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  • FIRST POST
    • wibblewibblewibble
    • By wibblewibblewibble 3rd Nov 18, 7:48 PM
    • 16Posts
    • 20Thanks
    wibblewibblewibble
    I want to break free
    • #1
    • 3rd Nov 18, 7:48 PM
    I want to break free 3rd Nov 18 at 7:48 PM
    Hello, Iím feeling positive to have found this site with so many people in the same position. My debts total is £7115. This has been mostly been built up over the last 12 months, through 3 months unemployment and a breakup at the same time.

    Last year I left my job due to a change in working hours, I couldnít balance childcare with working until 22:00. Due to me leaving my job I couldnít claim Universal credit for 3 months so I lived from my credit cards. Unfortunately at this time my then 17 year old son lost his apprenticeship. As he was 17, he was unable to claim any benefits, and I didnít get any benefits for him. So he also lived from my credit cards. I also have a 4 year old son who was in private nursery at the time. To leave nursery, they required 1 months full notice, given on the first of the month. As I had just missed the cut off date, I was liable for nearly 2 months of fees. I did manage to get some money back after 3 months, but it mostly just covered my rent and some fees. Luckily both myself and my son managed to find new jobs after 3 months.

    Following on from this, I broke up with my long term partner. To make myself feel better, I spent quite a bit on credit cards, a few weekends away, a few nights out, clothes, makeovers, gardening etc. I could have easily carried on living in my bubble and spending more, had it not been for my card being declined in a shop (that has never happened to me before), and getting stuck in a very high interest overdraft, which I thought I would clear at the end of the month, but didnít and I was forced to keep increasing it. This went on for 6 months, then my credit card was declined and a payment bounced, and I started to worry. This was 2 months ago and I just seem to be spending more. I canít understand what is wrong with me!

    I have to say, I am utterly fed up that I canít seem to control my spending. £7000 isn't a lot of money but my worry is that it keeps increasing. I canít seem to stop spending. And I know that Iím a stone throw away from real financial implications. Iím just managing to keep everything afloat. Iím moving money around, taking out 0% deals to transfer debt and borrowing from family (I havenít included that in my total sum as I owe around £1000 to my mum and brother and Iím just trying not to think about that).

    Anyway I found this site and have been inspired by the posts from people, and I very much want to join in and get myself on track.
Page 2
    • wibblewibblewibble
    • By wibblewibblewibble 5th Nov 18, 9:21 PM
    • 16 Posts
    • 20 Thanks
    wibblewibblewibble
    After looking through my bank statements for the past couple of months, I've realised that I'm spending a bit too much on unnecessary items. Some things I could cut down on or quit to save money are:

    Vaping
    Red wine
    Buying drinks
    Buying snacks
    Eating out
    Bus fares

    Buying clothes for my youngest. I over buy him clothes. I didn't realise how much until now.

    Clothes for me, I won't buy anything for months and then I'll go out and spend hundreds (£400 in October on boots and a coat ��). I rationalise this by thinking that I hardly ever treat myself to clothes and then binge on spending.

    I'm going to make that my aim for the next 3 months and see if it can make a difference. If I can, I'll put the money into an emergency fund. I will also cut back this Christmas, any ideas on this would be very much appreciated.
    • beanielou
    • By beanielou 5th Nov 18, 10:48 PM
    • 58,046 Posts
    • 238,956 Thanks
    beanielou
    Anything you could sell to help you pay off your smallest debt which would give you a boost?
    Baby steps are good
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 12 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. MFW 2018. No 144
    • Onebrokelady
    • By Onebrokelady 6th Nov 18, 9:42 AM
    • 849 Posts
    • 4,447 Thanks
    Onebrokelady
    How about setting up a fund for clothes and pay in an amount each month rather than having a big spending spree every so often,I find I think more carefully about spending my hard earned savings whereas if I was to go off on a spending spree I would overspend for my budget
    Also do a clothes audit to see exactly what you have and how many outfits you can put together for yourself and your son then you know exactly what needs replacing and aren't buying things you already have

    I'm a jeans and nice top or T-shirt girl myself so I made sure I stocked up on several pairs of skinny jeans for day to day wear then I just change thentops around,I made sure I have enough jeans so that there is always one to wear one in the wash and one spare,I have few going out dresses and that's it,I had a nice pair of boots for Christmas last year and they will last for ages because I don't wear them every day,I wear a cheaper pair of boots for everyday wear in the winter or cheap converse type shoes in the summer
    I found sorting out my clothes has saved me money and time in the last year ,I even found a couple of bits in my wardrobe that i forgot I owned that are perfectly wearable
    Just keep swimming
    Original Debt Owed Jan 18 = £17,630 Paid To Date = £1,440 Total Now Owed = £16,190
    Emergency Fund = £300 Xmas savings = £400
    • wibblewibblewibble
    • By wibblewibblewibble 10th Nov 18, 2:12 PM
    • 16 Posts
    • 20 Thanks
    wibblewibblewibble
    Anything you could sell to help you pay off your smallest debt which would give you a boost?
    Baby steps are good
    Originally posted by beanielou
    Ha just worked out how to quote text in replies!

