I'm still a problem!

Motoko_2

Hope everyone's having a good day so far.

New plan for paying off debts
Stick with Churchwood, bite the bullet on the fees untill the small debt is paid leaving me with one. I can then go straight to Santandar and pay them direct - they will be receiving more than the original loan payment - how could they refuse!

The reason is because I need to get a copy payslip for each creditor and the person I need to ask is a gossip monger. I don't have any other reason to ask for one - even though it's none of their bl***y business.:mad:

On the plus side I have paid an extra £20 to Cap 1 the smaller debt and set up and SO for an extra £20 per month. Also found out that I was one payment behind on my schedule so have actually paid more of Cap 1 than I thought

Motoko_2

There will be no spending on the sanie van today bringing weeks grand total to £1.90 £3.10 to go in the 1% challenge tub:)

Cap 1 have received the £20 I paid them so I can pay them an extra £30 to make up the £50 I was going to pay per month.

Spent yesterday lunch time reading the roll of honour, love some of the pearls of wisdom comments.

Yet to have my first no spend day:( - unless the ebay items i'm selling are not paid for before I go home.

Happy Friday everyone

[Deleted User]

Motoko wrote: »

I do have a partner but our finances are completely seperate so have put in everyting I pay towards bills and rent


Monthly Income Details[/b]
Monthly income after tax................ 1466
Total monthly income.................... 1466[/b]

Monthly Expense Details
Rent.................................... 312.5
Council tax............................. 69.5Does this get paid over 10 or 12 months?
Electricity............................. 10
Gas..................................... 28
Water rates............................. 15.36
Mobile phone............................ 36 In this for 2 years as I really needed that iphone upgrade!!!!!!!!!!!!!!! (no I didn't I was being ohhh must have it!!)When is the 2 years up? Is there anyway to reduce this package?
TV Licence.............................. 12.12
Internet Services....................... 9 wifi modem for xbox live (his) I use to connect to internet via phone sometimes)
Groceries etc. ......................... 130 OH says we need £260 per month for food and lunches. OH is incharge of this budgetBut this is not all you spend, you additionally spend on lunches?
Clothing................................ 28 Charity shops and EbayDo you have any clothes that you can e-bay that are in good nic and you no longer wear?
Petrol/diesel........................... 75
Road tax................................ 10.83
Car Insurance........................... 36.25 High because I had an accident earlier this year and insurance went up by £10 per month
Car maintenance (including MOT)......... 0need something here
Car parking............................. 0never?
Other travel............................ 0never?
Medical (prescriptions, dentist etc).... 0never?
Contents insurance...................... 0none?
Presents (birthday, christmas etc)...... 10is this realistic?
Haircuts................................ 10
Entertainment........................... 10What does this cover?
Emergency fund.......................... 0 perhaps you need a little here?
(Unnamed monthly expense)............... 0
Budget card............................. 20 September was the first month hopefully saving for car tax!
Toiletries.............................. 98 Facial £48 of this. My tolietries budget is obviously pants!!I think that you already know that this needs cut, so I'll not say anything
Fitness................................. 80 What does this cover?
Pension................................. 50
Churchwood.............................. 300 This is my debts I am paying a debt managment company to deal with them, have done for 3 years. Looking on this site the £53 in fees could be going towards them debts!Get advice from one of the free debt charities (you do not need to pay for a DMP) - there's a sticky at the beginning of the page that shows a list of who to contact
Total monthly expenses.................. 1350.56

Assets
Cash.................................... 0non-monthly bills - if you find it difficult, put a certain amount on pay day into savings via DD, but make it a savings account that you can only access in branch (not online or via cash point) - this will reduce the chance of impulse spending
Car(s).................................. 300
Total Assets............................ 300[/b]

No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-


Monthly Budget Summary
Total monthly income.................... 1,466
Expenses (including HP & secured debts). 1,350.56
Available for debt repayments........... 115.44
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 115.44you have said that you have about £50 left at the end of the month? Where does the other £100 go? Keep a spending diary and note down everything that you spend, from the really small things that cost pennies right up to the bigger things - you will soon get an accurate picture of what gets spent and where

Personal Balance Sheet Summary
Total assets (things you own)........... 300
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 300

Have added up all the other little bits I have spent over the month and it comes to £134!Do you know what on though? Are they necessary, and if not then how could they be cut back?

That hits the nail on the head perfectly. Might just print that out and put it in my diary for motavation

I actually kept a spending diary for September and have used those figures for the above SOA. That's great idea - does anything stand out to you as an over spend/unnecessary? - it's all very well us saying that money can be saved here, and money can be saved there, but if you can't start to think more rationally about these over-spends, then ultimately your habits won't change

I have made some comments above, I hope at least some will help. Also there's a challenge on here somewhere, for using up all toiletries before buying more - perhaps have a look at that thread? Also, could you e-bay the toiletries that you bought and never used/will not ever use?

hth

d9

Motoko_2

Domino9, thank you for your comments.
I have tried to answer them in the order they appear so hoping it makes sence!

