Joining the debt free wanabees

clarkylou

I have managed to pay some more to the debt total! That's about £1000 paid off. I'm due some more money this week from work I did a few months ago so will be able to pay off some more hopefully in the next week. Also signed up for mystery shopping and set up a new class for september which should bring me in a little bit of money.

It is good to see the balance going down, just wish it would go faster!

gallygirl

Don';t be too hard on yourself, 1k in 2 months is great, well done:j :j

clarkylou

Cheers Ali007 :beer:

I know it's not bad going really!

clarkylou

Well, just been going through the finances again. Haven't managed to decrease the debt anymore so far this month. I'm still waiting on a few cheques to come through...although they'll need to go on some essentials (MOT etc). I have taken on some extra work that I will get paid for on Wednesday so I will be able to pay £500 towards things:j

However still feeling positive about it, I had a major breakthrough last night. Me and my partner sat down and spoke about how we can get ourselves out of this mess. He is in about £10,000 worth of debt on a credit card, he has already moved £3000 of the balance to an interest free account and is trying to pay extra into it. He is also freelance and it's been quiet the past couple of months, although the end of the year is looking busy.

Anyway I sat down today and put together a budget for us both to try and stick by. We have £150 per month for shopping, still some money to go out (essential to us generating more work).

I also looked into getting my bank charges refunded (£1800 over 6 years), so that letter will be sent next week. Also started my tax return, and I might be in line for a refund. Fingers crossed.

We are really skint until Tuesday, only had £12 to go and get food shopping and travel until then. But I've managed it £9 on food and we just need £2 for bus fare's tomorrow.

Now he's on board I think things will be alot easier for us to get out of this mess and start saving for the wedding. :rotfl:

moozie_2

Hi clarkylou

Just wanted to say welcome and well done, you seem to be doing so well! :T You're absolutely right, having your OH on board will make things a lot easier psycologically and practically with getting down the food bill, etc.

Keep it up and keep posting - it's lovely to see another DFW doing so well!

Moozie

clarkylou

Cheers Moozie,

Also just been filling in my tax return online and it looks like I only owe them a couple of hundred £'s for 05-06 which reduces the amount I owe to the Inland revenue to £1002:j Going to double check my expenses, I'm sure I have more receipts some where for stationary & travelling. So I might be able to reduce it further. That would really help!

clarkylou

Yeah I submitted my tax return and only owe them £224.26 for 05-06 :j
Checked my balance online with them so it means that I owe them 893 instead of over £1000! Very happy girl.

Also got paid today from some work I've been doing for the last couple of months so managed to pay more of the company debt off, pay 90% of my bills. Going to update my signature...so show how things are going. So total Debt at the moment is £14691.82:rotfl: :rotfl: :T :j

Also made £62 on quidco the last couple of days signing up for free trials and buying things I needed for the business anyway...I use the income from that for the xmas budget!

FatJock

Hi clarkyLou,

I've only just read this thread. I noticed in your original SOA that you are paying a student loan. Can you defer this? Also I have a mate thats self employed and his accountant advised him to claim working tax credits (he gets about £90 a month). Not sure how this works but it might be worth investigating. Also - are you claiming all the 'benefits' a self employed person is entitled too? (i.e. lunch, stationery, etc etc).

Hope this is useful.

regards,
FatJock

clarkylou

I'm above the band for the Student Loan deferment, and it actually makes me feel better that it's being paid back.

I will look into the Tax Credits again, I was earning to much for the year before but think I will be eligible this year. Thank you for reminding about that.

I have took full advantage of the allowed expenses for self-employment, hence the reason the tax bill reduced so much.

Great feeling being in control of stuff!

Cheers

vodkabarbie

Just wanted to say I'm in a similar position, it's scary reckoning it up but I feel strangely better for it now! Good luck - you are doing really well