Getting myself debt free - consolidation?

ryanm8655

Thanks for the replies.


Will check out those links for further advice.


Phone contract is my only utility (as bills are included) but this isn't up until January 2021. Previously I was on sim only having dragged out my iphone for an extra year so will do the same when the contract does end, though by then I hope my debts will be much lower. I got a very good deal on my new contract though, considering it is the iphone XR.


Actually did my dissertation on the impact of the internet on competition amongst retailers. I do tend to buy online if it's cheaper e.g. amazon, particularly for birthday's etc. I guess what I meant is my debt issue is mostly down to eating out and going to fancy bars plus expensive holidays than an issue with shopping. Though I would be wasteful e.g. if I wasn't at home and we were going out after work ad-hoc I'd pop out and buy a shirt and stupid things like that.


I've started to have a clear out and sell things I don't need. Discovered a decent camera I forgot I had and only used once so that should fetch a bit and have a few other things to sell.


Also have a couple of paintings I can sell, though in my experience they don't tend to sell well on ebay. Have a banksy print (pretty worthless but a decent quality one rather than one of the cheap ones... might get a tenner or so) and framed painting of tower bridge (cost £350 and is as new but would likely struggle to get much for it on ebay given people tend to search for specific things).


Is there much of a market for men's shirts? They're not high end (jack wills/next/Charles tyrwhitt) but I have so many that cumulatively they could fetch a reasonable amount. Also have a couple of blazers/sports jackets I don't wear often and some trainers I could flog (though probably not worth a great deal). Considering selling my mac as I haven't used it in months (work supplies a laptop).


Between now and July is going to be tough on the wallet as I have prearranged events up until the 3rd weekend of July. Then have a wedding at the end of August for which I need to book transport and accommodation still.


Have a stag do next weekend (prepaid except for booze and food).
Wedding on the 6th July (prepaid except travel, food and booze included)
Stag do 13th July (Trying to get out of spending £180 on shooting and skip to the meal after but they're playing hardball :-/)
July 20th Boxing at O2 (Prepaid except a few beers when there)
End of August Wedding (Need to organise accommodation and travel - it's in the depths of Dorset so not going to be cheap for cabs etc.)


I am also moving at the beginning of July, so need to sort a man and van to help shift everything (I don't have a car), plus it is unfurnished so need to buy a bed and mattress first and foremost (Can get a cheap new one for about £200 - which after delivery probably works out no more expensive than buying used - have a topper so can get away with a cheap mattress).


The good news is my rent will be £200 less and I'll also have an extra £200 from the difference in deposit (assuming no deductions).


Hoping I can raise about £500 from selling stuff on ebay (kitchen stuff/coffee machine/laptop etc. that I've been keeping hold of until I have my own place but won't need for at least a couple of years) that I can use to still make a decent dent in debts this month and next...


After August the weddings and stag dos will be out of the way and things will be much easier.


I managed to get a suit and coat in the sale at the weekend (2 necessity purchases funded through the sale of a spare set of bike wheels) and will need a couple of pairs of new jeans this year (though can hold off until the end of summer) so will need to budget £60-80 for those.


This isn't intended as a list of excuses, more setting all of my upcoming commitments in writing.


Thanks,
Ryan

db2016

re the camera,

look for specialist camera trade in places. there will be lots near you.

EssexHebridean

Also Wex Photo Video & MPB Photographic both buy decent used camera gear and will give a fair price. I tend to go that route if I'm selling as you're less likely to get scammed than using eBay.

Get any travel you need to book sorted ASAP to get the benefit of the advance fares. If you don't already have a Young Person's Railcard and are the right age group then buy one of those before you travel and that will also reduce the fares by a third so long as you're not travelling in peak times. (Clue: don't travel in peak times!) Similarly for accommodation booking ahead might net you a travelodge or Premier Inn room at a discounted rate.

ryanm8655

Thanks for the tips!

I do have a railcard so can revise down my travel estimate in my budget too.

Not sure there are any big chain hotels for the wedding (it’s literally in the middle of nowhere at a country estate), bridport is the nearest sizeable place but will take a look.

Have family the other side of Dorset (an hour or so drive) so considering a cab back to there if I can find people to split with (likely going to be three figures) and it works out cheaper.

Still having a clear out, found a load of textbooks, one which is worth £30...every little helps!

Jox

Good for you Ryan, sounds like you have some plans in place and once your busy summer is out the way you can concentrate on making a dent in the debts. It may mean not so much going out or finding cheaper entertainment but it will feel good to get the debts down, pay them first every month and see what you have left over for going out and budget accordingly.

Willing2Learn

Just dropped by to say well done Ryan on listening to all the advice. Things will be much easier for you now you are starting to budget properly. And well done to EH for being so persistent!!

EssexHebridean

Haha cheers W2L - worth it in the end.

Ryan take a look at Hotels dot Com and Booking dot Com through topcashback for your accommodation bookings - also Airbnb are worth a look.

ryanm8655

Cheers. Will take a look this eve.

Half tempted to hire a car and drive...would mean not drinking though, which is very unlike me.

Worked from home today so cooked up enough pasta to last the rest of the week, also got a load of 60p noodles for work, in case I forget lunch. Usually buy a £3 meal deal every day but that soon adds up over a month.

Can keep the groceries pretty cheap over the next month (they usually are anyway since I ate out so much previously) as have loads of pasta and rice to use up.

Current flatshare is a little awkward as I’m essentially renting a room in a family home (wasn’t sold to me that way) so am often tempted to eat out/get takeaway to avoid being in the way when they’re cooking big meals every eve. Will be better in the new place as I’m a tenant and we all work different hours. Have a kettle in my room though so been buying £1 ramen pots and fruit to stop that temptation to splurge when peckish and the kitchen is in use (used to spend about £45 a week on takeaways on average then eat out on top of that).

Got 12 items on eBay this far and haven’t tackled the clothes yet...tempted to get rid of my Sonos one as well (it’s pretty redundant in a flatshare, bought it when I had a two bed flat with a mate). Would make a hefty loss on it but could buy another for less when I’m in a better position in a couple of years time...

Any tips for selling on Facebook? Never get much interest...am I pricing things too high or something? Remember doing a car boot years ago and someone tutted and threw a pair of barely worn £130 jeans on the floor when I quoted a tenner...is it just that sort of crowd? Ha. (I would never spend that sum on jeans these days despite my financial irresponsibility).

Thanks.

JayRitchie

ryanm8655 wrote: »

Cheers. Will take a look this eve.

Half tempted to hire a car and drive...would mean not drinking though, which is very unlike me.

.

I was going to suggest that but was concerned it was the sort of impractical advice which is annoying to read! I've known people do this - and noticed that at every wedding I go to there are people driving home in the evening, often for long distances.

Might there be others going from London you could share the car hire with if you cant find a reasonable hotel?

EssexHebridean

Your reference to that £3 meal deal made me smile Ryan - so many people do this, but it's another which is interesting as if that's your "standard" lunch, even ignoring the days when a little something extra sneaks into the basket too, or the fact that the chances are a lot of people will also be buying a coffee, or breakfast, the annual cost would be over £700. Add on a daily coffee on work days as well and that doubles, for many. Scary when you stop looking at the "oh well it's only a couple of quid" aspect and start to take account of the bigger picture.