Help!!!

thecat90

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 3
Number of children in household......... 1
Number of cars owned.................... 3

Monthly Income Details
Monthly income after tax................ 995
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 995

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 100
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 40
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 25
Groceries etc. ......................... 0
Clothing................................ 50
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
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................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 30
Haircuts................................ 5
Entertainment........................... 100
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 350


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

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Loan...........................3000......77........17.9
Capital One CC.................800.......10........34.9
Overdraft......................2000......30........18.9
Total unsecured debts..........5800......117.......-


Monthly Budget Summary
Total monthly income.................... 995
Expenses (including HP & secured debts). 350
Available for debt repayments........... 645
Monthly UNsecured debt repayments....... 117
Amount left after debt repayments....... 528

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -5,800
Net Assets.............................. -5,800

Hi,

I'm looking for help to get debt free and stop my silly spending.
As well as the above I have used Wonga.com and owe them around £250 to be paid by end of this month. I have a car but my workplace pay for fuel and the maintenance of the car.

Any advice would be great!

Shoe_Gal

Are you living with parents - hence no bills? If so, what are you spending the £528 per month on?

McKneff

Do you not eat, use electric, gas water.

rising_from_the_ashes

Are the following incl in rent: Council Tax, Gas, Electric, Water, Contents insurance?

What about groceries?

Mobile, clothes & entertainment are all very high.

If the above is correct, then with what you have left and but cutting the 3 above, you'd certainly be able to pay off the Capital 1 card in a couple of months, then I'd start doing the same with your overdraft - these have the highest APRs.

McKneff

Bet you really dont need to spend £50 a month on clothes. Make do with what you have in your wardrobe for say 12months,
£600 to throw at your debts is more of a priority.

dancingfairy

Hi - at the moment you are fortunate in that you have a realtively well paid job (some people don't have jobs at the mo.) and very very low overheads - this is the perfect time to get those debts under control - say you want to rent a house, get married , maybe get a car/driving lessons - you aren't going to be able to do that with this debt hanging over your head -and the amount you will end up paying interest will scare you -:eek::eek: those debts will cost you a lot - you could do so much better with the money than line the back pockets of the bank - the sooner you get shot of it the better. Once it's gone you can start saving for anything - the holiday of your dreams etc.
You only have to look at the people on here that started where you are now - 6,000 will easily turn into 10,000 , 15,000 and it will be soo much harder to pay it off.
Good Luck
df