Lbm 21/1/12

LoulaBelle

Hiya - well done for the Light Bulb Moment - I think theres plenty of ways to save money.

I don't think you need to ditch your friends through - its friends that see us through the hard times after all - you sound happy with your lot but just tend to overspend - I can see how that happens - you earn a lot so spend a lot without even thinking. Maybe you could try finding a cheaper aparment although sometimes (if in a big city its not possible).

Well as your due bonuses from work chuck those at the credit cards.

I know where you are coming from - my husband works for a huge company - many youngsters there he and they have the latest gadgets n Iphones/Ipad2 etc (he's only young himself a mere 34 but very sensible head on young shoulders - we've both worked hard and out long term plan is to pay off mortgage by the time he's 40) anyway less about that as just before christmas he lost his job - he'd been there 10 years (we have 2 children of 3 and 6 and I haven't worked since they were born. He got another job within the same week - but its shaken us both to the bone I can tell you.

Luckily for you - you rent and don't have a mortgage and no dependants. Do you live in a big city and have use of public transport so no need for the car - that could halve your debt? plus one or 2 bonuses will certainly get you back into the black.

One day you may feel like settling down - you don't want debt hanging over you if you do.

We've really taken stock this last week - less of the taxi's to the station £50 saved and I've been good on the food shop, made pizza'a not ordered them oh and blagged loads of eggs of my nutty sister that keeps chickens - me n the kids have had pancakes and omlettes for brekkie and i have baked loads of cakes

It seems one of us is Gadget obsessed and the other is going back to the 'good life' - still we are working to get there together.

I will be back on here Monday when I have more time ;-))

barbarawright

Has it occurred to you that your friends might have exactly the same financial problems as you? I'm sure some them would be grateful if you suggested a cheaper social life.

Happytogetdebtfree

Hi, well done for posting. There's plenty of room to be made in your soa. Keeping up with the jonses is all well and good till yoir paddling on a life boat and there enjoying the view at the front of the yacht. Miss a few social events and party hard on your negative wealth. When the big bonus comes in party hard then... It's early enough now to make some big changes. Good luck. X

Decadent_Debtor

Hey Tres. Your story sounds pretty similar to mine, really helped reading your post. I found with my friends (again, similar to yours) that as soon as I announced I was saving for a house etc it quickly came out that everyone was worried about money and wanting to cut down. Three of us are now in our own houses with another two well on the way.

Car. Tough call. I LOVED my old car but had to sell it to get a mortgage and have been driving a total banger ever since. Not good at all for my street cred and wouldn't recommend it - but could you swap for a 2.0TDi TT or a cute/trendy A1 that would be a lot cheaper to run.

I've got a big holiday to New York coming up soon but after that I'm done for a year or so. Going to put all of this year's bonus (similar amount to yours) into finishing the house off this year but next year at least 50% is going towards paying off debts.

Interesting to hear that you're still paying your student loan off. I paid mine off almost a year ago through regular salary payments. Might be worth giving them a call as they won't automatically stop taking payments once you've paid it off. Makes a real difference to have that money in your pocket each month! It's like a £3k payrise!

Best of luck!!!

Knarston

Hi Guys

Same age, same salary same bonus and similar debt maybe not as much but all the same its there. I have difficulty budgeting, I dont drink but I do go for meals not all the time but occasional. I have been trying to justify to myself is £1400 enough to live on a month after all my bills etc are paid and can I put money into savings etc any pointers on what you guys are going to do I will join in and try and get a good year.

I paid £1300 off my credit card yesterday so only £1800 to go and am due a ppi payment soon before my bonus so hope to have that wiped out soon thats one away.