that sinking feeling....

rosa66_2

Hi there all, I'm new on here and although my problems don't seem too bad (I'm not going lose my flat or anything) its really getting me down. I look at my online bank statement regularly and get that sinking feeling....Hope I don't seem like a drama queen...

I seem to be getting bogged down with my debt. I'm in my late twenties and I seem to be worse off despite earning a half decent wage.
I'm getting more in debt as I get older, not more secure and its starting to get very worrying as the credit card bills land on the doormat. Here's my debt as it stands: I know not as bad as it could be, yet it's making life quite difficult

£7, 500 loan
£5,000 in credit cards
£1,000 overdraft

I have managed to get myself in such a mess especially with the credit cards. I don't spend loads on clothes or anything but have been on a big holiday recently which I couldn't really afford and it has tipped me over the edge. I have no money to live on now until I get paid. I really have to learn to say no to things. Half of the problem is is that I feel ashamed to admit that I have money problems. My dad says he is proud of me for being so independent but has no idea I'm in a mess financially.

Each month I also seem to be getting hit with bank charges. I've reclaimed them once before but seemingly haven't learned and have hitched up probably hundreds more pounds over the last year and a half.

My boyfriend earns a very good wage, has never had any financial problems and savings in the bank. He is very good to me and pays for most outings, trips etc but doesn't understand when I tell him I can't afford to go on holiday. He has also offered to pay off some of my debt which I couldn't let him do. It's my debt and therefore my problem. I'm really worried he will start resenting me eventually.

Anyway sorry if this sounds like "poor me" but I'm trying to take control before things spiral and it gets any worse

Advice anyone?

Rosa

shopaholic2008

well your in the right place there are so many people that will be able to help. Why not post a SOA (statement of affairs) to show all your incomings and outgoings there will be plenty of help on its way

peb

Welcome - and it's good that you realise you are in trouble before it gets any worse. Let us have sight of your SoA (Statement of Accounts - see the initial sticky) so we can see where the money is going and if anything can be cut down. Also have a look at the up your income board (use the Forum Jump at the bottom of the page).

and keep posting

Donedoingdebt

rosa66 wrote: »

My boyfriend earns a very good wage, has never had any financial problems and savings in the bank. He is very good to me and pays for most outings, trips etc but doesn't understand when I tell him I can't afford to go on holiday. He has also offered to pay off some of my debt which I couldn't let him do. It's my debt and therefore my problem. I'm really worried he will start resenting me eventually.



Rosa

I know this is not exactly money saving. But if your boyfriend really wants to go on holiday with you & is prepared to help you with your debt, why don't you suggest perhaps he could pay for this holiday, leaving you with your cash saved to throw at your debts. Perhaps you could suggest that you'll return the gesture in future when you're debt free.
I know the real strict DFWs would probably say "No holiday". However, in my opinion, you need some nice things to help you along with debt repayment otherwise it can become unbearable.