PayPlan - Anyone got any advice

kellys0706

Hi

Sorry I just used the calculator that is suggested for us newbies and updated some of the figures!

Fuel is high as I travel 50 miles a day to/from work! I have a diesel and drive sensibly.

Here goes!

Household Information[/b]
Number of adults in household........... 1
Number of children in household......... 0
Number of cars owned.................... 0
Monthly Income Details
Monthly income after tax................ 1500
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1500
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 153
Rent.................................... 450
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 40
TV Licence.............................. 0
Satellite/Cable TV...................... 30
Internet Services....................... 10
Groceries etc. ......................... 120
Clothing................................ 20
Petrol/diesel........................... 200
Road tax................................ 12
Car Insurance........................... 55
Car maintenance (including MOT)......... 75
Car parking............................. 30
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 15
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 10
Entertainment........................... 20
Holiday................................. 0
Emergency fund.......................... 20
Total monthly expenses.................. 1300

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

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 0........(0)........0
Hire Purchase (HP) debt ...... 8234.....(153)......0
Total secured & HP debts...... 8234......-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
LloydsTSB Overdraft............250.......20........0
Santander Overdraft............317.......25........0
LloydsTSB Loan.................6158.74...117.1.....0
Other Utility Debts............1349.34...20........0
1st Credit-HSBC Loan...........2700......100.......0
Barclaycard....................359.42....10........0
Capital One Credit Ca..........145.64....10........0
Granite Credit Card............242.69....10........0
LloydsTSB Credit Card..........972.44....20........0
Total unsecured debts..........12495.27..332.1.....-

Monthly Budget Summary
Total monthly income.................... 1,500
Expenses (including HP & secured debts). 1,300
Available for debt repayments........... 200
Monthly UNsecured debt repayments....... 332.1
Amount short for making debt repayments. -132.1
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -8,234
Total Unsecured debt.................... -12,495.27
Net Assets.............................. -20,729.27

Little_Miss_Uni-Debt

Hello Kellys!

Well done on starting your DMP. 3.5 years is just the starting point! Everything you cut back on brings that date closer :T

Is your mobile PAYG or contract? You could make a saving there. Make sure you physically put the money aside that you have allocated for clothing, presents, medical, haircuts, entertainment, emergency fund. Maybe even have a little collection of envelopes that you fill up on payday. You could even write on the outside when you put money into them and when you take out and what for. I'd have one for your car too.

If it's put away in a pot when the time comes you don't have to worry else it easily disappears!

Also, what are you APR% or have they been all frozen due to your DMP.

mum2one

def agree with putting the money aside if you don't spend it as sometimes the car may not need that much fuel one month than the next, something daft but the price petrol, diseal etc going up and down and you need that coushion.