Going to start to pay of my debt very slowly but very steadily though... :)

I have roughly £7,000 creditcard debt currently.

Previously i just totally ignored this debt, as i was so so swamped daily by money worries due to being self employed and the nature of my job,
and so i just didnt have the energy of will deal with it.


However i have recently changed careers, and have gone back to the original career route that id always planned and wanted of working in the police force/security service.

I was extremely fortunate to manage to get an 'on the job training+external training, with starting on a salary after 1st month but with continued on the job training for the following 6months' job placement in the Public-Security-Service.
(Only managed it due to a school connection between the bosses daughter and my old school)

But i am extremely grateful to have managed to get it. :T:beer:



However even though in this job i do work alongside the police force constantly daily, as our department specilaises in CCTV operation and surveilance,
all i actually do is basically co-ordinate PCs and PCSOs through radio to where they are needed,
and once trained will occasionally do on-foot surveilance of people when needed for specific operations.

Its not the same as working in the uniform police force and having all the hands of physical policing aspects, which is what i would want for my career.



Im trying to get into the uniform police, however to pass vetting they will look at my financial background and will reject me unless it shows that im managing any debts i have... :(


So ive decided that im going to stop ignoring these debts and just waiting for them to eventually be written off,
and instead (providing on 9th may once ive sat the 1st test for this job and pass and so then start the official paid employment from then/and that my currently on-going security checks clear),
i will am going to start making a regulary weekly payment to start clearing this debt. :A


I am going to do it very slowly...
as ive had constant financial stress everyday for nearly 3years now due to being self-employed,
and so now that im finally in a normal salaried employment im not going to rush in and give all my income away and have nothing as savings,
just to endup getting made redundant in 6months and then being totally screwed by having no money saved up there.

But i am going to set it up as a weekly direct debit, not monthly,
so it will be a constant steady flow of money being seen to being paid out by me atleast though.




Im not 100% sure on the exact numbers just yet, as i haven't been put on the rota yet to see how many days per week il be able to work.

Its a 24/7 agency though, with 12hour shifts from 7am-7pm, 7pm-7am.
And the starting pay rate is just over £9 per hour (not sure if its high if you do night shifts).

So im going to ask if i can do a standard 5day week (try getting monday-friday), so 60hours per week, and do 3weeks of days/1week of nights per month.
(Ive been guaranteed ultimate min 40hours by the boss already).



So providing i can do a basic 5day week il be earning-
£26,500 per year.

However now that il have to pay tax and NI il only get to keep the following-
Gross Pay= £26,580.00 / £2,215.00 / £511.15
Net Pay= £20,263.85 / £1,688.65 / £389.69


So each month il only actually get to keep £1,688 of the cash i earn!! :mad::mad::(




My monthly living expenses (factoring in added job 1s) are-

Rent = £675
Electricity = Roughly £40
Council tax = £66
BT line rental needed to get internet = £12
02 sim-only mobile contract = £23
Sky Internet+TV+6movie channels = £36
Food = £205
Alcohol = £160
Travel (work+leisure) = £120 + £35
Other household essentials = £30
Cleaner = £40
Haircuts (x2) = £16 total
Contact lenses = £35
_______________________________________
£1,493 per month total



So with my after taxes monthly salary being just £1,688,
i will only have £200 safety-money each month that i can use as savings.

So the ultimate maximum i can afford to risk paying out to the bank each month is £50.
Which will leave me with extremely little flexibility in my income/expenditure.



But so if i break that down to just £12.50 per week, that makes it alot more manageable and less daunting for me.
+Even though i wont notice £12 less in my wallet each week, it will add-up to very reasonable £50 per monthly repayment.




And im going to try using some cash to dabble in the old stockmarket trading again now too to try adding a few hundred quid extra per month to my bank account...

I survived of that as my sole income for the last 11months, and only had a few thousand capital in my account most of the time, with all the stress n pressure to earn or be homeless on me
So now that theres no pressure to 'have to earn' from it now i should be able to do reasonably well, even though since i wont be able to trade intra-day anymore im not expecting to earn like i used to.

But a few hundred quid extra per month (catching 3dollars worth of movement of crude oil, with the month to wait for the perfect entry) and il be very very please.




I also used to do those £2 per day for writing a review of a hotel,
£2 per day doesnt sound much, but there were 2sites that offer it so £4per day x 30= £120 extra cash per month for me for just 4mins of typing per day.

And i still own my shipping company, that even though we dont really get many orders per month and the 1s we do are usually quite small,
it costs me nothing to keep the business in operation and can quite easily bring in £50 t £200 extra per month if i have a lucky month with a few 30KGs+ orders.



Does anyone else have any tips on how they earn some extra cash though?? :A





*Il try and keep this thread updated daily/weekly with how my repayment fund and savings funds are coming along*