the sites that are helping keep me on track (works for spending too much and eating too much :P)

    Your debt is going down so that's a great start you are making! It sounds like you set yourself a huge amount of goals at the start there, to pay off debt at the same time as starting new projects and changing career? Oof! Have you figured out how much you'd have to throw at your debts if you only focused on that for a while? I know that really worked to motivate me, realising how quickly it could all be paid off and I could be debt free if I really focused.
    Savings target: £25000/£25000
    :beer: :T


This discussion has been closed.
Latest MSE News and Guides

Is your local HSBC closing?

114 branches to shut in 2023

MSE News

Advent Competitions

The countdown is on

MSE Forum

Baileys £10 for 1L at Tesco

When you scan your Clubcard

MSE Deals