I am a Wannabe

GemmaB1

hi all,

thought I would give this a go as my head is about to explode with looking at my lists and writing everything over and over again!!

I have eventually taken my head out the sand and realised that me and hubby are a wee bit in debt, I say wee I really mean huuuugggeee for the amount we have coming in! still trying to remove hubby's head though, he's getting there slowly but doesn't really understand why when he has £30 in his wallet why can't he go and buy stuff?? Eh sweetness cause we have no money!!

Here goes

Our monthy income is

£1335.00 hubby's main job
£ 320.00 hubby's 2nd job (I know he is a wee star)
£ 134.00 Family Allowance
£ 60.00 monthly pocket money from my parents for kiddies
£ 382.00 Tax credits

= £2231.00

Monthly outgoings are

£460 mort
£240 personal loan
£150 car
£116 council tax
£80 mobiles
£100 gas and elec
£90 virgin (tv, phone, broadband)
£40 petrol
£40 car ins
£30 acc interest
£22 catalogue payment

= £1368.00

Weekly outgoings are

£79 Loan
£50 food
£40 menage
£30 hubby's train and some snacks at work

= £199.00
x 4 weekly
=£796.00
+£1386.00 monthly bills

= £2182.00
= £49.00 left!!!!!

Our outstanding debt is

Personal loan £3000.00 o/s paid June 2013
Car £2000.00 o/s paid nov 2012
Provident £2504.00 o/s clear Jul 2012
Function room hire £ 550.00 o/s clear Jan 2012
Sofa £1000.00 o/s clear when I actually have disposable income at the mo its a token payment of £5.00
Halifax visa £1000.00 o/s as above
Capital 1 visa £600.00 o/s as above
Capital 1 visa (hubby) £400.00 o/s as above
Littlewoods catalogue £1000.00 o/s as above
Littlewoods cata (hubby) £600.00 o/s as above
Great Uni cata (hubby) £600.00 o/s as above
Wonga £460.00 o/s Clearing Sept 2011
Quick quid £750.00 o/s Clearing Nov 2011
Family £862.00 £362 paid back in Sept 2011 and the remaining £500 will be paid back by Feb 2012


Total = £15362.00

AAAARRRRGGGGHHHHH!!!!! All we have to show for it is a car we don't own yet and clothes and toys we don't use anymore.

I have sat down tonight and worked out my monthly budget for the months of Sept, Oct and Nov, as my hubby gets a £600-£800 bonus every 3 months I tend to work 3 month in advance, this was my downfall before as I was keeping money from the bonus to add to his wage every month without a bonus but it was just shouting at me sitting in that bank and I would usually have spent the whole lot half way through the 1st month on nothing!!

This quarterly bonus is how we are able to pay so much to these debts and hopefully have all our normal monthly payments on debts reduced to the normal monthly fee (most payments are between £50-£100 more than they should be as we try to pay off arrears) by Feb 2012 and be debt free by June 2013.

Maybe by then we will be able to afford a wee holiday as we've been together 10 years married for 2 and have only been abroad together on our honeymoon (seriously where did all this cash go???)

Well if you got this far well done you

So as of tomorrow this is my new hobby

xx Gem

BKAT_9

Hi Gem, good luck, maybe if you post on the main DFW board and post your full SOA people can help you and suggest where to cut down?

Either way good luck - at least you have had your LBM now and are dealing with it!

GemmaB1

Ahhhhh thank you, still not sure what am up too really on this

mummytogirls

Hi Gemma, well done on starting your diary and getting everything written down.

If you want to keep track of whats going on etc, keep on top of things I suggest keeping the diary.

If you are looking for advice on where you can cut back etc, you might be better off posting on the Debt-free wannable (DFW) forum not the debt diaries if you get me?!

Just a few thing that stood out for me:

mobiles - have you called up your provider to ask if you can cut down to a cheaper package?

TV/Broadband etc - again call them up and threaten to leave! This is what I do at least once a year and it gets me a cheaper deal.
Currently I am paying £46 between Sky and BT for phone, broadband and sky.

As I mentioned in my diary cut down on the brands this will save you loads!!

Ebay all old toys/clothes etc?

Well done again on getting this all written down. Im sure that is one of the hardest bits!! xx

pennywisepoundstupid

Hi Gemma, just wanted to say goodluck and well done for starting the diary.

ultrarunner

Good luck, get to work on the debt as soon as you can...

GemmaB1

Ok so just done my SOA on the main board, and it doesn't look good. Had a few few good days, I have sat down and worked out everything AGAIN!! Got all my payments and things sorted out. I have to default on my provident loan for till dec, well not default but pay less payments, b ut its the only way I can see how to get rid of the payday loans and family members debt.

The cutbacks so far have been no sneaky trips to the shops, no lunch money for hubby's lunch (sandwiches and snacks bought every week) No petrol, I walk everywhere now except to take my wee granny to the hospital every week (she's 81, with a broken hip and dodgy ticker)

We phoned up and got the home phone broadband and tv package reduced from £90 to £51, we have asked for gas and elec meter's to be installed. The mobil's can't be cancelled or reduced till next summer but will be when it comes around. For our anniversary instead of buying presents we don't need we got a card and the cake we had as our wedding cake in mini version so our anniversay dinner was a cup of tea with domino cake at 9pm when kiddies were in bed and watched a 9/11 documentry.

Hubby went to asda with his list and £23 and came back with 36 change woo hoo!!. Meal plan and lunch plan is on the go as we speak. A fortnight ago I went out and bought a new clothes dryer from argos for £32 and I havn't had my tumble dryer on since it is the total bomb!! you can hang bedding and towels on it, it can fit 4-5 loads of washing. I actually love it.

So small steps but hopfully the right 1's

xx Gem

GemmaB1

Ok not been on here for ages, but i've been a busy wee bee. Havn't yet had to deal with the monthly stuff as hubby gets paid on the 16-18th every month depending on when the weekend falls!! I have however stopped all buying of stuff that isn't needed and have a wee stash of £40 in 2 weeks, and all weekly bills have been paid without borrowing money from family which is v unusal for us!! Maybe I might just be getting to grips with this!

Not sure what is more important to spend the £40 on though, I need a new bedroom radiator (havn't had 1 since last oct, doesn't bother me but little mr is still in the room with us and I don't want him getting chilly, but on the other had little mr has grown a wee bit and is deperate need of new 9-12 months vests and pj's, his legs must be short cause his 6-9 month trousers are still fine! Or I could spend the £40 on stocking up on 2 months worth of nappies, 2 weeks of cat food and a months worth of baby milk, freeing up a little of my weekly shopping budget, or do I stash it and add it to the monthly money we get next week??? Saving is obviously not an option (1 day though)

Thats me into my 3rd week of not turning on my tumble drier, love my new clothes drier
xx Gem

GemmaB1

Its been raining up here all day and I still didn't give in me and little mr got our waterproofs on and walked to meet little miss from school, have only used my car to take my wee granny to the doc's yesterday and a few times to visit her in the last fortnight as she needed me to do some shopping for her otherwise I would have walked, bless her I really can't deny the 81 year old her cakes and fairy liquid!!

shaneshaneshane

As far as the £40 is concerned, IMO I would pay off some of your debts to whoever accepts overpayments and put it in the one with the highest intrest rates (Payday guys if you can overpay?)

It'll save you interest.. therefore more money

mummytogirls

Well done Gemma you sound like youve made a real start already :T xx