Build a new life in 3 yrs.

Smithfield

So bit about me by way of introduction. I’m a guy, early 30’s and recently finished a Law degree (I was a full time mature student). Since leaving university last may I have been on JSA, I keep getting to the final round for jobs and just missing out! Anyway I have finally been offered a 12 month training position with a local pretty posh estate agent. It’s only £6000pa (3 days a week) but it’s a start at a new career and me off JSA! Hopefully I should be able to get some housing benefit as well initially but hoping for a second job once I settle in and start getting my debt cleared.


I need to pass my driving test to get the job, so that’s been a drama, worked out its cost me close on £1000 so far in the past month, sit my test for the first time this week. Bit worried if I don’t pass it where I’ll find the cash to have other go, but i’ll cross that bridge when I come to it.


Debt wise the whole learning to drive thing has my finances a bit in chaos getting by on JSA has been pretty tight too and university built up some debts etc.



This month HSBC are charging me £75 in overdraft fees, I’ve missed payments for capital one and my HSBC credit card as well. (total is approx £150). Shambles.


I really want to get my life in order over the next three years, so I’m career wise in a decent job and can buy my first car/house.

Goal one – (2 months or end of Dec)
So the first goal is financial stability, So that I am not over overdraft limit and no late fees and return to making payments on time. (also start repairing credit rating by doing this)


Goal two (12 months or End Dec 2013)
Pay off all outstanding debts and open a cash ISA in 12 months, I would also like a basic holiday (nothing too flash) next summer, I’ve not had a holiday the past two years.


Goal three (3 years)
Save £10,000 within 3 years and have a decent credit rating.


I owe
£700 HSBC CC
£600 HSBC Overdraft
£900 Capital one Visa (highest interest)
£450 budgeting loan 0% interest


Outgoings.
Rent (incl rates/council tax) £200pm
Electric £25pm
Internet £10pm
Oil £60pm
TV licence £4pm
HSBC Min payment £20
Capital one Min payment £35


Luckily I'm used to not spending much as a student/JSA. My outgoings aren't huge and I have no children. So the salary from the estate agent would pay my bills. So any second job could be used to clear debts (beginning with capital one).

Smithfield

So day one.

Bought watch battery for watch to fit myself. £1.24 (last time cost £14 for the exact same battery to be fitted!)

Spent £27.50 on groceries in Sainsbury's, all basics stuff that I can make casseroles/chili etc with and freeze. This should do me for a week at least, maybe more. Walked to Sainsbury's and a back saving £3.50 on buses too!

Spent £3 on 2x2l diet coke (its a terrible addiction lol)

So at least I wont starve for the next while and will be eating ok.

Forgot coffee though. ARGHH.

Hugandroll

Hi, well done for facing up to this. I started my journey yesterday so am at the same point in the road as you (but owe so much more). Will subscribe to track your progress.

Smithfield

Thanks Hug and Roll, I suppose at the end of the it doesent really matter how much you owe when you start, just that you start and that your taking control of your finances for a better/happier life, you'll get there in the end.

Ok, So thanks to yesterdays shopping, today will be a NSD :j
A masala omlette (nigella lawsons recipe lol) for brunch. (store cupboard spices/egg/half an onion)

And sausage pasta for tea (jamie oliver this time)

Gonna do some more washing and the dishes.

AlTeREgO

Hi Smithfield & Hugandroll :wave:

Good luck to both of you

Good luck with the driving test.

Is the Job of estate agent dependent on if you pass or not? would you also need to have use your own car for this position, if so its going to be an awful struggle to buy and run a car and house or flat on that wage (although i do believe being able to drive does help when looking for jobs )
Have you checked with the benefits office if / what benefits you will be intitled to should you take the position?

Have you thought of any other ways to up your income? check out the boards here house sitting, dog walking, babysitting, selling on ebay?

Will subscribe to see how you get on best of luck

Smithfield

I've my test on Thursday. They haven't asked for me to own a car, just be able to drive, I'm presuming they have company mini's and the like, most estate agents do. So need to pass the test, but not own a car.

I should get some housing benefit, with salary that low, but it isnt enough hours for WTC (30).

They had mentioned working sat mornings and doing the odd show home and the like of a sunday which would be extra money too.

I think the best thing long term would be a second job. An extra £100 a week would have me closer to 900ish and really able to get on top of things.

Smithfield

Today's spends.

200g Jar of Coffee £2.05
Paracetamol 67p.

It was raining and I just couldn't face walking to Sainsburys and back, I know these could have been gotten cheaper I've the cold and feel pretty hammered with it as well.

Food wise,

Lunch - Chorizo, onion, parmesan omlette and bread.
(all from shop on monday)

Dinner - used the other half of a packet of sausages to make more pork sausage pasta from jamie oliver. Again nothing spent as all from mondays shop. (approx portion cost, maybe £1.70ish)

Driving test tomorrow, this is a major worry. Don't think I'll pass first time and if I don't it's another £145 + a few lessons to find again (say £200). Major worry.

My test and signing on time are the same day, so will have to miss signing on and sign on Friday, will bring test certificate with me. Should be ok. Will speak to housing benefit about how much could claim in future with job.

Smithfield

Well failed test. Weather was torrential rain on thurs, so traffic was bedlam.

I guy nearly crashed into me the a minute later then had to do reverse round corner. Horrendous, nerves went out the window. Ended up with three serious. Was my first time though.

So that leaves me £200 to find. So listed 8 items on ebay tonight and gonna list another few over weekend. I had a bike in GF's, so gonna finish building that up and put it on gumtree as well.

beanielou

Such is life.
When can you resit?
When do you start the job?

Smithfield

@BeanieLou
When can you resit? (need £45 test fee, £80 insurance and some lessons to sort the bumps = £200, plus an available date)

When do you start the job? They have arranged cover for the meantime, I have to pass test before I can begin (catch 22).

Ok, So NSD, I made dinner last night so GF made scrambled eggs on toast for breakfast. Dinner was a prawn omlette/fritatta type thing.

Got a letter from hsbc to sort a payment plan or they will default. So best see them monday and try and deal with that.

So building up a bike to sell, plan is to have that finished and on gumtree by Monday night. Listed ten things on ebay. I have a pretty posh japanese chefs knife I might list on a forum, might get £60 for that too.

Applying for a budgeting loan too, if it helps me get all this sorted and off benefits, its in everyones interest I suppose.

Trying not to get too down about all this and just crack on getting as much cash as I can up.

Hugandroll

Good luck with items you want to sell. Have my fingers crossed you can get the money to resit your test soon.