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Introducing myself and my bad money management!
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StupidMare
Posts: 2 Newbie
Hi there
Well some folk never learn or learn the really hard way and I guess that's me. I am currently about 2 thirds of the way through my 2nd protected trust deed (live in Scotland). I had the first back in 1998 when I had logged up about £30K in debts on an administrator's salary. Done partially as a result of a messy divorce where I got completed done over (walked away with £450 due to threatening ex hubby). But also not kidding myself, a lot done by pure greed and mismanagement of my budget.
Second one started in 2006, again had another split and lived way beyond my means and totalled up another £30K of debt.
The biggest chunk of both of these was HP for cars (in each case about £15K). I seem to have a habit of picking OH's who get me to put all the bills and credit in my name for one reason or another. Buy hey-ho I didn't have to agree but I did and that's my own fault.
I've got to be honest and say that despite the trust deed I am struggling, the payments are nearly £300 a month. We have oil fired central heating and to keep this going has cost a fortune over the past winter. I am not long back at work after my 3rd bout of crippling depression. Still incurring the odd bank charge, have tried to get hubby to take over the admin or the household bills but no joy there. It's very frustrating.
However, it's not all bad news. I am starting to sort the error of my ways and adjust my attitude to money. Got an accountant friend to do a cash flow projection for me till the end of 2009 which I monitor on a daily basis. Am just about to take some advice from this forum and sell a whole load of stuff on ebay. I have realised, with therapy, that the reason I spend is as a comfort thing and I have taken measures to try and "re-programme" my thinking. When I spend it's an instant gratification followed by terrible guilt. I sold my big gas guzzling car for a wee runaround to cut costs and am about to start car sharing from Monday to cut back even further.
The thing that always puts me in a position tho is the fact that I still live hand to mouth and have no leeway for emergencies. That's when I end up behind again for bills and incurr charges.
But hey-ho it could be worse, I still dread the phone ringing and hide the mail from OH on occassion but then again proudly display statements and receipts for things I am up to date with as if to say AHA! see I can be trusted!
So that's me in a nutshell, I think of debt like an addiction and although I am recovering I will always have to be careful. It suits me not to get credit and to only have what I have available to spend. A bad credit rating actually does me a favour believe it or not.
Anyway, look forward to sharing experiences with you and supporting wherever I can and in turn having a shoulder to lean on by those who are also going through it.
SMx
Well some folk never learn or learn the really hard way and I guess that's me. I am currently about 2 thirds of the way through my 2nd protected trust deed (live in Scotland). I had the first back in 1998 when I had logged up about £30K in debts on an administrator's salary. Done partially as a result of a messy divorce where I got completed done over (walked away with £450 due to threatening ex hubby). But also not kidding myself, a lot done by pure greed and mismanagement of my budget.
Second one started in 2006, again had another split and lived way beyond my means and totalled up another £30K of debt.
The biggest chunk of both of these was HP for cars (in each case about £15K). I seem to have a habit of picking OH's who get me to put all the bills and credit in my name for one reason or another. Buy hey-ho I didn't have to agree but I did and that's my own fault.
I've got to be honest and say that despite the trust deed I am struggling, the payments are nearly £300 a month. We have oil fired central heating and to keep this going has cost a fortune over the past winter. I am not long back at work after my 3rd bout of crippling depression. Still incurring the odd bank charge, have tried to get hubby to take over the admin or the household bills but no joy there. It's very frustrating.
However, it's not all bad news. I am starting to sort the error of my ways and adjust my attitude to money. Got an accountant friend to do a cash flow projection for me till the end of 2009 which I monitor on a daily basis. Am just about to take some advice from this forum and sell a whole load of stuff on ebay. I have realised, with therapy, that the reason I spend is as a comfort thing and I have taken measures to try and "re-programme" my thinking. When I spend it's an instant gratification followed by terrible guilt. I sold my big gas guzzling car for a wee runaround to cut costs and am about to start car sharing from Monday to cut back even further.
The thing that always puts me in a position tho is the fact that I still live hand to mouth and have no leeway for emergencies. That's when I end up behind again for bills and incurr charges.
But hey-ho it could be worse, I still dread the phone ringing and hide the mail from OH on occassion but then again proudly display statements and receipts for things I am up to date with as if to say AHA! see I can be trusted!
So that's me in a nutshell, I think of debt like an addiction and although I am recovering I will always have to be careful. It suits me not to get credit and to only have what I have available to spend. A bad credit rating actually does me a favour believe it or not.
Anyway, look forward to sharing experiences with you and supporting wherever I can and in turn having a shoulder to lean on by those who are also going through it.
SMx
0
Comments
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Good luck with clearing your debt and well done for getting help with the problem0
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Welcome to the board.MF aim 10th December 2020 :j:eek:MFW 2012 no86 OP 0/2000
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Welcome to the boards and well done on so much postive action!
It sounds like you are very organised so best wishes on your debt free journey, I hope you continue sticking around to keep the motivation high!Debt Free - done
Mortgage Free - done
Building up the pension pot0 -
Can anyone give me a template to send to creditors am currentlystarting a dmp. Kind Regards x0
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