Cash points
Liz and Gary have spent five years trying to clear their debts and take control of their finances.
Their financial difficulties began when Gary changed career and used credit cards and bank overdrafts to make ends meet. Even though they were both working, their spiralling debts caused them to sell the family home.
Gary explains, "At the beginning we thought we’d get out of it. We looked forward to a salary increase, or to when Liz would find full-time work. We knew things were a bit out of control, but we were taking a risk to better ourselves."
Liz agrees. "It was hard to finally admit we had problems, but not knowing the legal system, we couldn't deal with it. You feel embarrassed. Who do you go to who won't judge you?"
Gary felt guilty, like he had let Liz and the kids down. “You get frustrated and angry at yourself. I remember my daughter looking at me wondering why I couldn't give her school dinner money. And the companies you owe money to make you feel inadequate; they intimidate and bully you."
Cash Only
Liz and Gary put one recommendation from ‘The Money Secret’ into practice – they started to use cash only.
"We put the money on the table and apportioned it into envelopes," explains Gary. "We work on a very tight budget now. We control what gets paid and what doesn't and nobody dictates how I spend my money any more.
Gary continues, "My advice to anyone would be… deal with it now! Not tomorrow. Don't be intimidated and don't allow people to bully you. From this moment on, take control of your money, get rid of your cards and handle cash. And get help; there is some excellent support out there!"
If you’re in debt or want to find ways to manage your finances more wisely, visit www.themoneysecret.info
Names have been changed to protect anonymity
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