My spending mode has to stop..

Beginagain

.. and it has to stop NOW.

I have been lurking on MSE for about 2 weeks now and haven't posted as yet. I have come to realise from reading other posts that I have a problem with controlling my spending and I need help to stop please.

I am putting together my SOA and will add this to this post later. I had a huge debt problem a couple of years ago and I owed about £33k on credit and store cards. When we changed mortgate provider I had to own up to having all this debt to my husband which was really shameful :embarasse and I am not proud to have had to do it. Maybe it needed something like that to make me realise I have a problem. Fortunately, my husband agreed to add my debt to the new mortgage as long as I pay the mortgage which I do now.

My problem now is that I have racked up another £17k of debt in 2 years and I am now trying to tackle this new amount.

I am currently on maternity leave from work so am not earning a great deal at the moment, hence using the credit card. I go back to work in October so will be able to make a positive contribution to paying off the debt.

I hope that by posting on MSE I will be able to be more conscious of what I am spending and get advice/support from other posters if possible please.

Thanks for reading this.

Broken_hearted

Welcome to the boards.How about writing down everything you spend in a week then looking at things you can cut back/find cheaper.

Lucy1982_2

Pop your SOA up and we'll see how we can help.

Also try keeping a spending diary so you can keep track on what you are spending and where. This can be really enlightening. I've just realised that I spend far to much in Sainsbury's at lunchtime.

You can beat this, you just need to make a few changes.

lunar

I wanted to wish you good luck, everyone here is so supportive. im sure when you put up your SOA everyone will have loads of great advice for you.

izzybusy23

"My problem now is that I have racked up another £17k of debt in 2 years and I am now trying to tackle this new amount"

Hi there

Are you depressed at all and go on these spending spree's to make yourself feel better? I ask this because I know when I feel down in the dumps I tend to go shopping for things for my daughter.. pretty clothes and stuff which makes me feel good about how nice she will look in them. Then get home, put the clothes away, feel crap about myself but because I need to lose some weight I don't buy for me.. just for her, so the cycle begins again.

I am not in a huge amount of debt, £1500 left on a loan and £500 on CC interest free.. but I know I would have had these paid off by now if I could kerb my spending on my little girl.

Just an idea as I know depression can have an impact on spending habits.

x

trying-very-trying

Welcome to the forum. I too used to be like you. Buying "stuff" just for the sake of buying, which wasn't too bad when I was working, but after I had to stop working due to ill health, I continued to behave in the manner to which I had become accustomed. It had to came to an end, but by the time I realised my position, I was struggling to make even minimum repayments. I eventually decided enough was enough and I would never be able to clear it all off. So I took the bull by the horns, and from the information I gleaned from this site, I contacted CCCS, who have been absolutely brilliant for me. I've had my light bulb moment and am now committed to clearing the debt. If you post up your full soa, you'll get lots of advice about where you can make savings in your regular spending. I really didn't think that I could cut back much on my regular spendings, but I am truly amazed at how tiny little things make a big difference. The biggest thing is that you have to make the COMMITMENT, it's just like stoppping smoking or drinking, except that it's easier to get the help from the wonderful people here on MSE.

HairyHandofDartmoor

What did you spend the money on? Have you cut up the credit card so it doesn't get any worse?

If you aren't earning enough for essential expenses due to being on maternity leave, isn't your DH covering these expenses? If you have been buying non essential items, then you need to take away your ability to do this by cutting up the card.

As long as you can manage the minimum payments then things are manageable, but you need to stop spending, and if possible overpay (even just a little bit would help) and then when you go back to work, really tackle it big time and try and make real inroads into the debt. I'm guessing that you are worried about telling your husband about this new debt?!

Once your SOA goes up we will be able to give you much more detailed and focused advice so do get it up as soon as you can.

msmicawber

While you're on maternity leave, why don't you use some of your time sorting out things you can sell on EBay, Amazon, through Diamond Free Ads, etc. and use any money you make to reduce your debt? Keeping yourself busy doing positive things like this, and looking for better deals will hopefully distract you from continuing your bad spending habit.

When you've posted your SOA, people here should be able to advise on how to reduce your outgoings and pay off your debts as quickly as possible.

painted_lady

First, I am on maternity leave so have an idea of what it is like for you.
I would second what the above poster has said, ebay, amazon, car boot etc as much as you can to boost your income.
I can also identify with the poster who spends on her baby to make herself feel good. £ years ago I was very poorly and lost a lot of weight, I had lots of surgery and time off work. I was depressed and used to go out shopping as I felt good when buying new clothes. Some of this has added to my debt, I had treatment for my depression and then stopped spending money on myself.
Find out why your spending and then you can identify a solution. Maybe write a spending diary as some others on here find helpful.

Newgirl_2

Hi, you will get lots of good advice on here.

I agree with the previous posters, and there are 3 points you can do immediately.

1. A spending diary to log EVERY penny
2. Once you know what you are spending on, if it is essentials, it shoudlnt have to be on credit, speak to you OH. If it is non-essential stuff, cut up your cards!
3. Sell things you don't need so at least you get back some of what you spent.

The rest of the savings you can make will be more obvious when you have posted your SOA.

Good luck

Newgirl

SarahNeedle1872

Hi, welcome to MSE. I'd echo what has been said, and make the most of ur time off to get as much sold on eBay etc as u can.... I've just gone back to work after Mat leave, and the times while DS was sleeping were ideal for eBaying/Amazoning - I still do it now on my days off! Funnily enough, my midwife said I should rest in those periods - still haven't figured out what rest is yet!

Keep a diary of what u spend each day, and get ur OH to do the same.... its :eek: when u realise just how much u spend on stuff u don't need.

Also, ppost ur SOA (see SouthernScousers sticky at the top) with all ur outgoings/income/debts/aprs etc, and the lovely people here will see if u can cut back anywhere....