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money problems
timbo86
Posts: 161 Forumite
Hi guys need some advice and help basically i have £700 left this month and i have £900 outgoing i can't get a loan as my credit rating is worse than appaling, alot of my debts end next summer 2 loans and a car hp so i will be fine come then but i don't know what to do other halfs grandad just died so i don't want to add to the problems further by telling her just yet. Im already cutting down to a bare minimum and spending £10 a week on food for the 2 of us, im really down and depressed we never go anywhere and life just doesn't seem to have a point........
Save £1000 in 100 days 20th july - 22 oct - so far 25.00
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Comments
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Hi Timbo. I'm not as good at giving out advice as others are on this thread but I just wanted to let you know that someone out there hears you! You're just having a down moment, which we all have - but you're doing so well on your debt-free road. You are just months away from clearing your debt which is fantastic and so much better than most. I'm sure some people on this thread would kill to be where you are now! It's great that you don't want to burden your partner but you do sound like you need her support right now.
It may be hard for her to hear but she might be more upset that you didn't turn to her when you needed her most.
As for your outgoing/income problem, why don't you make a list of what's coming out and what's coming in this month. Just writing it down here will help and there will be some kind of an answer I'm sure!
anyway, best of luck, don't work yourself into a downward spiral, you've made a positive step by coming on here and you will get through this month.
BM0 -
Hi Timbo
If it is a one off that you can't make payments then you may be able to negotiate with you creditors if you usually meet payments, if not you might want to get in touch with one of these debt advice charities:
http://www.moneysavingexpert.com/loans/debt-help-plan#help
They will be able to talk you through the options that are available to you and may also be able to help you by taking on some of the negotiations etc with/for you
Oh and the list of income and expenditure that BM was talking about, there is something called a statement of affairs calculator on this website: www.makesenseofcards.com
If you complete it you can also post it here for advice or failing that it will be useful for when you speak to the debt help charity.
All the best£34,547 (Dec 07); Current debt: £zilch (Debt free December 2010)
Sealed Pot #389 (2010=£133)0 -
[tt]
Statement of Affairs and Personal Balance Sheet
Monthly Income Details
Monthly income after tax................ 1082
Partners monthly income after tax....... 819
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1901
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 258
Rent.................................... 475
Management charge (leasehold property).. 0
Council tax............................. 113
Electricity............................. 18
Gas..................................... 18
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 65
TV Licence.............................. 12
Satellite/Cable TV...................... 43
Internet Services....................... 12.99
Groceries etc. ......................... 80
Clothing................................ 0
Petrol/diesel........................... 130
Road tax................................ 0
Car Insurance........................... 75
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 12
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1311.99
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 6000
Other assets............................ 0
Total Assets............................ 6000
Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........0
Secured Debt.................. 0........(258)......0
Total secured debts........... 0.........-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
3 credit cards.................5600......160.......0
car loan.......................1850......150.......0
partners car loan..............2000......175.......0
Total unsecured debts..........9450......485.......-
Monthly Budget Summary
Total monthly income.................... 1,901
Expenses (including secured debts)....... 1,311.99
Available for debt repayments........... 589.01
Monthly UNsecured debt repayments....... 485
Surplus(deficit if negative)............ 104.01
Personal Balance Sheet Summary
Total assets (things you own)........... 6,000
Total Secured debt...................... -0
Total Unsecured debt.................... -9,450
Net Assets.............................. -3,450
Created using the SOA calculator at https://www.makesenseofcards.com. [/tt]
======== 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.Save £1000 in 100 days 20th july - 22 oct - so far 25.000 -
The thing is currently i have £700 and have £900 outgoing for the rest of the month and i will be over my overdraft which will incur further charges and get me even further behind....Save £1000 in 100 days 20th july - 22 oct - so far 25.000
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[tt]
Statement of Affairs and Personal Balance Sheet
Monthly Income Details
Monthly income after tax................ 1082
Partners monthly income after tax....... 819
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1901
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 258
Rent.................................... 475
Management charge (leasehold property).. 0
Council tax............................. 113 can this be spread over 12 months if not already
Electricity............................. 18
Gas..................................... 18
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 65 this seems very very high - what type of deal is it?
TV Licence.............................. 12
Satellite/Cable TV...................... 43
Internet Services....................... 12.99
Can you get a package to include your internet access with the satellite?
