First Steps to Solvency

theoretica

alt80 said:

 Up thinking about the 0%s and any other ways to deal with it and getting anxious about not sleeping when I’ve got a big day on the fee earners tomorrow. Had some big instructions come in this week normally would be buzzing but half panicking about getting the jobs done with me half asleep most days and fee earning staff booked up for weeks. Why I’m looking at getting another guy tbh. Wish I could sort my head out and get on. 

Are you still looking for a miracle?  For the cards it seems to me you have a number of different options, all of which are remarkably similar in cost - sometimes those are the hardest decisions to make.  Personally I would incline towards paying off the cards with a bit of juggling and spending card keep things on 0% and not go for a director's loan.  The cards will have more milestones to mark as you pay them off individually, but also it has the straightforwardness of running up cards and paying them off without fruitless hunting for a technical shortcut.

Do any of your apps or counselling include techniques for parking thoughts? 'I'm not thinking about that now'. 'That's a decision to make when I am on top form, not at night.' Your attention and mental form is a resource to be managed, like any other, and try to adjust your activity flow so when you are on top form you are doing the things that really need that and not expecting to be there all day every day.

alt80

Hardly any sleep probably 3/4 hours in total. Actually had a good morning on the work front. Calmed down re personal finances, got a few plans in place put reminder in my phone to check in a few days time. Wife said I should deal with it same way as the spends - really good idea tbh. Need to be more measured about it. The debt I want to deal with but need to still have a life of some sort.

@Humdinger1 yeah that’s the one, he does a lot of blow. Doesn’t touch smack to my knowledge though ha. Someone who will never have to deal with consequences financially- lot of family money and where the portfolio comes from. Lifestyle we’d all like tbh but yeah must be something missing for him wouldn’t get !!!!!! up as often as he does if everything was good I don’t suppose. Need to keep away socially. We are good mates but I know he won’t keep away from the stuff and I’ll have a few drinks and probably won’t keep away either. Not great.

alt80

@theoretica I’m just looking for the most efficient solution tbh. Given up on the miracle- there isn’t one haha. 

Thank you for the advice, makes sense and will have a think. 

Yes I have touched on it with the counselling. Works sometimes. Others not so good. Thank you for the advice. Good way to think about it re mental resources- need to stop getting angry not 100% all day everyday I know. Do want to move on build a better life for my family and I, not just talking about stuff that can be bought tbf.

getmore4less

alt80 said:

Hardly any sleep probably 3/4 hours in total. Actually had a good morning on the work front. Calmed down re personal finances, got a few plans in place put reminder in my phone to check in a few days time. Wife said I should deal with it same way as the spends - really good idea tbh. Need to be more measured about it. The debt I want to deal with but need to still have a life of some sort.

@Humdinger1 yeah that’s the one, he does a lot of blow. Doesn’t touch smack to my knowledge though ha. Someone who will never have to deal with consequences financially- lot of family money and where the portfolio comes from. Lifestyle we’d all like tbh but yeah must be something missing for him wouldn’t get !!!!!! up as often as he does if everything was good I don’t suppose. Need to keep away socially. We are good mates but I know he won’t keep away from the stuff and I’ll have a few drinks and probably won’t keep away either. Not great.

parking things is part of weaning off instant fix.
Wife is right same with the card shuffle, do the cash flow, time line think about what and when you need new deals, research the options park for a few days and review.

worth a look though the guides and comparison sites.
https://www.moneysavingexpert.com/credit-cards/best-0-credit-cards/
there are a couple of no fee BT around , Sainsbury and Natwest(existing customers)

https://www.hotukdeals.com/deals/0-balance-transfer-credit-card-for-18-months-no-bt-fee-existing-customers-at-natwest-3657301
https://www.hotukdeals.com/deals/0-on-balance-transfers-for-up-to-18-months-with-no-bt-fee-at-sainsburys-bank-3645714


If you have a week full of fee earners and time scales on delivery allow maybe do the same with those, make all your notes  and whatever it is you do, then for each one put them on a list to tackle the write ups when there is no chance of work distractions to fill your evening/weekend needs with those.  
Try not to do them all set yourself a goal based on the time needed and spread them out, not an all nighter  to get them done.
Have your team do the others fee earners and just QA/peer review those as needed. 

