So, so annoyed!!

svmitche

I've been using this site for years and managed to turn good habits learned from Martin and forumites into being debt free - but this past year have managed to rack up a credit card debt of £2.5k again.

I have taken steps to balance transfer at 0% and know what I need to do to make better financial choices, and I know it's not a huge debt by some standards, but I am thoroughly disgusted with myself.

My husband works damned hard and I just feel utterly useless and can't bear to face him almost - although I know it must be done. Dreading it, hence posting at 3am - I just can't sleep knowing what I have to own up to.

enthusiasticsaver

Good you put a stop to it before it got too out of hand. What was the trigger for the lapse back into overspending? Hope your OH is understanding. If you don't trust yourself with a credit card you are better off getting rid of them if they are too tempting. Just use debit card which is more immediate or cash. Hope you clear it quickly.

ReadingTim

I guess you've also got to work out what you're overspending on - if it's frivolous stuff then fair point to be annoyed, if it's day to day living (especially for you and husband) there's more of a problem, but you'll at least have to deal with that together, and a problem shared is a problem halved.

Unfortunately, debt is pure mathematics, and doesn't respect hard work. You can graft as hard as you can, but if more money goes out than comes in, you have a problem. But if you can take the emotion out of it, then you can face the problem calmly and rationally.

EssexHebridean

OK - yes, you've been silly. Yes, you're right to be annoyed with yourself. Now REMEMBER those feelings, but let them go. You only need to rekindle that now if you find yourself tempted to spend outside your budget again.

Are the cards cut up? For the moment, you need to step away from the access to easy credit I think as EnthusiasticSaver says - so cut up both the original cards AND the new 0% ones. You also need to go back over your budget again I suspect - is it up to date? Was the 2.5k on "stuff" that you impulse bought, or was it on planned spending that you never quite got around to setting the money aside for?

Put a plan in place to pay off what has accrued, put steps in place to prevent the situation occurring again, and learn from your mistakes.

Sazzie23

Recognising the need to change is the most important, you've done that so the next step is to deal with it.Maybe set yourself a target for motivation?

Good luck

Fireflyaway

£2.5k can be handled. Its good you realise now and not when its £10k.
What was the reason for it? Do you do a written budget ? Start 2017 how you mean to go on. I now follow the envelope system for spending money and it really helps. Why not just get rid of the card? I can't see any benefit to having it. Keep an emergency fund in cash.

another_casualty

It's good that you've realised , that things could get out of hand .
Good advice here already .
Questions I have : Has the credit card debt been creeping up over a period of time ? (A year or so )
Have you children ? ( can be expensive )
You are working aren't you ?
If you discuss with your other half , maybe you could destroy card and ask him to pay off an amount each week and you repay him when you can ?

Having said all that , what we earn is actually less than it was years ago and everything is always going up . Unless you're in a higher wage bracket than a lot of us .

Hope things work out .