£10 k debt

Working_Mum

Hello martigem,
Well done for getting this far!!

There is some good news in your posts so far in that you can increase your earnings a little by asking your daughter for board and reduce your monthly payment for your gas & electricity as you are in credit.

A few things which i did when I started out which helped me:-

1. I arranged online log ins for all of my accounts - bank/credit card/insurances and utilities
2. checked all my standing order and direct debits that they were currently required and charged the payment dates of some which didn't fit with when I got money in to pay them
3. did a massive stock take of all food, cleaning and toiletry products - this meant I wasn't buying stuff I already had
4. got myself organised so I didn't miss payments dates but also didn't panic buy food etc when I had stuff at home
5. left my purse at home
6. worked out a weekly cash budget and used cash cash cash!!
7. kept a spending diary of everything I spend my money on (really illuminating as it turns out I buy food when I am stressed!!).
8. I read this site and Dave Ramsey's Total Money Makeover religiously!!
9. I "snowballed" my debt figures so I had an idea as to when I could be debt free and then strived to bring it forward!
10. every single day I check my accounts which means I don't have many surprises and I faced my fears!!
11. pop notes in my diary a MONTH ahead of renewals for insurances/mobiles/utilitues etc and got quotes in good time and made some fab savings
12. I celebrated every little success

Keep posted and keep asking questions, there is always someone who is wise and kind and able to help!

lika_86

martigem wrote: »

she earns around £800 to £1000 per month so yes the 10% would help and it is a great idea to get her to save 10% as well

I'd suggest she pays at least £200 if you're buying all her food too. She won't get a better deal elsewhere and it will help her to appreciate the value of money.