What Caused Your Debts

iwanttobreakfree

Mine was all psychological really - no confidence, depressed and I shopped to make myself feel better. A very bad relationship started it all and I dont think I've ever really got a grip since. I have a much better relationship now but I still can't manage to kick the crutch of shopping to cheer me up.

davek1

stupidty. spending more than we earned. wasting it on thiings we didn't really need. trying to give the kids what we didnt have as kids.

Truthfully as well irresponsible lending by the banks and financial institutions which allowed us to continue to borrow even though we were up tour kneck in it ( not blaming them totally tho!!)

lindann_2

l realised at the end of our problem of facing our debts, that we will be in debt until 2013, we are to blame, for doing things wrong, made bad choices. but credit cards, and loans is borrowing other peoples money, which it is, but they charge a great deal in interests. Also a mortgage etc its a debt, not just buying a house... on the credit cards. l used to pay just minium, which is no good, also when once a credit card was paid off, stupid when they offered another one we taken it.. we felt like royalty when we could just hand over a credit card, but its fairy land, l know l never ever have one them again always in cash where l can.

debts mount over six creditors, is £7,000 paid over £4.000, now just under £4.000 with interest added to debts.. all on payplan..

chocaholic110

University, holidays, new kitchen, borrowing on loans and CCs to lend to family members and not being stern enough to get any repiad back to us, thinking we were managing our money well when we were really only paying minimum payments.

Thank goodness we found this site, what a pity it wasn't ten years earlier!

fletch3163

Mine's is very similar to Bathgatebuyer above, except my mum was a rubbish seamstress but still I was sent out wearing it . 9 siblings and no spare cash for French Flairs, Adidas Kicks, and Y Cardigans (sigh).... Mine is definitely rooted in childhood. I remember lying that I got MILLIONS of Easter Eggs/ Xmas presents/ birthday presents, etc. Apart from Tiny Tears I can honestly say I don't remember another Christmas present.

I swore I wouldn't be like my mum and would buy only when I could afford it. And I did right up until I got a raise a few years ago. What is it about more that makes you want more still? So, I got my first credit card and was THE kindest friend/sister/acquaintance you could meet. I would buy people things just because I knew they wanted it. I'm not material in myself but I want people to think I can afford it. One day I'll conquer it!

pixie1

Just been stupid, generally wanting things and buying things that i just couldnt afford, reading glossy mags and wanting the lifestyle of the celebs.

i had never saved for anything in my life until my LBM. Thankfully things have changed now, but its still baby steps.