Im A Debt Free Wannabe!

sheryldoc

The time has come to take the challenge and get myself debt free!

Im going to get a list of all my debts and outgoings and also income coming into the house and hopefully make a start on being debt free.

:T :T

Already I feel like a weight has been lifted so if you lot will have me id like to join the club

loneranger

Hello and welcome, Its a long road but you've taken the biggest step now enjoy getting in control, Its a great feeling.

moozie_2

Hi there and welcome!

I look forward to your SOA

yung

welcome to DFW , having taken the first step, now post you S.O.A

sheryldoc

Im working on my SOA as we speak, however its going to be difficult as it is due to change significantly in Jan as I will be starting Uni and going back to work (I am currently on Income Support).

Should I jst deal with the present at the moment?

dizzy_lizzie

sheryldoc wrote:

The time has come to take the challenge and get myself debt free!

Im going to get a list of all my debts and outgoings and also income coming into the house and hopefully make a start on being debt free.

:T :T

Already I feel like a weight has been lifted so if you lot will have me id like to join the club

#

Well done sheryldoc. I've just started posting though I read all the advice given on the forum. It's an amazingly supportive place. Maybe you can join in with the December grocery challenge. That's my next step. Good Luck. x

sheryldoc

MY SOA

EGG LOAN - Balance Remaining £226.53 ENDS Jan 07
EGG LOAN 2 - Balance Remaining £382.29 ENDS FEB 07
EGG CC - Balance £1182 Limit £1250 - 16.9%
BARCLAYCARD VISA - Balance Remaining £678.20 Limit £750 24.9%
OVERDRAUGHT - £750
CAR - £2000 approx ( was stolen & wrote of while on finance however insurance didnt pay full amount!)
ACE - Balance £146 24.9%
LITTLEWOODS - £186 (INT FREE)
MOTHERCARE CARD - £80 19.9%

TOTAL DEBT

£5631.02 :eek:



Monthly OutGoings -

Car (one mentioned above) £115 to DCA
Car Ins - 70
Gas/Elec - £40 Combined
NTL - £40 (TV, Phone & BB)
Mobile x 2 - £30 Combined
TV Licence - £34 1/4ly
Ace - £10
Barclaycard - £20
Laptop - £17.99
Laptop Ins - £7.99
Rent - £40
Mothercare - £10
Petrol - £40
Shopping - £250
Fine - £40
BF Getting to Work - £150 (£5 perday)
EGG (LOANS & CC) - £220
Littlewoods - £15

TOTAL

£1150

MONTHLY INCOME

£800 (avarage depending on OT)
£260 Income Support
£180 Child Tax
£70 Child Benefit


TOTAL

£1310

I hope I have done this right.. its been an eyeopener!

I am 22 years old I live with my BF also 22 in private rented house we have a 2 yr old son. I am about to start my nursing degree in Jan and need to start dealing with this now!

Also - I am not in arrears with any of the debt with the exception of the car although this is being paid at an agreed set amount each month.

System

Well done - welcome!

James&Shell

Just wanted to say hi and welcome

bride2be2006

Hi there and welcome! Good Luck with everything the people on here are great, very friendly and helpful

Verbatim

Hi and welcome,

Only thing that strikes me is the shopping. I'm guessing from the amount of child benefit that you have 1 child so are shopping for 3. It may be possible to whittle this down a bit and you could have a look at ideas over on the old style board for menu planning etc. Doesn't look like you have a lot to cut down elsewhere unless the car could go? Otherwise is phone and broadband inclusive of calls?

Out of cuiosity what is Ace??