Buddiebabe begins again

buddiebabe

Hey

For those of you who read my previous diary thank you and to any newcomers welcome.

I have decided to start a new diary as my debt has increased again and i cannot allow myself to be dragged down deeper into debt. This diary im hoping will spur me on to having a fresh start and a better insight into my debt and life.

I really need to begin with giving you the total debt picture so here goes:

I have an overdraft of £100 which i do not use i have this available for any emergencies that may crop up but the intention is not to use this.

I have one loan which i pay £251.04 to every month and is due to end in September 2012

I have 6 credit cards (2 of which are closed) the other 4 i have the cards for 2 of them but i am going to need to remove them from my wallet.

I also owe my OH money for car insurance and a gas bill

and finally i owe our wedding fund money too.

I will go and get my figures sorted out and then will post the total of my debt.

Buddiebabe x

buddiebabe

Here is the debt as it stands today:

LOANS:

RBS LOAN £3765.60

CREDIT CARDS:

RBS M/C 1 £9756.44
RBS M/C 2 £5989.82
DEBENHAMS £1150.00
MBNA £3682.80
TESCO £2090.00
SANTANDER £390.00

OH:

GAS BILL £80.00
CAR INSURANCE £120.00

WEDDING FUND £439.42

TOTALS:

LOANS £3765.50
CREDIT CARDS £23059.06
OH £200.00
WEDDING FUND £439.42

TOTAL DEBT OUTSTANDING £27464.08

So there it is in its entirety... all my bills and direct debits are paid this month which means i am starting June knowing exactly what i owe out.

I just need to figure out what i have have available to use and then work out a SOA and some kind of budget and plan to start re-paying this..... you would think after years of being on this website i'd be in a better position than i am but i don't seem to be getting anywhere fast and i can't get rid of the bad habits i have picked up.

But this diary is not about the past it is about the future and is only allowed positive stuff!!!

Going to go put my debt into the snowball calculator and see just how bad things are.

Buddiebabe x

buddiebabe

Ok well not as bad as i had first feared! The snowball calcuator says that if i pay £800 to my debt every month i will be debt free by August 2015 which is 51 months away!

Im actually quite happy with that it means that i will be 37 and i'll still have plenty of time to do the things i want like get a new house, start a family and go on holiday.

Im getting married 16 weeks today and the majority of it is saved up for so no additional debt should be incurred for it... i just need to repay what i have borrowed out of it before September so that is one of my first priorities.

My incomings do not meet my outgoings and there are very few areas i can cut down. I need to do a SOA next so am off to find the template!

buddiebabe

Statement of Affairs and Personal Balance Sheet
Monthly Income Details
Monthly income after tax................ 1403.25
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 65
Total monthly income.................... 1468.25

Monthly Expense Details
Mortgage................................ 306.4
Secured/HP loan repayments.............. 95.30000000000001
Rent.................................... 0
Management charge (leasehold property).. 8
Council tax............................. 120
Electricity............................. 48
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 11
Mobile phone............................ 30
TV Licence.............................. 12
Satellite/Cable TV...................... 20
Internet Services....................... 6
Groceries etc. ......................... 120
Clothing................................ 0
Petrol/diesel........................... 230
Road tax................................ 0
Car Insurance........................... 20
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 25
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1051.7

Assets
Cash.................................... 0
House value (Gross)..................... 55000
Shares and bonds........................ 0
Car(s).................................. 500
Other assets............................ 0
Total Assets............................ 55500

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 48414....(306.4)....4.78
Secured Debt.................. 15046....(95.3).....4.78
Total secured & HP debts...... 63460.....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
RBS LOAN.......................3765.6....251.......0
RBS MC 1.......................9756.44...225.......23
RBS MC 2.......................5082.98...130.......23
SANTANDER......................390.......10........18.9
TESCO..........................2090......45........19.7
MBNA...........................3682.8....110.......22.25
DEBENHAMS......................1150......35........20.34
Total unsecured debts..........25917.82..806.......-

Monthly Budget Summary
Total monthly income.................... 1,468.25
Expenses (including HP & secured debts). 1,051.7
Available for debt repayments........... 416.55
Monthly UNsecured debt repayments....... 806
Amount short for making debt repayments. -389.45

Personal Balance Sheet Summary
Total assets (things you own)........... 55,500
Total HP & Secured debt................. -63,460
Total Unsecured debt.................... -25,917.82
Net Assets.............................. -33,877.82
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.

buddiebabe

Ok so there is my SOA

It doesn't look good and that was cutting back on some details. The items higlighted in red are things that we need to pay for but at the moment i do not put any money away for these things and i tend to borrow the money from my OH when i need to and then pay him back... which is maybe not the right way to go but at the moment its all i can do.

