DFW Newbie .. im going to cry

Irish_Paddy

yea i have a years breakdown cover paid for with AA .. summit like £100 for the year grr wish id seen this

MrsTinks

Right you want our of debt? Buy a cheaper handset and SELL the £500 one and cancel that insurance! Without monthly savings included you would instantly get rid of your capital One and Vanquis debts. Just like that!
Next time you upgrade then upgrade to a free handset but one you like and it won't have cost you a penny! When you no longer have debts then you can start looking at these £500 handsets again (And this comes from smoeone who's had PDAs for the last 4 years just because they were cool... OK so I had a sweet deal going with O2 as at some point they stupidly upgraded me to business account giving me great rates and even better upgrade prices...)
As for your mobile phone bill - My family live in Denmark and you know what? I either talk on MSN to them or I write them a letter. You do NOT have to call them for 15 minutes every day! Once a week for 10 mins will be just fine - and if they wanna talk to you more than that then they have YOUR number! £100 is excessive to say the least! If you spend more than that normally then you are currently spending between £1200 and £2400 (if the max normal bill is £200) You can pay of your HSBC card with an extra £100 a month in less than a year. Just something to think about!
Daily food... you need to work out how much you spend... £10 a day is £300+ a month... You can easily live on under £100 if you stop buying ready meals and pre-packed lunches. Pop over to the OS board for some tips and ideas
SO if you can cut these things down like so:
Mobile bill: £100 to £40 = £60
Food bill: £300 to £100 = £200
Mobile insurance: £9 to £0 = £9
Gym you have cancelled = £60

That's £329 we just found towards paying off your debts... Nifty huh?

Do a spending diary and if you find it hard to stick to a budget then use the Jar Method - 5 jars - divide your monthly budget into the jars with one marked week 1, week 2 etc and one marked Treats. You can guess how it goes right?
And sell the mobile to pay the two credit cards off - I bet you can be debt free way before you think

jo1972

Irish_Paddy wrote: »

For normal daily food.. gosh i have no idea how much i spend .. but am guessing maybe £10 - £15

:eek: :eek: :eek:

That's between £310 - £465 a month :eek:

I don't even spend half that and there's 5 of us!!!

This has to come down straight away, you need to start making your lunches to take in with you. Cook from scratch if you can - I know if you're by yourself that can be irritating but you will save shed loads of money!

Definately start writing down every penny you spend and see where it goes.

Just because your car tax isn't due till November you don't just forget about it. Divide it into 12 months and budget for it, same as MOT, birthdays, xmas etc. You really don't want a big bill to turn up and you're not prepared, this is where everything goes **** up!! Budget and you will have it there ready

redsquirrel80

Second the recommendation for the OS board - especially the grocery challenge. I've been doing it for a few months and if you look at my signature you can see what I've spent (just for me).. and I have eaten pretty well. I probably spend another £10-15 a month on the occasional lunch from canteen/ shops but generally take my own.

Definitely keeping a diary and/ or all your receipts will help you keep track of what you're spending. Good luck!

dancingfairy

Yep - you need to include everything in your SOA - we mean everything.
Also I am guessing that as your 25 and earning a pretty decent salary with fairly cheap rent and bills that you are suffering with 'keeping up the jones' syndrome. You really can't afford to live the lifestyle you're currently living and in the end it will crash down around you. The people you are comparing yourself to a) either have exceptionally rich parents b) earn a huge amount or c) owe a small fortune and are hiding it.
Stick to your own dreams and wishes - to be debt free and be able to start a family/buy a house/go travelling (whatever it is you want to do) etc and keep that in mind and iognore everyone who 'has it all'.
Maybe a small picture in your wallet so that everytime you open it you think - if I buy this coke/coffee/ready meals/magazine/pint/pack of cigarettes it is taking me further away from my dream house/dream round the world trip etc?

P.S Doesn't Martin have an article on how to phone abroad cheaply?

Good Luck

Verbatim

And can I just add stay away from spending on the cards. if you intend to use the £150 "spare" on the cards to live for the rest of the month then you're just adding to your problems. Every £1 on the cards will cost you much more when interest is added on to interest from now until the last penny is paid off.

SOooo can you find enough money to eat between now and 20th when you're paid? Any forgotten accounts, anyone owe you a few quid or at least a meal ( ), money down the side of the sofa, or in a jacket or trousers you haven't worn in a while, penny jar or can you borrow a tenner from a good friend or relative? failing that check what food you've got in and work out an imaginative menu plan. The Old style board members on here are ace at suggesting meals from strange ingredients and thin air.

Also could you get an evening job in a restaurant where you'd get a meal?

Seriously though cut up the cards or you'll continue to increase your debt rather than make a start on decreasing it.

eponymous

you can hold conferencing calls, so if you get all your mates together, you can have a group chat - saving time and money. Any without Skype, you can send Skype Packs from The Works back home for £1.25. They contain headphones, driver disk and a skype Out voucher. You'll get a free drink worth twice the price for it!

I also recommend http://www.lifehacker.com
It's full of other money - and time - saving tricks