urgent advice needed

BILLIE

Come on regret let us all know how things are - keep posting to keep you motivated. Billie

regret70

hi sorry i havent been on today, ive been really busy at work.

i have made an arrangement with the mortgage to over pay to make up the arrears so thats why it has changed so much.

feeling a bit stressed out about it all. did a food shop last night, managed to do a weeks shop for £24 (its usually £75 when my husband comes with me!) so i was very pleased. it will help my diet too!


Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 0
Number of cars owned.................... 2
Monthly Income Details
Monthly income after tax................ 1850
Partners monthly income after tax....... 650
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2500
Monthly Expense Details
Mortgage................................ 820
Secured/HP loan repayments.............. 145
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 81
Electricity............................. 50
Gas..................................... 30
Oil..................................... 0
Water rates............................. 20
Telephone (land line)................... 20
Mobile phone............................ 40
TV Licence.............................. 12
Satellite/Cable TV...................... 25
Internet Services....................... 0
Groceries etc. ......................... 150
Clothing................................ 0
Petrol/diesel........................... 100
Road tax................................ 10
Car Insurance........................... 35
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 35
Contents insurance...................... 0
Life assurance ......................... 10
Other insurance......................... 10
Presents (birthday, christmas etc)...... 10
Haircuts................................ 0
Entertainment........................... 100
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1723

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

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 90000....(820)......0
Hire Purchase (HP) debt ...... 4500.....(145)......22
Total secured & HP debts...... 94500.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
tesco loan.....................2500......100.......0
sainsburys loan................2000......120.......18
aliance and leicester..........3000......120.......0
barclaycard....................1400......30........27.9
barclay loan and od............7000......250.......0
natwest overdraft..............3000......200.......0
Total unsecured debts..........18900.....820.......-

Monthly Budget Summary
Total monthly income.................... 2,500
Expenses (including HP & secured debts). 1,723
Available for debt repayments........... 777
Monthly UNsecured debt repayments....... 820
Amount short for making debt repayments. -43
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -94,500
Total Unsecured debt.................... -18,900
Net Assets.............................. -113,400
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

dancingfairy

Hi - your electric and gas seem a bit high - have you shopped around for these? also if you do want to switch go through a cashback site for money back.
Mobile - if this is just for 1 person phone them and see if they can drop you down a tarriff - it's a bit high - you should be aiming to get it to below 20 pounds each really.
Also check the buildings insurance is good value for you - if you need to switch go through a cashback site.
Entertainment - try and do more free/cheap things - check out your local museum, have friends over for meals, dvd nights, walks in the country, etc etc - try and be creative and you might be able to cut this down a bit.
You'll soon find moneysaving to be very addictive - and much better for you than gambling.
df

Welshdebtor

for others reading this - above is her updated SOA, she has one earlier in this post

tompritchard

how far from work do you live? You could potentially get rid of the car if it was a bike ride away - so you could ditch any gym memberships at the same time too.

Also, if it isn't too far but you need to drive you could get rid of your car and buy a cheaper model, saving your £145 a month for other things.

I'm sure other people on this forum will have better advice for cutting your debt - but another option is looking at ways to earn more cash - you seem to know the internet well - you could create a blog to help gamblers perhaps and run google adsense adverts alongside it (you can block out gamble ads from appearing). It wouldn't be much to begin with but could be theraputic.

Pwb Lwc,

Tom

dancingfairy

ahh - thanks for that- I read so many threads I can't remember what's already happended sometimes.
To regret- you are so close to it balancing now - only need to shave 43 pounds a month off.
Have you tried getting a loan from a credit union - if you are eligible it may be at a lower rate than on some of you debts and you could use it to pay off some with the higher aprs - barclaycard would be a good target.
df

regret70

thanks for all your quick responses, there are some lovely ideas there thanks. i have set up a little website selling cupcake crafts as i really enjoy doing that and making them takes my mind off gambling and keeps me occupied, i have put some of my own design crochet patterns on ebay too and have made £5 in 2 days, not enough to save me i know but its better than a poke in the eye!
i have always fancied having a go at a blog. im guessing i could stay annonymous?

i cant really give up my car as my job is community based and it is in a rural area so i need a reliable car.

thanks for the advice on my mobile, i am in a contract till june but thinking of going on pay as you go after that.

Welshdebtor

Yes you could stay anonymous if writing a blog, nobody needs to know who you are.

regret70

well i set up my blog last night i will post the link on here soon