What's the single best tip you can give for all those in debt ?

immoral_angeluk · 9 March 2007 at 4:20PM

Don't be too harsh on yourself and expect massive results straight away. Be proud of any progress you make even if it's as simple as cutting up a card.

chevalier · 9 March 2007 at 4:30PM

1) you are a human not an ostrich:D So don't bury your head in the sand. The debts are not going to go away
2) If they charge then say NO.......to debt management companies
3) If you need something check https://www.freecycle.org first rather than reaching for the credit card!

cheers
chev

moonrakerz · 9 March 2007 at 5:28PM

1. Destroy all your credit cards - NOW !
2. Don't buy anything unless you can pay cash up front.
3. Don't consolidate your existing debts.
4. Accept that you can't have everything you want now.

Skint_Catt · 9 March 2007 at 5:30PM

:T SPENDING DIARY :T

(She says - not having done hers for a month! :eek:)

Catt xx

bank_of_slate · 9 March 2007 at 5:32PM

Chop up the cards! (See my pic<

)

I opened a second basic account and put a set amount in there every month. There is no overdraft and it works for me!
My main account pays all the bills and is paying off the card.
...Linda xx

Nelle_2 · 9 March 2007 at 5:35PM

dubgirl wrote: »

for me it was talking to someone and unburdening myself - for a long time no one knew about my debt. My OH was the first person I told and it was such a relief getting it out in the open. It sounds a bit cheesy but it was a liberating moment for me.

that is so true, dubgirl. I spent several years hiding credit card bills and trying to cope alone. When I confessed to my OH and he stood by me, I felt a sense of relief and something else that I couldn't quite explain. You have just hit the nail on the head "LIBERATING". To know that you have the support of someone and can move forward instead of being stuck with nowhere to turn is marvellous. I will take on all my credit card companies now that I know I am not alone.

:beer:

lessonlearned · 9 March 2007 at 5:42PM

Great thread.

I agree with all of the above posts. I've also found that the easiest way to stop feeling overwhelmed by it all is not to dwell on how long it will take to clear my debts - that would be just too depressing. We're talking massive debt here and a very long timescale to clear it all.

So for me I just work out my budget, clear as much as I can each month and then forget about it and get on with living - dfw style of course!!!

For me the big thing was changing the way I look at spending - I no longer fritter money away on "stuff" and "bargains" and I honestly don't miss the shopping sprees. I now treat extreme budgeting as a game and a personal challenge - how low can I go?

Big tip - if you can't bear to admit to everyone that you are in deep financial doo-doo tell them you are living simply for environmental reasons because you want to do your bit for the planet!!:cool:

Good luck everyone.

MUSTBEFUNNY_2 · 9 March 2007 at 5:49PM

1) Spendng Diary/ spreadsheet
2) ONLINE Banking
3) Meal Planning

:money:

Bambywamby · 9 March 2007 at 5:57PM

My tips would be....

Money diary - makes you loathed to spend money when you have to see it as a constant reminder in print.

Check this site daily for up to date information and inspiration.

Stop being shy/lazy about your cash and get wise.
If you get short changed in a shop speak up, If you feel as though your purchase is faulty/damaged/doesnt work, dont just bin it because you cant be bothered, take it back or if your not happy with a service complain.

Never consolidate debts as you will end up paying more.

Start enjoying saving and being careful with your cash, it will eventually become as much fun as spending.

Cut up them credit cards and chuck them away. use debit cards only.

Meal plan, use household cleaning products sparingly, cut down on the toiletries (they is no need to have 6 different shower gels with 6 different fragrances) and shop with a list.

Cut back on unecessary spending like Sky/Take aways/Boozy nights out etc

Bambywamby · 9 March 2007 at 5:58PM

OH - you said ONE single tip.

Theres soooooooooo many good ones, I couldnt help but gush a few out

What's the single best tip you can give for all those in debt ?

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