What's the single best tip you can give for all those in debt ?

I hope that I am a true DFW but want to glean some valuable tips that I might have missed and perhaps we could all learn something -

For me, doing my SOA was frightening and yet life changing in my battle against debt.

So my tip is to sit down and work out your SOA it may not be good but it is the real facts.

Now over to you experts..........
threadbanner.gif
Thanks to MSE I cleared £37k of debt in five years and I was lucky enough to meet Martin to thank him personally.
«1345678

Comments

  • dubgirl
    dubgirl Posts: 402
    First Anniversary
    Forumite
    for me it was talking to someone and unburdening myself - for a long time no one knew about my debt. My OH was the first person I told and it was such a relief getting it out in the open. It sounds a bit cheesy but it was a liberating moment for me.
  • Mozette
    Mozette Posts: 2,247 Forumite
    Be honest... with yourself and others.
  • teecee152
    teecee152 Posts: 782
    First Anniversary Combo Breaker
    Forumite
    A spending diary!!
    I couldn't believe how much money i wasted on "stuff"
    DEBTS @ :idea: 1/1/07 - £25,800:eek: DEBT @ 04/05/11 - NIL
    FINALLY DEBT FREE - 4TH MAY 2011:j:j:j:j:j
    "PROUD TO HAVE DEALT WITH MY DEBTS"
    Official DMP mutal support club member no 2 *DFW NERD 351* :D
  • Storm
    Storm Posts: 1,749
    Debt-free and Proud!
    Forumite
    Only pay in cash - it's a lot harder to hand over those £20 notes than it is to use the debit or credit card for £20!
    Total Debt 13th Sept 2006 (exc student loan): £6240.06 :eek:
    O/D 1 [strike]£1250 [/strike]O/D 2 [strike]£100[/strike] Next a/c [strike]£313.55[/strike]@ 26.49% Mum [strike]£130[/strike] HSBC [strike]£4446.51[/strike]@15.75%[STRIKE]M&S £580.15@ 4.9%[/STRIKE]
    Total Debt 30th April 2008: £0 100% paid off!

    PROUD TO [STRIKE]BE DEALING [/STRIKE] HAVE DEALT WITH MY DEBT ;)
  • atypicalblonde
    atypicalblonde Posts: 3,057 Forumite
    teecee152 wrote: »
    A spending diary!!
    I couldn't believe how much money i wasted on "stuff"

    Second that!! Also, I found at first that I was trying so hard to give it my all that I got really down-hearted and started to feel guilty if I indulged at all. Now I have a set few 'treats' that I havent given up on despite being a debt (namely nice coffee and loo roll!) and I appreciate these so much more. xx
    MFW :)
    [STRIKE]Mortgage 8.2.15 - [/STRIKE][STRIKE]£171,064.64[/STRIKE] Mortgage 1.5.2018 - £99,980.45
    Aiming to be MF 1.10.2020
  • atypicalblonde
    atypicalblonde Posts: 3,057 Forumite
    And also, MEAL PLANNING. It has saved me a fortune. xx
    MFW :)
    [STRIKE]Mortgage 8.2.15 - [/STRIKE][STRIKE]£171,064.64[/STRIKE] Mortgage 1.5.2018 - £99,980.45
    Aiming to be MF 1.10.2020
  • richardvc
    richardvc Posts: 1,164
    First Post First Anniversary Combo Breaker Debt-free and Proud!
    Forumite
    The posts so far are brilliant - we should write a book.....oh no Martin's done that already !!
    Thanks to MSE I cleared £37k of debt in five years and I was lucky enough to meet Martin to thank him personally.
  • bobble_hat
    bobble_hat Posts: 727
    First Anniversary Combo Breaker
    Forumite
    I agree with everyone mentioned above.

    Personally for me is having seperate Bank accounts for specific budget categories:

    e.g.
    1. Household Bills
    2. Christmas
    3. Treats
    4. Weekly pocket allowance
    5. Holiday
    "Tomorrow is always fresh, with no mistakes in it." (Montgomery, L.M.(1908). Anne of Green Gables.)
    Debt Free Nerd No. 186 Debt was £16,534.03 Now £9,588.50
  • fay66
    fay66 Posts: 744
    First Post First Anniversary Photogenic
    Forumite
    All of it, and to know your not the only one to make a mess of your life !
    Debt £10k , HMRC £3K old debt £4k Jan 2021
    Had biatric surgery was 135k 2016 now 97kilo 22.1.20 up to 106 kilo 12.1.21
    Travel plans New York 2021 New year cancelled due to covid
  • GirlRacer_2
    GirlRacer_2 Posts: 3,026 Forumite
    It's got to be the motivation I get off you guys. I'm a closet debtor, nobody knows except you guys and whenever I'm feeling down or about to fall off the wagon all I've got to do is log-on. There's always someone there to offer me sympathy or a good kick up the a***.
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 341.7K Banking & Borrowing
  • 249.7K Reduce Debt & Boost Income
  • 449.1K Spending & Discounts
  • 233.8K Work, Benefits & Business
  • 605.9K Mortgages, Homes & Bills
  • 172.4K Life & Family
  • 246.7K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards