My SOA - Oh dear!

debrag

rachaelfleur wrote: »

Oops! I didn't include the payday loan as an income on my previous SOA, that's really dumb of me. I'll definately remember this month to include it. Hopefully I'll get a small loan to get rid of it completely though. Although here's my negative thought for the day, good things never happen to me :rolleyes:

if you haven't included it where is this extra money going?

So
incoming = 1689+525 (payday loan)
outgoings = 1037
unsecure debt payment = 1261.41 (incl payday loan)

Left over = 953

EssexHebridean

Hi Rachael

Try not to panic too much - you're in the best possible place to sort things out now!

Head over to the OS board and take a look at our various challenges on there - one thing that you might find a useful exercise is meal planning - first note everything you have in food-wise, then plan your meals for the next week, fortnight, however long you feel comfortable. Some stuff you will have to buy fresh each week - milk, bread, fruit and veg. What works best for me is to shop at the supermarket once a week, and once a week only. I spend approx £150 per month on food/cleaning stuff etc for two of us (OH is a big eater) and the cat. Write your shopping list as you go along, pricing each item up through MySupermarket.co.uk as you go along, that way you know exactly how much you'll be spending when you get to Tesco/Sainsbury/Asda. Take your list along with you and STICK TO IT! You should be able to cut your bill by something approaching half - read Martin's articles about cutting supermarket spends too.

Can I also suggest that you keep a spending diary so you can track those little odds and ends spends.

Good luck - and no more negative thoughts!

EssexHebridean

debrag wrote: »

if you haven't included it where is this extra money going?

So
incoming = 1689+525 (payday loan)
outgoings = 1037
unsecure debt payment = 1261.41 (incl payday loan)

Left over = 953

The payday loan is only £400 remember - £525 is the amount to be paid back which is why it's vital that the OP get rids of this millstone each month ASAP

rachaelfleur

debrag wrote: »

if you haven't included it where is this extra money going?

So
incoming = 1689+525 (payday loan)
outgoings = 1037
unsecure debt payment = 1261.41 (incl payday loan)

Left over = 953

Unfortunately £525 is not the loan, it's the payment. Loan was only £400, although this month I dropped it to £380. Not sure if my figures are totally correct for the rest, will be posting a new SOA as soon as the bills arrive.

debrag

True plus I didn't add up the outgoings.

incoming = 1689+400 (payday loan)
outgoings = 1037
unsecure debt payment = 1261.41 (incl payday loan)

Left for debt = 1052
amount to find = -209 (basically the payday loan interest)

next month

incoming = 1689+380 (payday loan) = 2069
outgoings = 1037
unsecure debt payment = 1211.41 (incl payday loan £475 to pay right?)

Left for debt = 1032
amount to find = -179 (basically the payday loan interest)

Cut back as much as you can for 1 month, with arrears that will be hard

rachaelfleur

EssexHebridean wrote: »

Hi Rachael

Try not to panic too much - you're in the best possible place to sort things out now!

Head over to the OS board and take a look at our various challenges on there - one thing that you might find a useful exercise is meal planning - first note everything you have in food-wise, then plan your meals for the next week, fortnight, however long you feel comfortable. Some stuff you will have to buy fresh each week - milk, bread, fruit and veg. What works best for me is to shop at the supermarket once a week, and once a week only. I spend approx £150 per month on food/cleaning stuff etc for two of us (OH is a big eater) and the cat. Write your shopping list as you go along, pricing each item up through MySupermarket.co.uk as you go along, that way you know exactly how much you'll be spending when you get to Tesco/Sainsbury/Asda. Take your list along with you and STICK TO IT! You should be able to cut your bill by something approaching half - read Martin's articles about cutting supermarket spends too.

Can I also suggest that you keep a spending diary so you can track those little odds and ends spends.

Good luck - and no more negative thoughts!

Shopping is a big issue and spend. My OH is a fitness trainer so eats loads and often. We do share the bill but I still need to make cuts somewhere. That's a great idea pricing my list before I even go to the supermarket, I'll definately be doing that from now on, thanks so much for the tip.

I really appreciate everyones help, I know things will get better but I can't help getting down in the dumps sometimes. This site has really helped, don't know what state I would be in without all your kind words and advice.

rachaelfleur

debrag wrote: »

True plus I didn't add up the outgoings.

incoming = 1689+400 (payday loan)
outgoings = 1037
unsecure debt payment = 1261.41 (incl payday loan)

Left for debt = 1052
amount to find = -209 (basically the payday loan interest)

Definately need to go through my figures with a fine tooth comb. I know I've made a mess this month, just not sure where. I'm not going to feel overwhelmed though, I'm going to deal with it head on.

TotallyBroke

rachaelfleur wrote: »

I really appreciate everyones help, I know things will get better but I can't help getting down in the dumps sometimes. This site has really helped, don't know what state I would be in without all your kind words and advice.

We all get down in the dumps from time to time but it's being able to lift our moods again that makes it worthwhile.
To help me I have a spreadsheet that has columns for incomings, outgoings and a total of what is in my bank at that precise time. Every Friday I put down £50 for petrol and food. If I spend £30 on groceries then I only have £20 for petrol or vice versa. I never spend anything near that but it is there incase. It means I can juggle around money and it also means that at the end of the month, payday(28th) on the 27th I can go into the bank and pay towards a bill with all the spare cash from the account. Then the next month starts with the new wages.

rachaelfleur

Ok so I'm having a real rotten day. I'm full of the cold and one of my direct debits has just bounced. Which means calls from the creditor and bank charges :mad:

I don't know what to do now because this is the second time in the past few months I haven't been able to pay it. Last time I actually cancelled the direct debit and got letters and calls from the creditor. They would'nt accept my reason as general shortfall so I had to lie and say it was for car repairs. In the end they just added back on to the loan repayments with a £10 charge of course. I'm really worried this time because it's so close to the last one and I don't think they'll be so generous, they weren't exactly nice about it before. They'll probably ask me to pay the full amount, which I can't possibly afford as I'm still catching up with my rent and council tax. Oh god I feel sick, just want to bury my head in the sand again.

debrag

can you not contact payplan or cccs and do a DMP?