Advice Needed Please

kayleigh_b69

Hi all,

Im new to dfw but im in a sticky situatuin at the moment and quite frankly cant see light at the end of the tunnel.

Right im 21 not in loads of debt but enough at the moment - here goes

Credit Card Balance - £300 Limit is £300
Storecard Balance - £70
Catalogue Balance - £454
Overdraft Balance £300 - Limit is £300

I was paid my wages yesterday an at the moment have a balance of +£70 left once all my direct debits are paid i will be up to my overdraft limit of -£300 an still have my catalogue bill to pay with a min pay of £154.

I know it prob doesnt seem much but to me i cant see how im gonna get through the month an pay all my bills an stuff.

So basically im just looking for a bit of advice as to how i can make my money go further and pay my bills off asap

Thanks in advance

xx

eco

have you seen the thread how to make £10 a day, just read through the posts and there's loads of tips on how to earn extra without taking on a 2nd job, managing money at 21 isn't easy i was useless

RichOneday_2

If you have kept everything on track until now the simple solution would be to ring your bank and ask them to increase your overdraft to £500. If you think it is only going to be a temporary need ask them to increase it to £500 for 3 months, say.

As you say the numbers aren't big and an increase of that order will just be nodded through. I used to do that particular job so I know it will just be a cursory :

The account has been run pretty well, so no problem.

kayleigh_b69

when i go on my internet banking it says i have an overdraft limit of 650 reserved for me but im worried if i increase it i will have less left each month when i get paid. things are looking up a little i have finished payin a big lump of this month so i can close that credit account once the pay clears but this has to be the worst situation i have EVER been in. i have never not had a single bean to spend on myself before this month.

I know realise how much of a fool i have been to open all these accounts thinking yay its ok ill pay it when i get paid but it all catchs up with ya an boy has it caught me up lol

RichOneday_2

To be honest, you really can't be overspending that much with the figures you mention.

Don't aim to do anything drastic. Just try to, say, get your total outgoings to £20 per month less than your income. It might not seem much but at least you'll be going in the right direction and that puts you ahead of 80% of the population!

kayleigh_b69

thanks everyone i know its not a great deal but i think its comin to something when the day after pay day i have a balance of £70 quid an still like 380 worth of direct debits to go out plus other bills .

Im gonna try that SOA thing see if it helps me any i just need to cut up my credit card really i think an get rid of my overdraft i think

kayleigh_b69

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 1018
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1018

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 150
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 15
TV Licence.............................. 0
Satellite/Cable TV...................... 65
Internet Services....................... 10
Groceries etc. ......................... 50
Clothing................................ 30
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 62
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 30
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 20
Presents (birthday, christmas etc)...... 15
Haircuts................................ 30
Entertainment........................... 20
Holiday................................. 200
Emergency fund.......................... 0
Total monthly expenses.................. 697

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
catalogue......................454.......154.......29.9
store card.....................150.......15........34.9
comet..........................500.......38.65.....29.9
Total unsecured debts..........1104......207.65....-

Monthly Budget Summary
Total monthly income.................... 1,018
Expenses (including secured debts)....... 697
Available for debt repayments........... 321
Monthly UNsecured debt repayments....... 207.65
Surplus(deficit if negative)............ 113.35

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total Secured debt...................... -0
Total Unsecured debt.................... -1,104
Net Assets.............................. -1,104

Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

======== Enter any other useful information below ========

e.g. the number of adults & children in the household, the number

of cars included in the SOA or anything else that may be useful.

kayleigh_b69

i find this quite mad as i dont have a penny left lol

amyandjon

kayleigh_b69 wrote: »

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 1018
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1018

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 150
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 15
TV Licence.............................. 0
Satellite/Cable TV...................... 65 get rid or reduce
Internet Services....................... 10 can u get it free
Groceries etc. ......................... 50
Clothing................................ 30 dont buy clothes for a while
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 62
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 30
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 20
Presents (birthday, christmas etc)...... 15
Haircuts................................ 30 grow ur hair for a few months
Entertainment........................... 20
Holiday................................. 200
Emergency fund.......................... 0
Total monthly expenses.................. 697

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
catalogue......................454.......154.......29.9
store card.....................150.......15........34.9
comet..........................500.......38.65.....29.9
Total unsecured debts..........1104......207.65....-

Monthly Budget Summary
Total monthly income.................... 1,018
Expenses (including secured debts)....... 697
Available for debt repayments........... 321
Monthly UNsecured debt repayments....... 207.65
Surplus(deficit if negative)............ 113.35

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total Secured debt...................... -0
Total Unsecured debt.................... -1,104
Net Assets.............................. -1,104


hope that is of some help cut back and a few months u will be back in credit :P xx

kayleigh_b69

thanks for your advice i could prob reduce the sky as i dont watch all channels an my tv has freeview built in lol

kayleigh_b69

does anybody know where the save £10 a day thread is???