Well dream, we have to hav some type of discipline when it comes to credit and we have to learn that by our mistakes and by ourselves. It is good for someone to help guide us on the right track, but it is also important that you practice to keep it that way. I have heard of some people just allowing themselves to receive small debit or small credit lines so that they can manage it and not spend as much. Have you even tried to discipline yourself at all? Just curious!

I have no discipline when it comes to spending money. My boyfriend is trying to help me save money to pay off my debt. I don't have any more credit cards because I would just keep charging the credit cards. LOL.

That is highway robbery!
They are wrong for that one, the only time I have ever heard of something being that high is default rates and those corner payday loans. Getting him down to 8% is a blessing and I know that he see the difference now. Way to go Jill!

Hi Meya

He is the son of a good friend of mine really and is only young. I think he has got into debt by taking out a bad car loan which charged 33% interest but he didn't read the small print and didn't realise with that kind of interest the amount he owed would go up before it went down. I have now helped him get a much cheaper loan at 8% interest instead so that has helped a bit. But the car he got was not a good one and has needed loads of repairs so he ran those up on credit cards and before you know it he is got in trouble. Anyway I will read the article you put up.
Thanks Meya

Jill

Hi Jill and Sophie, here is a great link that started which FG provided for us to read. Jill, I think that is so nice of you to help a friend get out of debt. Most people would be like, "You are on your own".
https://www.financeglobe.com/SocialNet/index.php?page=forum§ion=topic&top_id=100313

Hi

I am trying to help a friend of mine who has got themselves into some bad debt.
Even with a strict budget I think they will find it hard to avoid going bankrupt. But I am on here to learn what their options are so I can advise them better.

Have a good day
Jill

You need discipline but you'll also need information if you plan to cut down on spending. This information comes from a budget. Even a simple, top-level budget can be surprisingly valuable. Short-term savings goals are a great way to enforce spending discipline. Keep giving yourself the occasional treat, but get in the habit of planning for them.