not like moozie!! - i just don't get debt

scaredy_cat_2

miggy wrote:

I had trouble with this for ages - then upgraded something or other on the PC and now I can do the spreadsheet, just can't save it! Do you have the latest version of Internet Explorer? I am using Firefox but noted that MSE works best on IE.
WRT your spending diary, that will soon give you an idea of what's going on food, clothes etc. Don't panic about not knowing exactly, that will come, and after all your sterling work on reducing food bills last year you are already in a position of strength compared to this time a year ago.
May I suggest you find a 'positive project' for today too? Even if it's just taking the kids to the park or letting them help you with some cooking from scratch. I think money saving is about doing positive things, not just cutting back, and you'll be giving your little ones a skill for life. (And the exercise is better than sitting in front of a spreadsheet all day.)
Best of luck with it all and do let us know how it goes.

thanks miggy - i do have ie and latest version but still have problems - i do have martins book so will refer to that - i shan't let it stop me - i will do this when dh gets home from work as i wouldn't stand a chance with a 3 and 1 year old!!

thanks for suggestion of positive project - we do often cook and are still working through christmas biscuits but i think its a good idea so we will make our own play doh instead of edible - although dd2 thinks this is edible too yuck!!:rotfl:

and then i think we should also go for a walk

thanks, for ideas

Wizwoo

Hi scaredy cat,

Well done for all your efforts so far. What I found that helped was to keep a spending diary - really helps to focus on what your spending. Might help in terms of really tackling your food bill. Don't forget to keep an eye on the Old Style board for advice on this.

Plus once you've "switched" where you can on your bills look at the direct debits total then set a budget of a monthly spend for what's left - maybe move that amount to the A&L and only use that for your day to day spending. This again will help you keep track of what your spending the money on.
For example if the bills (direct debits) come to say £1000 per month and you have £500 left move maybe £400 leaving £100 to pay off the cards / debts (that's just an example). Once you know that you can cope on £400 a month (or whatever figure you come up with) any extra you do make can go straight off the debt.

Good luck x

miggy

scaredy_cat wrote:

thanks miggy - i do have ie and latest version but still have problems - i do have martins book so will refer to that - i shan't let it stop me - i will do this when dh gets home from work as i wouldn't stand a chance with a 3 and 1 year old!!

Sorry I don't have any more suggestions but until you sort it out, keep on with the book. I found that very helpful.
If the kids have made enough biscuits, it's very entertaining getting them to butter their own bread - or have you already discovered this?
(Oh, the memories! My youngest is eleven and I still remember toddlers buttering bread! Not for the faint hearted.)
I hope today goes well for you.
Edit: - the playdough is a great idea!

scaredy_cat_2

hi just had virgin cc statment through 1st month on 0% and before coming here we had signed up to card protection - but typical us didn't really listen to cost and it is £29 this month!! do i really need this? I am sure it is covered in house insurance so will check that later but seems like paying interest without the interest!! nothing will be cleared off balance while 0%

:j have managed to download and start using the budget planner and read martins how to work out stuff using last 3 months statements. Also saw soutnernscoursers tips on soa so thanks for that - feel like i understand now what to do to work all this out.

am using up all store cupboard things and buying minimum in shops and using spending diary. will continue with soa tonight hadn't really appreciated how long was going to take and to do budget too - but for the 1st time will be altogether and sorted ready to attack and i can see what i spend the money on,

scaredy_cat_2

miggy wrote:

Sorry I don't have any more suggestions but until you sort it out, keep on with the book. I found that very helpful.
If the kids have made enough biscuits, it's very entertaining getting them to butter their own bread - or have you already discovered this?
(Oh, the memories! My youngest is eleven and I still remember toddlers buttering bread! Not for the faint hearted.)
I hope today goes well for you.
Edit: - the playdough is a great idea!

we did the buttering bread today - great half hour activity leading up to lunch and dd1 has rarely eaten that much of a sandwhich i make!!

