My new start to clear my debts.

the_gorgeous_one

I have transferred this thread from another as it may keep me motivated to improve my finances by posting regularly in order I may learn some lessons.
Today I have spent all day trying to make sense of my finances. Tomorrow is payday and we are due to go on holiday however as usual haven't saved any money for it. I phoned up CCCS today and they are going to ring me on Monday morning for some debt counselling. The initial advice was to change bank account and pay only the mortgage and essential utilities. This feels scary and a bit sudden so I'm hoping to get a kick up the jacksie here.
MY statement of affairs are as followed:
INCOMING
My Monthly wage 2000.00
partners wage 1900.00
No benefits.
Total £3900 although this can alter dependant on shifts but isn't usually less.
OUTGOINGS
Mortgage/Rent - £993.97
Council Tax - £107.00
Gas - £55.00
Electric - £30.00 but with EDF so think it will go up suddenly and I'm scared.
TV License - £11.95
Sky £37.50
2 x mobile phone contracts- £65.00, can't get out of them yet.
landline & Internet 32.00
Car Insurance - £90.00
Life Insurance £36.51 this is to cover the mortgage payments in case of death but we are now in arrears and I think have defaulted on payments.

TOTAL: 1458.93
Then come the loans:
Black Horse HP £223.60 total owed 12719.00
Black Horse £317.23 total owed 13718.00
HFC £10.06 total owed 205.00
HFC £19.36 total owed 541.00
Everyday loans 110.87 total owed 2221.00
Littlewoods: 32.99 total owed 180.00 interest free
Tesco 188.48 Final payment for a big !!!! up of insurance but has to be paid this month.
Total £902.59

Overdraft
Halifax 3368.00: Pay 68.00 payday to cover the excess overdraft.
Alliance £68.00 this will have to be paid in full on pay day along with charges
TOTAL £157.28
Credit cards
Barclaycard 1900 I plan to pay £200 but will end up using it by end of month
Capital one 1000 I plan to pay £200 but again it will be used.
Total £400.00

Other miscellaneous payments are as follows:
Union subs 15.80 x 2 31.60
Denplan 15.72
Gym 28.50
Magazine subs 19.75 & 16.00 both are quarterly
Halifax charges for this month £105.00
Total £216.57
Grand total 3135.37
I haven't included food or petrol although both are esseantial and we both work in the community so need petrol daily, my hubby reckons it will be around £500.00 but we will need to monitor it and limit it. Luckily he is off for 1 week and I have 3 weeks off due to holiday and currently unwell.
We have 2 kids at home but they are not earning either, son is a uni student and only gets 1 night bar work a week and daughter has just put a claim in today for job seekers allowance but that weill also go on her own debts. We have a dog and cat also.
Sorry its a long first post. I should have more idea tomorrow when we get paid.:eek:

kadiya

Just wanted to say Hi and Good luck too
Will catch up with your post tomorrow...but just wondered...if you BOTH work in the community and need petrol, then doesn't your employer pay an allowance for your petrol?
Just wondered, because £500 for the two of you seems REALLY high...but then again, I'm not a driver, so just wondered?
Perhaps it's worth asking if there is a scheme available, or an allowance that can be granted if you submit reciepts?
Anyway, see you tomorrow

shaun40400

well done on the posting :j
you came to the right place for kick up the a**!!!:D
lots of bit you can cut back on their!! what will become luxuries hint hint!! magazines
....gas and esb can be trimed,,so can net/landline...sky cut down get rid ..of for 2 yrs everything will be repeated anyway!!
give the kids a kick as well ,,,,baby sitting,car washing ,,grass cutting will cover £20/30 a week,(a local kid does mine 12yrs charges €6 front and back has over 100 customers on our estate does 10/15 houses every sat!!! add it up yourself)

their are much better people than me to guide you who will be along ,,,probably tomorrow ,,,,, so,,,,,,
get your tin hat and flak jacket on,,,,cus you got incomming!!:rolleyes:

welcome to the baaaaarrrrrrrking area of mse!!!

