Not sure what to do.

ZLS1984

I seem to have more money going out than I have coming in. All I can see is debts and I can not see a way out of it.

My debts are not huge well one is but they do not start taking that back until I am in work.

The other debt people are asking huge amount and do not seem to listen to reason.

I am worried over this and not sure what to do next.

moneysavingmaia

Hi There,

I am a bit of a newbie myself so am not sure how much help i could be but usually the first thing to do is post your SoA and someone (probably more knowledgeable than me!) will be along and help you out with ways you may be able to get down your outgoings, you will get lots of help here

Maia xx

10past6

Hi ZLS :hello:

Welcome to the forum, first thing to do click here and post your SOA (Statement of Affairs) lets see if we can your your outgoings.

Mrs_Sparkle

Welcome! As Maia said, please post your SOA and we'll have a look at it for you. I'm sure we'll be able to give you some suggestions for making changes. You're in the right place- there are lots of knowledgable people here.

hypno06

Hi and welcome

The link for the SOA is here

http://www.makesenseofcards.com/soacalc.html

fill this in as best you can, and post it into this thread - then people will be able to look and see where they can suggest you cut back without too much pain.

Also, find your way around these boards, there are loads of ideas for making extra money, and cutting back your expenses - some might not fit with your way of doing things, but others will, and you can soon see a difference in making ends meet.

Just by doing these few things, you are starting to take control of your debts, rather than allowing your debts to control you, and that is a very powerful thing.

good luck!

whitewing

Hi ZLS,

There's nothing like a late Sunday evening to prompt that gnawing, niggling, worrisome feeling. You'll get help here, so do work on that SOA

ZLS1984

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 0
Benefits................................ 480
Other income............................ 0
Total monthly income.................... 480

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 80
Gas..................................... 60
Oil..................................... 0
Water rates............................. 24
Telephone (land line)................... 30
Mobile phone............................ 0
TV Licence.............................. 40
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 120
Clothing................................ 0
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
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...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 354

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...APR
Student Grant .................150.......10........0
British Gas ...................480.......10........0
southern electric..............250.......8.........0
Total unsecured debts..........880.......28........-

Monthly Budget Summary
Total monthly income.................... 480
Expenses (including secured debts)....... 354
Available for debt repayments........... 126
Monthly UNsecured debt repayments....... 28
Surplus(deficit if negative)............ 98

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total Secured debt...................... -0
Total Unsecured debt.................... -880
Net Assets.............................. -880

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

======== 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.

10past6

Your debts are on your utility services, are you on a token meter?

hypno06

You are showing a surplus on paper, but I suspect that is not the reality.

I would suggest starting a spending diary tomorrow and writing down absolutely everything you spend any money on - even just a few pence. It will soon show you where the money is really going - and once you know that, you can start to reduce your expenditure.

if you prefer an online version - go to www.spendingdiary.com

ZLS1984

I am now as the amount they wanted to take from my bank account was scary so thought I would be able to manage better on token meter.

I do have a 7 grand student finance debt but they only take that when I get a job. I also have a 150 pound grant over payment to pay back. I just could not remember them all off the top of my head.

I switched from british gas to southern electric bad move as my bill with southern electric has shot up and they are taking it from the meter, I have to show them proof of benefits.

Also British gas are now chasing me with really high bills and are rude and unhelpfull.

ZLS1984

hypno06 wrote: »

You are showing a surplus on paper, but I suspect that is not the reality.

I would suggest starting a spending diary tomorrow and writing down absolutely everything you spend any money on - even just a few pence. It will soon show you where the money is really going - and once you know that, you can start to reduce your expenditure.

if you prefer an online version - go to www.spendingdiary.com

I dnt spend my money on much as I tend not to have any left after paying people. There are people waiting for and I can not give it to them.

I did try debt counsellers but found that I was worse off with Christians against poverty and then sure start sent a lady to me but she wanted me to shut dwn my bank account