Aargh massive overspend each month

Beckyp1976

Hi

Hope someone can give me some ideas, just completed the budget planner on here and things are much worse than I thought. I am going to have to have a long hard look at my finances but am hoping someone on here can give me some pointers as well.

Thanks

Becky

b]Statement of Affairs and Personal Balance Sheet[/b]
Monthly Income Details
Income from Employment (after tax). . . . . . . . . . . . . . . . . . . . . . . 1,700.00
Income from Self Employment (before tax). . . . . . . . . . . . . . . . . . . . 0.00
State Pension . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Private Pension / Annuity Payout. . . . . . . . . . . . . . . . . . . . . . . . 0.00
Benefits (Inc. Child Benefit/Tax Credits & Income Support). . . . . . . . . . . 170.00
Income From Savings & Investments . . . . . . . . . . . . . . . . . . . . . . . 0.00
Gifts From Family / Friends . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Monthly Expense Details
In Your Home
Mobile Phone(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00
TV Licence. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.00
Internet. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00
Home Phone. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.99
Cleaning Products/Cleaner . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.00
Garden Maintenance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33.33
Household Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33.33
Oil . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Electricity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 216.67
Gas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Water . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Council Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 113.00
Overdraft Cost. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00
Bank Account Fee. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Buildings & Contents Insurance. . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mortgage/Rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 475.00
Plumbing/Boiler Cover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mortgage Life Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mortgage Payment Protection . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Life Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00
Food and Household Shopping . . . . . . . . . . . . . . . . . . . . . . . . . . 216.67
Drinks for Home . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65.00
Motoring & Public Transport
Petrol/Diesel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 346.67
Parking . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43.33
Car Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.67
Car Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00
Car Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00
Rail/Bus/Taxi . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Breakdown Cover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Debt Repayments
Credit Card Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 200.00
Hire Purchase Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Personal Loan Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 120.00
Car Loan Repayments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Savings & Investments
Pension Payments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Buying Shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mini Cash ISAs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Lump Sum Saving . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Regular Saving. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
Family
Pet Food. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
School Trips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
School Meals. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Pocket Money. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Nappies/Baby Extras . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00
Laundry/Dry Cleaning. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.00
Children's Travel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Baby Sitting. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Childcare/Play Groups . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 150.00
Pet Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Travel Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Entertainment
Satellite/Digital TV. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Family Days Out . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00
Cinema/Theatre Trips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Books/Music/Films/Computers . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
Big Days Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Shopping for Fun. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00
Pet Costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Hobbies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
IT/Computing (eg Anti-virus etc). . . . . . . . . . . . . . . . . . . . . . . . 0.00
DVD Rental. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Drinking Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 108.33
Eating Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00
Clothes, Health & Beauty
Complimentary Therapies . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Optical Bills . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Haircuts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00
Dentistry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.99
Beauty Treatments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Healthcare Cashplans. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Dental Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Private Medical Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Fitness/Sports/Gym. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Work Clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
New Children's Clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
New Clothes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00
Education & Courses
University Tuition Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
School Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Your Courses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Big One Offs
Funeral Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Wedding Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Sofa/Kitchen/TV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Birthdays . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.67
Winter Holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
Summer Holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41.67
Christmas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
Odds & Sods
Newspapers & Magazines. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Tax & NI Provisions (self-employed only). . . . . . . . . . . . . . . . . . . . 0.00
Regular Charity Donations . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Meals at work . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00
Smokes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21.67
Coffees/Sandwiches/Snacks . . . . . . . . . . . . . . . . . . . . . . . . . . . 24.33

Total monthly income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,870.00

Total monthly expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,803.31

[/font]

Welshdebtor

Do you really spend that much on petrol, shopping and electricity each month?????????????

Tixy

Hi Becky
You are right that is a massive overspend, so if any comments sound harsh this is why

Beckyp1976 wrote: »

Hi

Hope someone can give me some ideas, just completed the budget planner on here and things are much worse than I thought. I am going to have to have a long hard look at my finances but am hoping someone on here can give me some pointers as well.

Thanks

Becky

b]Statement of Affairs and Personal Balance Sheet[/b]
Monthly Income Details
Income from Employment (after tax). . . . . . . . . . . . . . . . . . . . . . . 1,700.00
Income from Self Employment (before tax). . . . . . . . . . . . . . . . . . . . 0.00
State Pension . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Private Pension / Annuity Payout. . . . . . . . . . . . . . . . . . . . . . . . 0.00
Benefits (Inc. Child Benefit/Tax Credits & Income Support). . . . . . . . . . . 170.00
Income From Savings & Investments . . . . . . . . . . . . . . . . . . . . . . . 0.00
Gifts From Family / Friends . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Monthly Expense Details
In Your Home
Mobile Phone(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00
TV Licence. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.00
Internet. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00
Home Phone. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.99
Cleaning Products/Cleaner . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.00
Garden Maintenance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33.33 every month? is it needed?
Household Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33.33
Oil . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Electricity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 216.67 every month? yikes? does this include arrears?
Gas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Water . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Council Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 113.00
Overdraft Cost. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00 do you mean a fee paying account? the cost in interest? or these daily charges that HBOS have started implementing?
Bank Account Fee. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Buildings & Contents Insurance. . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mortgage/Rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 475.00 mortgage or rental? interes only or repayment?
Plumbing/Boiler Cover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mortgage Life Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mortgage Payment Protection . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Life Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00 is this the best deal around?
Food and Household Shopping . . . . . . . . . . . . . . . . . . . . . . . . . . 216.67 how many people for?
Drinks for Home . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65.00 how many people for? need to reduce
Motoring & Public Transport
Petrol/Diesel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 346.67 every month? all journeys essential? is it mostly commuting?
Parking . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43.33 anywhere you could park for free or less a little further away?
Car Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.67
Car Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00
Car Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00
Rail/Bus/Taxi . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Breakdown Cover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Debt Repayments
Credit Card Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 200.00 is this the minimums? we need to know balances & APRS.
Hire Purchase Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Personal Loan Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 120.00 need to know balance & APR?
Car Loan Repayments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Savings & Investments
Pension Payments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Buying Shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mini Cash ISAs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Lump Sum Saving . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Regular Saving. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00 Why saving when you have so much in debts? how much cash do you have saved?
Family
Pet Food. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
School Trips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
School Meals. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Pocket Money. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Nappies/Baby Extras . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00
Laundry/Dry Cleaning. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.00
Children's Travel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Baby Sitting. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Childcare/Play Groups . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 150.00 is this cheapest/all essential? are you getting childcare vouchers if you can to save tax?
Pet Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Travel Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Entertainment
Satellite/Digital TV. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Family Days Out . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00 look out for free/ very cheap activities
Cinema/Theatre Trips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Books/Music/Films/Computers . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
Big Days Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Shopping for Fun. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00 can't afford shopping for fun. Stop altogether.
Pet Costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Hobbies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
IT/Computing (eg Anti-virus etc). . . . . . . . . . . . . . . . . . . . . . . . 0.00
DVD Rental. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Drinking Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 108.33 need to reduce down
Eating Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00 need to reduce
Clothes, Health & Beauty
Complimentary Therapies . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Optical Bills . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Haircuts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00
Dentistry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.99
Beauty Treatments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Healthcare Cashplans. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Dental Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Private Medical Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Fitness/Sports/Gym. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Work Clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
New Children's Clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
New Clothes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00
Education & Courses
University Tuition Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
School Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Your Courses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Big One Offs
Funeral Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Wedding Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Sofa/Kitchen/TV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Birthdays . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.67
Winter Holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00 you can't afford £800 per year on holidays with this size of shortfall
Summer Holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41.67
Christmas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00 try to minimse cost of presents etc. Try earning vouchers from online surveys/reviews to put towards the cost
Odds & Sods
Newspapers & Magazines. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Tax & NI Provisions (self-employed only). . . . . . . . . . . . . . . . . . . . 0.00
Regular Charity Donations . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Meals at work . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00 packed lunches are cheaper
Smokes. . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . 21.67 try quitting? free help on the nhs.
Coffees/Sandwiches/Snacks . . . . . . . . . . . . . . . . . . . . . . . . . . . 24.33 take from home instead/cut out

Total monthly income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,870.00

Total monthly expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,803.31

[/font]

It would help to know how many people in the household, how many cars? what your total debts are (don't forget to include any overdrafts) and what the APRs are. Is your debt actually increasing by £1000 per month? are you still using the credit cards?

