SOA/Budget - Advice Please!

Hourglass

Thanks frak that's good solid advice - I like it! The longer route is a better road with dual carriageways for the vast majority and then a B road for about 10 miles. The "shorter" route is dotted with small villages going from 60 to 30 then 60 then 40 etc plus an incline of 25%! So the longer route makes more sense. I will check my tyres too. Also using my Tesco Club card will help too.

Floss, I'm not too sure of my tax code however my take home pay came to about £80 less than I thought using this Good to be realistic though.

tawnyowls

Any way you could move the Next balance onto one of the other cards? Even the next highest is only just over half the interest payment. You then need to look at snowballing your debts - more knowledgeable people than me will supply the link to the appropriate thread very shortly, I'm sure.

vics_1982

Hi there,

I am on 18k a year and take home 1152.00 per month, a big con if you ask me asa i owe nothing and still they take early £350.00 of me, jus think, that could go towards debts ha ha.

I do 250-300 miles per week comuting to work and it costs me around 45 per week for fuel, another tip is to not use your aircon, don't know if true or not but stick to it whilst sweating away(nice)

Ohh to be debt free.

Good luck woth everything, and makesure you like the job before commiting yourself.

Vics
xx

Hourglass

Hi tawnyowls - Thanks for your excellent advice. I will be doing my budget tomorrow and snowballing seems like the best option. I am hoping to pay off Next this month. If not, then you are quite right, moving it will be a good option. I have searched around and found this info.

vics 1982 - Aircon? I wish! when I was looking at buying a car aircon was top of my wish list but then I remembered my Dad saying to me that aircon really drinks petrol so I got a car with a sunroof instead (which I don't use cos it messes up my hair!). If you don't mind, how much do you owe? Do you find it a struggle and how long do you have left?

The job seems pretty good and it comes with a relocation package as mentioned and a final salary pension scheme which is pretty rare these days. Also, although I was interviewed by 3 people it was more like a chat really with some banter! I'm hoping this is a good sign but at least by commuting I am not too committed as it were.

Thanks for your kind words. xx

Prudent

Welcome .-would you consider a flat share to reduce your rent? It needn't be for ever - just until you have paid off some debt.

Hourglass

Hi Prudent! Yes I was originally considering that and perhaps getting a second job to help. The relocation package my company is offering is very generous and I feel I should take advantage of it however I am not sure if I am shooting myself in the foot here. I have looked into it locally and on easyroommate.com and it seems about £300 per month will get me somwehere which is probably the same I will be spending on petrol! Havr to think about this one......

vics_1982

Hi Hourglass,

I think off he top of my head its about 14k.
I cope ok as i have become obsessed with this site and have turned into the meanest,tightest person living i'm sure.
Will let you know exaclty what i owe over the weekend as my spreadsheet is on works computer.

I live with partner who owns house and pays mortgage but i pay for everything else.

I also have a little business on the side which is really keeping me quite busy with bookkeeping/accountancy(i know not so good with my accounts ha ha)so all the money from that is going towards my debt.

My OH was shocked that i only spent £33.65 this week on our food and hasn't a clue that most of the food is own brand ha ha.

The thing i think is that yes i owe alot and am working flat out to get debts cleared but if i can get them cleared as quick as possible i will be minted when i don't have them to pay for. Wohoo. I also look at them as individual amounts when i want to spend money, i.e a new top, well thats £20 that could have reduced a credit card or been an overpayment on loan, so i don't get my new top and put it to the card. (god i'm so sad) It soon adds up!

OH has just had my aircon charged and when the guy run it to test it i nearly floored him for wasating so much petrol. He's so lucky not to have got a black eye.

Anyway will post my list soon(i have done it before but can't find it) so we can compare.

Take care and chin up, things are never as bad as they seem.
vics
xx

Hourglass

Thanks for your support vics 1982

It sounds to me like you are doing the right thing. You have to get your priorities right and it feels like that is what I have woken up to. It is hard doing this and it as caused me a few sleepless nights but I just think that at least I am doing something about it and we have a great support network here.

