Soa

Tixy

andys15 wrote: »

I am a vivid user of DFW. I keep falling of the wagon. When I did my first SOA back in sep 08, I had about £49000 debt. I still have £40000 debt, even though I repay £1801 each month. Since sep 08, I have done the following: new car £7000 (loan)
Blinds £2000 (used wages)
Wife (private operation) £5500 (loan)
Dentist(me) £3500 (loan)
Front room decorating £2000 (credit card)
Gambling(stupid stupid) £2000 (credit card)(nearly fell of again last night, gladly didnt, would have won, but no excuse, I am feeling strained by this again)
Garden £2000 (credit card)
Florida £4500 (used wages)
Barbados(not been yet, bought flight tickets £2000(used wages)

Ah
Well at least you know what the problem is. Just think - look at that list - £30,500. Now how much was actually essential? really essential? I'm guessing maybe only wife's op, maybe you'd have needed to spend something on a car, lets say £2500 plus her op so £8000 max.
If you'd not spent on any of the others (or other items in their place) you would only have half the level of unsecured debt you currently have.

But you've got to really want to do it. Barbados - can you get a refund? how much would you lose of the £2k if you cancel.

Numpty_Monkey

andys15 wrote: »

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 2
Monthly Income Details
Monthly income after tax................ 3450
Partners monthly income after tax....... 1650
Benefits................................ 132.8
Other income............................ 0
Total monthly income.................... 5232.8
Monthly Expense Details
Mortgage................................ 1284
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 145
Electricity............................. 40 is it the best tarrif?
Gas..................................... 40 use Martins article to check Gas / Electric
Oil..................................... 0
Water rates............................. 39.7
Telephone (land line)................... 100:eek: Look at getting a package deal, free calls, sat Internetwill drop this
Mobile phone............................ 54 Are you on the best tarrifs, do you use the "free" things
TV Licence.............................. 11.95
Satellite/Cable TV...................... 0 guess thats in with the Phone
Internet Services....................... 0 as Sat
Groceries etc. ......................... 300 You could trim £50 of this, drop a brand, batch cooking,
Clothing................................ 0
Petrol/diesel........................... 100
Road tax................................ 40
Car Insurance........................... 50 Any Insurance use comparrison sites and cashback sites
Car maintenance (including MOT)......... 10
Car parking............................. 0 budget £10 here
Other travel............................ 0 never use Taxis, trains? budget £10 here
Childcare/nursery....................... 45
Other child related expenses............ 0 ?? I'm sure the kids will do things;)
Medical (prescriptions, dentist etc).... 0 budget £10 Here
Pet insurance/vet bills................. 10.5 as car
Buildings insurance..................... 0 ?
Contents insurance...................... 23.35 is building ins in with this? -- as car
Life assurance ......................... 0
Other insurance......................... 15.85 as car
Presents (birthday, christmas etc)...... 0 budget for this £15
Haircuts................................ 0 Budget for this £15
Entertainment........................... 30are you sure ?:beer:
Holiday................................. 0 budgetfor a few days out £10
Emergency fund.......................... 0 If you've got a house, kids, and cars (and a surplus) worth putting £10 in)
Total monthly expenses.................. 2339.35

Assets
Cash.................................... 300
House value (Gross)..................... 240000
Shares and bonds........................ 540
Car(s).................................. 6500
Other assets............................ 0
Total Assets............................ 247340

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 225000...(1284).....5.34
Total secured & HP debts...... 225000....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
dad............................16000.....1000......0
loan 1.........................8500......534.......8.1
loan 2.........................10500.....242.......8.1
tesco..........................952.......35........16.9 Hit first
virgin.........................6000......25........0 ??
Total unsecured debts..........41952.....1836......-

Monthly Budget Summary
Total monthly income.................... 5,232.8
Expenses (including HP & secured debts). 2,339.35
Available for debt repayments........... 2,893.45
Monthly UNsecured debt repayments....... 1,836
Amount left after debt repayments....... 1,057.45 do you really:o - you and OH need a spending diary, list everything you spend,and believe me it is a wake up call:A
Personal Balance Sheet Summary
Total assets (things you own)........... 247,340
Total HP & Secured debt................. -225,000
Total Unsecured debt.................... -41,952
Net Assets.............................. -19,612
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

Hi andy
I've left a few coments hope they're not to bad :A
I think the main problem is not budgeting for things:cool:,
The spending diary is a must :eek:,
and the intrest rate o the Virgin will help the clever ones:D

Don't worry we are here to help:A:A

andys15

Tixy wrote: »

Ah
Well at least you know what the problem is. Just think - look at that list - £30,500. Now how much was actually essential? really essential? I'm guessing maybe only wife's op, maybe you'd have needed to spend something on a car, lets say £2500 plus her op so £8000 max.
If you'd not spent on any of the others (or other items in their place) you would only have half the level of unsecured debt you currently have.

