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  • FIRST POST
    • Sunkencosts
    • By Sunkencosts 8th Jan 18, 4:56 PM
    • 71Posts
    • 80Thanks
    Sunkencosts
    Sunken's attempt to float...
    • #1
    • 8th Jan 18, 4:56 PM
    Sunken's attempt to float... 8th Jan 18 at 4:56 PM
    Right, anyone who thinks they have a lot of unsecured debt on their SOA prepare to be stunned, amazed and horrified at this bad boy!



    Household Information
    Number of adults in household........... 2
    Number of children in household......... 2
    Number of cars owned.................... 1

    Monthly Income Details[/b]
    Monthly income after tax................ 1300
    Partners monthly income after tax....... 2328
    Benefits................................ 137
    Other income............................ 0
    Total monthly income.................... 3765

    Monthly Expense Details
    Mortgage................................ 671
    Secured/HP loan repayments.............. 0
    Rent.................................... 0
    Management charge (leasehold property) 0
    Council tax............................. 133
    Electricity............................. 77
    Gas..................................... 77
    Oil..................................... 0
    Water rates............................. 45.75
    Telephone (land line) 24
    Mobile phone............................ 10
    TV Licence.............................. 12
    Satellite/Cable TV...................... 0
    Internet Services....................... 0
    Groceries etc. ......................... 400
    Clothing................................ 30
    Petrol/diesel........................... 120
    Road tax................................ 16.62
    Car Insurance........................... 25
    Car maintenance (including MOT) 50
    Car parking............................. 0
    Other travel............................ 0
    Childcare/nursery....................... 160
    Other child related expenses............ 88
    Medical (prescriptions, dentist etc) 10
    Pet insurance/vet bills................. 25
    Buildings insurance..................... 18.45
    Contents insurance...................... 0
    Life assurance ......................... 50
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 30
    Haircuts................................ 20
    Entertainment........................... 150
    Holiday................................. 50
    Emergency fund.......................... 50
    christmas saving........................ 50
    grading fees............................ 30
    Total monthly expenses.................. 2422.82


    Assets

    Cash.................................... 0
    House value (Gross)..................... 200000
    Shares and bonds........................ 0
    Car(s).................................. 400
    Other assets............................ 0
    Total Assets............................ 200400

    Secured & HP Debts

    Description....................Debt......Monthly.. .APR
    Mortgage...................... 149588...(671)......2.89
    Total secured & HP debts...... 149588

    Unsecured Debts
    Description....................Debt......Monthly.. .APR
    Mum loan 1.....................11585.....331.......0
    mum loan 2.....................12852.....252.......0
    shawbrook loan.................15001.....231.......7.6
    credit card....................12000.....450.......0
    ikano..........................2500......69.45.... .0
    Total unsecured debts..........53938.....1333.45

    Monthly Budget Summary
    Total monthly income.................... 3,765
    Expenses (including HP & secured debts). 2,422.82
    Available for debt repayments........... 1,342.18
    Monthly UNsecured debt repayments....... 1,333.45
    Amount left after debt repayments....... 8.73

    Personal Balance Sheet Summary
    Total assets (things you own)........... 200,400
    Total HP & Secured debt................. -149,588
    Total Unsecured debt.................... -53,938
    Net Assets.............................. -3,126


    This is not a SOA of how things actually are at the moment, but how I'd like them to be from next month onwards. I could give you a picture of how things are at the moment, but it would be more akin to an internet meme showing a car falling off a pier or something.

    We have LOADS of debt, but do you know what? I'm not actually that disheartened. A lot of that debt was accrued through buying our house (had to borrow deposit) and then doing it up.

    For that debt we have a house with a new bathroom, new double glazing, new kitchen and redecorated, including installing a log burner.
    But now we have to sit in that house and never go out

    Very irresponsible.

    I have started and chopped and changed jobs recently, so my pay is a bit of a mystery and my tax code is so mangled even the bloke at HMRC sounded depressed when he tried to explain it to me, at one point he said I seemed to owe 11k in tax, which as I only earned 13k last year seemed a little unlikely, so I'm sitting tight til April when it will be one job, one tax code and potentially a small rebate due.

