Where am I going wrong???

Flylady_Flower

Clariman wrote: »

That's 95% correct. But just to add the extra 5% , http://www.makesenseofcards.com/soacalc.html allows you to create an SOA. Having created the SOA, you can then click on the "Snowball" button which opens up the same site's Snowball Calculator and loads the data from the SOA into the Snowball. If you want to go straight to the snowball calculator, it is here http://www.makesenseofcards.com/snowcalc.html and you can either type all the details in from scratch or click on the "prefill from SOA" button.

There is an older, well-used and excellent snowball calculator at http://www.whatsthecost.com/snowball.aspx, but that is different to the one above and does not integrate with the SOA Calculator.

Footnote. I did speak with the author of the whatsthecost calculator to see if there was a way that we could integrate with my SOA calculator but it wasn't technically feasible. That is the main reason that I wrote the new one.

Clariman

Thank you for this and thank you for doing the SOA and snowball calculator on Make sense of cards too - I am in awe of people like you who can do these - I can use spreadsheets but only up to a point - a very big well done :T

I am working at the moment (can't you tell? :rolleyes:) but I will definitly be looking at these more fully tonight.

Thanks again

Flylady_Flower

Well, I didn't manage to get back on yesterday.... It all went a bit manic from late afternoon so have not done my SOA on Make sense of cards yet... I really want to do that today, so now I have dropped DS off for his exam, I'll do it after this...

DD came round yesterday to do her online form for a Student Loan for her uni course - that is now done, just got to wait for everything else to be sorted out for her - I still need to find out from the university about getting her 'statemented' for want of a better word for her Dyslexia, she struggled all through school because of it and apparently she can get extra help with the uni course with aids and stuff, so still need to find out about this.

Anyway, after we did this, she told me that she wants to move out of my Mum's because she has no privacy and no real control over her life (and, having lived with my mum for 25 years, I tried to tell her this before she moved in ). I love my Mum dearly, but she is very hard to live with, and has got worse as she's got older. She checks through her stuff (a definite no-no :eek:) controls what she is/isn't allowed to spend, checks where she is ALL the time (my DD is nearly 20 :rolleyes:) Doesn't sound much, but I think it is a lot of little things all the time that just came to a head yesterday... SOOOOO I have to clear out my office (I LIKED my office ) and make it a bedroom again for her... Oh well, it will be nice to have her back though .

Then it was a mad dash in the shower to get cleaned up for our AGM at our club - I was vice chairman on our committee and a lot of what the people were saying was true, we need to do a lot more to get things sorted, so that again was a hectic night... Am back on the committee for this year again, will have our first meeting next week and think I might be vice chairman again... hopefully it will be a good year this year...

So that is why I haven't been on so much... I have loads to do, so I'd better get on I suppose - Oh and I did 8 hours accounts yesterday, so earned £80, which was good... and on that note:

The Good Stuff...
Earned £80 yesterday doing accounts
Went to Tesco's after everything last night and didn't buy any extras, only spent on stuff for sandwiches, fruit and some other bits that we needed, although I need to start using Aldi/Lidl more after my Farmfoods shop THEN do Tesco's...
Have been sticking to my meal plan and not buying takeaways...:j

The Bad Stuff...
Nothing bad, money wise, happened yesterday, which is good news... :j

and the Naughty Stuff...
Gave £2.38 (all the change I had in my purse) to my DS to spend while I was in the AGM so he could get a soft drink and some chocolate... Not really naughty, but something I wouldn't have spent if I hadn't gone up there.

So all in all, yesterday a good day spending wise... may there be many more...:j

See you all later, off to do my SOA

mumoffour77

Hugs for your DD!!

Well done on sticking to your meal plan!!!!

Well done on the £80.........can some of this be used towards the trip on friday??

Flylady_Flower

mumoffour77 wrote: »

Hugs for your DD!!

Well done on sticking to your meal plan!!!!

Well done on the £80.........can some of this be used towards the trip on friday??

DD is fine and will get over it, she brings a lot of it on herself and although she can be very mature when she needs to be, is still just a teenager with lazy, teenage ways, it's my Mum I'm worried about as she will be on her own again now and also she was quite upset. I've spoken to her this morning and she seems a lot better, I'd better just make sure that I go round there more often I think - may even take her with me on our job next week, :rolleyes: she'd enjoy that...

