Debt Free before my 25th birthday.

MusicalLawyer

Made weekly payment to Provident, as per. Have the money to pay in full, but think it's best just to keep paying weekly to have more green little markers on my file.

Spent £1.80 on 2 Red Bulls whilst at work this evening, and a further £1.80 on some Comfort for Washing. They were £2 each, but colleague discount of 10% saved a little. That's eaten in to my weekly budget a little but still have £46.40 to live on for this week!

Used the money from the pot towards this weeks budget, as I had already over spent a tad this month. Leaving me with under £200 until 27th Jan (Payday from work) and 30th Jan (Student Loan pay day!)

MusicalLawyer

Got myself some work experience in a Law Firm for September - YAY!

Going to 'up' my Provident payments from £10.50 to £11 per week. I prefer dealing with whole numbers, just makes me feel better about my finances for some reason!

Gave my Mum £70 last week for various reasons. She is getting a rebate from benefits, so she is paying me back.

ANY money let at the end of the month will go on debts.

MusicalLawyer

So today I took a big step and paid off two of my debts that I had been in a payment arrangement with the longest.

Capital One - i owed them £355.50, and i had been paying them £15pm for a year. I had never missed a payment to these guys, so I have paid this debt off in full. This will leave nice green markers on my credit file! The default is due to drop off in 2016 anyway.

Provident - this wasn't a 'debt' exactly. It was a loan I took out in May 2011. I had been making repayments since then, always on time. So I paid this debt off in full too. I paid them £198.50, however I am receiving a rebate of around £30, as I paid it off early!

The £30 will go in to my savings account.
I also gave my Mum £70 the other week as she was very very skint. She got her benefits (finally) which were backdated, and she paid it back to me today (even though i'd told her she didn't need to!) so that is another £70 to go in to the savings

Sending off my SAR to Littlewoods tomorrow once the OH brings his cheque book home with him. So I am able to see how many off the unfair charges I have on the account. I will proceed to get them taken off after I receive it. I am also asking Call Credit for a Statutory Credit Check too, as my Wonga account isn't on Experian - plus i need to check all 3 anyway!

MusicalLawyer

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 500
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 600
Total monthly income.................... 1100

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 350
Management charge (leasehold property).. 0
Council tax............................. 31.5
Electricity............................. 34.5
Gas..................................... 0
Oil..................................... 0
Water rates............................. 25
Telephone (land line)................... 0
Mobile phone............................ 42
TV Licence.............................. 5
Satellite/Cable TV...................... 0
Internet Services....................... 14.25
Groceries etc. ......................... 100
Clothing................................ 20
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 40
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 6
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 0
Entertainment........................... 40
Holiday................................. 0
Emergency fund.......................... 0
Share Save.............................. 60
Total monthly expenses.................. 788.25


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

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Littlewoods....................420.......0.........0
Wonga..........................342.61....0.........0
Total unsecured debts..........762.61....0.........-


Monthly Budget Summary
Total monthly income.................... 1,100
Expenses (including HP & secured debts). 788.25
Available for debt repayments........... 311.75
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 311.75

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -762.61
Net Assets.............................. -762.61

Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using other browser.

MusicalLawyer

Total debt owed; £762.61

Been trying to pay £2.61 off on my Wonga Loan via Gothia's online payment facility... it never seems to work when I input my details!?!?

Guess i'll have to give them a call to pay off the £2.61.... haha! No, I will wait for PayPal to send my money to me from what I sold on eBay then will use that + £2.61.

cassidy0111

Wow, you are making amazing progress!!

MusicalLawyer

I know i am pleased with myself.

I got a bit carried away / impatient today and applied for a Vanquis CC. (Stupid me, I've only just paid off the last CC I had with them!) I was rejected Was hoping to get a CC so I can start building my credit rating up. I am in a comfortable position money wise now so I wouldn't fall behind on repayments. Although to be honest my debt was racked up as being a bit irresponsible. Lived at home with parent, had no 'real' bills bar car insurance and phone bill... I now have my own flat with my OH.

Decided I want to try and lose some weight this year. I currently weigh about 13 stone (eek!) I get weighed at the doctors every 3 months when i go for my injection, this one tipped me over the edge a little! Going to borrow the unused Wii Fit from the OH's Dad's so i can try and get fit. I reckon the equivalent to 30mins per day to start shall suffice.. must remember to buy some scaled!

Today was a NSD today. So no money spent. Although I was very tempted to spend £15 on a 16GB USB thing for my Laptop. Only have around £100 to last until payday (27th) so MUST make it last. Need to get some clothes for this for my work experience placement - Primark here I come!

MusicalLawyer

Posted off SAR to Littlewoods this morning. Recorded Delivery. Now just to wait for a response.

Going to have some Pasta Bake for dinner tonight me thinks - already have all the ingredients needed so will be a nice easy dinner to cook, as OH is working till 8pm this evening.

Still waiting for PayPal to put £15 in to my account, which I'll then pay off on Wonga / Gothia debt (along with the extra £2.61 on the debt!)

MUST remember to go in to work today / tomorrow to see if my TL has sorted out my holiday form (Which I gave her in Nov!) I have an appointment on Thursday in a solicitors back in Essex and NEED my holiday sorted so I can arrange work experience with them.

MusicalLawyer

Decided to offer Gothia Ltd a F&F. Starting low at £100. (Which is in-between 25% - 30%).
Letter is written, just need to print and post via RD tomorrow.

Spoke to TL re Holiday's from work. Said she'll text me. (We'll see).
She also reminded me that my Share Save investment starts being deducted from my pay as of Feb's pay. So I need to find 8 hours of over time a month to make my money back up to £500pm. Shouldn't be too hard tbh. It's only 1, or 2 shifts each month which will be pretty easy to get as I work on an under staffed department in Sainsbury's!

*Need to remember to put my Dell Laptop, and MacBook on eBay on the weekend*

MusicalLawyer

Finally managed to post of the F&F to Gothia Ltd re: Wonga loan.

Sold Dell laptop on eBay, posted it off this morning. Just awaiting for the money to clear in bank account.

Still waiting on Littlewoods reply re: SAR. Can't exactly remember when I posted it, but the receipt will be pottering around somewhere!

Remembered that when I accrued all my debt, in 2010 whilst on JSA, I took out two Crisis Loans after they took forever to sort out my claim. Never heard from them about it, so had totally forgot! After reading on here that they come after people years later, I phoned them up to enquire, and I owe them £82.20. Need to ring their Debt Management team to see about paying this off!