No Debt, No Beer

InsertWittyName

Will do the SOA soon - might try and find the effort to do it tonight.

Payday so paid a fair bit off today and some of the annual payments too:
£130 12 months car tax
£59 Apple iOS developer renewal

Last car payment went out today too! Although received my annual statement from Welcome Finance the other day and appears I still owe £31.75 for some reason, tried to contact them tonight but couldn't get through... will try again tomorrow and pay this off ASAP.

August balance was: -£17,930.56
September balance is: -£17,615.78

Will update the running total each month on payday from now on

OH and I have kept the receipts for any spends today as agreed - will review next payday.

Rang tax credits and they said the £254 owing will be looked at next renewal - so a year from now. Quite chuffed with that as they said I could have overestimated my salary and pointless taking it back off me for such a 'small' amount until renewal. I know my estimate was pretty accurate so will try and save a bit each month to pay this back next renewal.

InsertWittyName

Forgot I'd also transferred £100 to the OH to cover DD & DS school dinners & snacks until next payday and for general day to day bread & milk

New SOA below.

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 2560
Partners monthly income after tax....... 0
Benefits................................ 132
Other income............................ 0
Total monthly income.................... 2692

Monthly Expense Details
Mortgage................................ 271
Secured/HP loan repayments.............. 31.75
Rent.................................... 650
Management charge (leasehold property).. 2.08
Council tax............................. 187
Electricity............................. 40
Gas..................................... 38
Oil..................................... 0
Water rates............................. 23.35
Telephone (land line)................... 0
Mobile phone............................ 15.52
TV Licence.............................. 12
Satellite/Cable TV...................... 50
Internet Services....................... 0
Groceries etc. ......................... 300
Clothing................................ 10
Petrol/diesel........................... 20
Road tax................................ 10.84
Car Insurance........................... 51
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 50
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 37
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 30
Haircuts................................ 5
Entertainment........................... 10
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1864.54


Assets
Cash.................................... 0
House value (Gross)..................... 70000
Shares and bonds........................ 0
Car(s).................................. 3000
Other assets............................ 0
Total Assets............................ 73000


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 39659....(271)......6
Hire Purchase (HP) debt ...... 31.75....(31.75)....11
Total secured & HP debts...... 39690.75..-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Lloyds TSB CC..................0.........0.........29.9 (paid off with the new Halifax loan at 8.8%!)
Barclaycard CC.................2201.58...60........15.3
Cahoot CC......................1985.7....60........15.9
Halifax Loan...................10000.....315.7.....8.8 (new!)
[STRIKE]Capital One CC.................0.........0.........29.9[/STRIKE]
Dad............................700.......0.........0
Halifax Overdraft..............0.........0.........0 (paid off with the new Halifax loan at 8.8%!)
Halifax CC.....................0.........0.........29.95 (paid off with the new Halifax loan at 8.8%!)
Santander Loan.................3807.69...94........21.08
Total unsecured debts..........18694.97..529.7.....-


Monthly Budget Summary
Total monthly income.................... 2,692
Expenses (including HP & secured debts). 1,864.54
Available for debt repayments........... 827.46
Monthly UNsecured debt repayments....... 529.7
Amount left after debt repayments....... 297.76

Personal Balance Sheet Summary
Total assets (things you own)........... 73,000
Total HP & Secured debt................. -39,690.75
Total Unsecured debt.................... -18,694.97
Net Assets.............................. 14,614.28

InsertWittyName

Will be ringing up the Halifax CC and Lloyds TSB CC in the next few days when the payments have cleared to either cancel them or see what kind of balance transfer deal they will offer me

Hoping they will offer me a decent BT deal - but if not those will be closed and cut up instead.

All this control is so envigorating!

wannapayoff

welldone on the consolidation! I've closed 2 cards this week myself.. such a nice feeling!

Squidge123

Well done - its nice when you can watch your amount reduce each month. I applied for a loan to clear off some of my smaller debts so I can concentrate more on the big ones but my credit rating is too poor for one. Maybe when I've paid off a few bits and pieces it will start to get better lol.

Glad to see you're doing well

InsertWittyName

We both really fell off the rails this past week with the beer, oh well... next week is a fresh start

I've increased the DD for Cahoot CC from £60 to £75 and the Barclaycard from £60 to £80. If I pay nothing but this it means they will both be paid off at the same time as my new loan.

Need to try and speak with Santander about changing my 'minimum payment' DD into a fixed amount each month. I calculate I'd have to increase this from the ~£94 a month I pay now to around £150 to also get this paid. Should be doable - let's see what Santander say.

This is more a psychological thing than anything else - I know that if I make no other real effort than paying the fixed amounts each month then all my debts will be cleared within the timescale I wanted and I've never missed a minimum payment ever

Rang Halifax yesterday and spoke to someone about any BT deals - they couldn't offer me anything... will wait for the statement to come through for Lloyds TSB and try the same with them.

Also rang Welcome Finance about the remaining £31.75 yesterday and paid it off. Asked them for written confirmation that the HPI had been completed.

Getting there!

InsertWittyName

Appears the balance of the Halifax CC didn't clear in time and the minimum payment has gone out. Now in credit on it to the tune of £132!

Thing to do tomorrow:
Ring Halifax and get £132 credit refunded from CC.
Ring Santander about increasing monthly payment on transferred Cahoot loan.
Give initial meter readings to Npower for electricity supplier switch.
Bit more planning & budgeting for Christmas.

Can't sleep, no beer, woe is me

turbo.jet

Cool diary, I'm following. A couple of questions -

What do you get money for iTunes for? I gather since you mention iOS developer fee you make apps? Interested to hear what you're making (nerdy side of me coming out!)

Defintely do the PPI claim. I doesn't matter how long you had the loan for because they pay you interest on the money for all the time that has passed since the loan (I think - must be because my payout was massive). I literally screamed when I got my money back, and all I had to do was write a letter and forget about it. Best thing I EVER did!!!

Good that your OH is on board (by doing a spending diary). So many people have OH's that don't understand and they are trying to shoulder it all themselves. You'll get there. Focus on your 35th birthday and you'll find it happens long before that. Incidentally I'm a child of '79 too... Can't imagine myself married with 2 kids though - you must be older than me mentally, or maybe I'm not as young as I think I am. hehe.

Have subscribed and will be following with interest.

Squidge123

Hey

Just wanted to pop by and see how you're doing... Things are lookin good!

InsertWittyName

turbo.jet wrote: »

What do you get money for iTunes for? I gather since you mention iOS developer fee you make apps? Interested to hear what you're making (nerdy side of me coming out!)

Thanks for the support - and yes I make iOS apps both for a 'day job' and as an individual.

I'd rather not post the links up to the apps as to keep myself slightly anonymous, but if you'd like them feel free to PM and I'll let you know (and send you a few promo codes so you can grab them for free!)

I don't make much from the personal apps - but certainly enough to justify the developer fee.