RAS

This is a non-standard SOA, but will try and help

You need to tell us how many in the family?

Beckyp1976 wrote: »

Hi
b]Statement of Affairs and Personal Balance Sheet[/b]
Monthly Income Details
Income from Employment (after tax). . . . . . . . . . . . . . . . . . . . . . . 1,700.00
Income from Self Employment (before tax). . . . . . . . . . . . . . . . . . . . 0.00
State Pension . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Private Pension / Annuity Payout. . . . . . . . . . . . . . . . . . . . . . . . 0.00
Benefits (Inc. Child Benefit/Tax Credits & Income Support). . . . . . . . . . . 170.00
Income From Savings & Investments . . . . . . . . . . . . . . . . . . . . . . . 0.00
Gifts From Family / Friends . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Monthly Expense Details
In Your Home
Mobile Phone(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00
TV Licence. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.00
Internet. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00
Home Phone. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.99
Cleaning Products/Cleaner . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.00
Garden Maintenance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33.33 - Sorry this is massive - you need to cut it
Household Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33.33 this is high
Oil . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Electricity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 216.67 - this is ludicrously high. That much per quarter would be high. Turn off everything and then make sure the dial is not moving. Add things one item at a time until you knwo what the problem is.
Gas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Water . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Council Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 113.00
Overdraft Cost. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00
Bank Account Fee. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Buildings & Contents Insurance. . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mortgage/Rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 475.00
Plumbing/Boiler Cover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mortgage Life Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mortgage Payment Protection . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Life Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00 - unless you have impaired health this is very high. For how many?
Food and Household Shopping . . . . . . . . . . . . . . . . . . . . . . . . . . 216.67 - for how many
Drinks for Home . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65.00 - you cannot afford them
Motoring & Public Transport
Petrol/Diesel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 346.67 - you simply cannot afford to run a car
Parking . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43.33
Car Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.67
Car Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00 - this is very high - young or points?
Car Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00
Rail/Bus/Taxi . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Breakdown Cover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Debt Repayments
Credit Card Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 200.00 - breakdown by card, with APRs and limits.
Hire Purchase Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Personal Loan Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 120.00
Car Loan Repayments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Savings & Investments
Pension Payments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Buying Shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mini Cash ISAs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Lump Sum Saving . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Regular Saving. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00 - forget it
Family
Pet Food. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
School Trips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
School Meals. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Pocket Money. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Nappies/Baby Extras . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00 - need to go in housekeeping
Laundry/Dry Cleaning. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.00
Children's Travel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Baby Sitting. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Childcare/Play Groups . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 150.00 - how many and what age?
Pet Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Travel Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Entertainment
Satellite/Digital TV. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Family Days Out . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00 - you cannot afford this
Cinema/Theatre Trips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Books/Music/Films/Computers . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
Big Days Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Shopping for Fun. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00you cannot afford this
Pet Costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Hobbies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
IT/Computing (eg Anti-virus etc). . . . . . . . . . . . . . . . . . . . . . . . 0.00
DVD Rental. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Drinking Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 108.33you cannot afford this
Eating Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00you cannot afford this
Clothes, Health & Beauty
Complimentary Therapies . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Optical Bills . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Haircuts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00 - find your local college
Dentistry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.99
Beauty Treatments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Healthcare Cashplans. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Dental Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Private Medical Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Fitness/Sports/Gym. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Work Clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
New Children's Clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00you cannot afford this
New Clothes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00you cannot afford this
Education & Courses
University Tuition Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
School Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Your Courses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Big One Offs
Funeral Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Wedding Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Sofa/Kitchen/TV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Birthdays . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.67
Winter Holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00you cannot afford this
Summer Holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41.67 you cannot afford this
Christmas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00 - £15 for birthdays and Christmas
Odds & Sods
Newspapers & Magazines. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Tax & NI Provisions (self-employed only). . . . . . . . . . . . . . . . . . . . 0.00
Regular Charity Donations . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Meals at work . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00you cannot afford this
Smokes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21.67you cannot afford this
Coffees/Sandwiches/Snacks . . . . . . . . . . . . . . . . . . . . . . . . . . . 24.33you cannot afford this

Total monthly income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,870.00

Total monthly expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,803.31

[/font]

Your are living way beyond you means.

