Looking for a debt-free wanna-be budy!

Cassie123_2

Hi!

Quite new to this site so just coming to terms with the lingo!

Desperately hoping to get debt free after a year where I seem to have lost control of my spending... :mad:

Looking for a group of people in a similar situation so we can motivate each other - anyone in a similar position interested?

I have debt of around £8000.

Cassie

lunar

Hi cassie, you will get loads of DFW buddies on here. Ive been posting for a few months and have found so many people to support me and find new ways to beat the debts and still enjoy life.

keep on posting and think about putting up an soa so people can offer you support and advice.

Cassie123_2

An SOA?! Like I said, still getting used to the terminology!

Thanks for response

lunar

look at the sticky thread at the top of the DFW forum, it has tips for new posters

sammiboo

Cassie123 wrote: »

An SOA?! Like I said, still getting used to the terminology!

Thanks for response

Statement of affairs

post up all your incomings and outgoings you have each month.
Think of everything. Also include your debts and your apr

Katerz

hey!

I'll be your buddy! Im about 7.5 k in debt! Arrghh!

molly24_2

Hi Cassie

I am quite new here too and I am also desparate to be debt free!

I have set myself a debt free date of 14th September 2008 - the day before I turn 25, so I can wake up on my birthday completely debt free.

I need help and advice on how to reduce my debt as quickly as possible. I would love to be able to help each other out, motivate etc

I currently owe (roughly)

1200 Halifax o/d
1200 Halifax c/c
1350 Virgin c/c
1300 M&S c/c
5000 RBS loan
666:eek: RBS loan (interest free thankfully)

so total is £10,716 - This is more than I originally thought. Think I will have a little cry...!

SOA is statement of affairs i think - basically a list of all the money you have coming in every month, your monthly outgoings - rent, phone, food, utility bills etc - and your debts (amount, interest rates etc)

oops - already been answered

This is so you can see where your money goes and identify the best plan of action - where you can cut back and which debts to pay off first.

Hope this helps

molly x

Cassie123_2

Thanks All,

Molly, Katerz -
We seem to be in about the same position – perhaps we could form a support group for newbies?

I’ve been looking at some of the challenges other people have set and they look really good. For example, no spending Monday to Friday (managed that this week – little cheer!). :T

There’s so much good information on the forums, but takes a lot of time sifting through.

Molly don’t cry – today can be the start for reducing the debt.

I will work on my SOA this weekend and post tomorrow. Think it’s something like this:

Monthly Incomings:

My salary - £1,300 p/c/m
Lodger - £235

Total - £ 1535

Monthly Outgoings:

Mortgage/Rent - £450
Council Tax - £130
Water - £30
Electric - £30
TV License - £11.99
Sentanta - £15
Phone - £20
Food - £200
Car Insurance - £90
Petrol - £200
Loan - £90
Credit card repayments - £200

Total: £ 1467

I have a partner who is a student, so brings in some money but is also quite expensive at times!

Lucy1982_2

I think that is a wonderful idea, I think having support through your debt free jounrey is really helpful and you will be amazed at how many people come running to your help when your really need it.

I realised that last night... this really is a wonderful place

molly24_2

newbie support group would be great.

I have posted my SOA on here before but I think it needs updating so I will also work on mine over the weekend so I know exactly what my current position is. The experienced DFWs give great advice so I am sure they will be of immense help.

EmmaJay

Cassie you Car Insurance per month seems rather high. Over £1000 per year. Is this correct? Or have you included tax/mot/servicing costs in that aswell.