finally opened those statements...

notes

hi all,

thanks to you all i have finally opened those bills and statements ive left at back of draw unopened:sad:
some of its interesting NOT ! :eek: But i now feel in control and will shortly post my SOA up here. If im careful will be able to pay off fairly soon - i could always afford my monthly payments but it depressed me. So i have cancelled several direct debits from gym to magazine subscriptions, now on pay as you go mobile saving 40 quid a month and shopping cost me 20 quid for the week tonight ! So hopefully with your support ill get there ! :beer:
Then i will be free without always having the debts on your shoulder.


how do i work out my debt free date....anyone have a spreadsheet ?

piglet6

Hi Notes

Can't offer you advice on the dfd spreadsheet (although I'm sure somebody will be along to post a link shortly!)...but wanted to say congratulations on opening those bills and statements (they're not nearly as scary once they're out of their envelopes!!;)), and well done on the cut backs you have already made - its a great start and I'm sure you'll be on top of things and beating that debt in no time!!:T

Piglet

Snaggles

Hello & welcome! Well done on taking the first step. Once you post your SOA I'm sure you will get loads of helpful suggestions. I was in your position too (possibly still am) in that I always managed to afford at least the minimum payments, but it IS depressing watching your salary disappear before you get chance to have the life that you're working so hard for! Here's to being debt-free!! PS the site that a lot of people use to work out their debt free date is here I think - I'm sure someone will correct me if I'm wrong lol!

jessicamb

Hi notes

Check out the snowballer here

notes

Thanks all. My DFD is about 12 months time ! But with ebay and hopefully xmas bonus maybe sooner BUT i must stick to this and im sure i will with all your help.

SOA.

Take home monthly income 1718



DIRECT DEBITS

British Telecom 15
Black horse bike finance 121
Sky Television 9
Water 20
Electric, just changed 25
Mortgage and insurance's etc 483
AOL Broadband 18
TV Licence 11
Critical Illness cover 11
Car Insurance direct line 32
Council Tax 56
MBNA see below
BA Amex see below
Lloyds TSB see below

TOTAL 801



KNOWN EXPENSES

Fuel for work 100
Shopping/food etc 100



DEBTS :eek:

BA Amex Credit card total 5215, per month 126, 4.9% life balance
lloyds tsb total 2346, per month 47 ,14%
mbna total 577 ,per month 12 ,unknown %



DONE SO FAR AND TO DO

Gym 25 cancelled :j
Mobile phone now payg was 40 ( used 10p credit in 4 days !):j
Cancelled 15 magazine subscription:j
Went to cancel 18 quid sky tv but they offered 6 months for 9 quid, :j
cashing in all 100 quids worth premium bonds:j
sold new phone on ebay for 50 quid:j
going to sell camera on ebay:j
going to change lloyds balance to something cheaper maybe mbna:j
quidco, changed electric supplier and others now balance apx 26:j
tonights shopping for a week, but made loads of meals to freeze, for more :j than a week is 20 pounds:j

Bank account is healthy at 1900. but with my past expenditure record would be negative by next payday!


Anything im missing ?

postingalwaysposting

notes wrote:

Anything im missing ?

pigsback?
amazon? (any books to sell?)

sorry no good with soa, but welcome to the dfw board
they are a nice bunch here and lets hope you debt free date will be sooner than you think :rolleyes:

CLAPTON

with your surplus you seem to be able to repay your debts within a year so how did you get nthe debts in the first place.
also how about spending on car tax/MOT/servicing, going out, clothes, any holidays, any presents/xmas expenses, work lunches/coffees, haircuts, magazine/newspapers, interests, sports, boys/girls toys, no house related costs (decorations/appliances), haircuts

notes

Thanks posting.

My DFD and everything is based upon not allowing anything for the unexpected and xmas etc. so i think 12 months may be more realistic with my bonus.

I AM SO HAPPY ! Even though ive got money to pay off theres a light t end of tunnel, which is very near, and im no longer afraid to open the statements as i know i am in control for the first time EVER ! Woo Hoo !:j

Ive only got into this over last few days and it is VERY addictive !

Once again, for all the hundreds ( or maybe thousands ) of posts ive read over last month or so - I THANK YOU ALL ! And ill buy you a beer ( when im debt free though of course !).

Anyone else out there not registered and scared to open statements - make a bold move like i did as they wont get better on their own still in envelope.

notes

CLAPTON wrote:

with your surplus you seem to be able to repay your debts within a year so how did you get nthe debts in the first place.
also how about spending on car tax/MOT/servicing, going out, clothes, any holidays, any presents/xmas expenses, work lunches/coffees, haircuts, magazine/newspapers, interests, sports, boys/girls toys, no house related costs (decorations/appliances), haircuts

It is VERY easy to get into debt even with a surplus. Also remember that until last few days i didnt have that much excess as with my recent cancellations etc i have just made 100 spare that i didnt have before and also lunch at work every day was another 100, and then maybe a drink or two sat night was another 60 etc etc it soon adds up !!!
Just general living, not caring about what its being spent on i suppose. It is very easy to do. This balance does include a new bathroom, and double glazing for my flat and a new washer / dryer which all was in dire need of .

Only 1 holiday a year, camping approx 300 quid so not excessive. Used to eat a lot of takeaways etc. Cut my own hair.

Two9A

Just a quick note on the Lloyds balance. I've not heard great things about MBNA on this board, so I'd steer clear (something to do with them NEVER leaving you alone, and always sending new offers your way).

Well done on getting a handle on the actual values; it always helps to write things down, and see it all laid out :cool: