MW's plan

MoneyWaster2007

Hi! I'm 24 years old, 25 in May, and my current level of debt is £4,345.08 (£3,645.08 personal loan and £700.00 overdraft). The debt I am going to tackle first is my overdraft, as it is a higher APR than the loan and is therefore costing me the most to service (loan APR=11.5%, overdaft EAR= 19.5%).

Here's my SOA:

Monthly Expenditure: Loan: £174.20
Overdraft : £9.00 (maximum)
Housekeeping: £120.00 (still live with parents)
Haircut + Gel: £18.00
Tobacco: £20.00

I also like to have the occasional night on on the town with friends, which costs me £40.00 (minimum). But I am cutting out any needless spending at the moment, so I'm having no social life until I'm back on my feet...

I was sacked from my previous job in January for gross misconduct (theft by employee (I've learned my lesson, life has been a nightmare!!)). And miraculously, I have got a new job after 7 weeks and 2 days of being unemployed. Although it is only temp work, hence my choice to cut out my social life entirely until I have paid my overdraft, which will then act as a cushion should things go wrong with work.

So...I have a plan of sorts...I will work out what I have to spare each week when I receive my first paycheck (Friday). And start to tackle my overdrft using surplus income from there.

Will keep you updated on any extra payments I make into the overdraft or loan (if I get that far, low wage and all). Thanks for looking :T

MoneyWaster2007

Just got a tax rebate of £75.00!! Yipee!! I have stayed in this weekend and not spent a penny of my wage and have managed to save £155.00, which I have left in my current account, thusly reducing my overdraft. So very bored though, not much you can do with no money...

YummyMummy20

Hi MW,

Gosh your folks are nice letting you off with £120, wanna swap??
I reckon I'm owed about £300 in overpaid tax, how do i get a rebate thingy??

Good luck with amusing yourself!

YM20 x

MoneyWaster2007

Yea £120.00 is very nice, one of the plus points of living with parents...

...I got my rebate because when I was out of work and signing on at the jobcentre, I had to hand in my p45, parts 2 and 3, which then got sent off to the tax office. If you are due a rebate it will automatically be paid into your account and they will send you a letter to confirm it. Hope that helps...

...I'm toying with the idea of going out tonight, need to resist!! All that will happen is I will wake up in the morning with a hangover and out of pocket and thinking what was the point of that...but I've done absolutely nothing all day except potter about the house...so bored....must resist....

YummyMummy20

I'm stuck at home, pay more than that AND have to buy my own and clean up after everybody!! Do you think your parents will adopt me?? Although I don't think its possible to adopt 20yr olds.

Go out and get somebody else to pay best of both worlds!!

YM20 x

MoneyWaster2007

Just gonna stay in now, get in the bath and relax, then shouldn't be too bothered about going out. I used to work in a nightclub fri/sat nights til 4:30 am, then clean up puke and stuff and get out at about 6:00 am. Thank God i dont do that any more. I have sympathy for you Yummy Mummy, hey its mothers day tomorrow... i got my mum a single, 'valerie by amy winehouse,' because i heard her say that she loves that song a couple of weeks ago....and guess what i got my mate to burn it onto a cd and it cost me nothing (God Im getting tighter by the minute) hehe... a bit of ironing music for her bless her

YummyMummy20

I don't clean puke thankfully, the poor glass collectors have to do that plus my boss knows if he even suggested I did something so gross he'd pay for it somehow! I think i'm the only person whos never taken the bins out at the end of the night or infact ever touched a bin at all :rotfl:

My dads sorted a present from my lil monster out apparently and i'm going out tomorrow night (free entry/free drinks where i work then on to somewhere less full of students) oh and then back to work for 2am for a mini-party for the assistant manager who's leaving this weekend. Looking forward to bed Monday night already!

Haha, its the thought that counts! I don't really get on with my mum so shes getting a Tesco Value card I bought on the way home last night/this morning, I say 'I' bought, i mean my mate bought since he had to go buy gum after spewing up my Apple Sourz. I'm pretty sure he doesn't even remember!

fairydiamond

How did you get jobseeker's allowance if you were sacked for theft?!

MoneyWaster2007

fiary diamond- when i first started my claim for jsa, they had to investigate the circumstances of my dismissal, which took them a few weeks, so until they had done that they had to pay me jsa

Yummy- a free night out, that cant be bad! on mothers day aswell, hope you have a nice time

YummyMummy20

I hadn't read that... theft?? :eek: Thats naughty!!
I love the fact you confessed that to like the whole of the internet though.
I stole till roll from work to make a snowman chain once, with my LO obvs, not by myself (the making, not the stealing :rotfl: )

MoneyWaster2007

yea it was naughty, but not something i would recommend anyone to do. nobody knows who i am on here so its ok to talk about stuff like that.

you stole a till roll, hahahaha, thats funny! good idea though to make a snowman chain like it.

in terms of theft, its not something i will ever do again, lesson learnt methinks. very very stupid.

did you have your little one stood at the doors on lookout while you swiped the till roll?