Debt consolidation

huguenot_2

Hi

I know that many will laugh at my relatively small level of debt compared to many on this forum, but I have been in debt by several thousands a few times over the years and seem to be rapidly slipping that way again, unless I do something fast. We are not extravagant by any means, yet since getting paid at the end of last month, paying all our monthly direct debits/SOs and never-diminishing housekeeping costs ( I have 2 children), our overdraft has today grown to over £1,000 and I am still only half way through the monthly pay cycle, will a couple of big bills still to sort. Many of you will know this situation. Each month it seems to get bigger.

I have tried different ways to budget over the years, but this still does not cure it. On those occasions we have had small windfalls and think great, we're int he clear, it soon goes down the drain. I again stress that we are not ones to buy luxuries. I have thought about putting the overdraft onto an interest-free for so many months with a credit card, clear the overdraft and start afresh with some sort of new budget plan. Maybe there is a better way. Are there any suggestions I might consider?

Thanks

Mark

tealady

Post your SOA and let us have a look.

LookingAhead

No-one will think you are daft or silly - a debt of £100 to one person could be as bad as £10,000 to another if they haven't the means to catch up/pay it off.

An SOA is a good place to start (see the thread by SouthernScouser for newbies at the front of the DFW forum) and also - do you keep a spend diary in the house? It's vital to note down where every single penny goes every day of every week when you are struggling.

I am sure we can help on here! Please post again soon.

LookingAhead

http://forums.moneysavingexpert.com/showthread.html?t=107280

Here you go.