My SOA (be gentle if I've missed the point here!)

3nicky1

ive copied the one on the sticky thread and added my notes. Not sure if ive done it right and clearly i spend more than this or i wouldnt be in debt but this will no doubt be revealed in my spending diary.


Income


NHS Bursary - £522

Total - £522

Outgoings


Rent £190
Electric £30
Gas £15
Internet £10
Mobile £30
Contact lenses/Prescriptions £30
Food £80?
Pet food/bedding £0.50
Travel £2-3 off placement £80 whilst on placement
RCN £4.50

Total £397.50? (not on placement)

Debts

£1900 Overdraft ( limit £1750 - interest free and free from charges)
£524.54 Credit card (limit 500) 18.9% APR (Arrears of £12.64)
£143.95 Store Card (Arrears of £11.20)
£1400 student loan from previous uni attempt
£10 to a friend
£50 to my brother

Notes:

• Water rates included in rent
• No TV so no licence required
• I have no idea how much I spend on food but I have started a spending diary and took lots of cookbooks out of the library to ensure I’m doing this cheaply as possible.
• I’m struggling to reduce elec and gas – we pay on metres and the two people I live with are really wasteful – I’ve taken to sneaking down and turning everything off regularly
• This also applies to internet as people are reluctant to change providers – I leave this house in June so things may change.
• RCN is 80p for membership and the rest subscription which I have just cancelled so this expense will finish this month
• I get my travel expenses reimbursed but this takes 8 weeks after submission of the claim and I have to wait until my 3 month placement has finished so at present I have to count it as an outgoing.

3nicky1

Oh I also owe £20 to a catalogue

RAS

Hi

We need to know the APRs for those debts.

What do you spend on clothes, going out, presents etc? Each year？

Can you get part-time agency work when you are not on placement to bring in an extra £50 per week?

3nicky1

Ive put the APR for the one I know (credit card) but I'm not sure about my store card or how it works wth student loans where would I find this?
My overdraft (and obviously the loans from friends/family) are not charged. I don't know if I'm being silly here but ive never paid interest on my catalogue purchases either.

I dont buy clothes but I guess i spend £70 through the year on presents (luckily most of my family in such dire circumstance financially and dont expect lots of expensive present buying) and £30ish a month going out but i havent been out for a couple of months (well when ive had to pay anyway) cos I havent been able to afford it.

The problem with agency work is it takes minimum of 6 months to get on Flexi (the only reputable bank in my area)which means i would have finished my course by the time i get on. I've applied for 52 part time jobs over the past two weeks though so heres hoping at least one will come off.

beanielou

YOu really need to try to get your OD & CC back within their limits.
Could you pick up an odd bank shift?

skintchick

Do you need to spend £30 on your mobile? It seems a lot. If you cut that down a bit you'll have some more cash to spend on your card bills.

3nicky1

I have a job!!! Pending CRB and refs which i cant see a problem with - it'll be an extra £120 per week but obviously as i have to wait for a CRB i wont be starting immediately.

Beanielou i cant pick up bank shifts because it takes six months minimum to get accepted onto Flexi and it's the only agency mental health wards in my area accept.

Skintchick - i think you're right but Im locked into a contract until June is there a way I can get out of this? I'm definately finding a much cheaper option come June but would do before if i can get out of my contract without incurring a big charge.