Really Worried

dancingfairy

A few things that should help you:
1) start a spending diary - according to your SOA you have several hundred pounds spare a month to start tackling those debts.
2) how much do you have in a cash isa? the rate you will be getting on your savings is going to be pretty pathetic compared to the amount you are being charged in interest on your debts. In most cases it is best to put cash isa money towards debts. WHen the debts are more under control you can build the savings back up again. Obviously it is useful to keep some for an emergency and especially if your job is under threat but generally it's best to chucking any cash at the debts.
3) you've put your mortgage down/household bills down as 950 - your money may or may not be working hard for you - have you checked you are not paying over the odds for electric, gas, checked you are on decent mobile tariffs, check that you don't end up buying loads of food and chucking it out, any unwanted subscriptions you pay out for? Go through every bill and check you are getting value for money.
4) you are in a relatively good position with 300 pounds more coming in per month than going out so you don't need to suddenly stay in all the time and not do or buy anything - you just need to redirect some of that money to paying off the debts with a bit of careful planning.
Best of Luck
df

cymruben

Thank you muchly, I have been through all household bills, been onto comparision websites and swapped providers. I just want to get stuck in and sortign them out now, spent the whole day going through everything!

CH27

cymruben wrote: »

Thats what I used, the mortgage repayment bit includes all household bills,and my partner pays food etc

Have you included your partner's income into the SOA?

cymruben

No, finaces are seperate apart from joint account for household bills

climbgirl

I would consider using the money you're putting into savings to pay off the credit cards faster. The interest you're paying on the cards is much, much higher than anything you're earning.

And if you want the savings as an emergency buffer, you can always use the credit cards if you absolutely had to (broken boiler etc, - genuine emergencies, not just things you want!)

What about things like entertainment and spending that's not so easy to track? You earn a very good salary so clearing this shouldn't be too hard. If you don't know how much you spend on stuff like this, keep a spending diary for a month and write down every penny you spend. It'll be an eye-opening experience!

CH27

cymruben wrote: »

No, finaces are seperate apart from joint account for household bills

Have you split the bills on your SOA?

katsu

I suggest you do the SOA showing bills etc so we can offer advice on those and understand the whole picture. You can add an income element to show your partner's contribution. Currently I don't understand how much of the 950 is spent on what - how much food, gas, utilities etc. Also, what about presents for christmas, haircuts etc.

Also, how much left owing on the loan (and car loan), how long to pay etc.

Do you have the amount of money listed above in your bank at the end of the month?