if this is looking to be consistently filling your weeks then time to consider the next body to join the team.
Could be a good opportunity to take on someone to train up or someone with experience but has other skills/connections to leverage for growth. 

ryanm8655

RelievedSheff said:

alt80 said:

So much for early bedtime. Went got to sleep and now wide awake. FML know I can’t give up on this now but don’t know how many more still sober but !!!!!! nights sleep I can take may as well be back on the chang so far as sleep concerned. Up thinking about the 0%s and any other ways to deal with it and getting anxious about not sleeping when I’ve got a big day on the fee earners tomorrow. Had some big instructions come in this week normally would be buzzing but half panicking about getting the jobs done with me half asleep most days and fee earning staff booked up for weeks. Why I’m looking at getting another guy tbh. Wish I could sort my head out and get on. 

If I wake in the night I make myself not pick up my phone and look at the screen. If I do, that is it. I won't go back to sleep again.

Same here ha.

Are you still doing the exercise @alt80 ? I do find that helps a lot. How about the herbal sleep stuff? I also find just relaxing about the time I need to wake up and knowing I'll catch up eventually helps.

On the personal finances, it's easier said than done, but I think you can relax in terms of the scenario planning. Once you take into account what you've paid off by the time the 0% runs out you'll be able to get further 0% offers for the small amount you haven't cleared on time. I'd just keep hitting the targets payment wise and think about it when the time comes. July is 5 months away so no need to be rash re: directors loan.

Some of it will be the trying to get your body used to going without the chang. I remember my mate's dad gave up coffee and he was in bed for two weeks sweating in withdrawal...I think you're doing bloody well on that front.

Well done on a productive morning! I now it's different but I have found just accepting the sleep I've had has helped me functioning on a crap nights sleep, also makes me far more relaxed about it when I do go to bed and I end up sleeping better...

getmore4less

ryanm8655 said:

RelievedSheff said:

alt80 said:

So much for early bedtime. Went got to sleep and now wide awake. FML know I can’t give up on this now but don’t know how many more still sober but !!!!!! nights sleep I can take may as well be back on the chang so far as sleep concerned. Up thinking about the 0%s and any other ways to deal with it and getting anxious about not sleeping when I’ve got a big day on the fee earners tomorrow. Had some big instructions come in this week normally would be buzzing but half panicking about getting the jobs done with me half asleep most days and fee earning staff booked up for weeks. Why I’m looking at getting another guy tbh. Wish I could sort my head out and get on. 

If I wake in the night I make myself not pick up my phone and look at the screen. If I do, that is it. I won't go back to sleep again.

On the personal finances, it's easier said than done, but I think you can relax in terms of the scenario planning. Once you take into account what you've paid off by the time the 0% runs out you'll be able to get further 0% offers for the small amount you haven't cleared on time. I'd just keep hitting the targets payment wise and think about it when the time comes. July is 5 months away so no need to be rash re: directors loan.

When trying to do it without fees using purchase cards unless you have very silly outgoings(that has been sorted) you have to think in advance to start loading the new card with regular spends.

Alt80 has ~£1kpm that is easy to load onto cards might be more when a bill is due.

 

ryanm8655

getmore4less said:

ryanm8655 said:

RelievedSheff said:

alt80 said:

So much for early bedtime. Went got to sleep and now wide awake. FML know I can’t give up on this now but don’t know how many more still sober but !!!!!! nights sleep I can take may as well be back on the chang so far as sleep concerned. Up thinking about the 0%s and any other ways to deal with it and getting anxious about not sleeping when I’ve got a big day on the fee earners tomorrow. Had some big instructions come in this week normally would be buzzing but half panicking about getting the jobs done with me half asleep most days and fee earning staff booked up for weeks. Why I’m looking at getting another guy tbh. Wish I could sort my head out and get on. 

If I wake in the night I make myself not pick up my phone and look at the screen. If I do, that is it. I won't go back to sleep again.

On the personal finances, it's easier said than done, but I think you can relax in terms of the scenario planning. Once you take into account what you've paid off by the time the 0% runs out you'll be able to get further 0% offers for the small amount you haven't cleared on time. I'd just keep hitting the targets payment wise and think about it when the time comes. July is 5 months away so no need to be rash re: directors loan.