    I really really really want to build up car/emergency/christmas funds. So bored of the December disaster and post christmas blues, which is where I am currently sitting. Doesn't help that my current car is MOTd in December!

    We're lucky in that my OH has a company car and fuel card, naturally we pay highly in tax for it, but it does mean that on family trips/holidays we don't have to factor petrol into the equation.

    My own car is a tiny rustbucket and kind on fuel, but liable to break at any moment.

    Trying to decide what budget software to use. I got on quite well with YNAB last year when I had a free trial, but then it seemed to be costing over a fiver a month and it seems a bit daft to pay for that, so I'm looking around for something else.

    Any thoughts and questions welcome. I think my fuel seems a little high, so am going to submit up to date meter reading and then potentially switch suppliers.

    Phone and internet together are 25 - seems ok.

    I've set the intended cc repayment high because I'd like to pay it off in 2 years. Of course the actual minimum will be much lower, but I figure if we pay it off asap then suddenly we have another 450 a month to snowball with.

    Life insurance is high because my OH is not the slimmest chap and only a few companies will offer him insurance. Only 9.76 of that figure is mine.

    Buildings and contents are included together.

    I genuinely think that's not an unrealistic budget but more experienced people can give me their thoughts?
Page 5
    • Bigskies
    • By Bigskies 3rd Feb 18, 6:32 PM
    • 88 Posts
    • 309 Thanks
    Bigskies
    I Haven't got a green profile button on the right

    I have an orange one on the left but I have to go through to profile and then settings and then subscribed lists. This makes me sad.

    I shall overcome this however -
    Originally posted by Sunkencosts
    I use my iPad and so maybe it’s different?
    Jan 2018 £68,274 Mar 18 £65,867
    Percentage of total debt paid 3.5%
    2018 target £10k So far: £2407
    Monthly target £833 January £1129 Feb £1278
    POAYDBX18 #124 £2407/10,000
    • Sunkencosts
    • By Sunkencosts 3rd Feb 18, 10:42 PM
    • 71 Posts
    • 80 Thanks
    Sunkencosts
    Going through noddle today found my OH had a credit card and current account with LLoyds from 2008 - at an old address - who knew?!
    Phoned to get those closed, which was entertaining as we had absolutely no info about them. Credit card had a balance of nearly £3. Cash back!!
    Savings:
    Emergency 100/1000 Car 100/600 Christmas 100/1000 Holiday 100/600
    Grading 120/120
    • Sunkencosts
    • By Sunkencosts 3rd Feb 18, 10:45 PM
    • 71 Posts
    • 80 Thanks
    Sunkencosts
    We caught ourselves in some old bad habits tonight though.
    Started planning an inexpensive meal out at the end of the month. Which then turned into maybe a posh meal out and a cheap overnight stay somewhere. Then we started looking at groupons and secret escapes. Suddenly £250 started to seem very reasonable for dinner bed and breakfast in a country house hotel.
    Then we caught ourselves in this behaviour and closed the internet windows.......
    Savings:
    Emergency 100/1000 Car 100/600 Christmas 100/1000 Holiday 100/600
    Grading 120/120
    • Sunkencosts
    • By Sunkencosts 4th Feb 18, 9:02 PM
    • 71 Posts
    • 80 Thanks
    Sunkencosts
    Lidl shop today, 60 instead of planned 50 but I made the mistake of straying into middle aisles! I spent ten pounds on two electric toothbrushes for me and dh. Been meaning to get some for a while, so am pleased with these.
    Funds running low in Bank though, and the bacs payment hasn't arrived yet..... Another call to payroll tomorrow I think! Not good enough.
    Haven't exercised today - just too tired from night shift really, but have eaten well and batch cooked some bolognese, so don't feel too useless.
    Bring on the next week!
    Savings:
    Emergency 100/1000 Car 100/600 Christmas 100/1000 Holiday 100/600
    Grading 120/120
    • Sunkencosts
    • By Sunkencosts 6th Feb 18, 7:40 AM
    • 71 Posts
    • 80 Thanks
    Sunkencosts
    Noticed some strange habits of mine rearing their head today.

