I want to stop drowning

debtaghh

Yesterday I spent £7.50 which was on the toilet paper needed and on offers that I will be taking with me on holiday ( Walkers 30 packs for £3). I sewed and managed to get rid of a stain off my daughter's blazer which hopefully means that will do her for another few months, my husband also managed to sort the hoover out. Even if they brake in a few months I would have time to save with my new savings system. I'm out today but found a 2 for one voucher and bringing lunch so hopefully will only cost about £10. I need a few food bits so instead of popping to the nearest shop I think I will go to Aldi and do the rest of the shop to last me until we go away. I have also managed to hang the washing out again and have moved some money around into certain savings accounts ( I opened another one yesterday). I have also paid £50 off my B/c.

debtaghh

Quick update from me, I spent £14.50 on our day out yesterday but used holiday cash. I went food shopping and bought snacks for our holiday so was a bit more than usual £62. I just got offered to do a mystery shop visit and haven't done them in years but was offered £10 so accepted it. Have made another payment today and transferred £5 to savings funds- all adds up. Have been thinking about spending money and i'm not going to bring as much as planned as it's ridiculous spening hundreds on food!

RickLewis

Hi, saw your thread and some of it was a bit of a flashback. It's good to see that you're budgeting. Too many people just spend and guess at where they are financially. It's so important to know exactly where you stand. It is one sure way of controlling your spending and staying financially secure.

I was curious why you thought an IVA was not possible. We live in a nice area and rent privately as well. About 6 1/2 years ago we were drowning in debt. We both had forced career changes due to the economic drop and were on much lower incomes. We could see no way out and were worried we would find ourselves homeless and penniless. We spoke to a few different debt management companies and most suggested an IVA. We found a company we felt we could trust and the IVA was put into motion. As we were already renting and our rent was one of the "essential expenses" in the budget we were given so has always been paid on time. There is no negative effect for the landlord/agent so it was never an issue. I would certainly investigate this as an option if you are not able to clear your debts.

The good news is that our IVA is completed and we are debt free. We learned a lot through the process. The big one was to live by a budget. But we also learned the importance of saving but just as important how to save. We are in the process of building our credit rating as it is important to have a good rating. But we only buy something if we have the cash to do so. My wife wanted to replace our dining room table and chairs. We saved the money, bought it on a credit card then paid the card in full. This way we got no interest charge but built our credit.

I shared this with you because you need to know there is light at the end of the tunnel. Just take the steps to get yourselves there. Never give up because every problem has a solution.

debtaghh

RickLewis wrote: »

Hi, saw your thread and some of it was a bit of a flashback. It's good to see that you're budgeting. Too many people just spend and guess at where they are financially. It's so important to know exactly where you stand. It is one sure way of controlling your spending and staying financially secure.

I was curious why you thought an IVA was not possible. We live in a nice area and rent privately as well. About 6 1/2 years ago we were drowning in debt. We both had forced career changes due to the economic drop and were on much lower incomes. We could see no way out and were worried we would find ourselves homeless and penniless. We spoke to a few different debt management companies and most suggested an IVA. We found a company we felt we could trust and the IVA was put into motion. As we were already renting and our rent was one of the "essential expenses" in the budget we were given so has always been paid on time. There is no negative effect for the landlord/agent so it was never an issue. I would certainly investigate this as an option if you are not able to clear your debts.

The good news is that our IVA is completed and we are debt free. We learned a lot through the process. The big one was to live by a budget. But we also learned the importance of saving but just as important how to save. We are in the process of building our credit rating as it is important to have a good rating. But we only buy something if we have the cash to do so. My wife wanted to replace our dining room table and chairs. We saved the money, bought it on a credit card then paid the card in full. This way we got no interest charge but built our credit.

I shared this with you because you need to know there is light at the end of the tunnel. Just take the steps to get yourselves there. Never give up because every problem has a solution.

Hi,

Thank you so much for taking the time to reply and for your kind words. With regards to the IVA I just meant where we live there is a major shortage of properties and for one house you will have at least five people wanting it so fear having an IVA will go against us as they credit search you, they have even been known to interview us for a property and we can't risk anything going against us. I'm so glad to hear you have finished your IVA, it must be a lovely feeling. My husband and I first spoke about an IVA in 2009, had we gone ahead with it, we too would've debt free😟

debtaghh

I did my mystery shop yesterday so once that goes through that will be £10 unexpected in my account, it has also given me the motivation to start doing them. My husband is doing overtime tonight so should make at least £30 extra from that. Sales for my business and privately have really slowed down which is a shame. I had to order more stock last night and buy my daughter a couple of bits needed for school and holiday.

debtaghh

I had a nsd yesterday and hopefully today will be another one. I have also taken on another mystery shop for this weekend. Was feeling quite down yesterday about money, think it's the lack of sales for my business. But I should be pleased with the mystery shop money and husband's overtime. I'm just impatient and being debt free seems years away. We have been in debt for approx 13 years:eek:

MrsSave

Well done on your nsd. I'm useless at them - always find something that we need!

I go through stages of feeling down about money. You'll get there and are making fantastic progress. It takes a lot longer to get rid of debt that it takes to build it up. I've probably been in debt for about as long as you, most of my adult life. It makes me angry when I think about when I was renting for half the price of my mortgage, had no husband or children and was working full time. I could have saved so much money, but instead I overspent ridiculously.

debtaghh

MrsSave wrote: »

Well done on your nsd. I'm useless at them - always find something that we need!

I go through stages of feeling down about money. You'll get there and are making fantastic progress. It takes a lot longer to get rid of debt that it takes to build it up. I've probably been in debt for about as long as you, most of my adult life. It makes me angry when I think about when I was renting for half the price of my mortgage, had no husband or children and was working full time. I could have saved so much money, but instead I overspent ridiculously.

Thanks Mrssave and it's very true what you said, debt is so easy and quick to happen but a very long process to get rid of.

I've been quite disciplined since starting a diary and have been thinking twice before spending even silly things like hanging the washing out more instead of putting on the tumble dryer which is quicker and easier. Any sales I have made, I've been transferring some into the savings accounts and paying some towards one of the cc I want to clear. I was given £17 yest from family as a gift but did spend £5 on bread rolls and doughnouts but not sure if I can say it was a nsd as technically used money given

Have a lovely weekend everyone.

debtaghh

I have had a busy few days and have spent some money. I also did another mystery shop on Sunday and have had a few more sales. I have applied for a job which would be perfect hours and potentially no childcare! I have made a few payments on the credit cards. I really want to buy a house as renting is not good but that feels like years away:eek:

tori.k

Just keep your eye on the prize, it's an easier journey if there is a goal at the end of it will help on the darker days, I often lurk over to the MFW diaries keeps me focused on where I eventually want to be