Yikes.... better face reality!

PositivePoppy

OK so here goes. I have had debt since being a student, and haing graduated, worked hard for a pretty great teaching salary, I paid off over £20K. I have always had little bank loans and a few credit cards but never been in any trouble. This gave me a false sense of security. The teaching job however made me ill in the end with stress so I gave up that lifestyle and the money. I spent the last year of it saving and took a year off to live abroad. All seems great.

When I returned, 5 years ago now, I hit a problem with a delayed Police check so I could not work with kids for 3 months. This and the unexpected costs I incurred travelling (all spent in the knowledge I had great qualifications and experience and would get work immediately!) created a situation where I needed loan just to live. I had no income but the bank lent me the money anyway.

I then went on to begin teaching in a supply capacity. Things settled and I could just afford the payments, rent etc. I decided to retrain and become a reflexologist. AS the years have passed, I have just earned enough to pay the credit cards, loan and living expenses, all without holiday or sick pay.

Now, however, since moving to Brighton and away from London teaching rates, I have come unstuck. There is not as much work, it pays less but the rent etc is the same as London. I am working 6 days during term time, but September was a washout. I always considered myself OK if my cashflow was OK in my current account and I was paying things off on 0% etc. BUt SEptember put me in debt in my overdraft and now I can't get out of it. Work has slowed down again and I am terrified.

The true extent of my debts totals over £20K again, and now i'm forecasting being overdrawn by £1000 by the end of this year.

I am desperate to find a more secure job, but definately not as a fulltime teacher. I don't have enough clients for reflexology yet.

I am completely stuck in myself and don't know what to do. I need cash injections fast and a long term plan to pay my debts off properly once and for all. I have had such a comfortable mindset about being in debt but it's finally it me I'll be in the crap very soon.

Help:eek:

Notepad

Hi PositivePoppy :wave:(the username itself speaks volumes, you can get through this!)

I've no advice as I've just joined the board too with 22k of joint debt but I've subscribed to your diary and will be with you on your journey to a debt free life.

If I lived nearer and could afford it, I'd have reflexology as often as possible! An amazing therapy which has worked wonders for me on the odd occasion I've been fortunate enough to have treatment.

Good luck! :xmassmile

twiggy86

Hi PositivePoppy

I'm pretty new at this DFW malarkey but here's what I've learnt so far:-
* First bit of advice given is normally to post an SOA (cue someone helpful coming along and posting a link!) The helpful folks on here will then try and point out areas where you could cut down

* If your debts aren't all interest free (couldn't work out if you meant the 0% had ended) do a snowball to help you prioritise your debts to avoid paying more interest than you have to

* Set yourself a budget - a lot of people swear by YNAB (I haven't looked at it personally). But I have set up virtual "pots" in my bank account (a different one to my every day account so that I cant "borrow" money without having to physically transfer it over giving me a chance to think "do I really want to do that?") plus I've got a spreadsheet with each pot recorded

* Put money aside for things that "crop up" - don't struggle to deal with it at the time i.e. car tax, insurance etc - whilst you may want to pay it all off debts now its better in the long run as prevents you adding to the debt later

* Join in the challenges - I've started the £10 per month challenges (although I'm a wimp and only go for £5!) and you'll be amazed how little bits of money add up when you start paying attention to them

* Keep posting on here! It keeps you focussed and there's some really friendly folks on here to give you a boost and cheer you along

Wow - sorry that was a rather large ramble but I hope you find at least some of it helpful!

Good luck
:xmassign: