I would just like to say...

Undercovercarrot

...thanks. Yeah, I know it is corny and all that, but this site really has been a life-changing experience for me. I was rubbish with money up until about a few months ago. You know, usual story, spending up to the max on cards, getting loans and generally into more and more debt. I ended up owing about £14k.

So since then I have got a financial plan together. When I get paid, I set out what outgoings I have every month, and as a result what "pocket money" I have for other stuff. I am not out of debt, but I am making definite progress and calculate I should be debt free by this time next year AT THE LATEST. I cannot say what a great feeling this is! There are certain pieces of advice that you keep getting given, but these are the TOP 10 PIECES OF ADVICE that have helped me.

1: Admit your problem: If you realise you are in an untenable situation, then you can start doing something about it. If you pull the sheets over your head, the money monster will NOT go away.

2: Be ruthless: Note down EVERY expenditure you make. Every little thing. Then cut it down!

3: Make sure you pay the bills and credit cards straightaway. Do it by standing order/direct debit. Not only does this mean it is dealt with every month, but often companies give a discount or a bonus if you do. If you do not pay, then you amount interest, lose your credit rating and get nasty people knocking at your door.

4: Go to https://www.uswitch.co.uk and make sure you are paying as little as possible for utilities.

5: 0% cards are a good SHORT TERM interest fix, but make sure you pay them off on time or you get pain. ALWAYS pay off high APR debts first.


6: Before EVERY purchase, ask "Do I need this? Can I afford this? Can I get it/something that is similar cheaper elsewhere."

7: Get your credit rating from Experien etc. Find out what the root causes of your problems are, and dispute everything that is inaccurate, Go to CAB for advice.

8: Treat yourself: money saving is not about living like you are out of a Dickensian workhouse. If you have done well in a particular week, do not feel too guilty about buying a nice bottle of wine or something else. Just make sure you can afford it.

9:ASK ON HERE! There is always someone who can help, who most probably has been in that situation before. There is no such thing as a stupid question.

10: Finally, KEEP SMILING! Don't get depressed by stuff. If you want to, you will get out of debt, however long it takes. Trust me, there is no better feeliing than knowing you are getting debt free (that involves keeping your clothes on, that is!)

ceegee

That's great news....and it's nice to start the week on a positive note! :T :beer:

elona

Well done and I really like your advice:T

Not only would it help get you out of debt but also stop you get into trouble in the first place- barring accident ,illness and other misfortune.

Bargainloverbec

Undercovercarrot - I would echo your sentiments wholeheartedly and well done on getting your plan together.

After years of 'trying' not to spend I finally have the focus I need to clear off the last few debts and start achieving what I want to do with my money rather than constantly wondering if I'll ever be able to afford it.

Short term pain (watching the pennies, staying in sometimes, not buying everything that takes my fancy!) will definitely be my long term gain.