major help

meglan

skintchick i agree. fags gotta go. how did you give up? i did try will power a while ago. did you use nicottine patches?
the sponsership is for someone i know who is a missionary. ppl sponser them a certain amount of money, because they dont get paid for what they do.

fairylights_2

I don't know if it's just me, but you seem to have a MASSIVE gap between your outgoings and your incomings - of more than £1000 pm. Did you miss something, or is that disappearing on things you don't really need? You need to tighten your belt and clear things first. Ditto with the savings. Surely it would make more sense to put that £50 to clear debts before putting it in the bank? You'll save more in interest charges than you'll make if it's in a savings account, I think .... You should be able to cut your food budget down too without a bit of care. You spend more on food a month than we do for a family of four!

At the very least, you could pay your Argos and HMV debts in less than four months if you weren't smoking your money away ... and heaven knows what it does to your voice

Good luck with it, though - and well done for being brave and asking for help!

skintchick

I used the Nicorette inhalator and a LOT of willpower!!

I stopped going to the pub until I was sure I could have a drink without wanting a fag, and told everyone not to let me have one. Luckily most of my mates are non-smokers.

What's the insurance for though?Assume it's to do with your job?

r.mac_2

I read your posting and would like to suggest a couple of things.

1. Use the money you are currently saving to pay off your store/credit cards. The interest you will earn on the savings will be less than the interest you pay on the borrowing.

2. £200 pm for two on food is high. Have a look on the old style boards - it isn't all about cutting back. A lot is about making more sensible choices.

3. If you really can't stop singing lessons, why not cut down slightly - i.e one less class than usual. Alternatively, could you make a bit of spare cash by offering musical lessons to children/beginners/other people?

4. Regarding your store cards and credit cards - if you can apply for a 0% balance transfer card, do this. then shift all the debt onto that card, and concentrate on paying it off within the 0% period. If this isn't possible, BT it all to a low life of balance card (martin's articles explain how to do this in more depth, while detailsing the best offers around at the moment). Then, concentrate on paying off the card with the highest interest first, making sure you make the min payment on your other cards as well of course!

5. Cigarettes - hmm enough said on that one!

6. Mobile - have a look at martins article on battering down the cost of your mobile. Try his tips. If they don't work, switch provider. I've just swaped my mobile to pay as you go and installed a land line. It's much easier to keep track of my spending that way. I have also put a tub beside the phone to remind me to put something in it when I use it (even a token gesture). It stops me yapping for hours.

I hope this offers you a bit of help. It takes time to make changes and some are more painful than others. Stick with it though. Everyone is very supportive on this forum.

PS. you havn't mentioned utilities - are you getting the best deal. Sometimes if you switch you get a small cash-back reward of £10 or so. That could be put towards a storecard and you cut your utilities bills!

Good luck

meglan

nope skintchick. insurance is for my husbands car, which unfortunately he uses for work....

there is a massive gap between outgoings and incoming.
i dont know where im sending my money??? it just seems to run out like water.

fairylights_2

If you're not sure where your money's going, then buy a notepad (ASDA do little ones for 9p!) and WRITE IT DOWN! Every single penny that goes out of your hands. And ONLY pay with cash. That way you're more aware that you're actually spending, rather than handing over plastic and not needing to acknowledge the cost. At the end of every day look over your notepad and see what you spent on and what you didn't need to spend.

It's a pain, but it really helps to focus on what you're wasting that way. You'll see over the course of the week where your bad points are and then learn to avoid them.

meglan

r. mac....good suggestions..

i know its crazy, but i never thought of going back to pay as you go..
and never thought of givinig singing lessons.....cld do that on week ends!!!!

Dumbledore55

There's a thread in the Money Savers Arms to help give up smoking - give that a go. Not only a massive saving in your budget but good for your health and voice.

I agree that you need to write down every penny you spend. Its only when you do it that you can see where you're wasting your money and then the big cuts can begin.

Also keep reviewing things such as insurance, utilities etc. Just because you got a good deal when you signed up doesn't mean its still the best deal. I'm planning to review all my expenses anually.

Good luck with getting rid of your debts.

skintchick

72x12=864!!! On car insurance? That's loads. Can you switch to someone else? I am with morethan and pay £300 for basic insurance not including busines use I grant you, but still. AND I have three points. Shop around cos that seems ridiculously high. Unless your OH is 17???

You need to not only write down what you're spending, but get your bank statements for the last three months and go through them, writing down what you spent under columns headed food, petrol, going out, work expenses, etc so you get a clear idea of where you overspend and what you can cut back on.

I always think I hardly spend anything, but I use my card in pubs/clubs when drunk for rounds I can't afford, and go out to eat. All this has now stopped since my bank statements showed me what I was up to!

It will shock you but at least you'll see where you can save.

meglan

skintchick, is car insurance not like a contract or something? i didnt know u could change it while u still paying for it?