I am getting like that with stuff too! When I see "bargains" on the Boots site, I'm tempted to go out and get them as I used to. But now I stop to think if I really need it. Yes it's a bargain but only if you would use it! The same with the sales that are on at the moment.

Thanks for your support. I felt a bit nervous before posting as I knew it was a huge amount. A few thousand was caused when I split with my ex-boyf when we were living together (we only managed 6 weeks!). In that space he lost his job, accrued CSA debts and then went bankrupt. I supported him through this - the last straw was when he became violent and my friends told me to get out Oh well, you live and learn!

We're just looking out for ourselves doing this really

T xx

vics_1982

Hourglass wrote:

Thanks for your support vics 1982

It sounds to me like you are doing the right thing. You have to get your priorities right and it feels like that is what I have woken up to. It is hard doing this and it as caused me a few sleepless nights but I just think that at least I am doing something about it and we have a great support network here.

I am getting like that with stuff too! When I see "bargains" on the Boots site, I'm tempted to go out and get them as I used to. But now I stop to think if I really need it. Yes it's a bargain but only if you would use it! The same with the sales that are on at the moment.

Thanks for your support. I felt a bit nervous before posting as I knew it was a huge amount. A few thousand was caused when I split with my ex-boyf when we were living together (we only managed 6 weeks!). In that space he lost his job, accrued CSA debts and then went bankrupt. I supported him through this - the last straw was when he became violent and my friends told me to get out Oh well, you live and learn!

We're just looking out for ourselves doing this really

T xx

Your right, the support here is fantastic, your well out of it with your boyfriend though, sounds awful. Glad you have good friends!! I have by some miracle managed 3 years with my boyf, (although upon reading your thread mine seems quite an angel-don't tell him i said that ha ha).
Your right though, its only a bargain if you wanted it in the first place, I just don't go to town any more. I do all my banking etc on internet and can put cheques in the cash machine with Halifax so i avoid temptation altogether!

Also I have been working full days on Saturdays so i am ocuppied and earning money at the same time.
Once you get started you will find your sleepless nights disappear and are replaced with the urge to constantly count and save you money. I am sure i am doing everyones head in at the moment by babbling on he he.

Anyway, well done for finally taking action, i think it makes you feel better once you post your soa on here, it did me. Good luck to you.
You sound clued in. Will catch up with you a bit later as now off to work, wohoo...more money towards debts.

Vics
xx

vics_1982

Hourglass, my original debts post see below.(shocked again now ha ha)


Hi all,

I have been addicted to this site since last year and have only now just had the bottle to write down my debts/expenses all in one go. So here goes....please be gentle....

Marbles £750.02 APR 12.22%PA M/P £15.00 pm
Barclays £945.67 APR 13.9% PA M/P £24.00 pm
Morgan Stanley £995.36 APR 12.2% PA M/P £35.00 pm
MBNA £999.23 APR 13.7% PA M/P £40.75 pm
Capital One £852.44 APR 14.52% PA M/P £28.46 pm
Barclay Loan £6350 APR 4.7% 18months gone, 18 to go. £175.54 pm

So total of above C/C £4542.75, The loan I pay as my half of mortgage with OH as we brought a boat so i took out this loan.

My monthly income is £1152.82 after tax
Additional £100.00 other work
My Monthly outgoings are:

Sky £39.75
Mobile £25.00 (just reworked contract for decrease)
Car Insurance £ 25.20
Water £29.67
Horse Insurance £30.00
Bike Insurance £17.77 (have now cancelled as not using this summer)
Fuel £160.00 (to work and back)
If i have MOT's i will not over pay a credit card and use that money instead.
If i need repair my darling b/friend does it....Marv!!!!
My OH pays the following for us
Council tax
Landline (through his business)
Broadband (through his business)
Mortgage (i contribute through loan)
House insurance

Down points

I don't do a weekly monthly shop as there is only two of us so my bad habit is nipping over co-op (just over road from house) and spending everyday in there. I need to sort that first & foremost!!!

So any ideas anyone???

Its not overly bad, but want to clear it so it doesn't hang over us!!!

Many thanks

Vics