You appear to have children. have you checked your benefit entitlements on https://www.entitledto.com

dib-dab

Beckyp1976 wrote: »

Hi

Monthly Expense Details
In Your Home
Mobile Phone(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00
TV Licence. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.00
Internet. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00
Home Phone. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.99
Cleaning Products/Cleaner . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.00
Garden Maintenance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33.33 What is this spend for? Sounds high - if for a gardener then can you do it yourself?
Household Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33.33 This sounds high as a monthly spend - could you upgrade whatever it is that is costing so much to maintain?
Oil . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Electricity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 216.67 Huge amount! Why so expensive? Does this include other things as well as electricity?
Gas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Water . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Council Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 113.00
Overdraft Cost. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00
Bank Account Fee. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Buildings & Contents Insurance. . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mortgage/Rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 475.00
Plumbing/Boiler Cover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mortgage Life Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mortgage Payment Protection . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Life Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00
Food and Household Shopping . . . . . . . . . . . . . . . . . . . . . . . . . . 216.67
Drinks for Home . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65.00 Can you cut this down? Maybe in half?
Motoring & Public Transport
Petrol/Diesel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 346.67 This is very high - is all of this necessary?
Parking . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43.33 Can you park further away somewhere free or cheaper and walk?
Car Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.67
Car Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00
Car Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00
Rail/Bus/Taxi . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Breakdown Cover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Debt Repayments
Credit Card Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 200.00
Hire Purchase Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Personal Loan Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 120.00
Car Loan Repayments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Savings & Investments
Pension Payments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Buying Shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mini Cash ISAs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Lump Sum Saving . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Regular Saving. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
Family
Pet Food. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
School Trips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
School Meals. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Pocket Money. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Nappies/Baby Extras . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00
Laundry/Dry Cleaning. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.00
Children's Travel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Baby Sitting. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Childcare/Play Groups . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 150.00
Family Days Out . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00 Can you cut this down a but by researching cheaper or free things to do as a family?
Books/Music/Films/Computers . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
Shopping for Fun. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00 You should be able to cut this out if it is non essential stuff.
Drinking Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 108.33 This sounds like a lot especially as you are also spending on drinks at home. Surely this cut be reduced quite drastically?
Eating Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00
Clothes, Health & Beauty
Haircuts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00
Dentistry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.99
New Children's Clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
New Clothes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00 Do you need new clothes every month?
Big One Offs
Birthdays . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.67
Winter Holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
Summer Holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41.67 Saving for 2 holidays should be cut really if you are overspending every month.
Christmas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
Odds & Sods
Meals at work . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00 Take packed lunches.
Smokes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21.67 Have you thought about giving up smoking? Easier said than done I know but worth a thought.
Coffees/Sandwiches/Snacks . . . . . . . . . . . . . . . . . . . . . . . . . . . 24.33

Total monthly income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,870.00

Total monthly expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,803.31

[/font]

Hi Becky

You seem to be spending LOADS on eating, drinking, smoking, shopping and holidays so you should be able to make some quick changes which will mean that you won't be overspending each month.
Well done for coming on here - it won't be easy to change your lifestyle but you need to if you want to tackle your debt and overspending.
Try using the 'demotivator' tool on this website which might shock you into realising how much you are spending on non essentials.
I am not one of the people who thinks that you should cut out absolutely all spending on enjoying yourself (unless you really really have to which I know some people do) but yours can be drastically reduced.
Well done for coming on here for help and good luck with getting your finances sorted.

Horace

How many people at home?

It may be easier to use the mse SOA https://www.makesenseofcards.com/soacalc.html - it is easier to read plus you can list your credit cards and more importantly their APRs.

What is the garden maintenance and house maintenance? Drinks for home £65 - get rid, if there is only you, you could reduce your grocery bill (included in this should be your household items - easier to list as a whole and not separate). Make your own lunch and take it to work dont buy stuff at work.

Keep a spending diary to find out where you are frittering money away. Use the moneysaving oldstyle board for tips on mealplanning.

As for days out - look at the freebies board, there is a lot you can do for free or for very little money so you can ditch the shopping for fun, (books & DVDs you can borrow from the library), ditch the book spend, Cut down on the drinking out that is just ridiculous to spend that amount of money, family days out - again look at the freebies board.

