Please tell me i'm not a lost cause

12_month_challenge

Thankyou enthusiastic saver
I am definately in a more positive frame of mind since finding the courage to actually admit that we need this to change and change NOW.

I do include pet food in my shopping bill and I have been looking at maybe buying bulk dry food as opposed to tinned food.

Seeing my finances written down is a real wake up call and makes me wonder what we actually do with the spare cash.

I am reading as much as I can on here and picking up lots of tips.

Thanks again

splodgethefirst

Good morning 12 month saver!

I'm really happy to see you're feeling positive! a couple of things you might like to try are YNAB - you need a budget - it's a program for the computer which helps teach "zero sum" budgeting. FyreWorm is a very staunch advocate of it.

I recently discovered a first direct savings app called "saveapp" - if you have a smart phone it's rather like MArtin's demotivator (http://www.moneysavingexpert.com/shopping/demotivator/) but on your phone and can remind you what you'd be saving by not buying frivolities (i've set it up for not buying lunches out!)

I also keep a list on the notes section on my phone of what i've spent money on, and subtract it from the total allowed in that category. I've got £90 left for petrol this month for example.

12_month_challenge

Thanks splodge
WOW I just did the demotivator for things I waste money on every week (magazines, etc) and just discovered I waste over £500 per year
What a shock

(note to self) read online in future

It just goes to show how you dont account for things like that and the money just dwindles

12_month_challenge

Have transferred the small CC and have cut it in 2
although this debt has moved over to somewhere else, its a little cheaper and one less to worry about.
Am about to do some more juggling and try to get all CC debt onto 4 instead of 6. This will hopefully be easier to chuck more money at them and hopefully will get a 0% deal offered so I can bring a huge chunk back
again to 0%

This is scary

gallygirl

12_month_challenge wrote: »

I have been reading this forum for a very long time and have finally decided I need to wake up and smell the coffee.

You can't afford coffee

12_month_challenge wrote: »

This is scary

Yes, it is, but think how much scarier it would have been if you'd waited another year, till the £400 'spare' in the budget was also committed to regular bills :eek:. Your debt is now at the highest it will be :T, every month now will see a reduction :j.

You've been given lots of good advice so far and have taken it all on board so well done . The spending diary is great for accounting for every penny. When I did it I kept a note in a small book rather than on a phone. The 'search of shame' while I looked for the book (I always filled it in BEFORE making the purchase) was often enough to put me off, plus I had a column called 'I Don't Really Need This' and having to tick that usually curbed any remaining urge :rotfl:.

You do need to have some small treats and I saw you have a takeaway most weeks. How can you do this but keep the costs down? If you can't cook it yourself (and there are great recipes around) then can you save a few £'s by cooking your own rice/chips etc? If you save £2.75 then pay £2.75 off your next target debt - and keep a note of it so you can see how quickly all the little non-spends add up.

Instead of buying mags in shops look out for the £3 for £3 offers on here (sorry, can't find the link at the moment). Then they come through the post which is always a treat . Remember to cancel once the £3 DD has come out.

You have worked out when your debt free date is - now work to bring it forward. How much does that equate to per day, hour and minute? Would you sooner have £5 to spend on lunch out or knock a few hours off your debt free date? Make a £5 payment instead.

Meal plan and use coupons - there are threads on here with links to lots, and use supermarket loyalty cards. Again, if you save 75p, make a payment.

If you have any slack in your bank account at all then log on every day and 'Tilly Tidy' your account - so if the balance is £xx.82 then overpay the 82p to keep the balance tidy .

Look out for the payment a day thread on here, do paid surveys etc.

Basically, in addition to your large monthly payments, little and often is the key. It keeps your motivation going and does add up. Keep going :T.

Finally - do speak to your children about their contribution. They may be on low wages but I bet they have more disposable income than you do . You are not doing them any favours in the long-term by subsidising them as much.

VanyaHargreeves

Hello!

You have already done very well.

Don't worry about being embarrassed or scared - trust me, everyone has been there, everyone has seen worse cases and you have no cause to be embarrassed. You're here trying to tackle the problem, your head is out of the sand and that is what matters.

Dealing with your debt will be a long hard slog, but it's most certainly doable.

Re: your kids' contribution, I would definitely agree that you should consider raising their contribution amount. If I was only paying £100 a month for a roof over my head/cooked meals/a clean house etc, I'd be laughing! Currently I probably pay about £650pm for food and a hovel of a house!

Good luck and make sure to keep us updated. :beer:

12_month_challenge

Hi all (again)

I am so sorry I feel like I am being a nuisance but I have done my budget and looked long and hard at my finances.

I have juggled CCs around on the deals I have at the moment (one small one transferred and cut up already, feels good)

I have done another snowball using only the CCs and not the loans. The loans are fixed monthly payments and are paid every month DD. I dont seem to notice these too much

So I have snowballed adding every extra penny I can to the CCs and it shows me that I can clear these in approx 33 months.
I have put a copy of my snowball on my emails so I can check it regularly and see my progress.

I get paid this week and am already looking forward to paying CCs and updating my balances on my signature (how sad am I lol)

I have meal planned for the week also.

I think i'm addicted to this already

Thankyou again for all your lovely support and for not judging me.

splodgethefirst

12_month_challenge wrote: »

SNIP

I have juggled CCs around on the deals I have at the moment (one small one transferred and cut up already, feels good)

I have done another snowball using only the CCs and not the loans. The loans are fixed monthly payments and are paid every month DD. I dont seem to notice these too much

So I have snowballed adding every extra penny I can to the CCs and it shows me that I can clear these in approx 33 months.
I have put a copy of my snowball on my emails so I can check it regularly and see my progress.

I get paid this week and am already looking forward to paying CCs and updating my balances on my signature (how sad am I lol)

SNIP

This is brilliant progress! Really well done! Maybe you feel like joining us womblers collecting loose change too and throwing that at it ? :A

mumtoomany

Hi, you mentioned looking at dried dog food. If you have a Home Bargins store nearby, try them. They sell a 15kg bag for £7.99. Tryto avoid the sweet aisle though! Good luck,
M2M.

12_month_challenge

I have just realised too that my snowball starts from February so when I get paid this week I will be ahead with my payments already
I have learned so much since yesterday, why did I not do this sooner?

The way I was feeling yesterday compared to now is amazing.

I can actually see this is acheivable for us.
I am now officially an addict of debt busting lol

Thankyou