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An introduction and the start of turning things around...
Rufty_Tufty_Biker
Posts: 1 Newbie
Hi everyone
I've been lurking around here for a while now making futile attempts to save money and deal with my finances. The penny has finally dropped (no pun intended!) with me that I need to take the bull by the horns so to speak and get things sorted once and for all.
I've bimbled through life for years with a very cavalier attitude towards money and spending (which I'm finding a hard habit to break) and I'm ashamed to say that since probably 1996 I've never actually known what I've had in my bank account and what I've actually spent.
As for how I got into all of this mess (in the sense that my assets have gone from around £60-70k to about £2k) I'll be honest and accept that its my fault generally that things have ended up this way. Looking back at things, spending nine months trying to get back into work after being made redundant in 1999 followed by my fiance and I seperating in 2001 were the catalysts for things getting out of hand but I rather foolishly didn't take action then to turn things around... champagne lifestyle and a brown ale income is what things amount to I guess!
As requested, I've posted my SOA below as the starting point:
Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 0
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1572.82
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1572.82
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 550
Management charge (leasehold property).. 0
Council tax............................. 127
Electricity............................. 59
Gas..................................... 59
Oil..................................... 0
Water rates............................. 31.2
Telephone (land line)................... 10
Mobile phone............................ 35
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 25
Groceries etc. ......................... 194.85
Clothing................................ 16.67
Petrol/diesel........................... 144
Road tax................................ 17.92
Car Insurance........................... 24.17
Car maintenance (including MOT)......... 33.33
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 4.5
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Gym Membership (on hold)................ 5
Total monthly expenses.................. 1336.64
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 3000
Other assets............................ 1000
Total Assets............................ 4000
No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Overdraft......................1800......0.........17.45
Total unsecured debts..........1800......0.........-
Monthly Budget Summary
Total monthly income.................... 1,572.82
Expenses (including HP & secured debts). 1,336.64
Available for debt repayments........... 236.18
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 236.18
Personal Balance Sheet Summary
Total assets (things you own)........... 4,000
Total HP & Secured debt................. -0
Total Unsecured debt.................... -1,800
Net Assets.............................. 2,200
Created using the SOA calculator
Reproduced on Moneysavingexpert with permission, using Firefox browser.
Cheers all
Jon
I've been lurking around here for a while now making futile attempts to save money and deal with my finances. The penny has finally dropped (no pun intended!) with me that I need to take the bull by the horns so to speak and get things sorted once and for all.
I've bimbled through life for years with a very cavalier attitude towards money and spending (which I'm finding a hard habit to break) and I'm ashamed to say that since probably 1996 I've never actually known what I've had in my bank account and what I've actually spent.
As for how I got into all of this mess (in the sense that my assets have gone from around £60-70k to about £2k) I'll be honest and accept that its my fault generally that things have ended up this way. Looking back at things, spending nine months trying to get back into work after being made redundant in 1999 followed by my fiance and I seperating in 2001 were the catalysts for things getting out of hand but I rather foolishly didn't take action then to turn things around... champagne lifestyle and a brown ale income is what things amount to I guess!
As requested, I've posted my SOA below as the starting point:
Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 0
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1572.82
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1572.82
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 550
Management charge (leasehold property).. 0
Council tax............................. 127
Electricity............................. 59
Gas..................................... 59
Oil..................................... 0
Water rates............................. 31.2
Telephone (land line)................... 10
Mobile phone............................ 35
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 25
Groceries etc. ......................... 194.85
Clothing................................ 16.67
Petrol/diesel........................... 144
Road tax................................ 17.92
Car Insurance........................... 24.17
Car maintenance (including MOT)......... 33.33
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 4.5
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Gym Membership (on hold)................ 5
Total monthly expenses.................. 1336.64
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 3000
Other assets............................ 1000
Total Assets............................ 4000
No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Overdraft......................1800......0.........17.45
Total unsecured debts..........1800......0.........-
Monthly Budget Summary
Total monthly income.................... 1,572.82
Expenses (including HP & secured debts). 1,336.64
Available for debt repayments........... 236.18
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 236.18
Personal Balance Sheet Summary
Total assets (things you own)........... 4,000
Total HP & Secured debt................. -0
Total Unsecured debt.................... -1,800
Net Assets.............................. 2,200
Created using the SOA calculator
Reproduced on Moneysavingexpert with permission, using Firefox browser.
Cheers all
Jon
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