    Was looking at raised airbeds for camping. Ours has a puncture somewhere (impossible to find on a king size raised airbed unless you throw it into a swimming pool) and so I will need to get one before our camping trip in June

    So, was looking at them all, and think I've decided on the one I want when I started considering whether I should put in on credit, I. E get an argos card, catalogue payments etc.

    Somehow I've got in my weird little brain that paying it off little by little makes it somehow more affordable, and we won't notice it. Whereas paying cash (which I could do with money from our holiday budget) would feel like it was too expensive at the moment.

    Wtf?

    I've earmarked it to come back to in a couple of months, when I will hopefully have given my head a wobble and realised if I don't want to pay for it using my money instead of someone else's, then I don't really want it.....
    Savings:
    Emergency 100/1000 Car 100/600 Christmas 100/1000 Holiday 100/600
    Grading 120/120
    • Sunkencosts
    • By Sunkencosts 7th Feb 18, 7:59 AM
    • 71 Posts
    • 80 Thanks
    Sunkencosts
    Finally got paid the last part of my salary today, and it leaves us a bit better off than we need to be to survive the rest of the month. I know from experience if we feel too comfortable we take our eye off the ball with spending, so I have skimmed £250 off and added it to savings pots. This leaves us roughly where we would be with savings if we had started our budget from December/January. Also means the money is there if I have hideously miscalculated and we start to starve in a fortnight.

    Set up new bank account with First Direct today. When my salary goes in at end of month they will add the £125. Happy days!
    Savings:
    Emergency 100/1000 Car 100/600 Christmas 100/1000 Holiday 100/600
    Grading 120/120
    • Sunkencosts
    • By Sunkencosts 7th Feb 18, 8:39 AM
    • 71 Posts
    • 80 Thanks
    Sunkencosts
    SO this week is the first week of my new working regime.

    I had two job, did one three days a week for 6 hours a day, then the other was ad hoc as long as I did at least six hours. Job one I commute to a set place and job two was peripatetic - i.e had to travel round to different places (more of a freelance thing).

    I found out that job 1 had work I could do from home at a higher rate (£20 an hour) whereas job 2, although the work is more interesting was only £13 per hour and less regular. So i was finding that on one day I could be driving for 45 mins, do 1 hour session and driving home. Neither travel nor fuel was covered. This made no sense at all. So i finished up with my last client last week and now I have two spare days midweek -
    If i do two hours work on each of them that's £80 and I still have most of those days to myself and to keep on top of housework. I could do more than 2 hours, but we're trying hard to find a balance as a family, and actually keeping on top of debt is easier when I have time to plan, shop and clean (and snooze in front of fire with a book!).

    So today it's kids at school, 2 hours work and then the day is mine!!!
    Savings:
    Emergency 100/1000 Car 100/600 Christmas 100/1000 Holiday 100/600
    Grading 120/120
    • Sunkencosts
    • By Sunkencosts 8th Feb 18, 2:34 PM
    • 71 Posts
    • 80 Thanks
    Sunkencosts
    Had planned lots of energetic things to do today, then typically only managed about 2.5 hours sleep for no apparent reason. Feeling wiped out and under weather today. Luckily having today mainly free means I have been able to do the hot bath/paracetamol/chill out in bed for a few hours.

    Exercise has fallen by the wayside a bit. Despite keeping alcohol free and sticking to my diet I don't yet seem to have got the sleep/energy balance quite right. Will keep trying.

    Been reading lots of diaries and going over our figures again. It's that frustrating time of the month when all that can be done has been done and we're now just waiting it out for 20 days til payday!

    I've made one decision though - we have tickets for a London show end of this month (bought as a birthday present for OH last year). It's one we've seen several times but is my husband's favourite.

    We're struggling to get childcare for the day, and were looking at having to pay for babysitters, so I've told him to take someone else. I don't mind missing the show - I'd rather that than the stress and expense of organizing childcare for an entire Saturday. Plus, if he gives his ticket to a friend and drives them there then there is a good chance that they might treat him to lunch which will also save money (if it was up to me I'd pack a lunch but as it's his birthday treat it would be mean to begrudge him a subway or similar!). So, we'll see if either he finds someone to go with or a member of our family steps in to help. Either way, I don't want the whole day costing in excess of £100 right at the end of the month.

