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200p

Skint Dad, Owes £39K To 33 Creditors

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In response to the Two In Five 18-24 Year Olds Are Already In Debt Nearly £3K thread. I did a search, but nothing posted on HPC yet. The young debt wannabes will end up like this, if they are not careful. Look into my crystal ball, 10 years on....

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Skint Dad’s Debt Diary 11 Oct 13

It’s been over six days since I made an entry into my debt diary and over that time I have come to the following conclusions:

  1. We are a total of £39,648,54 in debt as of the 11/10/13.
  2. There are a total of 33 creditors we owe money.
  3. We spend too much money on food.
  4. We have wasted so much money in the past.
  5. Denial won’t make the bad stuff go away.
  6. Facing your troubles head on is the only way.
  7. Putting on a jumper is better than having the central heating on.
  8. Value coffee isn’t that bad!
  9. We want to get married.
  10. It is possible to make a family meal for less than a pound.
  11. Family are the most important thing in the world (I sort of already knew this).
  12. Being 35 doesn’t feel any different to 34.
  13. Lists are our friend.
  14. We want to have another baby.
  15. We need to increase our income drastically.
  16. Material things don’t really matter.
  17. You can run out of tears.
  18. It is easy to put on a brave face for your children.
  19. Being positive really does help when the chips are down.
  20. I am more grey than I was this time last year.
  21. There is hope for the future.
  22. You can have nothing but still be rich.
  23. There is nothing wrong in wanting a better life.
  24. People who judge you need to look at themselves first.
  25. There are some truly wonderful people on this earth.

I didn’t set out to make a list like that today but then I don’t normally plan what I am going to write about.

Our lives have changed drastically over the last few weeks. Instead of running away from things, we are facing them head on. We have more clarity than we did.

There really are some truly wonderful people in this world – people we know personally and people we have never met. It is because of all these people that things have been a little easier.

Link

http://skintdad.co.uk/skint-dads-debt-diary-11oct13/

There's a whole website to managing his debts:

15 Simple Lessons Learnt From Being in Debt

Looking back I can’t think of a time in my life when I was in the black.

With us pushing to clear our debt and trying with all our might to be debt free, I’ve spent a lot of time thinking back how I’ve handle my finances and different money situations. It’s made me grimace at how stupid, how naive and how down right stubborn I have been in the past.

http://skintdad.co.uk/lessons-learnt-debt/

Surviving On The Breadline

It’s the 17 September, still a week away from pay day and all you have left is £6.20 to your name. In the cupboard there is only enough food to feed your family for three days and on top of this your one year old only has four nappies left.

http://skintdad.co.uk/surviving-on-the-breadline/

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C'mon, you're sure you don't want to upgrade to the 2016 Audi A7? Phoarr!

Edited by 200p

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oh and this out today about mobile phone bills and downloading paid for content.

Over eight in 10 children said they believed it was the responsibility of their parents to pay their bills, with only one in 10 saying it was down to them.

http://www.thetelegraphandargus.co.uk/news/14710704.Parents_face_a__tech_tussle__over_how_children_spend_their_pocket_money__survey_reveals/

No wonder parents are skint.

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Guy needs to max out his credit cards, put down a deposit on a couple of cheeky studios within walking distance to his local railway station (insider tip for top yield) then fill em up with immigrants/the young and just put the rents up. His DEBT will be inflated away and he'll have a nice little nest egg for his future off the backs of his none-the-wiser tenants, innit. BOSH!

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Guy needs to max out his credit cards, put down a deposit on a couple of cheeky studios within walking distance to his local railway station (insider tip for top yield) then fill em up with immigrants/the young and just put the rents up. His DEBT will be inflated away and he'll have a nice little nest egg for his future off the backs of his none-the-wiser tenants, innit. BOSH!

This is a sound plan. Also, everyone should do it, that'll really put some rocket fuel under house prices.

KER-F*CKING-CHING!

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oh and this out today about mobile phone bills and downloading paid for content.

Over eight in 10 children said they believed it was the responsibility of their parents to pay their bills, with only one in 10 saying it was down to them.

http://www.thetelegraphandargus.co.uk/news/14710704.Parents_face_a__tech_tussle__over_how_children_spend_their_pocket_money__survey_reveals/

No wonder parents are skint.

IMO mobile phones are a great way to teach children about the value of money. (when the time is right) get them a payg and make them manage it.

[OTOH I despair at seemingly all the other parents in child#1's class who appear to have bought their children a phone on contract - no wonder 80% think it is somebody else's problem]

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Used to be a program on BBC around 2005 about people in massive debt and how they were going to get out of it.

It'll be back soon

Me and my sister loved that show. The txt involved the word numpty lots of time.

Was that the one with the accountant in red bmw? Or was that the other one?

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Nobody in widest dreams in 2006 could have imagined what would happen over the next ten years...most of all what our leaders would do. They are capable of doing anything.

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This is a sound plan. Also, everyone should do it, that'll really put some rocket fuel under house prices.

KER-F*CKING-CHING!

