Recovering alcoholic, in debt but wants to make a step in the right direction

Ezek

Hi there,

Made the step of *gulp* signing up after being a bit of a lurker on the forums...first of all, reading your posts and stories has been massively inspirational, informative and comforting. This community seems awesome.

About me...I'm a 20something postgrad researcher and part-time teacher. And a recently recovered[recovering] alcoholic. Since that paints a bit of a grim picture of me, other personality traits include a liking for books, kittens, making clothes, talking rubbish with my friends, and scoffing biscuits.

I've had a difficult past few years, and have recently faced up to the fact that a) I have used drinking as a crutch b) said drinking was being, amongst other things, damn expensive and c) I really want to get out of debt and turn my life around, now I've hit the addictions on the head. So here is the scary first step, and a positive one (I hope!)

I'd appreciate any advice or help, but really I'm just happy being here, and knowing that something like this exists. I'm dreadful with money and I've been sticking my head in the sand for far too long. So I'm here to learn from your wise ways, O Moneysavers Forum

Here's my current budget - again, any advice appreciated. I seemed to perpetually live in my overdraft and that's the thing I want to get out of at the moment.

Current OD: £ -1, 300.

Income pm after household bills: £650

Rent: £250
Food: £80 (feeding one person)
Mobile phone: £35 (unfortunately, I'm stuck in a contract until July)
Lovefilm: £10 (I know it's a luxury...but it's a downgrade from going to the cinema..I guess it can go, though)
Socialising: £10 (Substantially cheaper now I'm on the tonic water!)
Books (an unfortunate necessity for research) and commuting: £80
Contact lenses: £30

So monthly expenditure: £415, which, with an income pm of £650, should give me £235 (give or take) left over. The problem is the OD: - £1, 300, which seems get back to near the limit every month or so, even though it shouldn't get near its absolute limit. I just can't seem to crawl out of it. However, I'm hoping that now I've dealt with my personal problems and the emotional and financial cost of drinking, it will be able to understand where my money is exactly going every month.

I'd love to take on another job, but I'm not meant to be working as much as I am (my research is meant to be full-time) and I don't think I'd literally have any time for more paid work.

Anyway that's my situation, and I look forward to participating in the boards. All the best to you all

Ezek

meow5678

Hi Ezek,

I'm fairly new to all this myself so I'll leave the advice to the pros, but I imagine the first thing they'll suggest is to fill out an SOA so that they are able to better understand the complete picture of your finances and work out where you can find the extra ££ you need.

Well done on taking the first steps, and I wish you all the best on your path to recovery.

Enjoy the forum

Tixy

Hi and welcome.

And well done on the steps you've taken, and especially working on giving up the drink.

Kittens, biscuits and talking rubbish? - you'll fit right in on these boards!

Certainly your budget doesn't look too bad - providing you do find that you can now start reducing the overdraft high point by around £200 a month.

If you can stick to the budget above then I wouldn't necessarily cutback on the lovefilm cost.
One thing you might want to take a look at is whether you can get your lenses cheaper, have a check on this article
Contact Lenses

Anyway, welcome on board

MusicalLawyer

Firstly - Well done for your handwork with your addictions and wanting to get straight with your whole life. Top respect for you

With your mobile phone, you're usually able to drop down tariffs when you're half way through your contract - so you could look in to that, especially if it's going to end in July.

You're food is reasonable - though you could improve it by buying the reduced meats and freezing them. Maybe only buy veg the day you need it so you're throwing away less. Batch cook, so cook a lasagne, eat half then freeze half - stuff like that perhaps?

Good Luck!

Ezek

meow5678 wrote: »

Hi Ezek,

I'm fairly new to all this myself so I'll leave the advice to the pros, but I imagine the first thing they'll suggest is to fill out an SOA so that they are able to better understand the complete picture of your finances and work out where you can find the extra ££ you need.

Well done on taking the first steps, and I wish you all the best on your path to recovery.

