Pinot's Potty debt free journey!!!

kerri_dfw

I'm really good thank you, spent the afternoon with my 2yo nephew. We went to the post office, the hospital for a blood test, and lidels for cheap bog roll he's had a fantastic time and I now want a 2yo of my own, they're so much more fun than newborns... can I skip the pregnancy and sleepness nights bit? hehe don't tell my OH

Hopelessly_Hopeful

Hi Folks

Sister slicing her wotsit in a mandolin sounds painful. Hope she is on the mend soon.

HHx

Loubylou2

Oh If I need cheering up I know where to come!:rotfl::rotfl:
I couldn't get to sleep last night. It felt like torture but then compared to hedgehogs up a tree.....maybe insomnia wasn't that bad at all.

Plus your thread Pinot is an education as I was also absolutley positive a mandolin was a small guitar. You live and learn.:D

Our printer was brilliant....... for about 3 weeks and now everything has to be sent to DH at work to print off. We'll have to sort it out though as he finishes next week.:eek:
Good luck with the painting. xx

PinotGrigio41

kerri_dfw wrote: »

I'm really good thank you, spent the afternoon with my 2yo nephew. We went to the post office, the hospital for a blood test, and lidels for cheap bog roll he's had a fantastic time and I now want a 2yo of my own, they're so much more fun than newborns... can I skip the pregnancy and sleepness nights bit? hehe don't tell my OH

Sounds perfect. DD2 didnt sleep until she was 5, I survived on 2 hours a night, goodness knows how, so yes I agree, skip that bit and move to the Terrible Twos !!:rotfl:

Glad you had a lvoely weekend though, sounds like you love spending time with him x

PinotGrigio41

Evening all, actually it's pretty late so you are all probably in bed.

Going off on a bit of tangent here , but after a bit of a ding dong with Dd1 this evening it has come to light that when she wanders in and sees me on Mse , she has got it in her silly head that I am posting about how naughty she is to the world and his wife !! Couldn't be further from the truth she is an angel, but, every now and then the sullen hormonal teenager rears her head ! Anyway I digress, the argument was about her using her phone after curfew when we were trying to grab an hour together as a family and Dd2 wanted to sing us all a song she has been practising. She was sneakily using her phone, got told off and the whole evening got a litte stressful ! Anyway as I said above she thinks I post things all over the place telling people all about her, not sure why she wouLd think this? As I explained its really no different to her using facebook or her posting BBm statuses neither of which do I do or really condone.

So, I burbled an excuse about what it is I am typing about, but my question is do I tell her? I wanted to shield the girls from the situation although I do regularly explain things are tougher than ever before etc etc and they are good girls, they rarely ask us for anything, but I was so angry that she felt she had the right to question what I was and wasnt typing. I'm not sure I am really making myself clear, my head is spinning.

My question is though, has anyone reading told their teenagers of their monetary situation and in how much detail ?

Thankyou! X

Box_of_Fluffies

Hi Pinot

Teenagers are funny, sometimes paranoid creatures. I have 2 teenage boys, who like your two girls don't ask for much. They have no idea of our financial situation other that money is tight and we don't have money to burn.

I'm less inclined to tell them anything more than this, partly because our eldest has Asperger Syndrome and takes things very literally and also has a very good (and long) memory. He has declined to go on school trips in the past because 'we couldn't afford it'. Usually we have found out in time to do something about it.

So, I think perhaps I would tell your girls something but don't go into great detail.

Hope this helps.

PP xx

PinotGrigio41

pinkpiggy66 wrote: »

Hi Pinot

Teenagers are funny, sometimes paranoid creatures. I have 2 teenage boys, who like your two girls don't ask for much. They have no idea of our financial situation other that money is tight and we don't have money to burn.

I'm less to inclined to tell them anything more as our eldest has Asperger Syndrome and takes things very literally and also has a very good (and long) memory. He has declined to go on school trips in the past because 'we couldn't afford it'. Usually we have found out in time to do something about it.



Hope this helps.

Thankyou pp, and yes it does help .

I've been awake most of the night mulling over this one. She is really so good , especially when compared to other girls of a similar age which is why I am so baffled by her comments. She said shes heard me talking to Mr Pinot that I write stuff about money, work and her to thousands of people ( I cant recall saying that !) . I dont believe I have ever written bad things, as there rarely are any .............but I will stop there before I start burbling again !

The girls know about clients not paying, they are aware we have lots of bills and also that there has been little work on the horizon this month. They also know that we dont buy ourselves anything, any spare we have goes on them, which is fine, I think they know enough. I was so annoyed when I typed the original post , on the spur of the moment , I was tempted to email her my first 2 posts from the diary including the signature with a " you want to know what I type, then here it is !!! "How awful would that have been if I made a rash decision ?

We have a big family even coming up this weekend, which is costly. We have tried to explain to the family we are unable to do it, yet they are refusing to accept our decision and are putting an awful lot of pressure on us to attend, DD1 knows this and herself has exclaimed at how great the cost is and said "if we had the kind of money I would rather you and dad spent it on yourselves rather than on these other family members", so I believe she really does understand there isnt money to burn . Im sure yesterday was quite literally one of those stupid misunderstandings we all have, but I am so upset that she thinks I would merrily sit typing away about how awful she is to all and sundry . I will have another chat with her today. DD2 is less aware , but she is a very bright cookie and also a bit of a worrier, and she would be inclined to do something similar to the situation you mentioned with your eldest . Infact she is the first to be found rummaging for pennies in her moneybox to pay her own way or buy herself a new t shirt so that we dont have to pay for it. She is currently saving for a horse (:eek:) and will happily request money towards riding lessons for her birthday and christmas, so that we dont have to pay, as she aware of the expense.

Anyway I am sure this will all have blown over by the morning , but thankyou !!:)

I hope your day goes well x

PinotGrigio41

Well here it is in all its glory . Our SOA :eek:. Well sort of anyway. I found it a bit difficult to complete. We aim to pay ourselves from the business £4000 per month ( I find that embarassing as its a alot of money, yet still not enough to pay our creditors what they need. ) We are unable to pay ourselves in one lump sum at the moment, so pay ourselves in bits and pieces as and when we can throughout the month. This makes budgetting pretty difficult as we are never sure exactly when and if the money will be paid to us. We have managed to find this amount most months in the last year, but before entering the DMP we were having to pay our creditors in the region of £2500 per month min payments, which was proving an impossibility as the SOA shows. The SOA posted is as agreed with CASHflow on our Financial Statement which has been accepted (for now at least by our creditors) I am aware many aspects are high , the plan is to reduce areas like food, clothing etc, and squirrel that away for difficult months / and or hopefully F&Fs at some point in the future. Car expenses etc and our mobile phones are paid for from the business, but none the less we still need to find enough money to not only pay ourselves as above but to keep the business afloat, make sure we can put fuel in the cars , car repairs, tax ,pay rail fares, and pay our tax / vat bills. We still owe £4880,00 to the Inland Revenue for Corporation tax, the deal is min £500 a month, so again we need to earn enough to cover that also. I owe £450 of personal tax and we have two water bills amounting to approx £290 which are now overdue and need sorting out. We have been unable to increase our fees business wise in 13 years ( we work on a daily rate), infact the Daily Rate we can request has fallen significantly and the competition is fierce. We are fingers crossed about to enter into a contract for the next 3 months at least which should be paid to us regularly and will generate enough to make all payments business and personally and fingers crossed if we are careful leave some surplus in the business for us to hopefully draw on ourselves at some stage to make some additional payments to our creditors. We also plan to continue to work with other clients during this time if the business comes up. Hopefully this explains things a little more clearly. Some figures may not be entirely accurate and may not tie in with my signature ( I have included the Inland Revenue bill in that) and I do need to update the totals exactly that are owed to my creditors, but as I started this at 5am as the house was finally nice and quiet I thought I would get something down on paper finally ! I will also, in the coming days sign up for some challenges to help us on our merry way !

So, I am steeling myself for the comments, good or bad, and apologies for the very very long post !

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 3
Number of children in household......... 1
Number of cars owned....................

Monthly Income Details
Monthly income after tax................ 2156.00
Partners monthly income after tax....... 2156.00
Benefits................................ 146 Child Benefit
Other income............................
Total monthly income.................... 4458

Monthly Expense Details
Mortgage................................ 1870
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 238 Over 12 months
Electricity............................. 200 Dual Fuel, cheapest deal
Gas..................................... 0
Oil..................................... 0
Water rates............................. 79
Telephone (land line)................... 45 incl Broadband
Mobile phone............................ 20 Daughters phone due to end Feb 2012
TV Licence.............................. 12.5
Satellite/Cable TV...................... 23 Essential due to business, actually probably should be paid for from Busines Expenditure come to think of it
Internet Services....................... 0
Groceries etc. ......................... 544 Aiming to reduce, incl toiletries and pet food
Clothing................................ 90 High, DD2 has problems with feet and requires new shoes regularly
Petrol/diesel........................... 0 - no car expenses incl , paid for via business
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 65 - Girls bus / train fares
Childcare/nursery....................... 0
Other child related expenses............ 185 - tuition costs, pocket money, hobbies, school trips, GCSE courses
Medical (prescriptions, dentist etc).... 15
Pet insurance/vet bills................. 10
Buildings insurance..................... 32 Renewal May 2012
Contents insurance...................... 0 As above - Joint
Life assurance ......................... 191 Cheapest available
Other insurance......................... 25
Presents (birthday, christmas etc)...... 10 Not enough ! Will shave off elsewhere (Groceries) to increase this
Haircuts................................ 20
Entertainment........................... 35
Holiday................................. 0
Emergency fund.......................... 45
Total monthly expenses.................. 3754.5


Assets
Cash.................................... 1000
House value (Gross)..................... 480000
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 13000
Total Assets............................ 494000


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 335000...(1870).....0
Total secured & HP debts...... 335000....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Loan1..........................33703.....458.......0
Loan 2.........................6333......317.......0
CC1............................10867.....350.......0
CC5............................3447......120.......0
CC4............................11990.....350.......0
CC3............................10158.....250.......0
CC2............................7819......250.......0
Total unsecured debts..........84317.....2095......-


Monthly Budget Summary
Total monthly income.................... 4,458
Expenses (including HP & secured debts). 3,754.5
Available for debt repayments........... 703.5
Monthly UNsecured debt repayments....... 2,095
Amount short for making debt repayments. -1,391.5

Personal Balance Sheet Summary
Total assets (things you own)........... 494,000
Total HP & Secured debt................. -335,000
Total Unsecured debt.................... -84,317
Net Assets.............................. 74,683

Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using Firefox browser.

PinotGrigio41

Sorry need to add a note, we dont in any shape or form spend the amount of £544 on food, this is the amount that CASHflow have said we can allocate within their trigger figures an amount for Groceries ( CCCS suggested same amount) . We will not be spending it. I will check my spending diary later to see how much we have spent so far this month.

kerri_dfw

Hi Pinot, sorry to hear about the ding dong teenagers get paranoid don't they :-(

Does your landline include broadband?