Tinkabell's Fresh Start...Eek!!

Tinkabell25

Hi, I'll do one in the next couple of hours and see what people think! Thanks!

Tinkabell25

SOA...
Monthly income after tax................ 1100
Partners monthly income after tax....... 1300 This varies dependent on overtime, This is minimum
Benefits................................ 0
Other income............................ 60 Petrol Money from Colleague
Total monthly income.................... 2460

Monthly Expense Details
Mortgage................................ 1003.78
Secured loan repayments................. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 143
Electricity............................. 20 This & Gas have risen but unaware of new prices yet
Gas..................................... 35
Oil..................................... 0
Water rates............................. 20
Telephone (land line)................... 11.5
Mobile phone............................ 50
TV Licence.............................. 20
Satellite/Cable TV...................... 53 Internet, phonecalls and sky boxes etc. Partner will not get rid of this but is in middle of renegotiating with sky
Internet Services....................... 0
Groceries etc. ......................... 300
Clothing................................ 5
Petrol/diesel........................... 330
Road tax................................ 20
Car Insurance........................... 50
Car maintenance (including MOT)......... 25
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 13
Pet insurance/vet bills................. 14.31
Buildings insurance..................... 13.65 Includes contents insurance
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 5
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 2142.24

Assets

Total Assets............................ 185000

Secured Debts
Description....................Debt......Monthly...APR
Mortgage... ...(1003.78)..5.88 4 yrs left
Total secured debts........... 169100....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Barclaycard....................1641......36........0% until June next year
Overdrafts.....................1200......0.........0 unsure of exact interest amount
Total unsecured debts..........2841......36........-

Monthly Budget Summary
Total monthly income.................... 2,460
Expenses (including secured debts)....... 2,142.24
Available for debt repayments........... 317.76
Monthly UNsecured debt repayments....... 36
Surplus(deficit if negative)............ 281.76

Personal Balance Sheet Summary
Total assets (things you own)........... 185,000
Total Secured debt...................... -169,100
Total Unsecured debt.................... -2,841
Net Assets.............................. 13,059

This looks fine but in reality spare money is eaten by the overdrafts.

Any

Hi Tinkabell,
That is not looking too bad.
What is the % on your overdraft? I had just taken cash transfer from MBNA c/card - 0% until September 09 with only 2.9% transfer fee to repay another of my c/cards. May be worth considering if you pay high % on your overdraft?? And you have 12 months to repay, which is quite all right.
My monies and my wages arrived today, so I am very rich for next couple of hours:-)) Until I transfer the payment for the old c/card!!!

Tinkabell25

Hi Any, I've been trying to understand whether or not there's a way to transfer an overdraft onto a credit card as that's where our problem is. My OH doesn't have a credit card and has excellent credit so he plans to get one. i don't want to take cash from my credit card as the fee's quite high. not sure what to do there! I've tried saving everywhere i can Have told OH that we are on a strict budget this month for food and i will not be taking my cards to work, just an emergency cash flow which will be strict. Gonna be a long month!!!

Any

Tinkabell25 wrote: »

Hi Any, I've been trying to understand whether or not there's a way to transfer an overdraft onto a credit card as that's where our problem is. My OH doesn't have a credit card and has excellent credit so he plans to get one. i don't want to take cash from my credit card as the fee's quite high. not sure what to do there! I've tried saving everywhere i can Have told OH that we are on a strict budget this month for food and i will not be taking my cards to work, just an emergency cash flow which will be strict. Gonna be a long month!!!

That is what I mean Tinkabell, MBNA transfers you cash to your current account! I applied over the internet, they approved me over the internet and then when the card arrived in the post I rung them to activate it and told them there and then: "I believe there is 0% interest untill Sep 09 for cash transfer into my current account, with 2.9% transfer fee only". "Yes madam, there is, give me your bank details and I transfer the cash". This was last Friday. Yesterday, the monies were in my account!
When you go on website, it says "0% on balance transfers, 0% on cash transfers, 0% on purchases, apply here!!", so you apply and then when the card comes the cash transfer is no longer mentioned. You have to call them for it.

Tinkabell25

Ah i see what you mean!!! In that case i think it will be worth doing this for us. Thanks!!!!!!!!!!! This would make such a difference if we could have a zero position. I will speak to OH tonight and see whether i an convince him...!

Any

Tinkabell25 wrote: »

Ah i see what you mean!!! In that case i think it will be worth doing this for us. Thanks!!!!!!!!!!! This would make such a difference if we could have a zero position. I will speak to OH tonight and see whether i an convince him...!

I hope the deal is still on, check the website or call them.
Good luck with clearing the overdraft!

Tinkabell25

I feel miserable. I just checked our online account with British gas and our payments are now £52 and £25. Ridiculous. Going to get OH to call them and sort this out as we have electric cooker, have cut our water use right back and don't use the heating at the mo!it doesn't make sense!!! Am so mad....!

Any

I know how you feel:-(
We have Aga in the house and our combined gas/electricity DD is now £185 a month!! Well, our's is not realy Aga, it's Rayburn, which means that it also heats the house and water, but still!:mad:

Tinkabell25

We've decided to change to quarterly billing as there is no way we're using that much gas. Am also looking at lowering our maintenance for the boiler just searching for the best deal at the moment. No luck on the 2nd job front so am going to stop looking for a while now. Am aiming to get to pay day only 150 o/d. Bearing in mind that's 3 1/2 weeks away i think i'm being too optomistic there!