Hi guys, so I'm at the limit of my overdraft and have a few debts and very little income. I have a motorbike that I used to use (until my cbt expired) It's been unused for around a year now as I cant afford to retake my cbt (£180) plus insurance, tax, fuel and wear and tear.
By selling it I can clear my overdraft and have money left over, enough to clear some of my debts outright and I'd actually be able to survive better of the little income I have.
By keeping it I can struggle for months to get the spare money to legally ride it again, and then have to opportunity to find work further afield. (My work coach and my mental health support worker both agree I'm not mentally stable enough to work at the moment).
When I speak to family about it they tell me that "That's a f*cking stupid idea!" And they just start shouting at me.
I really feel like my options are: sell it and regain financial stability. Or keep it for another year unused for another year and remain financially trapped at the limit of my overdraft.
Is it worth selling or am I actually being stupid?
original posted by Tygrimus to r/personalfinance on Wed, 06 Mar 2024 13:45:45 GMT.