And another DFW Diary

craggy121

Hi All,

I've been a lurker for ages now and really admire how all of you are reducing your debt.

I've done the snowball thingy and my dfd is Dec2011 which I def wanna get down! My SOA [as you'll see] has capacity for me to pay more off my debts but I don't have this money left every month - God knows where it all goes. I've started a spending diary to see if I can see what happens to it all!

I'm proper embarrassed over how my debt is spread and the number of cards I have. I know my debt isn't as big as some peoples, but it just feels massive to me and I want rid of it as soon as poss.

I also want to be part o the lose weight bit but don't know how to join that or if I just put it in my sig? any pointers would be great.

Well anyway, enough waffle, here goes with my SOA:

Monthly Budget SummaryAmount(£)
Total monthly income1,746
Monthly expenses (incl. secured loans)1,111.07
Available for debt repayments634.93
UNsecured debt repayments394Surplus240.93

Personal Balance Sheet SummaryAmount(£)
Total Assets (things you own)94,000
Total Secured Debt-74,000
Total Unsecured Debt-9,311
Net Assets10,689

Income, Expense, Debt & Asset Details

IncomeAmount(£)Monthly income after tax1350
Partners monthly income0
Benefits235Other income161
Total monthly income1746

ExpensesAmount(£)
Mortgage470
Secured loan payments0
Rent0
Management charge (leasehold property)0
Council tax75
Electricity31
Gas37
Oil0
Water Rates25
Telephone (land line)5
Mobile phone10
TV Licence11
Satellite/Cable TV21
Internet services12
Groceries etc.140
Clothing5
Petrol/diesel30
Road tax7
Car Insurance18
Car maintenenance (including MOT)5
Car Parking0
Other travel0
Childcare/nursery60
Other child related expenses50
Medical (prescriptions, dentists, opticians etc.)0
Pet Insurance/Vet bills0
Buildings Insurance13
Contents Insurance12.5
Life Assurance13.57
Other Insurance0
Presents (birthday, christmas etc.)50
Haircuts0
Entertainment10
Holiday0
Emergency Fund0
Total monthly expenses1111.07

Secured Debt DescriptionDebt(£)Monthly(£)APR(%)
Mortgage74000(470) 0Secured Debt totals74000- -

Unsecured Debt DescriptionDebt(£)Monthly(£)APR(%)
Additions Direct 121 7 39.9
Abbey CC 400 20 34.9
Debenhams Store Card 243 5 29.9
Car Loan (4500) 1548 172 0
Next 65 10 0
Tesco CC 2265 67 5.9
Egg CC 2540 50 0
HSBC CC 289 8 17.9
Lloyds TSB CC 915 25 19.9
Yorkshire CC 845 25 24.9
Topshop Store Card 80 5 29.9
Unsecured Debt totals 9311 394-

Asset DescriptionValue (£)
Cash 0
House Value (Gross)90000
Shares and bonds0Car(s)4000
Other assets (e.g. endowments, jewellery etc) 0
Total Assets 94000

One thing I should say is for some reason[!] my mortgage was paid late this month [November] so I have had to pay 323 which is in addition to the £470 that will come out on 1st December - it's gonna cripple me, espec with Xmas coming up.

Hoping that by keeping a diary, it'll keep me on track.

Sorry for such a long post!

hypno06

If you find your diary half as useful to you as I find mine is to me, you will soon be feeling far more in control and will soon have that DFD brought forward.

The snowball calculator is a fab way of recording things etc, and I find it a great motivator!

Good luck on your debt free journey - there is loads of support on these boards so keep on posting and benefit from some of it!