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
  • FIRST POST
    • Dewdrop.ja
    • By Dewdrop.ja 14th Sep 16, 3:59 PM
    • 39Posts
    • 58Thanks
    Dewdrop.ja
    Jumping in!
    • #1
    • 14th Sep 16, 3:59 PM
    Jumping in! 14th Sep 16 at 3:59 PM
    Hello. I'm completely new to these forums and would like to join you! Now seems like the perfect time for me to work on becoming debt-free - how exciting! So here's a bit about me and my finances as they currently stand.

    I am a single mum to two girls, who are 3 and 5. I separated from my husband 2 years and we divvied up our credit card debts then. I then bought him out of his share of our house this year, creating more debt. I started working full time a year ago and made quite a dent in my debt, however that seems to have be in a vain now! I bought a dog a few months ago who unfortunately has a medical condition (unbeknownst to me) which has cost me a couple of grand so far and still is not resolved. Sadly she is leaving us - a charity is taking her and will continue to "fix her" before finding her a lovely new home for a lovely new life! It's a horrible time for us but I'm not a bottomless pit and neither is my credit card

    I'm now back to working part time which equates to roughly the same money at the end of the month (taking travel and childcare etc in to account), less stress, and lots more time with my girls

    So there's a bit about me and how I've gotten to where I am now. I'm going to try and work out how I create a signature and do one of those expenses thingies!

    Be back soon!
Page 2
    • pennystretcher
    • By pennystretcher 18th Sep 16, 10:30 PM
    • 257 Posts
    • 1,255 Thanks
    pennystretcher
    Great start! Although your expenditure is now shown too high..

    Geek Squad - if it was me I would cancel this...
    Phone & broadband - I'm sure you can find a better deal on MSE site. Are you tied in a contract or are you on rolling montly contract?

    Groceries - try Aldi or Lidl, you'll be surprised how much you can save and they do local meat products etc as well..

    Also, could you cut your entertainment budget and build up an emergency fund first?
    Last edited by pennystretcher; 18-09-2016 at 10:38 PM.
    MFW Sep 2016 £12750 Aug 2016 £12875 Apr 2016 £15500 Apr 2015 £21365
    • louby40
    • By louby40 19th Sep 16, 6:01 AM
    • 458 Posts
    • 1,002 Thanks
    louby40
    Welcome! You're doing so well and starting to think about generating more money.

    Do you meal plan? I find this helps us out loads. I budget £60 a week for food ( there are 4 of us inc 2 tall teenage boys) and we shop in Aldi.

    I'm constantly looking for stuff to sell on eBay. I sold a broken kindle last week for £8! It's amazing what people will buy!
    Oct 16 - Barclaycard £371 0% First Direct cc £840 0% Parents £2695 = £3906
    Sept 16 - Barclaycard £540 0% First Direct £870 0% Parents £2995 = £4405
    Aug 16 - Barclaycard £668 0% First Direct £900 0% Parents £3295 = £4863
    Car loan £5609 Mortgage £100,497
    • Dewdrop.ja
    • By Dewdrop.ja 19th Sep 16, 7:32 AM
    • 39 Posts
    • 58 Thanks
    Dewdrop.ja
    Thank you both. I do shop in Lidl now and have brought my weekly spend down. I used last month's statement for the SOA so I think it's a bit high due to the summer hols although I did try to factor that in but yes I agree. I'd now like to set a budget and then stick to it for days out/entertaining. Muh the same as I'm going to budget my diy. I would like to et an emergency fund back up. Would you say prioritise this over clearing credit cards?

    I'm going to speak to my ex employer about paying them back maybe £100 a month so fingers crossed they let me do that. I'm also going to find out how much I'm looking at for replacing the carpet so I have a goal in mind there.

    Interestingly, last night I was looking in to how much I can get for my broken TV. The repair cop any offered to dispose of it but I think I should be able to get something for it and every little helps!

    I looked into music magpie and the recent reviews all seem to say it's really bad now and you're only being offered pennies. I'm thinking even a car boot offering them for 50p may be a better option. I think I will continue selling on FB, then car boot and then ebay what's left.

