Anyone got a paddle????

Crap_with_money.com

Back with my tail well and truly between my legs! Feeling very upset and fed up about all things money related! It's beginning to feel like there will just never be an end to this sorry bloody spiral of debt, I'll never be free of it, never afford to get married and never manage to do all of the nice things all of my friends take for granted!

I'm fed up looking like an absolute tramp all the time because I can't afford to get my hair done or buy any new clothes (realised my favourite, very overworn cardi had a god damn hole in it today - only after I'd been out with my ultra stylish friend for the day!).

I'm fed up, fed up, fed up!!!!!

Aaaaarrrrrrrrrggggggghhhhhhhh - rant over!!

Crap_with_money.com

PS apologies to anyone who's reading for the wealth of negativity pouring out of me tonight, I'm sat at home alone and feeling very sorry for myself! Doesn't matter how many ways I do my sums, it just doesn't seem to add up!

Crap_with_money.com

OK - so I cried a river of tears last night about our dire situation! Felt a bit more positive when I woke up this morning, I've spent the morning going through our finances, and then we spoke to our bank to consider the dreaded "C" - doesn't look like it's an option though!

Can anyone tell me where I can find the link for an SOA? I've done everything out on my own budget sheet, but I'd like to post it to see if I can start working through everything!

xx

Crap_with_money.com

Well, that was an absolute chore! I finally found the SOA function though! So here goes:

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 0
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 1275.46
Partners monthly income after tax....... 1500
Benefits................................ 0
Other income............................ 650 (OH owns a flat which he rents out)
Total monthly income.................... 3425.46

Monthly Expense Details
Mortgage................................ 348
Secured/HP loan repayments.............. 0
Rent.................................... 550
Management charge (leasehold property).. 31.44
Council tax............................. 176 (will drop to £130 in new financial year)
Electricity............................. 15
Gas..................................... 25
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 13
Mobile phone............................ 70 (we now each have a £35/month contract we're stuck in, my bill recently has been much higher (£60 and £90), so I've just increased from a £20/month contract to increase my bundle and hopefully lower my bill)
TV Licence.............................. 12.75
Satellite/Cable TV...................... 0
Internet Services....................... 17 (actually free for the next 2 months as just subscribed but this is what it will be)
Groceries etc. ......................... 150
Clothing................................ 0
Petrol/diesel........................... 200
Road tax................................ 42.5 (due in Nov, only started budgetting last month, so this will drop to £14.75 a month from then)
Car Insurance........................... 38.89
Car maintenance (including MOT)......... 68
Car parking............................. 0
Other travel............................ 40
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 10 (OH's contacts)
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0 (Paid annually which was £70, haven't yet accounted for this anywhere as a monthly payment)
Life assurance ......................... 0
Other insurance......................... 17.29 (landlords insurance)
Presents (birthday, christmas etc)...... 0 (birthdays etc comes out of personal spend allowance, and christmas - well who knows!!!! )
Haircuts................................ 0 (As per previous post, I look like the proverbial tramp, as can't afford such luxuries!)
Entertainment........................... 346 (£150 each plus gym membership)
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 2170.87

Assets
Cash.................................... 0
House value (Gross)..................... 115000
Shares and bonds........................ 0
Car(s).................................. 2000
Other assets............................ 0
Total Assets............................ 117000

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 90000....(348)......2.5 (not sure on interest, but mortgage advisor told us to stay put)
Total secured & HP debts...... 90000.....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Natwest Overdraft..............3510.1....43........?
First Direct CC................1301......50........0 (0% til Oct '11)
Natwest Loan...................6840.17...188.......12
Argos..........................341.40.......0.........0 (0% and no payment til Jan)
Loans Direct Loan..............4710.2....118.8.....7.2
First Direct Overdraf..........500.......3.........?
MBNA CC........................1122.69...25........24.9(arranged today to transfer this to below Natwest CC that was sitting dormant, they've given us 0% for 6 months)
Natwest CC.....................0.........0.........0
Total unsecured debts..........18314.16..427.8.....-

Monthly Budget Summary
Total monthly income.................... 3,425.46
Expenses (including HP & secured debts). 2,170.87
Available for debt repayments........... 1,254.59
Monthly UNsecured debt repayments....... 427.8
Amount left after debt repayments....... 826.79
Personal Balance Sheet Summary
Total assets (things you own)........... 117,000
Total HP & Secured debt................. -90,000
Total Unsecured debt.................... -18,414.16
Net Assets.............................. 8,685.84

Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.[/font]

Crap_with_money.com

If there are any lurkers - please feel free to chip in any advice or hints or tips!

I know on the surface it looks as though we actually have a fair bit spare to throw at our debts in the month - but it just never seems to work out that way! This is the first month really that I've had a full salary, which has freed up a fair bit of cash, but there still always seems to be something round the corner waiting to eat our cash up! (Like this month we got a £400 energy bill through from OH's old flat, as well as needing a new part for the exhaust, and the rented flat also has a damaged floor in the living room, which means lifting the wooden floor that's there and getting a replacement for it - still waiting on prices through for that!)

xx

Emma1988

Hey! Sorry i havent been on here for a while! BIG HUGS to you! You do have a nice amount coming in a month, but as you said you werent earnig that for a long time, so itll take a while for it to all settle down to normal monthly expenses etc. Your repaying alot, and its a long process, dont be so hard on yourself. Your getting there hun! Wish i could give you some advice, but as my income is 787(514 from student loan and rest from part time job) and my OH (just taken pay cut to different job with training) is about the same per month, the only thing i can say is buy cheap cheap cheap! haha, see told you i had no good advice, just support. On the hole in your cardigan, mines the same but i refuse to throw it out! Think we need to learn to sew!