Hit and Miss

Duke_of_Northumberland

Well good news thanks to mse is that Ive now moved home insurance and have managed to save £110 per year!! The bad news is I'm in a whole world of debit pain and i'm looking for ways out!! Just tried the card tart and have been refused twice!!! If anyone has any ideas please let me know as I really don't want to go to the wall.

My life.........

The good news
Salary £22000 £1384

Bad news booo hissss

Virgin £4600 interest 15.5%!!! Monthly payments £110
Bnk of Scotland £1658 1 mnth int free Monthly payments £40
Lloydds £1584 1 month in free Monthly payments £40
Barclays £5900 6.5% Monthly payments £120

Loan £12000 9% 4 years to go at £265 per month

An impressive £25000!!! £585 per month


Expenses!!!
Home Insurance £19
Petrol £150
Council Tax £120
Internet £17
moblile £20
TV £20
Phone £40
Gas £25
Elec £25
Water £26
Car Insu £30
Food £250
Activites £10
Takeaways £50
Cloths £50

rent £485

1318 + 585 doesn't go into 1384!!!!!
Im on the last of my savings as I'm over drwan every month and I really really need some help as give or take 2-3 months the savings will be gone

£1700 Savings to my name


on the plus side my salary mybe increase to 27K but that will not be until June even with £1700 ish I will still be a couple hundred short.

The way I see it and correct me if I'm wrong

1. Move Job Salary expt £30K+ may do in a year or two but have no desire just yet plus who is to say I would get this post just like that!!
2. Hit the wall - big issues with that!!
3. IVA - lesser than the wall but 6 years before good credit I would like to but a house before I can't afford one!!
4. Call credit cards and reduce payment
5. Spend less any ideas welcome!!
6. Saturday job or something outside work would have to be worth while and very flexible.


Now on hand and knees hoping for some help!

lynzpower

Hi there and welcome- thanks for the list- we are able to do our best to help you!!

The first thing Im noticing is that £50 a month on takeaways there I can spy?
Surely not essential ?

EDIT and 250 pcm on food!! Crikey!!! You can slash this right back. We are reckoning we can spend 80pcm on food for 2, which is pretty extreme we admit, but Clever shopping and clever cooking are the only skills you need to do it. And the OS board will help you get the most out of everything you buy!

lynzpower

Also £50 a month on clothes? Do you REALLY spend that or have you just used that figure as a bench mark type thing. If you do spend that on clothes per month, no offence meant here, but it doesnt look like you can afford it....

toontastic

Also when you do make most of your calls, can you not get a deal for free weekend calls or free calls to the people you ring most so making a saving on the £40 ?

Duke_of_Northumberland

Well £50 on the clothes could go and maybe cut take aways down to 2 a month £25. Have to have some life as I don't get out much due to lack of finances!! Still got a very big hill to climb!!

moongarden

hi, how many people are you feeding for £250?

i used to spend that and i now spend £100 a month just for me - i just had to bite the bullet and change my incorrect thinking that ready meals save time. i eat much more healthily now - plenty of fresh fruit and veg etc. there are plenty of meal ideas on the old style thrift board too.

also it is usual to include clothes in a budget for a debt management plan so that you can afford clothes for work however you probably do not need to buy clothes for the next 2 months at least so you could cut back there.

i have also moved house so gone from paying 350 for a one bed flat to sharing with a friend and paying 270 and halved the bills.

do you have a spare room? could you share with a friend?

also when i add up your figures on the debt repayments section i make it £575 not £585 so there is an extra tenner.

maybe you could change your car for one which doesn't use £150 petrol per month and costs less to insure. i'm currently trying to hand back a finance car at the moment and buy an older car.

Duke_of_Northumberland

Yes better phone will have a look later so whats around Ive heard to post office is good so I'll check it out.

skintchick

And I spend about £50 a month on food, NEVER have takeaways, go out once a month and spend max £30.

It's about choices, and as long as you justify spending money you't got by saying 'I have to have some life' then you will have debt.

Duke_of_Northumberland

moongarden wrote:

hi, how many people are you feeding for £250?

i used to spend that and i now spend £100 a month just for me - i just had to bite the bullet and change my incorrect thinking that ready meals save time. i eat much more healthily now - plenty of fresh fruit and veg etc. there are plenty of meal ideas on the old style thrift board too.

also it is usual to include clothes in a budget for a debt management plan so that you can afford clothes for work however you probably do not need to buy clothes for the next 2 months at least so you could cut back there.

i have also moved house so gone from paying 350 for a one bed flat to sharing with a friend and paying 270 and halved the bills.

do you have a spare room? could you share with a friend?

also when i add up your figures on the debt repayments section i make it £575 not £585 so there is an extra tenner.

maybe you could change your car for one which doesn't use £150 petrol per month and costs less to insure. i'm currently trying to hand back a finance car at the moment and buy an older car.

hmm Thanks Moongarden big problem with the car its old school!! golf MK1 gti. I don't think I could give it away let alone ask someone to pay for it
but I do travel 50 miles round trip as I have to be close to my mam who is sick. As for the house I'm always on the look out for something cheaper and moved from a place £600 p/m to £485 I don't think I'll get much cheaper.

toontastic

Duke the problem is you might have to else you might not be given a choice about it.

tyllwyd

If you have £1700 in savings, couldn't you use that to get rid of some of your debt straightaway?