n2b's debt free diary....... £29,508 in debt

need2bfreeofdebt

Hope you dont mind me starting my own thread here... just feel if i keep writing on here it may give me the encouragement to go on...
I have been lurking on this site for a few months now and it is definatly in my top rated websites.... i am becoming a bit addicted actually (:

My finances are a mess and i want to become debt free in about 5 years.....

just found out today that we owe the tax credits money too so now i am having to do without even less money a month...

my one good thing i have done today is to sign up for a childcare voucher scheme that i can pay my nursery fees through which i am hoping will save me a bit (:

roll on to being debt free ( i am trying so hard to keep thinking positive! )...

it is about £30k we want to pay off in 5 years... eek x

anyone know how i get the little task bar thing on the bottom of my page that shows my debt total and when it will be paid off ( as a little motivator to be debt free??? )

better go and blast the house with the hoover before LO finishs nursery!

**Amy**

:hello:

Welcome and good luck with your debts.

If you want to edit your signature go to USER CP above and go to edit signature.

Have you posted an SOA? Might be worth doing that if you havent

http://www.makesenseofcards.com/soacalc.html

xx

need2bfreeofdebt

Thank you Amy x

My SOA as follows...

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 700
Partners monthly income after tax....... 1500
Benefits................................ 0
Other income............................ 100
Total monthly income.................... 2300

Monthly Expense Details
Mortgage................................ 450
Secured loan repayments................. 0
Rent.................................... 45
Management charge (leasehold property).. 20
Council tax............................. 130
Electricity............................. 60
Gas..................................... 50
Oil..................................... 0
Water rates............................. 25
Telephone (land line)................... 15
Mobile phone............................ 25
TV Licence.............................. 11
Satellite/Cable TV...................... 30
Internet Services....................... 10
Groceries etc. ......................... 200
Clothing................................ 0
Petrol/diesel........................... 80
Road tax................................ 20
Car Insurance........................... 70
Car maintenance (including MOT)......... 0
Car parking............................. 8
Other travel............................ 0
Childcare/nursery....................... 200
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 20
Life assurance ......................... 25
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1514

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 5000
Other assets............................ 0
Total Assets............................ 5000

Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(450)......0
Total secured debts........... 0.........-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
AA loan........................9000......135.......8.9
loan no 2......................2761......128.......12.9
Barclaycard....................400.......30.........19
smile visa.....................2120......50........8.9
citicard.......................4000......140.......0
alliance leicester ............1300......50........8
barclaycard....................4000......120.......12.9
ikea...........................200.......30........20.9
next...........................500.......90........16.9
mum............................3000......0.........0
mums credit card...............5000......130.......0
GE capital loan................3500......78........11.5
Total unsecured debts..........35781.....981.......-

Monthly Budget Summary
Total monthly income.................... 2,300
Expenses (including secured debts)....... 1,514
Available for debt repayments........... 786
Monthly UNsecured debt repayments....... 981
Surplus(deficit if negative)............ -195

Personal Balance Sheet Summary
Total assets (things you own)........... 5,000
Total Secured debt...................... -0
Total Unsecured debt.................... -35,421
Net Assets.............................. -30,421

Oh no it is much much worse than i thought..

I dont know where to start now... i did a SOA before but forgot to include the road tax ( divided by 12.. think it is about £60 every 6 months .. have included this as 20 a month for 2 cars )...

Any help appreciated... am in a right mess but desperatly want to gain control of this awful situation... i feel sick x

flutterbyblue

I know exactly how you feel. My and my OH got married in June and we've got over £30k debt between us in credit cards, car loans and overdrafts. We both run our own businesses so money can be really tight and sometimes it just feels so hard. BUT you've made the first step in assessing it all and I always think the fact that I want to do something about it is the biggest step. I know the facts - just gotta get on with it now!

icka

:wave:Hon and very welcome to the boards. Well done for posting and having your LBM. Here is a big dodgy hug from all of us at DFW :grouphug: .

You have made a really good start and posting your SOA straight away is great, took me ages.

The wise old owls of the board will be along soon to have a look and help you through your SOA. Just wanted to say Hi and say welcome and you are not alone. There are people alot lot worse than you. So big mug of tea and a choccie bikki if you have any and al will be ok

xx icka

tyllwyd

Looking at your SOA, nothing jumps out as being extravagant. I think the best thing for you to do will be to talk to one of the debt charities asap so that they can advise you on what to do next - if you carry on as you are, things will only get worse.

need2bfreeofdebt

aw thank you for your welcoming messages x

it is still quite scary everytime i look at the soa... but i really want to get in control of this if we can x

i also have a e-on bill for £300 at the mo, a bt bill for £180 and cannot afford to pay my next bill £96 and my barclaycard £30 this month at all... ( had tax credits stopped too... thats another nightmare! )..my mum says i should ring up e-on and set up a direct debit which i hope they will ( which i have budgeted for in my soa.. hoping it wont be any more than i have put per month! ).... going to try and be brave and ring them over the next few days... ( its silly isnt it but i get so scared of ringing! )......

oh dear what a mess.... better go and decorate some cupcakes with my little one.... be back soon when she is in bed! x

need2bfreeofdebt

What a day... had a massive LBM... cannot believe how much debt we have got... really thought it was about £15k at the most... i must win the best ' i will continue to bury my head in sand ' award...

have been reading a few other threads on here and i am looking at them all for inspiration...

Right from now on I am not going to spend money on things i dont NEED ( i need to realise the difference between NEED and WANT! )..... ( well i am going to try 110%! )

Need to decide what to do with my dilema of booking flights to see OH's parents ( they live in Oz ) ..... they have never seen our LO ( she is now 3 ) ..... they cannot travel over here due to finances and ill health.... i know we cannot afford it ( i work for an airline and we can all get there for about £1400 for 3 of us in January ).... this offer may not be around next year so would cost us about £2800 next year.... also LO will be at school then... oh no what to do........

need2bfreeofdebt

Hello...

Started off the day really well.... decluttered my box room ( aka junk room! ) and put stuff in the loft with OH's help... moved my computer in there, put up a shelve, organised work folders neatly on this, just have to go through my bills etc to file away now and will have the bills organised... so was really pleased cos now we have a study and not a junkroom anymore!

Anyway just got back from a quick trip to home bargains and spent £18 on cleaning stuff, OH bought some sweets, a new mop for the kitchen etc and OH put it on his credit card ): Knew when i was in there i didnt want to spend alot but its so bad, its like an addiction... must have it is a bargain... everything goes out the window and bang another £20 down the drain ( although did need kitchen towels, cleaning stuff... bought some stardrops after reading about them on the OS board... really worked on my floor, impressed! ).......

ArggggH need to stop spending!

Am so annoyed with us also when out bought little one a portion of chips and a gingerbread man from bakers and we wonder where our money goes! Suppose its these little things that add up... i need to learn! x x x

Sorry for the rant.... hope everyone is doing better than me! x

need2bfreeofdebt

I dont know what is up with me... have spent nearly ALL afternoon and evening sorting out ALL our paperwork, have filed it all away in a mini filing cabinet and put it ALL in alphabetical order.... !! ( for the first time ever in my 29 years! )

Done a proper snowball calulator too... actual debt stands at 29,508!

Even though I know we have very little money left at the end of the month I am inspired by doing all this today and feel in control....

Thanks to this website!

:T