    Also going to be booking our camping trip for June this month. Pitch will cost £163 for 4 nights, which is quite expensive but it's a great place we're going to with loads to do for the kids so I'm happy with that. We're taking them out of school for 2 days too - slapped wrists all round!!
    Savings:
    Emergency 100/1000 Car 100/600 Christmas 100/1000 Holiday 100/600
    Grading 120/120
    • Bigskies
    • By Bigskies 8th Feb 18, 4:11 PM
    • 88 Posts
    • 309 Thanks
    Bigskies
    Love camping! We do a fair bit, weekends and so on. Will you you get the kids out for free, or will you get fined? I!!!8217;m very much looking forward to when we can holiday off peak again!
    Jan 2018 £68,274 Mar 18 £65,867
    Percentage of total debt paid 3.5%
    2018 target £10k So far: £2407
    Monthly target £833 January £1129 Feb £1278
    POAYDBX18 #124 £2407/10,000
    • Sunkencosts
    • By Sunkencosts 8th Feb 18, 4:14 PM
    • 71 Posts
    • 80 Thanks
    Sunkencosts
    I think it will be fine. Our school is very sensible about things like that and the trigger is 10 sessions missed, I. E 5 days.
    Kids will only miss 4 sessions - so as long as we let the school know where they will be it should be fine.
    Savings:
    Emergency 100/1000 Car 100/600 Christmas 100/1000 Holiday 100/600
    Grading 120/120
    • Sunkencosts
    • By Sunkencosts 10th Feb 18, 9:31 AM
    • 71 Posts
    • 80 Thanks
    Sunkencosts
    Feeling good today - still in bed having had breakfast in bed (always helps to start the day off right!).
    My husband is going to a football match this afternoon and we had a serious conversation about the best way to keep the cost down - i.e drive self, pay parking or get a lift, but have to buy that person a drink etc.
    It feels so good to know that he's taking it as seriously as me. Also, he hasn't spent anything all week as he's trying hard to schedule lunch meetings so he can put the food on company credit card that's my boy!
    As for me, I have no desire to spend anything, but it's amazing how easy it is to get drawn into buy and sell facebook pages etc. Always see stuff I want at really good prices, and yet two seconds later I've forgotten about it. It's the urge in the moment I have to be careful of - I'm so impulsive!

    There's still a perfume I really want that no one got me for xmas/birthday despite asking for it - but perfume seems like such an indulgent thing. Really need to sell some stuff to raise some funds to treat myself. I have to police myself, as I'm in sole control of the budget so no one would even notice or query if I bought it - but it feels like it matters that it doesn't come from family money.

    Maybe I'm over thinking it, it's only £30, but still, feels like a principle.

    That's the problem with having a birthday at xmas time - If you don't get something you've asked for you have to wait a whole year!!
    Savings:
    Emergency 100/1000 Car 100/600 Christmas 100/1000 Holiday 100/600
    Grading 120/120
    • Sunkencosts
    • By Sunkencosts 10th Feb 18, 9:32 AM
    • 71 Posts
    • 80 Thanks
    Sunkencosts
    Right, goal this morning - spend at least one hour sorting out and listing some stuff to sell! My daughter has a little friend coming over so I can do that whilst they are destroying the house together
    Savings:
    Emergency 100/1000 Car 100/600 Christmas 100/1000 Holiday 100/600
    Grading 120/120
    • Sunkencosts
    • By Sunkencosts 10th Feb 18, 11:34 AM
    • 71 Posts
    • 80 Thanks
    Sunkencosts
    Have stuck posh shoes on recommended fb site and also some stuff on my local fb site. Just can't seem to bear ebay now with all the fees - think I'd rather do a car boot sale or something.
    Savings:
    Emergency 100/1000 Car 100/600 Christmas 100/1000 Holiday 100/600
    Grading 120/120
    • Sunkencosts
    • By Sunkencosts 10th Feb 18, 11:50 AM
    • 71 Posts
    • 80 Thanks
    Sunkencosts
    Still debating about budget software - I think YNAB looks the best, and I did like it when I tried it, but I hated having to pay (and also extra because my bank charged about 1.50 for paying in dollars to the site).
    Savings:
    Emergency 100/1000 Car 100/600 Christmas 100/1000 Holiday 100/600
    Grading 120/120
    • Sunkencosts
    • By Sunkencosts 10th Feb 18, 1:34 PM
    • 71 Posts
    • 80 Thanks
    Sunkencosts
    Right gone for 60 day trial and I'm currently sitting and swearing at it. Fun fun fun on a Saturday
    Savings:
    Emergency 100/1000 Car 100/600 Christmas 100/1000 Holiday 100/600
    Grading 120/120
    • Sunkencosts
    • By Sunkencosts 13th Feb 18, 2:18 PM
    • 71 Posts
    • 80 Thanks
    Sunkencosts
    Been a spendy couple of days - nothing too major though. OH has bought a second hand wii mini set up. We used to have a wii around a decade ago (didn't everyone?) but then that got sold off in one of our various moves, but kids are of an age to find it fun now - was only £30 and if it helps to entertain them during half term as we have no trips planned then I'm fine with it.

