Why isn't my debt going down even though I live below my means?
More than half of income goes straight toward debt servicing and unexpected necessities like car repairs, leaving people with no money by mid-month. This forces them to rely on wage advances and new debt just to survive, trapping them in a cycle where they feel like they are going backwards despite trying to do everything right.
What people tried
Every workaround mentioned in the threads below. We haven’t tested any of them — and nobody here is claiming they worked.
Found another way around this?
Share your steps and trade-offs so fellow engineers don't have to reinvent the wheel. No account required.
- 1Tracking every single expense for two monthsDid this help you?
- 2Cutting back on rent, food, beauty treatments, and partiesDid this help you?
- 3Planning to create a detailed budget and review debt-to-income numbersDid this help you?
- 4Selling possessions on VintedDid this help you?
- 5Working two jobsDid this help you?
- 6Using employer wage advance facilities to cover direct debitsDid this help you?
- 7Entering a Debt Management PlanDid this help you?
In their words
Unedited, grouped by where they were said, most upvoted first within each place, each linked to the thread it came from.
“I dont know what to do”source ↗
“Four years later, I feel like I am going backwards.”source ↗
“I have had to pay for car repairs I knew I could not afford because I needed the car to remain driveable, and I am now in effectively the same position financially.”source ↗
“In reality, I keep using my employer’s wage advance facility to cover direct debits before payday.”source ↗
“I feel exhausted and overwhelmed, and I need to fix this before it gets worse.”source ↗
Where this came up
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- 2Is debt relief better than bankruptcy after gambling losses?
- 2How to handle massive debt while still in school