I don't get paid until about the end of next week but at least I know it's coming in. I know I shouldn't but will probably eat out anyway tomorrow as it will be a nice day out with a friend and I don't often get a chance to do that, but will definitely take some of the 2-4-1 offers on here with me - just in case you know...;)

I am just finishing the SOA on Makes Sense... back once I've finalised everything...:hello:

The_Golden_Goose

Quick flyby of your FlyladyFlower diary.

My mantra is: Can I afford it? Can I pay for it in cash? Seems to work for me.

If I am having a naughty, must spend, must break the rules, must spend to make myself feel better, then I still think of mantra but incorporate, where can I buy it cheapest and can I find a voucher or deal online to bring the cost down even further, or can I redeem any points from any loyalty schemes to treat myself????

Have a superb day.

Flylady_Flower

Try again - just posted and lost it... :mad: Sometimes this evilnet gets on my nerves...

I have now done an updated version of my SOA on MSOC - great little tool that... here it is (hopefully this time...)

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 3
Number of children in household......... 1
Number of cars owned.................... 2
Monthly Income Details
Monthly income after tax................ 3033.33
Partners monthly income after tax....... 541.67
Benefits................................ 86.67
Other income............................ 0
Total monthly income.................... 3661.67
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 446.46
Management charge (leasehold property).. 0
Council tax............................. 123
Electricity............................. 75
Gas..................................... 35
Oil..................................... 0
Water rates............................. 29.2
Telephone (land line)................... 35
Mobile phone............................ 65
TV Licence.............................. 11.95
Satellite/Cable TV...................... 20
Internet Services....................... 0
Groceries etc. ......................... 303.33
Clothing................................ 0
Petrol/diesel........................... 260
Road tax................................ 0
Car Insurance........................... 59.75
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 43.33
Medical (prescriptions, dentist etc).... 10.25
Pet insurance/vet bills................. 26
Buildings insurance..................... 0
Contents insurance...................... 13.8
Life assurance ......................... 27.14
Other insurance......................... 0
Presents (birthday, christmas etc)...... 86.66
Haircuts................................ 0
Entertainment........................... 303.34
Holiday................................. 0
Emergency fund.......................... 0
Hubby to work away from Home (allowance) 866.67
Bank Charges............................ 6
Business Spending....................... 46
Total monthly expenses.................. 2892.88

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

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
F/Direct Loan..................2796.33...164.4.....19
F/Direct CC....................990.......29........27.9
Vanquis Visa - Me..............474.31....21........46.8
Rent...........................707.16....95.2......0
DWP Hardship Loan..............390.......43.33.....0
A&L Business O/D...............1000......0.........13
F/Direct Overdraft.............1000......0.........12
Freemans Catalogue.............1870.13...150.......0
Debenhams......................241.92....29.9......18
Vanquis Visa - Hubby...........475.07....22........47.89
Total unsecured debts..........9944.92...554.83....-

Monthly Budget Summary
Total monthly income.................... 3,661.67
Expenses (including HP & secured debts). 2,892.88
Available for debt repayments........... 768.79
Monthly UNsecured debt repayments....... 554.83
Amount left after debt repayments....... 213.96
Personal Balance Sheet Summary
Total assets (things you own)........... 1,500
Total HP & Secured debt................. -0
Total Unsecured debt.................... -9,944.92
Net Assets.............................. -8,444.92

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

And then did the Snowball calculator from it - I WILL PAY OFF MY DEBTS IN 14 MONTHS! - JUNE 2010! :T:j:T:j:T

That's if I stick to my plans, so I really must be good now... It's given me quite a boost...

Flylady_Flower

The_Golden_Goose wrote: »

Quick flyby of your FlyladyFlower diary.

My mantra is: Can I afford it? Can I pay for it in cash? Seems to work for me.

If I am having a naughty, must spend, must break the rules, must spend to make myself feel better, then I still think of mantra but incorporate, where can I buy it cheapest and can I find a voucher or deal online to bring the cost down even further, or can I redeem any points from any loyalty schemes to treat myself????

Have a superb day.

Thank you for that. Great mantra and one I really should use. I think that is why I know on Friday I will spend money - it's a day out after all (even though looking around for work purposes and stuff too) and why I am going to take the vouchers with me, plus my own water, etc for walking around with.

I have just copied the Snowball payments to a spreadsheet and my first months payments look like this...
Vanquis Visa - Hubby £ 210.15 to Snowball this month
That seems a bit scary...

Keeping_Positive

Welldone on updated SOA. The snowball will use all the surplus so if you stick to budget it will work but we all know that is hard. At the very least it gives you a target that should be doable if the budget is viable.

14 months is great just over a year and even with the odd slip 18 months doesnt seem too bad. My new snow ball states 35 months so 2012. I personally know this is unlikely butshows what I could do with effort.

Flylady_Flower

Keeping_Positive wrote: »

Welldone on updated SOA. The snowball will use all the surplus so if you stick to budget it will work but we all know that is hard. At the very least it gives you a target that should be doable if the budget is viable.

14 months is great just over a year and even with the odd slip 18 months doesnt seem too bad. My new snow ball states 35 months so 2012. I personally know this is unlikely butshows what I could do with effort.

Thanks, it will only be 14 months if I can stick to it and no emergencies come up, that's the plan anyway... but like you say 18-20 months would still be good... here's hoping...

Good luck with paying yours off in 35 months too - that seems a long way off but is less than 3 years and less than some loans so that's not too bad - and just think what you can do once it's done - all that money you save will have to go on a nice holiday or something that you really want to make up for all the scrimping and saving... well done to you too

mooomin

Flylady_Flower wrote: »

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 3
Number of children in household......... 1
Number of cars owned.................... 2
Monthly Income Details
Monthly income after tax................ 3033.33
Partners monthly income after tax....... 541.67
Benefits................................ 86.67

Total monthly income.................... 3661.67

Monthly Expense Details
Rent.................................... 446.46
Council tax............................. 123
Electricity............................. 75
Gas..................................... 35
Water rates............................. 29.2
Telephone (land line)................... 35
Mobile phone............................ 65 For both of you?
TV Licence.............................. 11.95
Satellite/Cable TV...................... 20
Internet Services....................... 0 Eek! No internets??
Groceries etc. ......................... 303.33 Have you tried the OldStyle board to get this down? Hehe! Even £30 per month reduction would help!
Clothing................................ 0 Budget for this just in case!
Petrol/diesel........................... 260
Road tax................................ 0 I think you need this!
Car Insurance........................... 59.75
Car maintenance (including MOT)......... 0 Need to budget for this
Other child related expenses............ 43.33 What's this?
Medical (prescriptions, dentist etc).... 10.25
Pet insurance/vet bills................. 26
Contents insurance...................... 13.8
Life assurance ......................... 27.14
Presents (birthday, christmas etc)...... 86.66 Seems high....
Haircuts................................ 0 Ach, everyone needs a haircut!
Entertainment........................... 303.34 Wowza! Can you cut this?
Emergency fund.......................... 0 You should have some kind of contingency fund...
Hubby to work away from Home (allowance) 866.67
Bank Charges............................ 6 Is this worth it?
Business Spending....................... 46
Total monthly expenses.................. 2892.88

Assets
Car(s).................................. 1500
Total Assets............................ 1500
Unsecured Debts
Description....................Debt.............Monthly........APR

F/Direct Loan...............2796.33.........164.4...........19%
F/Direct CC....................990................29............27.9%
Vanquis Visa - Me........474.31.............21............46.8% Jeez!!
Rent..............................707.16............95.2............0
DWP Hardship Loan......390................43.33..........0
A&L Business O/D........1000.................0..............13%
F/Direct Overdraft.........1000..................0.............12%
Freemans Catalogue......1870.13.........150...............0% When does this end?
Debenhams......................241.92........29.9.............18%
Vanquis Visa - Hubby......475.07.........22...............47.89%
Total unsecured debts..........9944.92...554.83....-

Monthly Budget Summary
Total monthly income.................... 3,661.67
Expenses (including HP & secured debts). 2,892.88
Available for debt repayments........... 768.79
Monthly UNsecured debt repayments....... 554.83
Amount left after debt repayments....... 213.96
Personal Balance Sheet Summary
Total assets (things you own)........... 1,500
Total HP & Secured debt................. -0
Total Unsecured debt.................... -9,944.92
Net Assets.............................. -8,444.92

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

And then did the Snowball calculator from it - I WILL PAY OFF MY DEBTS IN 14 MONTHS! - JUNE 2010! :T:j:T:j:T

That's if I stick to my plans, so I really must be good now... It's given me quite a boost...

Right, according to that you have a surplus (Woo!) which is good, but dear Lord, the interest rates for Vanquis are obscene. Are you at your overdraft limits? Normally I would advise against clearing debt with more debt, but in this case the difference in APR is astounding.

Apart from that I have noted a few suggestions, feel free to tell me naff off!