tag:blogger.com,1999:blog-4583683569065535586.post3242100547755076554..comments2023-09-21T22:37:17.729+10:00Comments on Debt Diet: The Ugly Truth – Day 62Debt Dieterhttp://www.blogger.com/profile/11649389379384846763noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-4583683569065535586.post-51282854725666393862007-11-01T19:57:00.000+11:002007-11-01T19:57:00.000+11:00I know what you mean louise, there's something cat...I know what you mean louise, there's something cathartic about being honest with yourself and the world.<BR/><BR/>I've even told a few people in my real life how much debt I've got and what I'm trying to do about it too now.Debt Dieterhttps://www.blogger.com/profile/11649389379384846763noreply@blogger.comtag:blogger.com,1999:blog-4583683569065535586.post-32680629596342488932007-11-01T18:00:00.000+11:002007-11-01T18:00:00.000+11:00I felt like I'd been to confession after posting m...I felt like I'd been to confession after posting my 'awful truth' (not that I've ever been to confession!)it's kind of a relief to share it.<BR/>soon you'll be posting how much you've paid off. good luck for November.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-4583683569065535586.post-75890550852065552862007-11-01T17:30:00.000+11:002007-11-01T17:30:00.000+11:00Thanks for your thoughtful comment sea eagle, and ...Thanks for your thoughtful comment sea eagle, and welcome. <BR/><BR/>I'm not sure a bank would give me a consolidation loan at this stage, also their interest rates are actually higher than my cards!<BR/><BR/>I truly believe last month was a glitch due to a large unplanned expense and no emergency funds. <BR/><BR/>It's really given me a determination to sort this out once and for all and to never have this happen again. <BR/><BR/>I've also had a substantial pay rise & set up a workable budget since then so I don't need to use my cards any more.Debt Dieterhttps://www.blogger.com/profile/11649389379384846763noreply@blogger.comtag:blogger.com,1999:blog-4583683569065535586.post-23462898561272632002007-11-01T13:45:00.000+11:002007-11-01T13:45:00.000+11:00Sadly, from what I can see, your debt is going to ...Sadly, from what I can see, your debt is going to sky-rocket a lot more with Christmas coming up. My own suggestion, and this worked for a colleague of mine a few years ago who was in the same debt trap, would be to do the following:<BR/><BR/>1. Destroy all of your credit cards. Cut them up - get rid of the opportunity to use them. Contact the provider to cancel them. Pay them off with the statement or online.<BR/><BR/>2. Get a lower-interest consolidation loan from a bank or credit union and pay all of your other debts off in one go. That way you then have only one debt to manage and the interest payments are a lot less.<BR/><BR/>3. Learn to live a "credit-free" lifestyle. Don't buy things you cannot afford. If you need something, lay-by it at the store. You can make your regular payments and then take it home once it is fully paid for.<BR/><BR/>The only way you will reduce your debt is to seriously change your habits and lifestyle. I've lived debt-free for 18 years now. I don't have all the things I want, but I also don't have the weight of debts hanging over my head. The only time I would consider going into debt would be for the purchase of a major item such as a car or house. But never for anything minor such as electrical goods, clothing or groceries.<BR/><BR/>Good luck in your mission. Cheers.seaeaglesrulehttps://www.blogger.com/profile/05048796180012872990noreply@blogger.comtag:blogger.com,1999:blog-4583683569065535586.post-37102145077770494202007-11-01T13:25:00.000+11:002007-11-01T13:25:00.000+11:00Thanks JW. Seeing the numbers go up this month was...Thanks JW. <BR/><BR/>Seeing the numbers go up this month was annoying and painful, but I know November will be fantastic.<BR/><BR/>I'm confident I'll get things back on track going into December.Debt Dieterhttps://www.blogger.com/profile/11649389379384846763noreply@blogger.comtag:blogger.com,1999:blog-4583683569065535586.post-893259851490516242007-11-01T12:43:00.000+11:002007-11-01T12:43:00.000+11:00I'm pulling for you to reduce your debt big time t...I'm pulling for you to reduce your debt big time this month.<BR/><BR/>Good Luck. I'll be reading.JWhttps://www.blogger.com/profile/17321126623166177315noreply@blogger.com