Help please! SOA and Corp Card Nightmare!

redballoon_2

i agree with everyone else. if you are serious about clearing your debts then do the following:

Going out 400 reduce to zero or little as possible
Gambling (due to debt) 400 reduce to zero

Food/eating 600 reduce to £200
Travel to work 300 reduce to zero or little as possible, bike, bus , walk, etc...

Phone 100 reduce to zero or little as possible

Jazzyjeff_2

I find some stories a real eye opener, it just goes to show no-matter how much you earn you can still get into debt problems.

£50k plus (before tax) is an incredibly high salary, especially at 24!! So well done for managing to do this!!

Maybe your debt is partly due to the lifestyle that goes with earning that sort of money? Attitudes of colleagues earning similarly high amounts?

You need to sort out your state of mind first, you mention stress and also gambling so I think these are the real issues here that need tackling. If you sort these out and become just slightly more money savvy then with what you earn you will certainly not have any money worries in a few years!

Crown

* I wondered if I should post this here and debated about this post for 20 minutes. I do not mean any offence but this is what I had typed and then nearly thought better off* - Crown

Can I ask what you actually mean by £400 spend a month on gambling because of debt? Are you saying that you are spending £400 a month trying to win your losses back?? Let me tell you if thats the case then you really do need to get some help as even if you won the 45k you wouldnt have it for long and it would soon go back with interest. I am a recovering compulsive gambler and know that you may think its normal to spend this amount but you need to realise it isnt. Gambling can be an illness and and many think there actions are perfectly rational.

You need to be honest with yourself as I wasted at least a year before I was ready to admit that I had a problem and I honestly didnt think it would ever happen to me. Phone Gamblers Anonymous and find out where your local meeting is held.

National & London 020 7384 3040
Sheffield 0114 262 0026
Manchester 0161 976 5000
Birmingham 0121 233 1335
Glasgow 08700 50 88 81
Londonderry 028 7135 1329

I would say go along and listen to what other people have to say. If it isnt for you then so be it. We normally say give GA six weeks and if you dont get anything from it then you are welcome to the misery back.

I wish you the best of luck although in my case once I started to attend GA my debts started to reduce and I have my Brain back as before it was to cluttered with rubbish.

RAS

if there are two adults in the household, can the other go out to work even for a bit of money? if they earn £5,000, there is no tax or NI to pay, where as if you earn another £5,000, you will take home £3,300 on basic rate tax and even less on higher rate tax.

tallyhoh

PJJ wrote: »

3 of us on that

You think £250 is too much for a 24 year old? What am I supposed to do on a weekend?

I note that you say "What am I supposed to do on a weekend", who else is in you family?

If £250 is just for yourself, them yes, it is way too much. Even for a family of 4 it would be way too much.

I really dont think you realise even now what trouble you are in. You have to start getting serious.

PJJ_2

The gambling has stopped except for the odd game of poker for a tenner at the weekend. Thats entertainment for hours (normally). Crown you did not cause any offence I used to gamble not because I wanted my winnings back but because I didnt have to want to actually pay for anything. That sounds daft but that is what I have put down to. I put the gambling on here as I wanted to be honest.

I need some advice, I have my Mum and Dad living with me as they are retired without great pensions. They part time jobs when they can. What happens is that it is hard to live with them even though I love them so much. I have to get away from them as I feel trapped. As such I used to go on the internet and play poker it got out of hand. I used to go to the pub and drink so that I didnt have to go home.

I have as such solved this a bit but it still remains a problem, any ideas how I can keep myself occupied without spending money...???

Shineyhappy

Have you thought about joining a local walking club? There are some clubs that aim at 20-40 year olds so its not just for retired people. Usually these are pretty cheap as long as you dont go on any expensive trips.

What about getting a bar job? This would get you out of the house to a sociable environment and any income could go straight to your debts?

Have you encouraged your parents to join clubs to get them out and about? Lots of shops (esp Asda, B&Q, Marks) prefer older employees as they are more reliable than some teenagers.

Have a look in your local papers for activities that are free/cheap like a running club or volunteer work.

RAS

maybe the other thought is how can you get the parents out of the house for a few evenings/ a day at the weekend?

Do you have any siblings locally. Can you get them to join any local societies? if they have moved in with you, they may not hav local links? Hav you/they heard of U3A?

tallyhoh

I always had a bar job when I was younger & I had the energy to work all day & night.
Its great- you get paid, get tips & have a social life at the same time. Keeps you away from spending.

Sounds ideal for you.

PJJ_2

My parents have friends but they choose not to go out. In fact they spend most of the time doing house/garden work.

Bar job worked for a while but when I came in late I woke them up. Home life was not great so I quit!