J4mes' New Life Starting........NOW!

J4mes

Hi,

I'm a new poster but a long time lurker! I've been waiting for this New Year to start since the start of December!

Ok, so here's the rundown:

I'm James, 25 from Newcastle and I had some fantastic news before Xmas- my partner is 9 weeks pregnant:j. However less good news is that we currently live in seperate houses and combining this with the fact that I live with a work mate who I get a lift to work with means I need to move house and buy a car!

So as well as I did last year, I'm going to have to do a lot better this year!:D (And quick!!)

Last year without being too dedicated I managed to pay off approximately £3000.00 in debt from my student days.

So basically this diary is to help me, help myself, while hopefully helping others!

SOA to follow, look forward to some comments!

James.

J4mes

OK here's my SOA.

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household.........
Number of cars owned....................
Monthly Income Details
Monthly income after tax................ 1400
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 50
Total monthly income.................... 1450
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 250
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 30
Gas..................................... 30
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 35
TV Licence.............................. 12.12
Satellite/Cable TV...................... 78
Internet Services....................... 0
Groceries etc. ......................... 100
Clothing................................ 10
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 50
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)...... 10
Haircuts................................ 5
Entertainment........................... 150
Holiday................................. 0
Emergency fund.......................... 0
Account Fee............................. 6.5
Savings................................. 20
Total monthly expenses.................. 786.62

Assets
Cash.................................... 100
House value (Gross)..................... 0
Shares and bonds........................ 375
Car(s).................................. 0
Other assets............................ 300
Total Assets............................ 775

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Barclays CC....................870.......20........18
Barclays OD....................1000......6.........3
Total unsecured debts..........1870......26........-

Monthly Budget Summary
Total monthly income.................... 1,450
Expenses (including HP & secured debts). 786.62
Available for debt repayments........... 663.38
Monthly UNsecured debt repayments....... 26
Amount left after debt repayments....... 637.38
Personal Balance Sheet Summary
Total assets (things you own)........... 775
Total HP & Secured debt................. -0
Total Unsecured debt.................... -1,870
Net Assets.............................. -1,095

J4mes

So, I've actually had 3 NSD this year already, here's hoping for another one today and I've just been payed! Scratch that my phone bill came out today, just before being paid, showing that it put me £10 over my O/D online, will I be charged for that?? If I do I'm going into Barclays and having a quiet* word!!

*In all likelyhood rather loud!!

J4mes

Another NSD for me, hopefully same again tomorrow!

Got 23 items on eBay, generating a lot of interest, got these on the night before last which was a result as I managed to avoid paying for a Nandos and bowling with the wife! Combine that with avoiding a takeaway the night before means I've saved approx £65 while getting the things on eBay- result!!

urg123

HI James

Congratulations - lots of things happening for you in 2012!!!

Just a couple of things on your SOA

30 per month on Gas/Electric seems quite steep for a houseshare.
25 per month for food? REally - if so I want to know how!!!!!

It sounds like spending diary would be really helpful. Many find working with cash works for them.

The debt seems like it will be addressed soon. Then you really need to think about how things are going to work once you and the missus move in together and bump pops out.

Good luck

urg x

J4mes

:jThanks for my first reply!!

I've now edited my SOA as I was exhausted last night!


The gas/electric is a hard one as its quarterly, I live with two other lads who arn't the greatest savers, we have 2 TV's in the living room, etc... I know when I move in with the GF I'll be saving a fortune on 2 x bills/rent/food/etc...:beer:

£25 for food is actually £100!:o But thats for me, and GF most nights.

Added a bit more as well!:mad:

I really need a few productive months with overtime/saving/eBaying, but feel £550 debt payments and saving per month isn't unrealistic!

James.

twindad07

J4mes wrote: »

So, I've actually had 3 NSD this year already, here's hoping for another one today and I've just been payed! Scratch that my phone bill came out today, just before being paid, showing that it put me £10 over my O/D online, will I be charged for that?? If I do I'm going into Barclays and having a quiet* word!!

*In all likelyhood rather loud!!

I would hope they wouldn't charge you - but you never know!!!

I think I've gone over O/D and back in credit the same day and not been charged.

J4mes

twindad07 wrote: »

I would hope they wouldn't charge you - but you never know!!!

I think I've gone over O/D and back in credit the same day and not been charged.

Here's hoping!! As I've been really careful the last 8 months and that would undo all my good work!

Had a bit of a spend today as me and the mrs had a belated xmas (we thought we'd be sensible and shop in the sales), I spent £50.39, I had budgeted £47.50 (£37.50 weekly entertainment budget + £10.00 monthly clothes budget) so I'll have to have a tight week next week!:o Though on the plus side I've got bids on 6 of my items on eBay and a plethora of watchers!:j

But in my defence we're starting to put a collection of house items together for when we move in, i.e washing powder, etc...so it'll save us money in the long run!

Anyway, its Xmas morning tomorrow for us!!lol

Have a great weekend everyone!

James.

headachesrus

Merry Christmas for the morning!

J4mes

Haha, thank you! As you might be able to tell from my first diary post we don't do things traditionally (most people actually live together before having children!lol )

hp48910

Hi James, I too am quite new to posting om here despite lurking for a good while. I have also just started a diary for this new year.

Congratulations on the baby news, how exciting:T

You sound like you made great progress last year, so the challenge this year will be more of the same, with the added determination of knowing the lovely result at the end of it:)

I've subscribed to your diary, it's nice to meet others just starting out on here.

Best of luck with your journey:)