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
    • DancingUnicorn
    • By DancingUnicorn 12th Nov 17, 4:53 PM
    • 115Posts
    • 376Thanks
    DancingUnicorn
    Life's a Rollercoaster
    • #1
    • 12th Nov 17, 4:53 PM
    Life's a Rollercoaster 12th Nov 17 at 4:53 PM
    Third time lucky for this here diary. SOA to follow.
    LBM: October 2016: £20,130 / Current: November 2017: £17,545 12.8%
    DFD: February 2024
    SPC#577 (2017: £60.58)
Page 1
    • DancingUnicorn
    • By DancingUnicorn 12th Nov 17, 5:05 PM
    • 115 Posts
    • 376 Thanks
    DancingUnicorn
    • #2
    • 12th Nov 17, 5:05 PM
    • #2
    • 12th Nov 17, 5:05 PM
    Here is my SOA (with some annotations of things I felt may need an explanation). As I am teacher training and therefore living off a student loan and a Saturday job, it was a little more difficult to complete.
    I have calculated up to and including August as I should be able to work August to pay September bills when I should then have a teaching job.

    Please feel free to share any thoughts.


    [font=courier new]Statement of Affairs and Personal Balance Sheet

    Household Information

    Number of adults in household........... 1 my boyfriend stays over regularly but I technically live alone.
    Number of children in household......... 0
    Number of cars owned.................... 1

    Monthly Income Details

    Monthly income after tax................ 1052 This is the amount I have now (left over savings and first student loan installment) plus my next two student loan installments,
    plus £100/month from a Saturday job. I divided this by 9 to give me a monthly amount from now - August (I hope to be working part time throughout August ready to start a job in Septembet)

    Partners monthly income after tax....... 0
    Benefits................................ 0
    Other income............................ 0
    Total monthly income.................... 1052


    Monthly Expense Details

    Mortgage................................ 0
    Secured/HP loan repayments.............. 162
    Rent.................................... 475
    Management charge (leasehold property).. 0
    Council tax............................. 0 As a student I am exempt. They have messed up my application for this so I've paid 3 installments which I should be getting back soon
    Electricity............................. 69 Combined gas and electricity
    Gas..................................... 0
    Oil..................................... 0
    Water rates............................. 20 Pay quarterly and put £20 per month into a savings account in anticipation of the bill
    Telephone (land line)................... 0
    Mobile phone............................ 33 Stuck in a contract
    TV Licence.............................. 13
    Satellite/Cable TV...................... 17 This is a massively reduced offer from Sky as I record most of my TV
    Internet Services....................... 41 This is inclusive of land line and I have no other option of package due to the area I live in
    Groceries etc. ......................... 0 Although he doesn't live with me, my boyfriend takes full responsibility for the weekly shopping
    Clothing................................ 0
    Petrol/diesel........................... 80
    Road tax................................ 12
    Car Insurance........................... 0 Paid in full this year and will be paid monthly next year so currently can't afford to put away for this
    Car maintenance (including MOT)......... 0 I have a small emergency fund which I am trying to grow with spare change that will be used for these purpases
    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 Paid in full for this year, will shop around Christmas time for a good deal to pay in full using emergency fund
    Life assurance ......................... 0
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 0 These come out of any extra I get from my Saturday job above the £100 I budget
    Haircuts................................ 0
    Entertainment........................... 8
    Holiday................................. 0
    Emergency fund.......................... 0 I don't set aside a certain amount from this but this gets built up with pennies left over from rounding up bills, additional income from Saturday job, and any petrol money I get back from work
    Total monthly expenses.................. 930



    Assets

    Cash.................................... 0
    House value (Gross)..................... 0
    Shares and bonds........................ 0
    Car(s).................................. 3000
    Other assets............................ 0
    Total Assets............................ 3000



    Secured & HP Debts

    Description....................Debt......Monthly.. .APR
    Mortgage...................... 0........(0)........0
    Hire Purchase (HP) debt ...... 3401.....(162)......0
    Total secured & HP debts...... 3401......-.........-


    Unsecured Debts All 0% interest as I am paying these through StepChange. My parents said they are happy for me to pause paying until I get a full time job in September.
    Description....................Debt......Monthly.. .APR
    Credit Card....................330.......5.........0
    Loan...........................7013......18.5..... .0
    Overdraft......................1639......11.5..... .0
    Dad............................880.......0........ .0
    Mum............................530.......0........ .0
    Loan+Overdraft.................3749......26....... .0
    Total unsecured debts..........14141.....61........-



    Monthly Budget Summary

    Total monthly income.................... 1,052
    Expenses (including HP & secured debts). 930
    Available for debt repayments........... 122
    Monthly UNsecured debt repayments....... 61
    Amount left after debt repayments....... 61


    Personal Balance Sheet Summary
    Total assets (things you own)........... 3,000
    Total HP & Secured debt................. -3,401
    Total Unsecured debt.................... -14,141
    Net Assets.............................. -14,542
    LBM: October 2016: £20,130 / Current: November 2017: £17,545 12.8%
    DFD: February 2024
    SPC#577 (2017: £60.58)
    • DancingUnicorn
    • By DancingUnicorn 14th Nov 17, 5:05 PM
    • 115 Posts
    • 376 Thanks
    DancingUnicorn
    • #3
    • 14th Nov 17, 5:05 PM
    • #3
    • 14th Nov 17, 5:05 PM
    So far so good this week. No spending and my PA money finally went into circle and from there to my bank account. So it’s going to sit nicely in my emergency fund until August when I’ll likely need to use it!

    I’ve sent my bank details off to my holiday job and should (hopefully!) get paid from them next week.

    Dad put £30 into my account yesterday (completely randomly - said it was an "I love you" gift) so it's gone straight into the savings account.

    No potting going on because I have no money to spend to make change! Even though I have Christmas presents to buy, I must be more careful with my money this month.

    Most of my Christmas list is written, I just need to make some jam and Christmas cakes then go out and buy the rest. Still not sure what to get my bf’s Dad but I’ll think of something!
    Last edited by DancingUnicorn; 15-11-2017 at 10:13 PM.
    LBM: October 2016: £20,130 / Current: November 2017: £17,545 12.8%
    DFD: February 2024
    SPC#577 (2017: £60.58)
    • DancingUnicorn
    • By DancingUnicorn 15th Nov 17, 10:40 PM
    • 115 Posts
    • 376 Thanks
    DancingUnicorn
    • #4
    • 15th Nov 17, 10:40 PM
    • #4
    • 15th Nov 17, 10:40 PM
    Looked at all my bills today. If I don't get any additional income I can survive until the end of August on student loan + Saturday job (not including my savings account). Assuming I am successful in getting a teaching job I would be paid at the end of September, so realistically I need to get at least £900 into the savings.
    It's currently sitting at £256 but this is put aside for Christmas presents (intending to spend as little as possible) and will need to be used for home insurance in December, MOT in April and an initial car insurance payment in August (will be back to monthly payments next year).

    I have £3.18 sat in my PA account that I''m hoping to keep saved in there to add up towards the £900 I need.
    I also have £3.47 pending in my TCB account and will be using links from this for Christmas presents (as well as insurance, etc throughout the year) so this should help top up the funds!
    My ReceiptHog account is coming along nicely and I am a third of the way to £5 cashout with PayPal - it's taking ages but well worth it for simply taking a photo of every receipt I get.
    825 points on YouGov so I'm a long way from the 5,000 needed for a cashout but again, it's worth it for next to no effort.

    I also should be able to work most of the holidays (there are 53 days I have free for work between now and September but obviously I'm going to need some of these to do essays, etc and it will entirely depend on when I am needed at work as to how many of these I manage to actually work!) I calculate that if I worked half of these I easily cover the shortfall.
    LBM: October 2016: £20,130 / Current: November 2017: £17,545 12.8%
    DFD: February 2024
    SPC#577 (2017: £60.58)
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 15th Nov 17, 10:54 PM
    • 2,203 Posts
    • 10,553 Thanks
    HairyHandofDartmoor
    • #5
    • 15th Nov 17, 10:54 PM
    • #5
    • 15th Nov 17, 10:54 PM
    Good luck with your debt busting.
    My Diary http://forums.moneysavingexpert.com/showthread.php?t=5716867
    Debt in July 2017 = £58,766 DEBT FREE 31 October 2017
    NEW GOALS - Build an Emergency Fund & Loss of Income Fund
    Emergency Fund 1 = £818/Emergency Fund 2 = £192.63
    • DancingUnicorn
    • By DancingUnicorn 16th Nov 17, 5:54 PM
    • 115 Posts
    • 376 Thanks
    DancingUnicorn
    • #6
    • 16th Nov 17, 5:54 PM
    • #6
    • 16th Nov 17, 5:54 PM
    Thank you HairyHandofDartmoor. Congratulations on your own debt busting and good luck for the emergency fund!

