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  • FIRST POST
    • Dinah dog
    • By Dinah dog 22nd Jan 17, 10:53 AM
    • 34Posts
    • 96Thanks
    Dinah dog
    Dinah dog bites back
    • #1
    • 22nd Jan 17, 10:53 AM
    Dinah dog bites back 22nd Jan 17 at 10:53 AM
    Hi - I would be really grateful for some help sorting out my current position. Here is my Soa and I will post some details below, many thanks


    Updated SOA
    [font=courier new]Statement of Affairs and Personal Balance Sheet
    Household Information

    Number of adults in household........... 3
    Number of children in household.........
    Number of cars owned.................... 3
    Monthly Income Details

    Monthly income after tax................ 1844
    Partners monthly income after tax....... 1050
    Benefits................................ 0
    Other income............................ 0
    Total monthly income.................... 2894

    Monthly Expense Details

    Mortgage................................ 205
    Secured/HP loan repayments.............. 65.25
    Rent.................................... 0
    Management charge (leasehold property).. 0
    Council tax............................. 86
    Electricity............................. 35
    Gas..................................... 0
    Oil..................................... 60
    Water rates............................. 39.53
    Telephone (land line)................... 0
    Mobile phone............................ 95
    TV Licence.............................. 12.15
    Satellite/Cable TV...................... 0
    Internet Services....................... 22.44
    Groceries etc. ......................... 200
    Clothing................................ 50
    Petrol/diesel........................... 200
    Road tax................................ 53
    Car Insurance........................... 55
    Car maintenance (including MOT)......... 60
    Car parking............................. 0
    Other travel............................ 0
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 20
    Pet insurance/vet bills................. 55
    Buildings insurance..................... 20
    Contents insurance...................... 0
    Life assurance ......................... 11.47
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 100
    Haircuts................................ 20
    Entertainment........................... 50
    Holiday................................. 50
    Emergency fund.......................... 50
    Total monthly expenses.................. 1614.84


    Assets

    Cash.................................... 100
    House value (Gross)..................... 100000
    Shares and bonds........................ 0
    Car(s).................................. 2000
    Other assets............................ 0
    Total Assets............................ 102100


    Secured & HP Debts

    Description....................Debt......Monthly.. .APR
    Mortgage...................... 67000....(205)......0
    Secured Debt.................. 10000....(65.25)....0
    Total secured & HP debts...... 77000.....-.........-

    Unsecured Debts
    Description....................Debt......Monthly.. .APR
    Vanquis credit card............2500......150.......NaN
    Barclaycard....................5400......120...... .0
    Capital one....................1700......70........0
    Bank of Scotland...............8000......40........0
    Step change DMP................11000.....200.......0
    Total unsecured debts..........28600.....580.......-


    Monthly Budget Summary

    Total monthly income.................... 2,894
    Expenses (including HP & secured debts). 1,614.84
    Available for debt repayments........... 1,279.16
    Monthly UNsecured debt repayments....... 580
    Amount left after debt repayments....... 699.16

    Personal Balance Sheet Summary
    Total assets (things you own)........... 102,100
    Total HP & Secured debt................. -77,000
    Total Unsecured debt.................... -28,600
    Net Assets.............................. -3,500
    Jan 2017 - Unsecured debt - £28,600

    2017 - A year of Austerity -
    planning to have fun while doing it


    Vanquis CC - £2500 now £350
Page 2
    • edwink
    • By edwink 30th Jan 17, 6:08 PM
    • 1,687 Posts
    • 11,767 Thanks
    edwink
    At Christmas, large bag of potatoes and veg 19p each. I think they do the same at Easter (Aldi that is)
    Originally posted by dieselv2

    That's useful to know thank you I will keep my eye out around Easter time.

    Dinah looks like your start on your journey is taking off really well. Well done to you Keep up the good work.