Am realising i also make lots of trips to supermarket - even if i only get whats on my list i still have made 3 trips in 2 days - something to address in my food plan.

a few people commented on next account - am going to do 2 days supply teacihng next week - this will be used to clear my account and i am then going to close it, i will then visit next clearance perhaps twice a year (its about 100 miles away but at a clearance shopping centre) after sales - feels good already to know that i am doing something and this account will be cleared and closed

scaredy_cat_2

well, i read both southern scousers list and martins advice in budget planner as i haven't been keeping a record of spending at all , so i have used the last 3 months statements (sept, oct, nov) and worked out an average plus including things i know for sure. some of it is a bit Hazy e.g with cheques as just don't know what they are for :eek:

i would really love some help but can already see some things - someone had suggested paying off next - i am working 2 days supply teaching next week and this will pay my next account which will then be closed. In feb and mar i won't have to pay council tax so will put £208 towards o/d

2 adults 2 children

Monthly Incomings:

My salary - 0 (but i will be doing some supply teaching so could be £300)
Partners salary - £1237
benefit - £520 (this will go down soon)

Total - £1757

Monthly Outgoings:
Food £515 (this was 21 visits to supermkt, includes cleaning, toiletries, nappies etc and possible cashback) 22 visits!
Mortgage £541 (we are having a 4 month payment holiday starts end jan
Water £70.50
council tax £104
tv licence £11.37
house insurance £33
phone £30
subscription £2.50
Norwich union life cover £17
british gas electric £59
british gas £20
bg service contract £26
orange internet £17.99
swimming £35
fuel £50
car ins, tax,mot (using martins budget) £50
Total: £1582.36

on top of that there are other things that i would never have included but having used martins budget spreadsheet here they are

birthdays £26
christmas £50 ( i do actually save this each month)
hair £100
photos £10
leisure and family days - found this hard to calculate as we don't actually do loads costly things but perhaps around £20 i have overestimated rather than under
interest on o/d £20
bank charges £30 i am in process of reclaiming just under £900

windows £3.50
wheeli bin £2.50

all of these totals £242

so a grand total of 1824.36 :eek:

its worse than i thought combined with debts which i will cut and paste from my earlier posts - no wonder i am o/d as i haven't even included loans and cc in the above
First Direct Loan originally £6000 over 66 months at 6.9%
Monthly payment £109.02 and 41 payments left (so £4469.82) but resettlement figure today is £4048.27. They say I can’t make overpayments on this.

First Direct 0/d (not quite sure as just put £700 on halifax for this) £2600 approx

Next directory APR 26.49% £150 generally pay minimum payment on this

Scottish Power (old gas bill) from transfer mess up £268.64 paying £30 a month

Graduate loan – Barclays resettlement figure £4503.92 an enormous 72 payments left at £78.77 at 7.9%

Husband’s o/d we think this is still 0% but will clarify. it is £1907

virgin cc just transferred 0% £2600
Halifax cc just transferred 0% £765

MIL 0% £2000

so £18874


also have mortgage and dh student loan comes out of his wages but i can't even go to these yet really


i feel sick and just need to sort this out - i do not want to live like this anymore - its pants. how can i have been so stupid and irresponsible

summerday

Hio scaredy cat,

Sorry I have to dash in a mo but just wanted to say don't be too harsh on yourself, yes you've made mistakes with money but you're facing up to the situation and things will only get better from now on I promise.

You're doing exactly the right thing by trying to guage exactly how much the debts are and to whom, only then can you make decisions.

From what you've posted there will be loads of opportunities to cut your grocery bill, if yuo look on the old style board there are loads of tips on cleaning using natural products like vinegar and bicarb that cost pannies, and if you plan meals carefully and use lots of own- brand foods your food bill can be slashed. I live with just my partner and we only spend £100 total for all our food and cleaning stuff.

It's very likely that switching away from British gas will save you cash too.

Sorry I really must dash now I just wanted to say to you please don't worry, you really will sort this out, it feels awful now but in a years time you will look back and feel much more in control and hopefully have wiped out lots of the debt.

Keep posting here for lots of support,

sarah xx

scaredy_cat_2

hi i am doing a new thread showing my soa as the first post i think my whinging first post would put me off looking!!!

miggy

scaredy_cat wrote:

hi i am doing a new thread showing my soa as the first post i think my whinging first post would put me off looking!!!

I will look for the new thread tomorrow - meanwhile just wanted to say well done for the SOA and I think paying off the Next account is a great idea. So are the transfers to the 0% cards.
Saraht's advice sounds good.
If I come across your new thread and none of the more experienced DFWs has found it, I'll bump it till they do.
Meanwhile look at people's signatures - many have had larger debts than this and are winning the battle. It can be done!
And the bread-buttering session sounded fun, I hope most of the butter went in the right direction!