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  • FIRST POST
    • richardvc
    • By richardvc 9th Mar 07, 2:34 PM
    • 1,098Posts
    • 1,454Thanks
    richardvc
    What's the single best tip you can give for all those in debt ?
    • #1
    • 9th Mar 07, 2:34 PM
    What's the single best tip you can give for all those in debt ? 9th Mar 07 at 2:34 PM
    I hope that I am a true DFW but want to glean some valuable tips that I might have missed and perhaps we could all learn something -

    For me, doing my SOA was frightening and yet life changing in my battle against debt.

    So my tip is to sit down and work out your SOA it may not be good but it is the real facts.

    Now over to you experts..........

    Last edited by Former MSE Natasha; 13-03-2007 at 1:33 PM.
    Thanks to MSE I cleared 37k of debt in five years. I was lucky enough to meet Martin and thank him personally
Page 1
  • dubgirl
    • #2
    • 9th Mar 07, 2:37 PM
    • #2
    • 9th Mar 07, 2:37 PM
    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.
    debt as at 1.11.2008 - 39,009.27
    dfd - somewhere over the rainbow!
    Nerd no. 262 - wear your number with pride
    Long Hauler 113
  • Mozette
    • #3
    • 9th Mar 07, 2:45 PM
    • #3
    • 9th Mar 07, 2:45 PM
    Be honest... with yourself and others.
  • teecee152
    • #4
    • 9th Mar 07, 2:50 PM
    • #4
    • 9th Mar 07, 2:50 PM
    A spending diary!!
    I couldn't believe how much money i wasted on "stuff"
    DEBTS @ 1/1/07 - 25,800 DEBT @ 04/05/11 - NIL
    FINALLY DEBT FREE - 4TH MAY 2011
    "PROUD TO HAVE DEALT WITH MY DEBTS"
    Official DMP mutal support club member no 2 *DFW NERD 351*
    • Storm
    • By Storm 9th Mar 07, 2:52 PM
    • 1,747 Posts
    • 1,402 Thanks
    Storm
    • #5
    • 9th Mar 07, 2:52 PM
    • #5
    • 9th Mar 07, 2:52 PM
    Only pay in cash - it's a lot harder to hand over those £20 notes than it is to use the debit or credit card for £20!
    Total Debt 13th Sept 2006 (exc student loan): 6240.06
    O/D 1 1250 O/D 2 100 Next a/c 313.55@ 26.49% Mum 130 HSBC 4446.51@15.75%M&S 580.15@ 4.9%
    Total Debt 30th April 2008: 0 100% paid off!

    PROUD TO BE DEALING HAVE DEALT WITH MY DEBT
    • atypicalblonde
    • By atypicalblonde 9th Mar 07, 2:53 PM
    • 2,977 Posts
    • 21,467 Thanks
    atypicalblonde
    • #6
    • 9th Mar 07, 2:53 PM
    • #6
    • 9th Mar 07, 2:53 PM
    A spending diary!!
    I couldn't believe how much money i wasted on "stuff"
    Originally posted by teecee152
    Second that!! Also, I found at first that I was trying so hard to give it my all that I got really down-hearted and started to feel guilty if I indulged at all. Now I have a set few 'treats' that I havent given up on despite being a debt (namely nice coffee and loo roll!) and I appreciate these so much more. xx
    • atypicalblonde
    • By atypicalblonde 9th Mar 07, 2:54 PM
    • 2,977 Posts
    • 21,467 Thanks
    atypicalblonde
    • #7
    • 9th Mar 07, 2:54 PM
    • #7
    • 9th Mar 07, 2:54 PM
    And also, MEAL PLANNING. It has saved me a fortune. xx
    • richardvc
    • By richardvc 9th Mar 07, 2:55 PM
    • 1,098 Posts
    • 1,454 Thanks
    richardvc
    • #8
    • 9th Mar 07, 2:55 PM
    • #8
    • 9th Mar 07, 2:55 PM
    The posts so far are brilliant - we should write a book.....oh no Martin's done that already !!
    Thanks to MSE I cleared 37k of debt in five years. I was lucky enough to meet Martin and thank him personally
    • bobble_hat
    • By bobble_hat 9th Mar 07, 2:58 PM
    • 689 Posts
    • 1,806 Thanks
    bobble_hat
    • #9
    • 9th Mar 07, 2:58 PM
    • #9
    • 9th Mar 07, 2:58 PM
    I agree with everyone mentioned above.

    Personally for me is having seperate Bank accounts for specific budget categories:

    e.g.
    1. Household Bills
    2. Christmas
    3. Treats
    4. Weekly pocket allowance
    5. Holiday
    "Tomorrow is always fresh, with no mistakes in it." (Montgomery, L.M.(1908). Anne of Green Gables.)
    Debt Free Nerd No. 186 Debt was 16,534.03 Now 9,588.50
    • fay66
    • By fay66 9th Mar 07, 2:58 PM
    • 738 Posts
    • 2,077 Thanks
    fay66
    All of it, and to know your not the only one to make a mess of your life !
  • GirlRacer
    It's got to be the motivation I get off you guys. I'm a closet debtor, nobody knows except you guys and whenever I'm feeling down or about to fall off the wagon all I've got to do is log-on. There's always someone there to offer me sympathy or a good kick up the a***.
    • immoral_angeluk
    • By immoral_angeluk 9th Mar 07, 3:20 PM
    • 23,754 Posts
    • 22,635 Thanks
    immoral_angeluk
    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.
    Total 'Failed Business' Debt 29,043
    Que sera, sera. <3
    • chevalier
    • By chevalier 9th Mar 07, 3:30 PM
    • 7,761 Posts
    • 18,056 Thanks
    chevalier
    1) you are a human not an ostrich 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 www.freecycle.org first rather than reaching for the credit card!

    cheers
    chev
    I want a job that is less than an hour driving away from my house! Are you listening universe?
  • moonrakerz
    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
    • By Skint_Catt 9th Mar 07, 4:30 PM
    • 11,431 Posts
    • 23,689 Thanks
    Skint_Catt
    SPENDING DIARY

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

    Catt xx
  • bank_of_slate
    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
    It's easy to give in to that negative voice that chants "cant do it" BUT we lift each other up.
    We dont count all the runners ahead of us & feel intimidated.
    Instead we look back proudly at our journey, our personal struggle & determination & remember that there are those that never even attempt to reach the starting line.
  • Nelle
    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.
    Originally posted by dubgirl
    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.

    So happy that I found you
    • lessonlearned
    • By lessonlearned 9th Mar 07, 4:42 PM
    • 10,688 Posts
    • 68,468 Thanks
    lessonlearned
    changing your mindset
    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!!

    Good luck everyone.
  • MUSTBEFUNNY
    1) Spendng Diary/ spreadsheet
    2) ONLINE Banking
    3) Meal Planning


  • Bambywamby
    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
    Last edited by Bambywamby; 14-03-2007 at 2:57 PM.
    *Frugal Living 2015* *Not Buying It 2015*
    "Twenty years from now you will be more disappointed by the things you didn't do than the ones you did do. So throw off the bowlines. Sail away from safe harbour. Catch the trade winds in your sails. Explore. Dream. Discover." ~ MARK TWAIN

    27/50
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