Why do we fall? To learn to pick ourselves back up. (£26K+ DEBT!)

NekoZombie

Hmmmm be careful on this one. If you’re the type who gets depressed being in less than ideal surroundings can tip you over the edge.

I personally don’t believe in you wearing a hessian sack while attacking debt as you can end up falling off the wagon big time.

MrJester

NekoZombie wrote: »

Hmmmm be careful on this one. If you’re the type who gets depressed being in less than ideal surroundings can tip you over the edge.

I personally don’t believe in you wearing a hessian sack while attacking debt as you can end up falling off the wagon big time.

I'm not exactly ecstatic in my current surroundings, and I've wanted a change for some time but in my experience moving house in London is a real risk because you can so easily end up in bad situations, whether it be the landlords or the people you live with.

In this idea, I wouldn't actually live with anyone. I'd live in someone else's rather nice home (which is why they want it squatted) whilst they are away. And look after animals when I've wanted my own animals but cant for a long time.

I understand it might seem strange and scary even to some, but to me it doesn't feel like that. To me it feels like freedom.

I have people I can fall back on if I end up homeless for a couple nights. But again this doesn't bother me so much it probably will in the long run but right now i'm liking the idea of it. Having less stuff, and less stuff I need to spend money on means more money for good things like debts and savings.

I'm committed to making a big change here, and this is a possibility of that. I've got consistent work now and so I'm earning nicely again but with living costs being so high its a bit of a joke

Reb2016

I can see the appeal of this idea, and it's not set in stone, if it doesn't work for you then you can always go back to renting, I would say it's worth a try, just so long as you go into it with your eyes open, and as you have already thought of some back up plans, then it sounds as though you have done that.

I'll certainly be interested to see how you get on with it.

Reb

MrJester

Reb2016 wrote: »

I can see the appeal of this idea, and it's not set in stone, if it doesn't work for you then you can always go back to renting, I would say it's worth a try, just so long as you go into it with your eyes open, and as you have already thought of some back up plans, then it sounds as though you have done that.

I'll certainly be interested to see how you get on with it.

Reb

I've thrown the idea out to a lot of people now. And a bunch of people, such as those who have done it before, have given me some really great feedback. I should likely dip my toe into this first before committing full-time. Build up some experience and positive track record and build up momentum to see what it can offer me; whether that's full time roof over my head or not.

Also looking into property guardian-ing.

All still just an idea at this point.

System

I think the biggest downfall of living that way is you have to really strip back what you own, you can’t have a proper PC but instead a laptop and you can’t have a huge wardrobe of clothes but rather what fits in a suitcase etc. It definitely is something that can be done in London as there’s such a densely populated area with a lot of money in it, you couldn’t necessarily do it elsewhere in the country so why not utilise it whilst you are there I guess! Have you spoken to your GF about it to make sure she’s happy you’ll kip with her in the event you have a gap between finding the next property to house-sit?

MrJester

Yeah, I really like stripping back what I own. So that's not much of a problem.

Yeah me and my GF have discussed it a few times over, we're very open. She isn't bothered about it, as long as I don't take the !!!!. But she said it'd be ok if sometimes I needed to overstay.

It's a pretty wild idea, and whilst I want to make the most of my money I do still want to have time for myself and to do my own entrepreneurial activities as I always have, and some described to me who have experienced it, house hopping can become like a second job with all the effort required and tasks asked of you whilst house sitting.

I'm on a few guardian lists now, and should get some interesting updates this friday.

System

Yeah I suppose if you're looking after pets you'd need to walk dogs/feed dogs, water plants, organise post. I did watch a documentary about a man in New York who uses a hotel concierge's luggage trolley to transport all his belongings and he just lives in other people's places whilst they're away. I suppose guardianshipping you're there a bit longer (generally speaking) so hopefully that comes through for you.

I say who cares about naysayers, give it a go, it might be the best thing you ever do!

MrJester

That rings a bell think I may have seen something like that, the trolley is particularly in my mind.

Yes absolutely I just don't want to put myself in a bad situation, so I'm trying to be honest with myself and realistic which the feedback has helped me to do.

Otherwise. Just sold something on eBay for £15! With postage and fees.. I should end up with £15. I'm going to try and make it an aim to make £50 from eBay/selling stuff and every time I do send it towards debts. Which reminds me, need to check they'll let me do that..

I have some very pricey items listed in various places too in the hopes they sell soon too which would reach near £1000! If I did that I'd settle a couple minor debts, put some away in savings so I have my own personal piggy bank to fall back on for once, and the rest send to debts. Again.. need to ask if I can do this.

MrJester

Spoke to charity for the DMP. They advised I should wait a while because it can make my creditors think I earn more than I'm saying and they'll get demanding, but after a while I should be able to make one-off payments to the charity who will then distribute it.

In a way this is good as I can otherwise focus other money into making a piggy bank for myself, and then paying off family and friends too.

Piggy bank/Rainy day fund aim: £100
First F/F debt to pay: Mum, I think somewhere around £300 in total to see me over between changing jobs

MrJester

Extra £50 came in today that was owed to me. Going to re-assess how much is where and where it is needed. It may go straight into my spending account to alleviate some of the pressure there.

I have two accounts I use, the main one which has all my main debits coming out and have left exactly enough in there to pay for everything. My second account which is for spending, I have about £180 until the 31st of this month. It's technically enough to survive on, just short of £7 per day to spend. But it's not much. All it takes for me is a takeaway here and there and a meal or two out with my GF and it's mostly gone.

I've already bought food for this week which should last over the weekend.

I'm constantly trying to remind myself that this needs to not just be a short term fix until money starts coming in regularly again. I need to be proactively moneysaving for the foreseeable future, so I can rid myself of debt. Forever. There was one thing I wanted to buy myself this week, and it was only £12. But then I know that if I buy that, then something else will soon follow.. and the snowball will begin until I have mere few pounds to live on.

I'm still on partial universal credit, which should mean after they take into account the PAYE i received this month they'll give me maybe £100. It's not a lot, but it definitely helps and that'll go into my spending account. I worked it out that after my partial pay cheque and some universal credit I'll be able to pay all my bills and have approx £300 spending over the month.
This is a doable amount in total even if i wasnt moneysaving, so hopefully i can spend less than that. Then, only top up in my spending account to my future spending budget (again i think 300-350 range) which means whatever the difference can go to my short-term saving goal, and/or my F&F debts.

I do feel pretty in control of my money right now. That's a nice feeling, even if it is still a fairly anxious state until I have regular income.

It's rather exciting having a plan of action ahead, again. Even with all this debt, I'm a much happier person than I was last year when I was making track to getting rid of just a few grand in debt. Now it's 25K! But I kind of like the challenge. I put myself here and I want to show I can damn well get myself out of it and pay every penny back. Then never be in debt to anyone or anything ever again!

Here's to us, moneysavers :beer: