Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search

Results: Which step should I take next?

Get rid of stored furniture (? costs involved, but paperwork re big debt in there)

62.86% • 22 votes

Piggybanking

0% • 0 votes

Work out my exact household expenditure

28.57% • 10 votes

Drop household maintenance? (Nothing needs doing at present)

2.86% • 1 votes

Get water meter to save poss. 75 per year

14.29% • 5 votes

Other (please specify in comment box - ty)

11.43% • 4 votes

You may not vote on this poll

35 votes in total.

  • FIRST POST
    • miracleworker
    • By miracleworker 14th Sep 16, 4:24 AM
    • 9Posts
    • 26Thanks
    miracleworker
    Plodding Through Debts
    • #1
    • 14th Sep 16, 4:24 AM
    Plodding Through Debts 14th Sep 16 at 4:24 AM
    MONTHLY ACCOUNTS

    INCOME

    Benefits. . . . . . . . . . . . . . . . . . . . . . . . . . . ............541.46

    EXPENSES

    Fixed Direct Debits
    Debt Repayments........................................ ..........29.43 - Jan '17 only
    Water . . . . . . . . . . . . . . . . . . . . . . . . . . . ... ............23.49
    Contents Insurance......................................... ........6.20

    Variable Direct Debits
    Electricity . . . . . . . . . . . . . . . . . . . . .. . . . . . . .........37.92 - after Warm Home Discount
    Phone and Internet. . . . . . . . . . . . . .. . ...................25.57 - average with current supplier over last 6 months

    Variable Card Payments
    Food, Household and Toiletries.............................140.00 - average over last 6 months
    Miscellaneous..................................... ....................10.00

    Not Allocated
    Not allocated......................................... ..............268.85 - starts Feb '17

    TOTAL INCOME............................................ .......541.46
    TOTAL EXPENSES........................................... ....541.46

    -----------------------------------------------------------------------------------------------------------------------------------

    Expenses made from capital:-

    Mobile Phone: 110 for phone from China, with 5 SIM and free service, from Freedom Pop.
    Gym Membership: 132 paid up-front for 12 months = 2.54 per week, with Fitness4Less (Christmas offer).

    What happened to the stored furniture?

    It's piled up in my flat.

    -----------------------------------------------------------------------------------------------------------------------------------
    Last edited by miracleworker; Today at 2:27 PM. Reason: WIP
Page 1
    • thriftylass
    • By thriftylass 14th Sep 16, 4:29 PM
    • 2,742 Posts
    • 22,267 Thanks
    thriftylass
    • #2
    • 14th Sep 16, 4:29 PM
    • #2
    • 14th Sep 16, 4:29 PM
    Statement of Affairs and Personal Balance Sheet

    Fortnightly Income Details

    Benefits. . . . . . . . . . . . . . . . . . . . . . . . . . . ...... . .. 250.10 (I guess you don't live on your own, and can't work, or are looking for work, setting up business etc, sorry just guess other people will ask too)

    Other Possible Fortnightly Income Details

    Selling toilet rolls on eBay. . . . ...................................4.00 (for real?)
    Turn off hot water every other day. . . . . . . . . . . . . . . 2.50 ( bath, and one wash-up at end of 'on' day)
    Sharing expenses of online courses . . . . . . ..........13.39 (I'm allowed 3 other people)


    Fortnightly Expense Details

    Account 1 - bills on D/D - ALREADY OPEN
    Home phone and broadband . . . . . . . . . . . . .. . ...... . . 8.22 (2.20 after cashback)
    Electricity . . . . . . . . . . . . . . . . . . . . . . . . . . . . ........ . .19.40 (15.46 after Warm Home Discount)
    Water . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . ......... . .10.85
    Home insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.10
    Furniture Storage . . . . . . . . . . . . . . . . . . . . . . . . . . . .37.87 (is there anything you could sell, are you very attached to some item?)
    Fitness/Sports/Gym. . . . . . . . . . . . . . . . . . . . . . . . . . .19.40 (could you just go running or do sth else free)
    New clothes: D/D to credit a/c . . . . . . . .. . . . . . . . . . ... 2.31
    Online courses. . . . . . . . . . . . . . . . . . . . . . . . . . . . .... . 13.39 - immediate business oriented
    Debt Repayments . . . . . . . . . . . . . . . . . . . . .. . . . . . . .4.02
    + 37.87 when I've got rid of furniture
    + 19.89* ad hoc
    61.78 total debt repayment possible


