Owe just over £10000 to 28 different companies

cyclura

well that explains the groceries, why not try to pack it in, you can get help from the NHS cant you, as the previous poster said it will not only help the footy, but it will always cut your debt and make you feel so much healthier.

I can understand needing to feel sain, can you not cut it a little, every little helps as they say.


About the renting, thats what i was thinking, I used to rent a room many moons ago and everything was included with the rent.

YoungBaker

Well done for posting your SOA mate it can be a bit daunting sometimes.

As the others have all basically said though, you simply are not going to get out of this debt quickly until you seriously re-evaluate your priorities.

The fact of the matter is you are in a pretty decent situation - you earn a great salary and are in accommodation which is pretty much all inclusive in terms of bills, so you have big immediate savings straight away. I totally get you need things to keep you sane, and if you read any other DFW post or SOA that is put up by users, everyone recommends a bit of a buffer in for entertainment etc. to let yourself still have that something for you every month - whether it be a bottle of wine a week, a cinema outing a week etc.

But in reality, you are actually spending 1/3 of your whole wage on this entertainment aspect to keep you sane... That in itself is insane! Fine, you may absolutely hate not having as much fags for the next 3 or 4 months, or having to halve the amount of football you play or clothes you buy - but without doing so your enormous amount of debts aren't going to go away any time fast.

I don't want to lecture or anything as you are obviously a grown man and are capable of coming up with your own priorities in life, but I sincerely hope you take a more focussed look as you are obviously here in the first place for a reason.

If it helps, why not even think of it as in if for the next 6 months you cut your total entertainment spending (from fags, footballl, clothes, holidays) from £600 to £200. That is still a huge amount for entertainment, but gives you £400 quid extra pm for debts... x6 months = £2400 cleared from your total 10k debt, 20% overall.
And once this 6 months or however long is up until the debts cleared, think of all that cash + plus the extra from your debts you will have to buy as much fags and football as your lungs can cope with!
Good luck.

Timetogetfree

cyclura wrote: »

well that explains the groceries, why not try to pack it in, you can get help from the NHS cant you, as the previous poster said it will not only help the footy, but it will always cut your debt and make you feel so much healthier.

I can understand needing to feel sain, can you not cut it a little, every little helps as they say.


About the renting, thats what i was thinking, I used to rent a room many moons ago and everything was included with the rent.

Keep trying to quit but its alot easier said then done. I am still a very fit and active person even tho i do smoke. Dont get me wrong it will have long term affects but i only really started about 3 years ago smoking daily before that it used to be just on the weekends when i was out.

My aim now is basically spend as little as possible and pay of the debts i can. My aim will basically be to say goodbye to at least 1 a month and be free from them all within 24 months. Not saying its gonna be easy but with working extra shifts and cutting down my spending i will get there.

Guess there are people in a worst problem then me as i have a good income level and not that many outgoings other then the debts. Think i just put dealing with it off too long as may people i guess would no about. I will continue to keep people updated anyhow.

YoungBaker

Timetogetfree wrote: »

Keep trying to quit but its alot easier said then done. I am still a very fit and active person even tho i do smoke. Dont get me wrong it will have long term affects but i only really started about 3 years ago smoking daily before that it used to be just on the weekends when i was out.

My aim now is basically spend as little as possible and pay of the debts i can. My aim will basically be to say goodbye to at least 1 a month and be free from them all within 24 months. Not saying its gonna be easy but with working extra shifts and cutting down my spending i will get there.

Guess there are people in a worst problem then me as i have a good income level and not that many outgoings other then the debts. Think i just put dealing with it off too long as may people i guess would no about. I will continue to keep people updated anyhow.

So fine, smoking is something you will really struggle to get rid of - so allow that as your entertainment buffer then using your £100 a month for it. But instead, you should be evaluating all the other entertainment budgets you have assigned - holidays, football, gifts etc. and cutting them in the mean time.

