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Worried Sick

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  • Spongebob_Nopants
    Spongebob_Nopants Posts: 27 Forumite
    Thanks - you too - I hope it's going well so far. :-)
    _pale_ Facing up to debts for first time. Two adorable kids to keep secure. LBM:25/08/09 Debt>£50K
    Progress so far: (1) new job :j ; (2) living within my means for first time EVER :); (3) debt not rising, reducing (slowly)
    Currently working on: (1) Nat West credit card first; (2) planning for credit-free Xmas.
    Humble, grateful, resilient. :)
  • Spongebob_Nopants
    Spongebob_Nopants Posts: 27 Forumite
    Spoken to wife, we are sitting down tomorrow to do budget together..!

    Night all.

    :D
    _pale_ Facing up to debts for first time. Two adorable kids to keep secure. LBM:25/08/09 Debt>£50K
    Progress so far: (1) new job :j ; (2) living within my means for first time EVER :); (3) debt not rising, reducing (slowly)
    Currently working on: (1) Nat West credit card first; (2) planning for credit-free Xmas.
    Humble, grateful, resilient. :)
  • LeeSouthEast
    LeeSouthEast Posts: 3,822 Forumite
    Part of the Furniture Combo Breaker Debt-free and Proud!
    Spongebob_Nopants wrote: »
    Spoken to wife, we are sitting down tomorrow to do budget together..!

    Night all.

    :D

    A brilliant first step! It's all easier from here on. Keep us posted, and any specific questions just let us all know. :)
    Starting Debt: ~£20,000 01/01/2009. DFD: 20/11/2009 :j
    Do something amazing. GIVE BLOOD.
  • Spongebob_Nopants
    Spongebob_Nopants Posts: 27 Forumite
    Went through budget yesterday with wife (actually, from now on I'm going to refer to her as "ex other half" - XOH !)

    So, did budget with XOH - surprise surprise, it came to a much higher monthly outgo than either of us had imagined.

    Going to refine it over next couple of days, plus work on quantifying debts (which I am going to detail on here - gulp!)

    Now thinking about what I can do on the income side of things - looks like I am going to need to shut down my own business and return to working in London....
    _pale_ Facing up to debts for first time. Two adorable kids to keep secure. LBM:25/08/09 Debt>£50K
    Progress so far: (1) new job :j ; (2) living within my means for first time EVER :); (3) debt not rising, reducing (slowly)
    Currently working on: (1) Nat West credit card first; (2) planning for credit-free Xmas.
    Humble, grateful, resilient. :)
  • Spongebob_Nopants
    Spongebob_Nopants Posts: 27 Forumite
    I wouldn't say I've got the budget figures down to a fine art, so there's a degree of inaccuracy still there at the moment....

    ... but it's pretty clear I need to earn more....!

    So, today I applied for 10 jobs! Tomorrow I will apply for more, and I'll keep going 'til I'm successful!

    In the meantime I've also applied for some "temp" work to do alongside my current job - will mean extra hours etc but more CASH!!

    Starting to feel a bit better (thanks everyone!) but still a long way to go. But even the XOH is on-side so hopefully we can turn the corner soon.

    Still feel a bit embarassed about the size of the cc debts and OD - will force myself to put the full gory details on here soon, it's got to be done....!

    ;)
    _pale_ Facing up to debts for first time. Two adorable kids to keep secure. LBM:25/08/09 Debt>£50K
    Progress so far: (1) new job :j ; (2) living within my means for first time EVER :); (3) debt not rising, reducing (slowly)
    Currently working on: (1) Nat West credit card first; (2) planning for credit-free Xmas.
    Humble, grateful, resilient. :)
  • Happytogetdebtfree
    Happytogetdebtfree Posts: 6,798 Forumite
    Well done for sitting down and looking at the figures. Can you cut back on things or is it all a needs must when paid. Don't work yourself too hard with extra hours once the soa is up people can help guide u good luck. Nearly my home time yayyyyy
    I AM A MONEY MAGNET, THEY ARE MAKING MORE MONEY FOR ME AS WE SPEAK:pMIKES MOB, DFW NERD 1071, DFW LHS 132!MIRACLES HAPPEN I'VE SEEN IT WITH MY OWN EYES. LBM 08£77240.69 Current outstanding total £36083.01 Paid so far = £41157.68
  • Spongebob_Nopants
    Spongebob_Nopants Posts: 27 Forumite
    edited 1 September 2009 at 7:17AM
    OK, so here goes - my first crack at this, based on best info I have at the moment..... summary in this post, details of individual elements to follow

    Home £2,073.07
    Insurance £0.00
    Eats, Drinks & Smokes £606.20
    Transport & Travel £558.88
    Debt Repayments £1,050.00
    Savings & Investments £0.00
    Family £3.00
    Fun & Frolics £37.00
    Health & Beauty £9.50
    Clothes £18.33
    Education & Courses £194.85
    Big One Offs £66.67
    Odds & Sods £0.00
    £4,617.49
    _pale_ Facing up to debts for first time. Two adorable kids to keep secure. LBM:25/08/09 Debt>£50K
    Progress so far: (1) new job :j ; (2) living within my means for first time EVER :); (3) debt not rising, reducing (slowly)
    Currently working on: (1) Nat West credit card first; (2) planning for credit-free Xmas.
    Humble, grateful, resilient. :)
  • Spongebob_Nopants
    Spongebob_Nopants Posts: 27 Forumite
    edited 1 September 2009 at 7:22AM
    Mortgage/Rent: £1,172.17
    Buildings & Contents Insurance:£28.15
    Bank Account Fee: £17.00
    Overdraft Cost: £57.11
    Council Tax: £206.00
    Water Rates/Meter: £26.46
    Gas £102.00
    Electricity £147.00
    Oil
    Household Maintenance: £16.67
    Garden Maintenance
    Cleaning Products/Cleaner£138.56
    Home Phone £30.00
    Internet
    TV Licence £11.95
    Mobile Phone £120.00
    _pale_ Facing up to debts for first time. Two adorable kids to keep secure. LBM:25/08/09 Debt>£50K
    Progress so far: (1) new job :j ; (2) living within my means for first time EVER :); (3) debt not rising, reducing (slowly)
    Currently working on: (1) Nat West credit card first; (2) planning for credit-free Xmas.
    Humble, grateful, resilient. :)
  • POSITIVE_AND_FOCUSED
    POSITIVE_AND_FOCUSED Posts: 790 Forumite
    Hi Spongebob

    May I ask what are your incomings to offset all those outgoings? Good luck with everything. Keeping a diary is a fantastic debt busting thing, so keep going. You will get there in the end.
    My debts at LBM (2009)Grand Total £161,983.77.(Incs everything, mtge, cr cards, loans)
    May 2013 £124,080.27= £37,903.50 paid off WOW!!!!! Well done! There is a guardian angel out there! :AI'm visualising success, debt freeness, and happy days!:T
  • Spongebob_Nopants
    Spongebob_Nopants Posts: 27 Forumite
    Hi P&F - thanks for your support! I'm going to write a bit of background (hopefully later today) about what my incomings were, what they are now, and what I need them to be going forward..... the short answer, as at now, is "nowhere near enough"....

    cheers
    _pale_ Facing up to debts for first time. Two adorable kids to keep secure. LBM:25/08/09 Debt>£50K
    Progress so far: (1) new job :j ; (2) living within my means for first time EVER :); (3) debt not rising, reducing (slowly)
    Currently working on: (1) Nat West credit card first; (2) planning for credit-free Xmas.
    Humble, grateful, resilient. :)
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