Am New and A Bit Lost

amyadams99

Hi all - am new. Just decided to list it all an am feeling a bit light headed!!!
Don't think I will EVER be debt free.
boohoo!

border_collie

Hello, I am rubbish at help but I can tell you that somebody wonderful will be along shortly.

Is that 25k earnings for each of you?

It all needs putting on a proper thing but I don't know where it is to link to it.

brainfreeze

Hi

If you can complete a Statement of Affairs and post it on here then the advice will come flooding in.

Here is a link to a really helpful SOA calculator

Well done for taking the first step and posting.

BabySteps

You will be debt free, the experts will get to you soon, don't despair - well done for confronting this situation :-)

mum2one

Youve taken the 1st step, everyone on here is so helpful, as the other poster suggested put an SOA up and we can all go from there. xx

millionaire_in_training

my big advice would be to spend lots of time on here following the hints and tips and you will manage. Need some more info though so advice can be given. Follow the link Brain freeze has given you for SOA and then folks can have a look see.

Jacks_xxx

:wave: Hiya Amy, we've all been there chick. :rolleyes: I remember it well.....

I think it's just one of the stages you have to go through before you can get a proper handle on dealing with it all.

I think feeling crappy is part of what makes you stop letting debt kick your @r$e, and start kick debt's bottom around the place instead!

So really when you think about it - it's fab that you're feeling so pooey cos if you weren't you wouldn't be half as good as you're going to be at sorting all this out.

(Fear and despair are marvellously motivating! )

If you get your SOA done we can see the extent of the problem and we'll all try and help. Most of us are experienced debtors of this parish and in our own trials and tribulations we've learned a thing or two.

Go on hon, be brave! this is step no 2.

Love Jacks xxx

chevalier

well done for posting, keep going
chev

amyadams99

Thanks Guys!

Here Goes!!

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 1500
Partners monthly income after tax....... 1450
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2950

Monthly Expense Details
Mortgage................................ 675
Secured loan repayments................. 320
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 90
Electricity............................. 45
Gas..................................... 45
Oil..................................... 0
Water rates............................. 30
Telephone (land line)................... 65
Mobile phone............................ 80
TV Licence.............................. 13
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 350
Clothing................................ 100
Petrol/diesel........................... 150
Road tax................................ 25
Car Insurance........................... 85
Car maintenance (including MOT)......... 25
Car parking............................. 0
Other travel............................ 20
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 0
Buildings insurance..................... 30
Contents insurance...................... 30
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 40
Haircuts................................ 10
Entertainment........................... 50
Holiday................................. 50
Emergency fund.......................... 30
Total monthly expenses.................. 2378

Assets
Cash.................................... 0
House value (Gross)..................... 115000
Shares and bonds........................ 0
Car(s).................................. 3000
Other assets............................ 0
Total Assets............................ 118000

Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 88000....(675)......6.9
Secured Debt.................. 17500....(320)......6
Total secured debts........... 105500....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Natwest CC.....................300.......6.........0
Cap One CC.....................500.......18........0
Egg CC.........................4000......78........0
Next Catalogue.................150.......15........0
HSBC CC........................300.......10........0
Halifax CC.....................1800......100.......0
Virgin CC......................2000......150.......0
Tesco Loan.....................6000......296.......0
Halifax Loan...................15000.....290.......0
Natwest Loan...................15000.....275.......0
Littlewoods....................675.......0.........100
Total unsecured debts..........45725.....1238......-

Monthly Budget Summary
Total monthly income.................... 2,950
Expenses (including secured debts)....... 2,378
Available for debt repayments........... 572
Monthly UNsecured debt repayments....... 1,238
Surplus(deficit if negative)............ -666

Personal Balance Sheet Summary
Total assets (things you own)........... 118,000
Total Secured debt...................... -105,500
Total Unsecured debt.................... -45,725
Net Assets.............................. -33,225

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

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

We pay to run one car which I need to get to work as public transport is not workable here. Car is part of the natwest loan above. We have no kids or pets and have one holiday a year - usually a cheap last min deal which ends up on a Credit Card (shame). Don't smoke. Drink rarely.

Wol2

Bumpy bump!!

Pheweee Hun..congratulations and well done....that must have been hard...and a bit scarey...

Now according to this, you have £2950 income, £2378 outgoings....leaving £572m approx per month to throw at £1238pm of debt. Hmmmm......

Right...first of all.......DON'T PANIC!!!!!!!

.....the peeps here will now help you to
a) reduce the normal outgoings to less than £2378 and
b) reduce the monthly debt repayments to <£1238pm

Go - DFW peeps....go!


xx

Sharon87

Surplus is -666? The devil!

Congrats for your first steps to managing your debt.

Here's a few suggestions of money saving:

I see you're paying a lot for your landline and mobile. A total of £145/month. I'm sure if you change provider you will be able to get this down. What kind of calls do you usually make? I've got SkyTalk and get free landline calls for up to an hour anytime of the day. but I'm not sure of the cost alone. I'd suggest shopping round for a better deal, one to suit you.

I'd also suggest trying Martin Lewis' downshift challenge to reduce your groceries. Every penny helps! http://www.moneysavingexpert.com/shopping/cheap-supermarket-shopping

Just a few tips that have helped me save money, they're increasing my chances of being debt free.