Living in absolute DENIAL

Lucy1010

Hi Ladies & Gents

How on earth have I been thinking that I only have £6,000 worth of debt when in REALITY the debt totals over £11,000

I'm a professional, I earn a good salary yet I've allowed myself to think I owe less than HALF the debt I really owe...

It's taken me another good look through this forum (after being absent for over a year) to realise that I have been living in denial.

Now, with an accumalated £11,000 approx of debt, I am worried!! I'm not in search of advice on cost cutting, I know what I have to do but I'm just wondering if anyone else reading this is realising the same?

I need to get rid of this debt. The snowball calculator suggests I'll be debt free by Sept 2014, this is not music to my ears, I'm actually ashamed of myself.... I shouldn't have this debt hanging over me at this stage in life - I thought I had it all under control but in the last year I've lived beyond my means and what do I have to show for it all? A wardrobe of clothes... bits of nice furniture, beauty treatments and a memory stick full of sunshine fuelled holiday photos... that is it!

Those of us that think we *deserve* a holiday because we've worked so hard... think AGAIN. If we're paying for it on our credit card we won't feel so refreshed when the realisation of paying it back over the next 2 or 3 years hits us hard, because in that time we won't be able to go on holiday or buy fancy things without getting further into debt.

Guys and Girls, I'm not seeking advice on how I can cut back, I know how to do it, I just want others to learn fron my mistakes.

No matter how tough life seems, or how deprived you might feel, paying for it on credit is like a drug addict needing a *fix*. It's not long term, it will only make you happy momentarily and you WILL be paying twice as much if not more for that one *fix* .

I detest credit cards and I cannot wait to pay everything back and become debt free... I am the envy of all you people that live without credit, I long to be that person! In the meantime I'm on a mission... no more careless spending, no more clothes, holidays or anything fancy.... need NOT want. I pray for the day when I can come back here and declare I'm debt free!

Nothing tastes as good as debt free

Thanks for reading :-)

Lucy x

Delree

That was the same as me, I used too spend all my salary on my extravagent day to day life but still demanded holidays, so on the credit card they went. Why? Because I deserved a holiday for working hard and hey, I'll just pay back that flight and hotel next month. Balls did I.

I ended up going from Aug 2010 to Dec 2012 paying it all back and having minimal holidays (three in that time) but it's done now and I won't be making that same mistake again.

Good luck on your journey, keep us informed as to how you're getting on.

R_P_W

Having 3 holidays in 2 years being minimal - how many were you having before that?

harrys_dad

The first step to finding a solution is to understand the problem. Go for Lucy 1010 and look forward to August 2014. Please keep us informed about your journey.

climbingoutoftheabyss

I detest credit cards and I cannot wait to pay everything back and become debt free... I am the envy of all you people that live without credit, I long to be that person! In the meantime I'm on a mission... no more careless spending, no more clothes, holidays or anything fancy.... need NOT want. I pray for the day when I can come back here and declare I'm debt free!

You WILL be that person Lucy.

You have made a massive step in realising the problem and then taking action. There are many of us here that have been in the same situation and had the same lightbulb moment.

You will come out of this stronger.

ninadam

Hi Lucy,
I know how you feel. I dont have a huge amount of debt but im sick of having money on cards....for stupid stuff like clothes etc.... i can totally identify with what you have said!
Iv had cards since i was about 21, (now 28) ran them up/paid them off cycle...nothing major...managable debt its just annoying because its not like i dont have disposable income??? its not like i cant treat myself occasionally without having to put it on a cred card....but i still do it! without even realising! and then i have a "lightbulb moment" and im horrified!

Ive promised myself i will be totally card free by the end of this year...well october really as thats when my cards 0% period ends and im determined not to do this again! hope i stick to it!

Good Luck!! you will do this! I look forward to hearing about your progress!!

Nina xx

Dave33

I was that person, living well beyond my means even though I have a decently paid job. Credit cards and loans were the bane of my life. In the end I was shifting money from one card to a loan just to pay it, then back again when I needed to pay the card. Talk about a viscous circle :eek:
It turned out to be a blessing in disguise (a good disguise admittedly!), becuase I missed a few payments and generally managed the credit very badly and a result my creditors wouldn't renew the cards on expiry so I am now no longer able to use them, thank god!

At the end of last year I decided to sit down and take a long hard look at my finances. I got my house / life insurance, TV, phone and broadband cheaper by switching suppliers. I am now a lot happier and have my finances under control. I still owe a lot (approx £17k) but I have taken the first steps to becoming debt free. :T

Lucy1010

I'm so glad I'm not the only one, thank you to everyone that posted a reply, it is so encouraging to hear your stories.

Spending is just like a drug for me but I've put myself in my own 'rehab' and hope to come back here to celebrate debt free day.

I am really interested in hearing more stories like this so please feel free to tell yours.

Thanks

Lucy x

TakingControl

You will all be that debt free person now you had your LMB :T:T

When I had mine, I had £45K worth of debt, granted a lot of that was for my ex and when we split, well everything was in my name.....

It took 3 hard years but I am debt free since November 2012.

Just keep at it and you all will be debt free soon and having my first pay package all to my self was fantastic :D

Lucy1010

TakingControl wrote: »

Just keep at it and you all will be debt free soon and having my first pay package all to my self was fantastic :D

Thank you, I dream of this day :-)

Michelin

TakingControl wrote: »

You will all be that debt free person now you had your LMB :T:T

When I had mine, I had £45K worth of debt, granted a lot of that was for my ex and when we split, well everything was in my name.....

It took 3 hard years but I am debt free since November 2012.

Just keep at it and you all will be debt free soon and having my first pay package all to my self was fantastic :D

Did you do this by going onto a DMP?