Its funny, I come across a couple the other night who were still planning on doing just this! (It's me pension, innit, people). You think with section 28, and the rest, the message would have gotten through by now, seems not. :blink:

Edited by renting til I die

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Its funny, I come across a couple the other night who were still planning on doing just this! (It's me pension, innit, people).

Nothing but brutal losses borne by hundreds of thousands of mug investors will change sentiment on this.

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"14. We want to have another baby."

FFS, you can't even properly provide for the two you've already got. Give it a f***ing rest, there's already too many people on this planet.

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Nothing but brutal losses borne by hundreds of thousands of mug investors will change sentiment on this.

+1, totally agree. I see no other way that sentiment will change. The whole housing ponzi has gone too far, for too long. There is almost an expectation from some people I speak to, that new ways into greater debt will be found. 40 year mortgage, with a double income, to pay for a home.... totally normal to them.

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Its funny, I come across a couple the other night who were still planning on doing just this! (It's me pension, innit, people). You think with section 28, and the rest, the message would have gotten through by now, seems not. :blink:

yes, i know someone still adding to his btl portfolio. he used the classic "i'll just put the rent up" one liner when i asked how he would pay the new tax

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yes, i know someone still adding to his btl portfolio. he used the classic "i'll just put the rent up" one liner when i asked how he would pay the new tax

Nice to read that this isn't just a caricature that we have constructed on here!

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IMO mobile phones are a great way to teach children about the value of money. (when the time is right) get them a payg and make them manage it.

[OTOH I despair at seemingly all the other parents in child#1's class who appear to have bought their children a phone on contract - no wonder 80% think it is somebody else's problem]

True but once 18 it's better if they have a contract in my opinion. Someone is much better at managing money, if they have a modest supply of credit and are able to resist using it as opposed to having no credit in my opinion.

Edited by spacedin

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Used to be a program on BBC around 2005 about people in massive debt and how they were going to get out of it.

It'll be back soon

Your Money Or Your Life, with the fantastic Alvin Hall. Fantastic programme, and he often cut up cakes to illustrate things :-)

alvinhall200614.jpg

I'd love to see that programme back!

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Hmmnm

I see a 2016 property purchase involved somewhere in the mix here... although not enough info from just a simple domain lookup to determine whether it was bought by Mr.Skint... could be anything such an an associate's address or a family member.

There is info that suggests was it was rented out before last sale in 2016.

Although if purchased for family home, then I have no issues with it, and does look on some level of fairer level of affordability.

Still though... £235,000 flats.... there is money out there.   It is not a total land of skintness.  

2015: Investors and First Time Buyers. This split level converted 3 bedroom apartment is situated 

Quote

£235,000    Flat, Leasehold    14 Apr 2016
£175,000    Flat, Leasehold    23 Oct 2007     
£225,000    Semi-Detached, Freehold    20 May 2005    

 

Just came back to this given the living-breakdown over 10s of millions with reportedly <£100 in savings.  

When some of those with <£100 in savings on Mumsnet have homes they bought for £118,000 (worth £750K today) and thumping pensions they spend every penny of.  

Others quite naturally putting most of their savings to pay off mortgages, rather than accept lower rates on saving accounts.  

With the renter side appearing to be carrying most of the weight of things... the rent taking up big chunk of their incomes and making for a slow grind with any savings.

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On 30/08/2016 at 7:54 PM, thewig said:

Guy needs to max out his credit cards, put down a deposit on a couple of cheeky studios within walking distance to his local railway station (insider tip for top yield) then fill em up with immigrants/the young and just put the rents up. His DEBT will be inflated away and he'll have a nice little nest egg for his future off the backs of his none-the-wiser tenants, innit. BOSH!

You must be a IFA!

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On 30/08/2016 at 7:21 PM, Bland Unsight said:

Don't trust him. Value coffee taste like burnt gravy.

Would agree completely. it's disgusting. But then even coffee from coffee shops in the street is disgusting.

You have to look very hard for good coffee these days. 

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On 9/17/2016 at 1:13 PM, mrtickle said:

Your Money Or Your Life, with the fantastic Alvin Hall. Fantastic programme, and he often cut up cakes to illustrate things :-)

alvinhall200614.jpg

I'd love to see that programme back!

Even old  Alvin is a flipper t :) he programme was invented by Vicki Robin and you are requested to spread the gospel of this way of thinking without royalities or making money from it

http://vickirobin.com/

He has a  version of the book, the original is  better http://vickirobin.com/books/summary-of-your-money-or-your-life/

Only put two and two together on this thread

He presents the material on TV really well agreed

 

Edited by Greg Bowman

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2 hours ago, 200p said:

I switched to Whole Earth. It's caffeine free, and an alternative to coffee. I haven't gone back to the legal highs of coffee.

41lb+MMwCEL.jpg

Barley and chicory? Have you tried stirring some soil from the garden into a mug of warm water? If you live in an area of chalky soil this will contain your daily dose of calcium, and it has the advantage of being pro-biotic.

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