A year to 40 and a new life.

365days

I am a bit of a regular in these parts but fancied a new name to go with this mission.

Tomorrow I am 39. So I have a year to sort myself out before the big 40. I am adamant I will not be celebrating it in this house.

Finances are shocking, weight is horrific, friendships rather tainted, love life non exsistant. I want to move, but can't afford to. (Cheery isn't it)Seriously thinking about letting out my house so I can rent elsewhere. If anyone has done this would be grateful of any pro's and con's.

I changed jobs late last year and whilst I love my new role it is a third of the salary of my last career. I therefore need to think carefully about the balance of stressy job - good money, job I love - pants money.


I am a single mum with one child.

And today I have £4 of my overdraft left!! - Reality time for sure!


First plan for the mission is a car boot Sunday-If I can find the entrance fee!

Desperate_to_be_debt_free

Hi there 365days, hope you manage to find the car boot fee for the weekend, hopefully you'll be able to make a few pounds to keep you going. I'm currently in debt, will be 40 myself in about 18months and can only see myself being debt free if my numbers come up on the lottery.

Just over a year ago I gave up a job I hated that paid quite well for a job I love for less money. Saying that over the last few months I've worked overtime so haven't done too badly. I'm also a single parent with 2 children and struggling to pay off as much as I can.

I keep setting myself targets,and once I set them I'm on a mission until I complete them, I seem to be burning myself out constantly thinking about money but like you I'm determined to get this sorted.

Keep posting and keep us updated on your progress.

BEAT_THE_DEBT

HI could you ask man could you pay at the end? Maybe i ma too naive!x

365days

Household Information[/b]
Number of adults in household........... 1
Number of children in household......... 1
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 699
Partners monthly income after tax....... 0
Benefits................................ 440
Other income............................ 0
Total monthly income.................... 1139
Monthly Expense Details
Mortgage................................ 254 Interest only
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 86
Electricity............................. 64 Combined Gas and electric
Gas..................................... 0
Oil..................................... 0
Water rates............................. 38
Telephone (land line)................... 17 Including TV And Broadband...proud of that one!
Mobile phone............................ 20 July I can get out of the contract - Yipee
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 200
Clothing................................ 20- My son is an ever growing giant. I rarely buy stuff.
Petrol/diesel........................... 80 I should and I must and I will start claiming some of this back from work.
Road tax................................ 10
Car Insurance........................... 23
Car maintenance (including MOT)......... 25 (I don't put this away. Have I learnt nothing! And just been stung for a bill of £330)
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 20 Occasional childcare averages out as about this.
Other child related expenses............ 20 I give him £20 a month - Owe him £40 though...the idea is that he has his own money and I pay for nothing non essential.
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0 I have 4 pets....living on the edge here!
Buildings insurance..................... 15 Combined with contents.
Contents insurance...................... 0
Life assurance ......................... 0 When I die son can have the equity!
Other insurance......................... 0
Presents (birthday, christmas etc)...... 30
Haircuts................................ 10 Twice early cut and colour for me. Every other month for DS...Cut not colour!
Entertainment........................... 140 This is the shocking and probably underestimated amount I spend on fags. Shocking. I've tried...I will try again.
Holiday................................. 8 I have a £2 savings pot...probably averages out as this.
Emergency fund.......................... 10 Just been totally raided.........
Total monthly expenses.................. 902

Assets
Cash.................................... 0
House value (Gross)..................... 145000
Shares and bonds........................ 0
Car(s).................................. 1500
Other assets............................ 0
Total Assets............................ 146500

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 87000....(254)......0
Total secured & HP debts...... 87000.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Barclaycard....................4500......100.......6.9
Halifax credit card............2500......25........6.9
OD x2..........................1600......0.........19
Total unsecured debts..........8600......125.......-

Monthly Budget Summary
Total monthly income.................... 1,139
Expenses (including HP & secured debts). 902
Available for debt repayments........... 237
Monthly UNsecured debt repayments....... 125
Amount left after debt repayments....... -82
Personal Balance Sheet Summary
Total assets (things you own)........... 146,500
Total HP & Secured debt................. -87,000
Total Unsecured debt.................... -8,600
Net Assets.............................. 50,900

365days

I thought about that - paying at the end!

Ok just posted my SOA. What a shocker....ah...think i missed out food! Back to edit!

365days

I do apologise for all my exclamation marks too. V. Bad habit.

savingholmes

hi 365

Firstly congratulations on starting your journey to debt freedom. While your debts may seem scary to you, you are actually in a good position since you have equity in your house. So no need to beat yourself up. At the same time, given your relatively low monthly income, you are spending a significant proportion on debt repayment so I can understand that is stressful.

Your entertainment section seems high - but that could just be honesty LOL! If you don't have any money left then it may help you to keep a spending diary to see where your money is going...

Perhaps look at things like the Make £10 a day challenge it is on the DFW board- it has made a massive difference to me and many others. There are easy ways to make extra money if you have a computer and some spare time in the evenings...

Good luck

365days

I've now edited my SOA to it's full horrific glory.

Desperate_to_be_debt_free

Well done on doing the SOA. You really need to give up the fags That is really the only place you can cut down. Do you have anything you could
e-bay?

365days

Ok I have 1 fag left. I'm going to watch Edible Gardener on iplayer, smoke it, then that's it. I have some patches somewhere. I'll call it a little birthday present to myself.

I have got £4.76 cash on me, petrol in car, some food, need loo rolls, I'll make it to Sunday. Tuna pasta all the way!

I have tried ebay but I dont have a digital camera and find it all abit of a faff-ok=honesty needed here-everytime I go on ebay I spend more than I ever make.

365days

Happy Birthday to me.

Well the 'Edible Gardener' isn't on iplayer until 16th so had to make do with Beechwood Garden (or similar name) for my dose of garden drug!

Was awoken this morning by DS brandishing gifts. V. sweet. My favourite has to be the Masterchef cookbook. When I am rich I will invite all my friends to a proper snazzy 3 course meal! Until then they can pop round for a starter.

I'm not a huge birthday fan. Love other peoples but my own I tend to just celebrate quietly. I don't have any special plans for today, We sometimes go to the beach on 'special' days but no money for fuel.

So waffle over, Plan for today.

1. Ring up Halifax and cancel card. (I HATE halifax)
2. Continue not to smoke.
3. ring back all the people who were calling me from 8am this morning (Do they not know by now I lay in as long as I can when I get the chance!)
4. Gather goodies for car-boot.
5. Try and stay off the computer so I can get stuff done!!!
6. Think about how different I want next year to be.