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  • FIRST POST
    • fay66
    • By fay66 25th Nov 17, 5:28 PM
    • 664Posts
    • 1,579Thanks
    fay66
    Over the hill and drowning
    • #1
    • 25th Nov 17, 5:28 PM
    Over the hill and drowning 25th Nov 17 at 5:28 PM
    [tt]Statement of Affairs and Personal Balance Sheet

    Household Information

    Number of adults in household........... 1
    Number of children in household......... 0
    Number of cars owned.................... 0 1 car pip hp

    Monthly Income Details

    Monthly income after tax................ 1456
    Partners monthly income after tax....... 0
    Benefits................................ 374
    Other income............................ 0
    Total monthly income.................... 1830


    Monthly Expense Details

    Mortgage................................ 0
    Secured/HP loan repayments.............. 0
    Rent.................................... 450
    Management charge (leasehold property).. 0
    Council tax............................. 156 includes 60 debt paid jan 18
    Electricity............................. 28
    Gas..................................... 28
    Oil..................................... 0
    Water rates............................. 25
    Telephone (land line)................... 0
    Mobile phone............................ 88, ee mobile and pad contract ends jan 19
    TV Licence.............................. 12
    Satellite/Cable TV...................... 58
    Internet Services....................... 0
    Groceries etc. ......................... 200 includes dogs cats
    Clothing................................ 50
    Petrol/diesel........................... 120 miles 250 ew
    Road tax................................ 0
    Car Insurance........................... 0
    Car maintenance (including MOT)......... 0
    Car parking............................. 0
    Other travel............................ 0
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 10
    Pet insurance/vet bills................. 25
    Buildings insurance..................... 0
    Contents insurance...................... 20
    Life assurance ......................... 0
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 50
    Haircuts................................ 30
    Entertainment........................... 60
    Holiday................................. 30
    Emergency fund.......................... 50
    Total monthly expenses.................. 1490



    Assets

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


    No Secured nor Hire Purchase Debts


    Unsecured Debts
    Description....................Debt......Monthly.. .APR
    capital one....................200.......10........34.9
    aqua...........................500.......48....... .34.9
    ocean..........................1000......27....... .34.94
    118 118 loan...................2788......145.......71.3
    studio.........................100.......0........ .0
    fashion world..................200.......0.........0
    littlewoods....................450.......20....... .0
    very...........................300.......17....... .0
    marbles........................4500......189...... .34.9
    Total unsecured debts..........10038.....456.......-



    Monthly Budget Summary

    Total monthly income.................... 1,830
    Expenses (including HP & secured debts). 1,490
    Available for debt repayments........... 340
    Monthly UNsecured debt repayments....... 456
    Amount short for making debt repayments. -116


    Personal Balance Sheet Summary
    Total assets (things you own)........... 0
    Total HP & Secured debt................. -0
    Total Unsecured debt.................... -10,038
    Net Assets.............................. -10,038


    [/tt]
    Last edited by fay66; 25-11-2017 at 6:07 PM.
    Inland revenue £4500=
    Loan £2610
    Pay day loans - 135+600+300+300
    Credit card 1 - 5186
    CC2 -1038
    CC3 - 548 cc4 234
Page 2
    • fay66
    • By fay66 26th Nov 17, 3:11 PM
    • 664 Posts
    • 1,579 Thanks
    fay66
    phone
    Hello and welcome!

    OMFG that 118 118 loan interest rate is scandalous the representative apr is 99% !!! imo you should throw everything at that one first to get rid of it and then move on to the next highest interest rate and so on ,

    what phone have you got ? can you switch to a sim only deal? I got one recently with BT for £9 a month with a £55 amazon or itunes voucher offer

    good luck
    Originally posted by MeenaM
    stupid me got the phone contract last year, when my dd was leaving with me jan 15 stuck with another year with a samsung pad which is rubbish samsung s7
    Inland revenue £4500=
    Loan £2610
    Pay day loans - 135+600+300+300
    Credit card 1 - 5186
    CC2 -1038
    CC3 - 548 cc4 234
    • millymolly22
    • By millymolly22 26th Nov 17, 3:16 PM
    • 17 Posts
    • 40 Thanks
    millymolly22
    If I was you I would contact Stepchange....they really helped me when I hit the brick wall and realised I couldn't do it anymore, which is how you come across.

    You have enough excess income to make a dent in your debts if they stop charging the large interest amounts which Stepchange can advise you about.

    Good luck
    • 117pauline
    • By 117pauline 26th Nov 17, 3:22 PM
    • 462 Posts
    • 5,655 Thanks
    117pauline
    Hi Fay

    Welcome to the debt free board. We are friendly here.

