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  • FIRST POST
    • camz2017
    • By camz2017 3rd Feb 18, 11:35 PM
    • 347Posts
    • 594Thanks
    camz2017
    What helps you get out of debt?
    • #1
    • 3rd Feb 18, 11:35 PM
    What helps you get out of debt? 3rd Feb 18 at 11:35 PM
    Quick question - I have been doing a bit of reading around, but what things do you guys think helped you the most get out of debt? Is it surveys, coupons, refinancing etc?

    Check out my diary if you want, it's really me being way too honest about my life, often in ways I don't even like myself. Prob more a life blog than my debt diary:
    http://forums.moneysavingexpert.com/showthread.php?t=5732123

    Hoping to get some habits of my own going! All help appreciated.
Page 1
    • Catsacor
    • By Catsacor 4th Feb 18, 6:42 AM
    • 44 Posts
    • 41 Thanks
    Catsacor
    • #2
    • 4th Feb 18, 6:42 AM
    • #2
    • 4th Feb 18, 6:42 AM
    What do i think the way is ?
    Don't spend more than i earn.
    • enjoyyourshoes
    • By enjoyyourshoes 4th Feb 18, 9:32 AM
    • 1,061 Posts
    • 1,302 Thanks
    enjoyyourshoes
    • #3
    • 4th Feb 18, 9:32 AM
    • #3
    • 4th Feb 18, 9:32 AM
    Compelling life goal
    Debt is a symptom, solve the problem.
    • The_Analyst
    • By The_Analyst 4th Feb 18, 9:48 AM
    • 47 Posts
    • 40 Thanks
    The_Analyst
    • #4
    • 4th Feb 18, 9:48 AM
    • #4
    • 4th Feb 18, 9:48 AM
    Quick question - I have been doing a bit of reading around, but what things do you guys think helped you the most get out of debt? Is it surveys, coupons, refinancing etc?

    Check out my diary if you want, it's really me being way too honest about my life, often in ways I don't even like myself. Prob more a life blog than my debt diary:
    http://forums.moneysavingexpert.com/showthread.php?t=5732123

    Hoping to get some habits of my own going! All help appreciated.
    Originally posted by camz2017
    Budget - Work out your earnings, your expenditure and your owings. The start of the recovery for us was when I did exactly that. Yes, the DMP helped in terms of taking the heat off, but it wasn't until I exited the DMP and set up direct payments that I saw the debit reduce. 11 months from now we will be debt-free but that process only started when I set everything out in a spreadsheet to understand my true position
    July 2011 - Total Debts 47,359.19
    July 2013 - Total Debts 36,092.19
    July 2015 - Total Debts 28,068.19
    July 2017 - Total Debts 15,806.26

    Jun 2018 - Total Debts 6,215.84
    Jan 2019 - Total Debts 0
    • enthusiasticsaver
    • By enthusiasticsaver 4th Feb 18, 11:37 AM
    • 6,607 Posts
    • 13,897 Thanks
    enthusiasticsaver
    • #5
    • 4th Feb 18, 11:37 AM
    • #5
    • 4th Feb 18, 11:37 AM
    Budgeting, saving and dont overspend. Refinancing wont help. Surveys and coupons might but are time consuming.
    Debt free and mortgage free and early retiree. Living the dream

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages and Endowments, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • datlex
    • By datlex 4th Feb 18, 12:45 PM
    • 1,656 Posts
    • 1,551 Thanks
    datlex
    • #6
    • 4th Feb 18, 12:45 PM
    • #6
    • 4th Feb 18, 12:45 PM
    budgeting, keeping bills and spendable money separate. Only spending available money even if it means eating spaghetti on toast for a couple of days.
    • Lonire
    • By Lonire 4th Feb 18, 12:49 PM
    • 55 Posts
    • 123 Thanks
    Lonire
    • #7
    • 4th Feb 18, 12:49 PM
    • #7
    • 4th Feb 18, 12:49 PM
    budgeting has been working for me, lots of NSD's and hunting for discount/vouchers when you do need to spend. Homemade lunches and coffees in work. Resist the urge to spend by having all the food you need with you.
    • Sharon87
    • By Sharon87 4th Feb 18, 1:54 PM
    • 3,538 Posts
    • 3,014 Thanks
    Sharon87
    • #8
    • 4th Feb 18, 1:54 PM
    • #8
    • 4th Feb 18, 1:54 PM
    Budgeting as well! I use YNAB and last year whilst my debt didn't go down, it didn't go up for the first year in ages. This year is now the year my debt will go down, by actually sticking to my budget.

    Also earning extra money by doing extra work and using Quidco
    • camz2017
    • By camz2017 4th Feb 18, 7:23 PM
    • 347 Posts
    • 594 Thanks
    camz2017
    • #9
    • 4th Feb 18, 7:23 PM
    • #9
    • 4th Feb 18, 7:23 PM
    This has made me feel good thanks guys, I already use YNAB and have done religiously since September when I had my LBM. It gives me way too much pleasure seeing my YNAB numbers reflect exactly my bank accounts and every penny being given a job somewhere.

    I have taken the route of budget for everything and bide the time. I have not spent too much time on these surveys etc as people often discuss which was my underlying question I guess, e.g. how much value vs time am I getting from that and my gut seems to be right, ie time consuming not a tonne of value.

    I love the idea of having all the food you need with you - something I am real bad at. So my goal is to try and always have food ready and prepared

    It'll take me a while to get debt free but I will get there!!
    • SamSam17
    • By SamSam17 5th Feb 18, 2:08 PM
    • 67 Posts
    • 146 Thanks
    SamSam17
    Budgeting & joining quite few of the debt free challenges here. Updating my spreadsheet & posting my progress here helps a lot.
    • sourcrates
    • By sourcrates 5th Feb 18, 3:57 PM
    • 14,342 Posts
    • 13,536 Thanks
    sourcrates
    What helps you get out of debt ?

    Individual voluntary arrangement.
    I'm a Board Guide on the Debt-Free Wannabe, Credit File And Ratings, and
    Bankruptcy And Living With It, boards. "I volunteer to help get your forum questions answered and keep the forum running smoothly".
    Board guides are not moderators and don't read every post. If you spot an abusive or illegal post then please report it to forumteam@moneysavingexpert.com. Any views are mine and not the official line of MoneySavingExpert.com.

    For free debt advice, contact either : Stepchange, National Debtline, or, CAB.
    For Free Legal advice see : http://legalbeagles.info/
    • louby40
    • By louby40 6th Feb 18, 9:55 PM
    • 1,363 Posts
    • 3,695 Thanks
    louby40
    Budgeting. Not buying things. Having something to aim for.
    • fatrab
    • By fatrab 7th Feb 18, 7:00 AM
    • 852 Posts
    • 2,236 Thanks
    fatrab
    Budgeting and thinking ahead I would say are the things that have saved me the most money recently. Meal planning especially. Stop eating out and snacking, it costs a fortune!

    Make sure you're on the best deal for everything, do a thorough money makeover at least once every 6 months or better still - monthly (if you have time), and always pay off the debt with the highest interest rate first.

    Do an SOA and get a clear picture of where you stand. Snowball your debt repayment.

    Keep a spending diary and also create and update a DFW diary, anything that holds you to account will make you stop and think about every penny you spend.

    Have a goal, a motto, or a plan. Something to aim for.
    You can have results or excuses, but not both - Wannabe debt free by Dec 2022
    June's targets - Be 15st by end of month, 19/30 AFDs
    39 x 2 coins (#32)
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