When trying to do it without fees using purchase cards unless you have very silly outgoings(that has been sorted) you have to think in advance to start loading the new card with regular spends.

Alt80 has ~£1kpm that is easy to load onto cards might be more when a bill is due.

 

Yeah, makes sense but without going back through the posts didn't he say he'd only have £1k in July that ins't on 0%? 2% of £1k would be £20. Appreciate every little helps. Personally would avoid purchase cards but that's because it's how I got into debt in the first place and it's all too easy to spend what you wouldn't usually, no matter how disciplined you are. Especially when mrsAlt has a weakness in this area too.

getmore4less

ryanm8655 said:

getmore4less said:

ryanm8655 said:

RelievedSheff said:

alt80 said:

So much for early bedtime. Went got to sleep and now wide awake. FML know I can’t give up on this now but don’t know how many more still sober but !!!!!! nights sleep I can take may as well be back on the chang so far as sleep concerned. Up thinking about the 0%s and any other ways to deal with it and getting anxious about not sleeping when I’ve got a big day on the fee earners tomorrow. Had some big instructions come in this week normally would be buzzing but half panicking about getting the jobs done with me half asleep most days and fee earning staff booked up for weeks. Why I’m looking at getting another guy tbh. Wish I could sort my head out and get on. 

If I wake in the night I make myself not pick up my phone and look at the screen. If I do, that is it. I won't go back to sleep again.

On the personal finances, it's easier said than done, but I think you can relax in terms of the scenario planning. Once you take into account what you've paid off by the time the 0% runs out you'll be able to get further 0% offers for the small amount you haven't cleared on time. I'd just keep hitting the targets payment wise and think about it when the time comes. July is 5 months away so no need to be rash re: directors loan.

When trying to do it without fees using purchase cards unless you have very silly outgoings(that has been sorted) you have to think in advance to start loading the new card with regular spends.

Alt80 has ~£1kpm that is easy to load onto cards might be more when a bill is due.

 

Yeah, makes sense but without going back through the posts didn't he say he'd only have £1k in July that ins't on 0%? 2% of £1k would be £20. Appreciate every little helps. Personally would avoid purchase cards but that's because it's how I got into debt in the first place and it's all too easy to spend what you wouldn't usually, no matter how disciplined you are. Especially when mrsAlt has a weakness in this area too.

I cant recall the dates but there is a 3 year plan with multiple cards and the balloon(5y keeping the BMW) provisional planning for those running out and hitting the balloon needs to be in place so it just needs minor adjustment to take account of available deals.

(changed my mind and tried a search,   2 cards run out July)
going way back 

0% deals:

BC1 – Dec 20

BC2 – Jul 21

M&S – Jul 21

Sainsbury’s – Jan 22

MBNA – Oct 22

most recent

Feb-21	Balance
Barclaycard	£6,320.00
M&S	£1,185.00
Sainsburys	£6,450.00
MBNA	£11,080.00

Short term(July) looks OK with a small carry over  a few sales might even make it with a pay off every month card.
If the ones that have been paid off may be in their interest free cycles so could be used rather than cancelled to stagger cash flow.

Sainsbury also looks close as well with the current funding to debt for this year
Spends card seem to max out around 20 months so too early to help MBNA carry over 

Unless I have missed something its not looking like a problem for this year with a bit of cashflow adjustments 

FootyFanDan

I think you need to come to the realisation there is no quick fix in the situation, but you need to find a middle ground where you still live (within your means) and also tackle the debt. The constant want or search for the miracle cure is causing you unneeded stress to an already stressful few things for you. Its admirable that you want to sort the debt you need to find a point that your comfortable with the length of time it could take to clear the debt. You are making great progress and I think if you can find a balance that both gets the debt down and lets you live a little it could be good for you. At the moment it seems your obsessing over wanting to have the debt gone but you need to be honest with yourself and realistic on a period to get it cleared, once you have this I think you might be able to let it go from your mind a little. 

