It starts here!

aNom

Morning, Have just been looking though my spreadsheet and I managed to pay off £414.88 off my debts this month! Yay. So that leaves £3,528.75 to pay. I'm aiming to pay £686.67 next month eek :j

Not sure what my lightbulb moment was, think it was wanting to move out from my parents home. I know thats not posible with 4k of debt and a load of defaults

Off to do some work, be back later!

elantan

our son left home at 16 then returned at 18 he returned a more mature person, when he returned the second time we set down ground rules and they seemed to work well for us all,

whilst he was home he recognised the stability that a family can bring and he had the space to save save save .... which he did to his credit ( whilst also doing the usual ... and not so usual teenage things) he bought his first house in July this year having saved 20k for a deposit and getting a further 20k knocked off the asking price ( so he has a smaller mortgage than his parents 10 years into theirs) he finally moved into his home in October and we are still helping him do things ( this weekend is central heating weekend for example)

its great as a parent to see our children grow up into the people they want to be ( not who i want them to be) and its wonderful to see our kids move on with their lives ... but my goodness its also great to get peace around the house and not have to clean up all the time after a messy kid

what i'm trying to get at it i'm sure your parents love you and you love them, but it is hard to live with them when you have a life of your own to live ... use this time to get out of that debt save save save and move forward ... oh and parents will almost always be there to help... she says after helping sort out the bathroom, heating, floors, walls etc etc etc ( i'm sure you know how it goes )

good luck getting out of debt you will get there ... little bits at a time all help

CuppyCake

Hi there,

congrats on paying off £414.88 of your debt!

aNom

Thanks CuppyCake, It's been hard but the only way is up. Can't live in debt forever!

aNom

elantan wrote: »

our son left home at 16 then returned at 18 he returned a more mature person, when he returned the second time we set down ground rules and they seemed to work well for us all,

whilst he was home he recognised the stability that a family can bring and he had the space to save save save .... which he did to his credit ( whilst also doing the usual ... and not so usual teenage things) he bought his first house in July this year having saved 20k for a deposit and getting a further 20k knocked off the asking price ( so he has a smaller mortgage than his parents 10 years into theirs) he finally moved into his home in October and we are still helping him do things ( this weekend is central heating weekend for example)

its great as a parent to see our children grow up into the people they want to be ( not who i want them to be) and its wonderful to see our kids move on with their lives ... but my goodness its also great to get peace around the house and not have to clean up all the time after a messy kid

what i'm trying to get at it i'm sure your parents love you and you love them, but it is hard to live with them when you have a life of your own to live ... use this time to get out of that debt save save save and move forward ... oh and parents will almost always be there to help... she says after helping sort out the bathroom, heating, floors, walls etc etc etc ( i'm sure you know how it goes )

good luck getting out of debt you will get there ... little bits at a time all help

They will always try their best for me and I know that They aren't the best roll models when it comes to cash tho lol

aNom

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 1000
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 500
Total monthly income.................... 1500

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 260
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 100
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 0
Clothing................................ 0
Petrol/diesel........................... 100
Road tax................................ 20
Car Insurance........................... 110
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 40
Entertainment........................... 100
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 770


Assets
Cash.................................... 20
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 500
Other assets............................ 0
Total Assets............................ 520

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
PDL 1..........................325.......0.........0
PDL 2..........................187.......0.........0
Bank 1.........................605.......0.........0
Misc...........................723.......0.........0
Misc...........................387.......0.........0
AA.............................116.......0.........0
Loan 1.........................194.......0.........0
Bank 3.........................153.......0.........0
Bank 2.........................903.......0.........0
Total unsecured debts..........3593......0.........-


Monthly Budget Summary
Total monthly income.................... 1,500
Expenses (including HP & secured debts). 770
Available for debt repayments........... 730
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 730

Personal Balance Sheet Summary
Total assets (things you own)........... 520
Total HP & Secured debt................. -0
Total Unsecured debt.................... -3,593
Net Assets.............................. -3,073

elantan

well done ... was it as scary as you thought?

aNom

To admit to spending £40 on a haircut each month? eek! Thought I was spending more to be fair so I will start a spending diary!

elantan

they are a great thing ... i dont like admitting some of the things i spend on but i always make myself put it down ... i have had a few shocks lol

aNom

elantan wrote: »

they are a great thing ... i dont like admitting some of the things i spend on but i always make myself put it down ... i have had a few shocks lol

I'v just found you diary so I'm going to read it all, yes all 40 pages of it