Debt free by December?

Lou89

How many of you had a new years resolution to clear all of you debt?

Me and my boyfriend did... and its almost August now and we are hardly any further down the line due to some minor set backs such as him losing his job and me being on such a low wage, meaning more outgoings than income and resulting in a huge amount of bank charges.

Luckily he has found a new job paying a fantastic wage and i have a pay rise to look forward to in December... the problem is, his start date isn't until mid september and we have seen a house we really really like and would love to put an offer in if it is still around in December/January time.

Our debts total about £15,000... we need to clear them and save up for legal fees and as much towards a deposit as possible by the end of the year. Then 2008 will feel like a breath of fresh air!

Will anybody join me in my fight to pay off the bills by the year end?

Madnessa

Hi there

just wanted to wish you loads of luck and I am trying to get my debt paid off by the end of the year. I've paid off about £2000 since my LBM (around the middle of June 2007) and still have just over £4000 to pay off.

Keep us posted on your progress!

Lou89

Thanks!

I know it may sound very sad but i got paid today and can't wait to go home and pay the bills, I think this website is a fantastic way to support and encourage people.

Broken_hearted

My target was £10,000 by now, it's changed to under £10,000 by December. Life is what happens when your busy making plans or so they say.

Lou89

I came into the relationship owing nothing, i have put all my wages into these bills and paid off the £500 credit card once already... Then we had the setback of him losing his job so unfortunately the credit card that was ment to be chopped up but instead was saved "just in case" was used to its max.

My family know of our money situation and all think im silly paying off his bills and that i am being taken for a ride. The truth is that i really love him and want nothing more than a house together in which we can spend the rest of our lives. Im getting so much agro from my family saying that he should take any job that comes his way etc etc. At the moment his start date isnt until mid sept and its with a really good company paying a good wage. In the mean time he has looked for temporary work but feels it will be a waste of time so has resulted in putting everything on Ebay - This brings in a good amount of cash but not a huge amount.

I have decide to get my priorities in order and not get my hair cut and coloured (costing £50) until he has a new job... and not buy new contact lenses but make these last and when they finally die a death wear my glasses - my highest priority is to get the bills paid although my family tell me im stupid and this is wrong.

At the end of the day i feel like im doing the right thing, i know he would support me if i didnt have a job.

I have given up loads for him - i moved 360 miles away from my family and friends to be with him, i left college moved down and got a job, i put all my savings into buying him the biggest fish tank i could find for christmas (before we realised how bad our finances were). Im not going to sit here and let him struggle because with a rubbish credit record and £14000 in bills we would never get a mortgage.

I have also taken on the cleaning at work and at another office down the corridor - which together provide an extra £80ish a month on top of my £536 wage packet. The trouble is i am 17 and dont even qualify for £5.45 min wage

The bills are the only cause of the few rows we have:( I got paid yesterday and got upset because one minute there was a nice lump sum in my account, the next there was nothing what so ever (apart from £60 - a payment for later in the month for a credit card once we receive a statement) This lead to a row - whereby my boyfriend told me he didnt expect my to pay anything and that it is all greatly appreciated and gave me a huge hug, row over, friends again... but its depressing that our balance still stands at nothing.

Rant over - Im not wanting sympathy, just needed to get that off my chest, im fed up of the only people i can talk to other than my boyfriend being my family who don't agree with the whole situation and can't get off their soap boxes. Any comments are more than welcome - good or bad. And any suggestions as to how i can make more money (legally and without selling myself haha) would be greatly appreciated.

ltm07

Good luck & you sound like you have a strong relationship. Once your OH starts new job then you will soon start to clear your debts. All the best.

sammiboo

Good luck with shifting that debt.

My debt racked up mostly after a car accident and wasnt entitled to sick pay so had to live off my credit card while i was off work for a while.

Last year I owed almost 16k. I currently owe about 9.5k so its coming down some and in the middle of house moving!!

Paying off your debts is addictive but it does play with your emotions. Good feelings when you pay off a bit more, bad feelings when you know you cant afford things you would like.

Definately a learning curve!!!

betti911

Again good luck in your debt busting

I like having deadlines for things. I want to be able to sit with a drink on New Years Eve 2007 and think that I've made a difference.

I'm aiming to half my total debt by the end of the year. Want to clear my carloan and only be left with the dreaded personal loan (YUCK).

racer256

Good Luck with killing your debt!! It can be done and you can stay away from credit too. Good Luck for your partner & his job hunting. Follow your instincts don't be swayed by your family & friends. They are their to look out for you but they don't realise you are can look after yourself. Best of Luck.

GreenNinja

Hi, just read your post and wanted to say hope your boyfriend realises what a lovely person you are and how much you have sacrificed for him. It can only make your relationship stronger in the long term. XX

boadicea_2

Honey, debt is a hell of a burden to carry alone - even if your OH is due to start mid-September, I would still say get 2 weeks of temp work. You could put all that money to clearing off debts, as it's "money you weren't counting on", which would bring that mortgage that little bit closer...:D