With sleep when I was worrying about debt and paying it and drinking way more than I should my sleep in general was awful which impacted me massively, once the debt issues were being dealt with and I had set timeframe and a clear plan that I was comfortable with slowly the stress dropped. I appreciate you have other stuff to mix in as well but you are handling this really well.

alt80

Afternoon on the work and evening with wife, son and dog. Actually unexpectedly had a really good day no idea how that happened on so little sleep but not complaining. Not too good now but hoping to get to bed by 11.30 and actually go to and stay asleep. Last night I accidentally woke my wife up so she had a rubbish night’s sleep too, gone to bed at 10pm this evening haha. Need to get into the kind of sleep routine she’s got, not a care in the world ha.

@getmore4less No nothing missed mate re cards thanks.

I think you’re right mate, always wanted everything done yesterday bit of a running joke at work staff saying they reckon I don’t sleep just work through machine lol. Don’t think it’s done me a lot of good last few years having the instant fix mentality, need to work on it to sort the debts as well as other stuff. My wife is definitely right about parking it for a few days.

Will def have a look at the no BT fee options. No accounts with Natwest unfortunately.

Trying not to fill my evenings/ weekends with reports mate. Know I could get more done if I was out all day and writing them up all night been there for years but right now I’ve not got the energy. Hopefully get back to it soon. Agreed re not doing the all-nighters anymore, do get time to send this stuff back. Team are doing vast majority of the fee earners and robust peer review process in place too. Things pretty good on that front also get some external input too.

Got the lad I’m mentoring, could turn into someone to train up. Was meant to be going to London or another big city after uni but now not so sure with covid thinking about staying closer to family. He’s a bright lad, lot of potential. Agreed re looking for someone more experienced with other skills/ connections when time comes def will help growth - what I did with lettings side and really paying off now. 

I have considered the £1k left could either be gone with sales (more than that waiting to sell now) or could go the other way and be a bit higher if something unforeseen comes up. Sacrificing having anything on the savings/ EF side to pay the cards at the rate I am - get it and the o/d cleared off as much as possible before the 0%s run out. Tried to keep away from trying to chase hypothetical targets on dates (apart from the 0%s). At one point I spent far too long number crunching working out by when I’d owe nothing on cards, then got obsessed with the RR balloon and everything must be gone by the time that due including the balloon and I’ll be debt free etc. Can’t do that was driving me completely mad. I just need to keep a check on it all, pay it down and if it goes a bit over April 2024 know I’ve taken the best options utilised 0% deals etc and done the best I could with it.

@ryanm8655 Even the wife has let me off the exercise mate I’ve not really felt like going into details but not been very well mentally or physically really generally just all over the place. Not eating much either most days need to start making myself eat something for each mealtime again, don’t need to lose weight. Know I need to get back into the exercise - I do go for a walk with the family but that’s not much really.

Herbal sleep stuff can power through that tbh ha. Should probably not do that lol.

Thanks re debts think you and @getmore4less and others on here are right. Need to chill out about it a bit really. Even my !!!!!! in-laws who hate debt said the other day to me going to make myself ill clearing debt next FML (hear the full run down from wife about it ha).

Ha I’ve had some ups and downs re keeping off the stuff mate. Tbf I’ve never done that everyday and had breaks from it before but thanks.

Funny you should say about the time of waking up, often lie in bed working our how many hours and minutes until need to be up in the morning. Dawn rolls around and the !!!!!! birds start chirping. The sleep really is a work in progress but as you say just accepting it for what it is I hope might help a bit thanks.

@FootyFanDan Thanks mate. I want it gone yesterday tbh move on from what’s been a bit of a blip in my life past few years and definitely adding to the stress levels. Half kind of feel I’ll have sorted my head out if I clear the debts haha probably not tbf. Just want to move on, work on business and family. No more self destructive stuff, keep with the programme. Boring probably but better than the alternative for me mate.

Wife sort of gets me wanting to !!!!!! the cards off but doesn’t understand my ‘obsession’ with making the RR balloon payment, just doesn’t see it at all. Told me in all the time we’ve been together not been 1 month I didn’t owe money to JLR and never been a problem before actually been longer than that FML ha.

I don’t function well at all without sleep either so 100 relate to that.

... well that turned into a bit of long one ha bed now for me I think. 😆