Living @ home and hating it

cassidy0111

Hi... I have moved back home after the end of a relationship. I discovered MSE whilst looking for a spending budget planner. I would like to record some things in a diary as part of this process. I hope that is ok!! I will start with some set amounts....

Monthly take home pay- £1699 (work as school teacher. Pension and student loan take a big chunk of my salary)

Credit cards....
Halifax Credit £2606 @ 19.95% APR
Santander Store £0 @ 29.9% APR

Hire Purchase
RCI Financial £13076(remaining) @ 5.9% APR (£276 per month)

Contribution to parents....
£200 per month (I buy and prepare my own food)

Mobile phone/internet....
£90 per month (this includes £45 per month for ex-partner)

Other expenses....
EIS union @ £12.30 per month (I need this for the legal cover it provides)

Gym membership @ £28.50 per month (I use this everyday for gym/swim)

Car Insurance last year was £628 (I pay this in full and use comparison) Due again in July

Car tax £215 Due again in September

Savings....
£400
(£50 per month Standing Payment to be used towards car insurance- i stick to this every month without fail)

cassidy0111

I am part of the one debt vs 100 days challenge.

I hope to clear £2606 Halifax Card. This challenge starts today. I will not quite manage the new interest but hope to pay £2606 and worry about the interest at the end of the challenge.

cassidy0111

Below is a copy of my post from the 100 days thread....

£2606 in 100 days. Will have pay days on...

Thursday 28.04.2011
Thursday 26.05.2011
Thursday 23.06.2011
Thursday 23.07.2011

I am sure that these are all within 100days, so will need £650 per pay day. (plus any money I can raise from ebay etc)

I have loads of things that can be sold (owing in part to the end of my relationship- I think I will make a start on this in the next few days)

Buffythedebtslayer

Just as a fellow person who lives at home (but for different reasons and I am fair bit older then you) I thought I would come and say hello

plus I am a teacher and on the 100 days thread

Budget and selling plans look good, keep going! and see you on the 100 days xxx

DCFC79

Good luck with it

cassidy0111

Buffythedebtslayer wrote: »

Just as a fellow person who lives at home (but for different reasons and I am fair bit older then you) I thought I would come and say hello

plus I am a teacher and on the 100 days thread

Budget and selling plans look good, keep going! and see you on the 100 days xxx

Thanks Buffy! I will follow your progress on the 100days and hope that I can stick to my plan!! Good luck!!

cassidy0111

DCFC79 wrote: »

Good luck with it

Thank you DCFC.

cassidy0111

I have just posted on the 1 debt vs 100 days thread...

I am strangely excited about my pay-day on Thursday. Not beacuse I want to treat myself BUT because I want to make my first debt repayment as part of this challenge. I have/will also...

1. Check around my bedroom for any money that is laying around. (I am very bad for emptying change from my pockets and forgetting it)

2. Check what is left in my bank account day before pay day and transfer this to the debt. (I have already started to watch my pennies so will have a little left in the account- maybe £40???)

I am currently planning my budget for May. It will be tight but I need a good start to my challenge!

Kerry78

I'm also currently back living at home, although I have a move out date at least! I've been back just over a year now and it was very tough at first, for both me and my parents to adjust to be back but I found it does tend to settle after a while. Good luck with it. It's never easy to move back after living outside of the the home.

cassidy0111

Kerry78 wrote: »

I'm also currently back living at home, although I have a move out date at least! I've been back just over a year now and it was very tough at first, for both me and my parents to adjust to be back but I found it does tend to settle after a while. Good luck with it. It's never easy to move back after living outside of the the home.

Hi Kerry! I know exactly what you mean regarding moving back home. I have not yet set a move-out date but think it might be something to aim for. I am on half-term holiday in October. This might be a good time to aim for moving out.

iwantahome

Hi Cassidy,

I just wanted to say good luck on your debt free journey. Living at home sucks big time when you have tasted freedom, but it will get easier and you settle in. Seeing your debt decrease will be a great motivation to stay there and not blow all your money on rent. It worked for me and a few others on here. And once your debt is gone the saving for a deposit or whatever will be your motivator to stay.

And no being excited about paying off a debt is not sad, it is growing up and taking responsibility. Stick at it.

IWAH