How do you cope?

katy_ann

I'm DF now but whilst on my journey I found it incredibly difficult at times to stay motivated, I felt like I was working all the hours god sent, overtime and everything and then did nothing but use the money to pay my debt's. I found out that I was trying to over achieve though, trying to pay off more each month than I really could, just so my DF date would be sooner, rather than actually living and paying my debts but having a balance. I used to keep £20 a week, so roughly £80/£100 a month for myself, not a lot, but I could still go out for a drink or a small meal, the cinema etc if I wanted too.

If I didn't spend my £20 one week, or I had money left over from my £20 from the previous week, I would use this to make an extra payment towards my debt.

I think its all about balance, which I know that some people here won't agree with but that's how I did it and I'm now DF and happy so it does work!

Good luck on the rest of your journey!

MrsTinks

It's really horses for courses...

I am number fixated and % numbers just makes my little inner spreadsheet geek so delirious with joy that it's how I deal with it

I need to update with my November numbers in a bit - but I've spent whilst we were on holiday so I'm not sure I want to look LOL

No seriously - I know pretty much what was spent but it still annoys me even though it was totally planned - weird though that is

Teacher2

Perhaps focussing on the here and now instead of seeing a mountain of debt to repay stretching into the future will be helpful. Also, instead of making yourself feel good by spending try to concentrate on free pleasures and on distracting yourself from contemplating 'debt boredom' by doing things that cost nothing.

Some practical things you can do:-

-substitute housework (Hoovering, ironing etc.) as a free workout instead of paying gym subs
-have a long walk every day for an hour or so
-read and get books from free libraries or for pence from charity shops. Also swap books with friends
-Listen to the radio (Radio Four 'catch-up' is amazing and free)
-cooking, sewing and preserving are all very satisfactory activities and save money too
-save money on presents by making them or doing 'Secret Santas' or by giving 'promises' like babysititing or dog-walking as gifts
-have 'bring a course' dinner parties with friends instead of eating out
-have fun finding coupons and vouchers to get things cheaply
-use the Martin's Money Facts forums like the thrift thread and 'Debt Free Wannabe' to get other (and better) ideas and to keep focussed by sharing your 'journey'.

There are many other freebies which will distract you and save money. One of the Martin's Forumites thought up the idea of drawing a big house divided into squares. When he paid his debt down a bit he coloured a square in and saw a physical representation of his debt disappearing which he found a great source of satisfaction. It seemed like a very good idea to me.

Anway, the best of luck!

2Lancahire_Lassie

What ever you do keep going it will pay off. For the accounts that charge you money pay the minimum then you make the choice of paying the extras.(Particularly good if you are frequently online banking) After one month look back and add up the " extra payments" I had even added as little as 25p extra. Snowballing would be pay the highest interest charging first. I found paying smallest most gratifying till I got the bug to do better as it was my money being wasted.
As for treating yourself try picking up the item you want, carry it round whilst browsing, then when the calm has set in ask yourself do you NEED it? You will not actually need it. Enjoy putting it down, walking out having made a massive achievement and smile at your success. Remember it is harder to walk up a slide.

jamesd

FinallyDebtfree2017 wrote: »

I have been sticking to minimum spends all of sept & oct, (w some hicups, but nothing like I used...) and put over £5k into debt repayments, but I feel down by the thought of having to do this for another 12mths....

Debt reduction isn't about purity of purpose, it's about dealing with it. There is nothing wrong with you paying yourself some increase in your own budget as you reduce the level of debt that you have. If you are putting £2,500 a month into the debt you could increase your own budget by say £50 each month, so after a year it'd be £600 a month more . The debt will take longer to clear but the benefit of seeing an increase for yourself each month may be enough to keep you sticking to it.

The people who have to be extremely strict are the ones who are barely able to reduce their debt level each month. In that situation there just isn't room to be more generous to yourself at the start.

Longer term there are objectives like buying a home or financial independence then early retirement to go for. Once initial FI has been achieved it's really good to know that work is just about improving future lifestyle rather than something you're forced to do just to get by. You seem to have enough income above your basic needs to get to FI fairly quickly, I did it in perhaps 7-8 years while saving and investing more than 60% of my income. Again this is much more challenging and will take longer for those with less income above their basic needs but it's still doable.