The Never Ending Story

Toffee261104

Thanks so much Beasygirl and Lynne, those comments have really lifted me.

Again me and my husband spoke last night, really cleared the air about everything even things that I didn't think were a problem seem like massive ones to him so we sat down and talked everything through.

Regarding our debt we have come up with some new ideas for budgeting starting a week tomorrow which is when he gets paid. We have decided that:

-We are going to go through the cupboards and use what we have got in there for meals for as long as possible
-we are going to withdraw a set budget for the week and when it has gone it has gone
-we are allocating 'pocket money' each and we can spend it on ourselves
-we are giving our children pocket money and they can either save it or spend it
-once this week is over we are cutting up our credit cards

We also decided loads more stuff that isn't related to money, and we seem to be getting along better already

The only way is up....I realise we got a long way to go and its going to be hard but I think we will do it, we have to do it if another baby and a house is what we want.

Staciep88

Hi there,

I have just seen your post and have added a few things below:

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 463
Partners monthly income after tax....... 1200
Benefits................................ 193
Other income............................ 0
Total monthly income.................... 1856

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 475
Management charge (leasehold property).. 0
Council tax............................. 89 is this over 10 month? if so, could you look into spreading it over 12 months?
Electricity............................. 26 could you switch?
Gas..................................... 36 could you switch?
Oil..................................... 0
Water rates............................. 38.91 could you switch?
Telephone (land line)................... 25 could you a package deal with telephone, sky and internet?
Mobile phone............................ 15 is this the lowest tarrif?
TV Licence.............................. 11.61
Satellite/Cable TV...................... 36 could you get a package deal with telephone, sky and internet?
Internet Services....................... 30 as above
Groceries etc. ......................... 270 look on the saving money old style board for cheap and yummy recipes!! Also, when you go shopping - try shopping down a brand
Clothing................................ 10 For children I presume? Primark would be good as its cheap not bad quality and they grow outa them fast anyway
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 16
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 18 could you switch?
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 15 cut back to £10 maybe?
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1111.52

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

No Secured Debt

Unsecured Debts
Description....................Debt......Monthly.. .APR
Abbey loan.....................21844.6...383.2.....19.9
Barclaycard....................851.98....15....... .29
Argos..........................222.43....10....... .27
Overdraft......................1250......13....... .0
Littlewoods....................674.98....61....... .0
Total unsecured debts..........24843.99..482.2.....-
Are you able to apply for a 0% Balance Transfer card to switch some of the balances to?
Monthly Budget Summary
Total monthly income.................... 1,856
Expenses (including secured debts)....... 1,111.52
Available for debt repayments........... 744.48
Monthly UNsecured debt repayments....... 482.2
Surplus(deficit if negative)............ 262.28 Good

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total Secured debt...................... -0
Total Unsecured debt.................... -24,843.99
Net Assets.............................. -24,843.99

shopaholictiedtheknot

Hi Toffee, just been reading your thread and wanted to say good luck with tackling your debts it sounds like you are already making headway :T

Toffee261104

Thanks Stacey, wish i could change the deals with tel/int/tv but we are tied in a contract so cant will look intot he balance transfer though....but we might not be able to get a credit card as we have so much stuff on credit at the minute

Thanks shopaholic, I feel a bit like a person addicted to spending, and I've finally realised it and am now facing my problems!

they should have debt annonymous never mind AA!

Toffee261104

Just had a nosey around on the site and have joined a mystery shopping company to help with my August £10 a day challenge! I thought I wouldnt get an assignment but within an hour I have been given my first one!!!

Whooooooop

I gettin paid a tenner to pop into a shop in town (have to go town anyways on monday)

Fanbluddytastic.

On the down side we are having to live off the credit card for a week till my husband gets paid So my debt is actually going up...not down!!

Keeping_Motivated

Hi toffee

Well done on the mystery shop.

I suppose the key with having to use the credit card this week is literally working out what you will need and only using it for ESSENTIALS. And from payday you can then start your new budget.

KM x

Toffee261104

yeah i know what you mean, still in wrong frame of mind though, thinking 'well i'm starting next week so may as well blow some' bad i know but hey the more i spend now the more i have to pay off

firesidemaid

having the pocket money is a good idea - then you will both have to prioritise, both individually and between you.

me and OH have a set amount - it's too much for me and Oh could spend his ten times over!:rolleyes:

we used to use a credit card for everything which we paid off every month - but even though we have good wages, there was nothing left at the end of the month.

i have now just done a great BT deal on the c/card (fee free and the sum is sitting in a high interest savings account), which means we cannot spend on it. finally OH is realising what 'no' means - without me feeling bad about it as we don't have a choice.

think about every penny you spend - do you really need it?

good luck x

beasygirl

Nice to see you looking a bit more positive this evening, getting the mystery shop after only just applying is an excellent sign things are on the up for you, Well done hun!!

Toffee261104

Ok, big shocker came today

My sister rang me up in tears as she struggling with money, I can't believe how close to home this actually is and how people put on brave faces when they are crumbling on the inside.

Anyways we talked for aages and I explained to her about how I have had my LBM and think she has just had hers, told her all my ideas for saving and paying off debts (all of which came from you lot so thanks guys!) told her about this website (dont think she will check it out though, she'll probably feed off me for information) and I am going to help her out.