General Chat

Switching cards may not be wise at this point for two reasons.

1) Youll have a new card with new spend limit - v dangerous!

2) You cant rate tart like you used to be able to anymore as the credit crunch is closing in. The fee to transfer your balance could be more than you would save - its something that needs to be looked at very carefully.

Also evertime you apply for a new credit card you re credit scored - it dosent look good to have too many credit applications within a short space of time.

I've cut up all but one credit card Maddie Moo and my Dad is looking after that for us. I HAVE to behave now especially since OH is about to take a drop in pay with any new job he may get.

I am EVEN considering giving up smoking *gulps* because that would be a saving and a half !!!

Just got to get my head round that one !!! only managed it for pregnancy so far.......and I'll not go down that road again lol.

Thanks again to everyone that's added. I am taking it all in and am determined to turn this around xx

Muffy, I think you have raised a very important point there. The ease with which somebody can get into debt without leaving their home because of internet shopping.

By the way, we have always been fussy about baked beans but Tesco own brand (Healthy living) are very good and we always get them now.

If you eat chicken dishes and usually use breast buy thighs and take the skin off before cooking, cheaper and just as tasty.

Ann
Glos

try this hun


www.moneysavingexpert.com

martin lewis he is always on gmtv

tells u about switchin ya cards to no intrest on balance transfers for 6 month and stuff

Muffy, when you get your next bank statement, make a list of all outgoings. If DD then contact supplier to find a way of reducing. If cash withdrawals then detail what you bought with that money then question yourself if you really needed it. If you can't remember what you bought then maybe you didn't need it !

Muffy - no wonder you feel teary - it's damned scary to be overwhelmed by debt that you can no longer manage ........ i seem to have been on the same merri-go-round for the past 7 years since i stopped working in London ...

My average income is half what i used to earn - but after 20 years of big money and easy credit, it's hard to readjust.

I like Maddie's method of the two bank accounts system - think I might try that myself :O))

Next time your bored Muffy PM one of us and see if we are about.... Ill be happy to chat about the weather or whatever if im about and it helps to stop you shopping :)

Its easily done but your half way to fixing it. Now go find those scissors.

Thanks for all the support....... I know I've been a daftie and I feel a bit teary. about how kind you're all being. I kind of behaved a bit like a spoilt brat for the last year or so. OH got a better paid job and I just closed my eyes to the interest etc. I've bought lots of really cool stuff lol lovely new mattress for my bed........ furniture for the house........ loads of bits for the kids......but I went OTT.

Last time I got into debt I was 18...... and it shook me....... I thought I'd learnt my lesson but ......hey ho...... bad combo....... hubby working long hours on nights.... me home alone and bored with a credit card on the net lol xx

Like McAnne I've being there, done that and got the t'shirt. Don't beat yourself up Muffy it's easier to do than you realise. You buy something that costs a small amount here, there and somewhere else too and it all adds up before you realise it.

Asda used to sell smartprice noodles for 9p that made good snacks or part of a meal. I practically lived off them at uni.

Don't beat yourself up too hard. You recognised the problem and are now doing something about it. My parents got sucked into a spiral of debt when I was a child. It was only really with my budgeting help when I was in my twenties that we got them out of it.

I've every confidence in you that you will get out of it. Budget, make a list of all your out goings and balance it with your income. Don't buy anything that isn't essential. Bogofs are great but be sure you only buy ones that you would anyway.. don't buy them just because they're on offer.

When you find yourself looking to buy something, ask yourself if you *need* it. If the answer is no... don't buy it. If you smoke and don't think you could give up then cut the amount in half... limit yourself to a daily number of ciggies. Same with alcohol make it a bottle of wine a week if you must have a drink (although if you must have a drink I'd be worried about other problems).

When I'm in town and see something I want to buy I walk round town a while then go back to it, then decide if I really want to buy it - saves a lot of impulse buys and money too.
When food shopping, each week try a different own brand and see what you think, see if you can tell a difference.
When shopping decide if you really want it, do you need it, can you afford it - if you answer no to any of those then don't buy it.
I don't use a credit card any more, have never used a debit card, I stick to spending cash only.
I put all my small change into a coin sorter and every so often bag it and take to the bank into a savings account - mounts up to quite a few pounds over a few months.
I must have saved myself a small fortune over the past few years. I have no debts and now have some savings - not a huge amount but growing slowly.

i got bitten by me credit card wen young luckily dad paid it of me and i paid him intrest fee over 2 years lmao

swore id never get one again
hence im not far from me limit on me new card now

yes see i learn so no use asking me muffy lol

Muffy, typical example, Ambrosia Rice 47p BOGOF, shops own brand 17p !

If you have a large freezer that is well stocked, every so often have a freezer week, eat from the freezer not the shop, stock up the freezer when you get spare cash.

Save 20p coins, you wont miss them and they soon mount up.

Ann
Glos

Muffy dont beat yourself up - you are facing up to what is a problem thats shows a lot of courage.

Also think about what you bought and why? Was it necessity or was it a want?
If your cooker went and you had to buy a cooker - well thats life - if you bought shoes and clothes you need to think about why?

We all love you just as you are and I am sure you will get a lot of support and advise.

You havent buried your head and bought more to take mind off it - you are working out a financial solution which is admirable.

I know LD I do watch for that !! They can be very sneaky ...... sometimes though you DO get a great deal.....it's just keeping track of what you usually pay and making sure you do your sums.

Other week at Tesco they had a buy two get one free deal on some wines.......

But only ones that were hiked up by an extra two quid a bottle !!! cheeky wotsits lol xx

Muffy, BOGOF is not always the cheapest !

Thanks McAnne.

I feel a bit ashamed of myself really but I know it's happened to lots of others so am trying not to beat myself up about it too much. Up til now I've always been very sensible with money...... I just don't know how I did it really !!!

I'm going through all my direct debits one by one and working out whether or not I'm overpaying or not. If I am they go on the list of *must do's*

Ebay is my new friend as are all the bogof offers at the supermarket lol xx

A keyword in saving money is "Banter". Whatever you are buying or whatever services you are paying for, talk to your suppliers and negotiate downward !

I run several bank accounts Muffy - goes back to the days I used to have to budget a lot harder than I do now - but worked for me so still use the same system.

My salary goes into one current account - I pay X into joint current account each month from it - the joint account is only EVER used for household running - mortgage, bills, food, utilities etc..... you can work out what this is almost to the penny as it shouldnt vary much month to to month so that account should never go OD if you pay the same in each month - I try to keep an extra £50.00 to a hundred in there just in case over the cost of bills.

I am then left with X in my current account. I have a set amount I put away for savings - what used to be emergancies. That leaves me with a regular figure - I divided that by four and every friday pay myself by standing order into a savings account with a cash card.

If I want smokes, shoes, hair, make up etc ..... its all paid cash with that savings account. If I want something in particular I save a few weeks money in that account.

To be fair I do use cards as there are some advantages but come home and pay them off the same day.

This method helped me when I really needed to knuckle down when I was younger and I still use it loosely to this day.