My SOA

brodie_3

any help welcome....

Income

1. £1246
2.£1092
3.£131
4.£46 total £2515

living expenses

mortgage £599 but I know interest rates due to go up
secured loan £316
c.tax £147
elec£96
building insurance £30
bt £26
wanadoo£14.99
Mobiles £20
Sky £44 will cut down
life insurance £27
car insurance £30
car tax £17
fuel £80
food etc £368
School/work meals £40
haircut £10
prescriptions £7
dentist £5
clothing £50
school trips and hobbies £30
pocket money £22
magazines £9
service/ car mot £25
sundries/emergencies £40

total of £2052.99

Debts

clydesdale financial services £810 int free until june £50
clyd. f s £256 apr 25.9% £13
next £394 £37
northern rock loan £14700 left £213 month
bank of scot. preference account £5352 £272 month high 20s interest
bos credit card £4471 £88
goldfish £2235 £45
barclaycard £4100 £80
capital one £2833 £85
homebase £912 £30
argos £1043 £50
bos overdraft £2000
bos overdraft £1300
total £40406 monthly £1128

have talked to cccs and they suggest dmp of £396 for over 8 years. I was not sure about a scottish trust deed

thanks for help

chevalier

My comments are in blue. I hope that this was a double post, not that you got missed but just in case.

brodie wrote: »

any help welcome....

Income

1. £1246
2.£1092
3.£131
4.£46 total £2515what are these bits of income? Are some of them benefits or do you have 4 jobs:eek:

living expenses

mortgage £599 but I know interest rates due to go up
secured loan £316[COLOR="blue"[/COLOR]
c.tax £147
elec£96is this the only way to heat your home. this is very high. Now that the market has settled down you could check to see if you can get it cheaper elsewhere. If you can the try going via https://www.quidco.com as you ca get cash back
building insurance £30is this both building and contents?
bt £26
wanadoo£14.99
Mobiles £20
Sky £44 will cut down
life insurance £27
car insurance £30
car tax £17
fuel £80
food etc £368how many is this for. I am thinking it is for 2 adults and 1 child? If so then there are savings to be made here by first trying to eat only what is in your store cupboards/freezer for the week. If your cupboards is anything like mine then you could live quite well on them. Next meal plan say for two weeks, for variety, and then do a shopping list only for the items you will need. I do one shop instore and one online. That way 1 week out of 2 I don't get tempted (and I can always find a voucher for free delivery or extra points) I would suggest that you can cut £100 a month of this.
School/work meals £40suggest packed lunches, then you could include this in with your weekly food
haircut £10
prescriptions £7
dentist £5
clothing £50every month. Can you just buy for the children for a bit
school trips and hobbies £30
pocket money £22
magazines £9virtually every magazine can be read online this is £108 a year just on mags:eek:
service/ car mot £25
sundries/emergencies £40

total of £2052.99

Debts

clydesdale financial services £810 int free until june £50
clyd. f s £256 apr 25.9% £13
next £394 £37
northern rock loan £14700 left £213 month
bank of scot. preference account £5352 £272 month high 20s interest
bos credit card £4471 £88
goldfish £2235 £45
barclaycard £4100 £80
capital one £2833 £85
homebase £912 £30
argos £1043 £50
bos overdraft £2000
bos overdraft £1300
total £40406 monthly £1128

have talked to cccs and they suggest dmp of £396 for over 8 years. I was not sure about a scottish trust deed

thanks for help

can you ebay anything not nailed down, do mystery shopping, do another job, sell at car boots to get some extra money? I hope you take cccs advice as it will take the strain off you. But by doing some of the above you would also have some extra to either save for a rainy day fund, or to give as extra to cccs
chev

RAS

Anyone else help out here?

mrsspendalot

Food, electric, sky, clothes, hobbies and pocket money are the ones that stuck out for me -

food can definitely come down. I have a family of 5 and have just done my week's shopping for £32 between tescos and the local grocers.

electric seems high, but you do not have gas on your list so I am guessing electric is the only fuel you have?

Sky - you have already said this needs to come down

clothes - surely you don't need to spend this every month?

hobbies - sounds high, but i don't know what they are

pocket money - who for? if it is for a child are they old enough to get a paper round or something?

Just a few thoughts .....

mrsspendalot

also can you see if you can get a deal with BT or another company to combine your phone and internet costs?

Shineyhappy

"mortgage £599 but I know interest rates due to go up What type of mortgage do you have? How long left is their to run on it for the inital lower rate?
secured loan £316
c.tax £147
elec£96
building insurance £30
bt £26
wanadoo£14.99
Mobiles £20
Sky £44 will cut down
life insurance £27
car insurance £30
car tax £17
fuel £80
food etc £368 Seems a bit steep if their are 2 adults and 2 kids??
School/work meals £40 Can you make packed lunches for cheaper?
haircut £10
prescriptions £7
dentist £5
clothing £50could this be cut down through waiting till the sales or by not buying new clothes for a while?
school trips and hobbies £30
pocket money £22
magazines £9 I would cut out this for now
service/ car mot £25
sundries/emergencies £40"


Hi!!

If I were you I would cut out all non essential spending and try and cut food shopping down by eating everything in the freezer and cubboards and try and pay off the smaller debts.

Have you looked at selling on Ebay/Amazon/boot fairs?

Have you looked at getting Insurance through Quidco? Or joining pigsback to get vouchers you can use towards presents?

You dont say what most of the aprs are, I would guess Next would be pretty high so I would pay that off asap. Look out all the aprs and see what needs to be paid off first.

Have you had any bank charges that you can claim back?

Good luck sorting things out!

raq

WE ARE a family of family, two lots of nappies and baby food and spend between £0.00 and £70.00 a week and we DO eat extremely well, so definate cut back there.

When we where soooo short , no magazines , no lunch only packed lunch, cancelled sky, only one mobile phone, no clothes as you cannot get one hand in the children's wardrobe. Then to top it up I sold tones of items on e-bay and made over £352.00 in 4 weeks. We have got our debt down to just under £8k and still looking at ways to save some bucks.

So yes you can cut back in a lot of areas.

All the best