Rather than saving for winter and summer holidays why not use that money to fling at your debt?

gonzo127

Beckyp1976 wrote: »

Hi

Hope someone can give me some ideas, just completed the budget planner on here and things are much worse than I thought. I am going to have to have a long hard look at my finances but am hoping someone on here can give me some pointers as well.

Thanks

Becky

b]Statement of Affairs and Personal Balance Sheet[/b]
Monthly Income Details
Income from Employment (after tax). . . . . . . . . . . . . . . . . . . . . . . 1,700.00
Income from Self Employment (before tax). . . . . . . . . . . . . . . . . . . . 0.00
State Pension . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Private Pension / Annuity Payout. . . . . . . . . . . . . . . . . . . . . . . . 0.00
Benefits (Inc. Child Benefit/Tax Credits & Income Support). . . . . . . . . . . 170.00
Income From Savings & Investments . . . . . . . . . . . . . . . . . . . . . . . 0.00
Gifts From Family / Friends . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Monthly Expense Details
In Your Home
Mobile Phone(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00
TV Licence. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.00
Internet. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00
Home Phone. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11.99
Cleaning Products/Cleaner . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.00
Garden Maintenance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33.33 - what is actually for?
Household Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33.33
Oil . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Electricity . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 216.67 - auch! have you swopped recently? are you in arrears? if you do swop go through something like quidco for cashback deals
Gas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Water . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Council Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 113.00 - paid over 10 monhts or 12?
Overdraft Cost. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00
Bank Account Fee. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Buildings & Contents Insurance. . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mortgage/Rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 475.00
Plumbing/Boiler Cover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mortgage Life Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mortgage Payment Protection . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Life Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00 - do you have any dependents who would need this money should you die? or is it critial illness cover? anyway seems expensive to me!
Food and Household Shopping . . . . . . . . . . . . . . . . . . . . . . . . . . 216.67 - how many people in the house? with planning budgetting and drop a brand you can usually get this for around £50-60 per person a month
Drinks for Home . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 65.00 - this will have to be dropped as thats over £15 a week on alcohol at home!
Motoring & Public Transport
Petrol/Diesel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 346.67 - this is a lot how far away do you work? can you get a smaller more economical car?
Parking . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43.33
Car Tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.67
Car Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00 - when is renewal £600 a year on car insureance seems a lot (how many cars aswell)
Car Maintenance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.00
Rail/Bus/Taxi . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Breakdown Cover . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Debt Repayments
Credit Card Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 200.00
Hire Purchase Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Personal Loan Repayments. . . . . . . . . . . . . . . . . . . . . . . . . . . . 120.00
Car Loan Repayments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Savings & Investments
Pension Payments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Buying Shares . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Investments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Mini Cash ISAs. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Lump Sum Saving . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Regular Saving. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
Family
Pet Food. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
School Trips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
School Meals. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Pocket Money. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Nappies/Baby Extras . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00
Laundry/Dry Cleaning. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.00
Children's Travel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Baby Sitting. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Childcare/Play Groups . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 150.00
Pet Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Travel Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Entertainment
Satellite/Digital TV. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Family Days Out . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00 this will need to be really cut down, you can doplenty of things which cost nothing!
Cinema/Theatre Trips. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Books/Music/Films/Computers . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
Big Days Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Shopping for Fun. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00 - well fun shopping will need to be cut out as well
Pet Costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Hobbies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
IT/Computing (eg Anti-virus etc). . . . . . . . . . . . . . . . . . . . . . . . 0.00
DVD Rental. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Drinking Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 108.33 - auch again £25 on alcohol out each month! (taken with drinking in you are looking at £40 a week on alcohol!)
Eating Out. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50.00 - same as the above this is not essential!
Clothes, Health & Beauty
Complimentary Therapies . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Optical Bills . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Haircuts. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00 - try looking at local colleges who do it cheaper since the students do the cutting
Dentistry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.99
Beauty Treatments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Healthcare Cashplans. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Dental Insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Private Medical Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Fitness/Sports/Gym. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Work Clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
New Children's Clothes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10.00
New Clothes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00 - this is a lot every month! i am lucky to spend £20-30 a year on clothes for me!
Education & Courses
University Tuition Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
School Fees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Your Courses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Big One Offs
Funeral Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Wedding Expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Sofa/Kitchen/TV . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Birthdays . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.67
Winter Holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00 - if in debt this really needs to be cut
Summer Holiday. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 41.67 - same as winter holidays
Christmas . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25.00
Odds & Sods
Newspapers & Magazines. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Tax & NI Provisions (self-employed only). . . . . . . . . . . . . . . . . . . . 0.00
Regular Charity Donations . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.00
Meals at work . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.00 - take packed lunchs
Smokes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21.67
Coffees/Sandwiches/Snacks . . . . . . . . . . . . . . . . . . . . . . . . . . . 24.33 - these are extras you cant afford

