2009 - The Year things will Change!

RAS

lost a lot of comments when the first response went belly up.

In£1,700


Current Mortgage £545 is this repayment or interest only?
House Insurance £18
Gas £25
Electricity £12
Life Insurance £14
BT £26 - the basic rate is £11 - why the extra?
Council Tax £70
TV Licence £12
Sky £20 - you need to get rid of this unless you can get a lodger
Broadband £3
Car tax ?
Car insurance ?
car maintenance?
Mobile £30 - you need to reduce your package and then go PAYG
Parking £20
Setanta£13 is going
Fuel£250 - is extremely high, Cut your travel, reclaim from work, walk, cycle anything but use the car
Food£150 - Given your finances, head over to the old style Money Saving forum and cut this in half
Clothes?
Holidays?
Presents?
Going out?

£1208

You could save some money but a lot will be taken up with the things you have not accounted for.

Bear_Spender

RAS

Really big thanks, Ive started pulling a spreadsheet together (yes another one!!) but this time it is going to show exactly how much is at what APR's on cards and minimum payments so I can start structuring this better.

I have a fe choice tos make over the next few weeks - Choice that either mean

i) I sell my property that is jointly owned, will incur a cost in doing so, and a negative equity of less than £1000ish

Flip side have an option of paying extra £750 a month off debt

ii) rent a room out

flip side get a few hundred quid to assist

Should I sell and lose little and pay bigger chunks off debt and have a much much much earlier debt free day! or keep it, give up my space and freedom to a lodger, have a debt free day that is further away but dont give up the home im living in and the one I always wanted.

The third option of keeping everything as is, is just simply not worth considering as at the end of the day it will ruin me on all fronts!

I think they call it Lightbulb moment - Mine is officially 12/3/2009 I dont want the overhead of debt anymore!

Bear_Spender

RAS wrote: »

lost a lot of comments when the first response went belly up.




You could save some money but a lot will be taken up with the things you have not accounted for.

sorry I had missed your last post, with these comments, all valid and appreciated, need to read through them make sense of the extra that are unaccounted for on my SOA and take it from there.

Mortgage is a joint, but my ex moved out last OCT I have a balance of £2200 on her card that im paying off with her half cost of the mortgage, hence why the payment on her £2200 card is so high, but its how we agreed it would be done.

Bear_Spender

RAS wrote: »

lost a lot of comments when the first response went belly up.




You could save some money but a lot will be taken up with the things you have not accounted for.

Right then ashamedly so!!!!! God I feel Sick!
Monthly income after tax................ 1700
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1700
Monthly Expense Details
Mortgage................................ 547
Secured loan repayments................. 0
Hire Purchase (HP) repayments........... 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 70
Electricity............................. 12
Gas..................................... 25 - High questioning now with reading results
Oil..................................... 0
Water rates............................. 21
Telephone (land line)................... 11
Mobile phone............................ 30 - locked in, though am going to try
TV Licence.............................. 12
Satellite/Cable TV...................... 20 - locked in though am going to try get out by saying moving
Internet Services....................... 2.5
Groceries etc. ......................... 150 - need to plan meals, though my head is spinning!
Clothing................................ 10
Petrol/diesel........................... 160 - worked out all fill ups (I think) and this is actual
Road tax................................ 14
Car Insurance........................... 30 -
Car maintenance (including MOT)......... 21 - hadnt inlcuded before
Car parking............................. 20
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 17
Contents insurance...................... 0
Life assurance ......................... 7
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10 - hadnt included
Haircuts................................ 20 - hadnt included
Entertainment........................... 25 - hadnt included
Holiday................................. 20 - hadnt inlcuded
Emergency fund.......................... 20 - handt inlcuded
Total monthly expenses.................. 1274.5


Unsecured Debts
Description....................Debt......Monthly...APR
CC1......................9600......198.......22.47 Just come out of 0% period, will be trasnferring to CC5 at 0%
CC2......................2030......51........5.9
CC3......................300.......10........24 Low balance want to clear ASAP?
CC4......................2250......240.......0
CC5......................672.......25........24.9 Am trying to clear quickly to transfer CC1 here
CC6......................11370.....115.......5.9
CC7......................7500......78........6.9
CC8......................4900......98........24 Just come out 0% too, should be able to transfer 3200 to CC5 at 0%
Total unsecured debts....38622.....815.......-

mogchops

Hi Bear,

Saw you posted on the "what have you done DFW today" thread so thought would read your story - well done, you are really going for it!! Funny, your LBM was the same day as mine last week - & my heads been spinning all weekend too!! :rotfl:

I am feeling so much more positive since doing all this though, & have already made changes. Keep at it, am subscribing to your thread so will come back & see how you are doing!!

Bear_Spender

mogchops wrote: »

Hi Bear,

Saw you posted on the "what have you done DFW today" thread so thought would read your story - well done, you are really going for it!! Funny, your LBM was the same day as mine last week - & my heads been spinning all weekend too!! :rotfl:

I am feeling so much more positive since doing all this though, & have already made changes. Keep at it, am subscribing to your thread so will come back & see how you are doing!!

Hi thanks for the encouraging words, and support, I really do mean it I am seriously tackling it this time!! Within 36 Months totally Debt Free, Snowballing, reclaiming, Selling, Minimise spending, cut back, reduce and reuse!!!

Anything and everything!!!!

Lets do it together!!

Bear_Spender

Another £175 Quid's worth of stuff sold on ebay all going off the CC balances!

PPI reclaim to Egg, just tracked and hasnt been delivered yet, oh well they have 40 days to respond and its only been two days!!! ha ha!!

This months CC bills are just landing ont he doorstep now, so adopting the snowball payments to these and take it from there.

mogchops

Well done on the Ebay sales!! That is on my list of things to do - trawl round the house, and if its not tied down - flog it!! The kids are getting worried....:rotfl:

Bear_Spender

Yep if you've used it, watched it, played it, read it is it likely your are going to do those again? If so keep it, if not get it on ebay!

ha ha I got 6 seasons of 24, DVD's and CD's, loads of Vinyl, couple of car models, all going on there.