Starting DF calculations all over again

frugglewump

So £2k extra activities pay from work I was due in June is late.
My university did not implement the nationally agreed payrise in september
I never included my overdraft in the debt-free calculations and the bank has put the APR up & started charging me where they let it slide before.
Then today I get that cahoot email about the jump to 14.9% on their flexible loans.

Grumph, I thought I was doing well but now I think I was kidding myself.

In all honesty I think I was hanging too much on the £2k coming in & allowed little things to creep into the budget so I've essentially pre-spent it. Also I underestimated the £ involved in minor repairs to the house

So - new SOA:

Income: £1678.97 (season ticket loan deducted at source)

Mortgage: £450 - 5.75% interest only until Feb 2009
Mortgage Insurance: £13.18
House & Contents insurance: £30.05
Life Assurance: £5.03

Council Tax: £122
Gas: £25 (estimate as just switched)
Electric: £25 (estimate as just switched)
Water: £10
Tv : £10.99
Telewest (cable/BB/phone) £35 (£5 is calls/month)
Health insurance: £54.18
Pet insurance: £18.18 (£0 excess)
Total: £798.61

Student Loan: £67.15
Egg Loan: £253
Barclaycard: £75
Post Office card: £300 (overpayment)
HSBC card: £6
Total debt repayments 701.15

Food: £80 (rest paid by OH)

Overall total: 1549.76

Should leave about £100/month for unexpected expenses with the leftovers going into savings for xmas & birthdays. The savings for xmas, however, are only £50 from quidco.

Barclaycard 6.9% L.O.B £1817.04
HSBC 18.9% £450
Post Office £2983.57, 0% until January then 14.9%

Egg Loan taken out to replace Cahoot & overdraft
£8700, 7.9%, payments start in January 36months. Can overpay anything I choose & overpayments reduce the term


Overdraft facility reduced to £500, hopefully unused

Tied into Telewest until 12th March 2007, when switching to freeview & back to BT, will keep the BB at £17.99/month because of unlimited downloads necessary for working from home on my research.

The £2k will arrive eventually - I have the contract for the work, but no idea when so I'm pretending it doesn't exist anymore. When it does turn off it'll all go straight onto the highest apr

bananakinz

Its always good to re evaluate your situation, it keeps you focused. I think its best not to think about money that is due to you until it is in your hands so to speak!

Is it worth applying for another card to BT your post office one in time for the 0% to run out?

frugglewump

bananakinz wrote:

Is it worth applying for another card to BT your post office one in time for the 0% to run out?

I applied for the M&S card last week to try and use the LOB, but was turned down. With that & the successful loan application from this morning on my file I think I'm probably going to have to wait a couple of months before looking for another 0%

I do have the Egg Money at 7.9%, with £0 balance, but they reduced the limit to 1k because of the loan.

I should be able to move £500 over to barlclaycard 6.9%. I could try for a limit increase there I suppose (not too optimistic though).

lynzpower

Income: £1678.97 (season ticket loan deducted at source)

Mortgage: £450 - 5.75% interest only until Feb 2009
Mortgage Insurance: £13.18 ( is this the cheapest?)
House & Contents insurance: £30.05 ( this seems super high, sure its the cheapest? I pay 22 for both with CIS inc legal cover I dont think even Ive got the cheapest!)
Life Assurance: £5.03

Council Tax: £122 ( single person discount?)
Gas: £25 (estimate as just switched)
Electric: £25 (estimate as just switched)
Water: £10
Tv : £10.99
Telewest (cable/BB/phone) £35 (£5 is calls/month) (do you need the telly bit- you can save a tenner pcm here I reckon)
Health insurance: £54.18 ( this is HIGH, do you NEED this, could you get it cheaper elsewhere?)
Pet insurance: £18.18 (£0 excess) ( again, can you get it cheaper elsewher)
Total: £798.61


You havent added, food presents, medical dental or any of those things?
is there a reason for that?

HTH
Lynz
xx

frugglewump

lynzpower wrote:

Mortgage Insurance: £13.18 ( is this the cheapest?)

It was when I took it out in March. It's the one from Martin's article

House & Contents insurance: £30.05 ( this seems super high, sure its the cheapest? I pay 22 for both with CIS inc legal cover I dont think even Ive got the cheapest!)

It's higher because I work from home 3 days a week and has to cover the university laptop etc. I asked them if it would be lower if i didn't bring anything home & they said no.

Health insurance: £54.18 ( this is HIGH, do you NEED this, could you get it cheaper elsewhere?)

London pricing - you'd think with more facilities it would go down not up.
It's with PPP & I've had it since I was 8 years old. I'm loathe to drop it because they can't argue the pre-existing condition clauses - even my eyesight was fine until 11 (WHY isn't there a no-claims bonus).

I'll look into it - I'm sure there are cheaper ones out there, I'm just paranoid since OH has no insurance & developed colitis.

Pet insurance: £18.18 (£0 excess) ( again, can you get it cheaper elsewher)

No cheaper for the breed - this is with M&S and I've already claimed £40, although only had the dog 2 months

You havent added, food presents, medical dental or any of those things? is there a reason for that?

Food was lower down : £80
Presents come out of the £100 allegedly left over each month. Other than my OH I only have 3 people to buy for.

No idea how to budget for the dentists. Checkups are £17 each time, but how do you budget for fillings etc when they are random.