Are You Like Rosie

ms_london

Until just before Christmas I had only a cash card, and this was all I had for 2 1/2 years - my bank wouldnt give me a debit card, cheque guarantee card etc. And as someone just mentioned using cash to pay for EVERYTHING meant I had to budget. I had no credit available to me (just the huge debt that I had run up in the few years prior, hence the reason why the bank(s) wouldnt give me any cards, credit etc) so if i overspent, it meant that I would have no money left, there was no backup plan.!!

At the highest my debt was £19K, now it stands at £5943.29 (to the penny), and that will be paid off in December - 8 more monthly payments. Granted, the money I still owe is a lot, but in comparison to the £19K it isnt, and it's also under control. I also have £900 in savings which i have saved since January, this covers a holiday in September and any "emergency" that may happen. I have been doing two jobs for the past two years, and since January have been paying £900 a month into my loan in order to be able to clear it by December. (And im on an average wage - £21K + earnings from p/t job).

Thanks to this site and also https://www.thefool.co.uk - and also down to my own self control & determination & having to budget - these tips & skills will stay with me forever, and I intend to carry on living frugally & living below my means. Im 25. I still feel as though ive missed out on things, but i am grateful i have learnt my lesson early(ish) on.

I am not bragging but I would like to share with people that might be in a similiar situation that I have been there, it is hard, but it can be done. I run up the debt by going out, not working, clothes, makeup, cds - all rubbish really.

The bank have trusted me with a debit card now, but most of the time i forget i have it and still leave my shopping in the store to run out and get more cash (doh)!!!!

Anywho, sorry to ramble.

Ms_London

ms_london

p.s my signature on my post is slightly out of date (hence why it says 9 months, and £7.5K).........

Smiley_Mum

This is the Rosie Millard I assume -

http://www.knightayton.co.uk/frameset.html?http://www.knightayton.co.uk/rosie_millard.html

As I pass Tesco every single day more or less I was spending a fortune on offers etc etc, the kitchen cupboards, freezer is just busting at the seams with stuff. So now, since the anouncement of Tescos billions in profits I shop at the local butcher, corner shop etc etc and ask myself if I really need and am going to use something. I'm running down the cupboards/freezer etc and I don't spend that much now really. I take a note of every penny I spend in a little book and put it into a little budget planner program that I downloaded off this site. I allocate each spend under different headings so I can see each week where the money is going. Very handy and since I've been visiting MSE, I've saved a lot, although I do admit at times to having a splurge I don't have a lot of debt, just a small balance left to pay on a 0% card and one that I pay off every month and that's it. Thanks Martin and everyone on here for all their tips etc etc and help/info, saved me a bomb. Appreciate it.:j

piazope

Good Debt and Bad Debt.

My 4 mortgages ensure I don't spend anything on cigs, booze, silly BMW type cars, and dining at pretentious eateries.

My extravagance is sending my children to a good public school.

Sincerely,

crana999

Oi! I'm doing just fine, thank you!

Rosie

Turning_into_scrooge

Smiley_Mum wrote:

but does anyone use cash anymore?

Top 10 reasons people overspend -

http://www.debtsmart.com/pages/article_over_spend.html

I use cash only. No cheque book or debit card or credit card at all and i haven't found it that difficult. In fact for the first time in years i feel like ive actually got control over my money :j . I know where every penny goes as i have an account on MS Money for the day to day money that is in my purse as well as my bank account for DD's etc. I keep all the receipts and book them all down into the relevent account in Ms money at the end of the day. I find i keep hold of my money allot longer doing it this way as i can actually see where every penny is going . Before i used to just slap it on the card etc. without a thought or just hand the blank cheque over to the person on the till and it not even register :eek: . This is probably a strange thing to say but i actually feel good about myself these days and using money and having the control over my finances has given me my confidence back :T

missy_brambles

I watched Spendaholics on bbc3 5 weeks ago. They asked a couple if they could live on £100 a week budget. I said 'no way could I'... thats when it dawned on me, I had no budget, I just spent what I liked. Since then I have given myself a budget of £100 a week, which I know is very very generous. I draw it out of the bank every Monday morning. So far I have saved £105 from that budget. I feel really proud of myself.... I have never watched the pennies before. My old Mum says its something I should get used to cos when I retire that how I'll have to live every day.

Jacster_2

Al_Mac wrote:

I think Martin should supply badges to those that do go for it from this site, so we can know who they are and be proud of them for stepping forward.:o

Great point Al. And these individuals should be proud of themselves too - they will be on TV, get a money makeover from Martin, and inspire thousands of viewers to do exactly what missy brambles did.

Don't pay any attention to those who have 'judged' the person on the basis of their finances. Ridiculous!

spankymonkey_2

i think what gets me about people is the way they flaunt what they have (and no im not jealous!) making out they have loads of money, but probably have everything on credit . i have a debit card and thats it.. i do buy from a catalogue if i need anything thats pretty expensive ie. for the house.. if i cant afford it i wont have it unless i save! whats mine is mine and not a on loan till paid off!

Bargain_Rzl

spankymonkey wrote:

if i cant afford it i wont have it unless i save! whats mine is mine and not a on loan till paid off!

Too right! Buying on credit not only means you never really have your head above water (like loads of people I know who don't think they're in debt, because their monthly salary payment brings their overdraft and credit card to £0 but no further!) but it also means everything is more expensive if you are forever paying interest on CCs and loans.

Besides which, there's a great sense of satisfaction (call me smug if you like ) to actually owning one's possessions.

I don't have debts of any kind at the moment (except stoozed money which doesn't count) and the ONLY debt I ever intend to get into in the future will be a mortgage.

Yes, there are people who get into debt through unforeseen events in their lives, but I have very little sympathy for those who get there through conspicuous consumerism.