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Returning after decade relationship split and need to get back on track
Sazdaz
Posts: 241 Forumite
I have bungeed on and off this site for the last couple of years but now really need to do something after I have split from my partner who I have been with for the past decade. At my age I need to grow up and realise I need to be more sensible with my finances and seem to have made a giant step forward since he has left.
He has taken a majority of the debt with him as alot was in his name but left me alot of debt with the electric / gas / water etc. Due to health problems I cant work in a 9 - 5 job but work hard for myself.
I am managing the mortgage etc but not everything and have no money left for socialising etc. So want to be able to pay all the bills on time, have a drink with friends once a month and prove I can stand on my own too feet.
I have got the shopping bill right down but today once I have finished my paperwork I need to do a SOA to post on here, and do letters to all the people I owe money explaining situation and to try and set up suitable payment schemes.
Have joined make £10 a day challenge as first challenge to join but currently aiming at £10 a week initially so that I dont put too much pressure on myself initially. If I can earn that I can use that for food budget.
I have to keep to it this time and get myself on the straight and narrow.
He has taken a majority of the debt with him as alot was in his name but left me alot of debt with the electric / gas / water etc. Due to health problems I cant work in a 9 - 5 job but work hard for myself.
I am managing the mortgage etc but not everything and have no money left for socialising etc. So want to be able to pay all the bills on time, have a drink with friends once a month and prove I can stand on my own too feet.
I have got the shopping bill right down but today once I have finished my paperwork I need to do a SOA to post on here, and do letters to all the people I owe money explaining situation and to try and set up suitable payment schemes.
Have joined make £10 a day challenge as first challenge to join but currently aiming at £10 a week initially so that I dont put too much pressure on myself initially. If I can earn that I can use that for food budget.
I have to keep to it this time and get myself on the straight and narrow.
APR NSD - 0/10
Paid off in 2013 so far £125.00
April Money made - £18.00
Paid off in 2013 so far £125.00
April Money made - £18.00
0
Comments
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Ok well that was scary doing a SOA and has hit me in the face that I need to earn more money as at the moment my outgoings is more than I am bringing in.
Right here goes:
IN
Wages - £500
Extra Wages £430 - this is minimum as sometimes earn a bit more.
TOTAL - £930
OUT
Mortgage - £650
Council Tax - £90
Water - £30 - owe £373 as OH wasnt paying it like I thought he was
Eletric - £15
Gas - £15 - Owe total of £596 as above
TV/PHONE/BBAND - £50 - cant reduce this as on a contract that we agreed when together
Mobile - £30 - also stuck in contract
Moorcroft - £25
Barclays Loan to pay off ODraft -£90
CAR - Paid for by business
Petrol - paid for by business
Food - £40 including dog food
Total outgoings - £1054 so £124 short.
Ok need to find more work, and make more money.APR NSD - 0/10
Paid off in 2013 so far £125.00
April Money made - £18.000 -
Ok well that was scary doing a SOA and has hit me in the face that I need to earn more money as at the moment my outgoings is more than I am bringing in.
Right here goes:
IN
Wages - £500
Extra Wages £430 - this is minimum as sometimes earn a bit more.
TOTAL - £930
OUT
Mortgage - £650
Council Tax - £90
Water - £30 - owe £373 as OH wasnt paying it like I thought he was
Eletric - £15
Gas - £15 - Owe total of £596 as above
TV/PHONE/BBAND - £50 - cant reduce this as on a contract that we agreed when together
Mobile - £30 - also stuck in contract
Moorcroft - £25
Barclays Loan to pay off ODraft -£90
CAR - Paid for by business
Petrol - paid for by business
Food - £40 including dog food
Total outgoings - £1054 so £124 short.
Ok need to find more work, and make more money.
You've missed off TV Licence0 -
SoA calculator at http://www.stoozing.com/msoc/soacalc.php. Press calculate, press format for MSE, press highlight in the popup window and right click to copy all the highlighted text including format codes. Copy into a post.There is a standard SOA thats used by othere, here it isHi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
Household Information[/b]
Number of adults in household........... 1
Number of children in household.........
Number of cars owned....................
Monthly Income Details
Monthly income after tax................ 930
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 930
Monthly Expense Details
Mortgage................................ 650
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 90
Electricity............................. 34
Gas..................................... 15
Oil..................................... 0
Water rates............................. 30
Telephone (land line)................... 0
Mobile phone............................ 30
TV Licence.............................. 12
Satellite/Cable TV...................... 50
Internet Services....................... 0
Groceries etc. ......................... 40
Clothing................................ 0
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 12
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 973
Assets
Cash.................................... 0
House value (Gross)..................... 162500
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 162500
Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 162500...(650)......0
Total secured & HP debts...... 162500....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Barclays Loan..................1900......90........0
Moorcroft......................400.......25........0
Total unsecured debts..........2300......115.......-
Monthly Budget Summary
Total monthly income.................... 930
Expenses (including HP & secured debts). 973
Available for debt repayments........... -43
Monthly UNsecured debt repayments....... 115
Amount short for making debt repayments. -158
Personal Balance Sheet Summary
Total assets (things you own)........... 162,500
Total HP & Secured debt................. -162,500
Total Unsecured debt.................... -2,300
Net Assets.............................. -2,300
Havent included Car bits as the Car is owned by the business and I dont pay for anything for it, or petrol etc. Thanks for the pointers everyoneAPR NSD - 0/10
Paid off in 2013 so far £125.00
April Money made - £18.000 -
My first observation is that the satellite tv has to go. Can you get a 6 month period of interest only on your mortgage to let you clear the debt?May 2018 - £159k + £3.5K CC - let the countdown begin!
March 2019 - CC gone and bye bye M2 on 31st! £140k to go.:j0 -
Do you have sufficient room for a lodger?
You can earn £370 per month and pay no tax.
With respect to satellite - see if you can downgrade the package rather than end it. They may allow this.
Ditto phone.If you've have not made a mistake, you've made nothing0 -
Are you getting the 25% discount on your council tax ?0
-
Buildings insurance..................... 0
Is this correct or is it combined with contents?0 -
Satelite includes phone line and broadband and they wont let me reduce.
Same with phone at moment.
Building is included in mortgage.
Think answer is to earn more money.APR NSD - 0/10
Paid off in 2013 so far £125.00
April Money made - £18.000
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