Like many others

lossed

Thrifty_Pixie wrote: »

Well the good news is that, lost or not, you found your way here
Here's my 2p's worth, based on your rough draft:

---

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 0
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 900
Partners monthly income after tax....... 750 --- Perhaps you could look for part-time jobs to supplement your wages? Bar work, etc?
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1650

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 340 (£40 of this is off arrears)
Management charge (leasehold property).. 0
Council tax............................. 129 (£49 of this is off arrears)
Electricity............................. 40
Gas..................................... 60
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 58 (includes internet)
Mobile phone............................ 15 (mine 300mins unlimtd texts 30 day contract) --- maybe change to PAYG
TV Licence.............................. 11
Satellite/Cable TV...................... 39 ( we do not go out, only entertainment) --- this is all very well, but you cannot afford it. Perhaps change to Freeview? They have oodles of channels. Either that or look into a cheaper package for landline/internet/satellite all-in-one
Internet Services....................... 0
Groceries etc. ......................... 250 ( I'l work on this can be less) --- you said it!
Clothing................................ 0
Petrol/diesel........................... 80
Road tax................................ 192 --- assuming this is over 12 months, so £16 per month? Unless you're including maintenance/MOT in this as you have it at £0 below. But that still sounds a little high.
Car Insurance........................... 28 ( runs out in oct wil look around)
Car maintenance (including MOT)......... 0 --- as above
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 5
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 8
Life assurance ......................... 33 --- i'm wondering why you have this if you have no mortgage? But i could be wrong
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0 --- do you cut your own hair? If not this needs changing.
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0 --- you should have something here, even if only minimal
internet security....................... 6 cancelled today will look for free one --- good
weight program.......................... 7 cancelled today --- again, good!
Total monthly expenses.................. 1301


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 2000
Other assets............................ 0
Total Assets............................ 0

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly.. .APR
Welcome finance................2500......200.......0
Provident......................700.......80....... .0
Friend.........................600.......40....... .0
Total unsecured debts..........3800......320.......-


Monthly Budget Summary
Total monthly income.................... 1,650
Expenses (including HP & secured debts). 1,301
Available for debt repayments........... 349
Monthly UNsecured debt repayments....... 320
Amount left after debt repayments....... 29

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -3,800
Net Assets.............................. -3,800

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All in all I would say that you desperately need to start a spending diary to see where ALL your money's going - this will also help motivate you to spend less (believe me!) I would also say that you need to increase your income somehow

Good luck!

I did make a mistake with my car tax, that was for a year, I do have my hair cut but my sister is a hairdresser, life insurance, when we die we need to be buried, yep payg is a thought, £750 is my husbands pay and he works all diferent hrs, £900 is mine but I work pattern is set, I have a application form here to fill in for a part time job. Sky, I will cancell if i have to but I realy dont want to too, we dont drink, we dont smoke, we dont go out, so at £10 a week I feel this is justified for entertainment. Emergency Fund, yes thats a must to start, reason for none is my overspending, hence i'm on this site.

Thankyou for your input much apreciated

lossed

As far as i am aware we are not entitled to any benifits. We have no dependants and You have to earn less than £18,000 a year for working tax credit but i may be wrong about that, ours comes to just over £20,000

thankyou

QueenBeruthiel

A satellite/phone/broadband bundle should be achievable for about £50 pm. Possibly with cashback too. Check out Quidco and the comparison sites.

beanielou

Just wanted to say a big well done on realising there is a problem & trying to do something about it

QueenBeruthiel

Re your car insurance:

http://www.moneysavingexpert.com/news/insurance/2009/10/i-bought-car-insurance-for-96p?utm_source=mainsite&utm_medium=sidebar&utm_campaign=box

lossed

Thrifty_Pixie wrote: »

Well the good news is that, lost or not, you found your way here
Here's my 2p's worth, based on your rough draft:

---

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 0
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 900
Partners monthly income after tax....... 750 --- Perhaps you could look for part-time jobs to supplement your wages? Bar work, etc?

---

this is my DH pay and he works all different hours

---

I work full time but set hrs, i do have an application form here for a part time job
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1650

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 340 (£40 of this is off arrears)
Management charge (leasehold property).. 0
Council tax............................. 129 (£49 of this is off arrears)
Electricity............................. 40
Gas..................................... 60
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 58 (includes internet)
Mobile phone............................ 15 (mine 300mins unlimtd texts 30 day contract) --- maybe change to PAYG

---

yes looking into that
TV Licence.............................. 11
Satellite/Cable TV...................... 39 ( we do not go out, only entertainment) --- this is all very well, but you cannot afford it. Perhaps change to Freeview? They have oodles of channels. Either that or look into a cheaper package for landline/internet/satellite all-in-one

---

we do not drink, smoke or go out, so at £10 a week for both of us, for entertainment I feel its justified
Internet Services....................... 0
Groceries etc. ......................... 250 ( I'l work on this can be less) --- you said it!
Clothing................................ 0
Petrol/diesel........................... 80
Road tax................................ 192 --- assuming this is over 12 months, so £16 per month? Unless you're including maintenance/MOT in this as you have it at £0 below. But that still sounds a little high.

---

my mistake, yes it is 16 a month
Car Insurance........................... 28 ( runs out in oct wil look around)
Car maintenance (including MOT)......... 0 --- as above
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 5
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 8
Life assurance ......................... 33 --- i'm wondering why you have this if you have no mortgage? But i could be wrong

---

it should below its life insurance
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0 --- do you cut your own hair? If not this needs changing.

---

sister is a hairdresser
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0 --- you should have something here, even if only minimal

---

i totaly agree,
internet security....................... 6 cancelled today will look for free one --- good
weight program.......................... 7 cancelled today --- again, good!
Total monthly expenses.................. 1301


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 2000
Other assets............................ 0
Total Assets............................ 0

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly.. .APR
Welcome finance................2500......200.......0
Provident......................700.......80....... .0
Friend.........................600.......40....... .0
Total unsecured debts..........3800......320.......-


Monthly Budget Summary
Total monthly income.................... 1,650
Expenses (including HP & secured debts). 1,301
Available for debt repayments........... 349
Monthly UNsecured debt repayments....... 320
Amount left after debt repayments....... 29

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -3,800
Net Assets.............................. -3,800

---

All in all I would say that you desperately need to start a spending diary to see where ALL your money's going - this will also help motivate you to spend less (believe me!) I would also say that you need to increase your income somehow

Good luck!

Thankyou for you input, ive put some comments nexts to yours, to explain a little more

lossed

Update on yesterday, I have more money in my purse than yesterday at this time, its not much but its more. DH is going to pay petrol till payday out of his £20 and I'm here to survive another day. Todays task......... I do online banking with loyds tsb and have an empty Halifax account, so I'm going to work on them and set up some standing orders to transfer money and keep DD money seperate.

BeautyandtheBeast_3

jUST wanted to say - Internet securty need not cost a penny - Sig up with AVG Its free and IMO much better than McAfee xxx

lossed

BeautyandtheBeast wrote: »

jUST wanted to say - Internet securty need not cost a penny - Sig up with AVG Its free and IMO much better than McAfee xxx

Thankyou for that, i will do it as soon as paid one runs out

lossed

ok, done online banking. Set up a bank transfer payment for £700 a month, this covers, rent, food, petrol, pocket money. provident payment. Everything else is DD, So with me not dipping into it, I should have a little surples, come mid Nov :T

When my rent arrears (£240) are cleared I will set up a standing order.Dont want to do it now incase they take whole amount of arrears and rent :eek:. They only do standing order.

Now going to fill par time job application

thankyou