Right, Third time lucky, I will do it this time

angie_baby

I’ve had a diary before, I started it in 2007, left it and then came back in 2008. But ive decided that I need a complete fresh new start. I NEED to clear my debts and get back on track to be Debt Free.

So little bit about us,

It’s just me, DS Joe (7) and the cat, Dennis. We live in a 2 bed flat rented from housing association. It’s not in a great location, but it will do until I get us debt free. And start saving for a deposit on a house.

I work full time for a transport company in there accounts for the last 6 years. I’m also lucky enough that my dad works at the same place, which is great for me as most of the time I get a free lift home!

Around 3 years ago I had £10k on a credit card, that is now down to £1873.16 this was down to mostly me being daft and thinking I was in love and buying a car for them, who promised to pay me back but never did. BUT this is not my only debt and I have managed to run up the following all by my self

HSBC £1873.16
Vanquis £1118.22
Capital One £421.51
Argos £390.00
Next £1300
Great Universal £636.15
O/Draft £500

TOTALS £6239.04

What I earn / what goes out

Monthly
Net Wage £1300.00
WCT £65.00
CB £80.00

Weekly
CTC £95.38 at 4 wk month
= £381.52

TOTALS £1826.52


Outgoings

Rent £400
C Tax £78
Gas £25
Water £12
Electric £15
TV License £12
BT £37
Home Ins £11
Cat Ins £11
Food £100
DS Tutor £100 (£25p/w)
Clothes / Going out £100
Travel to work £52
Smoking £35
Books 1 £10
Books 2 £5
Great Uni £80.00
DWP £10
Argos £50
Next £50
HSBC £50
Vanquis £50
Cap One £50
Dentist £50
Osteo £35
C/Care £300

£1782.00

So really every month I should have £98.52 left to pay of debts, but I don’t.
This month im already very short on money but will have to write another post on that as I haven’t worked it out yet. All the debt repayments are minimums rounded up. Also I haven’t included any overtime as it’s not always there, or im not able to do it. If anyone has any ideas on bringing any of these down, please do so. I never really realised it was quite so tight each month.

clearmydebts

Hiya,

Just wanted to wish you the very best of luck with your new diary. I am bad for writing on mine but do log on quite a bit to keep me motivated!

Deep_In_Debt

hi and welcome

Firstly can you cut your clothes/going out expenditure? That would help.

Also, have you shopped around for pet insurance? I have 2 cats insured for £12pm for both.

What is the books expenditure for?

angie_baby

Hi,

It is possible to cut clothes/going out stuff. Its me being a little bit greedy. I suppose £50 would cover the month, we both have enough clothes for a couple of months until summer. But DS does need new school shoes and trainers next month He is just growing so much at the moment. And ive just received my tesco vouchers so could convert them into days out for DS and I.

Cat insurance was the cheapest i could get at the time, ive only had the policy for 6 months now. Dennis cant go out so does seem a bit steep to me, but he is nearly blind too, so i suppose they took that into consideration. But will have a look for when its re-newed.

The books are books i bought from grolier (sp), the £10 one is now at £54 left to pay and the second has its last payment in April. I should never have got them but im not very good at saying no, hence why im still here.

firesidemaid

how do you travel? as there are ways to cut costs with public transport.

can you reduce your smoking costs at all? or take it out of your entertainment budget instead?

also what are the aprs on the debts - which should yoou bust first?

can you reduce your home and/or cat insurance and get some cashback from quidco when due?

BT is quite dear - what does that include?

earplugs

Hi Angie

What Im going to ask here is not being judgmental I just want to know so I can help you with a budget sheet if thats ok? I'm an ex CAB debt adviser so when I say things below its only cause I know what your credit companies will pick up on and if you can word your budget sheet accordingly, then you won't have any problems from them.

In relation to the food bill, you've not put down enough. Did you mean to put £100 per month? The trigger figures which the credit companies will accept and won't query will allow you to put up to £364 for food for you and you little un, so you might want to see if the food bill is actually a bit more.

On saying that!! if you put £100 down for clothes then the credit card companies will query this - so if you were to lower the amount for clothes on your budget sheet to say £30 - £40 per month then they are less likely to query this.

You've put down an amount for telephone, does this include mobile and landline? you can put another tenner on there without the credit companies querying it.

In relation to the dentist and osteo bills, are these monthly bills or a payment plan that you have with them to pay back larger amounts owed?

Sorry for being a snooper but if you post these answers I'll be back on tonight and if you'd like, i can have a look at doing a budget sheet and see what you can actually afford to pay back to the credit companies per month if you feel that things are tight at the moment.

angie_baby

The smokng I am working on, I used to smoke alot more. And i will quit soon, its just to expensive and i cant actully smoke anywhere now anyway.

Travel is for the train to work at £2.60 a day, based on a 20 day working month. I did look at getting a weekly but its still cheaper to buy it day by day. I also sometimes have to get a train home if my dad has a emergency at work.

When i got both insurances, i went through quidco, they are both due for renewal in 6 month i think.

BT is just for home phone and internet, it was the cheapest i could get internet access here at the time, im sure i can swap at any time if there is another provider in my area, plus i dont even make any calls on it!

angie_baby

earplugs wrote: »

Hi Angie

What Im going to ask here is not being judgmental I just want to know so I can help you with a budget sheet if thats ok? I'm an ex CAB debt adviser so when I say things below its only cause I know what your credit companies will pick up on and if you can word your budget sheet accordingly, then you won't have any problems from them.

