How to get in debt, in simple steps (Was I this dumb?)

payingfornowt

I have recently joined this forum… I have been writing SOA’s and keeping a spending diary, anyway here is my story in short stages.

1. I can go on holiday, and only pay £50 per month for the next year, get me my shorts and sun cream!

2. I will use this credit card for Christmas shopping, its really good because I can pay it back in large chunks.

3. Well minimum payments will eventually get me there, and it’s not much.

4. Im not paying both a loan and a credit card, Ill consolidate it.

5. I can use my credit card again yippee, I won’t be silly this time, pay it off in full every month.

6. Oh gosh Mr HSBC my card is maxed out and you want to up my credit limit? Of course that really helps, I don’t like being skint.

7. This is way too expensive, I am going to get a consolidation loan at a good interest rate… Might as well tag on the cost of a new car, I cant be seen in an old one.

8. What Mr HSBC you need a payment now? I don’t get paid for 2 weeks, well ok if youre sure a small 2k loan will help…….

9. Eh? Where have my wages gone?

suzialwaysbroke

Frighteningly easy isn't it? I think this probably has applied to most of us (OK, me) somewhere down the line. When you read it down you realise how stupid & how ignorant you (me) can be. Long live MSE website to help us all!!!!

Cleosmum

Im at no 5 with my Asda card, half of me wants to pay it off and then use it for the food shopping each month, the limit is the same as the food budget and I could pay it off each month, but the other half of me is chanting "CUT IT UP, CUT IT UP". Im leaning toward cutting, just havent....managed...to....yet

Ive never done 1 or 2 but the rest of list is me, and its scary.

kizzykizzywizzy

Cleosmum wrote: »

Im at no 5 with my Asda card, half of me wants to pay it off and then use it for the food shopping each month, the limit is the same as the food budget and I could pay it off each month, but the other half of me is chanting "CUT IT UP, CUT IT UP". Im leaning toward cutting, just havent....managed...to....yet


Listen to the "CUT IT UP" HALF OF YOU

We've all ( or most of us ) done some of the things you have, so don't feel too bad, just learn by it & DON'T DO IT AGAIN:p

payingfornowt

Cleosmum wrote: »

Im at no 5 with my Asda card, half of me wants to pay it off and then use it for the food shopping each month, the limit is the same as the food budget and I could pay it off each month, but the other half of me is chanting "CUT IT UP, CUT IT UP". Im leaning toward cutting, just havent....managed...to....yet

Ive never done 1 or 2 but the rest of list is me, and its scary.

CUT IT UP THEN YELL SHOW ME THE MONEY! COME ON IT WILL BE FUN.

Cleosmum

:dance: SHOW ME THE MONEY!!!!!!!!!!

Ok, its in 2 pieces, tonight I shall dance on its grave mwahahahahaha........

deliciosa

payingfornowt wrote: »

I have recently joined this forum… I have been writing SOA’s and keeping a spending diary, anyway here is my story in short stages.

1. I can go on holiday, and only pay £50 per month for the next year, get me my shorts and sun cream!

2. I will use this credit card for Christmas shopping, its really good because I can pay it back in large chunks.

3. Well minimum payments will eventually get me there, and it’s not much.

4. Im not paying both a loan and a credit card, Ill consolidate it.

5. I can use my credit card again yippee, I won’t be silly this time, pay it off in full every month.

6. Oh gosh Mr HSBC my card is maxed out and you want to up my credit limit? Of course that really helps, I don’t like being skint.

7. This is way too expensive, I am going to get a consolidation loan at a good interest rate… Might as well tag on the cost of a new car, I cant be seen in an old one.

8. What Mr HSBC you need a payment now? I don’t get paid for 2 weeks, well ok if youre sure a small 2k loan will help…….

9. Eh? Where have my wages gone?

10.) When paying the minimum payment it's not even really paying, because let's say I pay £56 minimum payment, it clears in 3 days and then I can use the card again and spend the £56 on it again - aren't credit cards just the best, you pay them, but you don't really pay them as you can spend it again, and again....

11.) I applied for a £2000 loan and Mr Hsbc think I am very trustworthy and my salary is good anf my history is good, so they are happy to offer me £3000 instead - aren't they lovely? Just the kind of treatment I would expect from my bank, of course I'll take the £3000..... oh it's a bit more on the APR front, but what's the difference between 9% and 14% eh? just 6 tiny per cent, that doesn't make the slightest difference really...

Fur156

Hi Payingfornowt and all.

Well I have just read your post and if you had changed HSBC for Lloydstsb, I could have sworn that you were reading a book about my life.....

Yes we were that dumb, but at least we are all here trying to make things better for our future.