My Debt Diary

clarab_3

Hello all - been posting a while now but new years resolution is to really get on top of this, and part of the plan is to use this diary to keep me on the straight and narrow. All comments are welcome and appreciated.

SOA then.

I have an income of £1750 net per month.

Outgoings:
Mortgage - 470
Council tax - 100
utilities - £65 (yes this is ridiculously hight but i was in arrears with my electricity and they allowed me to spread the cost over the next 12 months)
mobile phone - 40 (for work unfortunately - not a lot I can do)
tv licence - 12
insurance - £12
factors - £30
public transport - 50
food and groceries - 150

total - £929

Debt
Cahoot loan :mad: 14.9% balance £8000 - £181.00
Egg Loan 7.66% balance £7974 - £134 (woohoo! just realised it is under £8000mark!)
Halifax card - frozen balance - £1912 - £60
Capital one - £200 - £12

total £387

total outgoings - 1316

There are also 3 "one off debts" to be paid before I can really weigh into overpaying the above debts.

Parents £450
Scottish power £250
Student loans £450.

My parents know about NONE of my debt so it is a personal priority to get their money back from this pay packet, plus the scottish power one.

I am signed up with just about every survey site on the web, have claimed £70 in expenses, and tomorrow am going to call the bank and ask for £120 of charges back.

It was much much worse a year ago - I could barely sleep, my mortgage was in arrears and i was missing payments left right and centre Reposession letter brought on what could be called my lightbulb moment.

I should be fairly comfortable once these one of payments are made in the next 2 months, but am determined not to make minimum payments and to lose all this debt once and for all!

So - one push for 3 months to get rid of one off debts, then its snowballing all the way!!

One black cloud on the horizon - my home is desperately in need of some DIY. I may need to divert some money to saving before it falls around my ears -and Im not joking!

So there you have it - help!!

C

skintas_2

get a loadger, sell on ebay, do babysitting get a evening job,mystery shopping

fatbelly

Looks like the start of a nice thread, Clara.

Any charges on those credit cards that could be reclaimed?

clarab_3

skintas wrote:

get a loadger, sell on ebay, do babysitting get a evening job,mystery shopping

thanks - only one room so lodger is out!

Have numberous nieces who I am expected to babysit for free - so im kinda stuffed there too!

but ebay and mystery shopping is in - thanks!

clarab_3

fatbelly wrote:

Looks like the start of a nice thread, Clara.

Any charges on those credit cards that could be reclaimed?

well yes - here's the thing - you'll see that I had a lot of extra debt a year ago that thankfully Ive managed to pay off. Im reluctant to approach halifax until its paid off because at least at the moment its frozen - I could see them asking for the lot in a oner.

Capital one is clean - 100% payments record. got to start repairing my record.

I had a company credit card that was prone to these problems - anyone any ideas if i can chase this? I am leaving the company in 3 months so might be wortha punt?

PS - got £5,000 back from the bank last year and paid off all my arrears and another card in a oner - it was WONDERFUL!

moozie_2

Hello clarab

Good idea to start your own thread. I'll be reading with interest

clarab wrote:

I have an income of £1750 net per month.

Outgoings:
Mortgage - 470
Council tax - 100
utilities - £65 (yes this is ridiculously hight but i was in arrears with my electricity and they allowed me to spread the cost over the next 12 months)
mobile phone - 40 (for work unfortunately - not a lot I can do)
tv licence - 12
insurance - £12
factors - £30 What is this?
public transport - 50 Can this be reduced at all? More walking/cheaper deal?
food and groceries - 150 How many is this for? We are under this for two of us but not by much.
total - £929
No broadband, landline, home/personal insurance, presents, dental, prescriptions, socialising etc etc???

DebtCan you overpay on the loans? Would be good to know when you are snowballing.
Cahoot loan :mad: 14.9% balance £8000 - £181.00
Egg Loan 7.66% balance £7974 - £134 (woohoo! just realised it is under £8000mark!)
Halifax card - frozen balance - £1912 - £60
Capital one - £200 - £12

total £387

total outgoings - 1316 Which is great as it is below your income and I think that would be the case even with the bits that you missed.

You clearly have come a long way and you have worked hard on this already - well done! Keep posting and we'll cheer you on

I think once you accounted for anything you have not included, it will be a more robust soa/budget and then you can look into snowballing as well as saving a bit each month. You can do this!

clarab_3

moozie wrote:

Hello clarab

Good idea to start your own thread. I'll be reading with interest



You clearly have come a long way and you have worked hard on this already - well done! Keep posting and we'll cheer you on

I think once you accounted for anything you have not included, it will be a more robust soa/budget and then you can look into snowballing as well as saving a bit each month. You can do this!

Thanks Moozie!

First - basically in scotland when you have a flat you have a factor - its a company appointed to look after common charges, and insurance - very little I can do about the charge, I choose to pay it monthly so I dont get a surprise at the end of the year when the roof needs work done and I can least afford it.

public transport - no not really, that unfortunately is already the season ticket price to take the price down - it would be £3 a day just to get to work otherwise.

Food and groceries I could squeeze a bit if needs be. Ive been generous there - its only me (although cooking for 1 is a pain in the butt!)

Rather wonderfully my work pay my broadband and personal insurance, travel insurance and dental insurance. I can never afford to leave.

No landline - theres none in the flat and with my mobile being on a cheaper rate than most landlines paying £100 to get one put in seems bad economy?

Socialising - yes I love to, and I do, but I am trying to pay for that from the extras im earning from ebay etc - seeing it as my treats.

I can overpay the cahoot loan and obviously the frozen credit card balance - so they are my targets - card first, then that blasted loan

moozie_2

Thanks clarab, it was good of you to answer my queries. You clearly have give this a lot of though so well done. It will become easier and once you start snowballing, the addiction is fabulous

I think the best thing to do, if possible, is to cook a bigger portion and freeze it. That way, you are only using energy once and you have a meal for another day. The Old Style board is great for menus and ideas and they have grocery challenges that really get you focused.

clarab wrote:

Food and groceries I could squeeze a bit if needs be. Ive been generous there - its only me (although cooking for 1 is a pain in the butt!)

clarab_3

moozie wrote:

Thanks clarab, it was good of you to answer my queries. You clearly have give this a lot of though so well done. It will become easier and once you start snowballing, the addiction is fabulous

I think the best thing to do, if possible, is to cook a bigger portion and freeze it. That way, you are only using energy once and you have a meal for another day. The Old Style board is great for menus and ideas and they have grocery challenges that really get you focused.

Thaks - I'll maybe doodle over and wow them with my soup recipe collection!

Nuclear_Tom

Yep, I think the main area for savings is your food budget. Cooking in bulk and freezing is clearly the way forward here. Bringing the budget down to £100 a month is £600 you could clear from the debt this year...

Turning into a nice little thread, you seem to have things quite well under control!

Good luck with it all

clarab_3

Nuclear_Tom wrote:

Yep, I think the main area for savings is your food budget. Cooking in bulk and freezing is clearly the way forward here. Bringing the budget down to £100 a month is £600 you could clear from the debt this year...

Turning into a nice little thread, you seem to have things quite well under control!

Good luck with it all

Thanks Tom!

First I need to get through Jan and feb and pay off these one offs that are hanging over my head, then its overpayment all the way (crosses fingers)

I am heading out for my shopping just now, need washing powder so budget for week is £20...