The journey starts here - don't stop believing

saorsie

Hi **Kat**

I think you're incredibly brave to open up your 'spending diary' and if you can continue to be so brutally honest, I'm sure you are correct in that sheer embarrassment will force you to re-adjust!

Couple of things leap out:

• cigs as you've acknowledged :eek: :eek:,
• £2.50 between you on 'medical matters' - make sure you've got stuff with you rather than having to buy overpriced in an emergency
• start taking lunch in with you - between you for 2 days you spent around £14 on lunch, drinks and snacks not counting the bread & beans for tea

Will pop back see how you're getting on

-s-

**Kat**_2

You are right. Will defo be taking lunch in, we want to quit but we are going onto rollies until then to start saving money (we have tried cold turkey before, it doesn't work for us so taking it one step at a time). As well as the spending diary I may add a "how much I smoked today" part as I can try and "beat" myself.

I think I will take some medical stock into work so I have some there and some at home - can't get caught out then lol

saorsie

Sounds like a good start **Kat**

You asked earlier about the link for completing a SOA - try this for size

http://www.makesenseofcards.com/soacalc.html

Have fun

-s-

**Kat**_2

I will defo do this when I get in from work tonight when I can dig out bank statements to have exact figures - thanks so much for the link saorsie

saorsie

You're welcome - be prepared to be very,very scared when it's all down in black and white (or hopefully it may not be as bad as you feared! :dance:) however, you've done the hardest thing by acknowledging there's a problem and it's great that OH is on board as well - the only way is now up - or down when it comes to your debts and mortgage :T

Once you post your SOA, lots of lovely people will be along with help and advice regarding managing your debt and reducing your spending / outgoings.

With regard to the cigs - try this demotivator to help you on the path to quitting
http://www.moneysavingexpert.com/articles/3418890400,60183

You might also want to have a look at the snowball calculator when you've got all your figures together, pop in your debts and the amount you can afford to pay each month and by magic it'll advise you in which order to pay of your debts and how much to pay to save the most interest etc and will also calculate your debt free date - now that is fun, and slightly addictive!

http://www.whatsthecost.co.uk/snowball.aspx

-s-

**Kat**_2

We are starting to save money (mainly pennies atm) to pay against our debt. We are in 2 minds about what to do. As it's not credit card debt, I'm not sure we can send in a few pounds here and there so we were thinking of saving into our (atm empty) building society account.

This however, means we will still be paying interest and not really gaining any in the B/S - can you pay the odd sums of personal loans?

saorsie

Some do allow you to overpay your loan others don't - have a look on your agreement paperwork, it should tell you there or ring Barclays and ask them.

What is your £600 debt to Barclays Reserve which is costing you £22 per week - Is it an overdraft facility? I only ask because anything that is costing you that much in interest/charges each and every week for such a small amount of borrowing needs to be gone - very very quickly :eek:

-s-

**Kat**_2

Right, here goes our daily spend:

Me

£2.90 Train
£2.00 Lunch - Sandwich, apples/grapes, can of pop - packed lunches will start next week when I have had time to go shopping
£2.60 Corner shop - Milk, Milkybar buttons for son, Rich tea biccies
£2.65 Cigs

Total - £10.15

OH

£2.76 - Cigs
£1.50 - Coke/Crisps
£2.00 - Tuna Baguette
£0.55 - Cake
£2.90 - Train
£2.65 - Cigs

Total - £11.81

Grand Total - £21.96.

Cigs soooooooooo have to go (will very much try and hope to be totally quit by Christmas) as does OH's cake and crisps (if I can't have choccie why can he have cake) that would have been £10.11 less!! NEED WILLPOWER!!!

**Kat**_2

Finally here is my SOA - formatted a bit weird as don't think it was working properly

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 1
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 1076.27
Partners monthly income after tax....... 1223.71
Benefits................................ 157.75
Other income............................ 0
Total monthly income.................... 2457.73

Monthly Expense Details
Mortgage................................ 317.6
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 106
Electricity............................. 32
Gas..................................... 20
Oil..................................... 0
Water rates............................. 45.27
Telephone (land line)................... 0
Mobile phone............................ 64.42 - for both of us - in contracts nothing we can do
TV Licence.............................. 12
Satellite/Cable TV...................... 56 - sky, internet and landline
Internet Services....................... 0
Groceries etc. ......................... 150
Clothing................................ 0
Petrol/diesel........................... 40
Road tax................................ 15
Car Insurance........................... 36.29
Car maintenance (including MOT)......... 0
Car parking............................. 35
Other travel............................ 75.4
Childcare/nursery....................... 503
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 2
Pet insurance/vet bills................. 15.98
Buildings insurance..................... 23.1
Contents insurance...................... 0
Life assurance ......................... 20.13
Other insurance......................... 7.99
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
"reserve Usage Fee"..................... 74 - the reserve MUST go!
Account Fee............................. 15
Overdraft Protection.................... 0.8
Gym..................................... 54 - in contract until Jan - will be cancelling
Total monthly expenses.................. 1720.98


Assets
Cash.................................... 0
House value (Gross)..................... 150000
Shares and bonds........................ 0
Car(s).................................. 1000
Other assets............................ 0
Total Assets............................ 151000


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 126000...(317.6)....2.6
Total secured & HP debts...... 126000....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Kays...........................200.......4.29......0
Barclay Loan...................6916......210.2.....13.29
Reserve/OD.....................600.......0.........0

Worked out we have £522.26 left per month which is £16 per day. Here lies our problems . I do have a second job but haven't included this on there as income varies week to week. Lowest it's been is £36 per week so that makes an extra £156 per month or £5 per day.

Nothing in the entertainment, prezzies, clothes and hair section as if we don't have the ££ we don't get.

Serious help required

**Kat**_2

I think next month (from Nov 1st) we need to keep all receipts for food shopping/nappies etc to see if that £150 is right as it was a bit of a guestimate