Small Steps Out Of Massive Debt!

Treadingonplaymobil

I can't even have peanut butter in the house in case a knife gets infected with it an I accidentally use it. Vom.

GeorgianaCavendish

My husband uses it in protein shakes (he has one for breakfast at least 5 days a week). I probably have it on toast once a week.

I didn't think about wholesalers for household goods, I will investigate that a bit further!

Bobarella

What kind Mum in law's people have! I like peanut butter. Useful for satay sauces etc too.

GeorgianaCavendish

Another few eBay sales last night totalling £50. Buyers paid up straight away so I posted this morning. My Paypal balance is sitting at £140 (I transferred all the money I spent on postage to my bank account earlier in the week, I was trying not to but it has cost me £60 that I hadn't accounted for in the budget, and I had been charging buyers postage on top of item price anyway). I'm planning to use the money from eBay sales to make an overpayment on my Barclaycard at the end of the month.

I needed to do some household-ey shopping and figured out a plan of attack using MySupermarket. It meant going to three different shops but I saved £10.60 on the essentials (the shops are either within walking distance of home or on my way back from work, so I didn't have to spend extra on petrol to make savings). Tonight I'll be meal planning for the week ahead and then shopping in Aldi this weekend.

gelmc

Hi GC,
Your situation really struck a chord with me. I'm an overspender and as my folks once said - money burns a hole in my pocket. Being in my early forties and becoming a mum, just over a year ago, I would really love to become more responsible with money, plus eradicate my debts. Hey - maybe even develop a saving habit!

I've just been searching on the forums for an overspender support group, in order to provide some inspiration for the task ahead. I am now aware that it is a pursuit which requires some effort and resolve! AKA stop bloody deluding yourself woman, that this out of control spending behaviour will be prevented by burying your head in the sand. I now realise that it will require supreme focus and a good amount of time.

I have drawers full of toiletries, wardrobes full of clothes, cupboards full of food and I seem to have a chip in my brain which shrieks at me to 'buy more' when these cupboards etc of mine become even slightly emptier. As my hubby says, we just have to walk round the corner these days to have products pushed at us by sellers. He is right, but I'm an intelligent woman - why can't I sort it out?

Anyhow Georgiana, can I please join your merry band of followers and hopefully make some in roads in tackling my overspending. I'll post my debts shortly.

boxofpaws

Fri-yay indeed, huzzah!

Good work on the shopping!

gelmc

Ok, so here goes:

£1000 overdraft
£1000 Barclaycard
approx £14000 home improvement loan
£10850 loan from mother-in-law to pay off credit cards whilst on mat leave (I'm paying her back £150 a month)
£150 capital one
£570 very
£560 Argos card

All in all, it feels good to write all this down. Now I just need to change a few neural pathways, and the job's a good 'un. If only it was as simple as that!

Is there anyone out there with any tips, or who has triumphed over their debts and can tell me where to start???

Naomim

gelmc wrote: »

Ok, so here goes:

£1000 overdraft
£1000 Barclaycard
approx £14000 home improvement loan
£10850 loan from mother-in-law to pay off credit cards whilst on mat leave (I'm paying her back £150 a month)
£150 capital one
£570 very
£560 Argos card

All in all, it feels good to write all this down. Now I just need to change a few neural pathways, and the job's a good 'un. If only it was as simple as that!

Is there anyone out there with any tips, or who has triumphed over their debts and can tell me where to start???

Hi gelmc,

you've certainly come to the right place! The best advice I can give is to jump on the DFW board and post an SOA (statement of account). People on here are lovely and will make suggestions on how you can best tackle the debt. Personally I think it;s all about baby steps and being on the ball. Check your bank/credit card statements daily/weekly/monthly and don't think you need to throw ALL of your cash at your debt. If you starve yourself of any fun you'll blow out. It's a bit like a diet!

Good luck

Naomim

Bobarella wrote: »

What kind Mum in law's people have! I like peanut butter. Useful for satay sauces etc too.

Mine is lovely but again it's a mutual thing. She doesn't drive so I often take her shopping and buy her the odd bunch of flowers or a box of maltesers as a thank you. I also sort out all their technical needs! I lost my parents when I was 18 and my in-laws have truly been surrogate parents to me. :A

All this talk of PB on this thread made me have it on toast this morning! I was also in Wilko's today buying deodorants and thinking of you GC

Hope you are all having a lovely weekend.

Naomi x

GeorgianaCavendish

gelmc wrote: »

Hi GC,
Your situation really struck a chord with me. I'm an overspender and as my folks once said - money burns a hole in my pocket. Being in my early forties and becoming a mum, just over a year ago, I would really love to become more responsible with money, plus eradicate my debts. Hey - maybe even develop a saving habit!

I've just been searching on the forums for an overspender support group, in order to provide some inspiration for the task ahead. I am now aware that it is a pursuit which requires some effort and resolve! AKA stop bloody deluding yourself woman, that this out of control spending behaviour will be prevented by burying your head in the sand. I now realise that it will require supreme focus and a good amount of time.

I have drawers full of toiletries, wardrobes full of clothes, cupboards full of food and I seem to have a chip in my brain which shrieks at me to 'buy more' when these cupboards etc of mine become even slightly emptier. As my hubby says, we just have to walk round the corner these days to have products pushed at us by sellers. He is right, but I'm an intelligent woman - why can't I sort it out?

Anyhow Georgiana, can I please join your merry band of followers and hopefully make some in roads in tackling my overspending. I'll post my debts shortly.

Hi Gelmc, welcome to the Debt Free Wannabe boards! I agree with what Naomi has said, if you post a SOA (Statement of Account) on the DFW boards then people can help you identify areas that you could save on.

I'm seeing a counsellor at the moment, not specifically for overspending but we've been talking about it a lot in the last couple of weeks. I told her about looking through my old bank & credit card statements - some going back years - and seeing these huge 'spending benders' where the spending was out of control. These benders line up with traumatic or very emotional times for me. I felt like I was acting like a grown up now because I didn't go over my limits or get nasty letters from the bank (unlike when I was at university!) but actually I've never addressed my spending habits and specifically how I deal with emotional problems by spending money.
I don't have all the answers at the moment, but I do feel a lot better for talking a long hard look at the exact amounts I owe, finding out my exact interest rates (I had never done this before!) and checking the dates my statements are generated etc. It is really scary but all the amazing support on this thread and the advice on the other parts of this forum has helped me to think "ok, this is where I am, and these are the things I need to do to find my way to where I want to be".

Good luck! We can do this