Seemingly still endless

7839matth

Hello all,

I have mostly lurked around this site but made the odd post last year, i set myself up with a DMP last year with SC after reading alot of good advice on this forum. On the whole, things are going fairly well, I've had to adjust the DMP payments down a little a few months ago, as i was living to a budget so restricted there was zero room for error.

The nagging feeling that i have in my head right now is that something is going to crop up, and i won't be able to deal with it.

For example.

Wage in - £1900

House running (All bills and mortgage) - £850

DMP - £350

Secure Loan - £180

Monthly fuel bill £150

Monthly food / Toiletries etc - £200

Car insurance £50

Phone - £30

---

This leaves me with £90 in the month to perhaps use to occasionally break out of the misery of being in debt and enjoy myself a little. But £90 can easily be lost through a flat tyre, or something in the house breaking.

I feel like i'm living every day waiting for the next thing that's going to zap the last of my pennies, and if something expensive was to break then i would be knackered.

How on earth have some of you guys done 5 years of this

Shar3105

I got depressed. After all the bills and loan were paid, I had £40, no savings etc. I ran more debt because of it. My new partner took a look at my budget sheet, rejigged it and freed up £120 for me, but, given that I need to clothe me and my 2 children, thats still not enough. My kids desperately need clothes, especially my eldest. She's wearing stuff thats 2 years old and fits her little sister but I just cannot afford to buy stuff. I dont smoke, drink or go out - when we go out for date night, my partner pays. I literally just go without because there doesnt seem to be any other way right now. 5 years, another 5 years I've got this life.

Sorry

mum2one

7839matth wrote: »

Hello all,

I have mostly lurked around this site but made the odd post last year, i set myself up with a DMP last year with SC after reading alot of good advice on this forum. On the whole, things are going fairly well, I've had to adjust the DMP payments down a little a few months ago, as i was living to a budget so restricted there was zero room for error.

The nagging feeling that i have in my head right now is that something is going to crop up, and i won't be able to deal with it.

For example.

Wage in - £1900

House running (All bills and mortgage) - £850

DMP - £350

Secure Loan - £180

Monthly fuel bill £150

Monthly food / Toiletries etc - £200

Car insurance £50

Phone - £30

---

This leaves me with £90 in the month to perhaps use to occasionally break out of the misery of being in debt and enjoy myself a little. But £90 can easily be lost through a flat tyre, or something in the house breaking.

I feel like i'm living every day waiting for the next thing that's going to zap the last of my pennies, and if something expensive was to break then i would be knackered.

How on earth have some of you guys done 5 years of this

I've been in my dmp for 2 1/2yrs and it's a long haul. It sounds like u might need to rejip your budget, have you looked at what they recommend for each spend, it might be that you can increase spend and use it for something else..

If there is a major expense there is always an exception that you reduce to a min payment or miss a month, xx

rockm87

I'm not on a DMP, but I self manage my £5k debt, as well as being in charge of the joint expenses and bills, so I have massive pressure on me and our tiny budget.

But I find inspiration in blogs (such as mr money mustache) and listening to dave ramsey (free) podcast to keep me going, and knowing once the debt is gone...all the money is mine!!!

you need to change your mindset, treating money like it is a 'treat' is why you got into debt in the first place, so feeling depressed without it isnt going to help you.

maybe keep a chart or something visual of how far you have come, watching your debt total drop may keep you guided.

I get a kick of out freebies, or being frugal, its a big two fingers up to the system, and makes you happy that you dont need money to be happy.

youre doing great, its hard for a bit, but you're doing better than most!

ReadingTim

There's quite a useful bit in the "repay debts or save?" guide (here) which might deal with your comment about

waiting for the next thing that's going to zap the last of my pennies, and if something expensive was to break then i would be knackered

because how often does that really (no, really) happen? Yes, you could hit the kerb and blow your tyre. Does this happen often? And if it hasn't happened often in the past, any reason why it's going to happen more often in the future?!?

Do necessary appliances suddenly stop working? Or do they sound like they're on the way out for a while before actually giving up the ghost? How many bills are really unexpected? Most arrive monthly or annually, around about the same time each month/year - they have done so in the past, and will do so in the future.... Christmas happened on 25th December last year, and I reckon it'll happen around about the same time this year. So plan accordingly.

I appreciate you feel like you're forever teetering on the brink and it will only take on thing to push you over. But, as you yourself admit, things have gone fairly well so far, what reason is there that this will change?

sourcrates

Have to echo the above, i mended my washing machine 3 times, and my dryer twice, whilst in my IVA.
Luckily all the faults were due to parts that could be bought and swapped over fairly easily, did all the work myself, with parts off the internet.

However the "brain" of the washer has now gone wonky, and that part costs more than a new washer, even off eBay, so, reluctantly, a new one has been ordered.

I would not worry too much about what "might" happen, carry on as normal, and deal with these issues, should they ever crop up.

dancingfairy

Part of the fear can be alleviated with an emergency fund but also you will need to make do and mend, things might not get fixed immeadiately or perhaps you will need to try and fix small things yourself (if you didn't already), people give things away on freecycle (sometimes white goods I believe), there are charity shops/recycling initiatives by local councils where you can pick up things cheaply etc, etc...
If necessary you could stop/reduce payments to your dmp or in a major emergency take out more credit (if your survival depended on it), also I hope you have buildings and contents insurance in case the absolute worst did happen (fire or floor something).
People find ways round things and I think you'd find you'd be a lot more resourceful/able to cope that you realise
Having said that, if it gives you peace of mind then maybe it's worth reducing your dmp payment and extending your dmp slightly in order to have a little extra each month to put away for emergencies?
df

dazla

I've been on a dmp for four year, have one year left to go. It has been incredibly hard going. I am left with only a few pounds at the end of each month, as more often than not, things crop up, like a vets bill (and no, I have no intention of getting rid of my dog as this is the only enjoyment I have). Sometimes I have had to miss a dmp payment entirely for a month. I have no social life what so ever. I pay £600 a month. I make use of ebay and charity shops to get by. The only thing that has kept me going is the thought of being debt free in 12 months