We are saving for the wedding at the moment so every thing is really on hold until that is past (16 weeks today) its not an extravagent wedding and we have had help from both sets of parents for it but there are things we need to pay for and so we are saving every week for that. Once the wedding is over i will have an extra £55 a week that can go towards my bills and debts.

I also make a bit of money from ebay and my mum does avon and if i get any orders from my work i get the commission so i do get some extra cash coming in just its not guaranteed!

My OH gives me £100 a week towards bills (he has no debts, well he has a student loan that he repays when he does overtime at his work) so he does not contribute to my debt and i wouldn't ask him to. He pays his share but at the moment im using the money he gives me to save for the wedding but i have added £120 into my SOA against food but have forgotten to add it in against income as well so its not as bad as it first looks.

Also looking at it again there are some things missing:

Love film dvd subscription £4.07
HSA £10.53
Sky warranty £9.00
Aviva (insurance) £13.91

So i didn't really make a good job of filling it out did i

Never mind its still bad as my income does not cover my outgoings but to be honest it never really has!

I always manage to pay everything... it just takes a bit of juggling... This diary is going to keep a track of my spending, debt reduction and progress with - operation get house in a liveable state (it's a bit of a mess.... in fact it looks like we've been burgled but nothing taken)

Here is my to do list for today:

- Locate all bank account books / paperwork and see if i have any money in them
- empty piggybanks and count loose change
- check old lottery tickets lying around house (there are a few of these )
- take washing out machine
- take clothes of drier
- tidy box of paperwork at side of bed

Am going to go get started

Wish me luck

Buddiebabe x

Seaxwyn

That looks really tight. Have you got any brainwaves for cutting costs? Cancelling lovefilm and satellite/cable TV could be a start. Petrol costs look high - any way you could reduce any of those journeys?

Good luck with it!

buddiebabe

No brainwaves at the moment i think im just going to continue to plod along with a bit more emphasis on not spending and trying hard to get the house into a liveable condition without spending any hard earned cash.

The past month we've had to pay for our share of our neighbours property being fixed £175 then the car had a service which was £185 and when i looked through my paperwork this morning i realise the MOT is up on the car next Sunday so will need to get it booked in one day this week which means using a holiday from work as it takes too long to get the bus and if i get the train i need to change stations so a 40 min journey takes nearly an hour to an hour and a half which is why id rather take the day off than go either of those routes! It also explains why the petrol is so high. The money i would save by taking the bus or the train would cost me my 2nd job as i wouldn't be able to get in on time.

I still have a lovefilm dvd in the house so will get that in the post on Tuesday (shut 2moro due to the holiday) and i will email them this afternoon requesting account closed... don't think they will do it until DVD returned but i can only try.

I know its not a lot to save but its one less thing to pay out every month.

I've just remembered i need to make a claim on my HSA which will bring in another £22 going to try and find a claim for

Buddiebabe x

buddiebabe

Hey

Well i didn't manage to get my list done! I did do the following:

- 2 loads of washing
- emptied the tumble drier
- cleaned the bathroom from top to bottom
- cleared out the fridge
- cleared out the freezer
- cleared part of the kitchen
- hoovered, cleaned and tidied the hallway

Thats all more than i've done in the past few weeks so am quite happy with what i have done and none of its been money related so it was good to take my mind of that for a while.