    Hi Beanielou, I have paid the smallest debt off for MBNA , unfortunately I used my Halifax overdraft to do so

    I don't have anything to sell, I'm quite minimalistic so tend to donate everything to charity as soon as I don't need it. However,, my Mum wants me to sell some old toys (cabbage patch doll, pound puppies) so I need to look into that, they may be worth something. She also has a pair of handmade leather boots that are over 30 years old and in great condition, and some jewellery from when I was younger. I'm not sure that I want to sell the jewellery though, even though it hasn't been worn. Once I get my energy levels back up again I will look into that.
    • wibblewibblewibble
    • By wibblewibblewibble 10th Nov 18, 2:26 PM
    • 16 Posts
    • 20 Thanks
    wibblewibblewibble
    How about setting up a fund for clothes and pay in an amount each month rather than having a big spending spree every so often,I find I think more carefully about spending my hard earned savings whereas if I was to go off on a spending spree I would overspend for my budget
    Also do a clothes audit to see exactly what you have and how many outfits you can put together for yourself and your son then you know exactly what needs replacing and aren't buying things you already have

    I'm a jeans and nice top or T-shirt girl myself so I made sure I stocked up on several pairs of skinny jeans for day to day wear then I just change thentops around,I made sure I have enough jeans so that there is always one to wear one in the wash and one spare,I have few going out dresses and that's it,I had a nice pair of boots for Christmas last year and they will last for ages because I don't wear them every day,I wear a cheaper pair of boots for everyday wear in the winter or cheap converse type shoes in the summer
    I found sorting out my clothes has saved me money and time in the last year ,I even found a couple of bits in my wardrobe that i forgot I owned that are perfectly wearable
    Originally posted by Onebrokelady
    Good idea, I will look into a clothes audit. I'm the same, happy in a nice pair of skinny jeans and a top! I'm lucky that I wear a uniform for work, so I don't need to buy work clothes. I have looked into opening a new account with M&S, but I checked my credit rating this week and found that it has gone into between poor and fair, for the first time ever. Therefore I'm not sure whether my application will go through, But ideally I'm going to try to open different accounts for outgoings. I'm just so unorganised with money, I tend to ignore the fact that I have to buy clothes, haircuts birthdays, xmas etc and don't count it into my outgoings, which I think has been a major problem for getting into debt.
    • wibblewibblewibble
    • By wibblewibblewibble 10th Nov 18, 4:01 PM
    • 16 Posts
    • 20 Thanks
    wibblewibblewibble
    Feeling very tired, today is my first day off , then back to work tomorrow. It has been a bad week for me moneywise. Not on spending, but on finding out I'm more in debt than I thought. Although there have been some positives, and I'm pleased that I decided to take control of things when I did, otherwise it would have been much worse.

    Positives:
    I have continued to walk to work and take meals in every day this week.

    Contacted Student Loans Company and got the tiny bit of overpaid student loan, that I overpaid back. I have also been paying back an overpayment (which I haven't included on my total debts) and whilst on the phone they said the debt collection team needed to speak to me. Think they were after more money but after talking to me they have agreed on £2.50 a month for overpayments, and then once I am out of debt I will pay them the outstanding balance. They were very understanding, which I appreciate. I was trying to forget about that debt but I'm pleased that it came to light as it did. I can't remember the exact figure of what is left but it's around £500.

    I was ready to take the kids out for a meal today, as we normally do on a Saturday. Biggest son (who is aware of my plight) said that it was a waste of money and that I should cook somthing nice instead. Therefore I have saved on this.

    We are quitting gymnastics for little son, which saves quite a bit each month! I feel guilty about this, but as well as the cost it is difficult to get to as I don't drive, and I think that has been the deciding factor. Little son still has swimming and music lessons to enjoy.

    Negatives:
    Well From next week I'm 3 weeks in rent areas, not sure how that happened. I used to pay monthly in advance. Landlord has agreed that I pay my areas and next months rent when I get paid at the end of November.

