Our Numpty Diary

in Debt free diaries
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novagirlnovagirl Forumite
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Mainly just a rambling for us to stay motivated!

We owe roughly 6k so our plan is to keep on track with paying it off slowly but surely using our own little diary on here for motivation.

We take part in a few challenges but we don't seem to be getting anywhere fast so it's going to be a new month and a new start. We would ideally like to be debt free by Christmas so then we can start paying back our family :eek:. (They helped us out with a deposit for our house and are getting nothing back as of yet :o )

So....

I really need to get to grips with a SOA and see where we can cut back more. We have only got into this mess again as we have had to rely on credit cards to see us through after a huge electric bill and OH being made redundant.

Onwards and upwards! This week I'm going to do my SOA, enter some competitions and sell more things on ebay and a car boot at the weekend.
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Replies

  • Hi Novagirl :hello:

    Well done for starting a diary! I'm gearing up to it myself as I think it would definitely be a great motivator!

    Chuck your SOA up if you need some objective views on what you might be able to cut down on and in the meantime good luck with the 'debt free by Xmas' wish! Really hope you guys can do it.

    Ruby x
    Sealed Pot Challenge 2009 # 650 (target £150)
    Long Haul Supporters # 158 debt free 2014
    Member of the Blondettes :beer:
    Debt Free Date: doesn't bear thinking about!
  • novagirlnovagirl Forumite
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    :T Well first things first, we have packaged up some ebay sales ready for the post office tomorrow and also a couple of old phones that hopefully will bring in a few pennies.

    I've also completely emptied my change jar so that I can start from scratch. Decided that I will withdraw £50 a week :eek: on a Monday which should last me through the week and anything leftover goes in my pot.

    OH has some money leftover from selling his car so he can cope with that until he gets a new job. *fingers crossed that's soon* :D

    Off now to enter 20 competitions!
  • novagirlnovagirl Forumite
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    Statement of Affairs and Personal Balance Sheet
    Household Information

    Number of adults in household........... 2
    Number of children in household......... 1
    Number of cars owned.................... 2
    Monthly Income Details

    Monthly income after tax................ 600
    Partners monthly income after tax....... 0
    Benefits................................ 488
    Other income............................ 0
    Total monthly income.................... 1088

    Monthly Expense Details

    Mortgage................................ 267
    Secured/HP loan repayments.............. 0
    Rent.................................... 0
    Management charge (leasehold property).. 0
    Council tax............................. 100
    Electricity............................. 150
    Gas..................................... 0
    Oil..................................... 0
    Water rates............................. 50
    Telephone (land line)................... 15
    Mobile phone............................ 35
    TV Licence.............................. 12
    Satellite/Cable TV...................... 0
    Internet Services....................... 20
    Groceries etc. ......................... 150
    Clothing................................ 20
    Petrol/diesel........................... 240
    Road tax................................ 34
    Car Insurance........................... 132.5
    Car maintenance (including MOT)......... 10
    Car parking............................. 0
    Other travel............................ 0
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 0
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 7
    Contents insurance...................... 7
    Life assurance ......................... 20
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 10
    Haircuts................................ 10
    Entertainment........................... 0
    Holiday................................. 0
    Emergency fund.......................... 0
    Total monthly expenses.................. 1289.5


    Assets

    Cash.................................... 0
    House value (Gross)..................... 92000
    Shares and bonds........................ 100
    Car(s).................................. 4000
    Other assets............................ 1000
    Total Assets............................ 97100


    Secured & HP Debts

    Description....................Debt......Monthly...APR
    Mortgage...................... 46000....(267)......5.6
    Total secured & HP debts...... 46000.....-.........-

    Unsecured Debts
    Description....................Debt......Monthly...APR
    Cards..........................4500......0.........0
    Family.........................45660.....0.........0
    Total unsecured debts..........50160.....0.........-


    Monthly Budget Summary

    Total monthly income.................... 1,088
    Expenses (including HP & secured debts). 1,289.5
    Available for debt repayments........... -201.5
    Monthly UNsecured debt repayments....... 0
    Amount short for making debt repayments. -201.5

    Personal Balance Sheet Summary
    Total assets (things you own)........... 97,100
    Total HP & Secured debt................. -46,000
    Total Unsecured debt.................... -50,160
    Net Assets.............................. 940

    Created using the SOA calculator at www.makesenseofcards.com.
    Reproduced on Moneysavingexpert with permission, using IE browser.


    Only things we have had to estimate is the water and electic as our last 2 bills were messed up as of just moving into our home.
    Looks like we have a lot of work to do!
  • novagirlnovagirl Forumite
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    Just having a sorting out day today and listing random stuff on ebay.
    Also entering loads of competitions as you can't win if you don't enter!
  • Lemon_TreeLemon_Tree Forumite
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    hello and welcome to the boards, only one question is your car insurance really that's high? that's 1590 per year!
    they'll be plenty of people along to make comments i'm sure.
  • novagirlnovagirl Forumite
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    Yep it really is that high! :(
    They are both modified cars so it's very limited which companies we can go with as the insurance companies on compare sites often stipulate that they won't insure cars with modifications. That's our entertainment in that aswell though I suppose as we both love cars.
    (It is a stupid amount to spend on insurance though I have to agree!)

    We are young too at 24 and 21 so that doesn't really help with insurance premiums. (his is higher than mine as he has no NCB either.)

    As I write this I'm now seriously contemplating selling them both and getting sensible (cheaper) cars!
  • Lemon_TreeLemon_Tree Forumite
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    it just struck me that my car insurance is only £20 a month, but then i'm at least 10 years older with full no claims discount.
    Only you can decide on the cars, i admit i don't understand it but then cars aren't my thing. I guess you could say i've 'invested' my money in craft stuff. Each to their own
  • novagirlnovagirl Forumite
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    I like my craft things too :o Mind you, I don't think I'd get very far driving to get to work in a cross-stitch car! :rotfl:
  • Well Novagirl you certainly seem to have trimmed down wherever possible so you can rest assured you don't appear to be draining cash in any particular area. Definitely get involved with eBay. I listed 9 things last week, all starting at 99p (so free to list) with one photo so no fee there either and I made £42! It's a bit of a hassle but for that kind of hit I'm heading back to the wardrobe for more clothes and shoes to hock!

    Good luck xx
    Sealed Pot Challenge 2009 # 650 (target £150)
    Long Haul Supporters # 158 debt free 2014
    Member of the Blondettes :beer:
    Debt Free Date: doesn't bear thinking about!
  • natsplatnatnatsplatnat Forumite
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    Lemon_Tree wrote: »
    it just struck me that my car insurance is only £20 a month, but then i'm at least 10 years old with full no claims discount.

    That is cheap insurance..... and considering your age (see above) are you 'sposed to be driving!?? :rotfl:

    (sorry Lemon Tree!! x)
    start = Wed 19th Nov 2008 £21,225
    end = Mon 28th Sept 2015 DEBT FREE!
    I love a good plan - it may not work.... but I love a good plan!
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