my soa

badger555

the_cat wrote: »

OK, I'm going to be cruel to be kind here (sorry!)

It doesn't matter if you have a deal you are happy with for the mobile or how hard you might find lowering the entertainment budget. You can't afford it and it has to go, like it or not

It is this sort of attitude which got you into this mess, and only changing your mindset will get you out of it

fair enough but with regards to the mobile,I would be pretty screwed if I couldn't keep in touch with customers etc,lowering the tariff would probably end up meaning that i ended up pay £40+ a month if i was to go over the minutes allowed

badger555

TotallyBroke wrote: »

If the car is a company car and the costs associated with it are business then the business should be paying this. These costs should be coming out of business accounts before you get paid.
It is better for you if you keep business and personal accounts seperate.

Do not consolidate as you will end up having a loan and then running the debts back up.
As for going out, try going out and meeting friends an hour later than normal, so say go at 9pm instead of 8. Don't get into rounds just buy your own. Make sure you eat before you go then you won't want the dreaded kebab on the way home. Don't go out every night of the weekend. Do Friday one week Saturday the next. Stick to late night pubs rather than paying to get into clubs.
Or try and get some bar experience and work the clubs. You get the same buzz of the music, money in your pocket and the wo/men flirting.

I would say i only go out to pubs once a week,one thing i know i shouldnt be doing is buying drinks from a pub in my debt situation.Another 2 or 3 nights a week a few of us meet up at friends houses which seems to be an increasing trend since the smoking ban(i dont smoke by the way)

the_cat

Sorry, I thought the mobile was for personal use. As others have said, you really need to split business expenses away from personal.

badger555

the_cat wrote: »

Sorry, I thought the mobile was for personal use. As others have said, you really need to split business expenses away from personal.

no worries i appreciate your input,will try and redo the soa in full with the apr's etc(if i can find them)

Tixy

APRs should be on your latest statements for credit cards & o/d (check if its monthly or annual APR - if monthly multiply by 12.5 for an estimate of annual).

For loans check your original paperwork or the annual statement they now send.

TotallyBroke

Again if the phone is a business expense then it needs to go through your business accounts. Start paying all these costs through your business accounts and then pay yourself a wage.

I became a single Mum and was left with a lot of debt. I now go out once a month to the pub if that. I take out £30 with me and that includes the taxi fare. I have so much fun, because I'm not out every week there is so much catching up to do with everyone. Since then (my signature is not up to date) I have cleared 4 debts totalling nearly £2k and have nearly £4k saved in 7 months. I did this by cutting back in areas like going out, rolling my own tobacco, meal planning etc.
You are unlucky in a way that you do not have too much to cut back on but are lucky in that the big monthly expenses you have can be paid for by the business.

Have you looked at your credit reports? Have a look into possibly getting a 0% balance transfer card. Transfer an old debt onto it and pay the minimum each month. Whack any spare cash onto the highest costing interest debt you then have and pay that off.
Take a look at https://www.whatsthecost.com/snowballing and play around with figures. It will give you an idea of how giving up 2 weekends a month could drastically reduce the amount the debts cost you and the length of time it takes to clear them.