starting to sort my finances out (finally!)

roxorx

i think this is the right forum to post on (few to chose from!). anyways, though i'd start posting as have been browsing the forums for a while and started down the road of claiming back bacnk charges after reaind up on it.

thought i'd post up where i am currently with my money, my lightbulb moment was in january in this year, but since then i've repeatedly fallen off the wagon so to speak!

anyways, this is my status at the moment, so gonna post it up and add to it what i can save/pay off or reduce outgoings etc and track it.

if anyone has any usefull tips on anything that'd be cool

Monthly Incomings:

My salary - £1537.78

Monthly Outgoings:

Mortgage/Rent - £0 - have moved back home to save on this for now!
Council Tax - £0
Gas - £0
Electric - £0
TV License - £11.37
Sky £43.50
Setanta - £14 (subscription sports channel)
Mobile - £60 (roughly)
Food - £100
Ciggies - £110ish
Petrol - £200
RBoS Loan - £261.56
Citifinancial Loan - £159.24
MBNA CC - £50

Total: £1,009.67

Royal Bank of Scotland Loan
Balance - £10,200.84
Monthly payment - £261.56
Months to go - 39
Early settlement - £8200 approx.
APR - ??% will find this out

Royal Bank of Scotland Overdraft
Limit - £1200
Account charge - £15
At present - £-1100

Citifinancial loan
Balance - £3500 approx
Monthly payment - £159.24
Months to go - ??
Early settlement - £2600 approx.
APR - ??% will find this out

MBNA Credit Card
Balance - £1,660.43
Monthly payment - £50 via direct debit
APR - ??% will find this out

Total debt - £16,561.27

as i said above, i had the lightbuld moment in january when i was living away form home and had been for a few years, but always struggled to meet payments and was continually borrowing off my mum. decided that it had to stop so asked nicely and moved back in january and she has waived my rent payments since then

i've been loads better with cash and have cut my spending down loads by staying in most weekends, getting rid of other contracts i didn't need like a 2nd phone line, dvd rental etc etc. sometimes i end up being a bit silly and spending too muc on pay day, so i've setup another current acocunt and will transfer any money i don't need for bill sinto that so i can't waste it.

i'm wanting to get even better though, as i want to be financially stable sometime next year, and if i can do it then look to moving out again when i'm sure i can afford to. it'll save me £200 quid in petrol a month if i move back to birmingham form warwick as i work in brum!

i'm hoping to get £3,080 back for unfair charges form the RBoS, they have up until friday before i start court proceedings, and really want that so i can pay off either the whole loan with citifinancial which would only be 2600 early payment and then up my payments on my CC to clear that in 5 months.

anywasy, i'm waffling on, and people have probably fallen asleep reading this

i'm gonna keep track of how i get on here, as it seems to have helped others

sgx.saint

Welcome and well done for having your lighbulb moment. This forum is excellent and you will find all the help and support you need right here from thousands of others.

Before anyone says anything I can tell you now if you want to be a true MSE then drop your Sky package down

That will save some pennies .... apart from that post up a full SOA and the experts will look at you income and expenditure and highlight areas you could save etc.

roxorx

sgx.saint wrote:

Welcome and well done for having your lighbulb moment. This forum is excellent and you will find all the help and support you need right here from thousands of others.

Before anyone says anything I can tell you now if you want to be a true MSE then drop your Sky package down

That will save some pennies .... apart from that post up a full SOA and the experts will look at you income and expenditure and highlight areas you could save etc.

hi

i spose i could drop the movies off of it, i know i can't live without the sport...it helps me stay in and not go down the pub! will phone them tomorrow and get rid of them, sod it, never many good films on anyway.

what's an SOA?

sgx.saint

hi

i spose i could drop the movies off of it, i know i can't live without the sport...it helps me stay in and not go down the pub! will phone them tomorrow and get rid of them, sod it, never many good films on anyway.

what's an SOA?

Sorry, an SOA = Statement of Affairs. It's basically a full breakdown of your income and expenditure. See this thread here:

http://forums.moneysavingexpert.com/showthread.html?t=107280

I have Sky myself, so I can't talk lol, but I only pay £17 a month for the full package and as you say, it keeps me in the house instead of being out drinking and spending money I dont have!

sgx.saint

Stupid internet connection and my impatience = double post

roxorx

sgx.saint wrote:

Sorry, an SOA = Statement of Affairs. It's basically a full breakdown of your income and expenditure. See this thread here:

http://forums.moneysavingexpert.com/showthread.html?t=107280

I have Sky myself, so I can't talk lol, but I only pay £17 a month for the full package and as you say, it keeps me in the house instead of being out drinking and spending money I dont have!

yeah read that, and kinda did half of it (with the info i know off hand and posted above).

will get full APR's etc in the next day or so and add to that post to help.

gonna start doing the spending diary this week, i can see that scaring the pants off me as i'm terrible with getting through cash on absolutely nothing

roxorx

right, have set my limit of 20 quid this week and no more. will take lunch to work each day and not have my cash card or any change lying around to use on anything.

sorted out loads of old paperwork today as well, so this afternoon is free for calling sky and orange to see if i can get a cheaper deal than i am currently on and lower the packages i have.

iolanthe07

Ciggies - £110ish

Gives these up and do your lungs, your stinky clothes, anyone who has to stand close to you, and your wallet, one hell of a favour.

postingalwaysposting

roxorx wrote:

right, have set my limit of 20 quid this week and no more. will take lunch to work each day and not have my cash card or any change lying around to use on anything.

sorted out loads of old paperwork today as well, so this afternoon is free for calling sky and orange to see if i can get a cheaper deal than i am currently on and lower the packages i have.

roxorx... if you see moozie thread... she runs a challenge and each day you post on the what have you spent thread... its stops me and many of us spending extra money as we know we have to confess all on a thread on here... work a look

roxorx

iolanthe07 wrote:

Ciggies - £110ish

Gives these up and do your lungs, your stinky clothes, anyone who has to stand close to you, and your wallet, one hell of a favour.

right, seeing as i seem to be on a roll for things today (going all healthy, working out debts and repayments etc) i'm gonna go the whole hog and quit the ciggies as of 12pm tonight.

currently i have 8 left in front of me, they'll probably all go before 12, but if they don't, they get torn up

running with my not spending money thing this week i wont have cash on me to buy any, and will tell the smokers who work for me not to let me have one (and that thye will have to put up with some mood swings! lol )

not planning on going out netx weekend either so hopefully it'll be 2 weeks before i visit a pub (my usual downfall)

wish me luck!!

roxorx

postingalwaysposting wrote:

roxorx... if you see moozie thread... she runs a challenge and each day you post on the what have you spent thread... its stops me and many of us spending extra money as we know we have to confess all on a thread on here... work a look

excellent, will do that as well, cheers