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Time to Change

edited 15 January 2020 at 2:17PM in Debt Free Diaries
4 replies 282 views
MattWoodmeadMattWoodmead Forumite
5 posts
edited 15 January 2020 at 2:17PM in Debt Free Diaries
Hi all. I'm Matt and I have come here to turn things around.

First off, I just want to thank my gf Nicola :love: for supporting me and my sister (AmyWoodmead on this forum :wave:) for encouraging me to come on here and face my problems. I literally wouldn't be doing this if it wasn't for you.

I have been in debt for my whole adult life, starting with student loans and then spending on credit cards at university and then taking on more debt and spending way beyond my means.

It got to the point where it all seemed so much that it just didn't seem to matter any more so I spent even more and just stopped caring.

But things have changed. I recently moved in with my partner and we want to buy a house and start a family so I want to publicly track my progress and I want to get out of debt and start saving for our first home.

My total debt, loans + credit cards stands at £11k (not including student loans which I treat differently).

With my new job and shared bills I should be able to save £300 a month. I will also be looking at what I can do to save more and earn more in my spare time.

Replies

  • Purplemumof2Purplemumof2 Forumite
    7.8K posts
    Part of the Furniture 1,000 Posts I've been Money Tipped!
    ✭✭✭✭
    Good luck on your journey x
    Official DFW Nerd Club - Member no. 791 - Proud to be dealing with my debts
    BC: £7070.00 :mad: Lloyds: £7850.00 :mad: MBNA: GONE :)
    Feb LTW 2/20
    PAYDBX 2020 #041 PD £298.03/£8000
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  • OnlyPariahOnlyPariah Forumite
    128 posts
    Good luck with it all. You'll find plenty of support on here and some much needed advise.

    It might be worth you completing a SOA and then we can all help to see if you can make any savings anywhere.

    https://www.lemonfool.co.uk/financecalculators/soa.php

    Change the output to MSE and cut and paste here.
    Tesco [STRIKE]£7647.88[/STRIKE] £7,488.96 Asda [STRIKE]£2,552[/STRIKE] £2,300 Virgin [STRIKE]££4,204.95[/STRIKE] £4,204.95
    Halifax [STRIKE]£2,853[/STRIKE] £2,796.64 Barclaycard [STRIKE]£7,866.32[/STRIKE] £7,866.32 Wedding £488 EF £63
  • Thanks for the support, I will look at the SOA, that looks useful.
  • I've spent this morning reviewing my spending and had some success:

    Energy bill £250 down for the year
    Switched to a new mobile provided, saved £4 per month
    Cancelled Netflix (:() saving £5.99
    Setup ebay account to get rid of old stuff

    Good start :beer:
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