Keeping my head clear and myself organised

longforthesun

I have started threads before and then lost my mojo for posting but I have woken today with a need to be more organised - again

So over the last few years OH and I have got about £40K of debt down to about £5k (although I will need to double check this)

We are living well within our means now and at long last have savings :j. We are aiming to have £40k in 3 years time in the bank.

So to help with this i need to be more organised.

To start with i am going to post my SOA. i think it's okay but know that having someone else have a look over it might help me tweek it.

longforthesun

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 2
Number of cars owned.................... 2

Monthly Income Details
Monthly income after tax................ 1024
Partners monthly income after tax....... 1660
Benefits................................ 134
Other income............................ 0
Total monthly income.................... 2818

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 625
Management charge (leasehold property).. 0
Council tax............................. 154
Electricity............................. 50
Gas..................................... 50
Oil..................................... 0
Water rates............................. 0 - Inc in Council Tax
Telephone (land line)................... 12
Mobile phone............................ 22 - 2 mobiles
TV Licence.............................. 13 - Paid 1/4 though
Satellite/Cable TV...................... 21
Internet Services....................... 0 - Included in cable costs above
Groceries etc. ......................... 250
Clothing................................ 0 - Kids granparents have always bought them clothes so i have left this at 0 as if needed would come out of savings account.
Petrol/diesel........................... 180
Road tax................................ 10
Car Insurance........................... 66
Car maintenance (including MOT)......... 10
Car parking............................. 0 both have free parking at work
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0 -
Medical (prescriptions, dentist etc).... 0 - free prescriptions here and free NHS dentist aswell.
Pet insurance/vet bills................. 0
Buildings insurance..................... 0 - rent so no need for this
Contents insurance...................... 7
Life assurance ......................... 27
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0 - again i just take this out of savings we have
Haircuts................................ 0 - hairdresser in the family
Entertainment........................... 50
Holiday................................. 0
Emergency fund.......................... 20
Total monthly expenses.................. 1567

Assets
Cash.................................... 9000
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 4000
Other assets............................ 0
Total Assets............................ 13000

No Secured nor Hire Purchase Debts Unsecured Debts

Description....................Debt......Monthly...APR
Santander......................421.83....18.8......0
Cap Q..........................980.......80........0
Barclaycard....................1031......40........0
Link...........................2448......131.......0
Monument.......................343.77....20........0
Barclaycard....................413.29....20........0
CL.............................1038......49........0
Total unsecured debts..........6675.89...358.8.....-

Monthly Budget Summary
Total monthly income.................... 2,818
Expenses (including HP & secured debts). 1,567
Available for debt repayments........... 1,251
Monthly UNsecured debt repayments....... 358.8
Amount left after debt repayments....... 892.2
Personal Balance Sheet Summary
Total assets (things you own)........... 13,000
Total HP & Secured debt................. -0
Total Unsecured debt.................... -6,675.89
Net Assets.............................. 6,324.11

longforthesun

So SOA done.

Food, Gas/Elec and Petrol all are withdrawn in cash and put in tins. When it's gone it's gone. Even though we have surpolus cash we will never reach our savings goal if we don't stick to our budget.

Over the last few weeks though things have gone to pot because i have been so unorganised so going to make a list of things to be done over the next few days. i am hoping that if i have ticked off my list over the next few days some one nice will give me a kick up the bum :rotfl:

longforthesun

To do list.

[STRIKE]Take mince out of the freezer for dinner[/STRIKE].
Put Ironning away
Put a load of washing on
Strip kids beds
send Chq for DD school music lesson
Move money from my wages account to cover recent spends
Do meal plan to do till the 20th

beanielou

I take it that you dont really have £890 left in a month?

MFWannabe

Are all your debts really at 0%? If they are then good but if not then i would pay them all with your savings. You will still have approx 2.5k left in savings at the moment should anything fo wrong and you would be completely debt free.

DawnW

Just popping in to say congratulations on getting 40k debt down to about 5. That is a fantastic achievement :T

longforthesun

FREEZ yes all the debts are 0% we started on a DMP with CCCS then went solo dealing with our creditors, so at the moment not planning on paying it off with the savings but if anything changes then we would use the savings. It's just nice to actually have savings now.

DawnW thank you. To be fair though we did do a few F&F with our creditors the most being 75% off from 1stcredit:D but yes we are really pleased with how we are doing.

longforthesun

beanielou wrote: »

I take it that you dont really have £890 left in a month?

Hard to beleive but looking at our savings accounts then yep I would say we do though I should say we only started this in Jan. My salary is paid into a diff bank from our current account and i move it at the end of the month into our savings account. I destroyed the card so no temptation to spend on it and I do not know my internet banking logon details by heart so need to look it up before I can access it online. Some months we wont be able to save the full amount as things will need paid for but it is our aim and so far it's working.

We have really scaled back on our spending using cash only for food etc. The salary for my OH is his basic he does do a bit of OT and this is sent straight to the savings account once he is paid so I can't touch it. Plus we are very very lucky the the kids have two sets of grandparents who spoil them and give them pocket money so our spends on them are low.

longforthesun

longforthesun wrote: »

To do list.

[STRIKE]Take mince out of the freezer for dinner[/STRIKE].
[STRIKE]Put Ironning away[/STRIKE]
[STRIKE]Put a load of washing on[/STRIKE]
Strip kids beds
send Chq for DD school music lesson
[STRIKE]Move money from my wages account to cover recent spends[/STRIKE]
Do meal plan to do till the 20th

Still a few things to do on my list but kids and work get in the way

Have just checked the bank and only 2 DD left to be paid this month totalling £14.22 :j.

Money pots are looking a bit low only £40 left for petrol but the cars still have half a tank each so that should last.

Gas and Elec money is empty as topped the meters up the other day but I am confident this will last.

Food I only have about £15 to last 9 days but the freezer is full so I am keeping my fingers crossed we can make it but I do have money in the bank if need be.

longforthesun

Need to add a spend today. £18 on a clothes airer (SP) figure using this will cut down on the elec bill by not using the tumble dryer so often.

Feeling a bit chilly here but instead of putting on the heating I have popped a thicker cardigan on and have a hot water bottle to keep me warm.