Debts and discipline

artnoble

Hey folks.

I'm in about 11k worth of debt which I really want to lose. Its not the amount of money but its the credit score I wish to improve.

I was made redundant in 2008 and most my creditors took token payments of £1 a month. This lasted a few months then I stopped making payments. I've not made a payment since then.

Now I have a broken relationship, living at home and want a fresh start.

I've a new job which I start officially tomorrow (previously worked at the place while at an agency). The money isn't the best but its enjoyable.

Now where do I start!! I come on this site and read your lovely stories and how you set your mind to it and I want to the same.

But I know what will happen, I'll get to work spend £10 on dinner without thinking about it. Come friday afternoon I'll spend £50 in the pub on the way home. The same on Saturday and regret it on sunday.

I just want to be able to be disciplined and be able to improve my credit file and make a future for myself.

immoral_angeluk

Have you tried a spending diary? That's one of the best ways to become aware of what you're spending as you can tot it all up and see exactly how much you're spending over a week/month/year and it's often shocking!

moohound

Yep write it all down, or record it on a smart phone or whatever.
Try to have no spend days.
Have you got a snowballing plan or something to manage and reduce the debt?
Will the creditors want paying again straight away?

McKneff

Have you checked your credit file,
Do you have any savings whre you could offer full and final settlement.

If you have defaults they will be on your credit file for 6 years I'm afraid.

£50 in the pub,:eek:

You either go home rolling drunk when pints are around £3 or you are far too generous buying them for other people.
Start being mean lol

artnoble

I never have. I know about 80% of it just goes to waste. I guess that would be a good idea if I can keep up with it.

I really need to click out of the working to the weekend and letting loose. I do nothing in the week and go mental at the weekend.

I think its been hard coming out of a long term relationship as I'm alone most the week so have to spend money to see friends ect.

artnoble

McKneff wrote: »

Have you checked your credit file,
Do you have any savings whre you could offer full and final settlement.

If you have defaults they will be on your credit file for 6 years I'm afraid.

£50 in the pub,:eek:

You either go home rolling drunk when pints are around £3 or you are far too generous buying them for other people.
Start being mean lol

Pretty much everything is in default on my credit file. Pretty much everything is with a DCA. I thought I had about 20k worth of debt as I've hidden it for so long. So 11k has given me a bit of hope.

Yep rolling drunk thats me. I need a hobby!!!

Due to being on agency savings have gone and pretty much been living week to week.

Now tomorrow is my first proper day. So I guess its the first day of my future. I just want that back bone and stick to what I want.

McKneff

And you really dont need to spend a tenner on lunch. I get a three course sunday lunch at the pub for less than that lol

Can you make something at home. Are there any drinks facilities at work.

Write down everything you spend from tomorrow, (new job, new month, new life) on a spreadsheet if you like.

Stop drinking so much, I know you need to socialise but you'll be damaging yourself as well as eventually start wetting the bed before long. (yes it does happen)

Anything you pick up, ask yourself do I need this or just want it.
Decide and then put it down.
Good luck in your new job and your new budget.
Annie

artnoble

moohound wrote: »

Yep write it all down, or record it on a smart phone or whatever.
Try to have no spend days.
Have you got a snowballing plan or something to manage and reduce the debt?
Will the creditors want paying again straight away?

I will start to record it. Is there an app or whats the best way of doing it.

At the moment I have no contact with creditors, get the odd letter but will have to contact them. My ambition is run my own dmp.

artnoble

McKneff wrote: »

And you really dont need to spend a tenner on lunch. I get a three course sunday lunch at the pub for less than that lol

Can you make something at home. Are there any drinks facilities at work.

Write down everything you spend from tomorrow, (new job, new month, new life) on a spreadsheet if you like.

Stop drinking so much, I know you need to socialise but you'll be damaging yourself as well as eventually start wetting the bed before long. (yes it does happen)

Anything you pick up, ask yourself do I need this or just want it.
Decide and then put it down.
Good luck in your new job and your new budget.
Annie

Well if that doesnt put me off nothing will

I'm going to be a delivery driver for a car company and I'm mainly local so I can make my own food/drink to take with me.

But on the other hand I have an unlimited supply of shops/cafes/mcdonalds. I guess the obvious thing is not to take my wallet out with me.

Thank you all for your help and advice.

YORKSHIRELASS

First off well done for making some serious effort to pay it back! Like you I lived in denial for years. What changed me was keeping track of my finances. I have a spreadsheet keeping a running total of my bank balance then I have columns going across the sheet where I separate the spending into different categories.

At the end of the month I have totals for whats come in and where its gone. The first month I did this I nearly threw up when I realised what a mess I was in.

Now I check my online banking religiously every morning while I eat my breakfast and update the spreadsheet. I keep track of whats to pay out and whats to come in so I know where I will be at the end of the month. It sounds silly but this spreadsheet has changed my life. When you see it in black and white it makes it real and it makes you realise how much spare cash you have to play with.

I also have a little notebook where I log cash expenses but most of my spending is by debit card as I like to see where it has gone.

Some people have systems of dividing their spending money into weekly envelopes to make it last the month, there are loads of good suggestions on here, you just need to find something that works for you.

artnoble

YORKSHIRELASS wrote: »

First off well done for making some serious effort to pay it back! Like you I lived in denial for years. What changed me was keeping track of my finances. I have a spreadsheet keeping a running total of my bank balance then I have columns going across the sheet where I separate the spending into different categories.

At the end of the month I have totals for whats come in and where its gone. The first month I did this I nearly threw up when I realised what a mess I was in.

Now I check my online banking religiously every morning while I eat my breakfast and update the spreadsheet. I keep track of whats to pay out and whats to come in so I know where I will be at the end of the month. It sounds silly but this spreadsheet has changed my life. When you see it in black and white it makes it real and it makes you realise how much spare cash you have to play with.

I also have a little notebook where I log cash expenses but most of my spending is by debit card as I like to see where it has gone.

Some people have systems of dividing their spending money into weekly envelopes to make it last the month, there are loads of good suggestions on here, you just need to find something that works for you.

I like the idea of a spreadsheet. I will work on one tomorrow when I get home from work. Just love to get to a stage where I don't have to live month to month.

I have decided that I'm not going to buy alcohol in a pub during July. I don't really have alcohol in the house and due to work I never drink on a school night. So need to remain disciplined at the weekend.