Living in absolute DENIAL

Barbeduk

Hi Lucy, your story sounds so familiar! We worked our butts off last year to repay our debts and cancelled everything we could to save money. We had a couple of weekends away camping and that was it.

We are still working extra hours but now it's to save money so we can afford a nice holiday. The credit card is paid off in full each month my direct debit.

One thought, if you tell your OH the full story could you move in with him and rent out your place?

Good luck, you can do it.

Time_to_face_the_music

Truly inspiring initial post and thread Lucy :T

We were in a massive amount of debt 11 months ago due to a flood in our home which unearthed a ton of problems which were not covered by insurance. After the actual insurance pay out, we ended up spending our entire salaries for 6 months then still being left with £37,000 to find. It all went on cards and loans and soon turned into £81,306, our starting debt.

Until my LBM which happened this time last year, I had no true idea how much we owed and estimated it at around £60K. Finding the true figure was one of the worst moments of my life but also one of the best things that has ever happened to me. It took me about 5 minutes to get my OH onboard and off we set on our debt free journey.

11 months down the line, we have paid off over £20,000. Yes our debt is still huge and currently stands at £62,319 but by the end of this month, we will have paid off 25% of the debt and that is a wonderful milestone to us.

You can do this. Your desire to be debt free shines through and your journey has started. Go Lucy!

Lucy1010

Barbeduk wrote: »

Hi Lucy, your story sounds so familiar!

One thought, if you tell your OH the full story could you move in with him and rent out your place?

Good luck, you can do it.

Thanks Barbeduk, I have thought about this.... and I do need to think about it some more.

He is currently selling his house and once this happens (if ever, it's been on the market for over a year) then the plan is to move into my place and put mine on the market whilst we look for a place together - but I can't be counting chickens - this might not happen for months yet.

I do fantasise about how quickly my debt would reduce if we were living together but I don't want to push things for the wrong reasons. I'm sure he'd think that's the only reason I was doing it if I confessed to £11k debt :rotfl:

Lucy1010

Time_to_face_the_music wrote: »

Truly inspiring initial post and thread Lucy :T

11 months down the line, we have paid off over £20,000. Yes our debt is still huge and currently stands at £62,319 but by the end of this month, we will have paid off 25% of the debt and that is a wonderful milestone to us.

You can do this. Your desire to be debt free shines through and your journey has started. Go Lucy!

WOW, I need to keeping hearing stories like yours (as others do in my siutation) thank you very much for sharing :-)

suze1_2

Hi Lucy1010, I owe about £1800 more than you and am planning to tackle it the same way as you - using the calculator & overpaying wherever possible! The thought of paying these debts off until 2016 makes me so mad with myself!!!! Hopefully that will spur me on to do whatever possible to get rid of them before!! Whatever happens, I feel like I've had a massive mind shift, which can only be positive! :-)

TrickyWicky

TakingControl wrote: »

When I had mine, I had £45K worth of debt

It took 3 hard years

You cleared £45k in 3 years? How on earth did you do that?

Lucy1010

suze1 wrote: »

Hi Lucy1010, I owe about £1800 more than you and am planning to tackle it the same way as you - using the calculator & overpaying wherever possible! The thought of paying these debts off until 2016 makes me so mad with myself!!!! Hopefully that will spur me on to do whatever possible to get rid of them before!! Whatever happens, I feel like I've had a massive mind shift, which can only be positive! :-)

The great thing is you can come here whenever you need support.

I'm staying away from the high street and hitting the delete button immediately on any emails enticing me with 10% off or 25% off etc etc. I'm currently unsubscribing from all online stores that email me daily - hypnotising me into further debt.

Online shopping has been a huge contributor to my debts, so easy to fill up that basket, get 10% off or free delivery, pay with the card and forget about it.

I remember the days when I couldn't wait to get home from a shopping spree to try my new clothes on but how times have changed - more recently I've brought home carrier bags and have not even bothered to enjoy my purchases, the bags have sat around for at least a couple of days! Disgusting waste of money (or Barclays' money I should I say)

SassyLou

Can you post your Soa?

bluffer

Lucy1010 wrote: »

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

well done. the biggest part is admitting what is reality and what is perception may not be the same thing.

by the way, keep the credit cards that reward you in some way. hint, this board! whether its nectar or tesco for points or cashback. choose wisely then use wisely. its the best way forward!

amyloofoo

Congratulations on facing up to the problem and being so determined to tackle it - wishing you all the best (I know you can do this!)