Small Steps Out Of Massive Debt!

GeorgianaCavendish

Seasidegal58 wrote: »

Hi Georgiana - I’ve just caught up with your diary and have subscribed.

I’m sorry to hear that things have been tough for you and OH lately but you sound like you’re ready to “up and at ‘em” again.

I had a similar amount of debt to you, started well - fell off the wagon some months latet, but got back again and debt has now gone! My wake up call was when I was refused any more 0% balance transfer cards and I realised retirement was on the horizon.

My main helps have been keeping a budget (YNAB is one of my best friends!) and having the safety blanket of an emergency fund which is of such psychological benefit on every level. I started off with the Dave Ramsey method of saving a £1000 EF (it could be lower if you want) then started reducing paying off my credit card debt. Once that had gone I wacked up my EF. Dave says three to six month expenses is what you should aim for but I have gone quite a bit higher than this - I like a massive security blanket around me now!:D. I also went the Dave Ramsey route of clearing the smallest balances first rather than those with the highest interest rates. I loved seeing the balances disappear off my snowball! It’s not everyone’s preferred way but again it worked better for me

Looking forward to reading your future posts.

SSG x

P.S. I loved the Amanda Foreman book on Georgiana as I’m a big history fan. I’m actually going to visit Chatsworth for the first time at the end of November so looking forward to picking up Georgiana vibes (though not her actual attitude towards money!):D

Hi SSG! Thanks for stopping by and welcome!
It's really great to hear from someone who started in a similar position and got out of it - it gives me hope! I didn't get round to editing my YNAB this weekend so need to make that a top priority. Dave Ramsey sounds good, I'll have to check him out.

I'm really jealous of your visit to Chatsworth! I'd love to visit there and Hardwick Hall (Bess of Shrewsbury being one of my other historical heroines)

GeorgianaCavendish

117pauline wrote: »

I love Chatsworth too. The first time I went with my partner it was coming up to Christmas. We'd been round the house and decided to go up to the restaurant in the stables. As I walked, I had a clear picture in my mind, almost a presence, of a young girl. She was wearing old fashioned ankle boots and a broderie anglaise skirt. I mentioned this and my partner said he had the same feeling and he described a very similar picture. I didn't believe him until I described her skirt and he told me it couldn't be the same as this girl had a skirt made of lacey type stuff - he didn't know what broderie anglaise meant! It was almost unnerving, both of us walking over the cobbles with this young girl.

OMG! What an amazing experience! I'll have to visit to see if I pick anything up too

GeorgianaCavendish

EssexHebridean wrote: »

Ouch to the glass and the stitches, and also sorry to hear about the bereavement and the other trials you've had to deal with too. Glad to see you back posting and that things seem to have levelled out a little now.

Definitely a good plan to get that emergency fund in place as a priority - I can't think of much that would make me twitchier on the financial front now than being without one!

Thanks EH! I feel on a more even keel now and determined to get things under control before the Christmas madness starts. That's progress I guess, past-me would have buried her head in the sand until waaaaay after Christmas.

Emergency Fund sounds like the way to go, I will get planning!

GeorgianaCavendish

Entering that part of the month when I start logging in to my credit card accounts several times a day to see if my new statements have been generated. Nothing yet!

I had a great walk yesterday evening on my way to visit a friend. Her neighbourhood got really into Halloween, there were so many decorated houses and families out trick or treating. Big mood booster, and most importantly, free

Seasidegal58

GeorgianaCavendish wrote: »

Hi SSG! Thanks for stopping by and welcome!
It's really great to hear from someone who started in a similar position and got out of it - it gives me hope! I didn't get round to editing my YNAB this weekend so need to make that a top priority. Dave Ramsey sounds good, I'll have to check him out.

I'm really jealous of your visit to Chatsworth! I'd love to visit there and Hardwick Hall (Bess of Shrewsbury being one of my other historical heroines)

Dave Ramsey has an excellent book called “The Total Money Makeover”. He’s quite hardcore and I’ve never been able to follow his rules religiously and have tended to take the longer debt busting scenic route! But his methods are extremely good and the book is well worth a read.

I really find Bess an interesting character as well - surely the great social climber of her day! All those husbands as well. But she was a very intelligent woman - she’d be running her own successful multi-million company if she lived today!

DrSpendLittle

Another fan of Dave Ramsey (and YNAB) here! He is blunt but fair. His y0utube videos keep me on the straight and narrow.

Seasidegal58

I love the videos too DrSpend. Also his daily radio show that you can download. He makes me laugh so much sometimes with some of the things he comes out with!

Hiddenidenity

Have a lovely day x

GeorgianaCavendish

Seasidegal58 wrote: »

Dave Ramsey has an excellent book called “The Total Money Makeover”. He’s quite hardcore and I’ve never been able to follow his rules religiously and have tended to take the longer debt busting scenic route! But his methods are extremely good and the book is well worth a read.

I really find Bess an interesting character as well - surely the great social climber of her day! All those husbands as well. But she was a very intelligent woman - she’d be running her own successful multi-million company if she lived today!

I will definitely have a look at The Total Money Makeover. Even if I don't adopt all his rules (I'm another one on the scenic route to solvency ) it would be good to get some ideas and inspiration, or even just a bit of a perspective-shift! My friend recommended The 5 Second Rule self-help book and I got a free Audible credit so I downloaded the audiobook last week and some bits have been very insightful and helping me with some MSE behaviour (even though it isn't specifically for handling money).

Bess is an absolutely fascinating character, wasn't she? Not only the husbands and the dynasty she founded, but also acting as custodian to Mary Queen of Scots. Such an interesting woman!

GeorgianaCavendish

DrSpendLittle wrote: »

Another fan of Dave Ramsey (and YNAB) here! He is blunt but fair. His y0utube videos keep me on the straight and narrow.

Ooh, good to know he is on YouTube - I'll have a look at some videos tonight! I found the YNAB videos very useful when I first started using it, they introduced me to ideas like aging money that really blew my spendthrift mind!