loopymadlovers diary for a debt free life

loopymadlover

After years of denial i have had my lbm in the last few months, unfortunately my wages only just cover my outgoings, at least this means i can make all the minimum monthly payments. My budget is very tight with no margin for error and an unexpected problem goes on to my credit card luckily they don't happen all that often.

Today is the first day of the rest of my life im am actively going to be listing items on ebay and amazon to make the extra cash to pay the debts back i have just under 15k spread well over numerous creditors

Everything i have on credit is at the lowest possible rate i can get im concentrating on the highest interest rate card i have right now its £1250 but interest need to be added for this month

This year will be another bleak christmas but im hoping for cheques from my family as i dont need anything else right now.

So here goes i will update this diary regularly and love reading the forum for ideas and tips !!:j

doodledo_2

Good luck with your new diary, I find it so helpful to have somewhere to vent.

Good luck with selling and I hope you raise lots of lovely pennies you can throw at your debts.

Have you posted your SOA on here already? If not it may be worth a go as even if someone only shaves a few quid off your outgoings it all helps.

MrsPitcher2b

Hi Loopymadlover

Welcome and good luck I am quite new too so cant offer too much advice, although i would post up an SOA (Statement of Affairs) because its amazing what things people on here can help you cut back!!

http://www.britishinvasion.co.uk/soa/soaedit.php
That link should take you to it if you wanted to give it a try?

loopymadlover

thanks for the replies will put on SOA on wednesday as i have a day off work its pretty tight tho i have recently had to shave my food budget down to £100 a month for 2 adults as my oh is now working a shortened week 32 hours over 5 days instead of 40.

Done nothing today but am going to have a mad tidying/listing day on wednesday and most of thursday well i say nothing haven't got anything listed but did 10 items monday checked all my bank accounts and am trying to work out my min payments for next month so i no how much extra i can pay on my lloyds card this week
,

Got an interview on thursday at 1330 much better paid but will have to get another scooter as its a fair few miles from home and the bus service here is pants, also my man can use it when im not thus saving him a few quid each week on fuel so much to think of.

ive got to find around £1000 to sort out getting back on the road gonna be difficult to say the least but it will all be worth it in the end hopefully.

if i get this job i will be working longer hours 12 hour days so i will be able to work more and should have my rota weeks in advance so at last i will be able to get a second job as atm im get my rota on friday for the following monday its beyond a joke also they have put me on lates for the last 3 weeks !!!!!!! i spoke to my manager as she has put me on 2 earlies next week to keep me quiet they must think im stupid cant cope working in elderly care anymore i should get 40 mins break everyday but im lucky to get 15 mins the company are just so bad its shocking !!! love all the clients but my current job is affecting my mental health and physical well being as well as not seeing my man this week we get 2 evenings together as im working till 10 every other night !!

Sorry to complain its just so frustrating and not the way i would manage my staff team if i was in charge.

So roll on wednesday to get listing and thursday for my interview im hoping to hear on friday so i can go in with my letter of resignation hope to get some time with the other half at christnmas the last few years have been rubbish but thats another story

Had the snowball calculator going for a couple on months and it thinks i will be debt free by august 2011 but if i earn more this will be sooner i'll make sure of it lets just hope i can do it !:eek:

loopymadlover

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 900
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 900

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 200
Management charge (leasehold property).. 0
Council tax............................. 96
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 20
Telephone (land line)................... 0
Mobile phone............................ 20
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 100
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.................. 436

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
lloyds c./card.................1250......40........24.9
halifax loan...................5058......297.6.....7
barclays overdraft.............900.......10........17.9
boyfriend......................570.......0.........0
sister.........................1000......0.........0
paypal credit card.............2400......60........16.9
egg............................1775......45........16.9
barclay card...................655.......14........16.9
sky card.......................903.......23........16.9
Total unsecured debts..........14511.....489.6.....-

Monthly Budget Summary
Total monthly income.................... 900
Expenses (including secured debts)....... 436
Available for debt repayments........... 464
Monthly UNsecured debt repayments....... 489.6
Surplus(deficit if negative)............ -25.6

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total Secured debt...................... -0
Total Unsecured debt.................... -14,511
Net Assets.............................. -14,511

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

My sorry soa my partner and i live in the house with 2 big dogs
i dont pay rent but the money is to cover the bills i have reduced my food budget recently as i've said. My man pays for the dog food and the huge mortgage we have which will be up for renewal next october fingers crossed we get another fixed rate deal.

I havent paid my sister a penny yet or my man as i just dont have the funds im hoping to pay my sister back when my loan finishes which is may 2010 feels like a long way away right now.

My wages vary atm as overtime is not always available all the household bills are at the cheapest i can get them i keep checking moneysupermarket regularly, im finally going to sell the contents of my wardrobe and all the things that i dont use around the house.

I do smoke and know that i should give up for my health and financial well being just cant face it to i spend £10 a week but i dont drink or have to pay for any travel expense so i feel justified at the moment im going to give up at the beginning of next year.

My man is fully aware of my debts and cant afford to help me right now but a bit of good news well sort of is that his company are making another 2 ppl redundant no him and going to put his hours back up to 40 again so we will be back to normal again feel sorry for the poor guy who will be made redundant but got to look after no1 right now

if there is anything that i can shave down just a bit will be greatly appeciated for your comments ta

hypno06

I don't think there is a great deal to shave off that SOA.

My suggestion would be to head over to the "make £10 a day challenge" and use some of the ideas there to up your income a bit - it is amazing how much extra you can make with just a bit of extra effort. If you could bring in an additional £300 to bung at your debts by making £10 ish a day, you would be able to get rid of some of these smaller debts quite quickly which would start the snowball effect nicely, and would give you a motivational boost too!

I have added you in the "pay £20000 by Xmas" challenge, which will hopefully give you some motivation too!

loopymadlover

just applied for a halifax credit card that was advertised on ipoint filled in all the details thinking i should try anyway

good news folks ive been approved and filled out the balance transfer already so wont be paying any interest on any of my cards now !!! hahaha take that banks !!!!!!!!!!!

:T:T:T:T:T:T:T:T:T
:j:j:j:j:j:j:j
:beer::beer::beer::beer::beer::beer:

loopymadlover

thanks hypno

loopymadlover

i been quiet for the last week and done very little im off today and will be listing after me fella has rung on his dinner break !

ive got another job and will be starting in mid jan i'll be able to work more hours and earn much more so my debts will be getting smaller every month. I'm waiting for my new halifax credit card and will be transfering the balance of my last interest credit card as soon as it arrives.

My fella is looking at his own buisness as a lock smith the outlay is quite high for training £20k but the potential earnings are fantastic and he will be much happier working for himself rather than the company he works for now !!

I'm so looking forward to all the challenges that 2009 is going to bring and the potential i have for paying my debts back by christamas 2009 we are both going to give up smoking in the new year and i cant wait !

will update more this evening with my achievements for the day as well as listing ive got the kitchen and living room to clean and tidy !