LP's 2009 masterplan

LilacPixie

well life is not too bad now. OH complained about pi mis-selling and has been offered a full refund. just deciding what to do with it. £1600 so a fair amount. OH wants to replace our shower as it broke in october so we have been having baths since which annoys him because of the time they take. I must admit I do want a new shower. I was thinking possibly a 50/50 split half to 'debt' and half for deemed essentials such as new shower and possibly a meal out for me and OH as we have not been out since August 08.

LilacPixie

bah I have slipped and not updated this sine wednesday. Bank called me to say that they have received my letter about the unauthorised debits and will be investigating.

Nothing else is happening apart from the urge to move is getting stronger and stronger. I know realistically we need to clear unsecured debt and save up alot of money before moving is a possibility but I can't help but want it KWIM. I keep drooling over houses with gardens advertised in the local property paper.

LilacPixie

well good news is 'policy admin serv' have refunded every penny icorrectly debited from my account and added £50 a a goodwill gesture.

Here is my/our most recent SOA. I have put one of our loans under HP because technically it was for a car. The HP figure looks huge but £276 is a true hp that finishes 1st August 2009. Overall we are looking quite healthy. Looking at being debt free early 2010 if you don't include Mortgage.

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 2
Monthly Income Details
Monthly income after tax................ 1406
Partners monthly income after tax....... 1565
Benefits................................ 202
Other income............................ 0
Total monthly income.................... 3173
Monthly Expense Details
Mortgage................................ 405
Secured/HP loan repayments.............. 466
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 107
Electricity............................. 40
Gas..................................... 47
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 40
Mobile phone............................ 60
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 500
Clothing................................ 20
Petrol/diesel........................... 160
Road tax................................ 40
Car Insurance........................... 71
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 10
Pet insurance/vet bills................. 0
Buildings insurance..................... 10
Contents insurance...................... 8
Life assurance ......................... 15
Other insurance......................... 0
Presents (birthday, christmas etc)...... 30
Haircuts................................ 20
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 2081

Assets
Cash.................................... 1600
House value (Gross)..................... 70000
Shares and bonds........................ 500
Car(s).................................. 7000
Other assets............................ 0
Total Assets............................ 79100

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 52700....(405)......6.3
Hire Purchase (HP) debt ...... 7000.....(466)......9.8
Total secured & HP debts...... 59700.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
next...........................1500......150.......26.49
GE loan........................9000......148.......12.74
GE card........................980.......40........0
cap one........................600.......30........0
Total unsecured debts..........12080.....368.......-

Monthly Budget Summary
Total monthly income.................... 3,173
Expenses (including HP & secured debts). 2,081
Available for debt repayments........... 1,092
Monthly UNsecured debt repayments....... 368
Amount left after debt repayments....... 724
Personal Balance Sheet Summary
Total assets (things you own)........... 79,100
Total HP & Secured debt................. -59,700
Total Unsecured debt.................... -12,080
Net Assets.............................. 14,320
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

LilacPixie

creeping ever closer to payday. I have just withdrawn £15 from free scratchies so that can go as an extra payment to something once it arrives. Also due a minimum £70 from quidco in a few days so

I am getting there with baby steps.

Cap one card is 0% until march 2010 with GE until December 09. I think i need to start putting money aside to save for that as they both jump to apr's of 20%+ and I don't know if I will be able to tart to another deal plus the amount is quite small. None of the hp's/loansIcanoverpay without penalty so I am on the hunt for a savings account with the highest apr possible so I can start to save all our surplus funds plus any extra cash I bring in from surveys/scratchies/quidco/MS

LilacPixie

well thats another day at work over with. another few steps closer to payday and being debt free. Nothing interesting in the post today so thats all good.

I am quite :rolleyes: dunno why I think its because I have let things slip for so long that I keep thinking where we could of been if we hadn't wasted a fortune.

LilacPixie

another day and another day with no nasty surprises and nothing in the mail. I am quite happy with that. I have visions that some surprise bill will crawl out of the woodwork just as things are going ok.

afsha

keep up the good work. will be following your progress.

LilacPixie

Thanks Afsha.Its nice to know someone is reading my ramblings. I should actually ask a board guide to shift this to the diarys board.

No nasty surprises today either

I have been proactive.Ihave openeda savings account with my bank and I have set up a lovely standing order to start as on next pay day

LilacPixie

I so need to get to grips with our grocery spends. Ihave a specialised diet and it costs £160 a month minimum. I will need this in the medium term, probably till october ish.the Remainder is for my OH, two kids. This will be cut drastically.

LilacPixie

Right step 1. I am away grocery shopping. I aim to spend as little as possible. Wish me luck.