camz2018

Thanks everyone

Given I undergo regular credit searches in my job I don’t want to risk my career by not meeting these payments. I can’t have a bad credit and do what I do.

On a different note I’ve paid some back already and I’m tracking everything I spend in YNAB.

Salary isn’t bad, I should be able to afford the repayments with decent budgeting.

petitefrancaise

I LOVE YNAB. been using it for ?6 years. It was slightly better than MS Money at first but now with the webapp/mobile app it is fab. I've got my kids at college using it too. Good choice.

camz2018

So one day I totalled up all my credit cards and outstanding loan and realised I had 30k of debt. Around 5 months into using YNAB I’m at 25k, I genuinely think without YNAB I would have gotten into an even biggger hole. I’m also posting a debt free diary on money saving expert, I won’t share all the details here 😊... it’s tempting to think you can just walk away from the debt and not do the hard work but at least it’s giving me a life lesson paying this off and it’s got me into YNAB + tracking everything.

In a weird way once I get out of this debt mountain I know I will be much better money wise than I would have been had this not happened.

petitefrancaise

It's a great app.

There's a really great reddit ynab community too.

Garbatellamike

well done and if you can knock off that much that quickly you can sort it out in a couple or 3 years so not worth the risk of defaulting on ypur debt. You are doing well just keep going.

scrubbedexpat099

I just pay off my CC in full every month, seems to work.

petitefrancaise

yeah me too.

Sometimes managing finances gets complicated though. Like when you are moving countries and have bank accounts in 3 different countries, all with payments that need to be made.

Or you've got college kids in EU that need to pay bills and are authorised users on your credit card...

Or when you'd really like those new shoes but need to watch your budget.

camz2018

For me it was a period of unemployment for around 6 months (with rent and bills at over 1k a month and total outgoings much higher), followed by the landlord selling the property and having to find 3k to move to a new place, and student loan debts ie overdrafts etc not repaid (ie only getting 4k in support in total when my rent was 6k a year alone). I've never been reckless, just young and naive. The landlord also kept my deposit of 2.5k, I need to take him to court but that's a long battle, he is claiming I never lived there lol... London rogue landlords. My fault also, I never got a contract.

I'm not in a fortunate place of having parental help, had an abusive family, was removed by social services.

Weirdly, I have a lot of debt now, but I feel the most in control of my finances ever as I can actually meet my living expenses and then some (whilst paying off debt).

scrubbedexpat099

petitefrancaise

Good job.

I think most of us have never had parental help with finances. Standing on your own 2 feet is a great feeling and it sounds like you will be fine.

good luck!

Jerseygirl

My old mum taught me never to buy anything unless I could pay cash for it...apart from a mortgage. By all means use a credit card or interest free credit...as long as you already have the cash in the bank to pay for it. Her words have served me well over the years.

petitefrancaise

That's what YNAB is all about. My point was that sometimes it is difficult to keep track of everything.

Garbatellamike

yep my phillosophy too, mortgage is the only debt I have and no credit cards at all.

Jerseygirl

PF I have moved the off topic posts to Site Feedack forum.

uk_grenada

Bevs - Have a word with yourself - oh you did!