    This morning I woke up thinking about what DD had said the other day about the car. I did have a car on finance which was brand new so I didn't have unexpected bills and that was great. I then bought my current car on finance but it was 3 years old so again still less likely to cost loads in repairs. But now that car is nearly 10 years old and is costing me a lot of money each service, mot and other times in between. All the while a big chunk of my credit card debt is for it too! I'm definitely going to look at trading it in for a new car again. I was able to keep the finance while taking over my mortgage but now that's sorted I should be fine and maybe even better off!

    I will add phone and Internet to my to do list and cancel geek squad ASAP!

    Thanks everyone! x
    Halifax: £4765.18
    MBNA: £6843.51
    • Dewdrop.ja
    • By Dewdrop.ja 19th Sep 16, 8:05 AM
    • 39 Posts
    • 58 Thanks
    Dewdrop.ja
    Money I need to raise:
    £60 petrol for Wednesday
    £600 for additional expenses from summer coming out on 4/10

    Money raised so far:
    £0!
    Halifax: £4765.18
    MBNA: £6843.51
    • Dewdrop.ja
    • By Dewdrop.ja 19th Sep 16, 2:08 PM
    • 39 Posts
    • 58 Thanks
    Dewdrop.ja
    Money I need to raise:
    £60 petrol for Wednesday
    £600 for additional expenses from summer coming out on 4/10

    Money raised so far:
    £0!
    £20
    Halifax: £4765.18
    MBNA: £6843.51
    • DD265
    • By DD265 19th Sep 16, 4:00 PM
    • 1,044 Posts
    • 2,534 Thanks
    DD265
    Hmm £660 in two weeks could be tough.

    1) any chance of any old savings accounts you've forgotten about?
    2) any big ticket items (inc TV) you could sell?
    Barclaycard: £2,470.61/£2907.26 - 15% paid
    MBNA: £2,954.54/£3866.92 - 24% paid
    • Dewdrop.ja
    • By Dewdrop.ja 19th Sep 16, 5:39 PM
    • 39 Posts
    • 58 Thanks
    Dewdrop.ja
    My tv is broken but I'm still hoping to sell it! I'm now working out a price for all of my business supplies for my jewellery making business!
    I have £80 in bids on my jewellery auction so far too. Keeping everything crossed!
    Halifax: £4765.18
    MBNA: £6843.51
    • Dewdrop.ja
    • By Dewdrop.ja 20th Sep 16, 9:55 AM
    • 39 Posts
    • 58 Thanks
    Dewdrop.ja
    So last night I counted all of my gemstone beads and have over £250 worth! I have jewellery boxes, display stuff, and a light box to sell too - so fingers crossed that will all make a big dent!

    I need to photograph and add a few more bits to fb today too.

    I've also decided to go car shopping! I worked out yesterday that if I were still paying my car finance (£181) it would be costing me £280 a month roughly as I seem to be paying for a newer car still (5 years on) and paying for all the repairs! I hadn't worked this out before as I had to borrow money to clear my car finance in order to take over my mortgage. I then paid that money back using my credit card! So in theory I'm still paying for it!

    I imagine I'll be back with more today - but tomorrow I will be taking my doggie up country so 10 hours of driving! Will try and sort a packed lunch so I don't spend loads at service stations!
    Halifax: £4765.18
    MBNA: £6843.51
    • Dewdrop.ja
    • By Dewdrop.ja 20th Sep 16, 10:40 PM
    • 39 Posts
    • 58 Thanks
    Dewdrop.ja
    Made another £10 today selling my light box
    And finished pricing up everything from my business ready to sell on fb/ebay
    Halifax: £4765.18
    MBNA: £6843.51
    • MalmesburyMagic
    • By MalmesburyMagic 21st Sep 16, 5:05 AM
    • 10 Posts
    • 51 Thanks
    MalmesburyMagic
    Hi ... well done on your great start ... good luck, now subscribed x
    Barclaycard £tbc
    Santander £tbc
    Simply Be £tbc
    Evans £tbc
    • Dewdrop.ja
    • By Dewdrop.ja 21st Sep 16, 7:21 AM
    • 39 Posts
    • 58 Thanks
    Dewdrop.ja
    Thank you Malmesbury. I have identified so many areas to work on - creating a plan of attack will be a must!

