Miss Mental can see light at the end of the tunnel...

Kayleighpea

Hi there missmental :wave:

Just wanted to say well done on realising that you need to get things sorted and good luck! I will be subscribing to see how you get on and give you a kick up the backside occasionally if needs be! :rotfl:

missmental

Hi,

A very proactive day all round. In brief I have cleaned the house, changed beds, shopped at Aldi, made soup, took my sick friend some lunch, played netball (lost),been out for meal at piza express with hubby using tesco vouchers. Also very excited because the V Festival line up has been released & I'm going!!!! with my friends!!!! Can get 4 tickets tomorrow, think I'll use the 0% mbna card for purchases. Friends will pay me back asap.
:j

And I am still well within my weekly budget. Hoping tues is as kind to me.

missmental

It's a beautiful sunny day here, makes me feel sunny!!

Well, after waiting one hour for web page to load, finally got my v festival tickets!:j 3 one for me & 2 for my mates. Stuck them on the 0% mbna card. Have saved the money in my building society account already & friends will pay up at the end of the month. I will need to pay it off though. In the past I have always booked holidays , gigs for friends in my cc card but the failed to pay cc off when they gave me the money.

Postman delivered a nice surprise : £10 vouchers from monsoon because I'm such a valuable customer. Would normally be planning to go & spend them on a new dress by now. I think i'll save them for birthday pressie for someone.

Thinking of ordering my dollars now for my US trip in July. The rate seems be falling. Can get 1.53 if I pre order.

No spending today, apart from festival tickets. £15 left in kitty. for the first time in years, i am starting to feel like I am in control of my finances rather than them controlling me.

I

missmental

Hello,

Youngest son produced a £20 note from his school bag tonight and gave it me. It's a deposit for their limo on leaver's day from one of his friends. I had completely forgotten about it and totally surprised!:rotfl:

Still feeling happy and optimistic about sorting my debt out. I will do this.

Off to watch the footy...:T come on England..

missmental

Have just done my SOA. Think I've done it ok?

I haven't included my OH because we don't share money. Although the mortgage is in shared names he pays that & the council tax and I pay the bills. He also gives me £300 house keeping a month becuase I used to work part time and my wages were rubbish. He kept on giving it to me after I went full time. My DS is still at home, working full time at the moment but off to uni in September. I don't take any board off him, think it would be cruel.
Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 3
Number of children in household......... 1
Number of cars owned.................... we have 2 lease cars. payment direct from wages.
Monthly Income Details
Monthly income after tax................ 2000
Partners monthly income after tax....... 0
Benefits................................ 80 child benefit
Other income............................ 300 housekeeping
Total monthly income.................... 2380
Monthly Expense Details
Mortgage................................ 0 OH pays
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 0 OH pays
Electricity............................. 47
Gas..................................... 24
Oil..................................... 0
Water rates............................. 41.5
Telephone (land line)................... 95 inc internet & tv
Mobile phone............................ 54 get cashback
TV Licence.............................. 12.5
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 400
Clothing................................ 100
Petrol/diesel........................... 100
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 18.96 denplan, changing to paycare, cheaper & covers optician as well.
Pet insurance/vet bills................. 7
Buildings insurance..................... 46.29 combined
Contents insurance...................... 0
Life assurance ......................... 40
Other insurance......................... 21.65 loan ins
Presents (birthday, christmas etc)...... 30
Haircuts................................ 30
Entertainment........................... 40 sometimes a bit more!!
Holiday................................. 0 has been a lot more.
Emergency fund.......................... 0
union................................... 16.08
boiler ins.............................. 14.99
Total monthly expenses.................. 1138.97

Assets
Cash.................................... 1800
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 1800

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
loan sainsburys................21673.....327.......0
virgin cc......................1458......416.......15.9
mbna cc........................2350......50........0
barclaycard cc.................504.......7.........14.5
Total unsecured debts..........25985.....800.......-

Monthly Budget Summary
Total monthly income.................... 2,380
Expenses (including HP & secured debts). 1,138.97
Available for debt repayments........... 1,241.03
Monthly UNsecured debt repayments....... 800
Amount left after debt repayments....... 441.03
Personal Balance Sheet Summary
Total assets (things you own)........... 1,800
Total HP & Secured debt................. -0
Total Unsecured debt.................... -25,985
Net Assets.............................. -24,185
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

My analysis of the reason I have got into this awful mess is because, we have had 4 expensive holidays over the last few years and I do normally spend far too much on clothes etc. If I stick to my spending diary, I think I'll have this cracked. I have never budgeted in my life. I've never had any idea how much money I actually had to spend each month, I just guessed. I've always been overdrawn. It's just been normal for me to be like that. NO MORE!!!!

