My/ our debt in black in white. Advice needed!

Skint-gall

Hi everyone

I have made a few postings lately but have always been a bit scared of putting down in black and white my SOA. I have had my light bulb moment this month!!! Finally!

Does anyone have any advice on how we could reduce our outgoings and maximise our income. I am hoping that there may be some glaringly obvious things that we have missed.

We both work full time at the moment but are hoping to do something like mystery shopping. I have signed up for pigsback, you gov and quidco but I dont seem to be geting anywhere quickly. We have been puting stuff on ebay lately and made £36 yesterday. Have a few more things to go on tomorrow for the 10p listing day.


Monthly Incomings:

My salary - £1000
Partners salary - 1215
Occasionally my husband has bonus payments with salry but can't rely in these and very occasionally I have overtime)
Total - 2215

Monthly Outgoings:

Mortgage/Rent & builidng insurance- £561
Council Tax - £140 (but £200 at moment as was approx month behind)
Gas/Electric - £80
TV License - £10.99
Tv/phone/broadband - £60
Food - £150
Travel £100
Contents Insurance £15.90
Driving Lessons for husband £60
Life Assurance/ Critical Illness £92.40
Smoking (him not me) £36
O2 for me £25
O2 for husband £25

Total: £1416.29

Debt
Joint Northern Rock, balance £17000, £184 per month, approx 11% APR ( was tied to previous Together mortgae with NR and so still has 22 years to run!!!! We were a loan refused when we applied for loan to be rewritten).

Mines. Egg Loan Balance £10,787.74. ££215.21 per month. Due to finish 01/02/20012. APR 7.7%


Mines. Cahoot credit card. Limit £4000, balance £4098.99, £100 per month. 11.8% apr

Mines. Cahoot overdraft. Limit £2000. Balance £2089.99. Attempt to pay £80 per month. APR 9.8%

Mines. Choice Catalogue Limit £3600. Balance £329.86, Goods on approval £967.99. Pay approx £120 per month

Joint Alliance and Leicester overdraft. Limit £900. Current balance £700 o/d. This is where our salary is paid.


Joint Smile Overdraft. Limit £500. Balance £494. This was supposed to be our parachute account as will be claiming back bank charges.

Total debt £36468,57
Total paid every month towards debt £699.21

Total income £2215
Total outgoings £2115.50

roswell

Mortgage/Rent & builidng insurance- £561

I assume the insurance is with the mortgage provider, look into seperate policys you sould easy make a big saving here.

Annie_Fanny

Skint-gall wrote:

Hi everyone

I have made a few postings lately but have always been a bit scared of putting down in black and white my SOA. I have had my light bulb moment this month!!! Finally!

Does anyone have any advice on how we could reduce our outgoings and maximise our income. I am hoping that there may be some glaringly obvious things that we have missed.

We both work full time at the moment but are hoping to do something like mystery shopping. I have signed up for pigsback, you gov and quidco but I dont seem to be geting anywhere quickly. We have been puting stuff on ebay lately and made £36 yesterday. Have a few more things to go on tomorrow for the 10p listing day.


Monthly Incomings:

My salary - £1000
Partners salary - 1215
Occasionally my husband has bonus payments with salry but can't rely in these and very occasionally I have overtime)
Total - 2215

Monthly Outgoings:

Mortgage/Rent & builidng insurance- £561
Council Tax - £140 (but £200 at moment as was approx month behind)
Gas/Electric - £80
TV License - £10.99
Tv/phone/broadband - £60 (Who with? How long have you been a customer?)
Food - £150
Travel £100
Contents Insurance £15.90
Driving Lessons for husband £60
Life Assurance/ Critical Illness £92.40
Smoking (him not me) £36 (Gotta go - it is SO bad for him - basically you are burning your money!
O2 for me £25
O2 for husband £25 (How long have you been customers? Are you on a monthly payment thingy?)

Total: £1416.29

Debt
Joint Northern Rock, balance £17000, £184 per month, approx 11% APR ( was tied to previous Together mortgae with NR and so still has 22 years to run!!!! We were a loan refused when we applied for loan to be rewritten).

Mines. Egg Loan Balance £10,787.74. ££215.21 per month. Due to finish 01/02/20012. APR 7.7%


Mines. Cahoot credit card. Limit £4000, balance £4098.99, £100 per month. 11.8% apr

Mines. Cahoot overdraft. Limit £2000. Balance £2089.99. Attempt to pay £80 per month. APR 9.8%

Mines. Choice Catalogue Limit £3600. Balance £329.86, Goods on approval £967.99. Pay approx £120 per month

Joint Alliance and Leicester overdraft. Limit £900. Current balance £700 o/d. This is where our salary is paid.


Joint Smile Overdraft. Limit £500. Balance £494. This was supposed to be our parachute account as will be claiming back bank charges.

Total debt £36468,57
Total paid every month towards debt £699.21

Total income £2215
Total outgoings £2115.50

Sorry to be brief - am trying to learn a new computer package and keep sneaking on here to have a peep i.e. I am procrastinating! Anyway can you answer the questions above?

Good luck - you can do it!

Skint-gall

roswell wrote:

Mortgage/Rent & builidng insurance- £561

I assume the insurance is with the mortgage provider, look into seperate policys you sould easy make a big saving here.

Building insurance is only £16, it was the cheapest when we shopped about.

Skint-gall

Annie_Fanny wrote:

Sorry to be brief - am trying to learn a new computer package and keep sneaking on here to have a peep i.e. I am procrastinating! Anyway can you answer the questions above?

Good luck - you can do it!

You mean Roswells question?

Annie_Fanny

Skint-gall wrote:

You mean Roswells question?

No I mean my questions highlighted in red...

Skint-gall

Annie_Fanny wrote:

No I mean my questions highlighted in red...

Sorry!
The Tv/ phone/ broadband is with Telewest. It is actually £36 per month but usually ends up being approximatley £60. Signed up in the summer for 12 month contract. We previously had phone and boradband with BT, SKy tv and Setanta sports which in total cost of £100.
The o2 contracts are for 18 months each. Mu husbands will expire in May 2007 and mines will expire Nov 2007.
The smoking I totally agree but he says that its the only thing that keeps him sane. He has cut down from 20 per day to 6 or 7 per day. Never allow him to smoke in the house.

roswell

Phone telewest and ask them to suggest a package that suites your needs eg free evening call or unlimted local calls, the wong package can be a lot more expensive than the one that meets your needs.

Skint-gall

Thanks will ask husband to do that tomorrow as account is in his name

lizzie12_2

Hi

When your o2 contract runs out could one of you transfer to PAYG ? I only put a tenner on my phone every month and when it runs out..... too bad. I only txt with it anyway, so lasts a bit longer.

Skint-gall

lizzie12 wrote:

Hi

When your o2 contract runs out could one of you transfer to PAYG ? I only put a tenner on my phone every month and when it runs out..... too bad. I only txt with it anyway, so lasts a bit longer.

Yes I think my husband will change to PAYG as he dosn't use phone as much as me. He really got a contract phone as his old phone was goosed!