my soa what do you think ?

T.L.C

incomings
1200 a month wadges 300 a week max can varry
100 a month child benefit

4800.00 debt
3800.00 cc 15% apr £90 a month min payment
1000.00 overdraft £7 a month charge

outgoings
100.00 a month council tax
90.00 a month visa
70.00 rent a week
7.00 gas meter a week
7.00 elec meter a week
40.00 shopping a week
10.00 4 mobiles on paygo a month only if urgently needed if not none bought
20.00 on days out with kids we take pack lunch

every thing saved at the end of the week goes on visa

have i done this right ? could you tell me if you see any more savings
or things ive missed

Penny-Pincher!!

Any:

Car Costs?
Household Inurances?
Life Insurances?
Home Phone and Internet?
TV Liscence and Sky?
Water?

PP
xx

T.L.C

forgot to add
40.00 for petrol for work
30.00 month bt phone
15.00 internet with tesco

looneyleo

Well done TLC for putting your SOA on the site. You've done really well so far reducing the debt by half or so. I'm only a newbie myself so I'm sure there will be lots of experts on their way to help you with specifics.

Would it be possible to reduce your interest rate on the credit card, balance transfering to another provider as recommended by MSE? See Credit Card section of site.

£10.00 a month on PAYGo sounds a lot to me. I only spend £15.00 every 3-4 months or so. Just keep to txt as much as possible, or use other phones if I have to (e.g. work etc) and finally keep conversations very short. A lot of the time with mobiles is just passing the time on with calls/txt rather than using in an emergency.

Do you have any other expenditure? Birthdays, Holidays, Travel expenses, Pet Bills, Land line phone bill/broadband, socialising? Are you entitled to any other benefits? Working Tax Credit etc. There is further help on the site on benefits but don't know how to insert a link...hope the professionals come to your aid soon!

Good Luck and keep going in the right direction...looneyleo

Spirited_2

It looks like you are doing a lot already. I'm no expert (just started myself) but good luck.

Where do you take the children? There are lots of cheap things you can do, picnic in the park, feed the ducks, etc that might help.

T.L.C

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incomings
1200 a month wadges 300 a week max can varry
100 a month child benefit

4800.00 debt
3800.00 cc 15% apr £90 a month min payment
1000.00 overdraft £7 a month charge

outgoings
100.00 a month council tax
90.00 a month visa
70.00 rent a week
7.00 gas meter a week
7.00 elec meter a week
40.00 shopping a week
10.00 4 mobiles on paygo a month only if urgently needed if not none bought
20.00 on days out with kids we take pack lunch
40.00 for petrol for work
30.00 month bt phone
15.00 internet with tesco
10.00 month tv licence saving for it

T.L.C

looneyleo i have a budget of two text per day which i carry over if i dont use them. thank you for your help

spirited thank you i take the kids to the park or musiums <sp>
or go visiting

domestic_goddess

Well done for reducing your debt so far.
what about selling some stuff on e bay? I do that as my kids are always growing out of clothes, I went through my cupboards and anything not used for 12 months I am in the process of putting on e bay. I have made a fair amount so far!!!!

every little helps

looneyleo

HI TLC,

From your SOA you seem to be spending £811.00 pm leaving £489.00 per month? Is that right? Do you know where the dispoable is going? If you are anything like me...it just disappears into childrens clothing, school expenses and addional little things that you have to buy but it then soon adds up? Can any of this money be siphoned off to make an increased payment on the card?

looneyleo

T.L.C

looneyleo usualy i put about £150.00 a week on the cc £392.00 this week
any spare goes there first xxt

looneyleo

Well TLC...that's brilliant! Sounds to me that you're making excellent progress. Could maybe tweek a little here and there on the boradband/phone line and maybe moving the credit card to a cheaper interest rate if available. Keep on going with the hardwork...hope some of the other experts can advise a little more on the SOA

looneyleo