Finally seen the light…

shaaan1329

I’m 28 with two children and live with my partner. I have around £3,000 in debts. I earn £23,000 a year, hoping for that to increase to around £30/32k in around October time when I move positions. 

I’ve always been an overspender to the point it’s become a secret addiction. My partner is aware of my situation to an extent as he’s seen the letters but I haven’t told him how bad it is. I lie through my teeth to him and I know I need to sit down and chat with him as I’ve been lying to both him and myself about the extent of my finances. I’ve just ignored the letters etc. and as such none of my debts are being charged interest, but my credit score is on the floor. 

I’m looking to buy my first home with my partner summer next year and my aim is to be completely debt free by April and have £10,000 in savings to put towards the deposit. 

I’ve done a budget which I’m going to need to stick to very tightly but it is doable. 

Here for the support with like minded people  

Brie

Well done for facing up to the problem.  I do suggest talking to your partner as a relationship with secrets is hard to maintain.

You say you've done a budget (great!).  Is it like to SOA that on one of the top stickies in this forum?  That's a good one as it includes everything.  Best to do it with both your incomes and all of the household bills as that's the only way to get a true picture of the overall situation.  You might have your spending issues but maybe your partner does too and it's only when you sit down and look at it all based on your bank statements that your get the real picture.  Not saying that you have to give up all extras but keeping it as "extras" rather than "everydays" is the key to success.  

Well done too on getting the new better paid role and having a clear goal of a deposit for your mortgage.  

MFWannabe

shaaan1329 said:

I’m 28 with two children and live with my partner. I have around £3,000 in debts. I earn £23,000 a year, hoping for that to increase to around £30/32k in around October time when I move positions. 

I’ve always been an overspender to the point it’s become a secret addiction. My partner is aware of my situation to an extent as he’s seen the letters but I haven’t told him how bad it is. I lie through my teeth to him and I know I need to sit down and chat with him as I’ve been lying to both him and myself about the extent of my finances. I’ve just ignored the letters etc. and as such none of my debts are being charged interest, but my credit score is on the floor. 

I’m looking to buy my first home with my partner summer next year and my aim is to be completely debt free by April and have £10,000 in savings to put towards the deposit. 

I’ve done a budget which I’m going to need to stick to very tightly but it is doable. 

Here for the support with like minded people  

Welcome 
firstly you need to sit down with your partner and  confess to everything: if you are planning to buy a house together that’s a huge financial commitment and neither of you can have secrets from each other 
imo it’s the ‘secrets’ that cause the issues, resentment and breakups and not the actual debts themselves 
Then do a household budget including absolutely everything; incomings, expenses and debts etc
I guess the debts have defaulted as you say you’ve ignore the letters and they are not charging interest?