Hello (lurker decloaking)

angelicmary85

Hi RJ,

Welcome to DFW!

You SOA will get picked to pieces bit the advice you will get will generally be the same from everyone...STOP SPENDING!! haha!

There's a great thread on here that I recommend to everyone (despite having just joined in myself!) called 'a payment a day' and it does exactly what it says on the tin...whether it be 10p or £80, it's about what little (or large) amount you can afford everyday towards paying things off.

You'll get loads of useful advice but if you need to know anything at all just ask...I won't be able to help but there's loads of people on here that will!

Good Luck with your journey, it may be long, exhusting and at times, seem like it's never going to end but you'll get there.

Lula-Hula

Welcome to the mad mad world of DFW rigger_john

Congrats on the lbm :eek: & best wishes for your journey

lula
xx

doodledo_2

Hi RJ and welcome to the wonderful world of DFW this place is a fantastic place for support and advice you have definately come to the right place.

Well done on having your LBM and look forward to reading your journey to being debt free

Good luck :T

Nargleblast

Hello RJ, welcome to the asylum that is the DFW forum. You are in for an exciting rollercoaster ride with a target at the end - to become debt-free. Well done and good luck.

rigger_john

A very very rough SOA, not at all accurate I'm sure just wanted to get something up I could tweek when I have more info

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 1126
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1126

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 525< this will half soon as I will soon have a house mate
Management charge (leasehold property).. 0
Council tax............................. 73.75< This will also reduce
Electricity............................. 65 <eon are killing me! will have to switch
Gas..................................... 0 < Included in electrickery
Oil..................................... 0
Water rates............................. 16
Telephone (land line)................... 25 < includes internet and tv
Mobile phone............................ 0
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 100 < v rough until I have a more complete spending diary
Clothing................................ 0
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 30
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 846.75


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

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Personal Loan..................6000......184.......12.4
Credit Card....................500.......25........16.9
Overdraft......................1700......0.........17.09
Total unsecured debts..........8200......209.......-


Monthly Budget Summary
Total monthly income.................... 1,126
Expenses (including HP & secured debts). 846.75
Available for debt repayments........... 279.25
Monthly UNsecured debt repayments....... 209
Amount left after debt repayments....... 70.25

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -8,200
Net Assets.............................. -8,200

Ninno820

THe most immeadiate solution is to focus on groceries - £100 is a lot to spend on one person every month and you could easily cut this down. I think that you were right - keep a diary and record everything - even the pint of milk you just popped out for. Also try to plan for the forthcoming week what you are planning to eat andtry and cook everything from scrtach - prepaid meals just cost far too much.

I think that with some focus you could eventually cut this down to at least £75 if not more.

Ninno x

worried_jim

John have a look at http://www.payplan.com/ now, they will definitely be able to help you sort this out for free ! If you register online today they will call you tomorrow and within a month everything could be sorted and arranged for you .