Confessions of a 27 year old in £13'500 worth of debt !!!

OnwardAndUpward81 · 3 February 2009 at 12:53PM

Hiya

Every couple of months I log onto here to get some advice and support. If you read through my previous posts, my debts have decreased substatially.

I'll give an update of my outgoings and you guys can tell me how you think I'm doing. Any tips, I would be very grateful. Here goes:

Monthly pay - £1420

I live in a flat with my partner so we split the rent, council tax, tv licence, food shopping and electric.

Monthly outgoings-

Rent £315
Electric £16
Council tax -43.50
Petrol £50 ( I paid my car inusrance in full last month)
Mobile - £30 (unlimited texts and unlimited internet access)
Loan- 493
Work Union - £8
houshold shopping monthly- £60 approx (shopping is twice a month, I pay £60 approx, then the next time partner pays £60 approx)

quarterly outgoings

tv licence - 17.06
water - unsure as haven't received a bill yet, moved in flat Nov '08

Debts owed-

Credit card - 1400 (my card is 0% interest at the moment, I also decreased the limit to £1500)
Loan - 11080
O/D- 1000 (my o/d is 0% interest)

Is there anything else I need to add and I'll amend it, or anything that doesn't make any sense.

bryanb · 3 February 2009 at 12:57PM

How do you manage £60 p.month shopping? Does this include food?

OnwardAndUpward81 · 3 February 2009 at 1:00PM

Sorry, I should have said it's £120 between us. I'll add that.

GeorgeUK · 3 February 2009 at 1:04PM

Have you tried using the statement of affairs calculator? It is a great tool and has just about everything you could need. Waster rates, council tax, insurance?

http://www.makesenseofcards.com/soacalc.html

OnwardAndUpward81 · 3 February 2009 at 1:06PM

Thanks George. I'm going to use it now

Merlinexcalibur · 3 February 2009 at 1:09PM

I shouldn't worry about your debt. I say 'jovially'. I'm 'mortgaged' for life to my student loans taken out between 1993-95. And the rest of the debts that come with 'modern living'. Can't repay them, never earned that much pcm and probably never will.

shazzer22 · 3 February 2009 at 1:18PM

Afternoon Miss Debt, I'm 26 and got about double that, know its not much help but it always make me feel better when I know people are in the same situation...

How much do you spend on going out/clothes/holidays/hobbies?

When your car tax is due for renewal do you just pay it from that months salary (like me!) or do you budget for it across the year?

I really didn't think I spent a great deal on food but when I started adding up all the 'quick pop down the shops' for some butter or milk (add in magazine and lottery scratchcard etc etc) I was amazed that more than half my spend was on rubbish I didn't really need!

Have a look at spendingdiary.com, I love it coz I hate having lists of spending lying around my boyfriend can nose through!

shazzer22 · 3 February 2009 at 1:20PM

PS - Is your council tax included in your rent?

OnwardAndUpward81 · 3 February 2009 at 1:31PM

OMG! You're so right I just used the spending diary just for today. This my day so far.

I didn't drive as I was bit scared because of snow. So I took the bus (£1.00), only to find my manager told me to go home. So on the way home I bought a stir fry pack for tonights dinner (£1.00) and then it's my nephews bday this friday so I bought a card and pressie (£11.49). Another £1 for bus home and then when I got home I ordered a valentine pressie for my partner (£8.45).

That's £22.94 and it's only 12.30!

OnwardAndUpward81 · 3 February 2009 at 1:34PM

no I'm going to add c.tax, tv licence to original post and not sure what water rates is yet as we haven't lived here for long so haven't had a bill.

Confessions of a 27 year old in £13'500 worth of debt !!!

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