I fell off the wagon

justruth

I have re-assessed exactly how much I owe, using the real figures rather than estimated settlement figures and using my actual overdraft amounts as they stand rather than the standardised figure I used from the start of the race. I was going to be down to £13,022.84 using the old method but instead I am up to £13,416.56. Still this does mean that I am not lulling myself into any false sense of security, and I am not setting myself up for a fall as I will be more commited to clearing the overdrafts (even if I just have the equivalent in savings as they are at 0%). I am still not including student loan in this as it is clearly going to increase and is my income for the moment.

I also have car insurance to pay but I have 2 weeks wages to come in that will cover that. I do need to repair my car and I have no idea how much that will cost!

All in all it seems that things are all coming out at once again but it's not such a disaster this year as I am way more in control and still £5,000 better off than my LBM, and not having to work as much during term time as I had.

determinedtodothis

Good for you i know its a downer i did the same thing paid the last arrears of my mortgage and then checked my balances with each creditor to find i actually owed more than I thought and it wiped out the mortgage pay off! I think good for you including your overdrafts I know it must be hard, i haven't got one because I can't trust myself i spoke to a friend the other day who admitted hers what £5k!!!! YES £5k!!! :eek:

don't forget to check out the comparisons sites and then go through a cashback site if you can i got mine for about £200 in the end!

Well done for everything you have acheived so far your £5k better off than you were last year (i look at my debt as a minus balance for me!) and you have better quality of life already because you wont have to work as much
:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T

.......still beating you though! (even if it is because car finance can't get their act together!

justruth

Car insurance has to go through a specialist company because of new job, I will be carrying compressed gasses, but it actually worked out cheaper than my renewal quote, and around the same as the best comparison site, and anyone over 25 will be insured to drive my car which is all good.

I do think that it will be slightly easier to get the next £5k down because the interest is lower and I have lower monthly minimums, so in theory I shall be making ever bigger overpayments.

I have booked to see the uni financial adviser in just over a week so it will be interesting to see what she has to say. My flat completes in 2 weeks on Tuesday! It's all very exciting!

justruth

I have seen that for the first time there has been a decline in personal debt in the UK. I guess we have all started to wake up!

This is my last week of full time work before uni restarts and I have 1 week to try to take stock of my situation and prepare everything for going back, regarding money etc. I get the keys to my flat 2 weeks today and I have to get back into the habit of studying.

GF is moving into the flat with me, I know it's a lot early to be doing it but we have kind of lived together most of the summer and it does mean that we will both be better off. Her room is above a chinese (nice food but you REALLY can get sick of it all day everyday!) and she's not really happy with the set up, so she is going to move anyway. The downside is that we will have to pay council tax and her income will be counted once her course finishes in January, but still we will be better off. I have to admit I'm looking forward to it and having someone to come home to.

determinedtodothis

CONGRATULATIONS :-)

Glad to hear it is all going well - especially after the last one!

That i'm sure will be a big help on the bills, if you are both out all day, i'm sure you will find that the increase in electricity usage etc.. is hardly anything compared to the increase in household income

All very exciting :-)

justruth

I just started the home contents insurance online (buildings insurance is included in the service charge), forgot how much these things cost! Clearly went through Quidco but still having to pick myself up off the floor for the amount it's going to cost!

Still, I have just renewed car insurance, breakdown insurance and now home comtents, and I had it available (as in space in the ever increasing overdraft) but not having to pay monthly which means I can save the cash rather than pay interest on installments.

I have a friend who may be able to fix my car for me at a reasonable rate but not had quote yet.

I have money to come in before I restart uni and then student loan to carry me through.

It's looking like a positive start to the new academic year and I am trying desperately to get some more off my debt for my LBM anniversary!

justruth

With all the insurance paid for by card my debt level has jumped a bit to £14,267, but I get paid Monday so it's not actually as bad as it might first appear and I do have some to come back from Quidco on that. I also have some more to come back on invoices this week which will deal with much of the increase.

On another positive I have a couple more days work that I wasn't expecting that will bring in a little more money to beat the debt down a little.

justruth

Things with the GF have taken an unexpected twist (perhaps I should have seen it coming) that I would not feel comfortable putting on an open internet forum, but I am not entirely happy about. This may stop all our plans in their tracks.

I see the uni finance adviser in a short while, and I am still determined to not go down the debt relief order route. I have paid so much off my debt already it would feel like quitting when I really dont need to. Still it will be good to take stock of my situation with a second pair of eyes and ears.

Back down below the £14k mark and that includes 2 new front suspension coils fitted.

determinedtodothis

Sorry to hear your plans are all up in the air are you doing the scratchcards - i know its only a few pence a day but still - and dooyoo reviews?

I've been pricing up supermarkets today - and Sainsbury's, tesco and Asda basic ranges are pretty much the same price so i'm planning to try and do a basic range only shop when I get paid I only have a £50 food budget for next month.

Whats a debt relief order?

justruth

Sorted things with the GF so far, although not as comfortable as I was about it all. The debt relief order is basically a watered down version of bankruptcy and to my great relief she congratulated me on the progress I had made and said that in light of my changing situation I should avoid doing so.

I stopped with the scratchcards but may well re-start as it's all money in the pot. I haven't done dooyou reviews and I am not sure that I will start while I am so all over the place with everything else.

I have a good wage coming in on Monday again and fingers crossed I should get the keys for my new flat on Tuesday. Much as I appreciate my friends putting me up as it were, the GF only has a single bed and I am not meant to be there anyway, and my friends fouton is incompatible with my working so much.

Just waiting for Tuesday, it's frustrating but fingers crossed it will solve a lot of problems!