TizerCats Fiscal Adventures

TizerCat

So I have finally taken the plunge and started a diary. Took me 2 days to think of a title! Now its done.

To introduce myself, I am 44 years old and have been a single parent of two children for the last 18 of them. DS is now 25 and DD is 20, both still living at home and at this moment in time we are all working. Household also includes 1 cat who resembles bagpuss, a duvet dog (Jack Russell) and 3 ponies. (thought I would make that smaller so no one would notice).:o

Debts like many others crept up over time, made worse by a series of misfortunes, illness, redundency etc and more often than not just pain bad judgement on my part.

About 5 years ago I nearly lost everything when I could no longer pay off the mortgage and cards with yet more cards and the house was nearly reposessed. After some struggle to get my head out of the sand I managed to keep the house and pay the arrears on the mortgage/rent (shared ownership so pay both), the council tax, fuel bills etc. Also got all my creditors to accept token payments and stop adding interest to the money I owed.

But since then have done nothing to pay anthing off. When I have had extra money I have just spent it. Probably as no one is chasing me! To the point that in the summer I bought a 3rd horse :eek: and have now got behind with the Mortgage/rent again. I guess this is my LBM (sorry can't find the smiley).

So this diary is make me do something about the debts. This diary is for me, to remind me of why I am doing things, so I can look back on how well I've done and hopefully achieve my goal.

The goal....is to clear my debts by the time I'm retired. Thats 20 years and about £2k a year. Not as ambitious as most on here but baby steps ....i know what i'm like i will give up before I start if the mountain looks too hard to climb!

Next post the SOA. This took alot longer than the title...

TizerCat

Time for the SOA....

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 3
Number of children in household.........
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1413.53
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 500
Total monthly income.................... 1913.53
Monthly Expense Details
Mortgage................................ 313.5
Secured/HP loan repayments.............. 0
Rent.................................... 295.33
Management charge (leasehold property).. 0
Council tax............................. 128
Electricity............................. 43
Gas..................................... 43
Oil..................................... 0
Water rates............................. 54.1
Telephone (land line)................... 30
Mobile phone............................ 10
TV Licence.............................. 11.91
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 120
Clothing................................ 20
Petrol/diesel........................... 80
Road tax................................ 125
Car Insurance........................... 16.79
Car maintenance (including MOT)......... 50
Car parking............................. 9
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 5
Pet insurance/vet bills................. 15
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 27.06
Presents (birthday, christmas etc)...... 30
Haircuts................................ 9
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 50
Wormers, dentist, saddler............... 20
Hay..................................... 60
additional vet care for in foal mare.... 30
Farrier................................. 55
Horse feed ............................. 37
Horse Livery............................ 182
Total monthly expenses.................. 1869.69

Assets
Cash.................................... 0
House Equity value ..................... 40000
Shares and bonds........................ 0
Car(s).................................. 500
Other assets............................ 3000
Total Assets............................ 43500

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 156.77...(313.5)....0
Secured Debt.................. 7657.23..(0)........0
Total secured & HP debts...... 7814......-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Student Loan...................2929.17...0.........0
Lloyds overdraft...............4546.06...1.........0
Barclaycard....................6324.66...1.........0
Housing benefit................148.7.....5.........0
South East Water...............454.74....0.........0
CCJ............................1593.14...0.........0
Lloyds visa....................16829.7...1.........0
Total unsecured debts..........32826.17..8.........-

Monthly Budget Summary
Total monthly income.................... 1,913.53
Expenses (including HP & secured debts). 1,869.69
Available for debt repayments........... 43.84
Monthly UNsecured debt repayments....... 8
Amount left after debt repayments....... 35.84
Personal Balance Sheet Summary
Total assets (things you own)........... 43,500
Total HP & Secured debt................. -7,814
Total Unsecured debt.................... -32,826.17
Net Assets.............................. 2,859.83
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

These are my average expenses but i have already messed up October as £250 of my income was paid last month and £200 of it is gone on the car and my rent this month will include an extra £147.66 as in arrears.

TizerCat

Just lost half an hour of post......grrrr.....

Got up bright and early to take DS to work for 6am...have walked the dog....now to do number crunching for the month as got paid yesterday. Have managed not to spend anything yet

will post in smaller chunks incase I lose it all again!

