MY SOA - Where is it going???

niccatw

I'm trying a meal planner and using quidco to go through mysupermarket.com to get the cheapest possible supermarket delivery - hoping to keep myself out of the supermarkets and away from temptation that way too!

Cash withdrawals were the eye-opener I needed! I also now know when i'm wobbling as I tend t neglect the spending diary - so I come here for a kick up the *ss, update my DFW diary and catch up on every-one else's diary for some much neede inspiration .

I found it easier to begin with when I was making big cut backs. Now I always ask the right questions (do I need it, will I use it, can I afford it), but some-times I get a bit stroppy about it. But that's because budgeting still isn't second nature for me - as soon as it becomes that way, then the treats will be budgeted for, I'll know how many strops I have and what I do to cure them and budget accordingly :rotfl:.

Sorry, I don't mean to put you off. Really my point is some-time's it's hard. Let yourself be annoyed about this for a little bit and then let it go. On the plus side, I've discovered the joys of make do and mend - dying old tops I never wore (now have a fab purple Bench top instead of a blotchy pale blue one!) - and being a big kid again, trying (!) to do handstands with my friend's kids, playing in the swing park - the kind of things 32 year olds are supposed to have grown out of - but are actually a lot of fun - and a cheap way to get fit too!

LuckyBiscuit

Household Information
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 1
Monthly Income Details[/b]
Monthly income after tax................ 0
Partners monthly income after tax....... 1000.93
Benefits................................ 1116.27
Other income............................ 0
Total monthly income.................... 2117.2
Monthly Expense Details[/b]
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 985
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 60
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 60
Mobile phone............................ 0
TV Licence.............................. 12.12
Satellite/Cable TV...................... 18
Internet Services....................... 0
Groceries etc. ......................... 350
Clothing................................ 50
Petrol/diesel........................... 86.67
Road tax................................ 17.5
Car Insurance........................... 19.73
Car maintenance (including MOT)......... 25
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 19.13
Buildings insurance..................... 0
Contents insurance...................... 15.77
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 50
Haircuts................................ 0
Entertainment........................... 50
Holiday................................. 0
Emergency fund.......................... 50
Total monthly expenses.................. 1868.92
Assets
Cash.................................... 12.13
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 500
Other assets............................ 0
Total Assets............................ 512.13

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
fairfax........................4679.33...10........0
TBI............................6267.52...13........0
Credit solutions...............470.8.....1.........0
Total unsecured debts..........11417.65..24........-
Monthly Budget Summary
Total monthly income.................... 2,117.2
Expenses (including HP & secured debts). 1,868.92
Available for debt repayments........... 248.28
Monthly UNsecured debt repayments....... 24
Amount left after debt repayments....... 224.28
Personal Balance Sheet Summary
Total assets (things you own)........... 512.13
Total HP & Secured debt................. -0
Total Unsecured debt.................... -11,417.65
Net Assets.............................. -10,905.52
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.[/font]


Right so this is my new SOA what do you think, plan is to pay off Credit solutions first and then save up for the other 2, maybe f&f as these debts are over 10 yrs old.:eek:
I have added something for entertainment and emergency fund and am keeping the clothing at £50, plan is to put this away until needed by DS who is growing at a fast pace.

My questions as figures are monthly how do u manage it when all months arn;t the same(hope that makes sence) weeks wise, with the food it's easy £80 a week, petrol £20, which i intend to get out cash and when it's gone it's gone!!!
Have opened 2 online accounts for transfers of car tax,maintence,repairs,clothing,xmas/bday and emergency, How do you normally do this weekly/monthly as some of our benefits are weekly some are fortnightly.
I want to be completely clear from the ofset what im doing so i don't mess up..

Off to research meal plans etc....
Thanks for all ur help
TMVen XXX

LuckyBiscuit

niccatw wrote: »

I'm trying a meal planner and using quidco to go through mysupermarket.com to get the cheapest possible supermarket delivery - hoping to keep myself out of the supermarkets and away from temptation that way too!

Sorry, I don't mean to put you off. Really my point is some-time's it's hard. Let yourself be annoyed about this for a little bit and then let it go. On the plus side, I've discovered the joys of make do and mend - dying old tops I never wore (now have a fab purple Bench top instead of a blotchy pale blue one!) - and being a big kid again, trying (!) to do handstands with my friend's kids, playing in the swing park - the kind of things 32 year olds are supposed to have grown out of - but are actually a lot of fun - and a cheap way to get fit too!

Im off to research meal planning etc now....
i had my shopping delivered this week, as couldn't face the supermarket (had part of the ceiling fall on my head, long story.) anyway so if id gone through quido, through mysupermarket and then Mr T, could i have got cashback!!) im such a novice at this as you can tell, only just learned about quido.
and don't worry about putting me off i need a kick up the bum, these debts have been lingering for 10 yrs now, need to get rid!!
thanks for ur help
TMVen XXX

angelicmary85

TMVen wrote: »

My questions as figures are monthly how do u manage it when all months arn;t the same(hope that makes sence) weeks wise, with the food it's easy £80 a week, petrol £20, which i intend to get out cash and when it's gone it's gone!!!
Have opened 2 online accounts for transfers of car tax,maintence,repairs,clothing,xmas/bday and emergency, How do you normally do this weekly/monthly as some of our benefits are weekly some are fortnightly.
I want to be completely clear from the ofset what im doing so i don't mess up..

Hiya,

Well done for posting you SOA, things will improve now you're back in control but it will be a slow and often painful process so be prepared to be in for the long haul!!

When I first started meal planning I wasn't a member of MSE, we just had a really tight budget so what I done to get me started was to write down 7 different, but cheap, meals and times the stuff I needed for them by 4 e.g Sausages and chips - I'd buy 4 packs of sausages and a huge bag (or 2 if they were on offer!) of frozen chips which I'd share between 2 adults and 1 child, 4 times during a 4 week period. We get paid every 4 weeks so it's easier to plan from pay day to pay day!

My meals weren't very healthy to start with as I only ever seemed to buy frozen everything but as time has gone on, I can now buy things like quorn mince which is alot lower in fat than normal mince but a little more expensive.

Good Luck with your debt free journey!

Angelic x

LuckyBiscuit

The only 1 problem i have with the meal planning is that my husband is a chef, and will not allow processed foods in the house, so if we have burgers they are home made, we don't even have a microwave!!!
I have just costed our favourite meal which is bacon and mushroom rissotto and it is only £3.06 for the 4 of us bargin, im off to cost more!!!
I will take control and do this!!!!!!!!!!!!!!!!!!!!!!!

angelicmary85

TMVen wrote: »

The only 1 problem i have with the meal planning is that my husband is a chef, and will not allow processed foods in the house, so if we have burgers they are home made, we don't even have a microwave!!!
I have just costed our favourite meal which is bacon and mushroom rissotto and it is only £3.06 for the 4 of us bargin, im off to cost more!!!
I will take control and do this!!!!!!!!!!!!!!!!!!!!!!!

The lovely Old Stylers will help you out with cooking from scratch. They know every trick in the book...and more!

savingmummy

Sounds like your very focused which is fab!
Now you know what your spending the extra on you will find this settles and you will be left the said amount each month.

What are the benefits you get?
Benefits................................ 1116.27

just curious x

LuckyBiscuit

includes child benefit, Housing benefit and Tax credits/working tax credits

Pinky15

Well am def going to look my benefit payments DH earn 1450 per month I have 3 little ones and only get £50 a week have I missed something??
Good luck with your spending diary. I set myself a weekly budget draw that amount of cash out and then when it is gone it is gone - works for us!:)

LuckyBiscuit

Im thinking now ive mis calculated will go and check my amouts???;)