Gulp - Have taken the plunge!

purpleems

Hi All

I've been lurking for ages but have finally built up the confidence to start my first post on here.

A bit of background

I'm Em, I'm 26 and married to an ex-splurger-come-money spending expert! It's caused us a few problems in the time we've been together but I'm proud to say that he is finally getting rid of the debt he acquired at Uni :j
I've been quite good with money up til now but have to admit that the OH's slight rubbishness with money has rubbed off on me (racked up a bit on credit cards...oops)....and I'm determined to get both of us on track to a debt free life....hurrah!

So that's me - I hope you don't mind me crashing the board but you all seem so supportive that I really wanted to join the fun!

So, first of all, what do you need to know? (I'm in process of doing a SOA for you guys to pick at but if there's anything else in the meantime let me know!)

Cheers everyone! :beer:

Em x

P.S and how do I add my bits in the signature?!

gettingbetter

:T
just wanted to say hello

Robbda

hey hey! Welcome!

I'm new too been here a month and its fab! i started this thread today http://forums.moneysavingexpert.com/showthread.html?t=1120381 which is everyones top tip to save or debt bust so check it out.

There are some real pro's on here - get all your outgoing and income posted on here on a SOA and see what they say!

with the signature go to the top of the forum and click on user CP

RichOneday_2

I love the phrase :

Slight Rubbishness

Perfect for the purpose intended. :beer:

purpleems

Monthly Income Details
Monthly income after tax................ 1167
Partners monthly income after tax....... 1700
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2867

Monthly Expense Details
Mortgage................................ 790
Secured loan repayments................. 0
Council tax............................. 130
Electricity............................. 50
Gas..................................... 50
Water rates............................. 35
Telephone (land line)................... 20
Mobile phone............................ 10
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 20
Groceries etc. ......................... 200
Clothing................................ 10
Petrol/diesel........................... 50
Road tax................................ 3
Car Insurance........................... 36
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 40

Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 20
Buildings & Contents insurance..................... 25

Life assurance ......................... 60

Entertainment........................... 24
Holiday................................. 0
Emergency fund.......................... 100
Total monthly expenses.................. 1725


Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 130000...(790)......6.33
Total secured debts........... 130000....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
My credit card.................2000......100.......27
OH credit card.................800.......100.......18
Loan...........................5000......194.......5.9
Total unsecured debts..........7800......394.......-

Monthly Budget Summary
Total monthly income.................... 2,867
Expenses (including secured debts)....... 1,625
Available for debt repayments........... 1,242
Monthly UNsecured debt repayments....... 394
Surplus(deficit if negative)............ 848


Errr - this doesn't seem right - I'll check our direct debits and see what else the money is going on cos we def don't have that surplus!

Edit - we also pay £100 pm in pet costs (i.e food and a walker on the 2 days a week I'm at work for longer that 4 hours)

Think the rest must be being frittered away somewhere?


.

RichOneday_2

Spending Diary time I feel to find that elusive £800!

On your figures theres certainly no fundamental problem, just a need to know where all the money going. Write down every penny you spend for a month and some amazing information will unfold. Having said that you will spend less simply because you're writing it down.

PS Are you sure you haven't got 2 husbands and forgotten about one?

purpleems

Goodness no....one's enough!:D

Have bought pocket notepad and am armed and ready! Wish me luck!

RichOneday_2

Good luck!!! It's very revealing....

pixiechick99

Good luck! I find coming on here (I have my own diary) and rambling a bit, recording what I spend is really helpful - I love to be able to say I've not spent anything! I've been using the boards for about 3 months now and it's the biggest inspiration. I don't like spending money now unless I have to and I'm finally (at the age of 36!) getting finances organises and know what's going in and out!

Keep on this board - it's addictive:beer:

purpleems

Thanks Millyscarlett - I'm glad I found it cos it's so easy to push finances to the back of your mind and think "I'll deal with that later!". I'm pleased to be facing the music and hopefully getting us on the right track.

HAving said that I've gone through the SOA and the budget planner and found that I've missed a few things off (D'oh) which might explain why the SOA is showing that we have more money than we do....well at least a bit mroe anyway!

purpleems

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 1167
Partners monthly income after tax....... 1700
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2867

Monthly Expense Details
Mortgage................................ 790
Secured loan repayments................. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 130
Electricity............................. 50
Gas..................................... 50
Oil..................................... 0
Water rates............................. 35
Telephone (land line)................... 20
Mobile phone............................ 20
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 20
Groceries etc. ......................... 210
Clothing................................ 10
Petrol/diesel........................... 50
Road tax................................ 3
Car Insurance........................... 36
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 42
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 20
Buildings insurance..................... 26
Contents insurance...................... 0
Life assurance ......................... 66
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 24
Holiday................................. 0
Emergency fund.......................... 200
OH Phd fees............................. 150
Pet food & costs(walker)................ 100
GAP Insurnace for car................... 18.99
Level Term (for 10k loan)............... 7
Bank account fee........................ 8
Total monthly expenses.................. 2137.99

Assets
Cash.................................... 0
House value (Gross)..................... 155000
Shares and bonds........................ 0
Car(s).................................. 6000
Other assets............................ 0
Total Assets............................ 161000

Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 130000...(790)......6.33
Total secured debts........... 130000....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
My credit card.................2074......100.......27
OH credit card.................800.......100.......18
£10k loan (for OH).............4708.98...194.......5.9
Total unsecured debts..........7582.98...394.......-

Monthly Budget Summary
Total monthly income.................... 2,867
Expenses (including secured debts)....... 2,137.99
Available for debt repayments........... 729.01
Monthly UNsecured debt repayments....... 394
Surplus(deficit if negative)............ 335.01

Personal Balance Sheet Summary
Total assets (things you own)........... 161,000
Total Secured debt...................... -130,000
Total Unsecured debt.................... -7,582.98
Net Assets.............................. 23,417.02

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