I want to stop drowning

debtaghh

Sorry I've just seen the message about renting. Yes we still privately rent but have a contract that the rent can't go up for another year and half.

My aim is to still be frugal and get rid of the debt

pennywisepoundstupid

debtaghh wrote: »

Sorry I've just seen the message about renting. Yes we still privately rent but have a contract that the rent can't go up for another year and half.

My aim is to still be frugal and get rid of the debt

What would happen if you were given notice, have you got an emergency fund in place to cover the fees etc for a new place?

debtaghh

I have some savings that I could use worst case scenario

debtaghh

I just wanted to clarify that I'm not going to go on a mad shopping spree or have regular takeaways. I just mean I'm not going to stress as much and beat myself up about this debt. From some of the responses that I have received I feel people think I've given up and I haven't. I said a few posts ago that my income needs to increase this is the only way forward.

enthusiasticsaver

I know the diary you mean and she like you has struggled with financial discipline and low erratic income. I will say the same to you as I did to her. This is your journey and your debt. You decide the course, whatever that is. I have read a lot of diaries over the last few months or even years where people have talked about the scenic route and taking a few more years to clear it. I hope they do but for some people, it just means kicking the debt into the long grass. Only you knows if this applies to you.

These are diaries though, records of your individual struggles with high debt not blueprints for clearing it. Keep looking for ways to increase your income as I think that will help.

System

Happy New Year to you. I hope you find more peace this year in your debt busting.

debtaghh

Hi,

I have £130 worth of vouchers and that is what I will use for food until 18th Jan. My aim is to not spend money and be very frugal this month!

BabyStepper

I have just read your whole diary from beginning to end, didn't want to read and run so thought I'd duck in and say hello.

Your situation sounds very stressful, I've had my own anxiety recently about my debt so I understand how hard it can be. And you have 3 children to think about too, not easy.

You have been given some excellent advice over the months and years of your diary, and you have done well in trying to make your situation better. I can understand that you want to do things like reduce your food spends, save on days out and find ways to make Christmas cheaper. That's what we're all up to on here.

Something is clearly not adding up though. As has already been pointed out by enthusiastic saver and others, with such a high level of debt, such a low income and such a massive rent to pay, you are perpetually thrashing about trying to keep your head above the water. And when something crops up that you haven't been able to save for because your budget does not balance, you are still taking on more debt.

There is no clear record of your debt and I think it may have gone up in the 2.5 years you have been keeping a diary. This is not because you are not trying hard enough or because you are doing anything wrong or because you are incompetent (although you may feel all of those things). It is because your situation is now impossible. I believe that if you do not get some help via dmp or something else then a decision will be made for you. The 0% deals will stop, your husband may need to take time off work, something will happen to tip this very fragile arrangement right over. Wouldn't it be better to take charge of it now?

I wish you all the very best with however you choose to proceed and I hope you find some peace of mind with it all.

debtaghh

BabyStepper wrote: »

I have just read your whole diary from beginning to end, didn't want to read and run so thought I'd duck in and say hello.

Your situation sounds very stressful, I've had my own anxiety recently about my debt so I understand how hard it can be. And you have 3 children to think about too, not easy.

You have been given some excellent advice over the months and years of your diary, and you have done well in trying to make your situation better. I can understand that you want to do things like reduce your food spends, save on days out and find ways to make Christmas cheaper. That's what we're all up to on here.

Something is clearly not adding up though. As has already been pointed out by enthusiastic saver and others, with such a high level of debt, such a low income and such a massive rent to pay, you are perpetually thrashing about trying to keep your head above the water. And when something crops up that you haven't been able to save for because your budget does not balance, you are still taking on more debt.

There is no clear record of your debt and I think it may have gone up in the 2.5 years you have been keeping a diary. This is not because you are not trying hard enough or because you are doing anything wrong or because you are incompetent (although you may feel all of those things). It is because your situation is now impossible. I believe that if you do not get some help via dmp or something else then a decision will be made for you. The 0% deals will stop, your husband may need to take time off work, something will happen to tip this very fragile arrangement right over. Wouldn't it be better to take charge of it now?

I wish you all the very best with however you choose to proceed and I hope you find some peace of mind with it all.

Thank you so much for taking the time to read my diary and respond. I do agree with what you are saying. I have been desperately trying for so long but just worry of the consequences of a dmp etc due to my husband's job and renting.

BabyStepper

Others have said that a dmp will have no impact on your chances of renting a new place, should that situation arise. There is a limit to how much info leasing agents can get about us, and they wouldn't know about the dmp.

What's the situation with your husband's job?