Money trouble

Andy - I roughly know what its like to be in your situation, I hate to compare, but I'm crap with money too.

I got paid today, and popped down to Tesco after work. I bought some de-icer (needed as I had run out) and put a full tank of fuel in my car. That will last me the week. I had a browse of the magazines there, and I was going to buy one. But I thought:

Do I Need It?

Thats all you should think. You don't need new amps, car parts, magazines, bottles of coke, snacks etc, they're luxuries.

If you only buy things that you need, like fuel and food, you'll save a lot of money.

Another trick is to change the timing of all your direct debits, So they all come out at once, right at the beginning of the month, a few days after you've got paid.

Then withdraw the rest of the money, leaving £100 or so in your account - GO STRAIGHT HOME

I'm not ashamed to admit it, when a similar kind of thing happened to me, I gave my cash card to my mum. I also gave her all the money I withdrew, and told her not to give me any unless I gave her a damn good reason.

You could even ask your parents to change the PIN on your cash card so you can't use it.

Worked for me ;)
 
Thanks Westy, you are right about the "Do i really need it" part. A lot of my purchases were impulse buying, buying take away 3 nights a week. Paying my cousin to help with my car.

For everyone's facts, i did buy a cheap car, so get off your high horses. It cost me £2.3k

I get paid this Wednesday and i got my payslip through today. At least i'll be out of the red with regards to my overdraft. I'm paying up one of my contracts (took it out a year ago to get the phone i wanted) £160 over the year. 2 of my contracts i actually use. One at £20 a month (500 mins and 900 texts) and the other at £25 a month (Flext 35 with web and walk max).

I found i was using my phone too much for one contract, hence why i use 2. The other 2 contracts were purely to get the phones i wanted. As i said, one of them has 2 months left, so that's £40 and then bye bye :)

Few other things need to be paid out for feb, but i should be left with quite a nice amount to see me through and get me back on track.

Luckily my store met all of it's contract sales targets, so i got a £559 bonus this month. That's been added onto my wage (only found this out today)

I'm glad that it's feb coming up, short month so i can see it through.

My parents are paying for my travel to work on Monday and Tuesday, so when i get paid i can pay them back.

There are a lot of things i could sell, but a lot of things i have come attached too. As many of you have said (sell your car). As a last resort, i would, but now that i have had my payslip for this Wednesday coming up, i think i will get through it, so i don't need to sell my car.

For everyone who gave me words of encouragement and advice including their own stories and dramas, i appreciate it, it's helped me put it into perspective and realise im not in as much trouble as i thought. I've never missed a payment on anything, i didn't want to start now.

For the rest of you who just came on to bash your keyboard, i hope to god that you don't get into any trouble, be in financial, physical, emotional or anything, because i will be the first to turn away. There is no need for it, i came on here asking for help, not to be told of what i already knew i did, grow up, and get away from the computer screen once in a while.

Thanks to the rest of you :) I mean that!

Andy
 
Jeese guys, chill.

So Aruffell got himself into a bit of debt and asked for some advice, did everyone really have to have a go at him saying how stupid he was spending all that money?

Can no threads be made where nobody questions what the OP is asking and has a go at them anymore?

I seem to get stressed at and questioned every two minutes round here as well recently.

Oh well :)
 
Aruffell said:
For everyone's facts, i did buy a cheap car, so get off your high horses. It cost me £2.3k
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£2300 is not a cheap car. A cheap car costs under a grand. You don't have a full driving license so you don't yet NEED a car, especially a modified car - you have a list of modifications longer than most peoples shopping lists. This is £2.3k you could knock off your debt by selling. You use the train for work anyway.

For the rest of you who just came on to bash your keyboard, i hope to god that you don't get into any trouble, be in financial, physical, emotional or anything, because i will be the first to turn away. There is no need for it, i came on here asking for help, not to be told of what i already knew i did, grow up, and get away from the computer screen once in a while.
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Wow, that was ironic. The reason people had a go at you was not becuase you've got yourself into a state but becuase you've asked for advice on here on the past, flamed the people who gave it to you, completely ignored everything they said and then gone and got yourself into £10k worth of debt.

That can peeve people.
 
Craig321 said:
Jeese guys, chill.

So Aruffell got himself into a bit of debt and asked for some advice, did everyone really have to have a go at him saying how stupid he was spending all that money?

Can no threads be made where nobody questions what the OP is asking and has a go at them anymore?

I seem to get stressed at every two minutes round here as well recently.
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Thanks mate, it seems you can't get advice or talk on discussion boards without following a certain brand or suit. If i owned a Mondeo, i'm sure it would be a whole different ball game, but we won't go into that lol

Andy
 
[TW]Fox said:
£2300 is not a cheap car. A cheap car costs under a grand. You don't have a full driving license so you don't yet NEED a car, especially a modified car - you have a list of modifications longer than most peoples shopping lists. This is £2.3k you could knock off your debt by selling. You use the train for work anyway.



Wow, that was ironic. The reason people had a go at you was not becuase you've got yourself into a state but becuase you've asked for advice on here on the past, flamed the people who gave it to you, completely ignored everything they said and then gone and got yourself into £10k worth of debt.

That can peeve people.
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I asked for advice on a £10k punto, people said bad, i listened and bought a £2.3k lupo worth a lot more than that. I saw it as an investment. Had it valued at £4.2k, i think i got a deal.

You say buy a cheap car, i know people with cheap cars (corsa's, clio's etc...) all paid under £1.5k and are all 1998 or older. All of them have gone wrong in some shape or form. Mine is still going strong. I don't yet get the train to work, from Monday i will be.

