Help needed in my concerted effort to get debt free!

make_life_easier

You have done brilliant so far so don't let it get you down. We all have things that come out of the blue and need to find the extra cash. Just look at it this way you didn't increase your debt and you can start saving again this month. It is great to see you cc card amounts reducing, so what if you have to do some shuffling about as long as you can look forward to june 2007 (might be august 2007) at least you are doing something to better your lifestyle in the future. Think positive and keep your chin up.

Andrea

Dumbledore55

Hi all

Thanks for the encouragement, I'm feeling a little more positive now. I'm not over bothered if it takes a few more months to get debt free as long as I don't go back to paying huge amounts in interest. At the moment everything is still 0% so at least I'm paying off the debt NOT the interest.

I've got a pay rise to look forward to in September so that'll help.

I might try Telewest to see if they'll reduce my monthly bill if I threaten to go elsewhere, its worth a try.

Once again, thanks for all your support. I feel better having been honest about overspending rather than bury my head in the sand.

Rave

Don't worry about it at all- as others have said all those expenses were basically unavoidable. The difference now is that you paid it off with money that had been earning you interest while you had it, whereas previously you would have been paying the CC company interest to borrow money that you needed to spend. Don't see it as a setback, see it as progress! I've just recently got to the point where I can pay for expenses like road tax and TV licence out of our monthly earnings rather than having to get further into debt to cover them, and it's a good feeling!

gallygirl

You've done really well so far, but am afraid I'm going to tick you off - not for spending the money, but for seeming surprised that you did!

You KNEW you would have to buy school uniforms etc.

You KNEW that the weddings were going to cost money.

So why are you so upset about it? If I can hazard a guess I'd say it's because you're still in denial - i.e. money spent on credit cards is not real money, so you're genuinely shocked when the bill comes in. It's this attitude, IMHO, that got you in this mess in the first place (sorry so be so harsh but this is like reading about myself a few years ago!)

Take expenditure like this into account when you're planning for the month ahead, and accept that you'll save less, or nothing. Then you won't feel you've failed when the bill arrives.

Some would say that you shouldn't be going to expensive overseas weddings when you're trying to pay off debt, however your financial position is obviously that you have a reasonable income, and, again speaking from experience, you'd only feel resentful if you were working hard and had no fun. But are you sure you're going to the weddings for the right reasons, and not just because you're too embarassed to say no? If you're sure, and you obviously have a big family, can I please come to the next one - I have a v nice hat.

Sorry if this has sounded negative, I do think you're doing really well and another update is due any day now...... good luck

Dumbledore55

I totally agree, I should be budgeting ahead and not using the credit card.

No excuses - poor money management!!

I do have a big family and to miss a sister's wedding would cause a MASSIVE family rift I can assure you and as I do earn a reasonable wage I should be able to have some fun.

I was shocked when I saw the bill but as I had saved £500 at least I can still pay it all off. I've learnt my lesson and will go back to just using the card for petrol and groceries.

Update not due until October now - just updated early this month.

Ticking off accepted

gallygirl

:grouphug: glad you still speaking to me!! x

Dumbledore55

October Update

Capital One - £12929- £376 per month - 0% until August 2006

Intelligent Finance - £7643 - £149 per month - 0% until February 2006


An OK month but I'm not making as much progress in reducing my debts as I'd have hoped so I've been left no choice but to change the likely date I'll be debt free. It looks like the max I can afford to pay off my debts per month is £750. I've used whatsthecost.com to calculate my debt free date and I think that's probably more realistic in my current circumstances.

I've managed to put £300 in my savings account but I'm keeping that for Christmas presents.

Its coming up to that time of year to review my house insurance (Nov) so my aim this month to see if I can beat it.

southernscouser

Just read this post for the first time and firstly I just want to say well done. As you can see from my signature I'm deep in the poo but posts like yours keep my chin up and the determination to be debt free.

Sure you've still got a way to go but you are so much closer than when you started out. Your not paying any interest so you know every penny of your minimum payments goes to paying off debt.

If you don't mind me asking, how come you have £250 less a month to throw at the CC's?

Good luck
Southernscouser

Dumbledore55

I think I was over ambitious in thinking I could spend £1000 per month on debts and still have enough money for all the other bills etc but mostly I forgot to take into account money for repairs to the car, school uniform, family events such as weddings and of course Christmas!!

I am still going to try and pay off more than the £750 but I think I need to be realistic with Christmas coming up and looking at how much I've been able to pay so far each month.

But as you quite rightly say the best thing is that every penny I pay is going on my debt and non in interest and with the amount of debt I've had that's a massive saving!!

I will be looking for a new 0% credit card to replace Intelligent Finance in February but I've just been turned down by Barclaycard for having too much debt!! I was a bit shocked cos even when I've had higher debt I've rarely been refused before!

Thanks for your kind words, you have made a good start too and no matter what happens don't lose your focus. I hope you've got all your debts down to 0% too.

Good Luck

DD

southernscouser

Unfortunately I am still paying interest. Got to wait a few months for applying for 0% cards again but everyday is a day closer!