Hello all

1_step_closer

Ok.............don't tell me off too much! Hubby is dealing with his debts and I am dealing with mine. We have seperate accounts but he is setting up a new business (long very boring story) and I monitor the money going in and out. Actually I feel very embarrassed as I'm AAT qualified, good with everyone elses but rubbish with mine.

I appreciate your suggestions by the way, so thank you.

OK....

Money in: £988.48
£120 from hubby for gas and electric
TOTAL IN £1108.48

Money out: (this is monthly)
HFC DVD player £12.23 (sorry don't know the interest)
Credit card £156. I have a horrible feeling that the apr is 23% as the monthly rate is 1.941% for merchandise and 2.207% for cash interest. We have had to live on this card for a few months.
Xmas savings £20
Pet ins £15.57 - this is for 1 dog so i need suggestions on how to reduce this and cover 3 dogs.
Water £32.94
Gas £41
Electric £79 - this is to incorporate the fact that the electric people underestimated the last couple of bills and then hit us with £249. So this £79 won't be forever.
TV license £11.37
Egg loan £192.09
Sky £21 - we did consider freeview but the reception in my area is terrible and I do love my sky. (sorry)
Council tax £88 (Feb/March no charge as they split it over 10 months)
Bank loan £208.10
Car loan £81.55

Total out:£966.35

Extras: Petrol £40 a month
Food for 2 adults and 3 dogs and 2 cats £160
Smoking £22 a month. I do my own rollies and have tried giving up but am the witch from hell if I do.
We rarely go out, tend to have friends over where I'll cook and they bring a bottle or vice versa.

So that total is now £1188.35

As you can see my shortfall is £79.87

Debts :0

DVD player £587.04 Sep 05 paid £195.68 don't know apr
Egg loan £16135 (inc interest and PPI) started April 06 6.9%
Bank loan £17480 (inc int & PPI) started Oct 05 6.9% - I did try to redo this without PPI but I would incur a penalty charge and they would have to redo the loan and I would then pay higher int.
Car loan £4893 (inc int) started May 06 - they sneakily added PPI and I didn't realise until the other month what the extra was. I have since cancelled the dd and will wait for a letter from them.
Credit card £6243.58

So there we go. Hubby helps me when he is able depending on business etc but I got into this mess so I need to get out of it. I know it took 2 of us but like I said, hubby is sorting his out and I am doing mine.

I have applied for 0% cards etc but no luck at all.

Be kind!

1_step_closer

Forgot to mention I'm in my OD by £313 and the limit is £350. I am due a pay rise but no idea how much yet.

lynzpower

Ok basically you are getting into debt by a further 80quid ish a month, not counting the interest charges.

YOU need to be making some cutbacks so that you do not get further into debt.

The obvious ones for me are
Sky- you dont need this. You simpoly want it. Its equivalent to putting this payment on the credit card every month, as you do not have the funds to pay for it.
DVD player- is this renting a dvd player? seems crazy to be spending 12 a month when I got my dvdplayer for 20 quid ??
160 for food seems high. Its entirely possible to use up everything from the cupbaords & freezers & delay as much as possible going shopping,. You need to really try to bring this right down to 110 a motnh if possible, which Im sure it is, with some work.

You need to cut the cards up. You say youve been living on them? Why is this?

Could you get a second job, or do some freelance bookeeping or something to bring extra in

You simply cannot survive like this, and something has to give

What have you got to sell? ebay is your freind especially busy in the run up to Xmas. How much is in your Xmas account. Can you try and either cut people out of the present buying? or make presents, lot of people making jams, cakes , chocolates, have a look on the OS boarsd. If you could use some of the Xmas savings for debt that would be a start.

You havnet put away for MOT, car tax there either?

jobbingmusician

About the pet insurance - have you looked at the basic providers, like Tesco and Sainsbury's?

And just a thought - you seem to be earning very little for an AAT (as far as I can tell). Have you thought of putting your head above the parapet and looking for a better paid job?

1_step_closer

Thank you for this. (hangs head in shame)
I will try and cut right down on the shopping, I have discovered stardrops and have also discovered that own brand is as good as expensive brands.

The dvd player is a full system thing with surround sound etc (bought in the days of "oh this is nice".

We have a garage on site where i work so I will enquire about MOTs etc. and their prices.

The reasons we lived on my card is because when I changed jobs my tax was messed up and at the same time hubby went out of work.

I have cut down on the Xmas list spending (used to think nothing of £40 perperson) and not it's more like £10. I have dropped a few people as well.

I'm a bit scared of ebay to be honest, fear of the unknown, and feel so shamed of myself I just want to cry.

lynzpower

Aww dont feel like that sugar

You can only start to get things better once you face up to it, and now is facing up to it isnt it? Theres not one of us on here whove spent beyond our means. but the fact is once you start to sort it, you'll get there.

How much more of the tv system do you have to pay off? And whats the APR on it?

Jobbing musicioans right, you dont seem to be earning a lot....

oakdale_minx

1_step_closer wrote:

I'm a bit scared of ebay to be honest, fear of the unknown, and feel so shamed of myself I just want to cry.

Nothing to feel ashamed of at all.

i've probably missed it but I can't see any rent or mortgage? Or does hubby pay this?

i've been using ebay now since 1999 and it can be an absolute godsend. Might be worth spending an hour or so on the site, I've not used it but there is a tutorial I've seen on there. There is also an ebay for dummies book Isaw recently on the shelves, but to be honest you will be able to teach yourself. All you need is a bog standard digital camera. Have a look on the Ebay board on MSE, there are loads of people who can help. Honestly, the site might seem big and unwieldly these days but if you follow the steps one by one you will be fine.

We're all here behind you - you don't need to hang your head.:A

1_step_closer

Oh dear now i do feel like bawling! thank you so much, you are all very kind.

DVD - finishes sep 09 (I think) I have managed to lose the paperwork (through denial I think) and you know what it is like, £12 odd that won't matter. Yeah right!!

I am actually paid well for my area (S Wales) and I do have a good job - I was on a terribly paid job beforehand (probably another reason the debts piled up) and was bullied by the manager so my confidence was well and truly shot. But I managed to get where I am now on £2.5K more doing a job I enjoy with lovely people and a company I feel at home with. There is room for progression there and within 2 months of starting I was given more responsibility and am on good terms with the managers. That whole environment has made such a difference to my confidence it's unreal!

I have discussed extra work with hubby but do have medical issues which tire me out quite quickly, and as i do the majority of the housework and looking after the dogs he doesn't want me to end up in hospital (which has happened before).

Don't get me wrong he does help when asked but building up his business is more imporatnt than hoovering and washing up after dog accidents!

1_step_closer

Hubby pays the mortgage and all associated bills, as well as BT, Plusnet (internet that allows you to have your own server) and is MSCE qualified - hence the bsiness set up.

He also supports his daughter from a previous relationship.

richardvc

Hi 1 step closer - can't offer you any advice but wanted to wish you luck.