SOA (lightbulb moment!!)

Happytogetdebtfree

Ok I don't know where my angry messge came from I know you meant no harm but sometimes words put people off posting. I remember when I first did an soa I came away crying because someone said i would end up without home and needed a iva but neither have occurred I find it jsut a vulnerable time and harsh words can really do alot of damage. I feel terrible now for telling you off is one forgiven?

fatlad9

no wescot and bpo are the actual debts but they want full balance now.
kpr11 im not offended, i just posted an accurate soa - i know its stupidly crazy.
i'll redo one as i did it wrong...

2 months time i will free up 200 a month when loan finishes.

will ring o2 again. actual contracts are 50 per month - not iphones either. i can make mine 10 pound cheaper if i get rid of the internet and blackberry services.
the other 40 is non-inclusive minutes and me betting through betnow through phone bill - i've just banned myself on their website so cant use this any more.

again, thanks

KPR11

Happytogetdebtfree wrote: »

Ok I don't know where my angry messge came from I know you meant no harm but sometimes words put people off posting. I remember when I first did an soa I came away crying because someone said i would end up without home and needed a iva but neither have occurred I find it jsut a vulnerable time and harsh words can really do alot of damage. I feel terrible now for telling you off is one forgiven?

You need not feel terrible, you will notice I felt guilty before anyone said anything and reproached myself so don't worry about it!

Happytogetdebtfree

ah must be march madness rubbing of on us wee moneysavers

KPR11

fatlad9 wrote: »

no wescot and bpo are the actual debts but they want full balance now.
kpr11 im not offended, i just posted an accurate soa - i know its stupidly crazy.
i'll redo one as i did it wrong...

2 months time i will free up 200 a month when loan finishes.

will ring o2 again. actual contracts are 50 per month - not iphones either. i can make mine 10 pound cheaper if i get rid of the internet and blackberry services.
the other 40 is non-inclusive minutes and me betting through betnow through phone bill - i've just banned myself on their website so cant use this any more.

again, thanks

I think I will leave the SOA / budgeting to others as they are better qualified than I am but I think I am best qualified to say the following: I am really glad you have banned yourself from the website. Sometimes people think that a flutter or two might help ease situations, gambling is never going to get you out of a hole but bury you in an ever deeper hole. I thought the same and when I look back I am amazed at how much debt I got myself in to. :embarasse:(

slummymummyof3

Where do you do your food shopping? Try Aldi and Lidl - it might not be brands that you are familiar with but they are good quality, I promise. Make a shopping list (after you have meal planned) and stick to it.

Take packed lunches to work and do not buy coffees/snacks whilst out.

Keep a spending diary to check where all your money is going.

Do you have stuff you don't use anymore that you could ebay?

fatlad9

ok this time ive put more accurate income... and left the minimum payments largely blank.. as im going to obviously cut down on my outgoings, and then tackle the debts. my credit rating is poo poo anyway so im open to suggestions!
just a bit of background info - im 25 and wife is 22. loan was for wedding in vegas and honeymoon in cancun. at least i dont need to worry about paying for a wedding etc in future.
if i can get mobiles down to even 80 a month it'll be a big help.
once last loan payment goes in april it'll mean i'll be able to bang that off debt.

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.................... 0
Monthly Income Details
Monthly income after tax................ 1480
Partners monthly income after tax....... 950
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2430
Monthly Expense Details
Mortgage................................ 546
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 8
Council tax............................. 98
Electricity............................. 30
Gas..................................... 30
Oil..................................... 0
Water rates............................. 15
Telephone (land line)................... 15
Mobile phone............................ 140
TV Licence.............................. 12
Satellite/Cable TV...................... 35
Internet Services....................... 11
Groceries etc. ......................... 300
Clothing................................ 50
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 116
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 10
Buildings insurance..................... 20
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 50
Haircuts................................ 0
Entertainment........................... 150
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1636

Assets
Cash.................................... 0.47
House value (Gross)..................... 125000
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 125000.47

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 119000...(546)......4
Total secured & HP debts...... 119000....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
hsbc loan......................418.......209.......0
lloyds authorised OD...........650.......10........0
next 1.........................610.......0.........29
WESCOT.........................100.......0.........0
BPO COLLECTIONS................200.......0.........0
additions......................50........25........39
simplybe.......................450.......0.........29
very.co.uk.....................410.......0.........39
argos..........................480.......0.........29
next 2.........................490.......0.........29
Total unsecured debts..........3858......244.......-

Monthly Budget Summary
Total monthly income.................... 2,430
Expenses (including HP & secured debts). 1,636
Available for debt repayments........... 794
Monthly UNsecured debt repayments....... 244
Amount left after debt repayments....... 550
Personal Balance Sheet Summary
Total assets (things you own)........... 125,000.47
Total HP & Secured debt................. -119,000
Total Unsecured debt.................... -3,858
Net Assets.............................. 2,142.47

saxysarah

ahh there we are - saved urself a bit already ;-) happy days keep on chipping away

fatlad9

must add that 300 groceries includes wifes addiction to Mayfair cigs.
need to find someone that sells duty free ones really!

miggy

Hiya,
I would echo Tixy - have another go at renegotiating the phones - you might get someone more helpful or with the authority to make changes. Good luck!
Clothes - can you give it a month's break then be creative with charity shops/ebay? Do your jobs require smart clothes or can you dress down? Explore Primark (but don't go mad there!)
Entertainment is high - I noticed you've stopped the phone betting (Well done! :T). It just seems to me you need to think twice about entertainment if it's going to cost you. It needn't be like that forever, but it will make a big difference now.
Food - has anyone mentioned getting yourselves over to the Old Style board and trying out their recipes? There is some yummy stuff there, not necessarily demanding highly skilled cooks - and if you're like me, cooking can be very enjoyable as well as money saving (and trendy!).
Being broke is miserable but doing more with less is a challenge and I read somewhere on this forum where someone said they wouldn't want to go back to all the spending they used to do - they were proud of being able to make their money go further.
Anyway peeps here can be very supportive and resourceful and you're in the right place to get help. Wishing you all the very best