Tales from a country cottage

ani*fan

Hi everyone :hello:

I'm 38 years old and live in a country cottage with my OH. I used this site years ago and found it hugely helpful, but clearly didn't learn the lessons I needed to 'cos now I'm back. And the debt is 5 times as large as previously.

My OH has a health condition and doesn't work but is much more frugal than me. I had a career change 6 years ago and have never managed since then to find full-time employment. OH was seriously ill 3 years ago and I had to take time off work, which is where much of our debt came from. But to be honest, I've always been rubbish with money so that's not the whole story. Bad money management is a big part of it too.

Our income is a patchy muddle of my wages, private work, OH's DLA, and help and support from MIL. It slowly trickles in through the month which I find almost impossible to manage and is never the same 2 months in a row. Holiday times are bad when my private work reduces to almost nil.

I checked our finances this morning and bawled my eyes out to see we have not a penny til Friday other than £25 credit available on a credit card, which will need to be used to put petrol in my car to get to work.

Is this my true light bulb moment? I certainly hope so 'cos something needs to change and it needs to happen now.

I'll be back later with a SOA and will gladly accept any help or advice anyone has to offer. It's good to be back, though I'm a little worried to read about people considering selling their kidneys!

Best of luck with the debt free quest everyone. And let's try and hang on to our body parts. :rotfl:

Wordsmith

Hello! Welcome (back). Good luck. I'm sure lots of people will be along with help with your SOA when you post it. Are you going to manage until Friday?

ani*fan

Monthly bills

Rent 558
Council Tax 99
TV License 12.12
Orange mobile (1) 25.00
Orange mobile (2) 27.00
Oil heating 140
Phone 25
Car insurance 23
Liability insurance 9
Electricity 40
Petrol 250
Food 240

1448.12
Debt repayment

Capital One (1) 1288.78/66 per month min 30%
Capital One (2) 438.84/17 per month min 30%
Abbey CC 3257.17/85 per month min 17%
Virgin CC 3810.79/97 per month min 17%
Car loan 2000/70 per month - don't know interest rate
Loan from MIL 2800/50 per month - 0% interest

385

Income

My wage 1240
Private work 400
DLA 150
Other sources 300

2090

TOTAL DEBT 13,595.56

Igamogam

Hi Ani*fan

Just popped in to say hello. I started my diary recently and found it strangly euphoric to start with but I think the reality has now set and the whole dealing with the debt thing looks a little daunting. So well done you to coming back and I will drop in now and again.

ani*fan

Just realised I haven't included the extras in my SOA as it looks like we have £250-ish left at the end of the month and we really don't.

We both smoke, usually duty free gifts from family. I'm about to quit again but still the papers and filters cost. Me and OH cut each others' hair so no expense there. Birthday presents are an expense. I haven't included cat food as MIL buys for them mostly. I honest to god do not really know where that £250 goes every month. OH's club, £5 per week. Some weeks my petrol is much more as I travel around a lot but I can usually claim that back.

At the moment, the excess cash is swallowed up by bank charges in a loop that I've been in now for about 3 months and appears to be getting worse.

Lesson 1 Keep a spending diary and find out where that cash goes.

I've known for a while how ridiculous the interest rates are on the Capital one cards but seeing it in black and white is worrying.

Lesson 2 Apply for balance transfer to 0% for as much of the credit card debt as possible

This loop I'm in with bank charges is my immediate worry. Just received another £50 on Friday, which sent me into the red, which means I'll be charged again next month. It's a joke.

Lesson 3 Ask for my bank charges back. They're unfair.

ani*fan

Hi there Igamogam :wave:

Thanks so much for the encouragement. I could really use it today! Will find your diary later on and catch up with how you're doing. There must be a way out of this, eh? I'm trying to remind myself it's a marathon and not a sprint...:)

Best of luck

AFx

Decluttering

Hello Ani*Fan, just thought I'd post a quick hello since I've decided I'd quite like to follow your diary. I hope this next week is more manageable than it sounds and that you'll soon be on your way to debt freedom!

beanielou

Im sure you will find a spending diary scarey if helpful!

Hovel_lady

Just dropping in to say hello and wish you luck on your debt free journey.
Look forward to your updates x

chevalier

Can I suggest that maybe the money extra a months, goes on magazines? booze? prescriptions, dental checks, contents insurance, pets insurance? Then there is mot costs, tax servicing for the car etc. Even if you don't put away a monthly figure for these then you maybe still need to put down a nominal amount. I notice OH gets DLA. Does that also mean you should be getting carers allowance for him too? I am not in the UK anymore so I don't know the ins and outs of benefits....

I am not having a go just suggesting some areas where that money might be going. Whilst I appreciate that OH has health issues, can he do online surveys/daily clicks etc, to earn a bit of extra dosh? They would probably like him because he is a him as they need men to make the surveys valid....
good luck with tackling the debt this time. Those Capital 1 card percentage are eyewatering....
chev

ani_26

Best of luck with the debt free quest everyone. And let's try and hang on to our body parts. :rotfl:[/QUOTE]



I shouldn't worry too much, i'm sure most people would hang on to their body parts.

Good luck with the debt busting xx