First ever diary! Time to crack on!

Happycamper84

Hello All:j

So after a number of years of totally burying my head firmly and quite deeply in the sand, I've made the really scarey ( but worth it ) step in dealing with my debts!

I've always been abit of a pain with money, and never really had any idea on how to manage it. Which angers me because my parents have always been fantastic with money - never had a credit card, always saved well - obviously this is not something that has rubbed off on me!:p

When I first moved out aged 18 - bought my own home, mortgage was a whopping £125 a month. Plenty of surplus cash to go out into town and party till the wee hours....... But, (isn't there always a but) I met a fella who was 6 years older than me, he moved in and I thought he was so mature and grown up!

He had a loan and credit cards, and I thought that's how you acted as an adult! God, if I could go back and have a word with myself!

Anyway, fast forward 13 years - New house, I married him......and divorced him, a child. which left me with a number of debts........ And I'm ashamed to admit I totally ignored them and hid away! Not wanting to believe that the person I thought I was ( sensible, mature, grown up ) could end up in such a pickle!

My debts my not seem very large ( £5628) but they are totally weighing me down and have wrecked my credit score. I won't blame the ex husband, because it was all my own doing! I am responsible for me!!! But I also have two children, a new partner ( who's totally amazing ) and I feel such a let down.

Anyway, enough of the woe is me rubbish!
I'm going to start making an impact - I know that in two months one of my big commitments (Virgin CC @ £180) is paid off and that gives me some extra to play with in order the pay off the other 5 things I have that I need to get rid of!

Wish me Luck:beer:

ani*fan

Welcome to diaryland!

You sound so motivated, that's great to hear, and with virgin almost paid off you're doing so well already. Yey!

It's interesting to think about how our parents handle money, before credit cards became the norm and we all just got them without even thinking. I'm hoping to have a credit card free life once they're all paid off. I'll maybe keep one for the insurance of online shopping and pay it off at the end of every month. I can only dream about that time, such a long way to go yet.

Do you have a debt free date in mind? Maybe you can post up a soa and we can help you cut some costs.

Best of luck.

AFx

Happycamper84

Hey Ani*fan!

Thank you! I am super motivated, I just don't want to live like this any longer! Totally feel stressed and useless most of the time! A change needs to happen, and it can only come from me!

Sorry you'll have to bare with me..... What's an SOA?! X

Florence_J

Wishing you the best of luck. I have a similar level of debt. It might not be much to some people but it is an awful, crippling amount to me .

I believe (correct me people if i'm wrong) but a SOA is Statement of Affairs, where you post a chart of your incomings versus your outgoings-what you budget for spending each month. I think if you have a look round this site or near the start of someone elses debt free diary you will find the template to do your own.

I never did one, I just did a simple 'This is my pay and these are my bills'

Happycamper84

Ahr I see thank you!:j

Ok so below is my (newly learnt) SOA! - I will become financially savvy!

Income: 1654.44
Household outgoings: 1202.62
Unsecured Debt: £5237

Amount paid each month to unsecured:
Virgin CC: £180 remaining £526
Capital One CC: £50.00 remaining £672.09
Jd Williams: £50.00 remaining £968.32
Vanquish CC: £50.00 remaining £1028.00
M&S CC: £50.00 remaining £2048.07

Secured ( mortgage ) : 117456
Assets: Home - worth £165000

Obviously I have done this in more detail - but these are the basics.

smallholdingsister

Good luck!
Oh for a £125 mortgage!

Happycamper84

I know!!! Wish I could go back and give my head a shake! Would hate to imagine the amount I spent going out and having a good time! :cool: