Clawing my way out of the debt pit

mumto2monkeys_2

Household Information
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 2073
Partners monthly income after tax....... 1633
Benefits................................ 177 This will drop by £45 in December
Other income............................ 200
Total monthly income.................... 4083

Monthly Expense Details[/b]
Mortgage................................ 1035
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 113
Electricity............................. 42 Cutting back
Gas..................................... 68 Shocking - had insulation and new boiler fitted early this year, so hopefully will be going down. (And yes, it was done on credit!)
Oil..................................... 0
Water rates............................. 62 This is postcode amount; have enquired about a meter
Telephone (land line)................... 53 Don't get me started - BT sent an engineer out to tell us nothing was wrong with the line and added £100 to our bill, so this should drop this month. It had better!!
Mobile phone............................ 42.1 This includes £32 for husband's. Two more months and that will go - he's cancelled it.
TV Licence.............................. 12.01
Satellite/Cable TV...................... 0
Internet Services....................... 48.87 Before people fall off their chairs in horror this is £25.40 for broadband - husband will not compromise over this, it is his lifeblood, and £24.47 for his netbook - contract for another 18 months. He has sacrificed the mobile in return. This was all taken out pre LBM.
Groceries etc. ......................... 250 This is what I hope to spend this month; managed just over £300 for a 5 week month last month. Our old spend was between £600-£800 a month. :eek:
Clothing................................ 0
Petrol/diesel........................... 40
Road tax................................ 0
Car Insurance........................... 31.32 Will be shopping around; have signed up to do mystery shopper thing to try and get some cash whilst looking for cheaper.
Car maintenance (including MOT)......... 50
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 195.75 Already get vouchers.
Other child related expenses............ 298.66 Husband's CSA payment.
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 9.64
Buildings insurance..................... 0
Contents insurance...................... 16.28
Life assurance ......................... 18.95
Other insurance......................... 8.95 price of husband's bank account.
Presents (birthday, christmas etc)...... 50 We save £50 each (mine under car maintainence) to cover everything that might crop up.
Haircuts................................ 0 Out of the £100 fund.
Entertainment........................... 0 We have no life.
Holiday................................. 0
Emergency fund.......................... 18
Total monthly expenses.................. 2463.53 Have missed off daughter's singing lessons at £39 and £20 a week each to cover other expenses. I'm saving for Christams and son's birthday with mine. This is £216 missed off this.


Assets
Cash.................................... 0
House value (Gross)..................... 162000 Look at mortgage. Scary. Payment break for 6 months = very, very foolish.
Shares and bonds........................ 0
Car(s).................................. 3000
Other assets............................ 0
Total Assets............................ 165000


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 171000...(1035).....5
Total secured & HP debts...... 171000....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Tesco Loan.....................17500.....271.7.....7.9
GE Loan........................3800......141.2.....18 Central Heating. The loan was not explained properly and I stupidly signed for it. This is being overpaid on the maximum already.
Virgin Card....................7300......25........0 Trying to clear this first as don't fancy my chances getting it put on another card before June when 0% runs out.
Lloyds Loan....................8372.41...144.9.....8.9
Student Loan 2.................102.83....17.11.....-0.4 The best interest rate EVER on a loan!!! :T
Student Loan 1.................2443.17...139.......-0.4
HSBC Card......................930.......25........0
Sainsbury's Card...............3600......80........6.9
Total unsecured debts..........44048.41..843.91....-


Monthly Budget Summary
Total monthly income.................... 4,083
Expenses (including HP & secured debts). 2,463.53
Available for debt repayments........... 1,619.47
Monthly UNsecured debt repayments....... 843.9
Amount left after debt repayments....... 775.56 (though I've missed off that £216)

Personal Balance Sheet Summary
Total assets (things you own)........... 165,000
Total HP & Secured debt................. -171,000
Total Unsecured debt.................... -44,048.41
Net Assets.............................. -50,048.41 Yuk. I do have a family and friends that I love though.

So, there it is. Be kind. I do feel like such an idiot posting this (for being so stupid with money in the past), and I'd really rather not, but I've read other people's, so fair is fair.

missymoo81

no don't feel silly hun, from the looks of it you are doing so very well already cutting things down and getting rid of things you don't need.

It is scary when you first write everything down for all at MSE to see, I feel rather sick the day I did mine eventhough my debt to some people isn't that much. It was just admiting to it, and knowing it had gone on for so long.

But you've taken such a big step in the right direction you should be proud.

keep smiling hun and I shall be reading with interest.

Missy
x

mumto2monkeys_2

Thanks. I think the scary thought is if people I know knew this was my SOA. I suppose when you've got things here and there and don't pay attention to any of it, especially if you can make the payments, it's easy to lose track of what you owe. It's also easy to keep adding more, especially when the banks keep sending you offers for loans, cards, etc.

People think I'm pretty organised and efficient. If only they knew! :eek:

Well, a new page was turned a month ago and so far so good.

missymoo81

that's why it's good posting on here where no one knows you and will judge.

And you really have made a massive step in the right direction by posting your soa.

so definitely so far so good.

mumto2monkeys_2

Well, baby boy is modelling Lidl nappies for the first time today. The pressure is on to decide whether they can replace pampers. We are nappy snobs in this house, but I have heard very good things about the Lidl, so I have high hopes! One thing that certainly made nappies cheaper last month was doubling up my Tesco vouchers so £10 became £20. I bought two carry packs on offer and used another voucher to knock a further £2 off. Essentially costing me nothing. In fact, that day I got a £28 shop for £3. I've never felt so proud of my own resourcefulness!:D

(Voucher juggling from the woman who happily spent a hundred quid in Tesco, decided that she didn't fancy any of it for tea and ordered takeaway instead, then a week later threw most of it in the bin. I am feeling rather ashamed of my past behaviour.)

Anyway, this week I'm trying to make all of my baby food from scratch. I have a tendency to buy in a couple of jars for quick lunches, but these can be quite expensive. I'm going to make him a pasta/bean/sweet potato combo that I'm sure he'll love. At the end of the day, the kid happily gnaws on wood and feet, so I'm sure my cooking won't be too much of a problem for him.

I've been doing my onepoll surveys and have made the princely sum of £5.40 to date. £34.50 to go until I can cash in! It's a long haul to the top...

All I'm hoping is that no hidden expenses crop up and nothing breaks down. If we can get to Christmas with no crisis cropping up, I might just manage it without breaking out the plastic. I think this is the longest I've ever gone without using the credit card. Five weeks. Capital One won't know what's hit them.

turfy6

Just wanted to say welcome and well done on your huge efforts so far. They are a lovely bunch on here and keep me company when the going gets tough. Good luck:T

epsilondraconis

Well done with posting. Perhaps the following link would be of interest.

http://forums.moneysavingexpert.com/showthread.html?t=1487085&highlight=littlewoods+bingo+minver

P.S. I've made several hundred pounds over the last 18months-2years without risking any of my own money.

Keep posting...

PandaPaws_3

Hiya mum2two,
Your diary looks great so far, you really shouldn't worry about being judged, after all, most of us here are in the same boat and we all got there in pretty much the same way!
Good luck! :beer:

mumto2monkeys_2

Thank you for all of the replies. I'm certainly interested in the scratchcard link, but as I've been working for the past few hours at home, I feel like my brain has melted so won't be attempting it now. This one is going to give me something to do, that doesn't involve money, at the weekend!

So, the Lidl nappies seem to be surviving on a very wiggly little boy's bottom. I am very pleased, as they are significantly cheaper than pampers. Pre-teen daughter is chugging her way through foreign biscuits and orange juice without complaint. It's all good.

I feel like I've made so many DFW changes at the outset, that it's difficult to think of other things I could do (with the exception of the scratchcards:D). I do need to list some more e-bay and amazon stuff as part of the great money making/decluttering scheme. Baby boy needs his own bedroom; the spare is currently buried under a heap of old maternity clothes and books. I must force myself to photograph it all - not as evidence for the monstrous state we exist in at my house, but in order to try and flog it.

It doesn't help that I have a hubby who argues that he feels psychological attachment to about a tonne and a half of junk. And it's really random stuff - not photographs or old love letters, but bits of computers and comics that are not worth anything (believe me, I've looked!).

Onwards I trudge, hoping to stumble over a winning lottery ticket as I go... not that I'd waste a pound entering. How un-DFW .

mumto2monkeys_2

Before anyone is :eek: at my mention of pre-teen's seemingly frivolous food in the face of the budget, I thought I should clarify that orange juice and biscuits are for her packed lunch. At home it's all made from scratch. We're doing it Old Style. I am now going to polish my domestic godess halo to a gleam with a dash of vinegar in water... :A

(And hope readers have forgotten about the spare room like a bomb-site reference. And then be pleased that you can't see the piles of ironing springing up around the living room.)