Groceries etc. ......................... 80
Clothing................................ 0
Petrol/diesel........................... 130
Road tax................................ 0 ?? should there be something here
Car Insurance........................... 75 seems high - have you shopped around or is it for 2 cars (£900 per year)
Car maintenance (including MOT)......... 0 ?? should there be something here
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 12
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1311.99
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 6000
Other assets............................ 0
Total Assets............................ 6000
Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........0
Secured Debt.................. 0........(258)......0
Total secured debts........... 0.........-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
3 credit cards.................5600......160.......0
car loan.......................1850......150.......0
partners car loan..............2000......175.......0
Total unsecured debts..........9450......485.......-
Monthly Budget Summary
Total monthly income.................... 1,901
Expenses (including secured debts)....... 1,311.99
Available for debt repayments........... 589.01
Monthly UNsecured debt repayments....... 485
Surplus(deficit if negative)............ 104.01
Personal Balance Sheet Summary
Total assets (things you own)........... 6,000
Total Secured debt...................... -0
Total Unsecured debt.................... -9,450
Net Assets.............................. -3,450
Created using the SOA calculator at www.makesenseofcards.com. [/tt]
======== 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.
Hi, just a few comments. I know they might not help immediately but going forward it will free up more of your cash
SOA = Statement of Affairs (to find a SOA Calculator, google 'make sense of cards' & click on calculators tab > Statement of Affairs)0 -
Hi, just a few comments. I know they might not help immediately but going forward it will free up more of your cash
Originally Posted by timbo86
[tt]
Statement of Affairs and Personal Balance Sheet
Monthly Income Details
Monthly income after tax................ 1082
Partners monthly income after tax....... 819
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1901
Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 258
Rent.................................... 475
Management charge (leasehold property).. 0
Council tax............................. 113 can this be spread over 12 months if not already this is already split over 12 months
Electricity............................. 18
Gas..................................... 18
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 65 this seems very very high - what type of deal is it? this is for 2 mobiles
TV Licence.............................. 12
Satellite/Cable TV...................... 43
Internet Services....................... 12.99
Can you get a package to include your internet access with the satellite? can't get the package in my area as they don't have access apparently
Groceries etc. ......................... 80
Clothing................................ 0
Petrol/diesel........................... 130
Road tax................................ 0 ?? should there be something here
Car Insurance........................... 75 seems high - have you shopped around or is it for 2 cars (£900 per year) this is for 2 cars
Car maintenance (including MOT)......... 0 ?? should there be something here
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 12
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1311.99
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 6000
Other assets............................ 0
Total Assets............................ 6000
Secured Debts
Description....................Debt......Monthly.. .APR
Mortgage...................... 0........(0)........0
Secured Debt.................. 0........(258)......0
Total secured debts........... 0.........-.........-
Unsecured Debts
Description....................Debt......Monthly.. .APR
3 credit cards.................5600......160.......0
car loan.......................1850......150.......0
partners car loan..............2000......175.......0
Total unsecured debts..........9450......485.......-
Monthly Budget Summary
Total monthly income.................... 1,901
Expenses (including secured debts)....... 1,311.99
Available for debt repayments........... 589.01
Monthly UNsecured debt repayments....... 485
Surplus(deficit if negative)............ 104.01
Personal Balance Sheet Summary
Total assets (things you own)........... 6,000
Total Secured debt...................... -0
Total Unsecured debt.................... -9,450
Net Assets.............................. -3,450
Created using the SOA calculator at www.makesenseofcards.com. [/tt]
======== 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.
Hi, just a few comments. I know they might not help immediately but going forward it will free up more of your cashSave £1000 in 100 days 20th july - 22 oct - so far 25.000 -
Well done for posting your SOA. All those funny "
" things are because you used the wrong Format button. You need to choose the Format for MSE button (not the Format for Make Sense) next time. No need to re-post. Just letting you know for next time.
Cheers
ClarimanAuthor of the first Stoozing FAQ on the Internet and Creator of the SOA & Snowball calculators at Lemonfool.co.uk0 -
what are the bills that make up the £900 that are going out of your account this month that you only have £700 for? can you list those and we can see if we can shuffle things around a bitAug GC £63.23/£200, Total Savings £00
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can you switch to PAYG mobiles and only use them in an emergency?
Can you get a second job - part time bar job or something in the evenings?
If you keep your head above water like you say you will be free and clear next year - thats not far off.
As for being £200 short this month can you ask a family member for a short loan and then really do everything to get a second source of income.0 -
Dump the satellite TV - it's a luxury, not a necessity at times like this.
Talk to your creditors and tell them that you're flat broke and can't make the full amount this month but are willing to pay a little less. Hopefully, they'll appreciate your honesty and be prepared to accept a little less for a few months.I let my mind wander and it never came back!0
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