Another DFW joins the fold

iNoob

Hey everybody,

I’ve been on my debt busting mission for a few months now and was starting to feel tempted to spend the £2.5k that I had knocked off one credit card and stumbled across this site, seems like a great community on here and has spurred me on to lose the debt :beer:

Having checked the stickies, I’ve put a SOA together:


Monthly Income:

My salary - £2.250 per month


Monthly Outgoings:

Ren - £795
Council Tax - £107
Gas & Leccy - £140
Water - £60
TV License - £11.29
Sky - £22
Phone/Broadband - £20.49
Mobile- £10
Food - £350
Petrol - £100


TOTAL - £1616



DEBTS:

Northern Rock Loan - Balance £4190.25 APR 7.9% 84 months, 19 remaining
HBOS CC - Balance £11,050 (maxed), 12.9% APR
HSBC CC - Balance £3500 (limit £6k), 0% until October

Debt Repayment:

Northern Rock Loan - £167.61
HBOS CC - £110.50 (minimum payment)
HSBC CC - At least £250


Please be gentle it's my first time....posting that is!

hypno06

Hello and welcome to the mad house!

You will get loads of info, fab ideas and (most importantly) support here, if you want it.

Take a bit of time to mooch around the various boards and you will soon be knocking down that debt faster than a very fast thing on a fast day.....

bank_of_slate

iNoob wrote: »

Hey everybody,

I’ve been on my debt busting mission for a few months now and was starting to feel tempted to spend the £2.5k that I had knocked off one credit card and stumbled across this site, seems like a great community on here and has spurred me on to lose the debt :beer:

Having checked the stickies, I’ve put a SOA together:


Monthly Income:

My salary - £2.250 per month


Monthly Outgoings:

Ren - £795
Council Tax - £107
Gas & Leccy - £140 :eek:
Water - £60
TV License - £11.29
Sky - £22 Can you combine phone, TV and broadband for a better deal?
Phone/Broadband - £20.49
Mobile- £10
Food - £350
Petrol - £100


TOTAL - £1616



DEBTS:

Northern Rock Loan - Balance £4190.25 APR 7.9% 84 months, 19 remaining
HBOS CC - Balance £11,050 (maxed), 12.9% APR Can you transfer a couple of thousand onto the 0% card?
HSBC CC - Balance £3500 (limit £6k), 0% until October

Debt Repayment:

Northern Rock Loan - £167.61
HBOS CC - £110.50 (minimum payment)
HSBC CC - At least £250


Please be gentle it's my first time....posting that is!

Hi inoob and welcome to the forum!
Try saving coins in the sealed pot challenge!

Do paid surveys - check out the companies in my signature!

Sign up to https://www.seefilmfirst.com and check each day on the freebies no spend required board on here (cinema codes) to see new films for free! I just got 4 free tickets to take my family to see the new Disney film, Bolt on Saturday!
You can still enjoy yourself and be a money saving expert!
...Linda xx

Starlett

iNoob wrote: »

Having checked the stickies, I’ve put a SOA together:


Monthly Income:

My salary - £2.250 per month


Monthly Outgoings:

Ren - £795 - do you have home insurance?
Council Tax - £107
Gas & Leccy - £140 - is this per month or quarter?
Water - £60
TV License - £11.29
Sky - £22
Phone/Broadband - £20.49 - As was said before, could you combine?
Mobile- £10
Food - £350 - how many are you feeding for this? It seems very high?
Petrol - £100 - You haven't included insurance, tax, mot? are these forgotten or paid for by someone else?


TOTAL - £1616



DEBTS:

Northern Rock Loan - Balance £4190.25 APR 7.9% 84 months, 19 remaining
HBOS CC - Balance £11,050 (maxed), 12.9% APR
HSBC CC - Balance £3500 (limit £6k), 0% until October

Debt Repayment:

Northern Rock Loan - £167.61
HBOS CC - £110.50 (minimum payment)
HSBC CC - At least £250


Please be gentle it's my first time....posting that is!

Hello and a warm welcome!!

I've asked a couple of questions? Also you haven't included birthdays / christmas / entertainment etc...?

By my calculations you have £105.89 spare each month? Is this what you have spare each month? If not where does it go? Maybe try keeping a diary - I was amazed at just how much I was spending on 'junk' without realising when I kept a diary!!!!

Why are you paying a higher amount on the 0% card?? Have you done the snowball calculator?? http://www.whatsthecost.co.uk/snowball.aspx

Starlett x

Toni_Broke

Hi and welcome

Great advice already given as usual, i would def do the snowball - its a great tool.

Tonixx