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updated soa, need help folks!

hi guys,

i've decided to day i really need to get my driving license and get a car. i'm really going to struggle to get to the new work come winter time, no buses either. i'll post up my updated soa and see if you guys can help in anyway cause i'm totally scoobied!

outgoings

council tax - £78 (with single persons discount)
gym - £36 (but will be cancelled in three months after my probationary period)
bt rental - £16.50 (down to £11 in september, been overpaying a debit)
internet - £14.99 (phone calls thru tiscali, dont' use house phone often so anticipate very few extra charges)
electric - £30.50 (estimated from when ex was still here, will check regularly)
life assurance - £20
home insurance - £21.74
mortgage - £189.67
money to sis - £10 (this is a part of her share save scheme at work, guarenteed to at least get money paid in back, but this year made £700, just dont see it for another four!)
mobile - £19 (reduced as low as it can go for remaining term of contract ~1year)

foodwise i try for £40 a month. i try and spend as little as possible on other things, very few new clothes etc.

debts

student od - £750 0%
current acc od - £300 i do pay interest dunno % :confused: couple of pound a month

bos cc - £959.38 0% till march ~ £20/month just over min
skycard cc - £1501.74 0% till january ~ £40/month as above

total - £536.40

incomings

not started new job yet so no idea of wage after tax but before tax i work it out to be approx £880.75 (weekly wage x 52/12)

dunno what else i can do/say here now so i'm gonna shoot off and let you geneii (sp?) get to work. cheers very muchly :D
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Comments

  • calleyw
    calleyw Posts: 9,878 Forumite
    Part of the Furniture 1,000 Posts Name Dropper I've been Money Tipped!
    To work out your after tax wage look here

    http://www.wellwoodhoyle.com/ard/?ID=326&SID=11


    I assume that is £880 a month not a week. If it is a month. You are going to be tight running a car. As learning to drive is not cheap. Say £20 a lesson. So that is £80 a month and then after you have passed you are going to be spending that sort of money again on Tax, insurance and fuel.


    Yours


    Calley
    Hope for everything and expect nothing!!!

    Good enough is almost always good enough -Prof Barry Schwartz

    If it scares you, it might be a good thing to try -Seth Godin
  • Slayerx
    Slayerx Posts: 1,283 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Well the skycard runs out first so should be a priority to get paid off before interest stars been applied.

    The student overdraft is that for 1k ? Also how long is that going to be interest free?
    Official DFW Nerd Club - Member no. 065
  • PeachPickle
    PeachPickle Posts: 9,924 Forumite
    Hi lynsayjane

    this is a pretty accurate site for working out earnings after tax, it's usually very close for me
    DFW Nerd #104 I :heartpuls my Kitten :)and my hat :heartpuls
    OD Girls on Tour 08 - Barcelona - HUGE SUCCESS!
    OD Girls on Tour 09 - Dublin - November!!
    If you believe you can achieve innit!
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  • cattie1
    cattie1 Posts: 2,068 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    good luck for sitting driving test whenever it my be-it will be the best thing you ever do!!! apart from the expense of cars,mot,tax,petrol....etc......!!!
    official dfw nerd club member no 214
    Proud to be dealing with my debts!;)
    Why is a person that handles your money called a broker?!:confused:
  • lynsayjane
    lynsayjane Posts: 3,547 Forumite
    Part of the Furniture Combo Breaker Xmas Saver!
    yeah, 880 a month, so wish that was a week tho!

    i've been getting the current acc od payed off since i'm paying interest on that, every penny interest saved... i plan on getting another 0% cc in november/december to bt the skycard and am hoping to have received my bank charges by then to have paid a chunk of it off. there is no problems with my credit so i don't forsee any probs getting a new card.

    the student od has a balance of £750, dunno what you mean with the 1k??? it's interest free for until i pay it off, i've not been a student for a couple of years and told them a couple of times, but they still have my student account going :confused: last time i told the teller she told me not to bother about it, so long as money keeps going into the account they don't care :j

    will check out those sites for wages.
  • debbycatz
    debbycatz Posts: 209 Forumite
    Hi Lynsayjayne

    I came across a great site that calculates your salary deductions for you and it was spot on when I put in my details.

    It does need your tax code but you should be able to get this off your old payslips etc.

    Here goes:-

    http://www.listentotaxman.com/index.php?calc=1&year=2006&isMarried=1&age=0&add=0&taxcode=503L&period=1&ingr=12891&Submit=Calculate

    This doesn't include any pension contributions tho' so be aware of that when your working out what you'll have left

    Hope the link works
  • lynsayjane
    lynsayjane Posts: 3,547 Forumite
    Part of the Furniture Combo Breaker Xmas Saver!
    not bad! i was guessing about 750, they say £750.06 :j if only i didn't have anything else coming off i could clear my debt in a few months!

    ps, after my bday in october i should get about £50 a month in tax credits
  • debbycatz
    debbycatz Posts: 209 Forumite
    oops, crossed posts there with PeachPickle sorry :)

    I earn a little bit less than you lynsayjayne - only £840 and I'd like to learn to drive to but like Cattie says, it seems like a huge expense. i struggle to survive on my salary now and I don't have any debt (fortunately). If I tried to stretch to not only driving lessons, but car payments, tax, MOT and insurance to, I think my disposable income would = £0.00 :o

    I'm hoping to increase my salary by this time next year so maybe I will look at my situation then and hopefully afford a car by then.
  • lynsayjane
    lynsayjane Posts: 3,547 Forumite
    Part of the Furniture Combo Breaker Xmas Saver!
    well i start my new job on thurs and that income is based on that job, my old job gave me £330 every fortnight, so i'm looking forward to being more flush.

    today i had the thought of just bunging my debt onto the mortgage (i have plenty equity for it, would still have over 20k left) and using the extra form debt payments etc to save up. mum offered to start a driving fund for my bday, and i suppose i could just get money off dad etc for my bday too. i know running a car would be expensive, i'm not plannin on gettin a fancy bmw, except in my dreams, but i'm so dreading the thought of all that walking at five in the morning/eleven at night, plus lugging all the shopping home in the rain/snow etc.

    why does everything have to be so damned hard?
  • bonnie_2
    bonnie_2 Posts: 1,463 Forumite
    Have you tried claiming working tax credit, if you're over 25.
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