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Debt Depression One a spendaholic, always a spendaholic?

#1 User is offline   Clairt 

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Posted 21 November 2005 - 01:35 PM

I'm in my early thirties and have about £17,000.00 of debt. The worst thing is, I have absolutely nothing to show for it ! I'm desperate to find a way of dealing with my debt as it's starting to make my future look bleak. I can't imagine having a family, as I simply couldn't afford to give up work. I don't have a pension. I'm worried sick and just don't know what to do.

When I was 22 I got married and spent two years in a mentally abusive relationship. As a result of that relationship I started suffering with panic attacks and depression. My self esteem had been completely destroyed and I felt completely worthless. Shopping became a way of making myself feel better.

After years of fighting the panic attacks and building up my confidence, my spending is still a problem and I just don't know how to stop it. I wake up every morning feeling sick because of the debt hanging over me. Depression is still a problem for me. It's a vicious circle. I spend to make myself feel better and yet the debt feeds my depression !

I am soo ashamed of what I have done. I can't bear to tell anyone. I come from an extremely close family but I couldn't bear to disappoint them by telling them of my problem. They have always been soo good with money and I'm afraid they will think I've just been frivolous. I don't really understand it all myself, so how can I explain it to anyone else.

The desire to spend is soo huge. It's ridiculous. I buy magazines by the bucket load. I don't read them, I just look at the pictures and then move on to the next one. I've even bought the same magazine twice, as I didn't realise I had already seen it. I just seem to get a buzz out of buying things. It's not like it's anything I really need or want and it doesn't bother me if I take it back, but it's the action of buying something that temporarily gives me the "feel good" factor. And it is ALWAYS temporary. That's why I'm now £17,000.00 in debt and desperate to break the cycle.

I just don't know where to turn. :(
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#2 User is offline   Benjamin Fry 

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Posted 21 November 2005 - 08:07 PM

have you considered being a subject for the programme Spendaholics? I know they are desperate to find some new people to start almost immediately. You would get a lot of expert advice and I'm sure we could help you alot. Your situation is very similar to many we have dealt with. I can understand that it would be a big deal for you to go public with your issues, but for many people that is a huge relief. What do you think?

If that's not for you, have a look through the forum and come back to me with what you think could be the root of your problem.
visit benjaminfry.co.uk for more information on my work

support getstable.org for better mental health treatment in the UK
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#3 User is offline   Suzanne 

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Posted 27 July 2006 - 07:04 PM

Hi

It was good to read your story as I can relate to so much of what you are feeling. I am 18k in debt and only 25 - my parents know nothing about my debts and I feel quite ashamed. I am stressed and also anxious about my future. Like yourself I cannot see myself ever having a family - I do not have my own home, any savings or a pension. I feel stupid - how could I have let things get this bad ?? I want to be honest with my parents but do not want them to worry. I have spent the money and its my responsible to pay it back. Its comforting to know I am not alone and that many people are in debt - to some extent or another. I essentially have no self control - I feel very guilty when I buy something yet that does not stop me going shopping a couple of days later.

I have nothing to show for £18k - no flash car or a house just loads of crap I don't even need. I think I need to get a grip on reality. I cannot stop myself - its like its not really me buying all this stuff - I have no control. My boyfriend is in the same boat he has £12.5k of debts and his parents know nothing about it either. I do feel I have made my life quite stressful and have limited my options for the future. Like yourself I buy more to make myself feel better but then when the credit card statements arrive I get very down - its very easy getting into debt but so difficult trying to get out. I have friends in the same position - debts is ruining people's lives.
I have a habit of buying things and sometimes not even wearing them - I have stuff in my closet with the labels still on them - how stupid !! My family think things are going well - but they could not be further from the truth - I am living a complete lie to my family and friends and that makes me feel crap. I am finding that the buzz factor you mentioned is becoming shorter and shorter.
I wish you all the very best - I hope you will be ok. I am not sure what the answer is but hopefully we will both find it.
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#4 User is offline   gordman 

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Posted 27 July 2007 - 01:49 PM

Quote

I'm in my early thirties and have about £17,000.00 of debt. The worst thing is, I have absolutely nothing to show for it ! I'm desperate to find a way of dealing with my debt as it's starting to make my future look bleak. I can't imagine having a family, as I simply couldn't afford to give up work. I don't have a pension. I'm worried sick and just don't know what to do.


I understand you are in a desperate situation, who wouldn't be depressed, but it seems to me you are a little bit too depressed about you financial debts. You don't have to take it this way, there are so many options for people like you. Have you ever considered a debt reduction? You should look into this i strongly believe it will help, this is what i like more about financial system, it's getting more and more flexible and affordable even extreme situations. I am sure you will handle everything just fine!
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#5 User is offline   FinVik 

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Posted 22 August 2008 - 03:53 PM

Not entirely true.
"once a spendthrift, always a spendthrift". it is a kind of addiction, but not difficult to come out off. i can very well understand your position as i have myself faced tough times in life with controlling my finances. i surfed every site, posted in every forum. just trying to find a way out. the way out was 'i needed money to payoff my debts'. somehow i was convinced that if i will write to someone maybe i will get a donation to come out of misery. my self esteem was at the lowest level. nobody helped me. atleast for any other addiction you have rehabs, who can help you out, or some NGO's who are ready to help you out for free. i visited many consultants every one wanted money.
then when i was about to give up i gave it a serious thinking. i was in immediate need, but somehow i knew i can not arrange the kind of money i needed to come out of it.
i was left with just my body and mind. friends stopped visiting as they knew i was in shambles....
i was alone. then i made a list of Do's & Dont's. i had a job. i stopped everything. for the next 8 months i survived on minimum
and its now 2 n half years i am almost out of debts. i am a better man now, my spending habits have changed. so I still feel you can come out of it. just one thought always remember, i know a lot of people would disagree on this (i dont want any discussion on this please)
"A mans best friend is his Bank Balance"
Help is just a blink away
Vik
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