the_gorgeous_one

I often see healthy eating or losing weight in the same category as sorting finances. I sometimes feel very motivated and can see the end result more clearer, either as my new slimmer self or in control of my finances and with some money behind me saved for nice things, then at other times I think oh whatever, that doughnut wont hurt or spending this money now wont hurt I deserve it you only live once, etc etc. Now I have stopped smoking and I have lost 2stone 1lb. I think I have it within me to sort out my finances. i am learning more and more about my strengths and weaknesses and maybe keeping this online diary and hopefully getting support will help me learn what I need to learn.

the_gorgeous_one

Just seen my responses, so thanks for those. I also think 500.00 is too much for petrol. Hubby did the guesswork and he does get travel allowance but silly man forgot to put his travel sheet in for last few months claiming he is too busy. He has just started a new job and it is very busy so I will cut him a bit of slack for now. I think he's in shock. I will also get the kids up and sorted with finding paid work. Son has been and chipped someones computer but that has gone to his own finances.

the_gorgeous_one

Payday has come and was better than expected.
My wage 2474.43, hubbys 1912.61 grand total is 4387.04
So I have paid the following:
Alliance and Leicester overdraft 89.14.
Halifax 70.00
Tescos 188.48 closed account
Scottish Power 134.33 closed account
3 mobile 21.78 closed account
Barclaycard 250.00
Littlewoods 32.99
Capital One 200.00
Moorcroft 70.00 1 more payment next month.
total 1056.72

Then I have transferred 2400. into Halifax for remainder of bills

Grand total left is 931.00 This will cover food, petrol etc. Payday is 5 weeks away now.
My plan is to keep a record of all spends via this diary. I
I feel if we are careful we can still go on holiday in the tent. We plan to go to Anglesey rather than the long trip to Cornwall we originally wanted to do but it will be by the sea and I am now off to check the camping thread to get more tips.
I feel I can breathe a bit better and thanks for any advice in advance.
I feel able to go on a cheap camping holiday so will

Lemon_Tree

sounds like you're doing right keeping a check of what you're really spending on petrol and groceries, i hate the fact petrol as gone up again so high makes a real difference to my budget.

the_gorgeous_one

Just spent £8.69 at Lidl for barbecue food and a throwaway barbie as its sunny and it is payday so I figured it would be a nice treat. its all I've spent though. Thats for 5 of us and there might be some left overs for tomorrow dinner.

the_gorgeous_one

£18.00 last night joint for a night out with friends for me and hubby.
£15.60 for ww recipe book and loads of treats. ww meeting free as 1 1/2 lb from goal wooppee

the_gorgeous_one

Just checked accounts £50.00 in Alliance and Leicester account, none in hubbys.
I have access to 100.00 on my credit card and 50.00 on hubbys.
There is also 100.00 in Halifax account that hubby doesn't know about as he will spend spend spend if he knows. He's not a bad man just doesn't think about tomorrow.
Next month should be better if we stay within these limits. I know we shouldn't use credit card but will need to for petrol. Wont get cash out of them though. Hubby is getting the hang of it all and hasn't been out since before our holiday. We spent £60.00 for campsite and had 1 meal out at the grand total of 22.45. on the downside it wasn't very good. Lesson learnt, we had some very good meals by the tent on the barbie, food and drink from Lidl or Morrisons woopsies. We spent our days on the beach and had crisp butties and home made biccies. Everyone enjoyed and the weather was gorgeous. We did have to buy sun cream but got bogofs for 4.15 which was good. We even got a free night at the campsite as I helped the owners out with a little problem and had an adventure into the bargain.

claire0788

Is it possible for you to cut one of the credit cards up so you cant use it ? Then you can use the other one for emergency back up.

You and the OH just need to talk about how to stick to a budget so that you both know how to get debt free. You both have great salaries so I think youll be fine specially if you cut back a little.

Could you transfer any balance to a 0% card ?