    It sounds to me that it would be helpful if you could take a step back. I think you have got the enthusiasm to sort this but are feeling overwhelmed.

    Your SOA is a work in progress but I would recommend that you keep a spending diary to check how accurate it is. I know it is a pain but record each purchase as it happens.

    How are things going with Christmas? Have you finished your shopping?

    My thoughts on your SOA
    • is Studio, fashion world and very all 0% APR
    • there are no payments showing for studio and fashion world
    • littlewoods - £20 is still showing as an expense
    • 2 free months of council tax £192 - pay straight to 118 118 loan
    • Jan 18 - change to council tax - £60
    • April 18 - £50 rent reduction

    So your SOA will change considerably in your favour.

    You have mentioned reducing clothes, groceries, presents and holidays but I am not sure if that change is on it?

    Have you thought of doing surveys to increase your income? It's possible to earn at least £70 per month although many of us earn considerably more.

    All these are simply ideas. Perhaps you could list each outgoing and make notes where you could cut back.

    It is definitely worth contacting your satellite and phone providers to ask to reduce your packages. Step Change can help with impartial free advice.

    There are so many ideas here so I had best stop now.

    All I can do is to wish you success on your debt free journey. Take care
    Pauline
    Don't get it perfect - Get it going
    Better Than Before
    • fay66
    • By fay66 26th Nov 17, 3:30 PM
    • 664 Posts
    • 1,579 Thanks
    fay66
    thanks
    Hi Fay

    Welcome to the debt free board. We are friendly here.

    It sounds to me that it would be helpful if you could take a step back. I think you have got the enthusiasm to sort this but are feeling overwhelmed.

    Your SOA is a work in progress but I would recommend that you keep a spending diary to check how accurate it is. I know it is a pain but record each purchase as it happens.

    How are things going with Christmas? Have you finished your shopping?

    My thoughts on your SOA
    • is Studio, fashion world and very all 0% APR
    • there are no payments showing for studio and fashion world
    • littlewoods - £20 is still showing as an expense
    • 2 free months of council tax £192 - pay straight to 118 118 loan
    • Jan 18 - change to council tax - £60
    • April 18 - £50 rent reduction

    So your SOA will change considerably in your favour.

    You have mentioned reducing clothes, groceries, presents and holidays but I am not sure if that change is on it?

    Have you thought of doing surveys to increase your income? It's possible to earn at least £70 per month although many of us earn considerably more.

    All these are simply ideas. Perhaps you could list each outgoing and make notes where you could cut back.

    It is definitely worth contacting your satellite and phone providers to ask to reduce your packages. Step Change can help with impartial free advice.

    There are so many ideas here so I had best stop now.

    All I can do is to wish you success on your debt free journey. Take care
    Pauline
    Originally posted by 117pauline
    I forgot about free council tax months, yes ill pay this on 118118,
    and my council tax from april will be 96 will have paid the debt off due to my daughter claiming work tax credit even though she was in college, long story , but she has left home now

    i will speak to sky and ee tomorrow weekends is normally china
    studio fashion world dont pay til jan .
    xmas presents . Ive decided some of my impulse purchases i havent used ie a river island handbag my sister can have for xmas
    bought my daughter small bits, she wants a tv??? no saving for this i only get paid 22/12 pip 31st dec wages 30th november wages
    also rent will reduce to 410 a month from february
    may just not belt in for next few months, also on annual leave 2jan so will not have a huge petrol amount
    Inland revenue £4500=
    Loan £2610
    Pay day loans - 135+600+300+300
    Credit card 1 - 5186
    CC2 -1038
    CC3 - 548 cc4 234
    • starting_again_in_the_sun
    • By starting_again_in_the_sun 26th Nov 17, 5:25 PM
    • 49 Posts
    • 181 Thanks
    starting_again_in_the_sun
    [QUOTE=fay66;73468564]Put a list together Wannabe
    Sky - to call
    EE to call
    clothing to reduce budget of £50 normally use catalogues because of mobility but i suppose i could use the minimum payments as 0

    Littlewoods is being paid by my mum, so will alter this

    home insurance - but was best quote at time and covered my india holiday and contents out of home

    Groceries will reduce - next pay day 30th Nov have shopped this week - iceland £45 will last til next Saturday and pet food all bought


    car parking with badge is free , I cant walk that far and it is more or less door shopping

    50 for presents havent saved so far this year , so yes can reduce for next year say £20 just have one daughter shes 21 but she did ask for a tv.? for her bedroom for this year

    Holidays had a weekend break this year £150 that is , with suffering from depression , thought it might help this was a projection of future

    emergency fund - no i dont save £50 amonth it is a projection of the future- have 2 dogs insured one has had a big operation £100 excess, 2 cats un insured ?
    please reply back .[/Q]

    Well done for your plan so far.

    Is your daughter aware of your financial situation? If you really want to get her a TV, can you ask other relatives to chip in?

    Vet bills are always difficult, is there a maximum excess per year for the dogs? In an ideal world you would also have money set aside for the cats, do they go outside?
    • starting_again_in_the_sun
    • By starting_again_in_the_sun 26th Nov 17, 5:38 PM
    • 49 Posts
    • 181 Thanks
    starting_again_in_the_sun
    Is £200 a month really a lot for groceries including 2 dogs and 2 cats, Toiletries and all meals For the whole month.
    I would have thought this was about right.
    Originally posted by Poor_Single_lady
    I guess it depends on individual circumstances, if you can afford it, fine. But there is definitely room to cut it down.

    Good to see OP is already taking steps to reduce her spending.
    • fay66
    • By fay66 27th Nov 17, 9:58 PM
    • 664 Posts
    • 1,579 Thanks
    fay66
    Update update
    Had a light bulb moment, put my spare room for rent , for £300 and got a guy comming tomorrow bit worried, but he works full time and might be an advantage with my pets,
    also not spent since saturday, had a refund on my pets at home £10 over charged so cash in bank £31 but have to get a £5 santa gift out of this any ideas for a bloke
    Inland revenue £4500=
    Loan £2610
    Pay day loans - 135+600+300+300
    Credit card 1 - 5186
    CC2 -1038
    CC3 - 548 cc4 234
    • doingitanyway
    • By doingitanyway 27th Nov 17, 10:00 PM
    • 2,204 Posts
    • 10,210 Thanks
    doingitanyway
    Well done on advertising your room. If that works out it will make all the difference
    JANUARY 2016/SECURED DEBT=24,822/November 2017=3,500
    MORTGAGE FREE 25/07/16
    • fay66
    • By fay66 28th Nov 17, 12:46 PM
    • 664 Posts
    • 1,579 Thanks
    fay66
    Update lodger moving in on Friday, seems ok, same age as me lol

    £300 more for this month fingers crossed it all happens then will update soa

    Need cat biscuits today normally go pets at home with discounts will do this buy in bulk and they seem to have a lot of dog mixer on offer
    not recieved vouchers this month which is strange
    Inland revenue £4500=
    Loan £2610
    Pay day loans - 135+600+300+300
    Credit card 1 - 5186
    CC2 -1038
    CC3 - 548 cc4 234
    • beanielou
    • By beanielou 28th Nov 17, 10:26 PM
    • 49,035 Posts
    • 182,067 Thanks
    beanielou
    Hope lodger works out well.
    If it does that will be just fab
    Can I suggest you have a chat about house rules.
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 2 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.*** ***Keep plodding***
    • doingitanyway
    • By doingitanyway 29th Nov 17, 8:27 AM
    • 2,204 Posts
    • 10,210 Thanks
    doingitanyway
    I agree with Beanie. House rules will avoid any confusion. Well done on taking a brave step to get yourself out of debt.
    JANUARY 2016/SECURED DEBT=24,822/November 2017=3,500
    MORTGAGE FREE 25/07/16
    • fay66
    • By fay66 29th Nov 17, 11:56 AM
    • 664 Posts
    • 1,579 Thanks
    fay66
    Thanks Beanie and Doing
    Yes i will say about house rules, he did say hes tidy,
    oh shucks I need to get a key cut forgot about this, my friend is supposed to be emailing me a contract
    Has any one got any pdf editable I can send this by email.

    Fay
    Inland revenue £4500=
    Loan £2610
    Pay day loans - 135+600+300+300
    Credit card 1 - 5186
    CC2 -1038
    CC3 - 548 cc4 234
    • enthusiasticsaver
    • By enthusiasticsaver 29th Nov 17, 12:09 PM
    • 4,848 Posts
    • 9,164 Thanks
    enthusiasticsaver
    Good idea to rent a room out. I agree house rules are good and getting a contract definitely a must.

    Maybe take your own lunch in as that would save you more than £70 per month.

    I would deal with that 118118 loan first. That interest rate is criminal and you are paying £165 interest per month so the balance must be going up.
    1 week to go until early retirement. Debt free and mortgage free.

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • redofromstart
    • By redofromstart 29th Nov 17, 12:29 PM
    • 624 Posts
    • 3,536 Thanks
    redofromstart
    Hi Fay, just came to say good luck.
    • fay66
    • By fay66 29th Nov 17, 5:38 PM
    • 664 Posts
    • 1,579 Thanks
    fay66
    Update
    Yes starting with 118, but ive got pay day loans as well at 297% which I didnt post, not going there again either
    found a free site for lodger with a contract, you can sign by computer email,
    My house is small to be fair, we will be bumping into each other a 2 bed terrace , going to tackle my clothes tomorrow I have ample that I dont wear and sort them for next year, I have to pack them away I do have a storage bed which will fit under he bed.

    The upside is my bedroom really needs a decorate wall paper pealing dirty white not too bad but got a friend to help in Jan and re decorate it,
    I have no spend Monday,tuesd, today i had to buy a secret santa for £5, wilkos I bought a mug as its a man with cocoa in case he doesnt drink etc was hard, bought a handful of decorations for my tree, just a branchy one this year which was a bargain of £29.99 I bought this previously, I also purchased sausage rolls which were cheaper to buy fresh than frozen, spend £19.12, in wilkos and £2.50 in iceland. also got some knock down persil for £2..50 neede some light bulbs for lamp which were £3 screwy ones a few chocolated for my daughters hamper im making for xmas, mum had a go about the tv about she doesnt watch it, so i might ask daughter again.
    im off to xmas party tonight at the biatric clinic, Im awaiting surgey which will be time off work.
    The lodger moves in Friday
    Inland revenue £4500=
    Loan £2610
    Pay day loans - 135+600+300+300
    Credit card 1 - 5186
    CC2 -1038
    CC3 - 548 cc4 234
    • beanielou
    • By beanielou 29th Nov 17, 6:35 PM
    • 49,035 Posts
    • 182,067 Thanks
    beanielou
    & my best lodger tip is to have regular 'house' meetings to iron out any niggles before they get too big.
    Hope you are also getting a months rent upfront.
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 2 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.*** ***Keep plodding***
    • fay66
    • By fay66 29th Nov 17, 11:49 PM
    • 664 Posts
    • 1,579 Thanks
    fay66
    Yes months rent up front beanie thanks,
    £1 spend on raffle tonight but won 4 pint glasses which I havent got
    Inland revenue £4500=
    Loan £2610
    Pay day loans - 135+600+300+300
    Credit card 1 - 5186
    CC2 -1038
    CC3 - 548 cc4 234
    • fay66
    • By fay66 1st Dec 17, 9:11 PM
    • 664 Posts
    • 1,579 Thanks
    fay66
    Lodger moved in today, all day sorting my bedroom out after being a full on tip, nsd, paid all bills except standing order, rang marbles, because their payment is £300 excess ,paid £50 and they will freeze any over limit charges as long as i pay the mimimum payment they will work out,for 6 months, has anyone heard of this.
    need to go iceland shopping tomorrow,
    yesterday had two keys cut £13
    morrisons £42, included £10 whiskey gift set , dog food etc and got bonus points for £40 spend.
    Inland revenue £4500=
    Loan £2610
    Pay day loans - 135+600+300+300
    Credit card 1 - 5186
    CC2 -1038
    CC3 - 548 cc4 234
    • redofromstart
    • By redofromstart 2nd Dec 17, 8:58 AM
    • 624 Posts
    • 3,536 Thanks
    redofromstart
    I did the bonus points for £40 spend as well, they keep suckering me in with those as I spend more than I intended.

    Hope your fur babies are coping ok with the cold? Mine were briefly outraged by the presence of a light sprinkling of snow.
    • fay66
    • By fay66 3rd Dec 17, 1:41 PM
    • 664 Posts
    • 1,579 Thanks
    fay66
    Afternoon Diary and all Mse readers.
    Sat iceland spend £40???? got a mini port gift £4.99 some other small bits for hampers, which I am now regretting as it is costing me a little.
    Also a massive Shortbread box £4, but did buy essentials in food for the comming week,
    Trip to Poundland, £1 napkins for party last night did spend £30 on quite a few proseccos £4 each, and taxi £5 , mini milk tray £1 for social group hosts,
    Gucci perfume came to parents who preceeded to open my father thinking a clock so fuming as the perfume is now cheaper on Boots deal
    Inland revenue £4500=
    Loan £2610
    Pay day loans - 135+600+300+300
    Credit card 1 - 5186
    CC2 -1038
    CC3 - 548 cc4 234
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