my diary of debt :-(

myothercarisaferrari

Evening all

I am a long time lurker of MSE and absolutely love it.

A bit about myself: I am 26 and live with my partner and our dog. I have a full time job, a part time job and a mountain of debt that I wracked up before I met my boyfriend.

I had my lightbulb moment at Xmas but I am ashamed to say its taken me until now to do something about it.

Now, here is my SOA. The minimum payments I make on the debts I have are basically what I have been paying as and when I can. I havent included my partner's wage as he pays nothing towards my debts (everything is halved). If anyone can help or make suggestions, it would much appreciated.

I hope I have included everything!

Household Information[/b]
Number of adults in household........... 2
Number of children in household......... 0
Number of cars owned.................... 2
Monthly Income Details
Monthly income after tax................ 1013.13
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 196.66
Total monthly income.................... 1209.79
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 260.56
Management charge (leasehold property).. 0
Council tax............................. 36.5
Electricity............................. 40
Gas..................................... 40
Oil..................................... 0
Water rates............................. 10.95
Telephone (land line)................... 22
Mobile phone............................ 5
TV Licence.............................. 11
Satellite/Cable TV...................... 20
Internet Services....................... 0
Groceries etc. ......................... 160
Clothing................................ 20
Petrol/diesel........................... 100
Road tax................................ 10
Car Insurance........................... 55
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................. 14.56
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 50
Emergency fund.......................... 0
Total monthly expenses.................. 895.57

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 400
Other assets............................ 0
Total Assets............................ 400

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
loan...........................3674.88...100.......0
council tax....................644.52....40........0
gas bill.......................463.31....40........0
electricity bill...............186.81....40........0
Total unsecured debts..........4969.52...220.......-

Monthly Budget Summary
Total monthly income.................... 1,209.79
Expenses (including HP & secured debts). 895.57
Available for debt repayments........... 314.22
Monthly UNsecured debt repayments....... 220
Amount left after debt repayments....... 94.22
Personal Balance Sheet Summary
Total assets (things you own)........... 400
Total HP & Secured debt................. -0
Total Unsecured debt.................... -4,969.52
Net Assets.............................. -4,569.52


thanks guys. I look forward to hearing from you!

beanielou

Great news on your LBM
Your grocceries seem high ~Im sure you could reduce them.
Have you checked your car ins is the cheapest you can get?
Could you have a car boot/ebay to help get the utilities debts down a bit?

myothercarisaferrari

sorry - that is £40 a week for us both :-)
My car has two more payments on in (may and June). It will cost me more to lower it or change it at this stage so I'll have to let that run. Its another year no claim and the best quote I have had is £17 per month :-)
I have ebayed and carbooted everything I own, pawned a lot of jewellry, sold my beloved IPod and a few other bits. My car is my only 'asset'

xx

Fire_Fox

Mobile phone is very good! It's a bit unclear if all your other outgoings are what you pay or what you pay between you? The TV license should be half that for just you. Gas and electricity are high - we pay £34 a month between the two of us. You should increase your car maintenance budget - £120 a year won't do MOT and repairs, surely?

myothercarisaferrari

mobile phone is with orange. I top up £5 per month and get 600 free texts - thats all I use it for.

Everything on there is split 50/50 other than the TV licence which I pay for (he pays for buildings content which is the same price so just made it easier for one of us to pay each!)

gas and leccy are actually arrears with British Gas. they sent us a new bill in January with the correct rate on (they had been charging us less) so we are payiong that off as well.....

Yes I need to increase my car stuff. how much would you say?

myothercarisaferrari

I love the idea of this being a secret diary that my friends/partner/family etc don't know about (if that makes sense?)

Spent my last £7 on petrol this evening (payday on Friday) so I hope it lasts! Its OH's birthday in May so I need to have a think of what I can get him....

ragstoricheswannabe

:DHi, am loving the name!!!!

Welcome to diary land!!!!! and well done for posting ending your days as a lurker!!

As someone esle has said, your grocery bill is a tad high if you are paying half, spesh for just 2 of you and a dog................................. check out the food shopping and old style board where you will find loads of ideas on how to do this from shopping savvy to meal planning!

Good luck with it all, you will soon be as addicted to beating your debt as the rest of us!!!!!:D

Love rags
xxxxxxxx

myothercarisaferrari

the ferrari is my weekend car:rotfl:
the real one is an 18 year old banger.....:money:

love MSE. love everything about it - the advice, the debates, the freebies and the icons :money:;):D:j:eek:heehee

Yes I need to speak to OH about the grocery bill. We aim to spend about £40 per week (although this can go up to £60 or £70 :eek:as we eat lots of fresh fruit and veg).
Who is the cheapest supermarket?

myothercarisaferrari

I have had little bit of tax returned to me this month in my wages so I will be able to pay one of my debts off (the £186 one):beer::T

myothercarisaferrari

I never got my tax back, still being emergency taxed :-( should be sorted next month though.Paid them though all on time wooo!

Treated myself today though.....two vest tops from primark £1.50 each....the sunbed £3 and my eyebrows for £3.....last of the big spenders hey!

hope everyone is ok xx

crapwithcash82

myothercarisaferrari wrote: »

love MSE. love everything about it - the advice, the debates, the freebies and the icons :money:;):D:j:eek:heehee

I agree!! Good Luck with your Debt Free Journey!

:T:T:T