Big step made.

twirlypinky

I posted my SoA on here a few months ago worried about my situation, because I wasn't really getting anywhere.

I've bitten the bullet and moved out of my flat, I'm now living in shared rental accommodation for loads less a month. My SoA now looks like this:
Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 1542.98
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1542.98

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 479.29
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.............................. 11.29
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 200
Clothing................................ 30
Petrol/diesel........................... 50
Road tax................................ 0
Car Insurance........................... 46.88
Car maintenance (including MOT)......... 10
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 15
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 15
Haircuts................................ 5
Entertainment........................... 25
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 902.46

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 2500
Other assets............................ 0
Total Assets............................ 2500

No Secured Debt

Unsecured Debts
Description....................Debt......Monthly.. .APR
Family.........................5676.25...100...... .0
Abbey OD.......................564.1.....100.......16
HSBC...........................794.42....50....... .16
Total unsecured debts..........7034.77...250.......-

Monthly Budget Summary
Total monthly income.................... 1,542.98
Expenses (including secured debts)....... 902.46
Available for debt repayments........... 640.52
Monthly UNsecured debt repayments....... 250
Surplus(deficit if negative)............ 390.52

Personal Balance Sheet Summary
Total assets (things you own)........... 2,500
Total Secured debt...................... -0
Total Unsecured debt.................... -7,034.77
Net Assets.............................. -4,534.77


and in theory i could be debt free in 11 months.

All I need to do now is work out if there's a life after divorce and how I want to live it! and reduce my groceries bill. I've also got to learn to live with three total strangers.

Twirly x

phantom9999

Congratulations on making the decision to move to shared accommodation!

Also good luck with paying your debts off and finding life after divorce!

P

poorandindenial

Well done on getting your SOA sorted, it is looking pretty healthy. Have you checked out the old style board for help with getting the groceries bill down.

Good luck for your new life, eleven months will go flying by before you know it.

CarolynH

Looks like you are paying the entire TV licence fee for the house, is the correct? Also £200 for groceries for 1? Try the Old Style board, they can likely help you at least half this

beanielou

You will get rid of your two small debts really quickly & then wll only have one to go!
Go girl go!

rluc

Twirly- hopefully there is life after divorce or we are paying our debts back for no reason!!!:rolleyes:

mum2one

Your doing an absolutely brilliant job with the SOA, 11 months will soon fly past, the TV licence usually goes with the owner of the TV, so guess you wont be able to get out of that if you have one in ur room.
x

urg123

Hi Twirlypinky
Just wanted to pop in and say good luck.

The grocery challenge is the one I struggled with most. Here's a few tips that have helped me on the way:
- aim to take your lunch in on three days a week.
- try to cook two meals in one go - this covers you for two evenings.
- meal planning - this can help you shop to a list.
- make sure you buy a few snacks to have in your drawer at work to stop the trips to the shop.
- what about sharing meals with your new flat mates? If you each cook one night a week for the rest of the flat then you will get to know them well and and hopefully share on some of these costs?
- storecupboard cooking - my cupboards are loaded at the moment so won't have to shop for at least three weeks (I hope)
- start a price book - this really does help you to see what the cost of products are. I had no idea what 2-pint bottles of milk cost until recently (popping in to M&S for milk was what I did when I ran out!!)
- I plan to join the 'no spend days' and the 'grocery challenges' next month - they are good motivators.

Hope these ideas get you started.

By the way - I think the rule is that if you have TV in your room and you live a room with a lock on it you should have a TV licence - I remember this from my student days. Really annoyed me - that's a lot of revenue per University campus! Also not very fair for to students as the annual cost is not fairly distributed across the year so if students only use it for 9 months they won't get the equivalent of three month's refund. Sorry - rant over!

Keep checking this site - it really is a source of inspiration, good ideas and people who care! URG x