I really need to get this sorted ASAP, because I want to help DS #1 in sept when he's off to uni and then DS# in 2 years time as well. I do get overtime sometimes which I haven't included.

I feel much better now I've done that .

Just felt all nervous & edgy a bit ago, suddenly hit me that I may have been late with a barclaycard cc payment. I'm not sure why but I imagined I hadn't paid enough last week. I decided to just pay it off in full using some cash in an ISA. Just can't cope with worrying about debt anymore. Want it gone and soon!

I managed to stick within my weekly budget with £7.50 left. Not sure whether to keep it for next week or put in sealed tin for xmas! Feeling quite proud that I have managed without using a card all week!!

Still upbeat & positive about my debtfree future

david_hellier

Hi,

Looking at your SOA, I suggest you use any money over to pay off more on the Virgin card.

You're making great progress. After a few months it will be second nature!

ruby1968_2

:hello: HI miss Mental

I have just read you SOA I to was shocked when I did mine (well I say Mine it's joint really) doing my diary has really helped me on my journey just wish it had been around sooner, have met some great virtural people and they are brilliant with advise and support, you wont be alone on your jour journey.:wave: and I have subcribed of course.

Kayleighpea

Hi missmental, well done on getting your SOA up and starting with the budgeting. I'm sure someone will be along who can analyse your SOA properly and give you advice but I'm not at that stage of understanding really!

The only thing I will say, is have you had a look at the snowball calculator? It works out the best way for you to pay off your debts according to the interest rates and how much you can afford to pay off each month. It also gives you your debt free date which I have found has really motivated me into getting that date closer! In the last 6 weeks I have already cut my DFD down by 3 months

Here is the link if you want to check it out http://www.whatsthecost.com/snowball.aspx

missmental

David & ruby1968,

Thanks for your support. I am so into this at the moment. 2010 is my year to take resonsibility & sort things out. Time is catching up with me, I've been messing about like a teenager for far too long!
In june my son passed his driving test. I had paid for 9 months of lessons for him and he paid the rest himself. When he passed loads of people asked me if I was buying him a car! I felt uttely shocked, it hadn't even occurred to me that I should get him a car. And of course I had no funds to buy him any kind of decent car, I felt so gulity about it. Then, he's off to uni in Sept and I've made no provisions for this at all. Together myself & OH do earn good money now, but this is really only over the past 2 years or so, I suppose I just enjoyed it a bit too much. How I wish i'd have put away money in a savings plan for my boys uni. A big regret .

David, you're absolutely right, vigin cc will hopefully be paid off by june.
Ruby, you have a lovely name!! I will follow your diary also! MSE has taken over my life ~ I've ditched farmville on face book for MSE!!

Anyway, enough rambling. i'm off today, back at work tomorrow. the house is quiet, everyones out, hurray. Going to blast some music, Killers or Kasabian I think while i clean up a bit. Need to do food shop ~ aldi & morrisons now , days of m&s are well gone.
Going to try & book to have eyebrows threaded today, can't stand unruly brows. My £7.50 surlus from last week will cover that.
Mixed thoughts about having to withdraw some cash from ISA to pay into current account because I paid off horrible barclaycard cc last night. It does make sense I know to pay off debt rather than save at the moment.

Have a good day , bye for now. Heather.:j

missmental

Hello Kayleapea,

Thanks for you kind reply. Yes I found the snowball link and got one sorted:j. If I pay £800 off every month I shoud be debt free by nov 2012.
I'm hoping I can keep this up, a bit worried how I'll cope in sept when DS#1 goes to uni, think I'll be giving him ?£300 a month for rent. OH will probably help with this i hope!!! Then 2012 DS#2 will be going as well! But hopefully should only have 3 months of payments left, or maybe I'll have paid it off.

I wish I'd found this site years ago, instead of taking out cc after cc and loan after loan and going NOWHERE!!!! I am so mad with myself!!!:mad:

Bye, have a good day, Heather.