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Debt- spending out of control.

Im really struggling at the moment as Im in serious debt. Being a student, I rely on my student loan, as Im sure a lot of people on here do. I already have 2 part time jobs, and cant possibly take on any more jobs. My credit card is up to its limit, Im up to my my overdraft, and I have spent nearly all of my savings, which is money I was left as an inheritence.

I have a major spending problem, this prob sounds daft and some of you may laugh but I am addicted to buying clothes and shoes. Im spending all of my wages on clothes, at the moment my boyfriend is paying all the rent and I contribute when I can. I just cant stop buying clothes, I dont know why, I just get some sort of excitement from it, hard to explain really. Ive had a lot of problems recently and for some reason, it just makes me feel better. Ive tried to stop buying clothes but it really is not as easy as it sounds. This isnt a recent thing, its been going on for about 2 years. I have tried to budget, but I can never stick to it.

I really dont know what to do, I feel stuck in a vicious circle.

Reply 1

kikzen

14

cut up the credit cards

Reply 2

musicbloke

17

eat 9p noodles. Try and cook from fresh ingredients as much as possible. Don't buy more clothes - you don't need them. try not to go out.

MB

Reply 3

Talya

16

There are groups for people with your problems. Your Student Union should be able to tell you about them if you go and ask.

Reply 4

london_1

2

Use a computer spreadsheet to keep track of costs? :wink:

Maybe I do need to write software for the student market helping to solve the debt problem, minimising it as low as the software can based on user spending habits :smile:

Reply 5

Glory

1

you could always take the clothes back after youve brought them.

Reply 6

john williams

15

Usually its a lack of confidence which causes you to buy new clothes as you feel you need them to fit in or the idea of having new things is appealing for a very short time before it wears off. Maybe try and just be more happy with what you have and you font have to stop buying stuff, but maybe dont spend as much as stick to a budget and shopin sales. You could also ask your parents to give you some money. Also there are debt helplines and groups you can go to if in trouble.

Reply 7

london_1

2

Glory

you could always take the clothes back after youve brought them.

A computer program is needed. Type in all your spending, and the program then tells you what to cut out and what to increase. That way the computer warns you when not to spend? Maybe it could link to your bank online and make you not spend :confused:

Reply 8

dobbs

17

.Em.

My credit card is up to its limit

First off, I'm really sorry to say, but you must be an idiot...either that or you're deaf, blind and dumb....because I can't recall how many times I was told before I went to university NOT to get a credit card.

I'm also sorry to say, but you cannot be addicted to shopping. It's very easy....as someone said, CUT UP YOUR CREDIT CARDS...if you're not willing to do that then don't bother asking for advice from anyone because you don't deserve it.

Just stop shopping....stop it! Don't even go into town or to the shops, find other things to do - sports or join a club or something....anything to take up time!

Go talk to your Student Union because they'll be able to help get you a hardship fund or something. But beware, for some funds they'll only give you money if you can prove that you've only been spending money on stuff you NEED....not loads of clothes and stuff :rolleyes:

Good luck

Reply 9

Juno

20

Come over to Money Saving Expert. You can get expert advice from the forums there, and there are helpful articles on how to get out of debt, budgeting etc.

Reply 10

Lirael Abhorsen

1

yeah maybe this is just an attempt to displace the other problems for you.. try talking to close friends about those problems.. and with the shopping.. keep a list of everything you buy which will help to make you feel guilty and see just how much you are spending.. try not to go into shops as much and definitely keep out of expensive ones.... if you do not stop spending it could severely jeopardise your relationship with your bf so think of that before reaching for another outfit.. try looking through your wardrobe already and trying different outfits or customising your own clothes to get that excitement instead of buying lots of new ones.....cut down on all your living expenses i.e night outs, economy food at the supermarket to help pay for the debts. good luck.

Reply 11

IZZY!

15

just move to a remote village in Siberia and live happily there.

Reply 12

john !!

14

its so obvious that even you realise the problem is in you spending your money on clothes. so don't do it. its that simple. problem solved.

if you aren't gonna stop buying clothes - what can anyone here do? there is no magic formula..

I personally have a guilt feeling when I've spent a lot of money on clothes, or spend a lot of money in general, which makes me save for a couple of months, so there is a negative feedback loop that means Ill never spend more money than I have.

keep a record of all your money as well.. I'm going to start this for university, cos every now and then I get confused because I cant remember where some of my money is. have all the income and outgoings, EVERYTHING! that way it'll be much easier and more encouraging to make sure you aren't contilually running a defecit.

cut up your credit cards. if you borrow on a credit card, you're silly!

sell old clothes on ebay, if you spend all your money on clothes you should make at least a grand cos I made £300 and I hardly ever buy new clothes.

Reply 13

kikzen

14

i like spending money. its cool.

but i wouldnt spend lots if i didnt have money to pay for it all (or was going to get money to pay for it all)

Reply 14

Twaffy

1

Only take a small amount of money out. The amount you will need for food etc. leave your cards at home or cut them up.

Reply 15

john !!

14

yes that helps me too, I can cut my spending to a third if I ration myself money before I leave the house. say goodbye to impulse buying!

Reply 16

IZZY!

15

mik1w

its so obvious that even you realise the problem is in you spending your money on clothes. so don't do it. its that simple. problem solved.

if you aren't gonna stop buying clothes - what can anyone here do? there is no magic formula..

I personally have a guilt feeling when I've spent a lot of money on clothes, or spend a lot of money in general, which makes me save for a couple of months, so there is a negative feedback loop that means Ill never spend more money than I have.

keep a record of all your money as well.. I'm going to start this for university, cos every now and then I get confused because I cant remember where some of my money is. have all the income and outgoings, EVERYTHING! that way it'll be much easier and more encouraging to make sure you aren't contilually running a defecit.

cut up your credit cards. if you borrow on a credit card, you're silly!

sell old clothes on ebay, if you spend all your money on clothes you should make at least a grand cos I made £300 and I hardly ever buy new clothes.

i feel similar. i ve got after shopping syndrom. I fel guilty for spending too much money. When I do shopping, I spend quite a reasonable amount of money.

Reply 17

Jonatan

13

Seek professional help. Ask your student union for advice on where to go.

Reply 18

Sophdoph

1

Get a cheap notebook from Smiths. Write down what goes in to your account and what goes out for a week. If more goes out than in, then you need to cut down on LUXURY goods e.g. clothes. Do you need the clothes? Buy cheaper stuff if you can't stop buying clothes...you'd get more of a thrill out of getting a bargain top for £4 and knowing you can eat for the next week, than a £40 top and watching your bank balance go further and further into the red.

Reply 19

Manatee

14

Twaffy

Only take a small amount of money out. The amount you will need for food etc. leave your cards at home or cut them up.

That's a very good suggestion, I think. You can't spend what you don't have. Perhaps using cash rather than cards might make the money seem a bit more "real".

Also, speak to people around you about this. If they are aware that there is a problem, they will help to dissuade you from buying unnecessary clothes next time you go shopping with them.

Debt- spending out of control.

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