Burlesque Babe's Re-building life but back in debt diary

Burlesque_Babe

OK my SOA - and then a few explanations at the end

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 0
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 650
Partners monthly income after tax....... 80
Benefits................................ 99
Other income............................ 200
Total monthly income.................... 1029
Monthly Expense Details
Mortgage................................ 771
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 91
Electricity............................. 45
Gas..................................... 45
Oil..................................... 0
Water rates............................. 47
Telephone (land line)................... 0
Mobile phone............................ 5
TV Licence.............................. 12
Satellite/Cable TV...................... 35
Internet Services....................... 0
Groceries etc. ......................... 90
Clothing................................ 10
Petrol/diesel........................... 20
Road tax................................ 15
Car Insurance........................... 0
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................. 17
Buildings insurance..................... 6
Contents insurance...................... 7
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 15
Haircuts................................ 5
Entertainment........................... 15
Holiday................................. 15
Emergency fund.......................... 0
Total monthly expenses.................. 1276

Assets
Cash.................................... 10400
House value (Gross)..................... 190000
Shares and bonds........................ 1500
Car(s).................................. 1000
Other assets............................ 0
Total Assets............................ 202900

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 123000...(771)......5.44
Total secured & HP debts...... 123000....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
MBNA 1 (9559)..................1965......25........16
MBNA 2 (7093)..................1130......25........16
Sony Pulsebeat.................400.......25........16
Abbey overdraft................1700......0.........0
Total unsecured debts..........5195......75........-

Monthly Budget Summary
Total monthly income.................... 1,029
Expenses (including HP & secured debts). 1,276
Available for debt repayments........... -247
Monthly UNsecured debt repayments....... 75
Amount short for making debt repayments. -322
Personal Balance Sheet Summary
Total assets (things you own)........... 202,900
Total HP & Secured debt................. -123,000
Total Unsecured debt.................... -5,195
Net Assets.............................. 74,705
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

A few notes:

I've said 2 adults because OH is here each night, but he has his own house so his own bills.

Partner's income: this isn't his income - it's the amount he contributes to the food each month. I do a 'big shop' at the beginning of each month and stock up with all the essentials with a home delivery from Asda.

Car insurance: currently 0 because it's paid up for the year. On the CC which was 0% at the time and of course I was going to pay it off in time :rolleyes:. Would equate to around £15 per month if I were paying monthly.

Gas and electric: I joined Scottish Power in October and they said Ineeded to pay £34 per month. I got a horrid shock with a bill last week for £314 as it seems I wasn't paying enough so the DD is currently set to £90, first payment out end of this month (gulp). However, one of my ailing shares had a spurt and it produced enough profit for me to look to pay off a big chunk of this in the next week or so. This means after 1 large DD payment I'm going to switch providers again to get it back down.

Telephone line and calls/cable/internet : all one bundled payment to Virgin. Considered getting rid of the landline last month but it meant I lost out on some of the reduced prices. Could get a Freeview box but I have so few luxuries, I do want to be able to watch a couple of programmes on channels Freeview doesn't have

Entertainment: I've done it as a yearly add up. I've accounted for a works meal at Christmas and a couple of DFW meets. I don't really have that much of a social life outside that :rolleyes:

I've applied for a water meter today. Apparently will save me around £10 a month.

The amount short per month is the amount I've been transferring from my savings.

Aaaah, my savings..........I know some of you will bang your head on the desk but I just can't let any more savings go. I know i'm paying more in APR on my CC's, but I just can't do it. My shares are their current value - hopefully they will get back to at least what I paid for them within the year, they are all sitting there in red witha big fat minus in front of them apart from one which has climbed back up . Any profit I'll probably start creaming off for my debts as I've done for the utilies bill.

Gifts: i've estimated the amount across the year I spend. I go through Quidco for everything I can, I use ebay, vouchers, money off codes etc etc etc.

Burlesque_Babe

ok - has a bloody big shout gone out to everyone??!!!

I've just put the phone down to British Gas!! They want me back as a customer and will offer me this, that and the other.

I didn't say I had a huge bill I was just about to pay off but I will certainly consider there offer when i've sorted Scottish Power.

right, who is going to call me next?! :rotfl:

Burlesque_Babe

OK - a few bits of progress already, not sure how it will affect anything - I may just have to keep most of it to get me through this/next month rather than it going towards debt.

I've just checked an old online account and it had £30.90 in. I don't use it, so I've closed the account and the money should be back in my main current a/c in the next few days.

I've checked my main ISA and it's paid out the interest. With last years, there is £287 interest........that would chop a big chunk off a CC without affecting the amount sitting there. Should I withdraw the interest?

