30 and ready for change!

downnotout

Tin of soup, place contents in bag, go toilet with friend, make a wretching noise in toilet cubicle, and empty soup into toilet. Go home poorly just make sure they get a round in first lol

dubbya

Hehe! Good idea but I do want to spend time with my buddies as hardly have time these days!

dubbya

Ugh! I have to confess that OH and I spent £50 on meal and drinks last night

Going to keep food shop low today to counteract it - target £40 all in!

Also need to get pressi and card for my grandma, and plan to get school work out of the way today - better get a move on!

dubbya

£58 spent on shopping so not target but not bad! Did get some deals though e.g. cat food so won't have to buy again next week.

Also had to shell out for car tax today and MOT required next month

HM card for Grandma's bday and will get pressi tmrw.

Managed to get some work done but still some to do tomorrow grr!

Going to start spending diary properly from pay day (31st) and really see where money is going.

Onwards and upwards...

chevalier

My comments are in blue

Dubbya wrote: »

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 do you need two cars? could one of you bike it to work?
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 can you up this to cover the shortfall.
Total monthly income.................... 2380
Monthly Expense Details
Mortgage................................ 631 is this repayment or interest only? Can you take a payment holiday to throw this money at the highest APR credit cards?
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 120 if you pay this over 10 months currently can you pay this 120 for the next two months to the highest debt, or has it already gone on something else.
Electricity............................. 15 - just setup direct debit so figure may not be accurate you can submit meter readings online, might save a nasty surprise.
Gas..................................... 40 - just setup direct debit so figure may not be accurate
Oil..................................... 0
Water rates............................. 25
Telephone (land line)................... 12
Mobile phone............................ 70 ouch can you drop down a tariff or go payg?
TV Licence.............................. 12
Satellite/Cable TV...................... 40 if OH wants to keep it ask him how HE is going to pay for it. This is your shortfall a month right there.
Internet Services....................... 0
Groceries etc. ......................... 250 - trying to stick to this! have a look on the money saving oldstyle part of the forum to find cheap and healthy recipes to help you stick to this.
Clothing................................ 10 - nominal figure, don't really buy if no money!
Petrol/diesel........................... 130
Road tax................................ 35
Car Insurance........................... 70is this for two cars?
Car maintenance (including MOT)......... 30
Car parking............................. 10
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 40 if you pay this every month, then maybe getting a prepayment prescription certificate would help here?
Pet insurance/vet bills................. 10
Buildings insurance..................... 24
Contents insurance...................... 17
Life assurance ......................... 61 Again ouch. Can you get the same cover cheaper.
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 can you sell and down size?
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.......-
The apr's on some of these debts are eye watering, can you get a balance transfer deal to pay them off? I know they are for fairly small amounts but even so.
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

Good luck on your debt busting. I think you have some wiggle room in your budget to at least get the books balanced. What can you sell to bring in some extra? Could you fit mystery shopping into your lunch times?
chev

dubbya

Thanks so much for your advice chevalier :A

It is unlikey that we could do with one car - I am a teacher so generally have loads to carry and OH has a manual job so I wouldn't like to suggest it. His car is also a hobby of his (doing it up) so would be sad to deprive him of that!

I may be able to increase tutoring but work is pretty intense this year and extremely important so not sure if time would allow.

Mortgage is repayment until 2013 - I like that it's getting paid off (albeit slowly!).

Yes council tax can put budgeted amount onto cards for Feb/Mar

Mobiles - both just started new contracts

Am encouraging OH to call Sky and threaten leaving/downgrade so may offer cheaper (he currently pays in any case but still part of budget I know).

Medical is contact lenses and I put a bit extra for dentist (currently require a filing ).

I have been looking for recipes - really appreciating everyone's great advice on this front!

Insurance is for both cars. Life ins covers OH for redundancy/illness as quite likely with his line of work.

I think downsizing would be last resort as we got a good deal on the house and are in process of doing it up and have done well from it so far in terms of equity.

Have recently got 0% card so have transferred onto that but unlikely to get another until have had that one for a few months but will keep an eye on it. Will basically just put as much as possible inc. any earnings over and above to pay of these cards and get rid!! overtime is likely for OH so that will help.

I have signed up for mystery shopping but it will need to be at a weekend of holidays with my job but will be keeping an eye out for anything that comes my way!

Thanks again, I really value MSE'ers advice

dubbya

Spend today is £20 on grandmas pressi.

Schoolwork done :j so I can relax (and catch up with diaries!) for the rest of the eve yay!

Determined to have NSDs this week, spending diary commences properly on payday (Tues)!

dubbya

I think targets for the week will be motivational and keep me on track so:

Sort out budget and create sig to record
No non-essential purchases
4 NSDs
Get OH to phone Sky
Work out and make OP on target card
Book MOT
Early starts so can sort work stuff and be less stressed therefore can do more MSE activities!

Let's go moneysavers!! :j

dubbya

NSD today :T

Lots of work completed today too so now just relaxing!

Pay day tmrw so will start recording all spend against budgets. Plan to add credit cards to sig as and when I get the next statements so I know actual amounts.

dubbya

Day 1 of monthly spending diary of EVERYTHING!

Spent today:
Petrol £20
Make-up £5 (fairly essential and bought rarely!)

Earnt today:
Tutoring £21 :T