We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Really wannabe a debt free wannabe!
Comments
-
What is the situation with your living arrangements once the baby arrives? Because if you had to find a privately rented flat, you could be looking at £400 for rent, £100 for gas/electric, £100 for council tax. I think you both need to sit down and look at the possibilities - you need to start saving NOW and and watching every penny while Don is still earning. Does she get maternity pay?
The car loan and the bike loan - are they both essential? Is there any possibility of selling and paying off either of these to get something cheaper?
We are looking into the living arrangement for when the baby arrives and so far to be honest we are stuggling to find something, so the most likely option is council housing, but that is never guaranteed.
Currently I work 20 miles from home and don works 10 miles from home. so if you can think of a cheaper option then you are more then welcome to. suppose we cud trade donnas car in for something cheaper, older and slightly bigger (she has a KA) but I doubt we would get a good price for it so this wont help the situation.0 -
Quick update with things, a month on from the original post.
Finally managed to get donna to give up one of her mobiles so that has reduced our costs a little bit.
I have had a couple of interviews at don's work place with a job offer looking possible, which would really help as it is 3k more a year and then I can sell my motorbike and that will save us 70 a month and whatever the sell of the bike brings in.
I also have an interview on thursday again for a job that pays 3k more but this one is still 20miles in the wrong direction but it is a back up to the one at don's which is the one that i want.
Anyway the next thing is stop our guilty pleasure which is smoking but that isnt going very well. Dunno why it isnt probably because what with everything stressing me out it is my only relief, (poor excuse i no)0 -
HIya, it's hard to do everything at once, and having a lightbulb moment and drastically reducing spending is not at all easy - spending is addictive!
Take it one day at a time.
There is a stop smoking support board on here, I'll go and find the link and post it here:)Personal challenge: Do without as much as possible to pay off £12k by 07/2009!!!:T
Bluejeans Challenge: Spend less - Eat less! Need to lose [STRIKE]4 [/STRIKE] 2.5 stone (:eek:) then maintain until my concert in Dec!!
Cady's jam jar challenge.. how much will be in the pot?!
Budget: a mathematical confirmation of your suspicions.0 -
http://forums.moneysavingexpert.com/showthread.html?t=445572&highlight=smoking
It's a long thread, so might be easier to skip to the end and introduce yourselves, I'm sure they'll all give you some great support:) xxPersonal challenge: Do without as much as possible to pay off £12k by 07/2009!!!:T
Bluejeans Challenge: Spend less - Eat less! Need to lose [STRIKE]4 [/STRIKE] 2.5 stone (:eek:) then maintain until my concert in Dec!!
Cady's jam jar challenge.. how much will be in the pot?!
Budget: a mathematical confirmation of your suspicions.0 -
Its best if you post an full SOA, but really food shopping, mobile & fuel are the quickest and best ways to cut your spending. Check out the Old Style board on this forum
It can be done if you both are serious about it, but my lord is it hard
Giving up smoking will save you both a complete fortune, and Don needs to be giving up smoking now :eek: . Being pregnant & smoking is extremely dangerous
0 -
first of confgrats on te imminent arrival
one thing that did jump out at me, why is dons fuel £100 more than yours yet she works closer to home????
oh and good luck on the interviews, fingers crossedIf we can put a man on the moon...how come we cant put them all there?
0 -
SOA below is what it currently is and the one below that is what it should be once i get my new job. It says we have a surplus but I dont see it every month, might be becuase we pay off more then the min payment.
Statement of Affairs and Personal Balance Sheet
Monthly Income Details
Monthly income after tax................ 1118
Partners monthly income after tax....... 860
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1978
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 250
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 65
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 170
Clothing................................ 10
Petrol/diesel........................... 200
Road tax................................ 10
Car Insurance........................... 80
Car maintenance (including MOT)......... 10
Car parking............................. 8
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 12
Presents (birthday, christmas etc)...... 10
Haircuts................................ 0
Entertainment........................... 100
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 925
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 5000
Other assets............................ 1000
Total Assets............................ 6000
No Secured Debt
Unsecured Debts
Description....................Debt......Monthly...APR
Car loan (Don).................7000......121.......0
Bike loan (Dan)................2000......100.......6.4
Personal Loan (Dan)............9000......156.......6.9
OD (Don).......................300.......0.........0
OD (Dan).......................100.......0.........0
Lloyds (Don)...................1100......40........16.9
MBNA (Don).....................2000......80........16.9
Mint (Dan......................250.......10........17.9
Captial One (Dan)..............850.......25........21
Argos (Don)....................500.......10........0
Argos (Dan)....................300.......5.........0
Loan (Don).....................3000......85........6.9
Total unsecured debts..........26400.....632.......-
Monthly Budget Summary
Total monthly income.................... 1,978
Expenses (including secured debts)....... 925
Available for debt repayments........... 1,053
Monthly UNsecured debt repayments....... 632
Surplus(deficit if negative)............ 421
Personal Balance Sheet Summary
Total assets (things you own)........... 6,000
Total Secured debt...................... -0
Total Unsecured debt.................... -26,400
Net Assets.............................. -20,400
If i get that new job......