Im sorry mate, I do hope you really get your debts sorted and think you have the motivation to do so, but I dont think you are quite at rock bottom with it yet otherwise you would really be taking a harder look at sacrificing some of the entertainment luxuries you think are necessities.

As said in my last post, you are spending 5-600 per month (1/3 of your wage) on stuff just to make you feel good/entertainment. This is not viable if you trully want to clear your debts in an orderly fashion. I'm looking at your debt list again there and can see by cutting this you could cut at least 5 - 7 creditors a month from your list... boy that would be some feeling, if you really wanted it.

cyclura

I understand smoking is a vice and an addiction, dont get me wrong. I was a smoker and I am no longer. It took something major in my life for me to change and I decided one day to stop. I got support and it worked. I have been smoke free for 4 years now and I am proud of the fact. Its not impossible and it would be a good incentive for you. There so so much help now it can be done if you want to do it, just think about al the benefits if you did, not only would it help clear your debts but much more.

Anyway enough of that from me you dont need a lecture, I just want to support.

Timetogetfree

al_1232 wrote: »

So fine, smoking is something you will really struggle to get rid of - so allow that as your entertainment buffer then using your £100 a month for it. But instead, you should be evaluating all the other entertainment budgets you have assigned - holidays, football, gifts etc. and cutting them in the mean time.

Im sorry mate, I do hope you really get your debts sorted and think you have the motivation to do so, but I dont think you are quite at rock bottom with it yet otherwise you would really be taking a harder look at sacrificing some of the entertainment luxuries you think are necessities.

As said in my last post, you are spending 5-600 per month (1/3 of your wage) on stuff just to make you feel good/entertainment. This is not viable if you trully want to clear your debts in an orderly fashion. I'm looking at your debt list again there and can see by cutting this you could cut at least 5 - 7 creditors a month from your list... boy that would be some feeling, if you really wanted it.

I have been at rock bottom before due to my addictions meaning i wouldnt eat for 3-5 days waiting till payday and then going out and blowing a months wages in a few nights out. Then lending money to do the same again and again over and over then promising myself i wouldnt do it.

Guess i have dealt with those issues partly by moving away from the people who allowed me to do this without saying anything but also just feeling like i owe myself to be better than that.

Basically 2 years ago i put a list together off things that i needed to do sort out. These included;
> stop drinking so much
> stop taking drugs(cocaine was my thing)
> sort my debt out
> start saving and doing things i enjoy

There are a few other things that are a bit personal to me so i wont share those but so far i have stopped drinking, taking drugs and gambling. Now i am starting to take control of my finances.

It is helpful having people to talk to on here as they give you ideas and tips on how i can do this but also i wanted to try to give other people motivation to sort there own issues out and i am not saying its easy but i think after beating drink, drugs and gambling addictions i will get there.

Thanks for the help and just thought it might help giving you abit about where i am coming from.

HeadAboveWater

You have done really well since deciding to turn your life around. Be proud of where you've got to so far

YoungBaker

Brilliant - thats amazing you have done so well and accomplished so many goals and obstacles you have faced. I am confident then you definitely will conquer your debt with the same attitude.

I apologise if you perhaps think me or some of the others have been quite critical of some of your spending allocation as I understand a part of you doing this was to help others also, but please know it of course is not in any way personal. We are all just wanting to help you on your debt free plan and, from the outside looking in, it's a major area in which it looks as if you are overspending and could use the cash to get debt free quicker and then enjoy yourself with your hand earned cash more quickly at the end.

Whatever you decide to do good luck anyway and I have subscribed to this thread so look forward to hearing how you get on.

Timetogetfree

Anyone can say what they want to me on here as think i need to hear it, i will just try to explain my reasons for putting a, b or c in each section on the SOA.

It takes alot to talk to people about issues and i usually keep everything to myself about issues like this.

Like i said thanks to everyone and i will keep people posted on any updates from companies and running totals.

Aim is for 2-3 of these debts to be paid off in the next 2 weeks once next payday arrives.

woohoo_postingid

£37k a year is more than £1803 per month take home.