funkymonkey's Debt Diary

funkymonkey

i thought i woiuld write a debt diary like others to let everyone know how i am doing.

so my lightbulb moment was at the bginning of the month when i added everything together and realised we were in 52K worth of debt. im only 22 and dont want this to hang over me for te rest of my life so have started to cut back.

ive cancelled my £10pm dvd rental
i have put my car up for sale. - this should raise 5K which i can get a cheap run around and then pay 4K off of a card
i am cancelling sky today!
its a shame i cant cancell my mobile contract yet. it doesnt run out till november.

i got a letter this morning from Barclaycard saying my minimum payment will be going up from 2 to 2.25% - so thats another increase on outgoings - AAAAAH

Imelda

hey funkymonkey,
You've made a good start, why don't you post your SOA on here (or a link if you have already done it elsewhere) to see if anyone can shave a few £££ off your outgoings.
I look forward to reading your diary.

lynzpower

FM
phone your mobile co and see if they can put you on a lower tarriff, I did this, it can be done.

owessomuch

Hi Funkymonkey,

Just to say don't panic your not alone. I'm only a couple of years older than you and as you can see from my signature also have a very high debt figure.

Everyone on this site are really helpful.

Your taking steps in the right direction and just remeber that it will take a bit of time to pay it all back (unless you win the lottery in the mean time!)

Good luck with becoming debt free.

funkymonkey

Total income from me and partner 2100
Outgoings 2175.85

Rent 575
Council Tax 84
Electricity 25
Water 7.3
Sewage 12.92
Tv Licence 11
Sky 9
Bt 15
O2 25
Vodafone 30
Car Insurance 30.03
Pet Insurance 6.61
Broadband 17.99
Egg Loan A 177
Egg Loan J 162
Barclaycard MC 1 42
Barclaycard V 1 56
Barclaycard MC 2 50
Barclaycard V 2 37
Mbna 135
Halifax One 44
Sky card 1 87
Sky card 2 177
Tesco 60
Lidl / FF 60
Petrol 120
Car tax stamps 20

To Save

Christmas/Bdays 50
Emergency 50

so as you can see more out than in at moment but have overtime this month to cover this.

here is our list of debts

egg loan 1 10637 6.9%
egg loan 2 9724 6.9%

barclaycard V 1 1467 2.9% LOB
barclaycard MC1 2007 6.9% LOB
barclaycard V2 2765 2.9% LOB
barclaycard MC2 2095 6.9% LOB
halifax card 2400 0% feb 07
sky card 1 3400 0% feb 07
sky card 2 7000 0% feb 07
mbna card 5500 2.9% dec 06

overdraft 1 1485 0% to £1000 / so £485@7.9%
overdraft 2 1000 all 0%
joint account OD 750 14.9%

hp 2000 buy now pay jan 07 (sofa and cooker)

total 52230

funkymonkey

hi all thanks for the replies - lynz - what i hope to eventually do is get rid of vodafone which runs out in november - then im hoping to get another number with O2 that is linked to same account coz my partner is on a great tarrif - 500 xnet and 100 texts for £25 - we use his mobile loads when at home instead of BT

funkymonkey

am with the cheapest electricity - have recently moved companies and am on economy 7 - no gas or oil

Molanole

Hey there - just a quick one from me to say well done on posting. I really look forward to reading your diary.

Mola x

lynzpower

you will be able to reduce your tarriff thgouh from now till november it shouldnt put you on a new contract IYSWIM

funkymonkey

yes - i will give them a call and try that! anyone know what the lowest vodafone tarrif is? would like to be armed before i ring lol!

Verbatim

Good luck. Can't help with info on the tariff I'm afraid. I'd like to know too as I'm with Vodafone too.