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Another DFW signing up!

Anwen_2
Posts: 234 Forumite
As you can see from the sig, I have a fair bit of debt built up, not as bad as some here, but still pretty rotten. Basically been spending more than I have coming in and so on. Ho hum! I've set a budget, and I think I should be able to stick to it and reduce the debts reasonably quickly, but I will probably need moral support...
DFW stats:
Currently under review
Proud to be dealing with my debts
Currently under review
Proud to be dealing with my debts
0
Comments
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Moral support is definitely a big help
Maybe a reminder post of your budget might help remind you - and the experts here might even be able to knock a bit more off outgoings than you realised.
Good luck :TNo longer using this account for new posts from 20130 -
Welcome aboard!
Updated SoA please a la SS's excellent guide which is sticky at the top of the thread listing page.
Amos0 -
Hmm, well this is according to the SOA calculator at Fool.co.uk, I think it's fairly accurate (I've got my actual budget written in a book and I can't be bothered to go and find it...):
Monthly Income
Income Amount
Net Monthly Salary £ 1,066.00
Benefits £ 400.00
APPROX. MONTHLY INCOME £ 1,466.00
Set (?) Monthly Outgoings
Mortgage/Rent £ 338.00
Council Tax £ 75.00
Electricity £ 19.00
Mobile Phone £ 5.00 - U-fix 15, just extended my contract and brought the line rental from £15 to £5/month
TV Licence £ 10.00
Internet, phone line rental + calls, TV £ 35.00
Contents Insurance £ 11.00
Life Insurance £ 8.00
Other Travel £ 15.00
Pets Insurance/Vets Bills £ 9.00
Birthdays/Christmas £ 25.00
Holidays £ 25.00
After school/before school childcare £ 100.00
School contribution £ 60.00
Dinner money £ 35.00
Variable monthly outgoings
Groceries £ 200.00
Phone top-up £ 5.00
Pocket money for DD £ 20.00
Pocket money for me £ 20.00
End of month family treat £ 20.00
Money put aside for clothing and other non-monthly expenses £ 25.00
TOTAL MONTHLY OUTGOINGS £ 1150.00
NET MONTHLY SURPLUS £ 306.00
Monthly Debts
Debt Total Debt Min Payment Rate
Overdraft 1 £ 302.00 £ 0.00 11.90 %
Overdraft 2 £ 391.00 £ 0.00 7.90 %
Credit Card 1 £ 1,871.00 £ 54 0.00 % until Nov then 15.9%
Credit Card 2 £ 1,866.00 £ 45 0.00 % until Dec then 14.9%
Credit Card 3 £ 1,050.00 £ 34 0.00 % until Dec then 15.9%
TOTAL DEBT £ 5,480.00
The above is for me and my 6 year old DD, the school contribution is because she goes to a faith school, so there's a 'voluntary' (but I would rather pay things off slower and keep paying it) contribution to cover the costs of religious-related teaching. I realise I could probably cut back a bit more, but I don't think we'd be able to stick to it!!DFW stats:
Currently under review
Proud to be dealing with my debts0 -
good luck Anwen, i had my lightbulb moment earlier this year and it still scares me, (see signature for details), but i haven't looked back, at least i know things should never get any worse. Keep your chin up mate you can do it
Lem0
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