DMP- Best way?

kimwp

Lolly18 said:

Thanks all,

reading the threads on this forum has been a massive help. The support from you guys is amazing.

I’ll go ahead and cancel my DD’s for April. Tomorrow I’m working on a brand new monthly budget to include my emergency saving.

ill update as I go!

Sounds great lolly, I second the others in stopping your non-essential payments now. Don't forget to include presents and everything else you spend in your budget - even if you just pay at the time at the moment - this needs to change to regularly saving up a presents "pot of money" that you spend from instead of credit. Going back through your bank statements is a great way of identifying what your spends in different categories have been.

ayupmeduck

£117 for haircuts a month and £600 for food, those can be cut down. 

Lolly18

ayupmeduck said:

£117 for haircuts a month and £600 for food, those can be cut down. 

Please tell me how you could possibly know what I need to spend each month on food and haircuts?

scourses

Do you have Contents Insurance & Life Insurance, if not would really think about getting that sorted. 
Good luck with it all. 

Lolly18

scourses said:

Do you have Contents Insurance & Life Insurance, if not would really think about getting that sorted. 
Good luck with it all. 

i have a life insurance policy through work, should definitely look into contents insurance though, thanks for picking that up 👍🏼

stu12345_2

don't forget TV licence,unless you never watch live TV, 

Lolly18

stu12345_2 said:

don't forget TV licence,unless you never watch live TV, 

Not paid a tv licence in years mate,

watch catch up barring BBC iPlayer 😉 and Netflix 

Lolly18

Gone through our full finances together with the other half.

she will be earning more money next month so will be taking on more of the monthly costs we have of running the house etc.

iv accounted for everything including a gift pot, car maintenance pot, school supplies, clothing and accessories pot, leisure and activities pot.

All accounted for and set up. Leaves me £500 PM for the emergency fund. Which will start this Friday!

To be honest I feel great (aside from the slight anxiety of missing all my payments next week), everything is accounted for and money put aside, instead of the usual scraping together money to pay debt or thinking of ways to steal from peter to pay Paul. 

I feel like iv turned a page, constantly reading other people’s threads of how they’ve got on and if im honest, im looking forward to them getting defaulted so i can start playing the game properly.

Will update when anything happens!

im sure I’ll definitely need advice on the way!

Grumpelstiltskin

Lolly You will realize debt is one of the last few taboo subjects.

No one talks about their debt and you think you are the only person with problems but I can guarantee there will be people you know who have the same or worse problems than you.

You can always come on here and talk about your problems.

Martico

That all looks really positive, Lolly! Keep on at it