OK, here goes.....long post coming up

lil_monkey

Just wanted to send you a hug and say well done for posting I had my LB moment in Jan 08 and I feel loads better because I can see the light at the end of tunnel and I know it won't be forever. My BF & Family don't know a thing about my debts and too by honest thats the way I want it to stay just can't cope with them thinking bad off me. Anyway Just wanted to wish you loads of luck and if it gets tough and those new shoes start calling... be strong cause you want to make things better and be debt free:D x x x x

consultant31

I am in the fortunate position of not being in debt, but I have always had to be careful with my spending. One thing I have always done is overstock the pantry (and the fridge too sometimes).

I have found it quite liberating to have perhaps one week every couple of months where I don't go shopping at all (except for fresh milk, fruit, veg etc) and use up all the stuff in the cupboards. We have some weird and wonderful meals sometimes but it means one week's housekeeping is saved and can go towards something more pressing.

Miia

I can and do cook but I now realise I have been buying premium. There were too many take aways so they have been cut down in the last month by an order of magnitude. If they happen then OH will have to get them if he wants them. I am good at making things and freezing them in portions so will need to get back to meal planning.


I'll be going over to the OldStylers board before shopping.

I'd like to thank everyone who has replied with some wonderful help and tips and support. I know this won't be easy and it will be tough.

hbl_2

Miia wrote: »

I know this won't be easy and it will be tough.

Like exercise it's only difficult in the beginning! You've got to make a plan and stick to it, but at the same time it has to be flexible so you don't quit it the second you stray from it. It's just a case of getting over that first hump, then you'll find you've got some fitness, some momentum, and it's not as hard as it first seemed!

I managed to pay off £15,000 in 18 months, and I started off modestly, and then as I went realised that I could spend less and pay back more. My original plan was £15,000 in 2.5 years, but my early gains spurred me to just tighten everything in and it brought that end date in by a whole year. All I have left now is my student loan, so my next goal is to earn more in savings than I'm charged in interest, and the goal after that will be to reach zero and the goal after that is to invest a lump sum as a real asset.

Also I would say that your car is not strictly an asset. It doesn't make you any money, depreciates with time and costs money to run and maintain. Sounds like a liability to me!

swampduck

More out of interest than anything but - how much is your OH paying for the mortgage?
He could be paying the mortgage which maybe less than your paying of all other bills. If it's more - feel free to ignore me!! If it's less than he needs to contribute to what your paying!!

Swampy

Miia

hbl - that is a really encouraging post and congratulations.

swampduck - I don't know what the mortgage payments are but I will find out. We had a conversation last night about cash in general (not my stuff) and he said that he thought I had been paying too much out as his balance was healthy and he said he was going to give me a cheque......which of course will help.

poppyg_2

Miia welcome to the boards and for posting a great first step

Has you checked to see if you have the best deal regarding gas and electric as those bills seem fairly high to me?

Miia

Poppyg - yes, I changed them over a couple of days ago and have based on the the kilowatts will save £400/year. Just waiting for it all to happen now.

hypno06

hi, have you put your numbers into the snowball calculator at www.whatsthecost.com

It will give you an initial debt free date to work to, and you can play around with it to see how much you need to pay each month to bring this forward.

I find it an excellent motivator!

Good luck!

klane

Re the TV and phone etc - you don't have to tell your other half why exactly, but what about switching your TV package to a cheaper deal? eg: OH and I have VirginMmedia 3 for £30 package, which includes broadband, land line (not calls), and TV - they do all sorts of deals, and so do Sky. Shop around. If you find something better you can just tell him that you took on board what he said before and it seems stupid to throw money away when you don't need to etc. Then he can be proud of your "savvyness".