I've had my lightbulb moment!

msmicawber

Hi ezmy,

Further to what Lynz has written, your phone bill seems very high to me - does it include line rental, calls and broadband, or is it a mobile bill (or all of the above!). Phones are often a good place to reduce spending as there are so many good deals out there.

tsharp

Why is the bank paying off one card at £700 and not debitting it from you a problem? Surely that means they have paid £700 of your debts off for you!

ezmy

I might have said it the wrong way round - Barclaycard have added the £700 to my balance, but the £700 hasn't come off my Natwest. So both cards are showing that £700. Does that make sense?

I don't pay for parking as I walk into work and my car is under warranty so I haven't had to pay for any repairs (as yet!)

My phone line rental is £35 per month, I get free minutes and 1000 free texts and I sometimes go over this by a small amount each month, hence the £40.

The £380 to my other half includes £235 (half the rent)
£50 to pay him back
£55 council tax each month
£25 electricity
£15 water

Although I haven't gone through all the bills to see if I can get them down yet, think that will be my first move. Also we are waiting for a £100 rebate from NPower as they overcharged us from our last flat!!

APR's:
Next: 24.9%
Natwest: 15.9%
Barclaycard: 6.9%



We both take our lunch to work every day but the supermarket shop is generally terrible, we usually run out of food halfway through the week and have to go again, which takes up a bit more money.

Phew! That's all I can think of for now. Thanks for replying, if there's any more information that would be helpful just let me know!

clarkylou

Just wanted to say good luck! It can be scary when you start looking at your spending closely and realise your outgoings are more than you imagined. Don't let it stress you to much and just take a step back and remember it's not for the rest of your life.

Well done for getting organised, you'll be suprised how quickly you can start clearing the debt. :hello:

lynzpower

hi there
is there no landline in the flat? Or are you using mobiles? No internet at home?

Also 50pcm on electric is a LOT, I would check with them you are not overpaying by giving them a reading.

With a bit of planning and reading of the oldstyle board you can get your cooking & cleaning products down to 100 a month ( which is what me & OH do comfortably) although there are plenty of couples spending even less than this :T and no its not beans on toast every night!!!

Good luck

ezmy

Hiya

No there is no landline in the flat, or internet. Mobile only. I rely on my work connection for the internet, which might get me in trouble - oops!!!

lazy&indebt

ezmy wrote:

Hiya

No there is no landline in the flat, or internet. Mobile only. I rely on my work connection for the internet, which might get me in trouble - oops!!!

I do this also! eek:

How is your credit rating? Can you shift at least the next card or all three once they sort out your balance tranfer either onto a 0% card of a low life of balance card? Check out Martin's article on the main site about the best buys and make sure you sign up the the 'tips email' if you haven't already!

When is your contract due for renewal? Mine is due next month and I rang O2 yesterday and said I wanted to move to 3 and they are giving me exactly the same contract for a further 12 months at £15 per month instead of £35!

lynzpower

I would start a spending diary for one, make sure you are looking where every penny goes. Any old notebook will do .

Second, what have you got to sell, clothes, textbooks from uni, pretty much anything will sell on ebay or at car boot etc. have a good clear out and pay the money to your debt.

How much do you owe your partner, maybe it would be good to put the tootal of debt intoo your sig? its quite motivating!