Sing Hallelujah! LBM + SOA

come_on_get_happy

Morning All; REDONE AS INCOME WAS ALMOST DOUBLE WHAT IT SHOULD HAVE BEEN!
Going to start my own DFW diary and am hoping to get as much help,advice and support form all of you
I am newly self employed, minimal wage atm.
Recently split with my partner of 10yrs, have moved away completely and am facing the debt that is the only bad thing left in my life.

here we go;

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 1
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 198
Benefits................................ 641.08
Other income............................ 114.4
Total monthly income.................... 953.48
Monthly Expense Details

Rent.................................... 147

[STRIKE]
Electricity............................. 50
Gas..................................... 50
[/STRIKE]
above now worked out and combined to £48 a month!= £52 saved
Water rates............................. 28
Telephone (land line)................... 13
Mobile phone............................ 15 (locked in for another 18mnths)
TV Licence.............................. 12
Internet Services....................... 8
Groceries etc. ......................... 200
Petrol/diesel........................... 66
Road tax................................ 18
Car Insurance........................... 20


Contents insurance...................... 11

Total monthly expenses..................[STRIKE] 638[/STRIKE] NOW 586



No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Natwest CC..0% BT..............1055........0% - march 11
natwest CC [EMAIL="original............1117.32...@.15.9"]original............1117.32.... 15.9[/EMAIL]%
Mother.........................700.......75
Loan...........................5000......197.......16.9%
Overdraft......................860.......150.......18.28%
Total unsecured debts..........8732.32

Monthly Budget Summary
Total monthly income.................... 953.48
Expenses (including HP & secured debts). [STRIKE]638[/STRIKE] 586
Available for debt repayments........... [STRIKE]315.48[/STRIKE] 367.48
Monthly UNsecured debt repayments....... [STRIKE]397[/STRIKE]372
Amount left after debt repayments....... 9.58

Personal Balance Sheet Summary

Total Unsecured debt.................... -8732.32
Net Assets.............................. -8732.32


[STRIKE]So it looks as though I am wasting £382 a month atm! Eeek ... will reign that in asap. [/STRIKE]

I wasn't --- I had somehow managed to massively over input my income! So onward!!!!

I look forward to getting rid of this big monkey on my back..... :A

come_on_get_happy

Ok, now I have fixed my initial error! lol (see trying to keep smiling) I can see I am over spending my £82(rounded up) a month!

So --- I am going to ask Mother if I can reduce monthly payments to her to £85 (she needs it as much as me)
reduce my grocery bill by £24 per month (hopefully more) thats £39 saved so, still falling short.
Will try to reduce petrol to £10 a week (could be tricky -- but doable after next week) thats another £22 === £61 towards shortfall
= Still £21 short -- So I need to save £4.77+ a week on top of all my current things.

So, Ebay account revisited (DONE -- listing anything I think will make a bit of money)

Feeling a little deflated after the excitemement of thinking I was ok earlier!

podperson

Hi and welcome to the boards
Do you get council tax paid for you? Gas and electric seem quite high, do you have any arrears on them? If not look at checking comparison sites to see if changing supplier could be cheaper. Are you on contract with the mobile? If not could you switch to payg, can get offers now for free mins and texts on this and since you have the landline shouldn't need that much usage?
Lots of tips to reduce grocery spending on the old style boards and can check the up your income board for help with things like ebaying, mystery shopping, surveys, which could help cover your shortfall.

come_on_get_happy

TY pp,
Yup CT is paid (so I left it out of the SOA) I am waiting for the first energy bills proper since moving in and switching to the lowest off the comparrison sites... so that should come down, but I am budgeting for that amount atm (hopefully it will halve!) I managed to get utility spending down to £18 a week in the old house (more rooms more occupants)

PinkPeach

Hello, remember to use a site like Topcashback if you do look to changing your energy supplier. Scottish Power often have cashback offers that you could put towards your debts. Good luck

come_on_get_happy

After tracking my spends etc over the past few days I have also decided to withdraw, in cash, my grocery and petrol money every Monday. then what ever is left the following Monday can be paid off the debts.