My SOA - KATCHAMBERS

black-saturn

livinginhope wrote:

Hi Kat,I don't want to sound harsh here,but I don't think your lightbulb is fully lit

Just what I was thinking. When she's had that I think she won't want to spend so much.

roswell

Hi Kat,

Just a tip, take all your monthly bills and X by 12. eg
Sky = £50 X 12 = £600 - This is more than your company is making a month. Or over half of a months wages.

Do this for every bill and you will soon realise where your money is going.

EG
Entertainment = £70 = 840
Sky = £50 = 600

Cinema subscription = £22 = 264

Total = 1704 - Effectively your working 2 months a year just for these 3 things, or another way to look at it is your hubby is working next month for these.

black-saturn

The Sky freephone number is 0800 731 6965 incase you decide to cut your package down.

roswell

black-saturn wrote:

I put £10 per month into an ISA instead which means I get the interest instead of the insurance company.

WOW slam the breaks on thsi is definately not a good idea with the mortgage the Op has, if house burnt down they would be bankrupt and homeless, No isa is going to fix that.

tyllwyd

I think you should have a good hard look at your business. Am I right in thinking that it makes a profit of £400 per month but currently you keep that money in the business? If you are earning £1000 per month part-time, then running your business is costing you a lot if you think in terms of the money you could be earning if you worked full-time. My feeling is that you need to sit down and think hard about it - either you need to put more time into it so that you can increase it to a level that will give you an hourly rate that reflects the time you are investing into it, or you need to think about winding it down and work full time hours to pay back the debts.

Since you have got these big debts hanging over you, every £500 you don't earn per month is actually costing you £500 plus however much interest on the money borrowed.

Bluelad_2

Black Saturn said to cancel Contents not Buildings.

Still don't agree though. It would have to be one helluva ISA to pay for the stuff in my house if. 1 years ISA won't cover anywhere near the contents of a house

black-saturn

roswell wrote:

WOW slam the breaks on thsi is definately not a good idea with the mortgage the Op has, if house burnt down they would be bankrupt and homeless, No isa is going to fix that.

If the house burnt down they could claim on the buildings insurance for that. Contents insurance is what I was talking about.

lynzpower

hi there

You also seem to have missed off your TV licence?

I dont want to kick you when you are down, but for example this

Plan: To get a free alaskan cruise with my Tesco Points. Need 12,000 points per quarter!
Sep-Nov = 9,949 ( a bit behind so far)

Just seems so silly.

I know tesco deals are good, but what good is a holiday in alaska when you are thousands of pounds in debt?

Use your CC points for your green flag cover, or for your shopping, or towards PAYG credit for your phones.

You have a lot of debt, because you are insistent on spending on luxuries that you cant afford. in turn this debt is costing you a fortune in the long run.


If you are not willing to take the sugestions of others, what ARE you going to do??

Can you get another job , 400pcm isnt a big income from your business, you could get a full time job and if you are near MK then surely you qwould pull 800pcm after tax???

black-saturn

The TV licence is on the end of the SOA Lynz.

lynzpower

well spotted BS