My SOA. Shocking (and long sorry!)

kerryhoney

Well, I have done it and am 100% embarassed and ashamed. It's a bit confusing but heregoes.....

MORTGAGE:
Two seperate loan amounts (second smaller one was for car)
£50,000 - 4.99% until 10/06 (half of my house owned by parents)
£13,000 - 5.49% until 31/7/08 (can pay up to 10% of this w/o charge p.a)
Repayments total £336 p.m

NORTHERN ROCK
Unsecured personal loan
£7,000 - 8.9%
Repayments £87 p.m

NATWEST OVERDRAFT
£1,795 - 16.4%
Not making repayments

PARENTS
SHOCKING total borrowed £16,747 0% interest (yay!)
Paid back £2,930 now - £13,817

TOTAL = £85,612 (including mortgage)

My monthly Outgoings:

Mortgage £335
Council Tax £66
Water £25 (they were undercharging for ages and now I have to pay loads)
Electric £15 Npower
Gas £15 Npower
Mobile Phone £20
BT £11
Talk Talk £5
Internet £17 (til March)
Car Ins £32
House Ins £17
Car Tax £10
Petrol £80
Food £250
Hair £35
Going out £70
Clothes £250 (although I realise this should be loads lower)
Loan NRock - £87
Parents £180
Extra towards car £85 (this is worth me doing as my dad has said for every £1,000 I pay towards the car he will pay an extra 50%. So if I have paid £2,000 by march 2007 he will give me £1k to put towards the £13,000 mortgate repayments. This means I have to save £85 a month as the repayments towards my mortgage increased by £80 and this can go towards the £2,000 target he set if this makes sense)

TOTAL MONTHLY = £1605

I get paid every 4 weeks = £1281 (average of £1334 per month) but I do normally get some overtime. I also spend so much on sandwiches/lunch/dinner at work and I have not put that in. I really should make sarnies but just don't seem to have the time.

If I take away the £50,000 mortgage, which is the legitimate bit cause it's my house then that means I owe £35,612. I just don't really see that that is ever ever going to get paid off. I have no life at the moment anyway cause I can't spend money and go to see friends but then I end up getting in a bad mood and going and just blowing a load on clothes. I know this is the biggest whiney thing in the world and there are loads of people who feel like this. What am i going to do?! I can't tell my parents about all this because they leant me the money on the premise that I would sort myself out. They helped me do a budget but I just didn't stick to it. I've let them down and I guess I've lied to them about some of it too. I just don't know what to do.

kerryhoney

Also forgot to say, I have asked Natwest to tell me how much i have paid in charges in the past few years (a fair bit I imagine as I had gone over my O/D a few times) and they said I have to pay £5.00 to find out and write to my branch manager. nightmare!

lynzpower

fivers, not bad, everyone else pays a tenner under the Data Protection Act

missk_ensington

What do you do to your hair for it to cost £35 a month? Can you use a Mobile Hairdresser? I've reduced my highlights/blow dry from £72 to £40 by using a Mobile Hairdresser.

lynzpower

is that 250 on food just for you alone?

kerryhoney

The food is just for me alone..... I do agree this could be changed, but live on my own and find it difficult for cooking etc so end up eating crap which is expensive!
As for the hair, I could get a mobile hairdresser, it's just finding one that I trust and doesn't make me look like worzel. I had a bad experience where one turned my hair bright ginger. Niiiiice!

david_hellier

Not looking too bad. According to my calculations you have £145.44 per week to spend on anything you like INCLUDING food. So every Monday write this amount in a book and deduuct what you spend on all those luxuries including food. Make sure you've got some left on Sunday and carry it forward to the next week. Don't be tempted to get all the cash out on Monday; you'll only spend it. If you do this your od will also go down by £20 pw.

Be good now!

Calcs:



income weekly monthly
self 320.25
partner







total 320.25 0.00
0.00 divided by 4.33

320.25 total weekly income

spend weekly monthly
rent/mortgage 335.00
council tax 66.00
elec 15.00
gas 15.00
water 25.00
secured loans
TV licence
fines
mobile 20.00
bt 11.00
talk talk 5.00
internet 17.00
car ins 32.00
house ins 17.00
car tax 12.50
petrol 80.00
loan 87.00
od reduction 20.00

david_hellier

Not looking too bad. According to my calculations you have £145.44 per week to spend on anything you like INCLUDING food. So every Monday write this amount in a book and deduuct what you spend on all those luxuries including food. Make sure you've got some left on Sunday and carry it forward to the next week. Don't be tempted to get all the cash out on Monday; you'll only spend it. If you do this your od will also go down by £20 pw.


income weekly monthly
self 320.25
partner







total 320.25 0.00
0.00 divided by 4.33

320.25 total weekly income

spend weekly monthly
rent/mortgage 335.00
council tax 66.00
elec 15.00
gas 15.00
water 25.00
secured loans
TV licence
fines
mobile 20.00
bt 11.00
talk talk 5.00
internet 17.00
car ins 32.00
house ins 17.00
car tax 12.50
petrol 80.00
loan 87.00
od reduction 20.00












total 0.00 757.50
174.81 divided by 4.33

174.81 total weekly spend

Start= income - spend = 145.44 per week



income weekly monthly
self 320.25
partner







total 320.25 0.00
0.00 divided by 4.33

320.25 total weekly income

spend weekly monthly
rent/mortgage 335.00
council tax 66.00
elec 15.00
gas 15.00
water 25.00
secured loans
TV licence
fines
mobile 20.00
bt 11.00
talk talk 5.00
internet 17.00
car ins 32.00
house ins 17.00
car tax 12.50
petrol 80.00
loan 87.00
od reduction 20.00












total 0.00 757.50
174.81 divided by 4.33

174.81 total weekly spend

Start= income - spend = 145.44 per week
Be good now!

Calcs:



income weekly monthly
self 320.25
partner







total 320.25 0.00
0.00 divided by 4.33

320.25 total weekly income

spend weekly monthly
rent/mortgage 335.00
council tax 66.00
elec 15.00
gas 15.00
water 25.00
secured loans
TV licence
fines
mobile 20.00
bt 11.00
talk talk 5.00
internet 17.00
car ins 32.00
house ins 17.00
car tax 12.50
petrol 80.00
loan 87.00
od reduction 20.00

missk_ensington

I had a ginger experience last week with a Mobile Hairdresser, however Ive since asked my regular hairdresser what she uses with is a 6/0 with 6% etc etc, if you have that info they can't go too wrong.

Alterntatively, do what I did and ask your salon hairdressers on the QT for her phone number if she wants to do it at home for cash. I'm sure she'd appreciate the extra money, especially if she's quite young.

As for food- I think Morrisons are good if you're living alone as they do single pieces of fish and meat, a piece of small salmon can sometimes be as cheap as 88p! They also have pre-packed veg in different price sizes which I like, I hate it when all the grapes come ni same sized punnets all costing £1.49!

wizard3891

kerryhoney wrote:

Well, I have done it and am 100% embarassed and ashamed. It's a bit confusing but heregoes.....

MORTGAGE:
Two seperate loan amounts (second smaller one was for car)
£50,000 - 4.99% until 10/06 (half of my house owned by parents)
£13,000 - 5.49% until 31/7/08 (can pay up to 10% of this w/o charge p.a)
Repayments total £336 p.m

NORTHERN ROCK
Unsecured personal loan
£7,000 - 8.9%
Repayments £87 p.m

NATWEST OVERDRAFT
£1,795 - 16.4%
Not making repayments

PARENTS
SHOCKING total borrowed £16,747 0% interest (yay!)
Paid back £2,930 now - £13,817

TOTAL = £85,612 (including mortgage)

My monthly Outgoings:

Mortgage £335
Council Tax £66
Water £25 (they were undercharging for ages and now I have to pay loads)
Electric £15 Npower
Gas £15 Npower
Mobile Phone £20
BT £11
Talk Talk £5
Internet £17 (til March)
Car Ins £32
House Ins £17
Car Tax £10
Petrol £80 - could you not lower this? bus etc[/B]
Food £250 - me and gf spend £140 a month for us both and we dont buy crap food either so why is this so high?
Hair £35 - Why?, my gf hair looks beautiful and spends much less
Going out £70 -
Clothes £250 (although I realise this should be loads lower) - totally unessesary when in debt!!!!
Loan NRock - £87
Parents £180
Extra towards car £85 (this is worth me doing as my dad has said for every £1,000 I pay towards the car he will pay an extra 50%. So if I have paid £2,000 by march 2007 he will give me £1k to put towards the £13,000 mortgate repayments. This means I have to save £85 a month as the repayments towards my mortgage increased by £80 and this can go towards the £2,000 target he set if this makes sense)

TOTAL MONTHLY = £1605

I get paid every 4 weeks = £1281 (average of £1334 per month) but I do normally get some overtime. I also spend so much on sandwiches/lunch/dinner at work and I have not put that in. I really should make sarnies but just don't seem to have the time.

If I take away the £50,000 mortgage, which is the legitimate bit cause it's my house then that means I owe £35,612. I just don't really see that that is ever ever going to get paid off. I have no life at the moment anyway cause I can't spend money and go to see friends but then I end up getting in a bad mood and going and just blowing a load on clothes. I know this is the biggest whiney thing in the world and there are loads of people who feel like this. What am i going to do?! I can't tell my parents about all this because they leant me the money on the premise that I would sort myself out. They helped me do a budget but I just didn't stick to it. I've let them down and I guess I've lied to them about some of it too. I just don't know what to do.

just a few bits above which stand out the most.

Jolinar

My first thought was that your gas and elec look low, are your meter readings up to date? If not I'd get that sorted out asap with rising fuel costs the last thing you want is a huge hike in your costs and a massive bill from npower.

There's no need to be ashamed many of us are/have been in the same boat, there is way out you just need to be prepared to cut back and not spend as you would wish (after all that's how we got in the first place isn't it?)

Good luck you can do this.