Starting married life, it's time to focus on waving goodbye to debt!

dd1981

MinniMe wrote: »

sounds like you have hit the ground running!!

Just need to keep running, can stop when all this debt has passed by me

dd
x

dd1981

jwil wrote: »

Good luck

Thank you

dd
x

dd1981

Day 5

Had a great day yesterday although crashed at 8:30pm last night, lack of sleep caught up! Been up since 6am today though! Last day of holidays before back at work tomorrow Gonna make the most of it though!

Wee bit sad though coz my brothers girlfriend came round yesterday to pick up some stuff she left (she cat-sat for us while we were away) and broke the news that her and my brother have split up My mum hadn't said because my bro's gf wanted to tell us herself, was so sad coz she got really upset and I was too. Am not going to lose touch with her though, we have become good friends over the years. My bro has just gone to USA to work for 3 months so that had triggered the break up although she said it had been coming for a while. Very sad but hopefully for the best for both of them.

Todays plans are....

*List printer on Gumtree as didn't manage to do it yesterday
*'Supervise' husband who has decided he is clearing out cupboard in hall - otherwise he will throw out potential trasures that could go onto ebay
*List picture frames on wedding forum (used different frames for each table with guests names on them as our table plan for our wedding)
*Do a meal plan for the week and maybe do an online shop

Me and my lovely new husband sat down and had a big money conversation yesterday. We have both agreed to budgets for different things and have both taken money out of the bank as our 'spending' money to last us for 4 weeks (we both get paid 4 weekly) I think we have given ourselves a little too much but we are going to keep track of our spending using an app on our phones and anything left over at the end of the month will go towards debts and then next month we will reduce our budget (hopefully!) and just pay extra to debt straight away. We will be putting an extra £140 towards debts above minimum payments too.

Our budgets are....

£240 petrol/diesel (too high I think but again any left over will go to debt and we will reduce budget next month)
£400 spending money- this will cover anything that isn't food, petrol, gifts or car.
£200 food
£50 gifts (saving for Christmas too)
£30 car (to save for tax, parking permits)

Anything else is bills or credit card payments. Shall do a proper SOA soon when have got all the info I need. Not really able to look at previous spending as DH used cash quite a lot for spending so don't know where it went whereas I always use my card. Now we are both going to use cash but keep track of where it is all going then re-work our budgets if necessary

Looks like all my wedding sweetie buffet stuff will sell easily as there is lots of interest so thats great Going to see my mum today to re-live the wedding and tell her all about the honeymoon!

Hope you all have a great day and thanks soooo much for all the support

dd
xx

HeadAboveWater

Great teamwork you and hubby

Sorry to hear about your bro and his gf That was really good of you to tell you herself. That just shows the relationship you've got with her and how much respect she has for you. Hope she's ok, but she's got a good friend in you forever

dd1981

And I'm back!!!

Been crazy busy the past few days being back at work and have never had a chance to get on here! still been debt busting though and am amazed how well me and DH have done in keeping track and saving money! Am really impressed how much DH is on board with this, he has really switched on to the money saving, debt busting mission

First day off today so got so many things whizzing round my head that I need/want to do!

*List more wedding stuff on wedding forum for sale
*Put printer on Gumtree (still not done this!!)
*Email honeymoon company card details as getting a refund for a nights accommodation!
*Make list of where/who I need to change name with
*Get wedding nails taken off-sad!
*Do washing
*Make attempt at starting the mountain of ironing
*Get ingredients for making cake for DSS birthday cake
*Wrap presents for DSS birthday

Oh jeez that's a lot of stuff to do!!! Fingers crossed I manage to get a few things done at least Off to update my signature now! Am really pleased with how much we have managed to pay off so far so long may it continue at this speed of debt busting!

