Ready To Do This

catandy · 25 January 2017 at 12:36PM

Ok this is second attempt at getting debt free - I got into trouble supporting partners failing business and keeping both my family unit and his extended family financially off a shaky income from self employment that had times of plenty and times of nothing.... I had 2 sons approaching the end of their time at college neither of whom had part time jobs and both of whom lived at home....

fast forward 3 years and my situation has settled somewhat - I have been in an employed job for 3 years now and earn well at it - 40/50K for the last 2 years (I earn commission on top of wages which is why it varies to such a degree). 'Partner' still lives in the same house as me but I am not so sure for how long and if indeed we are still together. I have stopped supporting his family except small token payments for xmas and birthdays. my oldest son has moved out and is living in a house share and just about getting by with on his own and my youngest has a freelance job and is still at home.

add to that I'm still 30k or so in debt (from an original figure of 34.5) and you can see to date I haven't really made any headway at all. I'm doing a self managed dmp using NEDCAB and have been making nominal payments to everyone to date - clearing priority debts of rent / council tax and WTC overpayments oh and replacing stuff that was on its last legs - like a bed, cooker, fridge and so on..

now its time for me to get my head down and start clearing some of these debts completely with settlement figures so I can get straight once and for all. its also do or die time with partner/ his family as he basically refuses to look for work... he finished treatment for cancer about a year ago and got the all clear and since then has held down 2 self employed jobs for a total of 6 weeks between them - each of those jobs cost as much to do as he earnt with spends on petrol/ training courses and smart clothes for work. He also drops it into conversation every so often that his kids need x or y paid for - I've started saying no or ignoring him which is a turnaround from the feeling like im being used and then coughing up and paying it anyway..

ok I think that's enough of an essay to start with... I will get figures on everything that is owed for next time.

catandy · 25 January 2017 at 1:09PM

Expenditure each month stands at

Rent 423 (arrears are clear)
Council Tax 92 (arrears clear and payment start again April)
Water 41 (payment start again April
Electric 90 (on prepayment meter and I don't have gas - this comes down to around 60 during the summer months)
Pre Payment Certificate - 12 (for OH medications - he should pay for this himself so depending on what happens this may stop)
DMP - 10 (currently making nominal payments to all creditors - need to start clearing some with settlement payments)
Car Insurance - 73 (I currently pay to have 2 cars on the road, I bought myself a rust bucket runaround when partner went back to work as he needed the bigger car (which accounts for almost 6k of my debt and is registered in his name... go figure). he doesn't work anymore and I now work from home in my position so time to get rid of some of this expense
car tax - currently 44 for 2 cars
petrol - has been as much as 160pm for both cars needs to cut down
tv license - currently 24.50 as only just started paying it as we didn't have a tv for years
internet/ tv package - 35 pm
mobiles - 45 - I don't have a mobile, partner is on 5£ package pm from giffgaff and somehow I still pay for youngest sons fone contract at 40pm.... need to get this one sorted as well
food/ toiletries etc - 400 pm - sometimes a bit more or less depending on the month
clothing - 0 - bought as and when needed
gym - 32 - I cover the cost of my youngest sons contract as well as mine - this is also something I need to get sorted...
prepaid credit card - 50 - this is a cashplus card and I have 95£ of an overdraft left on it which needs to go asap
emergency fund - 50 - first time I have ever had one of these and I want to build it up to 1k and then leave it in an account that I don't touch till I need it - currently at 300 so a way to go...
lends that I never get back/ ad hoc purchases for my kids/ oh kids and grandkids - 200pm - yep this needs to be cut back drastically.

I make that total living expenses 1730 or so a month with quite a few areas I need to cut down on.

catandy · 25 January 2017 at 1:19PM

first look at what I can get rid of / should cut out

OH pre pay certificate 12
car insurance and tax for my car 46.96
petrol - not sure how much this is going to be
mobile contract for son - 40
gym contract for son - 16
spends/ lends - 200

total 314.96 .... I only picked up £2320 in wages this month (lighter than it has been as of late) I need to reign it in big style that accounts for 13% of my income!

catandy · 25 January 2017 at 1:27PM

mot is due on the car that I drive first of next month so its time to get rid of that - it will be sold for scrap so not likely to get anything for it - but at least I will be saving tax/ insurance and petrol on it so that's my mission this weekend - to get that sorted out

Drawingaline · 25 January 2017 at 2:11PM

Welcome. You certainly sound determined, good luck.

Peabody_2 · 25 January 2017 at 2:58PM

Good luck at cutting back

remember every little helps

catandy · 25 January 2017 at 3:42PM

thanks both and yes it all does add up doesn't it

and ive just sold my car for scrap for £68 (weird amount!) so now I need to cancel car tax and insurance DD's so they don't come out of my account next week.

catandy · 25 January 2017 at 3:47PM

and of course at some stage I need to speak to my son and OH - son about him starting to contribute to living expenses at home and OH about finding a job, holding it down and contributing. I fear my son has learnt from OH as he has seen him not work for years and not pay into the living expenses so I guess he thinks its acceptable. I'm really not looking forward to these conversations but I have to draw the current situation to an end - for my sanity and to give me a chance to move ahead once and for all.

catandy · 26 January 2017 at 10:10AM

In the office today to find out what changes are being made to my job .... which has been an on-going process since my manager left last year and a constant source of frustration. Hopefully today I get some closure as it all becomes clear (but I'm not holding out too much hope on this). This means I am in the office today so may have to purchase lunch (sometimes it's provided) - given myself a maximum of £2 as I'm supposed to be on a diet.

I'm backing myself up with regards to my job situation I have an interview next Tuesday, I also have my first session with a counsellor, I was sent to them by work over a year ago to help with self esteem/ confidence and it helped but now im back where I was so I'm going back for a couple of sessions to try and give myself a boost. this works out at £35 per hour so I've set aside £100 for this indulgence .... maybe I need some friends, or a dog, or a partner that I can have a conversation with instead of paying a stranger but oh well life is what it is.

and the only other excitement today is I need to do a food shop as we are running on empty. off to ald! as I find its best value - son away for the weekend so that helps keep the price down a bit away - he works most weekends and goes on Friday and turns up again either Monday or Tuesday - he wrestles for a living so its a bit of a weird way of making a living but for now it works for him.

oh well better crack on - the morning rush hour awaits!

catandy · 26 January 2017 at 5:18PM

just been told I am at risk of redundancy by work - yay - don't you just love it!

catandy · 27 January 2017 at 9:35AM

so after the bombshell of me being told I'm under threat of redundancy its another day and life goes on just the same. I've got my first consultation meeting with my employer a week yesterday when we discuss the options open to me - they have already told me there are no alternative vacancies open at the moment so it seems it is time for changes even though I was quite settled - oh well these things happen...

my car needs to be collected now more than ever so I can get that money and then cancel the associated tax/ insurance on it - more savings. and I need to have that conversation ref finding work with my OH and son asap and them be given gentle but ongoing kicks up the butt to actually follow thru and do something....

Ready To Do This

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