Back here with more debt than ever before

twiggy86

Well done for recognizing that you need to sort this now and also that your light bulb is a bit dodgy! 

If you're not desperate for the money right now, you could try listing the bag on second hand sites for more than the £850 to see if it sells. Then set yourself a firm deadline that if it hasn't sold by x date (and put that date in your calendar!), that you will sell it for the £850. But I'm with the others that it absolutely should go if you do't even like it! I'm also going to hazard a guess that this is possibly not the only designer item you have that you don't like or use?! 

DFB35

I have sold the bag, I don’t know why I’m feeling so weird about it

I could also potentially sell a few other bits which I have valued at around 1.5-2k (but spent a LOT more on!). So in a way I can clear the rest of the credit cards not on 0%

But I feel sick for buying those things in the first place and now selling at a loss

DFB35

Credit cards not on 0%:

American Express - £600 now £540 - I’m waiting for annual cash back of £276 which will reduce the balance to £324

Halifax - £1,900

**First Direct - £790 now £0**

MFWannabe

DFB35 said:

I have sold the bag, I don’t know why I’m feeling so weird about it

I could also potentially sell a few other bits which I have valued at around 1.5-2k (but spent a LOT more on!). So in a way I can clear the rest of the credit cards not on 0%

But I feel sick for buying those things in the first place and now selling at a loss

Well you will have learned a lesson 👍
The good thing here is you have these items to sell to clear these interest bearing cards, would be worse if you didn’t have them 🤷‍♀️

MFWannabe

DFB35 said:

Credit cards not on 0%:

American Express - £600 now £540 - I’m waiting for annual cash back of £276 which will reduce the balance to £324

Halifax - £1,900

**First Direct - £790 now £0**

Bet you feel better paying the card off? 👍
You could pay those other two off soon too 👌

DFB35

Plan of action while I’m thinking things through about selling more items…. 

I have £293 in my account to last until payday on 28. I generally give myself allowance of £100 a week which covers travel to work (if not wfh), lunches if not wfh and general spends. 

However I have committed myself to getting my eyelashes and brows done £80, hair £50 and also beauty procedure which is £120.

There is also a friends birthday where I’m not sure how much I will spend. 

So I need to cancel my beauty appointments and also figure out a budget for my friends bday. I feel very bad cancelling as it will also have a knock on effect on the beauticians who might be counting on the money? They are all local business women rather than a large salon.  But I know I have to do it.

I will put all my spends for next two and a bit weeks here to hold myself accountable. Any money left over I will put towards debts or save. 

MFWannabe

DFB35 said:

Plan of action while I’m thinking things through about selling more items…. 

I have £293 in my account to last until payday on 28. I generally give myself allowance of £100 a week which covers travel to work (if not wfh), lunches if not wfh and general spends. 

However I have committed myself to getting my eyelashes and brows done £80, hair £50 and also beauty procedure which is £120.

There is also a friends birthday where I’m not sure how much I will spend. 

So I need to cancel my beauty appointments and also figure out a budget for my friends bday. I feel very bad cancelling as it will also have a knock on effect on the beauticians who might be counting on the money? They are all local business women rather than a large salon.  But I know I have to do it.

I will put all my spends for next two and a bit weeks here to hold myself accountable. Any money left over I will put towards debts or save. 

You need to put your own needs and budget first, otherwise you end up in the same debt cycle over and over again 
If you don’t cancel it will just add to your debt because it sounds like you would have been paying on credit card? 

DFB35

I’ve been so chronically overspending the last few months, paying for stuff like food shop and my weekly spends on credit but cash for cash only purchases such as beauty treatments. So another step I’ve taken was to separate my food shop money from my normal account. Also takeaways on credit card. I don’t know what I’ve been thinking. 

So my monthly commitments are £1700 into bills account. £400/£500 into food account. £276 holiday payment which leaves me £400 weekly spends. The bills account covers minimum payments but doesn’t allow for savings at the moment. I’m going to go through all my bills and budgets again. 

I am due to have a bonus in February which will have to be put towards one or both of my 0% credit cards as when that 0% runs out I’m not sure I’ll be able to get another deal. 

I really want to turn this around and actually start saving properly and not have to pay so much each month on our loans and credit cards. 

joedenise

How many people are you shopping for? £400/£500 seems a lot for food.  Does this include takeaway?  Perhaps you could cut back by doing your own Fakeaways instead.  There are plenty of recipes online for curries, Chinese, Southern Fried chicken etc.

I've actually got to the stage that I'd far rather make my own than having a takeaway!

Good luck with clearing your debt.

RelievedSheff

joedenise said:

How many people are you shopping for? £400/£500 seems a lot for food.  Does this include takeaway?  Perhaps you could cut back by doing your own Fakeaways instead.  There are plenty of recipes online for curries, Chinese, Southern Fried chicken etc.

I've actually got to the stage that I'd far rather make my own than having a takeaway!

Good luck with clearing your debt.

We have more Fakeaways than takeaways these days 😀

Real takeaways are too expensive now. The money is better spent elsewhere.  

We have Fakeaway Southern Fried chicken tonight.