Statement of Affairs - Can't Improve it

talana

shawtj2 wrote: »

So should I cancel the overpayment and increase my credit card payment per month from £80 to £130???
As I am making more than the mininum payment anyway.;)

That would be one option.
I suspect it's not the right option in your case, but without your full SOA I'm just speculating. There still seem to be things missing.
Petrol costs?

It could also cover the car insurance and stop those fees at £25 a time.
Reclaiming charges is one thing, but better still is not to get them in the first place.

EDIT - and I didn't even spot the overdraft! This is why we need to see it in standard SOA format.

niccatw

Hey Shawtj2

Definitely try the spending diary - it absolutely cuts my spending right down! I haven't kept one for a couple of months - and looking at my December and January bank statements - ouch! I could have paid of a chunk of debts if I hadn't spent so much on "stuff"!!

Started my spending diary today and had to go into town to get a few things (on a christmas voucher and with a list in my pocket!) Just knowing I would have to put any "extras" in my diary stopped me from gettting them in the first place. It's the main thing, I reckon, that keeps me on the straight and narrow!

Is your mortgage a 100% mortgage or in negative equitity? I also make overpayments on my mortgage but that's because I an currently on the SVR, with an attached unsecured loan and can't move to another mortgage provider until at least the unsecured loan is paid. If you are in a similar position, I understand why you don't want to stop overpayments.

If you have the equity in though, seriously think about, if not stopping, then halving the overpayment and putting the difference towards your credit card. Unless your credit card is 0% and you can pay it all off before that ends, then the interest rates alone are going to whck that debt up unless you can throw every spare penny at it.

I don't understand why you keep getting charges for the direct debit that comes out on the third. Surely it was set up so that it was within the payment period? If not, and they won't move it, then, as another poster suggested, definitley contact them ans see if there's another way to pay that will suit you better.

I'm with o2 too and have to pay £15 per month on my mobile to get broadband at £7.50. If you only have to pay £10 per month, I think I'll be giving them a call and asking for exactly that .

Good luck

nicnacnoo

Hi shawtj2, was just wondering if a seperate bills account might help? so when you get paid you transfer the money you need for bills for the month then what is left is yours or for overpayments etc, i agree with others tho, you should deffo be paying the credit card the overpayment rather than the mortgage
Nic

Butterfliesarepretty

just emailed the car ins co to ask again to change the date and that its causing me distress as it was supposed to be set up the 16th.
Will phone mortgage co and halve the overpayment.

Petrol is about £10 a week except when my daughter visits cause I have to take her back to chester 50 miles from Bury. so prob £20 to top up for that weekend.

I try to stay in and not go anywhere. I should also go to asda at bolton on way from work rather than travel to bury home then go pilsworth which if further. I will look at morrisons too as one in whitefield and bolton. I live bury.

I hate being single its tough but have survived since divorce 2001 on my own so sure i can continue.

Poosmate

Your car insurance is £31. You are overpaying your mortgage by £50. If you stop overpaying the mortgage for just one month then your bank account should be in credit enough to cover the car insurance when it's due and stop those £25 bank charges.

Stop overpaying your mortgage and get your bank account sorted immediately. The £50 you overpay is costing you at least £25 per month as you are doing it at the moment.

I would also reccommend opening another current account and put £xxx into it each month on payday to cover all of your DD's and move them all to that account. The best thing about doing this is that some of the bills you pay over 8 (water rates Apr-Nov) or 10 (Council tax Apr-Jan) months so at the end of the financial year you build up "spare" cash in that account. I do this and love February and March.

Hope that helps,

Poo

niccatw

I know, it can ba a hard slog, can't it? Especially if family and friends don't, or aren't able to appreciate your difficulties, perhaps because they've never been there, or (more often, with my friend's) because they still have their head in the sand.

There's a lot of "tough love" but most of us have been there and are slowly working through, and there's always some-one to offer support. You will get a lot of advice, some of which will work for you and some of which won't. But at least you'll be armed with that advice and can make a decision you know is right for you and your situation.

If your finding it especially tough on a given day, pop into the long-haulers thread and say hello, or have a look at some of the debt-free diaries for inspiration! It truly is amazing what people acheive when they put their minds to it - and here was me thinking I was a stubborn one

Oneday77

Hi Shawtj2. Please fill out the SoA savingmummy linked for you. It will help make things a lot clearer for us to advise on.
DD wise get your self a second basic bank account that accepts DDs. Switch all your DDs to it for the 1st of the month. When you get paid on the 15th have a standing order paying across your DD amount +£10. That way all your DDs will be covered and the money in your main account is not teh source of the funds fo rlater DDs.
Also point out to the companies that are awkward regarding dates that DDs have to come out on agreed dates. If in doubt write to them with dates you want and give them a choice. Once agreed if they take out prior to those dates they pay the cash back and your charges.

Mortgage wise you have to stop the OP for now, give your self some breathing space and enjoy yourself with your wee one. Pay your mortgage off 1-5years earlier or enjoy yourself now 12years before you can be mortgage free.

Gym wise do you have any family out of town. Most gyms, especially non-chains will allow you to cancel if you move out the area that is reasonable for you to travel to the gym

Car insurance wise unless you have points or claims you can reduce. This is where screen scrapers can fall down as they don't specialise. Have a look in some of the custom\classic car mags for insurance adverts. £366 a year for a 42yo woman to insure a car is too high, import or not.

Can you pay your council tax over 12months rather than 10?

Hope any of that helps.

littlemissmoney

shawtj2 wrote: »

I buy for my daughters birthday in june, Probably £20
Birthdays at work I give £2 a month.

You are spending more on birthdays at work than on your daughter's!! Do you have to pay £2 at work?

MrsTinks

I used to have an import MX5 too - they're great little cars but not the cheapest to maintain unless you're mechanically minded.
That said they're not gas guzzlers - have you shopped around for cheaper car insurance? I found Adrian Flux was pretty good...
Stop overpaying your mortgage - you can't afford to right now. Can you get a second job? Maybe bar work?
And please fill in a full SOA for us

dandm1

Im not sure how it would work for you, but my BT phone line rental and free evening and weekend calls is about £15 a month in total. Its not a huge saving, but perhaps you could look into this and cut back the extra money you are spending on Tesco Homephone Calls?