Thanks for reading

Dd
x

dd1981

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 0 (not that live with us but DH has 2)
Number of cars owned.................... 2

Monthly Income Details
Monthly income after tax................ 1400
Partners monthly income after tax....... 1600
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 3000

Monthly Expense Details
Mortgage................................ 426
Secured/HP loan repayments.............. 38
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 130
Electricity............................. 85 (gas and electric package)
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 74
TV Licence.............................. 12.12
Satellite/Cable TV...................... 85 (phone, tv and internet package)
Internet Services....................... 0
Groceries etc. ......................... 250
Clothing................................ 20
Petrol/diesel........................... 300
Road tax................................ 10
Car Insurance........................... 67
Car maintenance (including MOT)......... 10
Car parking............................. 10
Other travel............................ 5
Childcare/nursery....................... 0
Other child related expenses............ 320 (maintenance payments)
Medical (prescriptions, dentist etc).... 5
Pet insurance/vet bills................. 0
Buildings insurance..................... 15 (includes contents)
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 50
Haircuts................................ 10
Entertainment........................... 400
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 2322.12


Assets
Cash.................................... 0
House value (Gross)..................... 250000
Shares and bonds........................ 0
Car(s).................................. 12000
Other assets............................ 0
Total Assets............................ 262000


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 79000....(426)......0
Secured Debt.................. 6000.....(38).......0
Total secured & HP debts...... 85000.....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
RBS............................3381.51...90........17.9
RBS Platinum...................3155.19...31........0
Nationwide.....................1770.52...25........15.9
Old debt.......................4160......320.......0 (DH has a trust deed that ends Sept 2013)
Virgin.........................4098.6....40........0
MnS............................3942.4....100.......0
Total unsecured debts..........20508.22..606.......-


Monthly Budget Summary
Total monthly income.................... 3,000
Expenses (including HP & secured debts). 2,322.12
Available for debt repayments........... 677.88
Monthly UNsecured debt repayments....... 606
Amount left after debt repayments....... 71.88

Personal Balance Sheet Summary
Total assets (things you own)........... 262,000
Total HP & Secured debt................. -85,000
Total Unsecured debt.................... -20,508.22
Net Assets.............................. 156,491.78

Created using the SOA calculator at https://www.stoozing.com.
Reproduced on Moneysavingexpert with permission, using other browser.

dd1981

Thought I'd do my SOA so if anybody has ay advice then I'd be grateful Be gentle lol

dd
xx

HeadAboveWater

dd1981 wrote: »

Be gentle lol

Would we ever be anything but?!?!? :rotfl:


Just a couple of things from where I'm looking...

Mobile phone............................ 74
Ouch! I'll assume this is for both of you? But still very high. Esp when you have phone in your other package. Near end of contract? Can you reduce?

Satellite/Cable TV...................... 85 (phone, tv and internet package)
As before - can you reduce this a bit?

Groceries etc. ......................... 250
For 2? We'd spend on average £150-£200 a month for 2 adults and 3 teenagers. Try to shop about, go with packed lunches, own brand stuff, reduced sections...

Petrol/diesel........................... 300
High but very likely with 2 cars unfortunately

Presents (birthday, christmas etc)...... 50
Is this saving throughout year for Christmas and stuff? Seems high per month. Can you reduce the amount you spend on each person?

Entertainment........................... 400
:eek: Seriously!?!?!?!? Would need more info on what exactly this is going towards but shockingly high!!! Again, alternatives for nights out, eating out etc.

And your debts - put the most £ towards the one with the highest APR.

That's my 2 pennies worth!! lol Hopefully something in this post will help, but I know there'll be plenty of others to add to what I've said and probably talk about more house-y stuff!!

Good luck!!

EJG1982

Hiya DD :wave::wave:

I just loved reading your journey so far, and a massive congrats on wedding, you have a 'husband'... you are his 'wife' .... you and your 'husband' are doing very well on project debt attack together as 'husband' and 'wife' :rotfl::kisses2::kisses3: :rotfl:

Made me smile when i saw you locked yourself out online, im always doing this! Everything i have is online, no paper statements here, so so so much easier to keep track of (except when locked out :mad:)

A big smile to your budget aswell, exactly the same as me and the fella (not yet husband ) We have £240 fuel (3 tanks) usually only use 2, £200 food, averages £150 and £100 weekly for just 'stuff' if needed.

We've done 2 months so far and coming up for 3rd next week on pay day, first went ok but this month was a little wobbley but kept on track.. Be interesting to see how you go as your a good comparison being so closely matched on budget figures :T:T

Im subscribed and cant wait for your posts, best of luck and with determination like you show on here im sure you'll do it..

Here's to the future :beer:

EJG1982

dd1981 wrote: »

*'Supervise' husband who has decided he is clearing out cupboard in hall - otherwise he will throw out potential trasures that could go onto ebay
xx

oh and i proper giggled at this, its so me!!

i always moan i want him to help but cant handle it when he does, stand there watching so i can say where things go :rotfl: