Taking the plunge

rara879

Thanks beccie and woowoo it's great to have some support!! I was starting to lose all hope when I saw how much money I have left for the month!

Woowoo I think it might have been your diary that I first read on here and it gave me a lot of hope so thank you! I even made a couple of 10p and 6p payments on my credit card last month after reading it (I am sure the credit card company doesn't thank you!!).

A tiny little bit of good news though, I don't need a new tyre just a puncture repaired and the guy is going to do it for me for free so don't have to pay out for a new tyre! A small saving but as they say.. Every penny counts!!

Woowoo

Excellent news on the tyre x

**Kat**_2

Hey - you are defo not alone. I'm only 25 and my debt was down to being young and stupid and the banks handing it over willy nilly. I have had loads of help since putting up my SOA so it's worth taking the time to do it xx

EB69

'ello 'ello - another Debtbuster - at this rate we will put the banks out of business!

I like to think of myself as a "tesco" girl - every penny counts and all that. If only I thought that when spending as if I am married into the Rooney/Beckham fraternity...

The SOA will help you when you look at it - I was HORRIFIED when i saw mine and determined to sort it out.

You can do it though - so many great ideas and supportive idea - who knows - Beccie might even talk you into start a dress hire business :-) (sorry, long story...)

Anyway good luck, I'll be keeeping an eye on you, since everyone else is keeping an eye on me...

**Kat**_2

I just re-read your first post. I know nobody wants to take advantage of their parents but do you think your mum would really mind if you put the money you are paying her each month against your arrears? I'm not suggesting you don't pay her back, or that you don't until you have no debt as that's not massively fair (although if it's offered, swallow your pride and accept). Just the money you are currently paying monthly on your arrears (and not clearing) could then go as extra to your mum to get it cleared quicker:

i.e. don't pay your mum in Nov pay but completely clear your electric arrears. The money you would then pay your mum + electric clear Orange arrears. The rest is "normal" debt from the looks of things so what you would have paid a month for the electric and orange put on top of what you would have paid your mum to pay her off. The money then you would have paid to all 3 pay off as extra for whatever has the highest interest.

When you have time to do the SOA you will need to input your APRs which will help you decide what needs to go first. Good luck xx

Kepp

EB69 wrote: »

You can do it though - so many great ideas and supportive idea - who knows - Beccie might even talk you into start a dress hire business :-) (sorry, long story...)

So not my fault! :rotfl:

Excellent news on the tyre rara, every little really does help

rara879

So here it is....

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household......... 0
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1492.97
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1492.97
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 687.5
Management charge (leasehold property).. 0
Council tax............................. 161
Electricity............................. 45.67
Gas..................................... 0
Oil..................................... 0
Water rates............................. 18
Telephone (land line)................... 0
Mobile phone............................ 45
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 10
Groceries etc. ......................... 80
Clothing................................ 0
Petrol/diesel........................... 70
Road tax................................ 10
Car Insurance........................... 40.27
Car maintenance (including MOT)......... 5
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Car Loan................................ 153
Total monthly expenses.................. 1335.44

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 4000
Other assets............................ 0
Total Assets............................ 4000

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Barclaycard....................500.19....23.96.....27.9
Aqua Card......................319.96....20.41.....35.9
Very.co.uk.....................377.38....40........39.7
Electric Arrears...............45.67.....0.........0
Orange.........................70........0.........0
Mum............................160.......0.........0
Littlewoods....................131.06....20........0
Total unsecured debts..........1604.26...104.37....-

Monthly Budget Summary
Total monthly income.................... 1,492.97
Expenses (including HP & secured debts). 1,335.44
Available for debt repayments........... 157.53
Monthly UNsecured debt repayments....... 104.37
Amount left after debt repayments....... 53.16
Personal Balance Sheet Summary
Total assets (things you own)........... 4,000
Total HP & Secured debt................. -0
Total Unsecured debt.................... -1,604.26
Net Assets.............................. 2,395.74
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

rara879

**Kat** the thing with that is that when I borrowed the money I promised my mum I would definately give her it back by the end of November as half of it she has promised to give to my Grandad who emigrated to South Africa and needs an operation but cant afford it and the rest is what she has saved for Christmas.... I would feel absolutely awful not paying her back.

rara879

So have posted my SOA, not sure if I have done it right and included everything but I think so..

rara879

Thanks for your support everyone.

Really busy at work so will update properly later!