    Edwink
    3.36 kWp system, 10 x Ultima & 4 x Panasonic solar panels, Solar Edge Inverter
    7 ducks ~ 9 hens ~ 1 handsome Cockerel
    2000ltr Rainwater harvesting system for loo flushing Hybrid Toyota Auris car

    Hens & ducks chat thread
    http://forums.moneysavingexpert.com/showthread.php?t=5282209
    • Bobarella
    • By Bobarella 30th Jan 17, 7:36 PM
    • 10,476 Posts
    • 69,667 Thanks
    Bobarella
    Hope your son is ok after his hospital visit.
    " Your vibe attracts your tribe"

    Debt neutral 27/03/17 from £40k in the hole 2012.
    Roadkill 17 £56.58 2016-£62.28 2015- £84.20)
    RYSAW17 £1900 2016 £2,535.16 2015 £1027.20
    • Dinah dog
    • By Dinah dog 31st Jan 17, 6:21 PM
    • 34 Posts
    • 96 Thanks
    Dinah dog
    Thanks Bobarella - yes a good appointment with a very helpful specialist. Some treatment planned late March and hopefully he can avoid spinal surgery. She recommended a book which was a couple of pounds on ebay for self help so have ordered one for myself too as getting older and doing office work I think many of us need help. I will update with my progress in a day or two. Bye for now x
    Jan 2017 - Unsecured debt - £28,600

    2017 - A year of Austerity -
    planning to have fun while doing it


    Vanquis CC - £2500 now £350
    • Dinah dog
    • By Dinah dog 3rd Feb 17, 10:40 AM
    • 34 Posts
    • 96 Thanks
    Dinah dog
    Having a day off today with my flexi leave which is a great start to the weekend. Its absolutely pouring down and trying to have a lovely MSE day. Usually on a day off I would be at the shops and having lunch out with a friend!!






    It was my payday this week and OH payday today so having gone through it all we have £800 to pay off our debt this month which is a good start - minimum payments already paid so it is a little more than that. Going to pay all of this off the highest interest credit card - seems like it will take forever to go down. Having a bit of a low with it all this week but am going to read some other threads to try to motivate me. If anyone has any motivating words they would be most appreciated today. Many thanks
    Jan 2017 - Unsecured debt - £28,600

    2017 - A year of Austerity -
    planning to have fun while doing it


    Vanquis CC - £2500 now £350
    • doingitanyway
    • By doingitanyway 3rd Feb 17, 2:21 PM
    • 2,089 Posts
    • 9,670 Thanks
    doingitanyway

    If anyone has any motivating words they would be most appreciated today. Many thanks
    Originally posted by Dinah dog
    Delurking to offer encouraging words. So:

    £800 towards debt plus a minimum charge is not to shoddy. IT WILL MAKE A DIFFERENCE

    I had debts of £25,000 upwards this time last year. I am now at £13,325 and that's on just 1 not brilliant salary so it works and gets easier

    It's harder to start with. It gets easier, the changes are motivating. Yes some days are still pants but isn't it nice to know you are actually doing something about rather than just whining.

    Well done

    DIA x
    JANUARY 2016/SECURED DEBT=24,822/November 2017=4,490
    MORTGAGE FREE 25/07/16
    • Dinah dog
    • By Dinah dog 3rd Feb 17, 2:34 PM
    • 34 Posts
    • 96 Thanks
    Dinah dog
    Thanks DIA for your encouraging words and congratulations on your success - that's an amazing achievement.


    I hope to be able to say the same myself in a years time
    Jan 2017 - Unsecured debt - £28,600

    2017 - A year of Austerity -
    planning to have fun while doing it


    Vanquis CC - £2500 now £350
    • boxofpaws
    • By boxofpaws 3rd Feb 17, 4:06 PM
    • 404 Posts
    • 1,735 Thanks
    boxofpaws
    £800 is amazing! If you could do that every month, you'd be virtually debt free in 3 years time. Similar to us. And while that sounds like a long time, consider how long you have been in debt. It's about 20 years, right, same as me? So 3 years is no time at all.

