Fixing the dripping tap - aiming for a debt free life

Catriona_P

Hi everyone,

I've been here a while, attempting to get my debts down. In March I had my epiphany and have been trying extra hard.

Basically in the run-up to my wedding 3 years ago I ended up with £2.5k worth of credit card debt. I've never been in the black since. My financial relationship with my husband is difficult - we have seperate accounts and I ended up paying up the whole lot myself. We now have an 18-month-old daughter and before she was born (and for some months afterwards), I paid for almost everything, which sent my overdraft and credit cards through the roof. So now it's the combination of baby stuff/house stuff (we've had our mortgage for 4 years and the house needs a lot of work still which costs a lot), that means I'm struggling to decrease my debt. Our relationship is struggling for other reasons but finally I am now starting to get some contribution from him towards things.

As you can see by my signature, my overall debts are coming down, but slowly. I'm finding my overdraft to be the most difficult thing to reduce, every time we have big bill it goes up again (car repair in June, gas/elec in July).

But I'm scrimping, I'm fighting, I'm doing whatever I can. I guess I'm just finding the whole thing very frustrating as it's taking so long.

I have little support so keeping momentum up is hard, but I keep a spreadsheet of all my outgoings (have done since July 2011) and a close eye on my figures.

When I had my epiphany moment in March my overall debt was £3,241. At the end of July (not including the interest on my credit card) it was £2,404. I'm not including my student loan or mortgage as that would just drive me crazy.

Today I am sending out 2 Ebay parcels. £4.74 made last night.

hannahroberts1985

Hey :wave:

You've made a really good start. The diary will definatly help keep the momentum up.

Bless you sounds like your being relied on a lot to support you family.

Good Luck :j

Catriona_P

Hi Hannah :wave: and thank you!

I've made just over £4 on surveys in the past month, a lot of work for little reward but it's not something to be sniffed at.

I've taken out a new credit card (eep) which has a 0% interest rate for 22 months, but in order to use it I need to do a double transfer for my overdraft (to another of my credit cards, then to my new credit card). I'm still debating whether to do it or not, but unless I pay off what I currently owe in 4 months (not a chance), it will be worthwhile. I just don't want to relax too much knowing I don't have charges for 22 months, I need to keep the impetus to pay off everything I owe (if that makes sense).

More stuff for sale on Ebay. Not expecting any big bids, but it's clearing room and more money for my pocket.

I need to start tackling my shopping mentality. Going out to shop (even for little things) makes me feel unheathily good. I don't know why but it's something I need to look at.

Catriona_P

Really chuffed that I've sold the accessories for our old pram on Ebay (husband broke the pushchair which went to the tip but I kept the accessories despite his complaints, and sold them on ebay for £16!). :j

I've decided to have a 'one in, one out' policy with clothing. I rarely throw clothes unless they fall apart and most of my clothes are so ancient it depresses me so whenever I buy new clothes (which isn't often) I'm going to either sell/donate/chuck something else. Might make me a bit of money or clear some space.

I really need to start concentrating on getting NSDs. It seems that every day there's something small that needs buying - yesterday it was the Ebay parcel and we'd run out of toilet roll. And I need to sort out transferring my debts to my new credit card.

I also need to stop obsessing about money, too much time is thinking either about the spending of, or saving of. But it's a hard habit to break.

Catriona_P

I've finally managed to transfer all my debts (overdraft and credit) onto my new Barclaycard platinum. It's taken me about a week to arrange as all debt had to go via my Tesco credit card, but got there in the end.

So I'm now in the position of having £2,848 to pay on my new card (which includes all the transfer fees) and 16 months of 0% interest. Which is great, I havn't felt this good about my finances in a long time. And my current account is finally back in the black (payday pending) for the first time in at least 2 1/2 years, probably longer. Now I just need to concentrate of paying off the balance before the 16 months is up, but I'm hoping it'll be easier than it was as I'm no longer running up fees. And I might be able to start saving again! :j:j:j In the meantime, I'm keeping the pressure off me by asking for more support from my husband.

From looking at the Snowball debt calculator, as I'm aiming to pay £200 a month, I should have the debt paid by November 2013 which is shortly before the 0% interest runs out. It seems like a long way away, but I'm sure it'll fly by.

In the meantime, I'm doing surveys, writing articles, selling anything I can on Ebay to get extra dosh in. I'm a bit nervous that I'll end up overspending again, so I will have to still keep a close eye on my spreadsheets, I really don't want to end up struggling again.

Catriona_P

It's been a while since I updated this. I was so positive and keen to keep the momentum going but somehow I've ended up back in the red again. After payday last week my account was still £300 overdrawn. So much for a fresh start.

It's been a rough few months - major work was needed on both the car and the house and the fridge-freezer went kaput, so a lot of outgoings I wasn't expecting.

No idea what to do now except soldier on I suppose.

choppy34

Hi Catriona,

Well done for coming back on here and updating your diary and hopefully your can get back on top of your debts again xx

brizzledfw

Agree with choppy. I was pretty slack over the summer and stopped posting. But need to fundamentally change things so back here again and I find the support but also the wisdom around picking yourself up again is fantastic. Do know what you mean about OH not pulling their weight. OH is amazing in many ways but he's not into MSE..so I find it makes it harder for me ( and if I am honest sometimes makes me angry) that he won't have a LBM.

Have a good day and as you say, soldier on

rising_from_the_ashes

Would also 3rd posting in your diary a lot ..... I whitter away to myself most of the time (although do have a few people drop by with suggestions / support which is fantastic!) and it does help ...... keep plodding on ..... you will get there!

Catriona_P

Thanks for all the kind words guys, I will definitely make a point of posting more often. If only Fairy godmothers were real and could get rid of debt with a magic wand!!!

Catriona_P

Well it's payday! :j

Been keeping myself busy this month - had a massive team order on Textbroker come through so I've been working on various orders. I'm keeping a little spreadsheet and the figures tell me I've earned about £900 so far (still waiting for some articles to be accepted), which is amazing!

But despite the good work on that front, I'm still well back in my OD again. Am just about managing to get into the black for a few days just after payday, but that's it. I'm still struggling to really understand why, I keep a spreadsheet of outgoings. I guess it's because so many big things need doing - money spent on the car, fridge/freezer repairs this month for example.

Things with the OH are very up-and-down. We've been having counselling which has now finished, and although things are a bit better, I'm not sure it's enough. He is at least starting to take responsibility for paying for a few things (although he did tell me this week that he's 'a man so shouldn't have to remember these things') .

But we soldier on. My xmas shopping is almost done - this is the earliest I've ever managed it!

Work is busy, and I'm supposed to be studying for a big exam in January. I failed this exam in the summer so I'm not really feeling the urge to get on and study, but forcing myself to. After a full day's work, looking after my daughter (who is a handful), studying really doesn't appeal.

Really need to get on and declutter more too, as I'm such a hoarder. But where's the time, the time!