Total monthly income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,870.00

Total monthly expenses. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,803.31

[/font]

ok so i have made some comments unfortunatly this SOA does not give all details to allow us to help fully such as no idea on who lives in the house, ie how many adults how many kids, who works and how many cars. but the basics as you can well see is that you have a very extravgent life style compared to your income! as you are curently spending around £11000 a year more than you are bringing in

currently your annual spend on some of these things is
alcohol ~£2040
holidays ~£800
work lunchs and snacks ~£530
clothes ~£350
eating out ~£600
shopping for fun ~£600
family days out ~£600
Smokes ~£250

the basics are from the SOA you are going to have to have a massive life style change and i am not entirly sure even that will make the difference you need, with this in mind you do NEED to talk to one of the debt charities ASAP

Beckyp1976

Hi Thanks all for the very sensible comments. I can see far too much is being spent on enjoyment so will have to massively cut back on that. Few suggestions about trying a different way of checking costs so I will look into that.
Also I think I did overestimate the garden expenses, we grow our own so had to include seeds etc but prob nowhere near what I said.
As for electric yes it is very high and we can't seem to find out why. We are on a meter and have no central heating. We have a woodburner whicvh heats downstairs and oil filled radiators upstairs, we have contacted the electric company to see if they can explain.

There are 3 of us in the house, me, my partner and our one year old daughter.

The childcare is the cheapest locally and is just one day a week so my partner can go to college.

Thanks again for all your comments, I will have another look and repost.

BTW can anyone tell me how I can easily find questions I have asked and their answers I really struggle!!

dib-dab wrote: »

Hi Becky

You seem to be spending LOADS on eating, drinking, smoking, shopping and holidays so you should be able to make some quick changes which will mean that you won't be overspending each month.
Well done for coming on here - it won't be easy to change your lifestyle but you need to if you want to tackle your debt and overspending.
Try using the 'demotivator' tool on this website which might shock you into realising how much you are spending on non essentials.
I am not one of the people who thinks that you should cut out absolutely all spending on enjoying yourself (unless you really really have to which I know some people do) but yours can be drastically reduced.
Well done for coming on here for help and good luck with getting your finances sorted.

Beckyp1976

Tixy wrote: »

Hi Becky
You are right that is a massive overspend, so if any comments sound harsh this is why



It would help to know how many people in the household,
3 (1 is a baby)
how many cars?
Just one but still paying insurance for second car we got rid of temporarily, this will be refunded when I re-insure
what your total debts are (don't forget to include any overdrafts)
Overdraft total: £1800
I am not using the creedit cards and haven't for years, not sure of the APR's will check and post but the total debt is around £7000
and what the APRs are.
Is your debt actually increasing by £1000 per month? No my overdrafts are the same and as I say don't use the credit cards.

My other problem is that I have been contacted by a DCA claiming I owe £47000 for a second mortgage on a house I used to own withmy ex. When we split I transferred the property into his sole name taking nothing for myself totally unaware of the second mortgage in joint names. I went to a solicitor at the time and had to read out a disclaimer which I then signed relating to the transfer. I cannot find the solicitors they must have moved and the land registry has no record of the transfer so it appears I am liable. I have been to the CAB and they have said I would be liable. Clearly this is the last thing I need, this is probably the wrong place toi put this question but does anyone have any suggestions regarding this?

bondidreamer

Perhaps consider bankruptcy,

Loads of reasons why you should - however please consider the disadvantages.... Not to be taken lightly.

Raggs_2

If no transfer appears in the Land registry, does this mean you still have a stake in the property? Because by the sounds of it the ex didn't bother paying your stake in the mortgage, so I wouldn't be too worried about taking it out of your stake in the property (assuming you can)?