But I like pretty things!!!

iamnotcrazyana

Hello Everyone

I've been wanting to do this for a while, so here goes...

*deep breath*

Current SOA (for me and my DH)

Monthly income after tax - 1188
DH's monthly income after tax - 0 (at the mo - hopefully not forever!)

Outgoings
Mortgage - 620 (variable rate, Northern Rock 'together' mortgage, with a secured mortgage and unsecured loan. We are only paying the interest on the secured mortgage part of the loan and we pay interest and repayments on the unsecured part. Can't move this anywhere either :mad:)

Council tax - 101
Electricity & Gas - 85
Water - 28
Telephone - 13
Mobile phones - 55
TV Licence - 12
Sky - 46
Internet - 21
Groceries etc - 200 (at the moment my dad takes me shopping so I'm not spending this much each month, maybe only 50)
Petrol - 40
Car Stuff - 50
Pet insurance/vet bills/food - 21
Buildings & Contents insurance - 23
Life insurance - 29
Ciggies - 200
Total monthly expenses - 924

Unsecured Debts

DP Card - £535 o/s - 29.9% APR
Next - £351 o/s - 26.49% APR
Halifax CC - £5288 o/s - 18.95% APR
CapitalOne CC - £146 o/s - 30.34% APR
MBNA CC - £1965 o/s - 30.35% APR
NatWest CC - £3323 o/s - 15.75% APR

NatWest Loan - borrowed £25,000 in November 2007. Made 21 out of 84 payments - 9.1% APR - pay £513.16 per month

Total unsecured debts - £11,428 (not including the loan!) :eek::eek:

I will be contacting CCCS tomorrow (unless they are closed on Saturdays)

Any advice would be received with immense thanks.

Fire_Fox

Welcome to diaryland! My response will seem a little harsh, but as far as I can see you have far more going out than in at the moment so you will need to be strict.

I think the first two things to hit are the biggest outgoings - food and cigarettes. For just two of you the food can reduce to £150 if you read around the Old Style board which will save you £600 a year. The basics are to take an honest look at what you throw away and how that could be used up, a Storecupboard Challenge, padding out meat with extra seasonal veg, more cooking from scratch.

Cigarettes ... well this is a potential £2400 a year saving all by itself! There is so much support on the NHS now - nicotine replacement products, tablets stop you craving, counselling to help you change the habits that surround the ritual of smoking. The more help you get the more successful you will be in quitting! :T

Your telecoms spending adds up to £150 a month or£1750 a year! Could you drop the Sky down to a lower package whilst out of football season or cancel it until you get back on your feet? For films there is a code on these boards for three months free DVD rental with Lovefilm. :money: Do you honestly need three phones for two people? You should be able to get a cheaper internet package, the best deal is £5 a month.

Bear in mind that every £100 you spend instead of putting towards your debts is costing you £130 over a year due to the highest interest rate on your cards of 30%. So the fags are actually costing you £3200 and telecoms £2300 a year. :eek: Have you tried the Demotivator tool and the Snowball calculator yet?

The last to look at would be your energy bills. The cost could be cut by half by switching supplier (use a cashback site for an easy £70 or £80) and by being much more sensible with your heating and hot water. Our electricity bills are £34 a month, no gas in property. :cool:

Hope that helps!