    Account 2 - savings, then card payments - ALREADY OPEN
    New clothes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ... . .10.00
    Hobby - photography. . . . . . . . . . . . . . . . . . . . .. . . . . . 2.00
    *Ad hoc debt repayments. . . . ....... . . . . . . ..... . . . . . .19.89

    Account 3 - ISA - savings, then cash withdrawal
    Birthdays . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. .. . ... . .3.85 = 100.01 per year
    Winter holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.02 = 260.52 (not sure that is a priority just now)
    Summer holiday. . . . . . . . . . . . . . . . . . . . . . . .. . . . . . 10.02 = 260.52 (not sure that is a priority just now)
    Christmas . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . .. 7.96 = 206.96

    Account 4 - ordinary savings account - cash withdrawal
    Food and household shopping . . . . . . . . . . . . . ..... . . 70.00 = 35.00 p/wk (testing this, this week)
    Eating and drinking out. . . . . . . . . . . . . . . .. . . . ... . . . . 6.92 = 2 meals pcm @ 7.49 ea (not sure that is a priority just now)
    Coffees/Sandwiches/Snacks . . . . . . . . . ... . . . . . . . . . .8.00 = 4.00 p/wk (not sure that is a priority just now)
    Walking trips . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . ..2.77 = 1 bus fare pcm at 6.00


    Total Fortnightly Income. . . . . . . . . . . . . . . . ... . . . . . 250.10
    Other Possible Fortnightly Income. . . . .. . . . .... . . . . ... 57.76
    Total Possible Fortnightly Income. . . . . . . . . .. . ........... .307.86


    Total Fortnightly Expenses. . . . . . . . . . . . . . ... . . . . . 250.10
    Other Possible Fortnightly Expenses. . .. . . . .... . . . . ... 57.76
    Total Possible Fortnightly Expenses. . . . . . . .. . ........... .307.86
    Originally posted by miracleworker
    See my comments in red. Hope it didn't sound too harsh, well meant
    • thriftylass
    • By thriftylass 14th Sep 16, 9:39 PM
    • 2,742 Posts
    • 22,267 Thanks
    thriftylass
    • #3
    • 14th Sep 16, 9:39 PM
    • #3
    • 14th Sep 16, 9:39 PM
    How much debt do you have? Have you tried surveys like Valuedopinions to earn vouchers like Amazon for using for presents etc? Keep going! You seem quit switched on about money things.

    Another good on is qoas. Co. Uk. A postal survey. You receive letters and send them back free, they use that to test the postal sevice. I get about 10quid a month in vouchers from that. They also do paypal payout etc
    Last edited by thriftylass; 14-09-2016 at 9:51 PM.
    • iolanthe07
    • By iolanthe07 15th Sep 16, 9:58 AM
    • 4,688 Posts
    • 4,458 Thanks
    iolanthe07
    • #4
    • 15th Sep 16, 9:58 AM
    • #4
    • 15th Sep 16, 9:58 AM
    I voted 'something else' and the 'something else' was to get a job, but that was before I read about your autism, so apologies.
    I used to think that good grammar is important, but now I know that good wine is importanter.
    • tallyhoh
    • By tallyhoh 15th Sep 16, 1:20 PM
    • 2,023 Posts
    • 1,976 Thanks
    tallyhoh
    • #5
    • 15th Sep 16, 1:20 PM
    • #5
    • 15th Sep 16, 1:20 PM
    any chance of forgoing the bath & having a shower at the gym? one kettle then to do washing up.
    Tallyhoh!

    Stopped Smoking October 2000. Saved 21,840 so far!
    • Dewdrop.ja
    • By Dewdrop.ja 15th Sep 16, 2:33 PM
    • 50 Posts
    • 76 Thanks
    Dewdrop.ja
    • #6
    • 15th Sep 16, 2:33 PM
    • #6
    • 15th Sep 16, 2:33 PM
    I'm not sure if you have done so already but I would definitely suggest getting a water meter installed. Whe I did mine it was a massive saving however they told me that if it ended up actually costing me more money then I would be able to continue without it. So to me it's a win win and definitely worth! The same went for when I changed the electric and gas meters from prepayment!
    Best of luck!
    Halifax: 4765.18
    MBNA: 6843.51
    • iolanthe07
    • By iolanthe07 15th Sep 16, 3:53 PM
    • 4,688 Posts
    • 4,458 Thanks
    iolanthe07
    • #7
    • 15th Sep 16, 3:53 PM
    • #7
    • 15th Sep 16, 3:53 PM
    Water meter COULD COST SAME OR MORE, due to constant peeing, possibly due to diabetes.

