My SOA

elsiepac

Hiya

Just wanted to pop on after reading this thread. I just had a small query on your SOA - you have put the car values down as £700, presumably for both? Is this right? And yet you are paying £200 a month which doesn't finish until next year?

This just seems a bit out of whack...

The other thing is, are your phones on O2 at all? If so, they'll offer a landline for existing customers at about £7.50 (no hidden BT charges in background) and also broadband on that line (20 gig limit) for £8.50 but with the first three months free on a 12 month contract... worth considering if applicable.

Good luck with everything

LC x

elsiepac

Hiya just a quick one from me

Re your home phone and internet - are either of your mobiles/dongle on O2?

If so you can have a basic phone line for £7.50 and 20 gig broadband on that line for £8.50 (totalling £16.00) however the first 3 months of broadband are free.

Worth considering if possible...

Good luck with everything

LC x

elsiepac

Sorry - duplicate message there, thought it had "lost" the first one!

LC x

tilly2484

LC- I was confused with the car part. Basically last year when my partner and me lost our jobs he got rid of his newish car and bought an old banger- that's the £700 one. Mine is a ford focus- i've paid 4 years worth and have 8 months left- another reason why i don't want to get rid as I'm nearly at the end. But i didn't put it as an asset as I don't technically own it yet- not sure if that is right or wrong?
Not on O2- sounds a great deal though. Thanks :-)

Megadebtor

Hi Tilly2484,

I don't know when you'll be needing the third bedroom, but maybe you could sublet it for the first couple of years and have the baby sleep in your bedroom or in the room that is currently your office. You might be able to re-locate the office to another area of the house.
You can currently earn up to £4250 tax free by subletting a room. Also, I'm someone who doesn't like to share the house with strangers really but 'needs must' and it won't be forever.

If you live in or near a university city you may be able to register with a language school and become a host to foreign language students. I do that and spend the summer sleeping on my sofa with my dog on the floor, the cat in a corner somewhere, whilst both my bedrooms are rented out. And my house is tiny.

If you live in a rural setting you could try to advertise a B&B service for the room. I've stayed in lots of people's small terraced properties and you don't need a huge house to do that.

tilly2484

Due to our contract we are not allowed to sublet a room. The last tenants were thrown out because of that. Plus the room is already pretty much set up. The office room is very small and would not fit a bed in unfortunately. it just has my computer desk in and a shelf of books.

To get some extra income I am expanding the cake business and will be starting to offer vintage china hire and tea party packages. I've already done a few and they seem very popular:D

Also with my job relocating they are paying us over the odds for our petrol. I will be getting about £750 extra each month for 6 months. The petrol will cost me about £400 but i am car sharing with a colleague so should only be about £200. The rest can go to paying off some chunks of debt and to pay for our winter fuel order.

RAS

The priority is to get rid of the debt with the highest APR - I think you have vanquis?

tilly2484

Yes the vanquis is my OH. My actual debts are the First Direct, Barclaycard and Santander. The others are his but we have pooled them together to work on them.

I'm aware of the snowball. We actually used that last time and that helped clear £10k. Can I use it now? It's because i'm not making the min payments. Or do i just put in the money i have left after all outgoings and do it that way?

elsiepac

tilly2484 wrote: »

LC- I was confused with the car part. Basically last year when my partner and me lost our jobs he got rid of his newish car and bought an old banger- that's the £700 one. Mine is a ford focus- i've paid 4 years worth and have 8 months left- another reason why i don't want to get rid as I'm nearly at the end. But i didn't put it as an asset as I don't technically own it yet- not sure if that is right or wrong?
Not on O2- sounds a great deal though. Thanks :-)

Hi again

I was slightly wrong in what I said earlier. To get the landline you don't need to be an O2 customer. To get the broadband, you need to have the landline. I'm surprised it isn't more highly publicised to be honest as it's a very good deal and much cheaper than BT. I came across it after doing some research for my dad, and saved him £35+ a month as he had some ridiculous BT package that they hadn't analysed properly. (I don't work for O2 by the way!!! :rotfl:) It's one good way to reduce the telecoms side of your outgoings (which is my area...) as long as you are out of contract. You can keep your number.

LC x

eschaton

How can you have such high debt and so little assets?

Where has all the money gone? This might be your problem?

Have you got rid of Sky TV yet? If not you have still to see the light...