But you've got to really want to do it. Barbados - can you get a refund? how much would you lose of the £2k if you cancel.

yes you are correct. No refund on Barbados. Bookin accom this month out of my wages. in 15 months, dad and 1 loan repaid. Gives me £1500 a month extra. Get a 0% bt in August and then use the £1500 to repay cc. other loan will keep for 3 years.

mozzyc

andys15 wrote: »

I am a vivid user of DFW. I keep falling of the wagon. When I did my first SOA back in sep 08, I had about £49000 debt. I still have £40000 debt, even though I repay £1801 each month. Since sep 08, I have done the following: new car £7000 (loan)
Blinds £2000 (used wages)
Wife (private operation) £5500 (loan)
Dentist(me) £3500 (loan)
Front room decorating £2000 (credit card)
Gambling(stupid stupid) £2000 (credit card)(nearly fell of again last night, gladly didnt, would have won, but no excuse, I am feeling strained by this again)
Garden £2000 (credit card)
Florida £4500 (used wages)
Barbados(not been yet, bought flight tickets £2000(used wages)

Wow Andy. I've got to say, if you were really struggling, alot of the above wouldn't be there, or should i say, shouldn't be there. Seems like all you need is some will power to cut out the unnecessary spending. Start doing a budget and only spend what you can afford each month, otherwise put it off until you've saved for it. Especially the home repairs. You've got to stop relying on credit .

Numpty_Monkey

[QUOTE=andys15;29766213
Gambling(stupid stupid) £2000 (credit card)(nearly fell of again last night, gladly didnt, would have won, but no excuse, I am feeling strained by this again)
[/QUOTE]

:j:j you did win last night :T:Tand twofold,
You didn't lose
and you resisted the temptation:T:T:T:T:T

And I'm taking the piss

I win on the lottery every week:D I don't do it:cool::cool::cool:


I am a vivid user of DFW

I think that needs a change to AVIVID user of DFW:T:T

andys15

Numpty_Monkey wrote: »

:j:j you did win last night :T:Tand twofold,
You didn't lose
and you resisted the temptation:T:T:T:T:T:T



I win on the lottery every week:D I don't do it:cool::cool::cool:

It was a close thing. I had put the bet in the slip and just had to press confirm. I placed a bet to repay to the pound my tesco cc. I was gutted that it would have won. My gambler head now thinks I have lost over £900. Was looking for a bet to try and win the £900 back(even though I never lost a penny last night). Resisted again. Not had a bet since a drunken relaspe last march. Ladbrokes is now another company I have self excluded from. I cannot think of many more sites I could bet with. All lifetime exclusions.

andys15

This is how my brain works still. I would have gambled exactly £2222.22 on man city to win last night. It would have cleared my cc and left a balance of 21 pence. How could i risk £2222, when that would pay for so much, and cost so much in interest. And to win only £950(not a lot if you have risked over 2 grand)

the_cat

andys15 wrote: »

I am a vivid user of DFW. I keep falling of the wagon. When I did my first SOA back in sep 08, I had about £49000 debt. I still have £40000 debt, even though I repay £1801 each month. Since sep 08, I have done the following: new car £7000 (loan)
Blinds £2000 (used wages)
Wife (private operation) £5500 (loan)
Dentist(me) £3500 (loan)
Front room decorating £2000 (credit card)
Gambling(stupid stupid) £2000 (credit card)(nearly fell of again last night, gladly didnt, would have won, but no excuse, I am feeling strained by this again)
Garden £2000 (credit card)
Florida £4500 (used wages)
Barbados(not been yet, bought flight tickets £2000(used wages)

I don't mean to be rude Andy, but you cannot be an avid 'user' and be spending like this.
You may be an avid 'reader' but you need to put what you read into practise to be 'using' the DFW ethos

That said, very well done resisting the temptation to gamble:j

Numpty_Monkey

and if they lost , . I think here was/is, an ex gamblerers thread on DFW ???
I'll try to find it:A

Remember you won £2222.22 last night:j:T by not putting a bet on:cool::cool::D:D:D
a goal goes in off the defenders !!!! , you will have increased your debt

and give
http://www.gamblersanonymous.org.uk/
a call

GeorgeUK

Hi Andy - another one on the gambling wagon here.
Glad to see you're still holding on.

Have you thought about using gamblock or k9 to block access to the gambling websites? Must admit i've not done that, but have been thinking about it recently.

With that wage you are in an ideal situation to attack the debts, especially the higher APR ones. Might as well do it while the money's still there. You have admitted that there are a few things not on the SOA so a spending diary may be of use. That way you can see exactly how much you can throw at the high APR debts and if you budget for things like holidays, presents etc, there shouldn't be any nasty surprises that you won't be prepared for.

Can't remember seeing you on the gambling thread but feel free to pop in at any time. Link is in my signature.