    £3 planned spend for dance class tonight and currently no other spending. Though I may pop out to Tesco later as I really need a new hoody and would be good to have it ready for Pyjama Day for Children in Need tomorrow. If I do I'll be borrowing this money off myself in anticipation of payday at the weekend!

    Savings: £256.48
    PA: £3.18
    TCB: £3.47
    Clubcard: £13.50
    Receipt Hog: 483/1500
    YouGov: 825/5000
    LBM: October 2016: £20,130 / Current: November 2017: £17,545 12.8%
    DFD: February 2024
    SPC#577 (2017: £60.58)
    • HairyHandofDartmoor
    • By HairyHandofDartmoor 16th Nov 17, 7:56 PM
    • 2,203 Posts
    • 10,553 Thanks
    HairyHandofDartmoor
    • #7
    • 16th Nov 17, 7:56 PM
    • #7
    • 16th Nov 17, 7:56 PM
    I know how difficult it is to budget when you don't have a monthly wage coming in as my DH and I are self employed. It's a good idea to divide your loan in the way you have. Will your Saturday employer be able to give you any extra work in the holidays?

    It's good that your parents will wait for their loan to be repaid
    My Diary http://forums.moneysavingexpert.com/showthread.php?t=5716867
    Debt in July 2017 = £58,766 DEBT FREE 31 October 2017
    NEW GOALS - Build an Emergency Fund & Loss of Income Fund
    Emergency Fund 1 = £818/Emergency Fund 2 = £192.63
    • DancingUnicorn
    • By DancingUnicorn 16th Nov 17, 10:52 PM
    • 115 Posts
    • 376 Thanks
    DancingUnicorn
    • #8
    • 16th Nov 17, 10:52 PM
    • #8
    • 16th Nov 17, 10:52 PM
    Yes, very difficult! I made the mistake when I was first at uni of not splitting my loan up and ended up with no money (the start to my debt problems!). I knew I couldn't do that now without risking losing my house. I've learned a lot since then!
    I'm very lucky that my parents are so understanding, and although they've both said there's no rush for the money back, I will be restarting payments once I've secured a job.
    Regarding my Saturday job - this is working as a personal assistant for a disabled lady (taking her out in the community, etc) so the chance of extra hours would only arise if her other personal assistants are off, otherwise, the money just isn't in her budget. She has said she'll think of me if that happens though. I also used to work with a young man under a similar arrangement whose Mum has said she may ask me to do a few hours over summer too.

    I don't think it's going to be too difficult to make this £900 with various part time work opportunities but as you never know what could happen (health, etc) I'd like to get myself sorted and on track sooner rather than later. Anything I manage to save that isn't required for living expenses with go either into an emergency fund or onto the debts once I have a job.
    LBM: October 2016: £20,130 / Current: November 2017: £17,545 12.8%
    DFD: February 2024
    SPC#577 (2017: £60.58)
    • DancingUnicorn
    • By DancingUnicorn 18th Nov 17, 4:31 PM
    • 115 Posts
    • 376 Thanks
    DancingUnicorn
    • #9
    • 18th Nov 17, 4:31 PM
    • #9
    • 18th Nov 17, 4:31 PM
    Going to my friend's house for a takeaway tonight but the boyfriend has offered to pay - win, win! Spent £12.30 on groceries and £1 on a new book. I did get a new jumper earlier in the week but the boyfriend paid for it (only £12) - he really does spoil me! I can't wait until September when I'll have some spare income to treat him.

    Quick update on accounts. I've not bought any Christmas presents yet, though, so the savings and Clubcard will drop. After Christmas, I will be focusing on increasing everything.

    I'm changing from my £100/4 weeks spending money to £20/week with £20 emergency which will go into my sealed pot if it's not spent. This money will reset on Saturdays as that's when I get paid (my Saturday job usually pays £200 every 4 weeks so £100 goes into my budget and £100 for spends. If I get paid over this - I just got £4 extra - it goes into my savings account).

    Spends: £13.30/£20

    Savings: £260.48
    PA: £6.68
    TCB: £3.47
    Clubcard: £13.50
    Receipt Hog: 523/1500
    YouGov: 875/5000
    LBM: October 2016: £20,130 / Current: November 2017: £17,545 12.8%
    DFD: February 2024
    SPC#577 (2017: £60.58)
    • DancingUnicorn
    • By DancingUnicorn 21st Nov 17, 4:56 PM
    • 115 Posts
    • 376 Thanks
    DancingUnicorn
    Not much to report, other than I've been sending on Christmas presents! That's the niece and nephew sorted and the main present for the OH (although I've not managed to get his annual leave confirmed for it yet so fingers crossed!).
    I still need to buy OH anniversary present and a couple of little things to open at Christmas, and a couple of other bits for parents, etc. Mostly I need to get cracking on making my jam and Christmas cakes for presents!

    Spends: £13.30/£20 (+£100.19 on Christmas from Savings account)

    Savings: £160.29
    PA: £7.87
    TCB: £10.34
    Clubcard: £13.50
    Receipt Hog: 533/1500
    YouGov: 875/5000
    LBM: October 2016: £20,130 / Current: November 2017: £17,545 12.8%
    DFD: February 2024
    SPC#577 (2017: £60.58)
    • DancingUnicorn
    • By DancingUnicorn 26th Nov 17, 10:57 PM
    • 115 Posts
    • 376 Thanks
    DancingUnicorn
    Managed to pot £8 leftover money last week (I'm not sure where the 70p came from but I'm not complaining! Christmas spends have been adding up still quite a bit to get.
    Got paid for the work I did over the half term so that's gone into savings, but the water bill has come out so it's not gone up by much.
    Only planned spend this week is £3 at dancing on Thursday. Let's hope I can keep that up! Need to get PA and YouGov back on track but I think things are going okay. Obviously the debts aren't going down much but I can't expect that to happen until September. For now, I'm keeping my focus on getting the savings up to £900+ to cover September.

    Weekly spends: £10.33/£20 (+£35.94 on Christmas from Savings account)

    Savings: £253.37
    PA: £7.87
    TCB: £10.34
    Clubcard: £13.50
    Receipt Hog: 643/1500
    YouGov: 875/5000
    LBM: October 2016: £20,130 / Current: November 2017: £17,545 12.8%
    DFD: February 2024
    SPC#577 (2017: £60.58)
    • DancingUnicorn
    • By DancingUnicorn 30th Nov 17, 8:47 PM
    • 115 Posts
    • 376 Thanks
    DancingUnicorn
    First snow of the season today! The kids in school were a bit wild and it was typically my playground duty but all in all an okay day.

    Got offered my council tax rebate (finally!) so there should be £242.93 making its way to me very soon which will go straight to the savings which will boost it up nicely in preparation for September. Looks about half way but more will be taken from the savings for the last few Christmas bits so I'll reassess the situation over the Christmas period then I'll be ready to save, save, save!

    Potted a few bits of loose change and bought a hot chocolate on a training day for 50p. Otherwise, no spends so hopefully a bit to pot Saturday morning (also dance was cancelled so I saved that money!).

    Next week is a little more expensive with a meal out on Thursday so I'll be taking my back up £20 with me.

    Weekly spends: £10.83/£20 (+£35.94 on Christmas from Savings account)

    Savings: £253.47
    PA: £9.37
    TCB: £10.34
    Clubcard: £13.50
    Receipt Hog: 673/1500
    YouGov: 875/5000
    LBM: October 2016: £20,130 / Current: November 2017: £17,545 12.8%
    DFD: February 2024
    SPC#577 (2017: £60.58)
    • DancingUnicorn
    • By DancingUnicorn 6th Dec 17, 9:16 PM
    • 115 Posts
    • 376 Thanks
    DancingUnicorn
    It's been a hectic week with a lot going on at school as well as the usual Christmas craziness! Lots of evidence bundle stuff to get sorted this week but then I can focus on the PGCE essay for the rest of the term as I don't have a teaching commitment.

    The anticipated council tax refund arrived in my bank account today so the savings are looking very healthy. However, I'm very aware some of this is still what was put away for Christmas. Once I've got the shopping finished (hopefully this weekend!) I'll have a more realistic overview of it.

    Took £40 for my spends this week as I had a Christmas meal booked on Thursday with the dance girls. Unfortunately one of their daughters is really poorly and in the hospital so we've postponed until January. Hopefully, I'll have lots to pot at the end of this week! (though I am out for a meal on Saturday with the old work lot so I might put it into a holding pot in case I overspend at that!).

    Weekly spends: £11/£40

    Savings: £529.19
    PA: £9.37
    TCB: £10.34
    Clubcard: £13.50
    Receipt Hog: 675/1500
    YouGov: 1075/5000
    LBM: October 2016: £20,130 / Current: November 2017: £17,545 12.8%
    DFD: February 2024
    SPC#577 (2017: £60.58)
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

3,326Posts Today

7,788Users online

Martin's Twitter