Budget problems

lw2379

Hi there,

New to the site, just trying to address some issues I have particularly with budgeting but generally had issues with money my whole life.

Issues started at university, before then i always spent the money I had but never had any out goings so never had an effect on my life. Started running short at uni, gambling became an issue to try and make a bit of extra cash but went the other way and ended up taking payday loan after payday loan. These have had a huge impact on my life and my ability to lend money and even get a bank account. Stupid and naive mistakes at the age of 19/20 I feel have ruined my life. Ran up debts of about £10,000, not including the university debt (which was pointless having never graduated, mainly down to the gambling and money problems could never sit down and focus on work!)

Now the 25 year old me has £1000 left to pay off, I feel like I've come a long way, been in employment for 4 years at 3 different jobs, really worked hard to get where j am, put my head down and worked. However, I just can't make the money last, I get paid, money goes out, costs me a fortune to get to work and back, this month had to pay out for my licence to work, it's 3 weeks til I next get paid and there's nothing left.

My problem is this is my third job in the 4 years, did 3 years in the first, progressed as far as I could, made the decision to try for progression somewhere else, wasn't available there, so on my next job only been in it a month and everyone is saying the same about here. Just want to progress and earn a wage I can pay the bills with and have a little left over for myself, struggling snd don't know the next step.

Just looking for advice, tips, help, motivation, anything really - down in the dumps and desperately want more from life.

Dobbibill

Hi lw, welcome to the forum.

Well done on getting your debt down so much over the past few years.

The first thing I would say is complete a SOA. Be honest, be accurate [go through statements if you need to].
You can format it to share on MSE or just keep it to yourself.

Secondly, if you have funds left over, then you need to look at keeping a spending diary. This means accounting for every single penny, including the couple of coffees, odd takeaway, magazine, etc etc. A few quid here or there soon adds up to £20 a week or £80-£100 a month.

How long ago did you know you would need to buy a 'licence to work'? Make allowances for this each week/month/payday. Just because it's a one off/annual purchase, it doesn't mean it is discounted from the budget for the rest of the time.

HTH

Dan83

Try and move any debts on to lower interest loans/credit cards

lw2379

Literally got a new job and part of that was to do a course I had to pay for so all came out of first pay check - along side all this I have relapses into gambling, so sometimes I have a moment or an hour or a day of madness and all my good work goes out of the window - told my mum/dad/ girlfriend all about it when it was bad but they don't check up on me and occasionally I dip back in and when it goes wrong I don't know what to do - I can't tell them because id be single and without a home but can't get money from nowhere my credit rating is awful - just can't make ends meet and getting desperate, can't control my urges to gamble at all and it's ruining my life - can't speak about it because everyone thinks I can control my urges but just do it in secret now; everytime I leave a betting site I self exclude myself but then there's always another ready to open up soon as I get the urge again, I hate it.

colsten

For your gambling issues, go to http://www.gamcare.org.uk/

lw2379

Used an advisor there who recommends I get k9 software - great idea could really help, but can't remember restrictions passcode on phone! Always something - need to learn to budget and apprichiate money - always had problems with money not being in my hand - if it's on a screen it's only a number to me unfortunately and I need every penny

No_6

Also get MS money on a computer of some sort, so you can manage your money. No cost free to load just needs data adding

colsten

lw2379 wrote: »

Used an advisor there who recommends I get k9 software - great idea could really help, but can't remember restrictions passcode on phone! Always something - need to learn to budget and apprichiate money - always had problems with money not being in my hand - if it's on a screen it's only a number to me unfortunately and I need every penny

K9 software - !!!!!!?!?! Are you advertising for them? If so, get lost. But assuming you are not:

No Software of any sort is going to cure your gambling addiction by itself. Self-control will, and you might need the help of humans with self-control

Have you actually talked to someone at http://www.gamcare.org.uk/ ? Did you join their forum? If not, why not?

Dobbibill

You need to address the gambling addiction first otherwise you are going to take one step forward and two steps back, even if your income and budget are close to perfection.

Tell your family, get the help you NEED.

All the best.

Ballard

As others have said, your priority must be to address your gambling problem as this seems to be at the root of your troubles. I doubt that anyone on here is qualified to help on that score but you've been pointed in the right direction with Gamcare.

I had a major problem with fruit machines when I was a teenager. I knew that it was a waste of money but I craved the (all too rare) big win. I eventually got out of it by visualising what I could do with the money if I wasn't sticking it in the fruity. I'm not saying that this will work for you but it's a start until you seek professional help.

Aside from the gambling you can do small things like taking sandwiches to work for your lunch.

You really can get out of this spiral but if you're hooked on gambling you can't do it alone. I wish you well.