All you here about these days is the economic crisis. Greece not meeting deadlines; high unemployment; Tories blaming Labour (still); Labour saying what they’d do differently etc etc. Everyone is making cutbacks. So when you’ve handed in your notice in without a job to go to, cutbacks are going to have to be made.
This morning, while in the shower, I was listening to BBC Oxford & they had David Kuo from Motley Fool on talking about cutting credit card (from 2:10 minutes in), in response to the original draft of David Cameron’s speech. I’ve had credit card debt since I started working as a teacher. I was lucky (poor) enough not to have any debt from university because I didn’t have to pay fees & I worked from the age of 13 until 21 in a gift shop in my home town. My Granny set up blue & grey post office savings books for me & my siblings when we were small so I have always known that saving is essential. But I like pretty things & didn’t see why I should go short. There would always be another month’s pay to help sort it.
I agree with David in that debt is like a monkey on your back. It’s always there and I had to make a change. I had to clear my credit card. I didn’t know when I would be getting a regular salary in & cutbacks weren’t enough. I had some savings that I could use but I mainly paid it off by cutting back. I’ve made huge changes – shopped around for a cheaper haircut, joined Groupon etc & only buy essential things. Over on A Crafty Chai, I blogged about making my own salt scrub in a bid to save money. As a family, due to the drop of income, we’re having to cut & save where we can. Fewer meals out, reduce the film rentals from Apple TV & of course, ‘brand down’. It’s going to be a tough old time, but according to Big Dave, we must all do our bit. Practice what you preach Mr C!