Newbie

ncs1975

Hi there,



Fed up with never decreasing debts!! Need some focus to become debt free!


Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 1
Number of cars owned.................... 2
Monthly Income Details
Monthly income after tax................ 1080
Partners monthly income after tax....... 1625
Benefits................................ 129
Other income............................ 0
Total monthly income.................... 2834
Monthly Expense Details
Mortgage................................ 550
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 151
Electricity............................. 97
Gas..................................... 105
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 95 includes phone, broadband & tv
Mobile phone............................ 35
TV Licence.............................. 12.37
Satellite/Cable TV...................... 0 as above
Internet Services....................... 0 as above
Groceries etc. ......................... 250
Clothing................................ 30
Petrol/diesel........................... 250
Road tax................................ 35
Car Insurance........................... 40
Car maintenance (including MOT)......... 40
Car parking............................. 5
Other travel............................ 5
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 5
Pet insurance/vet bills................. 20
Buildings insurance..................... 26
Contents insurance...................... 0
Life assurance ......................... 70
Other insurance......................... 50
Presents (birthday, christmas etc)...... 10
Haircuts................................ 20
Entertainment........................... 20
Holiday................................. 20
Emergency fund.......................... 20
Total monthly expenses.................. 1911.37

Assets
Cash.................................... 0
House value (Gross)..................... 140000
Shares and bonds........................ 1000
Car(s).................................. 6000
Other assets............................ 0
Total Assets............................ 147000

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 105000...(500)......4
Total secured & HP debts...... 105000....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
car............................6700......100.......0
cc1............................6200......70........0 until may 2011
cc2............................2800......60........16.9
Total unsecured debts..........15700.....230.......-

Monthly Budget Summary
Total monthly income.................... 2,834
Expenses (including HP & secured debts). 1,911.37
Available for debt repayments........... 922.63
Monthly UNsecured debt repayments....... 230
Amount left after debt repayments....... 692.63
Personal Balance Sheet Summary
Total assets (things you own)........... 147,000
Total HP & Secured debt................. -105,000
Total Unsecured debt.................... -15,700 :mad:
Net Assets.............................. 26,300

hypno06

Welcome aboard - you have come to the right place for good ideas and to get that focus.

First glance shows that you have enough on paper to pay everything....but presumably the reality is somewhat different? Now would be a good time to start a spending diary to write everything down, every single penny, that you spend, in order to see exactly where your money is going. Then you can see what you need to tackle.

Good luck - you will get there!