DMP Diaries

£65k+ debt. Now on the road to £0 📉Documenting my UK Debt Management Plan: the numbers, creditors, cock-ups & things I wish I knew. Not financial advice 🇬🇧

[DMP Diaries @theDMPdiaries]

Hello, X (Twitter!) 👋🏻

I’m £65k+ in debt. 😬

I’ve finally stopped pretending everything is fine and I’m starting a Debt Management Plan with @StepChange

I’m documenting the journey from £65k+ → £0 here.

Welcome to The DMP Diaries. 📉

[DMP Diaries @theDMPdiaries]

@natu80502321 Adulthood is a cruel game!

[DMP Diaries @theDMPdiaries]

@Jakeli_47 I did this for years. Payday arrived and suddenly I was financially invincible for approximately 48 hours 😂

[DMP Diaries @theDMPdiaries]

@fuelmee I think the biggest luxury would be not having to think about money every single day. No checking balances, juggling payments or doing mental arithmetic before buying something. Just… peace.

[DMP Diaries @theDMPdiaries]

Payday at the end of this week and I’ve done something rather novel: I’ve worked out a budget that should actually last until the next payday 💷💰🤑

[DMP Diaries @theDMPdiaries]

@Bloke_Baz I’m 43 if it helps. Good job, decent salary and £65k of debt. Currently starting a DMP to sort the mess out. So no, you’re definitely not the only one who hasn’t got adulthood financially nailed 😂

[DMP Diaries @theDMPdiaries]

@QueerlyKai That’s a horrible amount of uncertainty to suddenly have dropped on you. Really hope you manage to get the PIP situation sorted and things look a bit less bleak soon. Financial stress takes over everything when you don’t know what’s coming in.

[DMP Diaries @theDMPdiaries]

@femiiiszn Turns out ‘I can afford it’ and ‘my credit card will let me buy it’ are two very different things. Took me years to learn that one 😂

[DMP Diaries @theDMPdiaries]

@daz_black I earn a decent salary and still managed to reach the point where I couldn’t get by without credit. That’s the bit that frightened me. You can look absolutely fine financially from the outside while quietly getting further into debt every month.

[DMP Diaries @theDMPdiaries]

@Tunex01 Can confirm. Currently conducting a rather expensive experiment into the ‘bounce back’ part 😂

[DMP Diaries @theDMPdiaries]

@itsdbtalks Finally, being vegetarian pays off financially 🙌🏻 Although I’m sure they’ll find a way to charge me £24 for a cauliflower.

[DMP Diaries @theDMPdiaries]

@MartinSLewis This will be my first Christmas on a DMP and so I can’t put a single bit of it on credit. I suspect that’s going to mean a very different Christmas, but hopefully a much less stressful January.

[DMP Diaries @theDMPdiaries]

Sunday morning financial update: still £65k in debt. Haven’t bought anything I can’t afford all weekend. Frankly, I think I’ve changed 😂

[DMP Diaries @theDMPdiaries]

@HughInvests Existing really has become an unexpectedly expensive hobby 😂

[DMP Diaries @theDMPdiaries]

@Educator_Lawal The scary bit for me was how normal it became. Salary in, minimum payments out, then use the cards again because so much of the salary had gone on minimum payments. Repeat every month. Took me far too long to realise I wasn’t actually getting anywhere.

[DMP Diaries @theDMPdiaries]

@PatsKam Mine barely says hello before it says goodbye 😫🤪

[DMP Diaries @theDMPdiaries]

@WealthMissions I remember when finding £20 in a coat pocket felt like a significant financial event 😂

[DMP Diaries @theDMPdiaries]

@MartinSLewis Thanks Martin, for pointing me to @StepChange. It’s been a lifesaver. Have a great long weekend 🙌🏻

[DMP Diaries @theDMPdiaries]

@KeepyCash Same rigmarole every year. It should be regulated.

[DMP Diaries @theDMPdiaries]

@Kinguchee_e Can’t afford to go out, or fiscal responsibility… I’m learning it’s a fine line 🤣