indigowarrior baby steps.

indigowarrior · 13 February 2018 at 11:43PM

I have attempted these dairies in the past and haven't done well. Usually my enthusiasm wares thin quickly.

My current situation at the moment is that I am disabled and live in my godfathers spare room. My living costs are low but I am running against the clock and will have to find somewhere new to live in the next year.

The issue with that is that I am not in work and not able to consider working at the moment due to ill health. I have kept a close eye on rents in the area (Somerset) and I am priced out. Majority of landlords are not willing to consider DSS tenants.

I know that I am going to have to move out the area. I also dont have anyone willing to be a guarantee (Godfather owns his own house but isnt in paid employment and his only income is my rent)

Also added to the situation is that I am under the age of 35 and will only get shared room rate Housing element. I also owe 17k in debt.

So my plan is to save up a deposit for a place to rent in area far from where I live. Whilst I am doing that try to pay off some of debt.

indigowarrior · 13 February 2018 at 11:52PM

My plan for Feb 2018-Jan 2019

:j Do the frugal living challenge (Can find this on DFW board) Which is to live on £4K a year not including rent.
:j Save up for a deposit, six months rent, moving fees and bond.
:j Begin minimum repayments on all debts.
:j Start working on mental health

So that's it for now.

shabbychic12 · 13 February 2018 at 11:55PM

We all hv to start somewhere and at least you have a plan which if half the battle working out what can be done. I wish you luck you will do it

indigowarrior · 14 February 2018 at 9:18PM

My Planned Spending for this year is:
Food £1872 £156 monthly
Electric £440 £40 monthly
Subscriptions £71.88 £5.99 netflix
busfairs 198 £16.50 monthly
Eating Out £120 £10 mpnthly
Clothing £200 £18 monthly
Gifts £100 (I will be spend the bulk of this in the next few months.)
Internet, Phone and Mobile. (They are all with the same company) £418 £34 monthly
Sundries £100 £8 monthly
Take away £180 £15 monthly
Entertainment £220 £20 monthly

£4000 divided by 12 is £333
This doesn't include rent.
My total planned expenses come under that.

indigowarrior · 15 February 2018 at 5:00PM

Got a refund on my subscriptions. £20.47 kicks off my rental deposit fund.

indigowarrior · 16 February 2018 at 7:10PM

Today was a successful day!
Food
Today was
Breakfast 50g Porridge £0.07
Lunch was to bean and cheese melts. £0.50
Dinner was a free pizza thanks to Martin.:money:

Snack was 2 cadbury creme eggs (2 packs for £2) works out to be 20p an egg. £0.40

Savings
£1 in my savings jar that I found behind my telly. :rotfl:
£1 in my savings account.

So good day!

beanielou · 16 February 2018 at 8:00PM

Happy shiny new diary

indigowarrior · 17 February 2018 at 6:13PM

Thank you Beanielou!
Sold £270 worth of stuff. I immediately put £140 in to savings! That takes me up to £165.41.

indigowarrior · 18 February 2018 at 1:03PM

I have totted up my debt and once lowells website is back up I am going to set up token payments on my account. The only one I havent set up minimum payments with is my CCJ.

Currently I have done an estimate snowball and I will be debt free in 2022

indigowarrior · 18 February 2018 at 7:04PM

Today I began envelope budgeting again. I have attempted to do it in the past but, didnt plan and usually fell at the first hurdle.

The aim is to spend money only in those envelopes (except direct debits.) Every month I plan to make a budget and I will allocate spending to these envelopes. Once the envelope is empty thats it. I am not allowed any more takeaways. If I wanted another take away I would have to "borrow" from one of the envelopes.

I have six categories which are Food, Entertainment, Take Away and Sundries, Transport budget and an eating out budget but, I forgot to get a plastic envelopes for them.

I bought the envelopes from Tesco for £0.60 each. I am sure someone else can find them cheaper.

The plan is if there is any money left in my food budget at the end of the month then that will mean I can withdraw less the next time. My payment cycle is 21st of the month to the 20th.

If you dont feel comfortable having large amounts of cash on you then you can do this electronically.

My budgets for each categories is as follows:
Food- £150
Sundries- £10
Take Away- £15
Entertainment- £20
Transport- £18
Eating Out- £10

Also I feel its a great way to encourage saving. Say for example I want a computer game and it costs £35 (I would look to find it cheaper elsewhere first) I would have to wait 2 months.

The balances of each envelope stand at:
Food- £150/ £117
Sundries- £10/ £10
Take Away- £15/ £15
Entertainment- £20/ £20
Transport- £18 /£18
Eating Out- £10/£10

indigowarrior · 18 February 2018 at 11:56PM

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 1
Number of children in household.........
Number of cars owned....................

Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 0
Benefits................................ 861.58 Currently claiming UC, on LCWRA.
I havent included my DLA as am waiting for decision on my PIP claim
Other income............................ 0
Total monthly income.................... 861.58

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 250
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 40
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 10 The Telephone, mobile and internet are in one package
Mobile phone............................ 10
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 10
Groceries etc. ......................... 155
Clothing................................ 20
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
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......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Sundries................................ 10
Total monthly expenses.................. 515

Assets
Cash.................................... 20
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 20

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Perfect Home...................361.......92........0
lowell.........................10856.....90........0
Total unsecured debts..........11217.....182.......-

Monthly Budget Summary
Total monthly income.................... 861.58
Expenses (including HP & secured debts). 515
Available for debt repayments........... 346.58
Monthly UNsecured debt repayments....... 182
Amount left after debt repayments....... 164.58

Personal Balance Sheet Summary
Total assets (things you own)........... 20
Total HP & Secured debt................. -0
Total Unsecured debt.................... -11,217
Net Assets.............................. -11,197

Created using the SOA calculator at https://www.stoozing.com.
Reproduced on Moneysavingexpert with permission, using other browser.

indigowarrior baby steps.

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