Statement of Affairs and Personal Balance Sheet
Monthly Income Details
Monthly income after tax................ 1300
Partners monthly income after tax....... 860
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2160
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 250
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 65
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 170
Clothing................................ 10
Petrol/diesel........................... 200
Road tax................................ 10
Car Insurance........................... 80
Car maintenance (including MOT)......... 10
Car parking............................. 8
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 12
Presents (birthday, christmas etc)...... 10
Haircuts................................ 0
Entertainment........................... 100
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 925
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 5000
Other assets............................ 1000
Total Assets............................ 6000
No Secured Debt
Unsecured Debts
Description....................Debt......Monthly...APR
Car loan (Don).................7000......121.......0
Bike loan (Dan)................2000......100.......6.4
Personal Loan (Dan)............9000......156.......6.9
OD (Don).......................300.......0.........0
OD (Dan).......................100.......0.........0
Lloyds (Don)...................1100......40........16.9
MBNA (Don).....................2000......80........16.9
Mint (Dan......................250.......10........17.9
Captial One (Dan)..............850.......25........21
Argos (Don)....................500.......10........0
Argos (Dan)....................300.......5.........0
Loan (Don).....................3000......85........6.9
Total unsecured debts..........26400.....632.......-
Monthly Budget Summary
Total monthly income.................... 2,160
Expenses (including secured debts)....... 925
Available for debt repayments........... 1,235
Monthly UNsecured debt repayments....... 632
Surplus(deficit if negative)............ 603
Personal Balance Sheet Summary
Total assets (things you own)........... 6,000
Total Secured debt...................... -0
Total Unsecured debt.................... -26,400
Net Assets.............................. -20,400
The amounts shown for the loans are the original amounts my loan has about 2.5years left to run on it donnas is about the same, the car loan has 3.5years to run and the bike loan is really a credit card in my parents name with a life of balance rate. I cant believe it says we have that much at the end of the month because we dont......
Help??????????0 -
lincsdan86 wrote: »Statement of Affairs and Personal Balance Sheet
Monthly Income Details
Monthly income after tax................ 1118
Partners monthly income after tax....... 860
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1978
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 250
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 65
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 170
Clothing................................ 10 Are you sure this is all you spend? If money is disapearing; start keeping a spending diary !
Petrol/diesel........................... 200
Road tax................................ 10
Car Insurance........................... 80
Car maintenance (including MOT)......... 10
Car parking............................. 8
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0 Cough sweets, cold remedies, prescriptions - are you sure this is 0?
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 12
Presents (birthday, christmas etc)...... 10 I used to spend more than this, it's somewhere money can go when you dont realise
Haircuts................................ 0 both bald?
Entertainment........................... 100 This is quite high on top of groceries? OH and I spend £200 pm on groceries and entertainment, and that's higher than others on here!
Holiday................................. 0
Emergency fund.......................... 0 There should be something for this
Total monthly expenses.................. 925
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 5000
Other assets............................ 1000
Total Assets............................ 6000
No Secured Debt
Unsecured Debts
Description....................Debt......Monthly...APR
Car loan (Don).................7000......121.......0
Bike loan (Dan)................2000......100.......6.4
Personal Loan (Dan)............9000......156.......6.9
OD (Don).......................300.......0.........0
OD (Dan).......................100.......0.........0
Lloyds (Don)...................1100......40........16.9
MBNA (Don).....................2000......80........16.9
Mint (Dan......................250.......10........17.9
Captial One (Dan)..............850.......25........21
Argos (Don)....................500.......10........0
Argos (Dan)....................300.......5.........0
Loan (Don).....................3000......85........6.9
Total unsecured debts..........26400.....632.......-
I've just picked above a couple of things that popped out at me, I truly dont mean to offend:) I know last month we had 4 birthdays we forgot about and ended up nipping out to buy presents; hair cuts pop up and you forget you can easily spend £50 between the 2 of you these days!
I'm sure others will be along to comment on it as well, and give more practical advice on the debt.
All the best xxPersonal challenge: Do without as much as possible to pay off £12k by 07/2009!!!:T
Bluejeans Challenge: Spend less - Eat less! Need to lose [STRIKE]4 [/STRIKE] 2.5 stone (:eek:) then maintain until my concert in Dec!!
Cady's jam jar challenge.. how much will be in the pot?!
Budget: a mathematical confirmation of your suspicions.0 -
Clothing - we dont really spend anything on clothing, if we need something then normally we get it but that could be months inbetween.
Medical - Must of missed that one lol, but that normall wud be in the shopping as we dont use much.
Presents - with money being tight we dont normally buy presents, normally a card with £5 in it for the brothers and sisters.
Hair cuts - Im a grade 2 all over and my dad does it and donna does her own hair.
Entertainment includes fags which is why it might be high :-)
We wud put some money into an emergency fund if we had any.
I want to keep a spend diary but i dont think id keep it updated :-(0 -
first of confgrats on te imminent arrival
one thing that did jump out at me, why is dons fuel £100 more than yours yet she works closer to home????
oh and good luck on the interviews, fingers crossed
Sorry webitha I missed your post.
the reason don's fuel is so much more then mine is because i ride a motorbike and get around 90 miles to the gallon and her ka doesnt do so well lol.
Thanks0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.8K Banking & Borrowing
- 253.4K Reduce Debt & Boost Income
- 454K Spending & Discounts
- 244.8K Work, Benefits & Business
- 600.2K Mortgages, Homes & Bills
- 177.3K Life & Family
- 258.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards