How to stop worrying?! (SOA included)

blondieliz

Hi,

I have been a DFW for sometime and have made changes like switching energy provider and will be switching home ins when it is up for renewal next month. I have managed to stick to budget with food shopping and a I do try hard. Yes, I have the odd slip, but I am getting better.

I have upped the payment to my egg loan to £200 so it will be gone by december and then I will start on the Credit card.

The thing is that I still get really fed up with it all on a daily basis. I am desperate for the debts to go and I am turning in to a right nag about money.

I have done my SOA again and used the snowball calulator to try and focus both hubby and I on getting the debt gone, but sometimes I feel like I am loosing the will!

I have been really realistic with the entertainment section and whilst I really want this lower, in all honesty, the hubby lacks more focus than me and to be quite frank, we enjoy seeing our mates (who are all stupidly well off).

I don't really know what I am looking for from this post, just feel the need to unload a little.

How do you all manage to keep youselves and your other halves focussed?

I can swear that NEVER EVER will I get in to debt again. The terrible thing is that sometimes I get so cross with Hubby as he us so rubbish with money and it is all down to me to sort (he won't even check his accounts as it upsets him, I have to do it). The big CC and loan is his and I wish he would just wake up and realise that I want us out of this mess!!

Sorry for the rant!

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 3
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1552
Partners monthly income after tax....... 1579
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 3131
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 470
Management charge (leasehold property).. 0
Council tax............................. 99
Electricity............................. 27
Gas..................................... 55
Oil..................................... 0
Water rates............................. 37
Telephone (land line)................... 0
Mobile phone............................ 100
TV Licence.............................. 10.14
Satellite/Cable TV...................... 47
Internet Services....................... 0
Groceries etc. ......................... 250
Clothing................................ 25
Petrol/diesel........................... 200
Road tax................................ 10
Car Insurance........................... 30
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 177
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 23
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 15
Entertainment........................... 200
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1795.14

Assets
Cash.................................... 2500
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 2000
Other assets............................ 0
Total Assets............................ 4500

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Egg Loan (ME)..................1100......200.......7
Egg Card (HIM).................6000......150.......18
Natwest Loan (HIM).............19000.....427.......10
Virgin Card....................2800......37........0
Total unsecured debts..........28900.....814.......-

Monthly Budget Summary
Total monthly income.................... 3,131
Expenses (including HP & secured debts). 1,795.14
Available for debt repayments........... 1,335.86
Monthly UNsecured debt repayments....... 814
Amount left after debt repayments....... 521.86
Personal Balance Sheet Summary
Total assets (things you own)........... 4,500
Total HP & Secured debt................. -0
Total Unsecured debt.................... -28,900
Net Assets.............................. -24,400
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

catmiaow

Well done on posting your SOA!

Could you not look at changing mobile phone tariff as it looks like you might not be on the right ones for your usage? Mine and my partners bills are £50 together and we have unlimited texts, high number of data usage and loads of free minutes.

Grocery bill can be lowered with meal planning, previously mentioned that I find shopping online and getting it delivered saves us a lot as I tend to impulse buy. For two of us and two cats(who need special food) our grocery bill is £60 pm and we eat well.

Are you not getting child benefit or working tax credit? Maybe check what your entitled too on https://www.entitledto.com

Have you checked to see if you can get a better deal on your gas/elec?

Fuel is really high, do you live quite away from your jobs or is it mainly for meeting friends?

Well entertainment is quite high, is there not a way you could lower this a bit by perhaps occasionally entertaining friends at home instead and asking them to bring a bottle?

blondieliz

Hi,

Thanks for your reply.

We aren't entitled to benefits. We have my husbands 2 step kids (from a prev relationship - very confussing), and his son (all the kids are from his ex) 1/2 the time, but he pays her £177 child maintenance for the youngest.

The fuel was a guesstimate - we car share daily, so it does take a little petrol up. We work about 40 mins away from home.

The mobiles are ridiculous. Damn orange contracts, but they are up in October, so we will be changing very soon.

I just get so demotivated sometimes. :-(

NorthernLas

BlondieLiz - Even though you are debt busting, you have to live as well. It sounds like you are angry at OH can you come to a compromise that is acceptable to both of you?

According to your SOA you have money left over, so you have access to this? Could you snowball some of this to the higher interest debts?

Hannah_10

I understand totally about feeling demoralised and demotivated. I find looking at it in terms of percent of startin total now cleared helps. It might only be a small amount I have paid, but it's more than 10%, lnowing that makes me feel a bit better as 10.72% sounds a lot better than the amount!

slummymummyof3

Do you need to have some life insurance????

neverdespairgirl

Get rid of cable TV and throw nearly £600 a year at your debts?

tallyhoh

What are you demotivated about exactly? You are paying your debts & spend a good bit on entertainment, it sounds good to me.

Marisco

Hi Blondie, it sounds like your annoyed with your oh for not being more concerned. I know it's easier said than done, but don't let it bother you. My oh doesn't bother himself either, he doesn't spend much or anything like that, but just leaves all money "things" to me! You seem to be keeping on top of things and have a "social" life, so I wouldn't get myself in knots about it. If I mention anything to do with money, my oh glazes over, so I don't bother now;) Just imagine the alternative (like my ex husband) who scrutinised every bank statement and bill with a tooth comb, and I had to justify every penny spent - hell on earth, believe me:eek:

SkintGypsy

If you look at my sig you will see I had the same amount of debt as you. At the beginning it seemed like a mountain to climb, and with a totally disinterested husband I took control of all the accounts and budgeting. Over the next two and a half years things got easier, and saving money and bargain hunting has become second nature. Now we don't even tend to notice how tight we are. Being debt free is very new to us, but we just bought me a new car (y reg but excellent value) and the cash spend of 2k has given both husband and I sleepless nights! He was very much of the 'i work hard so I deserve it' persuasion, but now he is incredibly smug about how little we can live off.

Things do change in time. Just keep using this site and keep a record of what you are paying off to keep you motivated. My spreadsheets are an addiction!

spursfan14

Well done for doing so well in paying off your debts. It might not seem like much now, but give it 18 months and you will notice a real difference. Best of luck!!