Andy
 
Aruffell said:
I asked for advice on a £10k punto, people said bad, i listened and bought a £2.3k lupo worth a lot more than that. I saw it as an investment. Had it valued at £4.2k, i think i got a deal.
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Had it valued by who, a blind man? :p

You say buy a cheap car, i know people with cheap cars (corsa's, clio's etc...) all paid under £1.5k and are all 1998 or older. All of them have gone wrong in some shape or form. Mine is still going strong. I don't yet get the train to work, from Monday i will be.
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How do you get to work at the moment then?
 
[TW]Fox said:
Had it valued by who, a blind man? :p

Go look on Autotrader, you find me a Lupo 1.4 Sport 16v for £2000 in good nick, look on ebay too if you want.

Mondeo galore for that price.

How do you get to work at the moment then?
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I drive with my mum or bro, they drive the car home. I'm going to a new store on monday, hence me getting a train from monday.

Andy
 
The only loan anyone should ever have is one on property and yes, I'm including cars. If you need credit at all, for anything, it means you can't afford it. Save up until you can, it's that simple.
 
Aruffell said:
You say buy a cheap car, i know people with cheap cars (corsa's, clio's etc...) all paid under £1.5k and are all 1998 or older. All of them have gone wrong in some shape or form. Mine is still going strong. I don't yet get the train to work, from Monday i will be.

Andy
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That's because you don't use the car ;) (I can't actually remember whether you've passed your test :o)

Let's have a look at my £300 Rover.

I love to drive it fast, I love to throw it into corners at stupid speeds... and yet in the past 10 months what have I had to replace that's actually broken... a CV joint and a voltage regulator (it's the original 12 year old alternator btw), which I changed myself last weekend. That's a total of £100 for the new driveshaft (could have been less if I had got it changed before) and then £5 for a second hand alternator from the bay.

Other stuff I've changed because I wanted to change it, not because it needed it.

So, not all cheap cars are unreliable rubbish heaps. Mine has got me to Bristol and Birmingham several times... and back home again. Even took me to Dorset once.

I'd sell the car, as that's where 70% of your investment has gone and get a cheapo car. So what if you don't look cool... you've got bigger fish to fry at the moment :)

P.S. Get a Rover :D
 
agw_01 said:
That's because you don't use the car ;) (I can't actually remember whether you've passed your test :o)

Let's have a look at my £300 Rover.

I love to drive it fast, I love to throw it into corners at stupid speeds... and yet in the past 10 months what have I had to replace that's actually broken... a CV joint and a voltage regulator (it's the original 12 year old alternator btw), which I changed myself last weekend. That's a total of £100 for the new driveshaft (could have been less if I had got it changed before) and then £5 for a second hand alternator from the bay.

Other stuff I've changed because I wanted to change it, not because it needed it.

So, not all cheap cars are unreliable rubbish heaps. Mine has got me to Bristol and Birmingham several times... and back home again. Even took me to Dorset once.

I'd sell the car, as that's where 70% of your investment has gone and get a cheapo car. So what if you don't look cool... you've got bigger fish to fry at the moment :)

P.S. Get a Rover :D
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I was reading that, and it made a lot of sense, but that last bit (P.S) made me forget everything you just said :D lol

I drive my car about 130 miles a week and that's as a learner driver.

So you can see, it does get used.

Andy
 
Ah sorry, I didn't think of that :) (edit... my reply came onto page 4, hence why I didn't read the replies on page 3)

130 miles a week is a lot for a learner. You not passed that test yet?

I still think the car is sapping up a lot of your income. You could sell it, pay off probably over 40% of your debt and get another car with the money.
 
You are a learner and bought a £2.4k car now that is more money than sense, I had to learn and drive my parents car for 3 years. :rolleyes:

Buy Now Pay Later is the motto to a lot of young people.
 
phykell said:
The only loan anyone should ever have is one on property and yes, I'm including cars. If you need credit at all, for anything, it means you can't afford it. Save up until you can, it's that simple.
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I totally agree :)
 
I would suggest going to one of the companies advertised by Carol Vordaman. Apparantly they can reduce your monthly outgoings, so that must be a good thing.
 
starscream said:
I would suggest going to one of the companies advertised by Carol Vordaman. Apparantly they can reduce your monthly outgoings, so that must be a good thing.
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doesnt she adverstise home owner loans?
no good for this one.
 
I don't think he was being serious about the carol vorderman loans at least I hope not with < 10k debt a lot better and cheaper options are available like 0% creditcards etc.

To the OP - just start putting as much as you can in another account each month, don't buy anything you don't need and then when you are sure you can pay bills etc without the need for the money you are putting in the 2nd account, you can make overpayments on your loan.

I also agree with above in that the only loan you should really get is for something that is appreciating, which a car 99%* of times isn't but a home 90%* of time is (over the long term).

I bought a punto GT for £650 3 years ago and its gone through all MOT's with just brakes etc need doing. However the turbo has gone now so I will just run it into the ground as its not worth getting the turbo replaced (the HG also needs doing). If your doing 130 miles per week then 2.3k for a car isn't too bad but you should really be passing your test soon. I take it the car is insured by your mum so when you pass the costs for insurance will rise (espiecially if you have modifications).



* = figures plucked out of ones behind.
 
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Aruffell said:
I have spent a fair bit of money over the past couple of months, and to be honest i dont know what i have bought.

I've spent £8000 of my own money, and got a £10,000 loan which i have now spent all of that.
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Was it like Brewster's Millions? Will some Uncle now give you 100k for frittering your money?
 
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