30 and ready for change!

dubbya

I've been so inspired reading through various diaries that I've decided to start my own, I hope it will spur me on!

Will do SOA etc when it's not so late but for now my goals this year are:

- have a happy and healthy year with OH
- pass my teaching induction year
- get debt free (if this is possible!)

Best wishes everyone!

dubbya

Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 0
Number of cars owned.................... 2
Monthly Income Details
Monthly income after tax................ 1300
Partners monthly income after tax....... 1000 - depends on overtime, can be more
Benefits................................ 0
Other income............................ 80 - tutoring
Total monthly income.................... 2380
Monthly Expense Details
Mortgage................................ 631
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 120
Electricity............................. 15 - just setup direct debit so figure may not be accurate
Gas..................................... 40 - just setup direct debit so figure may not be accurate
Oil..................................... 0
Water rates............................. 25
Telephone (land line)................... 12
Mobile phone............................ 70
TV Licence.............................. 12
Satellite/Cable TV...................... 40
Internet Services....................... 0
Groceries etc. ......................... 250 - trying to stick to this!
Clothing................................ 10 - nominal figure, don't really buy if no money!
Petrol/diesel........................... 130
Road tax................................ 35
Car Insurance........................... 70
Car maintenance (including MOT)......... 30
Car parking............................. 10
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 40
Pet insurance/vet bills................. 10
Buildings insurance..................... 24
Contents insurance...................... 17
Life assurance ......................... 61
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 12 - only me, don't have if can't afford, normally get for bday/xmas
Entertainment........................... 50 - need to track this, may not be accurate!
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1724

Assets
Cash.................................... 0
House value (Gross)..................... 150000
Shares and bonds........................ 0
Car(s).................................. 5000
Other assets............................ 0
Total Assets............................ 155000

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 124000...(631)......4
Total secured & HP debts...... 124000....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
CC1............................1750......80........0
CC2............................370.......13........35
CC3............................300.......15........26
Loan2..........................12500.....213.......6
Loan1..........................18000.....307.......4
CC5............................600.......28........26
CC4............................900.......40........35
Total unsecured debts..........34420.....696.......-

Monthly Budget Summary
Total monthly income.................... 2,380
Expenses (including HP & secured debts). 1,724
Available for debt repayments........... 656
Monthly UNsecured debt repayments....... 696
Amount short for making debt repayments. -40
Personal Balance Sheet Summary
Total assets (things you own)........... 155,000
Total HP & Secured debt................. -124,000
Total Unsecured debt.................... -34,420
Net Assets.............................. -3,420



All comments welcome

dubbya

So in terms of getting debt free my goal this year is to at least clear the credit cards!

NSD today

downnotout

Your electric will almost certainly be more than that and you have a 40 a month short fall as it is. Life insurance seems high and petrol again high, do you need satellite? Hope this helps

dubbya

Thank for advice downnotout :A

Yes not sure about electric but our quarterly bills have been fairly low - likely to need revising as you say.

Life insurance includes sickness/redundancy for OH as in high risk job in that area.

Satellite - hmmm, need to persuade OH I don't mind just having freeview! It includes internet though.

Petrol was an estimate, we do have gas guzzling older cars but I'll need to keep a track this month and see what it actually is in reality!

downnotout

With regards to petrol, we live within a five minute walk of our children's school so we are currently walking them to school. Although not a big difference asking every time you get in your car do I need to drive? If the answer is yes, then can I save a trip elsewhere. We now combine trips to work with essential shopping (we drive past the super Market, before we would go home, have a coffee and then go shopping. Again not a huge change but over the weeks these less trips out can cut the bill down. Ring sky up and say your leaving because you don't feel you are getting value for money, I can guarantee they will reduce the package cost

dubbya

Thanks again! Yes I am certainly going be using the mantra 'do I need it' which will include the use of car!! Good advice, could do supermarket on way home or on way back from other things.

Will get OH to ring Sky and threaten to cancel - that can be his MSE job this month


Just paid off final amount on high interest CC with £30 left in current account :T so will close that after receiving next statement. Also have £20 tutoring payment from yesterday to go towards something else - must pay into bank before I spend it!!

downnotout

My wife to be is worse than me with cash, however I have been head in sand myself recently. What I have found useful in my new found optimism is I have an app on my phone which I am getting to grips with, where you can add all transactions you make during the day. It certainly stopped me from purchasing a coffee fromthe vending machine at university today saved myself 85p haha. I'm at the stage at the moment where I am trying to find out who I owe and how much not looking forward to the final figure.

GreenSaints

Shiny new diary

Hope all goes well. Don't forget, we're all here to help and have all been there (I'm still there!)

dubbya

downnotout wrote: »

My wife to be is worse than me with cash, however I have been head in sand myself recently. What I have found useful in my new found optimism is I have an app on my phone which I am getting to grips with, where you can add all transactions you make during the day. It certainly stopped me from purchasing a coffee fromthe vending machine at university today saved myself 85p haha. I'm at the stage at the moment where I am trying to find out who I owe and how much not looking forward to the final figure.

I think I have it - a spendometer? Need to start using it again!
:T for the coffee saving. I'm a bit scared of my total but this board is brill. We can do it!!

Thanks for the welcome GreenSaints

dubbya

Not a NSD today but only a small purchase of peanut butter for sarnies tmrw and a drink with caffeine as I won't be near tea making devices all day!

Trying to think of how to make tmrw eve as cheap as possible as going to pub for friend's bday meal...