Enjoy the forum

Thanks Meow. I didn't know what SOA meant at first (shows how new/gormless I am) but just come across a calculator for doing one, it looks incredibly helpful. Good luck on your path as well

Ezek

Tixy wrote: »

Hi and welcome.

And well done on the steps you've taken, and especially working on giving up the drink.

Thank you very much

Kittens, biscuits and talking rubbish? - you'll fit right in on these boards!

Excellenttttt *rubs hands together Mr Burns-style*

Certainly your budget doesn't look too bad - providing you do find that you can now start reducing the overdraft high point by around £200 a month.

If you can stick to the budget above then I wouldn't necessarily cutback on the lovefilm cost.
One thing you might want to take a look at is whether you can get your lenses cheaper, have a check on this article [article on contact lenses]

Thanks, that's good advice. And that contact lenses article is very interesting! I think I'm way overspending on them :eek:

Anyway, welcome on board

Thank you

Ezek

MusicalLawyer wrote: »

Firstly - Well done for your handwork with your addictions and wanting to get straight with your whole life. Top respect for you

Thank you! There's such an aura of shame around being an addict in some way, it's hard to admit to it even online. Affirmation is much appreciated!

With your mobile phone, you're usually able to drop down tariffs when you're half way through your contract - so you could look in to that, especially if it's going to end in July.

I didn't know that - I'll put my assertive hat on and give it a go.

You're food is reasonable - though you could improve it by buying the reduced meats and freezing them. Maybe only buy veg the day you need it so you're throwing away less. Batch cook, so cook a lasagne, eat half then freeze half - stuff like that perhaps?

Food thriftiness is definitely something I want to improve upon. I've got it down to about £20 or so a week, but I'm definitely interested in making it go further.

Good Luck!

And to you

carslet

really i dont think a OD of £1300 is much to worry about, just try spending a little less each month, insted of trying to pay it off asap, if you were like me and had your debt on credit cards, you would have somethign to worry about, i still do.

even a reduction in £10 per week will make a large hole in it within the year.

Ezek

carslet wrote: »

really i dont think a OD of £1300 is much to worry about, just try spending a little less each month, insted of trying to pay it off asap, if you were like me and had your debt on credit cards, you would have somethign to worry about, i still do.

even a reduction in £10 per week will make a large hole in it within the year.

Thanks, you are right of course. It isn't a vast amount compared to many people here at all. (And I'm sorry to hear about your credit card debts. Credit cards are stinkingly evil).

I'm here to try and learn good habits though, and to get out of my most immediate debt, which is the OD. I also have a lot of debt from student loans, but there is nothing I can do about those at the moment as I haven't finished studies and I'm not in full time employment. So I'm concentrating on the most immediate debt so I can set a good pattern for myself for the future

BlushingRose

carslet wrote: »

really i dont think a OD of £1300 is much to worry about, just try spending a little less each month, insted of trying to pay it off asap, if you were like me and had your debt on credit cards, you would have somethign to worry about, i still do.

I'm sorry but this sort of comment always makes me a bit cross.
Everyone had their own definition of debt and how bad it is.
To the OP, a OD of £1,300 is a lot and he wants rid.

It's like when people need to lose weight (see my siggy) and someone who looks like a stick says to me 'oh, I'm so fat' and I think 'no you're not' but to *them* they feel fat and so it's not for me to judge what they're feeling.

Ezek

BlushingRose wrote: »

I'm sorry but this sort of comment always makes me a bit cross.
Everyone had their own definition of debt and how bad it is.
To the OP, a OD of £1,300 is a lot and he wants rid.

It's like when people need to lose weight (see my siggy) and someone who looks like a stick says to me 'oh, I'm so fat' and I think 'no you're not' but to *them* they feel fat and so it's not for me to judge what they're feeling.

Thanks for the support BlushingRose

(And congrats on the weight loss - 2 stones 6lbs from September is impressive!)