    I can't pay this months council tax until the end of the month. I haven't had a chance to phone them about this.

    Little son has gone through a second pair of school shoes for this year! I'm going to have to fork out for some Clarks shoes so that they last longer, the other two pairs were from Sainsurys and I don't think that they were made to last.

    I've had 3 birthdays to pay for, this has come out of my expensive overdraft.

    Biggest son is going away on his first holiday away next weekend, so I will have to give him some money for that.

    I gave in and bought an M&S dine in for two meal yesterday!

    I'm nearly at the end of my vape oil, and I am not buying anymore, so once it has gone I am a quitter! This is a positive as well as a negative, but it's in the negative bit because I'm dreading it.

    I've had a couple of letters from school which require money, I haven't budgeted for this.

    My credit rating is now hovering between poor and fair! It has always been very good. My bounced payments have probably contributed to this.
    • fatbelly
    • By fatbelly 10th Nov 18, 5:06 PM
    • 12,980 Posts
    • 10,050 Thanks
    fatbelly
    Negatives:
    Well From next week I'm 3 weeks in rent areas, not sure how that happened. I used to pay monthly in advance. Landlord has agreed that I pay my areas and next months rent when I get paid at the end of November.

    I can't pay this months council tax until the end of the month. I haven't had a chance to phone them about this.
    Originally posted by wibblewibblewibble
    These are both important (priority) debts. It sounds like the rent arrears are being managed but if the council have already written to you about a late payment this year then the next letter could be a notification of a court hearing with a £60 charge applied. If you're on 10 monthly payments then you should only have 3 left to make and you could ask them to spread the remainder over the last 4 months of the financial year, starting in December.

    It may be worth a check to see if you qualify for (even a small amount of) council tax support because, if so, then you may find your council has a hardship fund you can draw on - there should be details on their website but these are often buried somewhere.
    • beanielou
    • By beanielou 10th Nov 18, 5:40 PM
    • 58,046 Posts
    • 238,956 Thanks
    beanielou
    These are both important (priority) debts. It sounds like the rent arrears are being managed but if the council have already written to you about a late payment this year then the next letter could be a notification of a court hearing with a £60 charge applied. If you're on 10 monthly payments then you should only have 3 left to make and you could ask them to spread the remainder over the last 4 months of the financial year, starting in December.

    It may be worth a check to see if you qualify for (even a small amount of) council tax support because, if so, then you may find your council has a hardship fund you can draw on - there should be details on their website but these are often buried somewhere.
    Originally posted by fatbelly

    Was just going to say this but fatbelly beat me to it.
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 12 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. MFW 2018. No 144
    • csarina2
    • By csarina2 10th Nov 18, 6:24 PM
    • 2,323 Posts
    • 23,930 Thanks
    csarina2
    We have never been in quite the situation you are, at one point we had a loan which cleared a lot of payments that were going out and also cleared our credit card. I would not encourage you to do this, you have to be very disciplined not to re use the credit card unless you are sure you can clear it each month. We did manage to clear the loan early so saved quite a bit of interest.

    What I would advise you to do is to contact the council and see if you can get housing and council tax benefit. We have a reasonable income but are entitled to, and so, claim HB and CTB. I think you can arrange for the housing benefit to be paid direct to your landlord.

    Keeping an account of what you spend in a spending diary can show you where you can make economises, and where you are frittering cash away.

    Keep going, you will get there in the end, even small chips help.
    • Mnd
    • By Mnd 10th Nov 18, 8:22 PM
    • 795 Posts
    • 978 Thanks
    Mnd
    You seem to have made a really positive start, and you won't be able to do everything at once, but if you start meal planning and buying just what you need, I think you will make a large dent in that grocery bill.
    Good luck
    • Onebrokelady
    • By Onebrokelady 11th Nov 18, 12:15 AM
    • 849 Posts
    • 4,447 Thanks
    Onebrokelady
    Well done on the things you have achieved so far,you are right in thstbits all in the planning,I've always been rubbish at planning my finances but I'm learning pretty quickly that planning down to the last penny is what make the difference between sink or swim
    You need to prioritise your rent payment before anything else and sort the council tax as soon as you can

    If you are struggling to managemyour debts to the point where you can't pay your essential bills it might be sensible to take advice from a non fee chraging debt charity such as Stepchange,they have options to help you get out of debt without making your life miserable
    Just keep swimming
    Original Debt Owed Jan 18 = £17,630 Paid To Date = £1,440 Total Now Owed = £16,190
    Emergency Fund = £300 Xmas savings = £400
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