    You can do this!
    Debt 03/01/17 = £42000
    Debt today = £31900
    • Dinah dog
    • By Dinah dog 4th Feb 17, 3:56 PM
    • 34 Posts
    • 96 Thanks
    Dinah dog
    Thanks boxofpaws, actually 3 years doesn't sound that long. For me I think its about changing the direction of my thinking and not seeing debt as "free money". I have had my head in the sand for too long and have got out then back into debt many times. I'm sure we can still have a lovely life without getting into debt and the support on the forums is something I have never done before - its so helpful. Have a lovely weekend x
    Jan 2017 - Unsecured debt - £28,600

    2017 - A year of Austerity -
    planning to have fun while doing it


    Vanquis CC - £2500 now £350
    • in need of direction
    • By in need of direction 4th Feb 17, 4:42 PM
    • 4,701 Posts
    • 26,486 Thanks
    in need of direction
    I find the long haul quite dispiriting too but you've already taken more than a quarter off one of your debts. That'll be gone forever in the next three months which is amazing.
    Mortgage at 01.01.14 £119,481.83 today £79,389.12, target £75,000 by 31/12/17 Offset fund today £4,055.43 target £5,500 by 31/12/17
    Emergency fund £5k/5.5k & £90/200 cash.
    Current weight loss 8/34 by 28 feb 2018
    determined to stop defining myself by my mistakes.
    Progress not perfection.
    • Bobarella
    • By Bobarella 4th Feb 17, 4:54 PM
    • 10,476 Posts
    • 69,667 Thanks
    Bobarella
    Wow that is a seriously amazing payment to the debt this month! Very impressive!
    " Your vibe attracts your tribe"

    Debt neutral 27/03/17 from £40k in the hole 2012.
    Roadkill 17 £56.58 2016-£62.28 2015- £84.20)
    RYSAW17 £1900 2016 £2,535.16 2015 £1027.20
    • Dinah dog
    • By Dinah dog 5th Feb 17, 5:21 PM
    • 34 Posts
    • 96 Thanks
    Dinah dog
    Thanks both for your encouragement - it really does make a difference. Not sure why I am still feeling so low about it all - I think its the time of year too and maybe realising I can no longer wriggle out of it since writing it down and putting up my SOA.


    I'm learning a lot from everyone here - don't feel so on my own xx
    Jan 2017 - Unsecured debt - £28,600

    2017 - A year of Austerity -
    planning to have fun while doing it


    Vanquis CC - £2500 now £350
    • boxofpaws
    • By boxofpaws 13th Feb 17, 10:21 PM
    • 404 Posts
    • 1,735 Thanks
    boxofpaws
    How are you doing Dinah?
    Debt 03/01/17 = £42000
    Debt today = £31900
    • Dinah dog
    • By Dinah dog 14th Feb 17, 6:39 PM
    • 34 Posts
    • 96 Thanks
    Dinah dog
    Hi boxofpaws - ok thank you. Still carrying on with the budgeting - unfortunately OH's car has broken down and we still don't know whats wrong so bit of a nightmare and paid too much off credit card and had to use £200 of it. One of these days I will learn! Still feeling positive though and that's the main thing. We are thinking of trying to sell the mpv camper that we bought for £900 in November - we haven't even used it yet. Why we thought it was a good idea to keep 3 vehicles on the road I don't know but hoping the weather is dry and sunny at the weekend so we can take some great photos and get it on ebay.


    Nice talking to you and hope you are keeping well too.
    Jan 2017 - Unsecured debt - £28,600

    2017 - A year of Austerity -
    planning to have fun while doing it


    Vanquis CC - £2500 now £350
    • edwink
    • By edwink 18th Feb 17, 11:25 AM
    • 1,687 Posts
    • 11,767 Thanks
    edwink
    Hi Dinah

    How is it all going? Glad to read you are still keeping positive.

