Steph Converted wannabe diary!

steph123steph

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edinburgher

Best of luck - now get that SOA up

Sounds like you've got great reasons to remain motivated, so I'm sure you'll do well. Currently paying off my own debts and living in hope of being a first time parent in the not too distant future.

steph123steph

edinburgher wrote: »

Best of luck - now get that SOA up

Sounds like you've got great reasons to remain motivated, so I'm sure you'll do well. Currently paying off my own debts and living in hope of being a first time parent in the not too distant future.

Thank you :-) Good luck to yourself to! I will copy and paste somebodys statement of account and update all my own dets :-)

Had an unexpected journey to ER tonight so not in the best of minds right now!

steph123steph

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edinburgher

Hope whoever required ER is ok now?

If you're in a crap position for a 21 year old, I'm gutted, as I'm 26, have a reasonable job and earn about the same as you

You're in a strong position to sort out your debts, as you have a healthy surplus and areas where you can trim the fat.

Telephone (land line): too high - who is this with?
Mobiles: ditto - £75 is too high for two people unless you're using them for work. When are the contract/s up? Re-negotiate them - it's easily done.
Clothing: A mite too high - you could reasonably cut this back a little
Childcare: Eek - this is high. Am I right in thinking that this is for full-time childcare during the week? Are there no voucher schemes which apply to you?
Entertainment: You could half this, make better use of vouchers, free attractions and family time and still enjoy yourselves..

Just a few small suggestions

*Edit: One other small query - you have a mortgage and a child, but no life insurance? This seems like a false economy and I'd definitely consider shopping around for a policy in case the worst should happen (God forbid!) As you and OH are both young, the premiums should be very competitive, too (unless you're both chain-smoking alcoholic race car drivers?)

steph123steph

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edinburgher

PAYG is really good these days - I've not had a contract phone for 5 years now and I certainly don't miss it

Glad DD is well - I'm sure that slightly cheaper fun days out wouldn't affect her in the slightest - after all, all young kids want is to have fun and hang out with their parents.

Definitely check out the life insurance side of things - £15k is (I suspect) not nearly enough to pay off your mortgage, which is what most people aim for when they have dependants. I took a quick look and would able to get £100k of insurance for 40 years at £6.53 a month (26 yr old non smoker). If anything, it should only be cheaper for you, as you're a woman (higher life expectancy) and younger than me :beer: