New DFW Needing Help

han2505

Hey all,

I dont really know where to start with this. All i can say is that i have never for as long as i can remember, been any good with money and controlling my spends.

Basically, when i have no money i still have to buy things.
I've only just last month paid off my credit cards and less than a month later i've managed to get them back up again.
I go through a phase of saying "yes i will clear them" and i start and then once there paid off i just think. no i wont do that again now that i've learnt my lesson and then i keep going back and back in a viscous circle.

I am trying to quit smoking and i have just got a new job so i'm not going to be spending as much money on travelling. I currently spend £1760 ( :mad: )a year on trains so i'm hoping that this will save me a bit more.

I just cant seem to control myself. I'm one of those people who sees something and that afternoon i've bought it, then weeks/days later i think "why did i do/buy that?" :mad:

I currently have 2 credit cards with balances on and an hugeeee overdraft. I am paying the overdraft off £20 month, this seems to be the only thing that keeps going down as i'll see something and put it on my credit card. :eek:

I dont know what to do, i need to learn to control myself and realise that actually i can control myself and i want to learn now while im young.......

Any help would be greatly appreciated

xxxxx :A

Tashja

Hi Han and welcome to DFW !!!

First step is to read the sticky thread at the top of this forum for first time posters and then to post your SOA.

Second I would get yourself a notepad and pen and start writing down EVERYTHING you spend money on so you can see where all your money is going.

The people on here are wonderful and will help you get moving in the right direction.

T xx

han2505

Thanks for that.

Here is my SOA

Monthly Incomings:

My salary - £695.76

Monthly Outgoings:

Rent - £175
Mobile Phone - £81.49
Magazine Subscription - £2.83
Dentist - £13.02
Payment to Dad - £50.00

Total: £322.34

Credit Cards and Overdraft Balances:

Lloyds TSB Credit Card - Balance £309.92 (limit £1000)

Vanquis Credit Card - £ 226.25 (limit £250)

Overdraft - Balance £1460 (limit £1460)

Total Debt: £1996.17 :mad: :eek:

Thanks xxx

han2505

O and i also have to pay for my train ticket which is:

£176.47

£322.34 + £176.47 = £498.81

Total to spend after outgoings (not including Debt) = £196.95

misspoppy

Ok first things first cut up the credit card. You can't spend on it then.

You haven;t included any money for food or bills do you live at home? You also haven't included transport costs, you should start a spending diary writing down every penny you spend and see where your wages are going. Your mobile bill is huge can't you get a pay as you go sim and cut back drastically. If you are still locked into a contract ask for it to be reduced to the min and be really strict on using it.

You say you want to go to NY next year unless you control your spending you won't be able to go.

han2505

Yeah i still live at home.

I'm wanting to go to New York December 2008, so thats why im wanting to get rid of them asap so that i can start my saving!

My transport cost is just the train and i walk everywhere else.

I need to control my phone bill as its on a lower tarriff but i go over it every month which doesnt help.

Skint_Catt

Personally I would suggest not lowering your tariff OR going PAYG as you obviously use it a lot. I would suggest getting the RIGHT tariff. Even if it's £35 a month for inclusive mins and texts as long as you don't go over the limits set then it's £45 cheaper already!

How much of your phone bill at the mo is line rental?? And what tariff are you on?

What about expenses for birthdays, going out with friends, food (even if it'sjust snacks out) etc?

Catt xx

han2505

I'm on a £50 month contract with O2.
Get 1000 anytime any network mins and 1000 texts.

Just that my partner lives away from me and i only see him 2 weekends a month so i use my phone a lot on him.

I try not to buy a lot of food as i pay for that in my rent. But i occassionally buy a sandwich for lunch £1.95, ciggs £2.25 (1xpack a day, trying to quit), go out with my mates for a meal maybe 1 meal a week £15, also but DVD's as got no tv £20.

Is my Partners birthday on Tuesday so i spent more than usual this month as well £309.92 (Lloyds Credit Card, which had just cleared :eek: )

Think thats all.

Sandwich Total : £23.40
Ciggs: £63
Meal £60
DVD: £20

Total Month: £166.40

Which means before i've even looked at my credit cards i have £30.55 left to spend a month.........:mad:

clare155

Hiya just a thought - my boyfriend lives in norfolk and I live in London and our phone bills were HUGE!

So we downloaded Skype for free and as long as you both have computers with internet access you can chat for free.

I now pay nothing at all to contact him! Its saved me soooo much money!

It might be worth looking into

Best of luck

Clare x

misspoppy

Thats a good idea, i have a head set and use yahoo to speak to my friends. I think you are begining to see where you are going wrong, all those bits add up to a lot. Can you take a 2nd job in the evenings this would make a huge difference to your finances.

han2505

Thanks for all the help guys!!

I do have skype but my boyfriend doesnt as he has to share the computer and phone with 5 other people so he isnt ever on it, which means money for me......

I currently have to travel 2 hours on the train to work everyday so its not possible for me to get another job.
Im only here for another week and my new job is only round the corner so i should save on trains and then hopefully wont need to get another job...but its something to consider either way. xxxx