AQA - I am earning a fraction of what I could/should be earning and that's why I'm taking money from my savings. No excuses, just pure lazyness really. Thing is, with 2 other jobs, (and the paperwork with teaching), AQA has become a double edged sword. I need to do it to pay the bills, but not doing it gives me a fairly 'normal' working week - and some time not working over the weekends.

I started doing scratchards yesterday. Bit of a drop in the ocean but at least it's something.

shaun40400

Burlesque Babe
can i say welcome back???
just flashed through your other posts,,,,so
1) you done it before ,,,you can do it again older and wiser:cool:
2) your not on your own you've already got a lot of mse friends on here
3) comparing to last time your already at step3 well ahead of the game!!

4) this time you have the most baaaaaaarrrrrrrrking mse er to bring a little sunshine into you life (i hope)
"life is like a box of chocolates"
full of s*itty flavours that we don't rally wont to eat,
but have to too find the nice one!!:rolleyes:

System

Hi BB, nothing to add except Im with you on the keep the savings as they are a sense of achievement I suppose and it 'kicks your !!!' back into MSE mode. THere isnt much in your SOA for maneuver as you are doing everything you can anyway excpet maybe that OH could contribute more perhaps. I remember your 'original' posts and you always say the right things to those that are in need and a very considerate person (unlike me perving all the time ) and very very switched on. I regret not being able to spend more time chatting with you in Manchester but I suppose I didnt speak to many people as long as I would have liked; the day seemed to go very quicklyIt would seem that more earnings are required to. really get you back up to speed. Do you have anything in the pipe line

rupe34

Hey BB - well done for posting :T- can't believe you have had such a rubbishy time over the past couple of years. Supporting you all the way.

Burlesque_Babe

shaun - thankyou - your avvy and comment made me laugh - I do feel like I'm eating a whole box of mint cremes at the moment (bleurgh!)

Lenny - I've applied for 2 jobs. One is way, way above me and I don't stand a snowball's hope in hell of an interview so I'm not even thinking about that one. The other is a job I applied for yesterday which is full time, 23k, still with the same organisation I'm with and kind of 'pushed at me' a while back. Who knows, I might get an interview for it.

sammy115

BB - what about a 0% balance transfer for your cards...I know you applied for some before when they had quidco on them......its worth a go and then at least you are saving yourself the interest.

I also appreciate how you feel with the three jobs....its clearly not paying off. You would be as well getting one better paid job (and I know you have applied for one) easier said than done. The only thing I can say on the SOA front is could your ex oH not shoulder the pet insurance in the shorterm. I also know you are in a fixed rate mortgage so you are stuck there. I think your problem is not what to do with your SOA but how to up your income.....

Spending diary is the way to go. I have just started to keep one again as I had also slipped big time.....

Burlesque_Babe

Probably can't do a deal with the ex over Charlie's insurance - the deal is I pay for the insurance, he pays for all his food and treats (the ex, not Charlie - bless him, he isn't sent out to earn his keep :rotfl: ) and I know we aren't together but I feel it is something which works. He's just had to take a 20% pay cut and has found out he doesn't have a job at the end of next term (his school is private and is merging with another locally) so I don't really want to burden him with anything else.

Yep - locked in on the mortgage until July 2010. I had a pants mortgage when I first moved here as I had a CCJ and 2 defaults. When I got this one I had just the CCJ and that has now dropped off so I can now look at getting a High St prime mortgage. It's one of my aims - to be in a job with a salary which means I can change mortgages as soon as I'm out of this deal. I was on 28k so I will need to be somewhere near that by July 2010 otherwise I'll go onto their variable rate plus a bit, but that may not be too horrific with the current base rate, unless it shoots up again.

I agree with the spending diary. think I'll start one. I had got into an awful habit of buying a can of Diet Coke and 2 Wagon Wheels at work each morning which was costing me £1.00 a day, 4 days a week - it all adds up- I've checked it on the demotivator!

I've snowballed and just on minimum payments I'm looking at some time in 2017 before it's paid off (eek!) but Jan 2012 if I can double my payments. That's still too far away. I want to be debt free by 40 (13 months) - which was my aim last time I had a diary :rolleyes:


Shaun - just realised - you're in Dublin I love Dublin - I lived and worked there for a year.........sigh.......happy memories........

sammy115

well I am 43 and still not debt free.....I am just putting together a budget again...spurred on by you.
I too went through a tribunal and it does have a strange effect on your self confidence. I am still suffering to an extent but everyday I realise I am getting better....you can do it BB!