Time to sort myself out and be debt free

[Deleted User]

Hi my name is Rhys and I'm 24, I live in South Wales with my wife and 2 children, I have pretty much been constantly in debt since I was 18. Up until 18 months ago it was never to bad, usually small overdraft or late paying off my credit card the odd month. I have always been very bad with wanting and buying things that fI can't really afford but as I had no responsibilities I never thought twice about it. About 18 months ago I got even worse with wasting money and now I owe £7500.
I've come to a point where I'm feeling so down and worried about it that I need to sort it out. I need to stop buying things on credit and need to clear my debt. What's making this all worse is that my wife doesn't know about the debt. I hate lying to her but things are bad between us already and I'm worried this will push her over the edge. I've spent hours today working through my finances and with careful budgeting and if I can reign in my spending I should be debt free in 3 years.

I thought that by starting a diary on here it might help me to Keep control of things.

I apologise for the long post lol

Cheers, Rhys

Calling14

Good luck I started last January worried sick about how I was going to make repayments. Diary and the support of the good folk on here and advice have helped me immensely.

If you are open with yr wife it may not be as bad as you think plus surely she needs to know to help your budgeting.

I will pop in and see how you are getting along now and again. Try not to worry, use your energy more effectively at tackling yr debts x

WelshKitty85

Hi Rhys, well done for confronting your debts and posting on here.

Have you done a full statement of affairs? If you post one on here, the good mse folk will suggest areas that you can cut back. Alternatively, if you don't want to post it online it is still a good idea to do an soa for yourself as I find it helps to have it all down in black & white. You may also find that confronting you wife once you have a plan in writing to deal with your debts will go down easier then you think.

Good luck with it all.

pantherchick

Hi Rhys.. Every little thing you do will help your debts. check out all your old unwanteds and get them sold. fleabay, carboot etc, it all adds up use the money to nibble away at the biggest debt.


We are all in the same boat, it helps to have friends on board with paddles.... hope you eventually get to tell your wife, maybe she will cut back and help out too... much love pantherchick x