21 and in a mess! please help

wydsiwyrg

Hi there Andrew.
If you can you need to sell your car and buy a cheaper, but reliable one. I just bought a Volvo 340 for 250 quid. It's great!

Your rent isn't too bad, but if your parents are near, that should bring you some money back in.

Are you going out a lot? Where is the disparity in earnings and outgoings coming from?

GEE_3

hsbc do a money managed loan for when you are in a truble,its a bit higher on the interest,but thay tie all your loans cards and overdraft for you into one manageable loan.see your bank first before taking any advice,

sallyx

Andrew
Hope things are looking a bit better now you have got things down. I would definately look at getting rid of the car, even if its only for the short term. I was in a similar situ to you and getting rid of the car which cost a fortune was the best thing we ever did. We managed to walk, cycle or use public transport from June last year until about 3 weeks ago when we bought a run around for £700. There are possibilities for you to cut your outgoings like others have suggested.

biglad

just wanted to add my two pence worth

im now 24 but at 21 seems like we were both at the same stage. living beyond means and a car to make us look good that really is only putting us under pressure finacially

in the end i had to get rid of my car and was gutting but never looked back now.

i know its easy to say and will be hard to start with but you need to get rid of your car, as previously said, £60 petrol is not a lot nowadays so do you really need the car, and also when u get rid of sky you will realise how little you actually watched all the stuff

hooty2001uk

Hey again peeps,, Thanks so much for the great advice...

I need my Car for my job as have to get there and travel to different properties ( I am a deputy manager of a care home so have to do shifts and 24hour on call duties so its a essential)...

Its an 2004 Fiat Punto 1.2 - so nowt fancy!!!

As for the Insurance, I am fully comp and only my last car an R reg fiesta I was paying £97 a month 3rd party...So it "seems" way cheaper..

x

ciarasdreams

I know that getting used to budgeting and cut backs can be hard and seem really unfair but the advice and support that you receive from the people here is the best and before you know it everything will seem to slot into place and make sense and it will seem like second nature to budget and live within your means.

hooty2001uk

Yes definateley agree thanks!!!

I just feel like I want to get a loan to consolidate it all, I cant afford anything at all and have got behind with loads of payments...

Spoke with HSBC today and they can maybe do a managed loan for my overdraft and personal loan with them, but got refused for a higher personal loan!

This is horrible...I want to go to University in September there is just no chance of that now

x

ciarasdreams

From what I have read on other threads managed loans are really not the way ahead and from personal experience I can definitely tell you that consolidation is not the best idea either but with a little careful planning and cost cutting you will catch up in no time at all and be in a much stronger position. Have you looked into ebaying and amazoning or even car boot sales to make up the deficit in the short term? I tried this and found it to be surprisingly profitable but well worth all the hard work.

hooty2001uk

Hey again peeps... I been real busy since tea time looking for thing i can possibly sell either on ebay or carboot and have absolutley nothing other than my laptop or digital camera!! And i really dont want to part with either... x

racer256

Hi Andrew, First of all big hugs. I won't get you any financial advice. The only advice I would give is to have a goal like you said earlier you want to go to uni- good on you! Get out of debt first. Think of anyway you can make more money and go for it. You can do it there is no reason why you can't. I am debt free and when I was in debt I had one goal and it kept me going. I was more driven with a goal. Big Hugs.