    Made another £200 last night selling my beads

    Tough day ahead today so will be focusing on that and hopefully get back into money making/saving in a couple of days. It may actually serve as a welcome distraction!
    Halifax: £4765.18
    MBNA: £6843.51
    • fourthtimelucky
    • By fourthtimelucky 21st Sep 16, 1:01 PM
    • 20 Posts
    • 25 Thanks
    fourthtimelucky
    I didn't know Music Magpie did books as well. I made about £60 doing DVDs and computer games last year but will have a look and see if I can get anything for some of the millions of books I have in the loft.

    Hope you feel better soon!!
    Starting point Aug 2016 - £13,853.38
    Current total Sep 2016 - £13,845.40 - 0.06% paid off (I have an excuse for month one...)
    Debt free date (worst case) December 2019
    • Dewdrop.ja
    • By Dewdrop.ja 22nd Sep 16, 9:52 PM
    • 39 Posts
    • 58 Thanks
    Dewdrop.ja
    Thank you forthtimelucky Fingers crossed you do well with them!

    I've sold some more bits today

    Money I need to raise:
    £60 petrol for Wednesday (put on credit card to pay next month)
    £600 for additional expenses from summer coming out on 4/10

    Money raised so far:
    £240

    Advertising some other bits and still have my jewellery being bid on until Saturday evening!

    Being really strict about eating out and hoping to make a meal plan soon.

    Considering having the car valeted to make sure I'm offered a good amount for it - what do you think?

    xx
    Halifax: £4765.18
    MBNA: £6843.51
    • DD265
    • By DD265 23rd Sep 16, 2:52 PM
    • 1,044 Posts
    • 2,534 Thanks
    DD265
    My local Tesco has a car wash service and they do a valet for £12 - well worth it if you can't face doing it yourself.

    TBH as long as it's not a tip I doubt it'll affect the price as the company you sell it to will surely plan to valet anyway - it might be scratches outside that are the issue. If you ask in the motoring section of this forum I'm sure they'll give you good advice
    Barclaycard: £2,470.61/£2907.26 - 15% paid
    MBNA: £2,954.54/£3866.92 - 24% paid
    • Dewdrop.ja
    • By Dewdrop.ja 23rd Sep 16, 4:07 PM
    • 39 Posts
    • 58 Thanks
    Dewdrop.ja
    Thanks DD I should do it myself really! I'm hoping to trade it in so I thought the same about them already planning in valeting it. Just being lazy *slaps wrist*

    Made another £6 today and have more bids on my jewellery.

    I have priced up recarpetting my house and I'm looking at £875. I low I can get cheaper remnants etc but this is a very rare occasion that I'm happy to pay for great quality. It's an investment after all!!
    Halifax: £4765.18
    MBNA: £6843.51
    • Dewdrop.ja
    • By Dewdrop.ja 24th Sep 16, 2:49 PM
    • 39 Posts
    • 58 Thanks
    Dewdrop.ja
    An updated SOA -

    Statement of Affairs and Personal Balance Sheet
    Household Information

    Number of adults in household........... 1
    Number of children in household......... 2
    Number of cars owned.................... 1
    Monthly Income Details

    Monthly income after tax................ 832
    Partners monthly income after tax....... 0
    Benefits................................ 1104
    Other income............................ 147
    Total monthly income.................... 2083

    Monthly Expense Details

    Mortgage................................ 196
    Secured/HP loan repayments.............. 0
    Rent.................................... 207.41
    Management charge (leasehold property).. 0
    Council tax............................. 81
    Electricity............................. 26
    Gas..................................... 32
    Oil..................................... 0
    Water rates............................. 29.5
    Telephone (land line)................... 37.75
    Mobile phone............................ 19.99
    TV Licence.............................. 12.12
    Satellite/Cable TV...................... 0
    Internet Services....................... 0
    Groceries etc. ......................... 370
    Clothing................................ 50
    Petrol/diesel........................... 75
    Road tax................................ 19.25
    Car Insurance........................... 32.11
    Car maintenance (including MOT)......... 100
    Car parking............................. 10
    Other travel............................ 0
    Childcare/nursery....................... 195
    Other child related expenses............ 30
    Medical (prescriptions, dentist etc).... 61
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 12.08
    Contents insurance...................... 0
    Life assurance ......................... 22.03
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 60
    Haircuts................................ 35
    Entertainment........................... 50
    Holiday................................. 75
    Emergency fund.......................... 0
    DIY..................................... 100
    Total monthly expenses.................. 1938.24


    Assets

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


    Secured & HP Debts

    Description....................Debt......Monthly.. .APR
    Mortgage...................... 34648....(196)......0
    Total secured & HP debts...... 34648.....-.........-

    Unsecured Debts
    Description....................Debt......Monthly.. .APR
    Halifax........................4765.18...48.13.... .0
    MBNA...........................6843.51...69.52.... .0
    Total unsecured debts..........11608.69..117.65....-


    Monthly Budget Summary

    Total monthly income.................... 2,083
    Expenses (including HP & secured debts). 1,938.24
    Available for debt repayments........... 144.76
    Monthly UNsecured debt repayments....... 117.65
    Amount left after debt repayments....... 27.11

    Personal Balance Sheet Summary
    Total assets (things you own)........... 0
    Total HP & Secured debt................. -34,648
    Total Unsecured debt.................... -11,608.69
    Net Assets.............................. -46,256.69

    Created using the SOA calculator at www.stoozing.com.
    Reproduced on Moneysavingexpert with permission, using IE browser.
    Halifax: £4765.18
    MBNA: £6843.51
    • Dewdrop.ja
    • By Dewdrop.ja 24th Sep 16, 3:55 PM
    • 39 Posts
    • 58 Thanks
    Dewdrop.ja
    Money I need to raise:
    £600 for additional expenses from summer coming out on 4/10
    £631.75 to previous employer
    £875 to carpet the house

    Money raised so far:
    £255
    Halifax: £4765.18
    MBNA: £6843.51
    • Dewdrop.ja
    • By Dewdrop.ja 25th Sep 16, 3:59 PM
    • 39 Posts
    • 58 Thanks
    Dewdrop.ja
    Bidding ended on my jewellery last night and I've sold some furniture so here's an update -

    Money I need to raise:
    £600 for additional expenses from summer coming out on 4/10
    £631.75 to previous employer
    £875 to carpet the house

    Money raised so far:
    £525.50

    I've cancelled my pet insurance so that's saving £30 a month and I am just about to cancel Geek Squad.
    I will ring my ex employer and see if they'll accept £100 a month. The carpets will have to wait too! In the meantime I need to work through my expenses and make sure everything is as cheap as it can be! Wish me luck!
    Halifax: £4765.18
    MBNA: £6843.51
    • Dewdrop.ja
    • By Dewdrop.ja 26th Sep 16, 12:39 PM
    • 39 Posts
    • 58 Thanks
    Dewdrop.ja
    Just switched broadband through uswitch from £37.75 to £20.74, which includes the upfront cost spread across 12 months.
    Also found an exemption card for nhs from April! Very annoyed that I missed that and having been paying for prescriptions since then but glad to have it now. That brings my medical expenses down to just £21 for contact lenses and £30 for the chiropractor
    Halifax: £4765.18
    MBNA: £6843.51
    • Dewdrop.ja
    • By Dewdrop.ja 26th Sep 16, 1:29 PM
    • 39 Posts
    • 58 Thanks
    Dewdrop.ja
    I've just switched my gas and electricity with uswitch. So saving £31 a month now by changing energy and Internet suppliers

    I've agreed a payment plan with my previous employer. £132 this month and then £100 each month for 5 months. So now...


    Money I need to raise:
    £600 for additional expenses from summer coming out on 4/10
    £132 to previous employer
    £875 to carpet the house

    Money raised so far:
    £525.50
    Halifax: £4765.18
    MBNA: £6843.51
Welcome to our new Forum!

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

Forum Team Contact us

Live Stats

173Posts Today

1,424Users online

Martin's Twitter