Time To Wake Up & Smell The Coffee!

david_hellier

Hi and welcome. According to my calcs you are currently overspending by £44.07 per week. This excludes food by the way, so you cannot afford to eat. The figures assume those loan payments as you have not said what they are. Therefore in the meantime you need to increase income by about £150 per week to survive. Are you claiming all benefits, CT HB etc? You should get something as your income is lowish.

You definately need to get a lodger to support your income, then you would have about £33 per week to spend on food. I suggest you Call CCCS to do a DMP to manage the debts.

The figures are as follows, good luck:

income weekly monthly
self 1200.00
partner







total 0.00 1200.00 divide by 4.33
£276.93

£276.93 total weekly income

spend weekly monthly
rent/mortgage 300.00
council tax 55.00
elec 25.00
gas 25.00
water 0.00
secured loans 0.00
TV licence 10.99
fines
car loan 90.00
mob 30.00
car ins 35.00
house ins 20.00
gym 20.00
fuel 80.00
ntl 20.00
bc 250.00
rbs 180.00
nor rock 250.00












total 0.00 1390.99 divide by 4.33
£321.00

£321.00 total weekly spend

Start= income - spend = -£44.07 per week

moozie_2

Hello and welcome

Here's my comments

clint1974 wrote:

Hello All

I have decided to face up to my debts and have been avidly reading lots of posts. I will try to give you a rough picture of my current financial state.

I earn around £1200 a month

my outgoings are as follows :-

Mortgage (Interest Only) £300 p/m
Car Finance £90 p/m
Gas /Elec £50 mth What kind of property are you in? Check comparison websites for any possible savings.food£50 mth
mobile £30 mth Can this be reduced at all?
council tax £55 mth
tv licence £10 mth Isn't it £11.39?
car ins £35 mth That's £420 a year. Are you very young or had a claim? This can be cheaper.
home ins £20 mth That's £240. Can you not get it cheaper? You can change through the year.
gym £20 mth
fuel £80 mth Try to increase walking/not using car for short trips.
NTL TV & Broadband £20 mth
Utilities total: 760 (excluding savings)

Income - utilities = £1200 - £760 = £440

Barclaycard £5000 @ 24.9% How much per month? This one is your priority.
RBS Credit Card £3600 @ 22.9% How much per month? Second in order to pay off.
Northern Rock Loan £5000 @ 9.9% How much per month?
Total debt: £13,600 (rounded figures)

Your idea to rent a room out is a good one, hope it comes off You should be able to decrease some of your outgoing too to be able to throw more at the debts.

I think overall it's not a bad SOA but I don't know how much your debt repayments are Worth using a spending diary to make sure you know where all your money goes. Also, make sure you pay the minimum to RBS and NR and focus on the B/Card.

This website may be of interest http://www.whatsthecost.com/snowball.aspx

Please post more details

clint1974

Hi All

Thanks for the replies. I have last week changed utilities and have £20 coming my way when it completes. The minimum payment on my RBS card is around the £80 mark. I have rang and written to rbs & b'card to ask for a reduced rate but so far no success. I am now on the voters roll so that should help but i think he main problem for me not getting further credit is that i have made 7 out of the last 12 payments late on my B'card. I am in the process of getting my credit file cleaned up. The Northern Rock Loan is 90.64 @ month. My car insurance is the cheapest i could find i am 31 and have 2 yrs no claims. Won't get any money when VT'ing the car but will save £90 @ mth finance payment and reduce the £420 yr insurance to probably half.

clint1974

and had my 1st mystery shopper assignment but cannot partak as it is between 9 and 5 in my hometown but i work 50 miles away !