a_j_mair
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Registered: 23rd Jan 04
Location: Scotland
User status: Offline
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i have been trying to do the this recently, pay off cc after moving out and spending lots on esentials for the house and DIY etc
I have been working 10hrs overtime the last month and putting extra cash away
alos started to use my savings i had to pay off debts which makes me skint but then i really an skint so work harder at saving
Just got a new car which i would like to pay off by this time next year aswell
so just got to work hard spend less time in the pub 1 night a week max
if i broke a £10 or £20 i normally through most of the change in a tub
means it ends up full of £1 coins and fair adds up quickly to
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Andrew
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Registered: 5th May 04
Location: Skoda Octavia Estate, Ford Puma
User status: Offline
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I do odd jobs for people i know to make money i can go out and blow on the town/silly drives.
As with Iain, i put money away in a seperate account that is then used to pay monthly bills and also send £250 a month into an ISA account. I think this tax year i'll start putting £300 away.
What ever is left in my account after fuel i spend on bits for the flat.
This is just what i was doing when working. I've been using my savings to live over the past month. Hopefully with have a job again soon. As i've been off there have been more odd jobs and no sensions on the town.
Other thing that helps is not taking bank cards out with you and generally being a tight bastards 
Fuck knows how i will pay off my 15k student loan 
[Edited on 26-03-2009 by Andrew]
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Graham88
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Registered: 16th Apr 07
Location: South East Kent Drives: E46 M3
User status: Offline
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quote:
Originally posted by Jambo
i always found a simple philosophy which i stick to all the time, which helps you cut the crap out.
I used to drive to work park in a car park £6, buy 20fags £5, buy a snack £1, buy lunch £5, sometimes a magazine etc. That was about £20 a day i didnt need to spend, thats £400 a month on shit 
I make my own lunch, costs me about £6 a week. I park further away and walk for free, gave up smoking and dont snack.
I just try not to spend anything, i know that sounds simple, but even if your buying a 30p newspaper just ask yourself.. Do i really need it?
I found getting into debt wasnt about blowing loads of money on big ticket purchases. It was buying a magazine a drink and chocolate when i got petrol. Pissing small amounts of money away on shit it all adds up fast!
Summed it up perfectly. I can track all the money on my big purchases each month, but it's all those small things that you think "where did that £400 go this month"
I'm trying to do it atm but I still want to be able to eat out if I want to, I don't need to cut anything out I was just doing it so see if I could put a bit more into savings each month. I'm fortunate enough to earn enough not to have to care.
[Edited on 26-03-2009 by Graham88]
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CorsAsh
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Registered: 19th Apr 02
Location: Munich
User status: Offline
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Certainly not by buying my car
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John G
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Registered: 18th Jul 05
Location: Wirral, Merseyside
User status: Offline
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i didnt get in it
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Daimo B
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Registered: 20th Mar 00
User status: Offline
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Been there Sucks ass. All that pesky Corsa's fault
AS already said, also don't carry spare change or money in your wallet. Money in my wallet seems to just dissapear. I only pay by card as much as possible on essentials.
A loan? Not such a good idea, but if you['ve got lots of small debts, its worth thinking about. Working out the % your paying each month on lots of different debts can be far more than one fixed %.
Rates are high atm, and lenders are cautious, so its a bad time, but worth considering. Any "bonuses" or OT work is also worth bunging on debts as you'll pay less interest on the overall debt.
Or even (if they can help), talk to your parents, maybe arrange a 0% loan with them and pay back x amount each month (again with more if need be).
The main thing though is don't cut yourself short. Lifes too short to worry about it. As long as you can pay off a little each month, the debt will come down. Don't pay so much on debts that you can't afford to live each month. Go out etc, just don't go stupid, drink a few less beers, catch a bus into town instead of a taxi etc....
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Colin
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Registered: 4th Apr 02
User status: Offline
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Ive not really ever been in debt, only ever had small managable loans, got 2 just now but only took them because they were on offer @ 0% APR.
How to get out of debt............stop spending money would be a good start 
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Kano
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Registered: 29th Aug 04
Location: Fife
User status: Offline
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Never been in debt for anything, always paid cash even if its meant I've had to wait. Got a mortgage now but I wouldnt class that as debt..
I get paid every Friday so on a Thursday night anything left in my current account I stick across to my savings. Soon adds up..
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JM Curdy
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Registered: 20th Jan 05
Location: Stranraer, Scotland
User status: Offline
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bout 8grand in debt and still hammer the arse out of the drinking each weekend (£200+) spend money on all sorts of shit i dont need and betting. Not too fussed right now as im young, but i think it will eventually catch up. just cant stop living the high and mighty life to get my arse out of debt
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Daimo B
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Registered: 20th Mar 00
User status: Offline
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quote:
Originally posted by Kano
Never been in debt for anything, always paid cash even if its meant I've had to wait. Got a mortgage now but I wouldnt class that as debt..
I get paid every Friday so on a Thursday night anything left in my current account I stick across to my savings. Soon adds up..
Thats absolutly great.
What help does it give the poster though, he's in debt, why not rub it in by saying how you have none, and also have a house..
Pur salt in that wound why don't you
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Kano
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Registered: 29th Aug 04
Location: Fife
User status: Offline
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quote:
Originally posted by VXR
quote:
Originally posted by Kano
Never been in debt for anything, always paid cash even if its meant I've had to wait. Got a mortgage now but I wouldnt class that as debt..
I get paid every Friday so on a Thursday night anything left in my current account I stick across to my savings. Soon adds up..