Going to go enter some competitions for a while

Buddiebabe x

buddiebabe

Well i have checked my accounts to put down what my outstanding debt is at the 1st June 2011 (i know its now the 3rd)

I have made a complete mess of the actual totals i posted.... i had written things down in my book and what i thought was a 5989 for my RBS M/C 2 is actually a 6989 :eek: and is now 7108.17 so my outstanding debt is more than a thousand more than i thought it was and i feel sick to the stomach as i now owe more than i did when i joined this website all those years ago :(:(:(

Im actually wondering just what the point is anymore... i've been scrimping and saving and getting nowhere fast at all in fact i've now totally screwed up all the work i have done in the last few years and i just dont want to be here anymore.

LOANS:

RBS LOAN £3765.60

CREDIT CARDS:

RBS M/C 1 £9756.44
RBS M/C 2 £7108.17
DEBENHAMS £1150.00
MBNA £3682.80
TESCO £2090.00
SANTANDER £390.00

OH:

GAS BILL £80.00
CAR INSURANCE £120.00

WEDDING FUND £439.42

TOTALS:

LOANS £3765.50
CREDIT CARDS £24177.41
OH £200.00
WEDDING FUND £439.42

TOTAL DEBT OUTSTANDING £28582.33

The worse part of it is that my credit limit on my RBS M/C 2 is only £6000 so i know im going to be charged for being over the limit and the thing that annoys me about that the most is why did they continue to let me spend on my card when they knew i didnt have the available credit to do it??? Now i know its my own fault i didn't have to spend the money well i didn't so i have no one to blame buy myself.

Am going to try and sleep although with numbers like that its not going to be easy

Buddiebabe x

chevalier

First of all if you hadn't been trying to get yourself straight for these few years you would almost certainly be in MORE debt than this now.

Second you would have just put the wedding on credit cards or a loan, rather than having it all just about paid for. So give yourself credit where it is due.

Ref the debts. The thing that stands out for me is the APR's on your cards. I take it that you can't get a low LOB card to transfer some of that debt to?

The alternative would be for your OH to take out the card and then you transfer the high apr debt to it, and you them pay it off quicker because the APR will be lower?

Does he know the full extent of your debts? How much of it has been for joint purchases like things for the house, food etc. You say that you wouldn't ask him to help pay your debts off but if he has benefitted from things you have bought, then perhaps you might want to reassess this.
chev

buddiebabe

Hey

Thanks Chev i will have a think about everything you have said and re assess the situation on Sunday when i have a bit more time.

Well feeling a bit brighter this morning... the sun is shining and im off work today... am working in 2nd job tonight but its not that bad.

The car was put into the garage last night to get an MOT done today and i've had a phone call to say that its passed and its £62.03 all it needed was a new wiper blade. I guess im just going to have to live with the noise that lurks under the car... if it was anything serious they would have found it.

I phoned and cancelled my love film dvd subscription as we don't need it.

I have worked out what i have left in the bank and have put £45 away for my Tesco Credit Card (statements due out 2moro) and i have put away £50 towards my RBS M/C 2 direct debit which is due 16.06.11. This has been transferred to my savings account (which i can only access through the internet) so i cant actually withdraw the cash i would have to transfer it back to the account. I am going to start taking my wages out the bank when i get them. I have left enough in to pay the 2 direct debits that are due at some point over the next week.

I still need to get petrol and food but i have enough petrol to get me to work for the start of the week so i will see how much money i have left and then put some in on Wednesday. Im going to see if working with cash is going to be any easier for me.

It means i know i cant switch anything as there is not enough money in the bank to cover everything. I have also taken my credit cards out my purse so all i have is my debit card and loyalty/discount cards.

I am going to lift the cash out to pay for the car (my OH has already given me his share of this) then i am taking my OH for breakfast as he has done such alot for me lately that this is my way of saying thank you. I have the money to do this so its our treat for the month. We don't get the time off together usually so its not a regular occurrance and if we do go anywhere its always him that pays

I also need to go pay money into the wedding fund so will do that when am in town. We will walk into town, go for breakfast then go collect the car and go get the food shopping.... am hoping that if we have a big breakfast we wont need any lunch and then we can have dinner before i go to work tonight which should help with me trying to loose a bit of weight.

Better get out of bed.... don't want to waste the lovely day that it is

Buddiebabe x