This is it.

lemonpie-86

Well, I have decided to start a debt-free diary too, starting today after I decided to finally get some kind of help for my debt problem. I have contacted CCCS and have a phone appointment for next week, and I have notified my bank that I am seeking help to repay my debts.
Currently, the sorry total stands at :
Natwest student overdraft: 1300
Nationwide overdraft: 1980 = 3280 in debt.
Store card: 120.
Now for my income:
Savings: 200 ( I am going to use half of this to pay off my store card and the other to repay a friend.
Income per month:
Parents: £400
Part time job: £200.

Luckily my tuition fees and rent are paid for me by a student loan, and my next loan payment is on Monday (:T), and I will have £130 left over, which will be going towards bills (:(). So here are my outgoings per month:

Interest on my Nationwide overdraft: 12.00 approx.
Gas: 33.00
Electricity: 50.00 (this may vary, but roughly that leaves £100 for gas for three months as we pay quarterly, and £150 for electricity also, bearing in mind I live with 3 other people).
Mobile: £20 ( I am on the lowest tariff possible)
Internet: £4.50
TV licence : 11.21
Food: 200 a month, but I want to get this down to at least a 100.
Eating out: About £20 a month, give or take a couple of quid.
Lunches: About £50 a month, something that needs to go I know.
Drinking and going out: £100
Transport: £16
Store card repayment: Haven't started repaying yet as I only just got it, but I want to pay it off in full hopefully as I said before, but if not possible, I want to pay off £20 a month after getting my overdraft down.
General shopping including CD's, clothes, books, films : £150...this needs to be cut right down or to go completely. I am fed up of my wages going on rubbish I do not need, to be frank. Really sick of it.
So, that's it. I don't have a car or any insurance policies (am covered on my parent's) so that saves a lot. I don't smoke, and have stopped buying newspapers or magazines as I think they are just a waste of time. I guess I am having most difficulty with shopping, I just have to get new clothes or a CD or a book, when really there is absolutely no need at all for it. It's a strange psychology, but I guess I am thinking if I buy these things, I become a more interesting person I don't know. I always justify it to myself by saying 'oh, it doesn't matter, you're not going to miss twenty quid and you need it' when I only WANT it, and those twenty quids keep mounting on up. :eek:
I am currently trying not to drink any alcohol for a month, to see how much money I save, as this is a big money guzzler for me.
Anyway, I will try to post regularly, and any feedback or advice would be warmly appreciated.
Thanks,
Claire :A

ariba10

Best of luck.

Mupeteer

Good luck with your journey ... and with the alcohol free thing.:rotfl:

tealady

Hi. Just a suggestion with the clothes. Could you get all your friends together for a night and get them to bring clothes they no longer wear. Then you could all put a price on them and "pay" each other for clothes eg if you have a pair of jeans at £5 and you want your friends 2 tops at £2 each then you swap clothes and your mate gives you £1.
Alternatively try accessorising (thats a lot cheaper that new clothes). Just think if clothes make us more interesting then Posh Spice would be one of the most interesting people on the planet (see it doesn't work).

lemonpie-86

Lol, I never thought of it like that. That's a good idea about accessorising, as all my friend have varying clothes sizes, but I will give it a try.
I think today is going to be a toughie...I have to fork out about 80 quid for a library fine from the university, who think it is acceptable to charge you £5 a day for an overdue book. Seeing as I start back at uni on Monday, I can't really hold off any longer. So, the last of my savings is going on this, after I have paid off my store card. Gah. :eek:
Also, it is really hard to resist the temptation of going out for lunch all the time, or buying snacks particularly whilst I am working in the library which all amounts to a few pounds here and there mounting up. I think this is my ultimate downfall, as it is quite hard to resist going out for lunch somewhere nice. Because I live in the centre of Edinburgh, you can imagine the prices too . So, I am trying to cut down to going out for lunch once a fortnight, and seeing as I am in uni barely three times a week, it should not be too hard. Does anyone else have a problem with this, and if so, how did they overcome the temptation of that last panini?
Plus, I just opened a letter from my store card company and they have sent me my PIN, and so far I have resisted the temptation to find out what it is. In fact, I have just put it in the bin away from my sight. So far, so good.
I do feel a bit trivial moaning away about this, as my debt issue is not half as big as some people's but that's not to say I still don't need help :cool:...
Thanks guys!

misspoppy

Hi

could you not do some more work which will help with your short fall and take up some of the time you spend shopping.

Your finances are manageable if you put your mind to it so i question if you really need the help of CCCS which is for people in debt crisis. Your only debt that requires payment is your store card which is manageable and the point of student overdrafts is that they are usually interest free and are repaid once you start work. I think you should have a long think about whether or not your need to take up an appointment that some one in real crisis could use more than you.

lemonpie-86

Yeah, I have thought about it, but I really need to listen to what they have to say particularly in drawing up a budget for my spending. I guess it's relative, what might not appear to be that serious to one person, is quite different for another. Thanks for your advice anyway.
Well today was a NSD Apart from the money I had to fork out for my library fine, which was actually 20 quid cheaper than I thought :money:I resisted the temptation for a smoothie on the way back, calculating smoothie place was 5 minutes from my own flat where I can get a drink there for free. So now I have 40 quid in my purse, to last me until next Thursday, which I think I can do.
Also, instead of taking the bus to uni, I walked, saving myself two quid and making myself a lot fitter in the process, it being a 3 mile round trip. Also, got to see Arthur's Seat with snow on the top, which was a marvel to behold and would not have been fully appreciated if I was sat in a crowded bus squished against an old woman and a man with B.O. :rotfl:
Hurrah :T....however, fear I am getting slightly too obsessed with this place....:p

Beckyneedstosavecash

lemonpie-86 wrote: »

Hurrah :T....however, fear I am getting slightly too obsessed with this place....:p

Very easily done - it gets addictive but understandably as everyone on here is great and will help you in every way they can to deal with the issues you are having with your debt.

Its really good you've stopped and looked at your debt now rather than in 5 years time when you've graduated and realised you are in a lot more trouble than you could imagine (speaking from experience!!).

Well done for getting it down and best of luck becoming debt free!

Becky

misspoppy

Ok

I'd really like to be constructive as you are budgeting but you seem to need some reasurance that you are doing the right thing. I also want you to really really think about taking that apointment as I really don't think you are in debt crisis.

Your essential out goings are utilities and interest which total £146.70, leaving you £453 to buy food and socialise and maybe reduce your debt.

Realistically you could clear your storecard this month and to avoid tempation you would be wise to cut it up.

I think as a student fun is important and if you cut it out you will just forget your budget, so on your budget you could plan £100 for going out including lunches and £100 on food so £25 on food and fun a week this would leave you with £253 to throw at your debts.

Could you live with this budget? Do you think you are in debt crisis? Please think about it I do understand its scary owing that much as a student but some people can't afford food this month and they really need the help of CCCS this is their busiest time of year when people have over spent on their children at christmas and have no money until the end of January.

Good luck I'm sure you can do it on your own.

Beckyneedstosavecash

tealady wrote: »

Hi. Just a suggestion with the clothes. Could you get all your friends together for a night and get them to bring clothes they no longer wear. Then you could all put a price on them and "pay" each other for clothes eg if you have a pair of jeans at £5 and you want your friends 2 tops at £2 each then you swap clothes and your mate gives you £1.

That's a fab idea tealady - I think i'm going to try that

lemonpie-86

I know, I really wish I could do it, but all my friends are a smaller or bigger size than me, so it would be pretty impossible I guess I could keep an eye open for a car boot nearby. Or indeed, sell it on ebay?