SOA...it's worse than I thought :(

DMPhereIcome

joolzred wrote: »

The hard reality is that you are currently living £355 over your income. You need to cut £355 off your monthly spend or add £355 extra income. I would advise small savings on things like utilities, Sky, clothing, groceries - but you need to accept that your lifestyle will have to change! The cards must be cut up.... When the contract is finished/reduced the iphone can go - can be sold for several hundred pounds. You've been living as if you have an income of £4260 higher than actually have annually. I don't mean to sound harsh or nasty but I get the feeling from your posts that you may not have accepted the huge overspends. Yes 'things' are nice but you cannot afford to have/run these 'things' currently!

You may still need to arrange a DMP for the outstanding debts as I cannot see where you can gain an extra £355 a month in your budget. Even with a DMP you will have to cut up the cards and budget wisely.

Whatever decisions you make, you maybe need to analyse why you got into debt, what the triggers/emotional reasons were and really work hard to change the behaviours that got you into debt, getting help if needed.

Otherwise you could be back in the same situation in a few years' time. Good luck

You are right about the 'things', and I know what you're saying but really my budget for food, petrol etc is guess work at the moment - I also didn't account for school holidays so my 'child related expenses' (school dinners and swimming etc) aren't every week of the year so my SOA is distorted. I will be able to be much more accurate at the end of the month when I've really counted every penny

My phone is on a loooong contract unfortunately, and I've got BT vision which is phone, internet and tv combined as it was cheaper than sky and had no line rental on top, but again, this is in a contract for another year.

I've still not spent on a credit card or gone over my overdraft (11 days in and counting....) I'm in a better position this month as last month I was over the limit on all three of my cards and spent the best part of £300 just getting them in the 'black' (as it were...:o)

This month's aim is staying within limits and having a clearer picture of spending, only then can I see truly what position I'm in

I do still have a telephone appointment with Payplan this weekend to see what they say...

DMPhereIcome

Kantankrus_Mare wrote: »

Oh my god..................I'd completely forgotten that my mam used to do this when I used to take pack up. :rotfl:(Im 46 now)

Not sure if I was at school or college but remember having a fat flask with either spaghetti hoops ( which I still love) or some kind of soup.

Can remember getting some curious looks off other packer upperers but Im sure I appreciated something hot in the winter rather than another boring sandwich.

I think it's a fab idea, hadn't even thought of it till you and another poster had suggested it! little one would be well chuffed to be able to use the thermal bottle I bought for him for a school trip to the beach which hasn't been used since...who said I wasted money!

Bit of bread and butter to dunk too...lovely

DMPhereIcome

Oh and Pet Insurance...it's essential for me I'm afraid cos in the last two years I've spent over £4.5k on poorly pooches (on the credit cards) I see £14 a month as an investment

DMPhereIcome

I've just had my telephone appointment with Payplan...she's going to ring me back in about ten minutes with the 'results' of what to do.

I can't decide if I'm nervous or excited or both...

DMPhereIcome

dmp seems to be the way to go...although I've had to research how it may affect my job : ( ...eek!

SO, I've packed my bags and have moved over to the DMP mutual support thread although I'm not looking to start straight away so the next few months will be for saving every single penny :j

DMPhereIcome

Update...(for anyone who's still about!)

22 days in and still no overdraft charges :j

However....I'm not signed up with Payplan as I would have to declare it to CIlex (I'm training to be a lawyer...slowly!) and I'm not sure how that may affect me qualifying as it needs to be declared as 'prior conduct'. I've spoken to Payplan who say that as it isn't a legal contract such as an IVA there shouldn't be a problem but I want to speak to CIlex too but haven't had time to ring yet

And my slow cooker is my new best friend!

[Deleted User]

DMPhereIcome wrote: »

Update...(for anyone who's still about!)

22 days in and still no overdraft charges :j

However....I'm not signed up with Payplan as I would have to declare it to CIlex (I'm training to be a lawyer...slowly!) and I'm not sure how that may affect me qualifying as it needs to be declared as 'prior conduct'. I've spoken to Payplan who say that as it isn't a legal contract such as an IVA there shouldn't be a problem but I want to speak to CIlex too but haven't had time to ring yet

And my slow cooker is my new best friend!

still here - good luck!

girlatplay

I'm still keeping an eye too

Good work

Heffi1

Glad to see you are still at it, I agree about finding out if a DMP will affect you negatively with work before you sign the dotted line, if it doesn't then it will be all systems go.

How is the spending diary coming along, is it any clearer yet where your discretionary spending is happening, it is quite an eye opener and I nearly fell over once I analysed how much I was spending on a coffee each morning on the way to work (£150 per month)

DMPhereIcome

Evening everyone, thank you for sticking around, it's really nice to know you're here :A

The general update is that I haven't had a chance to phone CIlex yet as privacy in our office is nil and I have been super busy but should be able to get to it this week by hiding in my car one lunch time

I also haven't phoned the stop smoking lady to re-arrange my appointment yet (I'm dreading speaking to my sister later as she will disapprove in a nice way which makes it SO much worse!:o:o)

I also can't help thinking maybe I should avoid the DMP as my mortgage deal is up in May and don't know how it may affect better mortgage rates?

The theme (in case you hadn't noticed) is the closer I get to actually getting on and doing the DMP the more things keep cropping up to dissuade me:o:o:o

I need a kick up the 'you know what'...or at least some practical advice about these things before I trash my credit record and take the plunge..

In my head I keep thinking that, as one debt finishes in feb next year, and then another six months later etc etc, would I be better snowballing and see how I go, still with a view to money save in the extreme in all other areas?? Or just get on the DMP and be done with it.

Any advice, kicks up the 'you know what' or motivation of a nicer kind very gratefully received...

Yours
BigWimp