    Had people over for lunch on Sunday, so spent a little extra on a joint of meat etc - but we're both really conscious of keeping costs down at the moment.

    Re the theatre trip, a family member has kindly said she will take the kids overnight so we can still go together. OH was all set to look for a cheap hotel room, but I've said that we can come home and then have a takeaway pizza as a treat and that seems to have worked! I probably won't have the pizza as I'm hoping to still be eating healthily, so realistically he can't spend much more than £20 on his own can he?!?

    Still not drinking any alcohol, and I think the diet is going well. I don't weigh myself but have lost 2 inches around my waist and clothes are fitting a bit better. Just want to keep this up so when we go camping I can fit into the many pairs of cropped jeans in my wardrobe rather than needing to buy anything new.

    We were toying with the idea of OH 'buying' additional annual leave - but today they have told him it will work out at £72 per month over the year for 5 days. That works out at about £150 a day - so considerably more than we would spend on childcare if we had to cover it during the holidays so it's a no brainer really. Apart from the odd camping weekend we haven't got any large blocks of time we both need to be off, so I'm hopeful we can cover the school holidays between us - just need to see it as another symptom of our debt and the sooner we get out of debt the sooner we can enjoy much more time off together.

    Youngest is poorly today - high temperature and aches etc, so we wouldn't be going far today even if we were millionaires. Luckily her brother is more than happy to slop around in his onesie eating cereal and playing on his computer.
    Savings:
    Emergency 100/1000 Car 100/600 Christmas 100/1000 Holiday 100/600
    Grading 120/120
    • Sunkencosts
    • By Sunkencosts 13th Feb 18, 2:20 PM
    • 71 Posts
    • 80 Thanks
    Sunkencosts
    I think YNAB will work for us. I haven't got to grips with most of its tricks etc yet, but simply to have a record of all spends from all accounts with a memo attached detailing what they were all for is a great thing to have. At some point I will sit down and learnt to use it properly.
    Savings:
    Emergency 100/1000 Car 100/600 Christmas 100/1000 Holiday 100/600
    Grading 120/120
    • Sunkencosts
    • By Sunkencosts 15th Feb 18, 2:30 PM
    • 71 Posts
    • 80 Thanks
    Sunkencosts
    Grrr at bank account shenanigans. Everytime I log in to check it against YNAB there has been some random change. Today a transaction that should have cleared has disappeared completely! I know it will be back so I shall leave YNAB unchanged but they're making me look a fool!

    I dream of the day that YNAB's version of my current account and my bank's version of my current account match, Sadly my a/c is one that won't automatically download transactions....Perhaps that's why YNAB will help us to save - because it's such a hassle recording transactions and whether they're cleared or not that we'll be tempted not to spend in the first place!
    Savings:
    Emergency 100/1000 Car 100/600 Christmas 100/1000 Holiday 100/600
    Grading 120/120
    • Walaboobah
    • By Walaboobah 15th Feb 18, 4:45 PM
    • 286 Posts
    • 208 Thanks
    Walaboobah
    Going through noddle today found my OH had a credit card and current account with LLoyds from 2008 - at an old address - who knew?!
    Phoned to get those closed, which was entertaining as we had absolutely no info about them. Credit card had a balance of nearly £3. Cash back!!
    Originally posted by Sunkencosts
    Any PPI on it? Got to be worth a try...
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