    With regards to having to use £200 on the credit card I think it would be wise for you to put some money by each month in to an emergency fund. Then anything that surprises you cost wise can be taken from there. So each month pay money off your debt and save £100 in to your emergency fund. That way hopefully you will not have to use your credit card. You must be strict with yourself though and not touch the emergency fund unless you really need to.

    Let us all know how you are doing when you get a moment. Have a good weekend.

    Edwink x
    3.36 kWp system, 10 x Ultima & 4 x Panasonic solar panels, Solar Edge Inverter
    7 ducks ~ 9 hens ~ 1 handsome Cockerel
    2000ltr Rainwater harvesting system for loo flushing Hybrid Toyota Auris car

    Hens & ducks chat thread
    http://forums.moneysavingexpert.com/showthread.php?t=5282209
    • angelpye
    • By angelpye 18th Feb 17, 11:46 AM
    • 988 Posts
    • 3,710 Thanks
    angelpye
    Popping in to say hi! You are doing so well! I think the DF journey is full of ups and downs especially at the start - like you said its getting into a new mindset and also finding a happy medium between repaying and real life costs at a level that is comfortable for you both.

    I also hit lows but I think a lot of that is reality of what I have done kicking in and also the adjustment to having to think about money and not just doing as I please. I do find more often than not that I am now pleased with myself every time I say no or make a little headway. I have had to readjust my budget several times since starting it in order to find that happy medium.

    Keep on going, you will get there.
    Happiness is wanting what you have...
    Debt Jan 2017: £2589.22 DFD: Sept 2022 April 2022 but this Marching Minimalist can beat that!
    Use it or Loose it gym target: Feb'17 5/6 Mar 4/6
    EF £0/£4200
    • Dinah dog
    • By Dinah dog 24th Feb 17, 7:23 PM
    • 34 Posts
    • 96 Thanks
    Dinah dog
    Thanks Edwink and Angelpye. As you say the road is never a straight one to getting sorted. Its taken me a few years to get here so its not going to be cleared overnight. An emergency fund is a good idea - its just having the self-control not to touch it. I am getting better though - we have quite a lot of space on the credit cards now and I'm not feeling like going out and blowing it all as I would have before!! We decided to sell our camper van so that's another £980 off our debts which is great. I have also started some counselling through work and am going to discuss my self control with money in that so all positive. I hope you are all ok and have a great weekend x
    Jan 2017 - Unsecured debt - £28,600

    2017 - A year of Austerity -
    planning to have fun while doing it


    Vanquis CC - £2500 now £350
    • boxofpaws
    • By boxofpaws 25th Feb 17, 11:24 AM
    • 404 Posts
    • 1,735 Thanks
    boxofpaws
    Ooh don't tell my husband, he really wants a camper van.

    I think the emergency fund is brilliant for peace of mind, knowing that if anything crops up you won't need to use a credit card or overdraft is good for your wellbeing.

    Paws
    Debt 03/01/17 = £42000
    Debt today = £31900
    • kindofagilr
    • By kindofagilr 11th Mar 17, 9:21 AM
    • 6,082 Posts
    • 20,419 Thanks
    kindofagilr
    Hey DD

    How are you getting on???

    I think it's easy to fall into low periods when you are in the debt busting for the long haul.

    I am feeling really low about mine atm and I have no idea why as it's all going well

    You are doing awesome hun and 3 years is great xx
    POAMAYC 2018 #87 PD £0.00/£12,000
    POAMAYC 2017 #87 PD £10,380.18/£10,000
    POAMAYC 2016 #87 PD £7454.80/£7000


    Mortgage (Start Date 01/04/09 ~ 30 year term, due to end 01/07/39)
    £104,409/£86,057.00 (as of 31/08/17) ~ 17.57% Paid

    Survey Money 2017/£107.00 ~ 2018/£0.00

    My Debt Free Diary (Link)
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