In relation to the food bill, you've not put down enough. Did you mean to put £100 per month? The trigger figures which the credit companies will accept and won't query will allow you to put up to £364 for food for you and you little un, so you might want to see if the food bill is actually a bit more.

On saying that!! if you put £100 down for clothes then the credit card companies will query this - so if you were to lower the amount for clothes on your budget sheet to say £30 - £40 per month then they are less likely to query this.

You've put down an amount for telephone, does this include mobile and landline? you can put another tenner on there without the credit companies querying it.

In relation to the dentist and osteo bills, are these monthly bills or a payment plan that you have with them to pay back larger amounts owed?

Sorry for being a snooper but if you post these answers I'll be back on tonight and if you'd like, i can have a look at doing a budget sheet and see what you can actually afford to pay back to the credit companies per month if you feel that things are tight at the moment.

Hi,

I did mean to put £100 down for food I like to cook from scratch and enjoy it too. Our meals are quite basic but enough for us. I also bake things like bread and cakes so that helps to keep food costs down and us heathly.

Going out / Clothes does seem quite steep i suppose, its just DS always seems to need something, new jumpers / shoes. And because i work quite a bit, i like to take him out on the weekends, like swimming, theatre shows, and other things Plus i dont always be so old style on these days and tend to eat out which i know sometimes is such a waste of money.

Denist is a estimate, i havent yet been back since emergency treatment and i know its not going to be good. 2 root canal treatments have to be re done as the dentist who did them a few years ago didnt do them properly, plus i need other work done im sure

Osteo is for once a month only, my back is really tight, if i could afford it i would go more than once a month, i did look at trying to find training colleges but the distance was to far to make it worthwhile, after travel and finding child care for DS.

So far everyone is happy with what im paying, well they have accepted it.

I really do want to be Debt Free by the end of 2009

Horace

With kids clothes especially as DS is shooting up like a beanstalk - look at Freecycle, sure the clothes will be pre-loved but they will at least be free. Also see if you can sign up for Martin's weekly email as on there he will list any money off vouchers that are available as well as any freebies so that you can take DS out for less.

Keep a spending diary so you know where your money is going and stop buying from catalogues as the interest rates on them will be astronomical. Cut up your credit cards too. Also see if you can shift some of the debt over onto a 0% balance transfer card.

Join your local library (its free) and borrow books from there instead of buying them all the time.

Not wanting to sound cruel but as Dennis the cat is almost blind, would it not be kinder to have him put to sleep?

angie_baby

Its not sounding cruel at all.

Hes got about 60/40 vision and it will get worse, me being a bit ott there. At the moment it is ok, and not getting any worse, but it will. When the time comes i will do the best by him. The vet cant give a time scale, it could take years to get worse. But until then he is very much loved and asleep on DS bed. He can still get around the house without bumping into things, Hes definatly a menace. He does have regular vet check ups - about every three months which does cost, but as i said at the moment he is a happy, loved cat. He was never an outdoor cat so i suppose he doesnt miss that. I know the time will come, we havent had him long, but hes still part of the family and manged to rip his xmas pressies apart.

Cards have been shreaded, and i wont be spending on a cataloge ever again unless im paying for it there and then.

angie_baby

Ok,

As im really in a tight spot for the rest of the month ive made a list of all food in the flat, aim is too meal plan for as long as poss, not only to save money over the next month or too, but to have a clear out too.

FREEZER

1 whole chicken
2 bags peas
1 bag sweetcorn
2 duck legs
[strike]1 broc and stilton soup - h/m[/strike]
3 fish in sauce bags -for my old style sins i still love these, reminds me of being a kid - pure confort food with mash and peas
6 chipolata sausages
1 bag oven chips
1/2 bags of peas/s.corn/green beans
1 bag prawns
5 h/m kebabs
1 shepherds pie - no top
x2 mini " - " - " - " - "
1 bag quorn mince
x3 tom h/m pasta sauce
6 h/m veggie sausages
3 h/m veggie burgers
6 h/m fish cakes
[strike]1 h/m lasana[/strike]

FRIDGE

4 eggs - need using
milk
butter / baking fats
yohurts for DS lunches
oranges x2 DS lunches
onions
x2 leeks
garlic
potatoes
[strike]apples[/strike] made crumble for Sun Afters, Dad round
pears
sweet pots
[strike]x4 carrotts[/strike]

CUPBOARDS

x4 bags/packets various pasta inc spag and lasana sheets
x1 bag cous cous
x2 creamed coconut
x1 lentils
x1 1/2 porridge oats
tin toms
x3 chinese sauce thingys
mango chutney
popadoms
x1 tuna
x2 makeral in olive oil
x1 anchovies
x1 corn beef
x1 butter beans
x1 kidney beans
x1 chick peas
x2 spag hoops
x2 tom soup
x6 noodles
x2 rice pudding
basmati / pudding & rissotto rice
poping corn
1 1/2 bread flour
x2 sugar
mini marshmellows
choc chips
decoration bits
icing sugar
cereal x1
suet
jelly
angel delight

Basic spices

plus

corridander
garam masala
tumeric
chilli powder