    A useful tip, first offered during the 1976 drought I believe:

    If it's yellow, let it mellow
    If it's brown, flush it down
    I used to think that good grammar is important, but now I know that good wine is importanter.
    • Muttipops
    • By Muttipops 15th Sep 16, 4:03 PM
    • 267 Posts
    • 273 Thanks
    Muttipops
    • #8
    • 15th Sep 16, 4:03 PM
    • #8
    • 15th Sep 16, 4:03 PM
    Also water brick in the cistern! Cuts down amount of water used for a flush.


    Watch out with the metering; I have a feeling you can only go back to unmetered within the first year, if your bill turns out to be higher.
    • LabRatty
    • By LabRatty 15th Sep 16, 7:51 PM
    • 21 Posts
    • 35 Thanks
    LabRatty
    • #9
    • 15th Sep 16, 7:51 PM
    • #9
    • 15th Sep 16, 7:51 PM
    Hi there,
    Are you near a university dental school? They are often in search of volunteers to be treated by students. The treatment is supervised, free, and technically excellent so even if you have to travel a bit it's much cheaper than paying for treatment as well as being very interesting. Dental problems are welcomed as good learning opportunities for the students.
    • Muttipops
    • By Muttipops 15th Sep 16, 9:50 PM
    • 267 Posts
    • 273 Thanks
    Muttipops
    If you get this much done with diabetes lethargy, just think what you will be like if you have it and you get treatment, Wonderwoman!! Obviously not called miracleworker for nothing.
    • Muttipops
    • By Muttipops 16th Sep 16, 9:44 AM
    • 267 Posts
    • 273 Thanks
    Muttipops
    Miracleworker, I have seen many people on this forum use the snowballing method, so if you genuinely want to do it, I am sure there would be lots of advice on here. It seems straightforward enough, but there might be some added hints and tips to be had.


    I see you had either a late night or an early morning. I get that; I wish my brain would shut up from 10pm until 7am.
    • Muttipops
    • By Muttipops 17th Sep 16, 10:22 AM
    • 267 Posts
    • 273 Thanks
    Muttipops
    miracleworker,
    750 a month is a huge amount. Is that affordable for you?
    • Money saving maniac
    • By Money saving maniac 18th Sep 16, 5:23 AM
    • 338 Posts
    • 643 Thanks
    Money saving maniac
    Miracle worker

    For NHS dentistry there is a cap of 233.70 so you wouldn't end up paying anything like 20k for one course of treatment. A course of treatment is when you see your dentist and he says you need X, Y and Z doing, it doesn't matter how many appointments it takes to do it.

    If you are currently going private, go see a NHS dentist.

    How long have you been doing matched betting for, and how much have you made from it so far? I ask because if you enter into a DMP you are going to have to keep that payment up for years.
    If you are not already making over 700 a month from matched betting, then it is unlikely you will be able to do so.
    Last edited by Money saving maniac; 18-09-2016 at 5:32 AM.
    • pennystretcher
    • By pennystretcher 18th Sep 16, 9:34 AM
    • 257 Posts
    • 1,258 Thanks
    pennystretcher
    Hi there and welcome.

    Echoing the questions above - what furniture do you have in storage and could you sell it? If you can't sell it would someone else be able to store it for you for less money? Friends/family?

    And gym fees - do you need to spend this? Or could you stop going for a while?
    MFW Dec 2016 9500 Sep 2016 12750 Apr 2016 15500 Apr 2015 21365
    • Money saving maniac
    • By Money saving maniac 18th Sep 16, 11:54 PM
    • 338 Posts
    • 643 Thanks
    Money saving maniac
    How did you build up your debt, Miracleworker?

    You don't need to call the GP for your dental work, you just need to find a NHS dentist and register and then go and see them.

