I want to be debt free and start saving money.

overspending

I am so glad that I have found this website, especially this forum. I sat down today and wrote down all my debt. It was shocking. Not only do I want to be debt free but also learn to handle money. Something I have never learned before. I come from a well-off family where money was never an issue, but with 17 I moved out and started supporting myself.

I don't have any bills to pay apart from my phone contract and mobile broadband. My monthly net salary is £1650.

Monthly incomings:
Salary - £1650

Monthly Outgoings:
Mortgage/Rent - £0
Council Tax - £0
Gas - £0
Electric - £0
TV License - £0
Phone - £45-50
Mobile Broadband - £29
Food - £0
Car Insurance - £0
Petrol - £0
Life Insurance - £0

Total: £74-79

Rest: £1571-1576

My current debt:

Creditcards:
Barclaycard Initial Balance £814.49 (limit £1000) APR 29.9%
Aqua Balance £441.35 (limit £450) APR 35.9%
Capital One £191.81 (limit £200) APR 34.9%

Overdrafts:
Barclays £10
Lloyds - £0

Payday loans:
Wonga £785.93
QuickQuid £56.78
PaydayExpress £258

Online accounts:
Littlewoods £707.28
Very.co.uk £911.61

Other debts:
£2415 - No APR and interest fee.

My main priority is to pay off all the payday loans.

Moneymash

Hi Overspending,

Welcome to the diaries board, you will find lots of help and inspiration here.

So your debt total is £6592.25.

What is your first plan of attack and what when you are debtfree will you be saving for?

beanielou

Think you are right to attack pay day loans first.
You are in a very lucky position to have so few outgoings.