I Am Going For This

livingbeyond

I posted for the first time today after finally admitting I have a debt problem. Total debt = £27,292.

I have a budget plan with everything taken into account. I plan to go a complete month to start with without spending a penny outside my set budget. My budget in brief is as follows.

Income = £2640 (after tax)
Outgoings = £2120

This should leave me approx £520. If I make it I am going to stick it all into my debt repayments (credit card 1st). I figure that if I can do it for one month I can repeat it again and again.

What do you all think. Am I being realistic or am I heading for a fall (and a big spend)

Thanks

Floss

:wave:

Can you post a full SOA (statement of affairs) please? Read Southern Scouser's sticky for First Timers to help. Then advice can be given overall to help you decide what to do.

By the way, hello! :hello:

Jacks_xxx

:wave: Hello lovely!

First of all, well done for getting yourself together and admitting that your finances need an overhaul.:T

But can we please get a look at your budget to see if we can help at all? The clued up cookies on here may be able to come at it from another angle and come up with ideas you hadn't thought of, or deals and services you didn't know about.

(Plus we're just very very nosey!)

Welcome to the gang hon!

Love Jacks xxx

Molanole

Hi there, welcome to the gang :hello:

The first step is identifying that you have a debt problem (tick!), the second step is working out for yourself how to address it (tick!), the third step is to put those plans in action (on the way to a tick!). Simple, one, two, three.....

Yes, it is simple provided that you stick with it but the third step is the trickiest. Staying in touch on here helps to drive home what you are doing. So many of us have had periods where we've slipped and more often than not they are times when we've not been on here as much. Take it from a long hauler, it does take some time and immediate goals may not always be forthcoming so breaking down your goals into bite size chunks can be a real way of boosting motivation.

The second thing I would recommend is keep a spending diary. Yes, it's tedious, but you've identified that you should have some spare cash. A spending diary will certainly show where you fritter away the disposable income that you currently have and then you can start to address it properly.

Post an SOA if you like, but you seem to have identified that all your outgoings can be met and with spare cash left over so it's less urgent in this case. The issue here seems not to be that you're struggling with the important bills but actually need to get a better handle on the little spends. Having said that, there may be other savings you can make on your outgoings and an SOA would give the nerd, geeks (or whatever we're calling them now) on here a chance to help you with that.

We're all here for advice, general support and even some laughs so welcome to DFW! Good luck!!