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Getting there slowly but more hep needed!!!!!!
BertyUK
Posts: 7 Forumite
Hello.
I been watching the forums for a few months and have now decided i wanna be debt free. Since reading all the posts ive decided i need to kill my 10k credit card debt. I have reviewed my SOA and i will be happy to post within the next few days for advice on further savings (please post the best best link for this). currently all my CC debt is on interest free and I have an offset mortgage (One account) and any saving made here are payed on the CC debt including stooze profits (I know stoozing is bad with CC debt but as i see it you can rob peter to pay peter back
so far this is an extra 40 a month with the offset. any more advice would be good.
Cheers
Rob
I been watching the forums for a few months and have now decided i wanna be debt free. Since reading all the posts ive decided i need to kill my 10k credit card debt. I have reviewed my SOA and i will be happy to post within the next few days for advice on further savings (please post the best best link for this). currently all my CC debt is on interest free and I have an offset mortgage (One account) and any saving made here are payed on the CC debt including stooze profits (I know stoozing is bad with CC debt but as i see it you can rob peter to pay peter back
so far this is an extra 40 a month with the offset. any more advice would be good.Cheers
Rob
1/11/2007 Mortgage 173,188.00
1/7/2008 Mortgage 170,547.59
1/7/2008 Offset Balance 163,543.00
Original End date 1/11/2032 Bad Times
Current End date 1/9/2029 Good Times
Stooze Pot £5,550 offset against above
1/7/2008 Mortgage 170,547.59
1/7/2008 Offset Balance 163,543.00
Original End date 1/11/2032 Bad Times
Current End date 1/9/2029 Good Times
Stooze Pot £5,550 offset against above
0
Comments
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Hi berty welcome to DFW. There is a link here for a SOA calculator that lets you cut and paste it direct to this forum.
Sorry cant give any help on stoozing or offsetting as thats way over my head! x xPay Debt by Xmas 16 - 0/12000
There is something about the outside of a horse that is good for the inside of a man.0 -
Hope this is correct!
Statement of Affairs and Personal Balance Sheet
Monthly Income Details
Monthly income after tax................ 2400
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2400
Monthly Expense Details
Mortgage................................ 1245
Secured loan repayments................. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 101
Electricity............................. 25
Gas..................................... 28
Oil..................................... 0
Water rates............................. 26.07
Telephone (land line)................... 41
Mobile phone............................ 35
TV Licence.............................. 9.95
Satellite/Cable TV...................... 19
Internet Services....................... 10
Groceries etc. ......................... 0
Clothing................................ 0
Petrol/diesel........................... 0
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).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 23.33
Contents insurance...................... 0
Life assurance ......................... 16
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1579.35
Assets
Cash.................................... 2700
House value (Gross)..................... 180000
Shares and bonds........................ 300
Car(s).................................. 13000
Other assets............................ 0
Total Assets............................ 196000
Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 170500...(1245).....7.45
Total secured debts........... 170500....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
MBNA...........................5670......171.......0
Abbey..........................748.......5.........0
Halifax........................6893......137.......0
Car............................15000.....398.......0
Total unsecured debts..........28311.....711.......-
Monthly Budget Summary
Total monthly income.................... 2,400
Expenses (including secured debts)....... 1,579.35
Available for debt repayments........... 820.65
Monthly UNsecured debt repayments....... 711
Surplus(deficit if negative)............ 109.65
Personal Balance Sheet Summary
Total assets (things you own)........... 196,000
Total Secured debt...................... -170,500
Total Unsecured debt.................... -28,311
Net Assets.............................. -2,8111/11/2007 Mortgage 173,188.00
1/7/2008 Mortgage 170,547.59
1/7/2008 Offset Balance 163,543.00
Original End date 1/11/2032 Bad Times
Current End date 1/9/2029 Good Times
Stooze Pot £5,550 offset against above0 -
You dont have anything for car related costs in your SOA?I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.
Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
"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. ***Keep plodding*** Out of debt, out of danger.
One debt remaining. Home improvement loan. 21 months left.0 -
My car is fully expensed apart actually paying for it.
Rob1/11/2007 Mortgage 173,188.00
1/7/2008 Mortgage 170,547.59
1/7/2008 Offset Balance 163,543.00
Original End date 1/11/2032 Bad Times
Current End date 1/9/2029 Good Times
Stooze Pot £5,550 offset against above0
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