Thats absolutly great.
What help does it give the poster though, he's in debt, why not rub it in by saying how you have none, and also have a house..
Pur salt in that wound why don't you
Same theory aplies to getting out of debt aswell though, its just being careful with money. I buy what I want but only if I can pay for it..
If your in debt you just step it up a bit and do away with some luxuries etc..
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Daimo B
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Registered: 20th Mar 00
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aye, its that easy.........
Says someone without debt
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J da Silva
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Registered: 10th Apr 03
Location: The FACTory
User status: Offline
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If you've got a mortgage, your in debt, dressing it up as something else is naive.
[Edited on 27-03-2009 by J da Silva]
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Daimo B
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Registered: 20th Mar 00
User status: Offline
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Not really as you own an asset.
Although its a debt of form, you should owe less than the propertys worth, so its cash held up in an asset. Its not really say a debt like credit cards, loans etc, that you can't simply sell the asset and pay the debts off.
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J da Silva
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Registered: 10th Apr 03
Location: The FACTory
User status: Offline
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Course not, but if you miss payments, bye bye house, you can't just say "Well it's not a proper debt so I'll stay here thanks, I'm not being evicted".
I paid mine off and ever since it's like I've become a new man, so I can't really say I know how people feel who are in debt.
Like you say, it's easy to judge people when your not in debt but I don't see why people put themselves in that position?
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Kano
Member
Registered: 29th Aug 04
Location: Fife
User status: Offline
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quote:
Originally posted by J da Silva
If you've got a mortgage, your in debt, dressing it up as something else is naive.
[Edited on 27-03-2009 by J da Silva]
Disagree completely..
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Daimo B
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Registered: 20th Mar 00
User status: Offline
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For me, i wanted my car, and a bike for work, so got a loan.
Problem was I my bike died after a few years, and I needed a new one, so had to expand the debt.
Then the car rolled down the drive ripping out the A pillar. Couldnt sell it, couldn't fix it, needed more money to get out of the fix, hence even more debt.
Im out of it now, just the house. You get a few months leway if your in trouble, but yeah, 3+ months without payment and your gonna start getting in trouble.
But, if you buy a car, the value will always go down. In 5 years when the cars worth 1/2 its purchase price, but you still owe 2/3's, then your most definatly in debt.
Debt sucks, but is it the peoples fault for wanting the money, or the banks fault for lending it out to those who couldn't afford it??? Or is it a bit of both?
The weight a debt carries over you can make you miserable, hence the advice not to totally cut your life off. enjoy life still, just be more responsible when you go out. Do you need to sepnd £70 on a night out, canyou make it a £30-40 night? 2 of those and thats £50 off your debt you could pay already.
But lifes short, as long as your making the payments, its all good. The debt will come down. If it lasts 20 years, so be it. You will earn more money in time. Just keep paying the monthly installments and live your life.
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J da Silva
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Registered: 10th Apr 03
Location: The FACTory
User status: Offline
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quote:
Originally posted by Kano
quote:
Originally posted by J da Silva
If you've got a mortgage, your in debt, dressing it up as something else is naive.
[Edited on 27-03-2009 by J da Silva]
Disagree completely..
Don't pay your mortgage then, and enjoy the extra money per month. 
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J da Silva
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Registered: 10th Apr 03
Location: The FACTory
User status: Offline
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Daimo, I agree, they lend it out willy nilly knowing wether or not it's going to spiral out of control.
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Kano
Member
Registered: 29th Aug 04
Location: Fife
User status: Offline
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quote:
Originally posted by J da Silva
quote:
Originally posted by Kano
quote:
Originally posted by J da Silva
If you've got a mortgage, your in debt, dressing it up as something else is naive.
[Edited on 27-03-2009 by J da Silva]
Disagree completely..
Don't pay your mortgage then, and enjoy the extra money per month.
Strange way to look at things.. If you dont pay your mortgage then you cant afford the payments and therefore its bad debt, having somewhere to live is a neccesity whereas loans and credit cards are not..
I agree that its a type of debt but not bad debt in any way..
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J da Silva
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Registered: 10th Apr 03
Location: The FACTory
User status: Offline
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I know it's nothing like a store card loan etc, but to not pay it carries a far worse outcome than missing a tenner a month for a jumper from Next.
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Kano
Member
Registered: 29th Aug 04
Location: Fife
User status: Offline
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quote:
Originally posted by J da Silva
I know it's nothing like a store card loan etc, but to not pay it carries a far worse outcome than missing a tenner a month for a jumper from Next.
Very true, but the reason that most people fall behind on mortgages is highly likely becasue they have other debts and therefore living outside their means. The small things all add up, store cards, credit cards etc.. All these things are affordable on their own but add them all together and they probably come to a fortune in most cases..
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J da Silva
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Registered: 10th Apr 03
Location: The FACTory
User status: Offline
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Yeah they are bound to, with all the added interest and things.
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AdZ9
Member
Registered: 14th Apr 06
User status: Offline
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Haven't read the whole thread, but the way i've saved about £300 extra a month is to take a set amount out of the machine each week and only use that, its surprising how much you save when you actually see physical money and not a card.
I pay all my outgoings, then once i know what i have left i'll decudt £200 from it then give myself say £50 a week so i'm saving £200 without realising.
I don't spend any during the week as i now take a packed lunch, its worked wonders for me, you should try it.
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Gary
Premium Member
Registered: 22nd Nov 06
Location: West Yorkshire
User status: Offline
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Go bankrupt. Job done.
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