To remind myself how far I've come - my debt diary. - SOA added

Queen_B_3

WOW congratulations, you have done really well and an inspiration to us all. I love reading these stories they keep me on track with paying off my debts.

Sorry to hear about the miscarriage, the same happened to a friend of mine over the summer but she concieved again within a month so she's expecting again so I'm sure you'll be informing us all with happy news again soon

dinkylou

So very sorry to hear your sad news Chocaholic.

I hope that you are feeling a little less down today. It happened to a friend of mine recently, only they were much further along. Guess we all just have to believe that these things happen for a reason, somehow.

On the debt front, you are going great guns. You should feel very proud of your achievements.

Will keep reading to see how things are going. Good luck. x

chocaholic110

Well, my little challenge to myself is beginning to pay off. I have already raised enough to pay for DS's school trip and DD's gymnastic lessons for the next 10 weeks. It is also looking likely that will raise enough to completely pay off catalogue (and then I will get a little commission cheque back from that too) and possibly even have enough left over to take off a small amount from OH's credit card.
Have a lot of things finishing on ebay today and love logging on every hour or so and seeing the total creep up - what is it they say about little things amusing little minds?

chocaholic110

Dontcha just love ebay?

So far I have made £227.74 (though postage is still to come off that) and have more things still in the process of selling. Will be able to pay off catalogue, pay 10 weeks gymnastic fees and pay for DS's school trip (that I knew nothing about until the day before I had to pay - how do you budget for that?!?)
And I expect to have some extra to take off either loan or OH's credit card.

Plus I have a lovely empty...err I mean, minimalist home! No seriously, have only ebayed anything that has not been read, worn, watched, listened too in more than a year...in some cases several years... which begs the question. Why did I buy all this rubbish in the first place???

chocaholic110

Catalogue paid off and commission cheque requested. Once that has arrived will close the account. :j

Thought would have some spare money for cc though and so far checking bank balance and transactions due to come out this month I don't.
Must have made a mistake somewhere along the line with my calculations but not sure where

chocaholic110

Decided to finally have a go at a SOA. Sort of wish I had done one two months ago so I could compare as I have cut load off but anyway, maybe someone can suggest other ways to cut back?

Monthly Incomings:

My salary - £1,570 (Pension and £101 student loan already deducted)
Partners salary - £1600 (this varies as it depends upon hours worked and nights away but averages at £400 a week so counted a month as 4 weeks
Child Benefit - £116

Total - £3,286

Monthly Outgoings:

Mortgage - £340
Council Tax - £89
Gas / Electric £114 I know, this is really high - it has gone up from £89 over last few months. just used Uswitch to change companies who promise we will save £150 a year -we shall see!
TV License - £10.99
Sky £22.00 - on half payments till January
Phone - £47 - I know this is high too. OH works away and I phone him on mobile each night. Have only just changed companies and started getting itemised bill and nearly all the significant calls are to him. Have started this week getting him to phone me from phone box using 50p a night - cheaper than the £2-3 a night we were spending. However this has lasted two nights before I had to phone him - no phonebox or just too cold? Hmmm...
My mobile: £2
Weekly expenses - £360 - We take £90 a week out and this covers food, some petrol, OH's haircuts, OH's lottery, the odd pint for OH etc
Haircuts (mine and children) £20
Car Insurance- my car - £16.66 - though I got £100 back from Quidco so technically only £8.33 (Paid until Sept 2007)
Car Insurance - OH's car £21.25 Paid until July 2007. Didn't know about Quidco then, grr!
Petrol: £40
Car tax: £27.50
Car servicing: £13.75
Life Insurance £16
Water: 18.15
Car payment: £260 Runs until Sept 2008 0% interst
Union Fees: 14.50
OH's pension: £60
Bank account fees: 14.50 Keep debating getting rid but it may be worth it for travel insurance, breakdown cover, cheap overdraft - I don't know, someone might be able to tell me!
Charities: £8
Contact lenses: £15.50 There are probably cheaper schemes but I love my extended wear 30 day lenses then I don't have to put them in /take them out (urgh!) very often
Overdraft interest: £2
Broadband: £17
DD's school lunch: 31.00 (termtime only)
DS's school lunch: 40.00 (termtime only)
DD's breakfast club £8 (termtime only)
Dentist: £2 (£24 a year)
Christmas / Birthdays : £60
Clothes: £30
Children's entertainment / days out / etc £20
School clubs £10
School trips £5
Work lottery £4 Not stopping putting this on as you can guarantee they will win as soon as I leave syndicate!
Holidays: Decided against any until we are debt free, hopefully will only miss one year.
Nights out: And they are...?


Total: £1,759.80
I am sure I will have missed something so just shout!

DEBTS

Egg loan £8,661.64 7.7% £245 but paying £645 from December
Egg Card (OH) £2,675.83 5.9% £100 and anything else that can be spared
A+L loan: £4668 6.9% Paying £485 a month (non flexible)

Total debt repayments £1230 :eek:

Total outgoings: £2989.80

Which should technically leave £296.20 but as anyone who has read whole thread knows I have being throwing anything spare at debts including any extra from Ebay and Quidco. Though having said that, three months ago I would have bought CDs, books, kids' clothes, crap off ebay etc!!

OK, so can anyone spot anything I've missed??

meggie-lizzie

Just read your thread, well done on progress so far!!! I wish I could be as motivated, well perhaps one day.................... We don't have mega debt, just don't make the most as what we do have, but with inspiration, who knows? Good luck with this months targets.

chocaholic110

Thanks - I think the motivation comes from wanting things, for example we would like another baby and also a bigger house (ours is like a shoebox). Have finally realised will never get that with the level of debt we have / had. Also there is a new housing estate being planned not far from where we live and we would love to live there so kids can stay near their friends but we are now on a countdown to get rid of as much debt as we can before building starts...

bride2be2006

chocaholic110 wrote:

Thanks - I think the motivation comes from wanting things, for example we would like another baby and also a bigger house (ours is like a shoebox). Have finally realised will never get that with the level of debt we have / had. Also there is a new housing estate being planned not far from where we live and we would love to live there so kids can stay near their friends but we are now on a countdown to get rid of as much debt as we can before building starts...

Hi Chocaholic - congrats on your success so far! the main reason for me joining this site is we want a baby too and to buy our own house so I can totally relate to you, what sort of things have you been selling on ebay? I am going to have a clear out tomorrow and see what i can list to make some extra cash for christmas pressies

gallygirl

Bank account fees: 14.50 Keep debating getting rid but it may be worth it for travel insurance, breakdown cover, cheap overdraft - I don't know, someone might be able to tell me!
Charities: £8

Ok - you don't need travel insurance as you can't afford a holiday!!! look on links on home page re roadside cover, I've just paid £31.50 for all singing & dancing policy. So, unless cheap overdraft is worth 10 x £14.50 cancel it!!!

Sorry hon, charity begins at home. Cancel this - it's not costing £8 a month, it's costing that PLUS interest as that £8 isn't being paid towards debts. Keep a note of how many months you've missed and catch up only when you are debt free.

In general, you need to keep a diary & itemise everything you spend - your weekly sum of £90 has some petrol but you also have a separate amount for this? Would be a really good idea to write everything in diary BEFORE you spend it. Also put some stickers on your cards to shame you....:o

Good savings so far though!!!!!