TizerCat

Monthly Income Details
Monthly income after tax................ 1413.53
Other income............................ 250 spent DS rent last month
Balance from current a/c.................52.83
Total monthly income.................... 1716.36

Monthly Expense Details
Mortgage................................ 313.5 [STRIKE]inc £50 towards arrears[/STRIKE]
Rent.................................... 418.23 inc [STRIKE]£147.66[/STRIKE] £122.90 towards arrears
Council tax............................. 128
Electricity............................. [STRIKE]30[/STRIKE]7 £12 left from last month
Gas..................................... [STRIKE]30[/STRIKE]20
Water rates............................. 54.1
Telephone (land line)................... 30
Mobile phone............................ 10
TV Licence.............................. 11
Groceries etc. ......................... 120
Clothing................................ 0
Petrol/diesel........................... 60 Have nearly 3/4 tank left
Road tax................................ [STRIKE]125[/STRIKE] £68.75 only paid 6 months
Car Insurance........................... 16.79
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 28.93 Pony meds ringworm
Other insurance......................... 27.06
Presents (birthday, christmas etc)...... 00
Haircuts................................ 9
Emergency fund.......................... 0
Wormers, dentist, saddler............... 0
Hay..................................... 0
pregnancy scan for H1................... [STRIKE]100[/STRIKE]140
Farrier................................. 25
Horse feed ............................. 37
Horse Livery............................ 182
Debts....................................8
Overdraft fee............................2
Total monthly expenses.................. [STRIKE]1809.44[/STRIKE] £1716.36

Balance £o.oo (can't get the same balance twice tho!)

TizerCat

Will use surplus towards housing benefit repayments as that is the smallest debt....would have normally just see it as spending money

Good news..have been offered an allotment of my own ...going to see it saturday. am a co worker at the moment on a friends allotment but would really like my own. Only problem is that I will have to get my own tools and equipment and pay the rent myself, so not sure I can afford the cost.

will advertise the companion pony for sale at the w/e

TizerCat

OOPS...just realised that is still a negative balance .....need more coffee I think! Need to tweek it a bit more.....

findingmyfeet

morning tizercat

you may still be tweeking the budget but at least you have made a good start. I need to do the same myself as although i have cut back quite a lot and started saving for the first time in my life i still waste far too much. Think your grocery bill is really good. i have 3 adults at the moment and am spending £300 a month!! (we are the same age and we do ponies too....although we are trying to sell at the moment, my DD no longer has the time to ride!!!!)

so good luck with your new budget and diary , look forward to all your news

fmf xx

TizerCat

Thank you, FindingMyFeet,

It is good to know that another horsie person is out there going through the same thing......

My shopping bill is only for me tho!! The kids are aged 20 and 25 and due to our differing tasts and eating patterns buy their own food and cook it! They are more like lodgers really! After this month doing the grocery challenge I will have more of an idea what I actually spend.

aiming to sell 2 of the ponies and keep 1 for me. Problem is the new one I got 3 months ago has brought ringworm, i was told it was sweetitch! so have to get rid of this first as all now got it. Also the big mare went away to see a stallion in the summer so now have to pay for a scan to se if she is in foal. I don't think much of my debt will be cleared before christmas but starting now will help it not getting any worse!

good luck with selling your ponies i hope you get a good price!

Do you have a diary? i would like to subscribe ?

TizerCat

Havn't advertised ponies yet for sale but an old school friend of DD's who now has a daughter !! wanted to have the smallest one on loan and will get him backed, she will pay his keep . not sure If I should take her up on this it will save about £70 per month on my bills .....or try and sell and get some cash for him....

TizerCat

Lost my post again ! don't know what I'm doing wrong?

Have taken 3 half days off as had them left over from last years holiday year.

Yesterday afternoon tidied up the alloment with duvet dog. Lovely sunny day. This is my first year growing veggies. Very pleased have got carrots, parnips,celeriac,cabbages,spinach, sprouts and sprouting broccoli doing well for the winter.

To do List for this afternoon

Book scan for big mare Done going to cost £140 - £40 more than budget :eek:
buy ringworm treatment online as cheaper than vets Done spent £28.93 not on budget
Pay online, Mortgage,Rent, TV licence, Housing benefit, Road tax Done
Post cheque to Barclaycard Done
Check freezer/cupboards for food to use up Done
write shopping list for week Done
Asda shopping using DS's discount card Done
Clean bathroom and own bedroom....tomorrow ....
Feed ponies and put rugs on as heavy rain and wind tonight. Done
Paid Lloyds Done
Paid Housing Benefit Done
Put electric & Gas on meter

That should be enough for today

findingmyfeet

good evening,

we only have the one pony but shes now oficially up for sale, always been my DDs hobby not mine and now shes almost 18 the social life has kicked in!! Im left with all the care and bills!!! so time to move her to a home where she will get more attention.

no i dont have a diary, luckily now i have barely any debt too but live month to month most of the time and its starting to worry me. Looking at cutting everything back as much as possible (but still have some sort of life), jobs ok at present but so many being made redundant around me or hours been cut and need to get myself in the best possible position i can. Ditching all unnecessary or unused stuff-should have done it long ago. New Savings account s (yep 2!!!!yahhhh) opened at the end of august in anticipation of things to come........we will see how it goes...anything going in and staying in will be huge to me.
keep posting, liked your list too i do that everyday, half only ever get done on mine though o matter how hard i try.