Standing in front of a mountain

Enjoying_life_more

Hi

I noticed you had visited my diary so thought i'd pop over. I empathise with much of your situation - I'm of similar age and brought my family up on one wage and until late last year always thought "something would turn up" to sort out my financial situation - I then realised that it wouldn't and it was up to me to sort my situation. I am now tackling my debt/morg and living as frugally as possible. I went through a period of not sleeping, making myself ill ( I still do have the odd panics about it) but life is short and it's really not worth it. I decided to explore what I would do in the worse case scenario i.e. I had to finish work due to ill health etc and realised that in this case I would sell up, pay my debts and rent - it's not ideal I know and fingers crossed that wont be needed but I think if you can plan for the worse case scenario it helps you to stop the worrying which doesn't help at all and focus on clearing your debts. I understand some people may be horrified at my post and i'm no expert ! my tips are to live as frugally as you possibly can within a strict budget (it's working for me) and no more borrowing.

Wishing you all the very best of luck !!

Brenny

Hi.

One thing I've noticed is that you posted along very similar lines back in December so you may need better motivation to succeed.

I know you are reluctant to post a SOA because you 'know where you need to cut down' but wouldn't seeing it in black and white and knowing others are supporting you achieve your stated aims, be motivational?

I think that, at the moment, you will still be tempted to go for that unnecessary purchase....but if you clearly state the amount you are saving each month, it will be harder to overspend.

getmore4less

A posted SOA and a spending diary is the way to go with regular updates showing progress.

Also makes sure you have the spends nailed, you may think you have them but plenty of SOA have room to make further cuts when analysed impartialy by a few people.

The biggest risk on the SOA is that things are missing, others may spot them and the spending diary finds them so you can update. and plan accordingly.

Ninnins

Thank you ELM - I have considered the "worst case scenario" as have you, and yes, it helps in a Gestalt therapy sort of way - confronting your fears! I read your diary with interest and find it very motivting - as does your name as I definitely want to do more of that!

Brenny, GM4L - I have come to that realisation - people can help more when they can see what they're dealing with - I prepared a SOA but it is a "new and revised" version of how things will be in the future, not how they have been in the past! Will post soon.

You are soooooo right in that I need better motivation - hoping that "something will come along and fix it" just doesn't hack it anymore.

getmore4less

Ninnins wrote: »

Brenny, GM4L - I have come to that realisation - people can help more when they can see what they're dealing with - I prepared a SOA but it is a "new and revised" version of how things will be in the future, not how they have been in the past! Will post soon.

You are soooooo right in that I need better motivation - hoping that "something will come along and fix it" just doesn't hack it anymore.

THe SOA is a dynamic thing as soon as you think thats it, something changes, sometimes for the better, you get a new deal on something, a pay rise, sometimes it is something you forgot and you hav eto cut back soemthig

The important thing is that it ballances and you track that it is reality, if not it gets changed. You see the trade offs, overspend here cut back there, underspend and you get to spend/save a bit more elsewhere

The big difference is you have the tool to stay in control.