Hope you're sitting down, please be gentle - I know it's a mess!!

canspendnomore

We did know when we took out the phone and internet that we could get it cheaper, but it was only BT that could get us connected up within a reasonable time period when we moved. Sky (who we were with before) wanted us to wait about 2 months to get it all put together, which seemed ridiculous.

Having had my light bulb moment I have wondered whether we would be better off paying the penalty and going somewhere cheaper, does anyone have any views on the whether that would be a good idea?

littlemissmoney

canspendnomore wrote: »

He's been learning for 2 years so is due to take a test soon, so can't stop them now.

I think he needs to change driving instructor!! The current one obviously isn't working well for him if he has paid out £170 a month for 2 years (£4,080 :eek:) and hasn't put in for a test yet.

Deep_In_Debt

Also, £22 bank account fee? What is this for?

canspendnomore

littlemissmoney wrote: »

I think he needs to change driving instructor!! The current one obviously isn't working well for him if he has paid out £170 a month for 2 years (£4,080 :eek:) and hasn't put in for a test yet.

We've only recently increased this to 2 hours per week, to try and get his test more quickly.

canspendnomore

Deep_In_Debt wrote: »

Also, £22 bank account fee? What is this for?

Fees for overdraft.

iamana1ias

canspendnomore wrote: »

Fees for overdraft.

Unauthorised overdraft?

What's the £44 overdraft cost then?

Why are you paying £66 per month for nothing?

canspendnomore

Both payments are for authorised overdrafts. One on the joint account and the other on my account.

savingmummy

canspendnomore wrote: »

We've only recently increased this to 2 hours per week, to try and get his test more quickly.

I may be wrong because i stopped mine for obvious reasons but the average person takes 17-20 lessons that was what my instructor told me anyway. It is a huge loss each mth when its needed on more important things x

canspendnomore

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 3
Number of children in household......... 1
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 1996.30
Benefits................................ 122.05
Other income.(Rent from flat)........... 628.33
Total monthly income.................... 2746.68

Monthly Expense Details
Mortgage.(House/Interest)............... 704.4
Secured/HP loan repayments.............. 449.7
Rent.................................... 0
Management charge (leasehold property).. 45.64
Council tax............................. 147.6
Electricity............................. 50
Gas..................................... 37
Oil..................................... 0
Water rates.(12 mths).................... 29.7
Telephone (land line)................... 21.5
Mobile phone.(2 phones)................. 45
TV Licence.............................. 11.88
Satellite/Cable TV...................... 20.85
Internet Services....................... 26.94
Groceries etc. ......................... 165
Clothing................................ 10
Petrol/diesel........................... 20
Road tax................................ 10
Car Insurance........................... 27.5
Car maintenance (including MOT)......... 25
Car parking............................. 0
Other travel............................ 150
Childcare/nursery....................... 0
Other child related expenses............ 8.67
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 27.05
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 57.11
Presents (birthday, christmas etc)...... 150
Haircuts................................ 0
Entertainment........................... 2.64
Holiday................................. 37.5
Emergency fund.......................... 0
Regular Savings......................... 25
Driving Lessons......................... 173.33
Total monthly expenses.................. 2479.01


Assets
Cash.................................... 300
House value (Gross)..................... 387000
Shares and bonds........................ 0
Car(s).................................. 5000
Other assets............................ 0
Total Assets............................ 392300


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(704.4)....0
Secured Debt.................. 40000....(354.5)....0<
Rented Flat Mort.(Int only)....0........(95.2).....0
Total secured & HP debts...... 40000.....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Overdraft......................2000......22........0
Overdraft......................4500......43.99.....0
Family Borrowing...............20000.....200.......0
Car Loan.......................350.......53.33.....0
Alliance and Leicester.........0.........48........0
Capital One....................0.........32.08.....0
MBNA...........................0.........70........0
Barclaycard....................11000.....230.......0
Total unsecured debts..........37850.....699.4.....-


Monthly Budget Summary
Total monthly income.................... 2,746.68
Expenses (including HP & secured debts). 2,479.01
Available for debt repayments........... 267.67
Monthly UNsecured debt repayments....... 699.4
Amount short for making debt repayments. -431.73

Personal Balance Sheet Summary
Total assets (things you own)........... 392,300
Total HP & Secured debt................. -40,000
Total Unsecured debt.................... -37,850
Net Assets.............................. 314,450

The Christmas and Birthday figures are just a guestimate as is the food shopping. I have absolutely no idea really now much I spend. Am going to keep all my receipts this month to see (bearing in mind it'll be post light bulb!!!)

Hope this is better. Thanks for your comments so far. Keep them coming. x

iamana1ias

canspendnomore wrote: »

Both payments are for authorised overdrafts. One on the joint account and the other on my account.

Are they fees or charges? That's extortionate!

I have a free £500 overdraft on my account. Might it be worth changing banks?