New start ... with a little help.

ward_emmajane

Hi,

Ok, well i've been dipping in and out of this site for ages and i've been 'trying' to sort myself out for even longer. it just seems that every time I get somewhere I do something stupid, or careless and mess it up and end up back at square one. Well i'm fed up of constantly being in debt, constantly having no money and only having myself to blame so I am really going to do it this time if it kills me.

Having read other people's post I guess the first thing is my SOA ...

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 1250
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1250

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 487.5
Management charge (leasehold property).. 0
Council tax............................. 65
Electricity............................. 30
Gas..................................... 30
Oil..................................... 0
Water rates............................. 30
Telephone (land line)................... 0
Mobile phone............................ 20
TV Licence.............................. 11
Satellite/Cable TV...................... 0
Internet Services....................... 10
Groceries etc. ......................... 50
Clothing................................ 20
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 50
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 15
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 5
Entertainment........................... 50
Holiday................................. 5
Emergency fund.......................... 10
Total monthly expenses.................. 898.5

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
Barclaycard....................550.......25........15
Egg............................2150......45........19
Vanquis........................300.......15........39.9
Loans from friends.............5000......100.......0
CCJ............................2150......150.......0
Barclays.......................3150......0.........17.9
Total unsecured debts..........13300.....335.......-

Monthly Budget Summary
Total monthly income.................... 1,250
Expenses (including secured debts)....... 898.5
Available for debt repayments........... 351.5
Monthly UNsecured debt repayments....... 335
Surplus(deficit if negative)............ 16.5

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total Secured debt...................... -0
Total Unsecured debt.................... -13,300
Net Assets.............................. -13,300

Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.
Having read other people's posts i've been kind of humbled because as desperate as I feel sometimes i'm lucky that I don't have children to support and that nothing is secured on a house etc as i'm only renting.It just feels like there is no way out of this, i pay something off and then an unexpected billa rrives and screws it all up again.I was also stupid enough to take out a couple of payday loans (evil people!) and now I have them also calling about an outstanding balance of around £800 in total.Any help and advice to help someone who has been very stupid in the past and now really wants to make it right would be greatly appreciated.

SazM030306

Well done on taking the first step. It looks like you're doing well all your outgoings look quite reasonable to me, the other option is to up your income. Either a second job or try online surveys/mystery shopping etc.
Looks like the Vanquis loan need paying off fast! 39.9%!!
Good luck
Saz x

Waspeze

Just a thought but have you tried snowballing?

http://www.whatsthecost.com/snowball.aspx

laura2481

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 1250
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1250

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 487.5
Management charge (leasehold property).. 0
Council tax............................. 65
Electricity............................. 30
Gas..................................... 30
Oil..................................... 0
Water rates............................. 30
Telephone (land line)................... 0
Mobile phone............................ 20
TV Licence.............................. 11
Satellite/Cable TV...................... 0
Internet Services....................... 10
Groceries etc. ......................... 50
Clothing................................ 20
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 50
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 15
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 5
Entertainment........................... 50
Holiday................................. 5
Emergency fund.......................... 10
Total monthly expenses.................. 898.5 everything here seems quite sensible

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
Barclaycard....................550.......25....... .15
Egg............................2150......45....... .19
Vanquis........................300.......15....... .39.9
Loans from friends.............5000......100.......0
CCJ............................2150......150...... .0
Barclays.......................3150......0........ .17.9
Total unsecured debts..........13300.....335.......-
I would consider balance transferring some from Vanquis card to egg or Barclaycard if unable to get any new cards with lower rate. Then over pay on that to get rid of it ASAP. Then overpay Egg card to get rid off that. Ensure you never miss another payment and in 6 months try for a 0% card

Monthly Budget Summary
Total monthly income.................... 1,250
Expenses (including secured debts)....... 898.5
Available for debt repayments........... 351.5
Monthly UNsecured debt repayments....... 335
Surplus(deficit if negative)............ 16.5

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total Secured debt...................... -0
Total Unsecured debt.................... -13,300
Net Assets.............................. -13,300

Just a few suggestions in red. Good luck.

ward_emmajane

I would if I could but unfortunately all of those cards are at their limit :-(