Roll on Christmas 2011

goodgirl80

Starting my Debt-Free Diary today, as a way of keeping myself on track...hope it works!

October 2010: Total debt: £6292.70 (Loan from friend = £4560, HP for car =£1732.70)
January 2011 total debt: £4576.65 (£3765/£901.65)
March 2011 total debt: £4054.75 (£3326.34/ £728.38)

Finally 'nasty' debts have gone! Three 'payday loans' and two credit cards paid off. Awaiting confirmation from Vanquis/ CapitalOne.

Monthly income: c£1195.00 +expenses

Car payment £173.27/ month
Loan payment £337.50/month (+whatever else I can get my hands on)
Rent/Household Bills/Petrol: £550.00/month (partner putting in the same)
Mobile Phone: c£10.00/month
Prescription: £7.40/month
Car Insurance: £22.16/month

Aiming to put aside in the region of £400.00 by December into online savings account = car tax/Christmas/ birthdays fund. This will be added to every month by minimum £34.80, and will be used periodically for the above expenses, to include MOT/ car maintenance issues.
New target for Christmas/ Car Tax/ Birthdays MOT/ repairs= £65.91/ month

Remainder of my income will mostly go into overpaying the debt.

This leaves me with c£20.00 per month.

Our household/rental bills are easily covered, I'm still constantly on the 'bargain hunt', trying to chase down those grocery costs, lurking on freecycle, and using the library instead of buying books/ DVDs.

MY SPREADSHEET SUGGESTS I SHOULD BE DEBT FREE IN OCTOBER NEXT YEAR :T POSSIBLY DECEMBER this will certainly involve more strictness with my 'disposable' money - giving up smoking, taking enough home-prepared lunch not to feel hungry, nights in (which I love)unless unavoidable...

I have other goals, not related to money, which while I'm obsessed with finances and budgeting have been ignored. Watch this space for updates on those challenges as well.

Anyway, thanks for reading, if you have, and I hope all our aims come to good in the coming year :):)

Back soon x

clippy_girl

hi, well done on clearing your other debts so far, bet that feeling is good

goodgirl80

My new SOA:

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................ 1195.67
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1195.67
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 173.2
Rent.................................... 297.5
Management charge (leasehold property).. 0
Council tax............................. 69
Electricity............................. 12.5
Gas..................................... 10
Oil..................................... 0
Water rates............................. 15
Telephone (land line)................... 12.5
Mobile phone............................ 10
TV Licence.............................. 12.5
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 60
Clothing................................ 1
Petrol/diesel........................... 60
Road tax................................ 10
Car Insurance........................... 14
Car maintenance (including MOT)......... 4.8
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 7.2
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 789.2

Assets
Cash.................................... 90
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 1000
Other assets............................ 0
Total Assets............................ 1090

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........0
Hire Purchase (HP) debt ...... 1732.7...(173.2)....0
Total secured & HP debts...... 1732.7....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Loan from friend............................4560......200.......0
Total unsecured debts..........4560......200.......-

Monthly Budget Summary
Total monthly income.................... 1,195.67
Expenses (including HP & secured debts). 789.2
Available for debt repayments........... 406.47
Monthly UNsecured debt repayments....... 200
Amount left after debt repayments....... 206.47
Personal Balance Sheet Summary
Total assets (things you own)........... 1,090
Total HP & Secured debt................. -1,732.7
Total Unsecured debt.................... -4,560
Net Assets.............................. -5,202.7
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

perkisc

Hi Goodgirl enjoyed reading your diary hope you acheive you October target :j Keep up the good work :T

goodgirl80

4756.65/10 = 475.66/ month.
min pay car: 173.27
min pay loan:200.00
= just over £100/month to find. I have this much available from my wages, but will be 'topping up' with whatever I can get my hands on - ebay, cashback, etc.
Have a new savings account I will filter the money into as and when I get it.

Piggies started their new year - well, piggy and sheep. One for coppers and one for silver/ quids. Will be emptied before Christmas as before.

6000 steps a day, as recorded by my pedometer.
100 calories burned, as recorded by my Wii fit.

goodgirl80

22 Feb:
Tesco: £13.91
Pets at Home: £3.72
Petrol (Tesco): £20.16

24 Feb:
Co-op
Fags: £2.59
Lunch: £2.83

25 Feb:
Co-op
Fags & Milk: £3.48

Savings Acc: £65.91
Bills Account: £550.00
OP Account: £137.50

goodgirl80

lost count laaaaaa...!

Oh well...

I have 0.06p to add to OP challenge.
One thing on ebay set to make £5.00
Top cash back should be payable by end March £30-something
oh, and expenses - 48 quid

0.06- interest
5.00 - ebay
30.00- cashback
50.00-expenses = another 85.06 to pay off debts!

goodgirl80

0.06
13.86

goodgirl80

Jan £200.00 £173.27 £373.27
Feb £226.00 £173.27 £399.27
Mar £348.66 £173.27 £521.93
Apr £337.50 £173.27 £510.77
May £337.50 £173.27 £510.77
Jun £337.50 £173.27 £510.77
Jul £337.50 £173.27 £510.77
Aug £475.47 £35.30 £510.77
Sept £510.77 £510.77
Oct £510.77 £510.77
Nov £479.33 £479.33
Dec£0.00

goodgirl80

New quarter, new goals!

12K on exercise bike.
100-200 cals burned on Wii Fit.
10,000 steps on pedometer.

goodgirl80

Right, payday tomorrow. Have got £4054.72 total left to pay.

£173.27 is standard payment to car finance.

Going to transfer £337.50 straight in to debt repayment account. Want to see if I can transfer my latest cashback before I make the payment. (should be available 31/03)

Pay rise going to be 1% I think so no better off in the budget after I've joined the pensions scheme. Still, any investment I can start now is good! Especially as I won't notice it going from my account.

So anyway, will be able to adjust the figures again at the start of April. Want to get down to 3.5k

Will be getting some expenses back in mid-April, some of that has to go into the bills account for all the petrol, etc. but I think I should be able to keep some aside for May's debt payment.

Spending my Council Tax money on gardening stuff next month. Completely forgot that it was over 10 months not 12, so very happy about that! Saving £276 a year! Might pop to B&Q lunchtime to do some window-shopping.

Anyway, doubt anyone is still reading this because its been a bit rubbish so far, but good luck everyone out there. 2011 is our year!!!

Just realised, I don't really like the title on my diary. I spend so much time waiting for the next payday that I'm not noticing my life slipping past!

Things I need to buy in April:

Nephew's birthday present
Mother's Day present
Make-up/ toiletries? - all done now