Help , debt is eating me up

trustxdaisyx

just written a big essay and lots it arrrrggggg! yes 350 is a maintenance payment. i need to revise my soa as its not that black and white, mobile phone is both of ours and my daughters which are tied in.
sky is tied in till next month an then its being turned off, had my multi room already turned off!
im self employed which means i need a contract phone and i also need a good an reliable car an mine is fab for that an my other
half is a car salesman so i asked his advice an he said nooo keep the car its a good one an got a good 10 yrs in it!
hair cuts well i used to be a hairdresser so i save a lot their just need to add mine..
no water meter an omg i dont want one as there can be 9 of us in the house some days.
clothing i put down as i wanted to be realistic, if im honest we all look like tramps as i just havent had the money same goes for the food i get what i need on nearly a day to day basis to save on waste an i can meal plan better too! i shall edit the soa now cheers guys i really appriciate everyones in put.. x

trustxdaisyx

right revised as i missed xmas an birthdays of which at the mo we are trying to keep to the min on each of these 7 kids and family an all the kids partys etc omg think i know where my pennys go! should have stuck with the dog! couldnt find the intrest rate on my bank for overdraft or for my loan think the loan was 7.5 i can pay extra if i have it i also pay £17 a month for the account the more i dig in to this the deeper i feel im going! x

rising_from_the_ashes

trustxdaisyx wrote: »

im self employed which means i need a contract phone

Can you not claim the cost of this back through the business?

trustxdaisyx wrote: »

the food i get what i need on nearly a day to day basis to save on waste an i can meal plan better too!

Sorry but IMHO this will be way more expensive than doing it say weekly or monthly as you'll miss out on bulk buying when the best offers are around.

Also, if you're anything like me and the odd "non essential" creeps in the trolley, this will have more impact if it's nearly daily rather than weekly.

trustxdaisyx

not missed any payments! sorry diddnt explain very well had multi room turned off an sky going next month as i was tied in for 18 months! yes 350 was maintenance. i put 400 in for food to be realistic but i have been buying day to day to meal plan and not waste anything.. i know its not that bad just want to be out the red in my bank, feel like i pay threw the nose in interest, not sure weather to get a loan to cover it an ill save on the interest or to start stoozing is it on my tesco card so i get club card points for food just really dont know what to do x

LittleMissGiggles123

Hey Daisy

New SOA has £1000 per month on presents, this has got to be a mistake right? Best to edit it so that your SOA looks correct.

As for anything else, pretty much what everyone else has said. Keeo an eye on gas & elec usage, clothing is way too much at £100 per month.

Good luck

x

trustxdaisyx

yes my mobile goes threw the business but because i dont earn 6k it doesnt make any difference really as i still have to pay out im also allowed to put a lot more threw the business but because i dont earn that much it comes out of my pocket x

trustxdaisyx

ooops thats yearly kids would be made up sorry x

trustxdaisyx

Household Information[/b]
Number of adults in household........... 2
Number of children in household......... 3
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 500
Partners monthly income after tax....... 1300
Benefits................................ 387
Other income............................ 188
Total monthly income.................... 2375

Monthly Expense Details
Mortgage................................ 529.8
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 90
Electricity............................. 58
Gas..................................... 58
Oil..................................... 0
Water rates............................. 39.91
Telephone (land line)................... 20
Mobile phone............................ 90
TV Licence.............................. 12.12
Satellite/Cable TV...................... 56
Internet Services....................... 6
Groceries etc. ......................... 400
Clothing................................ 100
Petrol/diesel........................... 50
Road tax................................ 15
Car Insurance........................... 35
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 350
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 20
Buildings insurance..................... 29
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 100
Haircuts................................ 10
Entertainment........................... 15
Holiday................................. 100
Emergency fund.......................... 40
Total monthly expenses.................. 2243.83


Assets
Cash.................................... 0
House value (Gross)..................... 180000
Shares and bonds........................ 0
Car(s).................................. 5000
Other assets............................ 0
Total Assets............................ 185000


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 110000...(529.8)....NaN
Total secured & HP debts...... 110000....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
mint credit card...............2029.57...40........1.736
over draft.....................1518.26...0.........0
over draft.....................755.81....0.........0
bank loan......................6349.37...0.........0
Total unsecured debts..........10653.01..40........-


Monthly Budget Summary
Total monthly income.................... 2,375
Expenses (including HP & secured debts). 2,243.83
Available for debt repayments........... 131.17
Monthly UNsecured debt repayments....... 40
Amount left after debt repayments....... 91.17

Personal Balance Sheet Summary
Total assets (things you own)........... 185,000
Total HP & Secured debt................. -110,000
Total Unsecured debt.................... -10,653.01
Net Assets.............................. 64,346.99

foxgloves

Re your Sky contract going. That will be a good saving. We had a Virgin Media package which we reduced when we were paying down debts, but didn't get rid of it completely as we thought we'd miss it. Then after a few more months, we went through all the channels one by one & tried to think of the last time we'd watched a programme on there.....or at all!! Turned out we were barely using it! We switched to Freeview & you know, we haven't once regretted it & we're even watching more of our vast collection of dvds......which has led to more frugality, cos any that we think 'Hmmm, don't think we're bothered about seeing that one again' are going straight on ebay! Best of luck with it all x