Easy way of organising

carlih1

Hi

I have been really good the last 6 months with my money but i never actually get to the point where i know how much to pay off debts etc. The only ones i am paying at the moment is a onetel account which a man comes to the door, this is a much better approach as i remember then. He is also going to start collecting for an old insurance policy of mine that never got paid.

So thats two of about £250 in total. The rest just get left. I knocked £500 off my credit card bill which is defaulted, (for unfair charges). I tried to get them to reinstate it as it was mostly charges buyt they wouldn't. Seems silly as i would then be paying them interest.

There are a couple disputing unfair charges which will be dealt with, but apart from that i am doing nothing.

I NEVER work out my income and outgoings for each month. My bills go straigfht out of my account and everything else gets spent, thats about as much as i know.

Anyone got any good advise on my budget an easy way of doing it that i can cope with every month. I am getting better with my paperwork filing etc but thats about as far as it goes.

Thanks in advance

Carli x

domestic_goddess

Sounds like you need to go back to basics. I would say you should post your SOA on here and we can go from there.

As for organising stuff I have those see through plastic wallets - one for each bill ( gas, elec credit card etc). I also have one for Things to do so when i recieve a bill that needs paying I put it in there until i have time to do it. I go through my things to do folder once a week and when i have done stuff i put it in the proper file. This probably sounds a bit over the top but at least it keeps me on top of it.

I am also just starting but the first step is to realise how much you owe and to who. If you are bad at remembering payments set up direct debits - even if just for the minimum, you can always pay extra.

Good luck

postingalwaysposting

at the momment i have plastic boxes that hold all my bills/paper work and i have a note pad (19p) which i write all my direct debts, bills and spending on and then keep a running total of my account balance on this sheet too. When a bill comes out or i spend money i scribble it out/write it down, then i make adjustments to the balance.

I must say though i have now opened another account, so i have a spending account and a bill acount, when i get payed i add up all my bills and leave that in the bills account, i then move all the spare cash into my spending account, this way the balance in my spending account is the true amount of money i have. I must say though i still write down all my bills on my notepads and then cross them out when they are payed, and i still keep the bills/paper work in plastic boxes

domestic_goddess

two accounts seems like a good idea!!!

i might try that

postingalwaysposting

sickofhavingnomoney wrote:

two accounts seems like a good idea!!!

i might try that

i must say it does seem to kinda work, with a family you can even have three, on for bills, one for food and one for spending I have internet banking and the two accounts are with the same bank so it takes two clicks to transfer the money

carlih1

Hi

My account does the transfer thingy for me which i great because i had soo many bank charges before. That has helped miles.

My SOA is posted here URL="http://forums.moneysavingexpert.com/showthread.html?t=183535"]http://forums.moneysavingexpert.com/showthread.html?t=183535[/URL]

I really need help with the whole writing down everything every month!

C x

Sea78

HI,

I have my own SOA written in my notebook. Then when bills come in I copy my SOA into another section of the notebook - fixed amounts (like £20 dd to gas) are written before the start of the month . Variable amounts are written in when I receive the bills (like a CC bill - I know this will change every month so wait until I get the bill then write in the next month's payment).

I then have another page with debts and where I'm at with them all.

Another page for extra income generated that month, whether I've got the money, how much is left after p&p (if selling stuff) and then where it is going (which debt) and a tick once it's been paid out.

Others do this on a computer software package, but I'm not so keen - I like writing it out by hand - focuses my mind.

It does take time and motivation - I also write down (went a bit off track this month though) what I spend on groceries and keep a running total. If it is getting too near my limit of £200 I cut way back and really watch what I spend.

Also useful for meal planning.

Got the notebooks off my mum who picked loads up at a conference

Is that what you mean?

Sea xx

duncans-mum_2

I do pretty much the same. A notebook with all my direct debits for usuals, gas, elec, etc. I then take that from my income and I have X amount left. I then decide how much to pay on each debt and pay it straight away. I cross off payments from my book (I check my balance on the internet pretty much everyday). I,m lucky that we generally use my monthly wage for all the bills and stuff and my OH is "our spending money" for food and things, so having that second account is really helpful. I find the notebook thing great, because I have it clear in my head whats happening. I pay pretty much all dd and c/cards on the first of the month as I get paid on the 28th and then don't have to worry for the rest of the month.

In_Search_Of_Me

THis is really interesting!! We all do it so differently! I started with a computer spreadsheet which I tweak which is effectively an SOA with another one for loan, ddm's, credit cards etc but decided to have a ledger in the end as preferred writing down & saves printing it off...I also have a little notebook which I have a starting +/- column...I have my soending in the - & deduct money as I go & then the + side has any income...that way I know each day where I am. Re bank accounts I have a separate one for DDM (it works - havent paid a late fee which is a bummer while you lot are allclaiming yours back!!), day to day current acount & savings where money stays collecting interest til end of the month & then I pay what I can into credit cards etc...thats it. Sorted! Filing all done in lever arch files into gas/elec/mort/insurance etc....SOA would be a good idea but I think your main goal needs to be getting organised!! Hard if it doesent come naturally (have to say I think I am a bit a*retentive but less though than some!) but does make a huge difference....would also suggest that you get your credit rating...

"but apart from that i am doing nothing. I NEVER work out my income and outgoings for each month. My bills go straigfht out of my account and everything else gets spent, thats about as much as i know."...at the end of the day people will support you but being honest (& being as gentle as possible!) you need to start making an effort! Its not going to get better by itself....I know its a pain, I know it takes time, I know its depressing but sorting stuff makes you feel 110% better! Try it & see!! Big hugs!

gallygirl

I agree with fishface - this is really interesting!
I have a spreadsheet set up with all my dd's coming out, also housekeeping for each week, and diesel each month.
Never have clue what I have in the bank on any day - but know what I'll have in the day before payday, which is what really matters to me. (have a friend who can't understand why 1100 in account today doesn't mean she can spend £300 on a coat).

Carlih you need to get yourself organised - it's not rocket science! Make a list of all outgoings, and the dates - depending on how you like to operate either on paper or on a spreadsheet. If paper, remember to take into account 5 week months. Add in your income, balance is what you can chuck at debts. As far as spending goes - keep a diary of everything you spend - hopefully like me you;'re a lazy mare so would sooner not spend than find the time to write it down!

List all debts in priority order - normally this would be by % rate, but if you have defaulted and are getting charges sort these out first. If you don't know % rates - tough!!!! Put some time in on the phone & find out, you need to take responsibility & sort out yourself. Sorry, don't mean to sound harsh, but if you leave it all to someone else to sort out you won't get any satisfaction from clearing debts - whereas if YOU work it out, YOU get the satisfaction of clearing them.

Good luck & keep us informed of progress x

beanielou

Carlih
Im just going to say as most folk have-ou need to get organised.
Only you can do that & once youm do that you should find things easier to deal with