    You can find a NHS dentist here

    http://www.nhs.uk/Service-Search/Dentists/LocationSearch/3
    • Bedsit Bob
    • By Bedsit Bob 3rd Oct 16, 8:05 AM
    • 9,338 Posts
    • 48,961 Thanks
    Bedsit Bob
    Is the SOA monthly, weekly, or a bit of both?
    My job is Top Secret. Even I don't know what I'm doing.

    Amount I have so far denied the BBC - 1161
    • Bedsit Bob
    • By Bedsit Bob 3rd Oct 16, 8:42 AM
    • 9,338 Posts
    • 48,961 Thanks
    Bedsit Bob
    Actually, it would be easier for us (the other FMs) if you made it all monthly, and did a full SOA.

    http://www.stoozing.com/calculator/soa.php
    My job is Top Secret. Even I don't know what I'm doing.

    Amount I have so far denied the BBC - 1161
    • Bedsit Bob
    • By Bedsit Bob 3rd Oct 16, 8:54 AM
    • 9,338 Posts
    • 48,961 Thanks
    Bedsit Bob
    You can either edit it, or do a new one.
    My job is Top Secret. Even I don't know what I'm doing.

    Amount I have so far denied the BBC - 1161
    • miracleworker
    • By miracleworker 22nd Nov 16, 6:46 AM
    • 9 Posts
    • 26 Thanks
    miracleworker
    Debt Repayments In Progress
    INITIAL DEBTS - numbering relates to snowballing. See post below.
    (02) 086.00 for clothing. This debt was cleared 1st, due to its bearing 34.08% interest.
    (04) 177.19 for water. This debt is being paid 2nd, so I can apply for a water meter.
    (07) 370.00 for personal loan. The personal loan is being paid 2nd/3rd, as it's with the same agency as debt (04).

    REDUCING BALANCES
    (02) 000.00 clothing (CL) - cleared (34.08% interest)
    (04) 017.19 water (WT)
    (07) 330.00 personal loan (PL)
    -------------------------------------------------------------------------------------------------------------------------------------
    02/10/16 CL 05.00 - paid
    10/10/16 CL 05.00 - paid
    14/10/16 PL 10:00 - paid
    28/10/16 WT 40:00 - paid
    10/11/16 CL 05.00 - paid
    10/11/16 CL 05.00 - paid
    11/11/16 CL 66.00 - paid - last payment on debt 2
    11/11/16 PL 10:00 - paid
    25/11/16 WT 40:00 - paid
    09/12/16 PL 10:00 - paid
    23/12/16 WT 40:00 - paid
    06/01/17 PL 10.00 - paid
    20/01/17 WT 40.00 - paid
    03/02/17 PL 10.00
    17/02/17 WT 17.19 - last payment on debt 4
    03/03/17 PL 10.00
    Last edited by miracleworker; 20-01-2017 at 12:38 PM. Reason: WIP
    Miracleworker

    Initial Debt: 23,300.78. Repaid: 286.00. No. Of Debts Repaid: 1/14. Savings: 145.12.
    • miracleworker
    • By miracleworker 15th Dec 16, 11:32 AM
    • 9 Posts
    • 26 Thanks
    miracleworker
    List Of All Debts
    This is all the information I have presently.
    These rae the initial debt figures, before payments in post #19, above.

    Undisputed Debts [B]
    (01) 00,124.47 for mobile
    (02) 00,086.00 for clothing - cleared
    (03) 00,079.60 for electric
    (04) 00,177.19 for water
    (10) 00,840.00 for mobile phone

    Debts Subject To PPI Enquiry
    (07) 00,370.00 for personal loan
    (08) 00,678.36 for overdraft
    (11) 00,852.15 for store card
    (12) 02,243.00 for credit card

    Debts Subject To Counter-Claim
    (05) 00,298.40 for telephone
    (06) 00,330.40 for Class 2 N.I.
    (09) 00,694.40 for tax credit over-payment
    (13) 05,500.00 approx. for income tax
    (14) 10,660.00 approx. for car loan and insurances
    Last edited by miracleworker; 19-01-2017 at 12:34 PM. Reason: WIP
    Miracleworker

    Initial Debt: 23,300.78. Repaid: 286.00. No. Of Debts Repaid: 1/14. Savings: 145.12.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

3,323Posts Today

8,282Users online

Martin's Twitter