Lightbulb moment urgently required

Debtfree2018_2

Any advice greatly appreciated.

I have got a lot of debt, but I can service all payments and should be able to pay it off within 3-4 years.

However I cannot stop spending, using credit cards I had cleared, as you can see not had my lightbulb moment yet....I know that I could be in big trouble if I don't stop spending, but just can't.

bloolagoon

Goals are important, what is your goal?

Freeze those cards or cut them up in necessary

crazy_cat_lady

Have you tried keeping a spending diary? It can be a real eye opener in terms of seeing exactly what you're spending and where.

Debtfree2018_2

Not got a specific goal, debt free for sure, but it seems so unbelievable far.

Spending diary is a great idea, I check my banking every day,but actually writing it down would put things into perspective

crazy_cat_lady

It really does - it's amazing how quickly the odd couple of quid here and there adds up. I'm at my best when I'm keeping a spending diary...

sourcrates

Cut cards up, throw them away, never use them again.

Only sure way to do it my freind !!!

Movingon5464

The advice would really depend on your situation and stage in life. Think where you want to be in 5 or 10 years time. Is that going to be possible if you continue spending and possibly build up even more debt. If you are currently renting and would like to buy a property in the future then go on rightmove and get motivation - maybe print off details of properties you like. Maybe you want to start a familyfamily in the future - then start a list of all the things you would like to give your children eg. A house with a garden so they can have a paddling pool or holidays to Disneyland. You could create a vision board with pictures of what you want out of life. Also spend some time thinking of what life could be like if you don't change. You could also create an anti-vision board too with pictures of places you wouldn't want to end up living eating beans on toast every night. Believe me paying off debts when you have children is terrible as you feel so guilty that they are going without things because of your past mistakes.

cakeforbrains

What do you buy?

Aphidgirl

I use to have 5 credit cards, make payments to my cards at the beginning of each month then be spending on them again by the end of the month. I ended up entering a DMP so all the cards/accounts were frozen and I couldn't use them anymore.

That was the start of a LBM for me as I realised how stupid it would be to try and get any more credit whilst already paying off 9 creditors through the DMP. I finally paid off and cancelled my one remaining overdraft facility last month.

For me, I just don't have any credit cards or overdrafts now so I can only spend what I've got in my current account, nothing more. If I tried carrying a credit card for 'emergencies' I'd end up using it to buy a round in the pub. Getting to know your own behaviour patterns really helps, if you can't trust yourself not to overspend then just leave all the cards at home and carry cash only. Good luck!

Debtfree2018_2

Very good advice.

SOURCRATES - I don't actually use the actual cards, all online, which I guess makes it worse. I need to look into stopping access.

MOVINGON - amazing advice, I especially like what's the worst that could happen, I really need the wake up call!! I have got a mortgage, but I think it may be too late for me for kids, think a result of the choices I have taken.

CAKEOFBRAINS - clothes, shoes & handbags, nice food

Debtfree2018_2

APHIDGIRL-very interesting and good advice, it sounds pretty much like me...credit is so much easier to spend...