Help - Im sick of being skint!!!

Mrs_Ryan

Hey everyone,

I've just decided to do my SOA out of interest - and well, nearly fell off my chair!! I thought I was getting by but I seem to be permanently skint - and well, its no surprise why.... can anyone help me out here??? thanks


font=courier new]Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 770
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 770

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 25
Mobile phone............................ 70
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 17
Groceries etc. ......................... 30
Clothing................................ 20
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 20
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 20
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 202

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...
Citi Mastercard................750.......25........
Evans Storecard................500.......20........
Littlewoods....................525.......68........
Lowell Financial...............517.......50........
MEM ...........................100.......25........
Money Shop.....................250.......50........
Pounds Till Payday.............300.......389.......
Brilliant Gift Shop............125.......10........
Shoe Tailor....................125.......10........
Ambrose Wilson.................125.......10........
Viva La Diva...................200.......15........
Simply Be......................400.......24........
Fashion World..................500.......36........
Total unsecured debts..........4417......732.......-

Monthly Budget Summary
Total monthly income.................... 770
Expenses (including secured debts)....... 202
Available for debt repayments........... 568
Monthly UNsecured debt repayments....... 732
Surplus(deficit if negative)............ -164

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total Secured debt...................... -0
Total Unsecured debt.................... -4,417
Net Assets.............................. -4,417

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

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

I live with my partner, but my debts arent anything to do with him (and neither does he actually know about most of them) so I havent included his income. It's his house, he pays all mortgage/bills/food etc, but I pay for the internet and phone as I am the only one who uses them! He has no debt bar a very small mortgage. Only APR's im certain of are my credit card - 24.9 and my storecard - 29.9 and currently in arrears, however my income fluctuates each month as I get guaranteed unsocial hours enhancements (Im a nurse) but that depends on how many weekends/nights etc I worked. I have just put my basic income down though as something to work with. Be gentle with me please... I know Im in a muddle, just didnt realise how bad!!!

Happytogetdebtfree

font=courier new]Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 770
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 770

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 25 you can get a combine package with sky, tv, phone and bb mines 33 pounds
Mobile phone............................ 70 reduce this why is it so high ?
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 17 do you have sky you can have free broadnad ?
Groceries etc. ......................... 30
Clothing................................ 20 dont buy for a few months
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 20 what is this ?
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 20 what does this include ?
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 202

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...
Citi Mastercard................750.......25........
Evans Storecard................500.......20........
Littlewoods....................525.......68........
Lowell Financial...............517.......50........
MEM ...........................100.......25........
Money Shop.....................250.......50........
Pounds Till Payday.............300.......389.......
Brilliant Gift Shop............125.......10........
Shoe Tailor....................125.......10........
Ambrose Wilson.................125.......10........
Viva La Diva...................200.......15........
Simply Be......................400.......24........
Fashion World..................500.......36........
Total unsecured debts..........4417......732.......-

Monthly Budget Summary
Total monthly income.................... 770
Expenses (including secured debts)....... 202
Available for debt repayments........... 568
Monthly UNsecured debt repayments....... 732
Surplus(deficit if negative)............ -164

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total Secured debt...................... -0
Total Unsecured debt.................... -4,417
Net Assets.............................. -4,417

hope that helps, i am on nights so maybe my brain isnt best with function

Mrs_Ryan

Hi, thanks for replying!

We have the combined Sky package, TV, broadband and phone. However, we live in a rural area where we have very limited options and the only broadband they can offer us is 17 per month. OH pays for the Sky (nearly 50 quid!) he also pays the line rental, I pay for my calls. We arent eligible for the cheap package price because 1) OH refuses to downgrade the Sky TV (fair enough, he pays for it) and 2) because of the broadband.
I will be the first one to admit I spend far too much on my mobile - its not contract, would you believe - but I need to have credit on it at all times (mum and dad both severely disabled, partner also disabled) but I have to admit I need to stop using the credit all the time...
I dont actually spend that much on clothing per month...I tend to buy every few months but Im a big girl so when I do buy it costs me more...
Travel is my bus fare home from work, OH drives me and picks me up usually but if I am on nights or earlies I have to get the bus to/from work (I dont drive) usually about 4 a month but if its any more I have to buy a pass costing 19..
Entertainment is my one night out a month!

bramalfie

Your biggest expenditure is your phone both landline and mobile is coming in at £95 a month, you have to reduce this. You say your OH is paying line rental for the landline so the £25 is just for calls, this is very high, can your phone package be changed give you inclusive calls anytime? £70 on your mobile is really high especially if you are not on a contract, can you change to a contract? This will give you inclusive minutes and text messages and you can probably more than halve your current bill....

Mrs_Ryan

Cant change to a contract :-( my credit is so shot I cant get any more... bit of a pain cos a contract would be much cheaper!

We have free inclusive landline calls.. that 25 quid used to be per quarter so about 7.50 per month, but Im just going what its likely to be this month as I am having absolute nightmares with my bank and am spending long periods of time on the phone to them..

milliemonster

Hi and welcome to the board, one other thing I notied, you said your partner pays for all the bills and groceries, yet you have put down £30 a month for groceries, is this just what you spend on lunches and snacks? if so can you cut this down?

Also, the biggest thing you need to pay off is your pounds till payday loan, if you can get rid of this and be done with it then you're laughing really!, is there any chance you can borrow this off your oh?

duchy

The first thing that jumped out at me was if you have free landline calls then why on earth is the mobile so high ? I think some of it is simply retraining yourself to say "Do I need to make this call from my mobile or will it wait until I get home.....and if it won't will a text do the job instead ? Tell yourself the mobile is only for emergencies -and use the landline for the bank calls !
If groceries does mean lunches then take a packed lunch to work.
For raising money to get rid of the evil payday loan then look to Ebay. Unwanted clothes, CDs, DVDs, books have a declutter and flog the lot-we all have stuff we regard as junk that will sell
Could these ideas work for you ?

JohnD76

Hi,

Are you sure this is right?

Pounds Till Payday.............300.......389.......

If it is you need to pay this off ASAP since this is accounting for 50% of your unsecured payments.

mickeyblue_2

for starters cut up all of your store cards, credit cards etc

Cancel your phone contract, get pay as you go, i have an orange pay as you go and if i top up by £15 a month i get free evening and weekend texts and free calls to orange mobiles after 7pm.

Check that you are only spending £30 on food and £20 on clothes i suspect it is probably more than that.

Sit down with your partner and tell him the truth, tell him you have been stupid and you want to sort it out now. He will probably suspect that you have lots of debts anyway, and will be glad you are being honest.

I should imagine he will offer to help you, but you have to cut back on all your spending.

amylou8

I don't know if it is any help but I have really bad credit (even have a CCJ) and I managed to get a contract with t mobile by calling them directly, I now only spend £30 a month as I get 700 mins and unlimited texts whereas I was probably spending the same as you on PAYG, it might be worth a go?

I know a lot of people with adverse credit tend to get accepted by t mobile as they don't always credit check, they didn't for me anyway!

emmakelly

Hi there,
I was struggling as a self employed mortgage broker and came across an internet marketing company. I was sceptical at first because there are lots of scammers out there, but was drawn to the fact they provided a phone number. After numnerous conversations i joined the company and have never looked back. I am earning good money and work the hours i like. If you have a full time job, that is still ok as you only have to do a few hours a week as long as you have the internet. I have regular training over the phone 2-3 times a week and am never left on my own. Its a great and fun way to earn extra cash without having to leave your home. I am now marketing full time.

Regards

Emma