Council tax - over 10 months OH will not do over 12. So I can either save the money or pay it off my debts or one month for each
Mobile - 18 months to go, can't reduce it have tried.
Car maintenance - forgot this one, thanks for the nudge!
Car parking - usually no more than £5 per month
Other travel - £20 per year on train, otherwise walk or car everywhere
Presents - £10 a month is more than enough. Once nephew was born we all stopped buying pressies for each other. Its just nephew and a silly pressie for sister at christmas.
Entertainment was covering the lottery - which I havent done for 3 weeks now.
Emergency - forgot this one to!
Fitness - I have already stopped a couple of classes a week bringing it down to £45 pm. It gets me out the house and makes me feel good.

I am ebaying clothes as we type and toiletries could proberly follow

Cash assets - looking to open an ISA that I have to write to request my funds

A lot of unessary spending in September - writing it down really did make an impact:eek:

I have joined the No buying toiletries in October challenge and the NSD challenge.

Hope I haven't missed anything and sorry if there's any dodgy spelling!:)

Motoko_2

Morning everyone,

I hope you don't mind but I need to vent after an augument with OH last night - yup about money.

I mearly pointed out that I may use the 2 months where we don't pay council tax to put towards my debts. Oh response - Why do you want to pay them off any quicker? Because one month would equate to 2 months payments for cap 1. OH response don't be bloody stupid and let Churchwood deal with it!!!! Anyway this went on for for a while until I pointed out that if I can be debt free quicker why not, which really seamed to hit a nerve and a response of 'conversation over'.
I feel like he doesn't want me to be debt free, well guess again matey it's going to happen sooner than you think.

On the plus side I helped a work collegue with a dilema, they were debating weather to use their savings to pay off the CC and I said if they could find a savings account with the same APR as the CC then continue saving. They came to me later in the day and said they had paid it off

Have a good day everyone and thanks for letting me grrrrrrrr:)

kerri_gt

Forgive me if I'm speaking out of turn here but I've just read your thread and it seems as if OH likes the fact your debt gives him a reason to have control over the household finances. Is there some agreement that once you are DF you'll both manage the bills, get a joint account or something similar?

And good luck on the NSD thread, that really helped my odd £1/£2 spends at lunchtimes (not that you'd think from my sig as I fell off the wagon a bit) - that challenge gets really addictive, and it's great at also making you think whether a 'need' item is an actual 'need' or a 'want'.

kerri_gt

I've been thinking about my last post and wondered if I was a little harsh on your OH. The issue seems to be that he wants churchwood to deal with your debts on your behalf rather than you. Could this be because despite what good intentions you have, he fears you may slip if left to make the payments yourself?

[Deleted User]

lauroar wrote: »

Hi OP! Well done for coming as far as you have up til now! One think I thought of is that if you are happy with the amount you're paying to your creditors and you really do have around £50 pm a few days before pay day, and you're worried you don't have any savings, why not put £50 into a savings account ON payday? Then come the end of the month it wont be there in your current account to tempt you to spend! .......
Good luck!

Just about to suggest this myself! good luck OP & maybe try to talk to someone about the emotional reasons/triggers behind your overspending.. it can only help!

tealady

Hi
I would defintely ditch Churchwood if you can, £53.00 per month equates to £636.00 per year, just think what you could buy for that (or how much quicker you would reach your debt free date)

bargainbetty

Motoko wrote: »

Hope everyone's having a good day so far.

New plan for paying off debts
Stick with Churchwood, bite the bullet on the fees untill the small debt is paid leaving me with one. I can then go straight to Santandar and pay them direct - they will be receiving more than the original loan payment - how could they refuse!

The reason is because I need to get a copy payslip for each creditor and the person I need to ask is a gossip monger. I don't have any other reason to ask for one - even though it's none of their bl***y business.:mad:

Honestly? Just send an email asking for the duplicates. Don't offer an explanation. If the person asks, say that it is for banking matters and leave it at that. You are not obligated to tell them anything.

This is £53 of your money per month that is being wasted. Doing that out of a sense of vague embarassment that someone might raise an eyebrow is somewhat foolhardy when you are making such huge strides elsewhere.

Your OH might be worrying that you are becoming independent and that he might be something that you leave behind. Let him know that while you appreciate his advice, you really want to clear the debt as soon as possible and would love to have his support on the choices you make.

The no-buying toiletries lot are lovely. I typed my list on a word document and then copied and pasted it so I wouldn't lose it - try that! 13 moisturisers? Amateur. I had 24