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  • FIRST POST
    • Dewdrop.ja
    • By Dewdrop.ja 14th Sep 16, 3:59 PM
    • 50Posts
    • 76Thanks
    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 3
    • Dewdrop.ja
    • By Dewdrop.ja 27th Sep 16, 2:52 PM
    • 50 Posts
    • 76 Thanks
    Dewdrop.ja
    Found a forgotten bank account! Went in to the bank as it's under a different name and address and found there was grand total of..... 75p in there!
    Spent 75p on a doughnut as promised for the youngest to comply with the trip in the first place!
    Glad I didn't pay for parking!
    Halifax: £4765.18
    MBNA: £6843.51
    • Dewdrop.ja
    • By Dewdrop.ja 10th Oct 16, 8:35 PM
    • 50 Posts
    • 76 Thanks
    Dewdrop.ja
    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................................ 934
    Other income............................ 147
    Total monthly income.................... 1913


    Monthly Expense Details

    Mortgage................................ 196
    Secured/HP loan repayments.............. 0
    Rent.................................... 207.41
    Management charge (leasehold property).. 0
    Council tax............................. 81
    Electricity............................. 43.99
    Gas..................................... 0
    Oil..................................... 0
    Water rates............................. 29.5
    Telephone (land line)................... 0
    Mobile phone............................ 19.99
    TV Licence.............................. 12.12
    Satellite/Cable TV...................... 0
    Internet Services....................... 20.74
    Groceries etc. ......................... 260
    Clothing................................ 20
    Petrol/diesel........................... 40
    Road tax................................ 12.68
    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).... 51
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 12.08
    Contents insurance...................... 0
    Life assurance ......................... 22.08
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 42
    Haircuts................................ 20
    Entertainment........................... 50
    Holiday................................. 50
    Emergency fund.......................... 0
    Payment to ex employer for 5 months..... 100
    Total monthly expenses.................. 1657.7



    Assets

    Cash.................................... 550
    House value (Gross)..................... 51000
    Shares and bonds........................ 0
    Car(s).................................. 900
    Other assets............................ 0
    Total Assets............................ 52450



    Secured & HP Debts

    Description....................Debt......Monthly.. .APR
    Mortgage...................... 34648....(196)......2.9
    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.................... 1,913
    Expenses (including HP & secured debts). 1,657.7
    Available for debt repayments........... 255.3
    Monthly UNsecured debt repayments....... 117.65
    Amount left after debt repayments....... 137.65


    Personal Balance Sheet Summary
    Total assets (things you own)........... 52,450
    Total HP & Secured debt................. -34,648
    Total Unsecured debt.................... -11,608.69
    Net Assets.............................. 6,193.31


    Created using the SOA calculator at www.stoozing.com.
    Reproduced on Moneysavingexpert with permission, using other browser.
    Halifax: £4765.18
    MBNA: £6843.51
    • Dewdrop.ja
    • By Dewdrop.ja 10th Oct 16, 8:45 PM
    • 50 Posts
    • 76 Thanks
    Dewdrop.ja
    I've not been here for a while but still busy budgeting and trying to make money. I have raised £673 since starting this by selling things. If I can sell what's left that will be another £300 hopefully. I'm going to keep it for sale until Christmas and then what's left I will take to charity.

    I received a letter today saying I can request to have my pension refunded. It's from my previous job and comes to £473. I'm trusting my older self won't resent me for this! I need it now!

    I started a jar for entertainment and at the beginning of the month put £50 in it. When I go out I take cash from there which makes me extra careful! If it runs out I can't go out any more if I have any left it will move into another jar.

    I have another jar for my new carpet - £875 needed - £235 in there so far

    Yesterday, I emptied my attic completely. I did 2 dump runs, a charity shop run, and have a box of things to sell. I put everything that I wanted to keep back in the attic in storage boxes (all labelled up!!) Feels good!

    I think that's all for now!
    Halifax: £4765.18
    MBNA: £6843.51
    • DD265
    • By DD265 13th Oct 16, 3:30 PM
    • 1,107 Posts
    • 2,665 Thanks
    DD265
    You're doing brilliantly! Your SOA is looking a lot better and the sales figure is adding up really nicely.

    Honestly I don't think you'll miss the £473 because by the time you've sorted this out, you'll easily have saved it up and can pay that - and more - back in.
    Barclaycard: £1895.61/£2907.26 - 35% paid
    MBNA: £2,613.57/£3866.92 - 32% paid
    • Dewdrop.ja
    • By Dewdrop.ja 16th Oct 16, 11:12 AM
    • 50 Posts
    • 76 Thanks
    Dewdrop.ja
    Thank you DD. I'm certainly giving it everything!
    I have found a corner sofa for 200 and have put mine up for sale for 300. I think they're worth that as they're in great condition. I need to go and pay for my new carpets today. I will put them on my cashback credit card so I have another month before paying for them which will give me more time to fill up my jar! I'm hoping to use the £235 from the jar and the pension refund of £473. The remaining £167 will come from money owed to me - if I get it in time.
    The rest of the money from sales so far has gone towards the £600 I thought I needed to pay for summer etc. I seem to have balanced out now so I will start a new running tally of money needed/raised when I get chance. I find it really helpful!
    I'm currently working on Christmas gifts. I'm doing hampers so I can control costs and buy bulk. It's all good and well setting a gift budget but making sure you stick to it takes some planning and preparation!
    Halifax: £4765.18
    MBNA: £6843.51
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