Secrets to achieving Debt Free-ness?

hbslc

I struggle to do everything all of the time. Mainly because there's often so money phone calls, so many letters to write, so many letters to file etc... And I don't live anywhere, mainly different B&Bs 6 nights a week & with my parents or friends for the other!

What's the secret of success?

How do you motivate yourself? A glib question i know coz it's out of neccessity, maybe it should be how do you keep going?

How do you keep track of SARs, CCAs, reclaiming bank charges, etc...

How do you find the time?

ms_london

Hi.

You HAVE to find the time -if you dont, the situation worsens and you dont know if you are coming or you are going.

I remember when my debt was at its worse, I sat there by the phone with a stack of all my bills - about 11 creditors at the time, and one by one phoned them, it was horrible - some were helpful, some werent. But I felt SOOOO much better when it was done, scary knowing the full extent of my debt, (it was more than I thought!) - but that was the first step rather than burying my head in the sand and not knowing the full facts. Not saying that is what you are doing, I was.

It must be harder if you are moving around - why B&Bs can I ask? Is that with work? Or just your living situation?

I now hate not knowing where I stand with my finances, I dont let it get to that - I would rather write a letter or make that phonecall - otherwise things escalate - you find the time for everything else so why not keeping track of your finances?

xx

red74

Maybe you should think of it as "If I spend 2 hours tonight writing letters, then that will ultimately save me £XXX". Then it's a bit like your time is earning you income.

postingalwaysposting

hbslc wrote: »

What's the secret of success?

How do you motivate yourself? A glib question i know coz it's out of neccessity, maybe it should be how do you keep going?

How do you keep track of SARs, CCAs, reclaiming bank charges, etc...

How do you find the time?

There is no true 'secret' to becoming debt free. I think the simple answer is the answer I give to most things in life, the more time/energy you give it the more you will get back/be rewarded. If you look at 'people' in general on this board the ones who become debt free quickly are those who put the time in and can be seen trying to make money in any way they can. No matter what you do though something no matter how small will help you become debt free, even if its only writing one letter per week.

I answer to your questions above for me personally the motivation is seeing my debt go down/my savings grow and knowing you owe no one anything. Nothing can change the feeling of being 'free'. I keep track of everything in one simple box file. Everything goes in there and everything is filed in order. Then i can find everything without searching in 3/4 places. Time is a hard thing, when i was in debt i couldnt afford to do anything so just sat on this website day in day out untill they were payed. Also if your time is of a premium then set aside 2/3 hours per week that you will dedicate to your finacial state. After a month or so you will see a difference.

hbslc

I travel constantly with work. I'm self employed so stay in B&Bs rather than 5* hotels! I decided not to have a house coz during 1st 6 months of 2007 i slept in it for less than 20 nights! Looked at the bills & figured that was an expensive house. So did it up & have rented it out. 1 project completed a few to go.

As i travel i don't carry all paperwork with me all of the time. My filing system in in my office. I'm also crap at writing notes after phone calls. So generally i never know if i'm coming or going. Just an excuse!

Its a catch 22 situation, i need to stay self employed to earn the money to pay for 2 houses, 2 solicitors, and to build my company. 1 house sorted, currently trying to seperate from ex to gain greater custody & sort the other one out. Building my company up so that I can spend more time in one place & enjoy my kids more.

Basically spinning too many plates & less urgent things don't get done. Tends to be whoever shouts the loadest gets my attention. Tactical approach rather than strategic!

2008 will be great!

red74

Sounds like you have a horribly hectic life hbslc! Do you have a laptop? If so, I'd try to keep everything on the computer so you don't have to drag a load of paperwork around with you (although, the same as PAP, I have all my paperwork in a box file and wherever I go, the box file goes too - but I am that sad:o ).