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Head out of the sand, into the light.
SillyG
Posts: 39 Forumite
Hi,
So I best start at the top! I have always had credit sincethe age of 18 and I have been bailed out by my parents twice and am now sittinghere after 2 failed consolidation loans.
I am 28 have a really good paid job and still can’t stop relayingon my credit cards. I have a problem with stress and seem to have to spend to controlit if that be drink, food or slot machines. I am currently seeking help with myproblem and was advise that getting my head out of the sand (Not actually thewords the doctor used) and write everything down.
My SOA is based on me only even though I have a wonderfulOH, he is aware of my debt and is supporting me though this and I can’t believehow lucking I am. I pay all the Bills and Food. I know there isn’t much to cutdown on but I thought I would put it up as it another pair of eyes might sayotherwise. Things I know I have to cutout are Drinks after work, Meals at work, Cigarettes and Slot Machines. My SOAshows a surplus of £300 and that goes in to the arcades plus more.
I have made a head way in cutting up all my Credit cards andsetting myself pocket money which my OH will give me when I need it.
Thank you all for your support.
G
Statement of Affairs and PersonalBalance Sheet
Household Information
Number of adults in household........... 1
Number of children in household.........
Number of cars owned....................
Monthly Income Details
Monthly income after tax................ 1603
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1603
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 91
Electricity............................. 39
Gas..................................... 39
Oil..................................... 0
Water rates............................. 22
Telephone (land line)................... 0
Mobile phone............................ 35
TV Licence.............................. 13
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 179
Clothing................................ 10
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 40
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 35
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 10
Entertainment........................... 70
Holiday................................. 10
Emergency fund.......................... 15
Total monthly expenses.................. 618
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0
No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
HSBC...........................1068......50........20.09
Capital one....................1665......70........34.9
Barclay Card...................2385......50........8
Nationwide.....................4700......212.......0
Tesco..........................10700.....286.......0
Total unsecured debts..........20518.....668.......-
Monthly Budget Summary
Total monthly income.................... 1,603
Expenses (including HP & secured debts). 618
Available for debt repayments........... 985
Monthly UNsecured debt repayments....... 668
Amount left after debt repayments....... 317
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -20,518
Net Assets.............................. -20,518
So I best start at the top! I have always had credit sincethe age of 18 and I have been bailed out by my parents twice and am now sittinghere after 2 failed consolidation loans.
I am 28 have a really good paid job and still can’t stop relayingon my credit cards. I have a problem with stress and seem to have to spend to controlit if that be drink, food or slot machines. I am currently seeking help with myproblem and was advise that getting my head out of the sand (Not actually thewords the doctor used) and write everything down.
My SOA is based on me only even though I have a wonderfulOH, he is aware of my debt and is supporting me though this and I can’t believehow lucking I am. I pay all the Bills and Food. I know there isn’t much to cutdown on but I thought I would put it up as it another pair of eyes might sayotherwise. Things I know I have to cutout are Drinks after work, Meals at work, Cigarettes and Slot Machines. My SOAshows a surplus of £300 and that goes in to the arcades plus more.
I have made a head way in cutting up all my Credit cards andsetting myself pocket money which my OH will give me when I need it.
Thank you all for your support.
G
Statement of Affairs and PersonalBalance Sheet
Household Information
Number of adults in household........... 1
Number of children in household.........
Number of cars owned....................
Monthly Income Details
Monthly income after tax................ 1603
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1603
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 91
Electricity............................. 39
Gas..................................... 39
Oil..................................... 0
Water rates............................. 22
Telephone (land line)................... 0
Mobile phone............................ 35
TV Licence.............................. 13
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 179
Clothing................................ 10
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 40
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 35
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 10
Entertainment........................... 70
Holiday................................. 10
Emergency fund.......................... 15
Total monthly expenses.................. 618
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0
No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
HSBC...........................1068......50........20.09
Capital one....................1665......70........34.9
Barclay Card...................2385......50........8
Nationwide.....................4700......212.......0
Tesco..........................10700.....286.......0
Total unsecured debts..........20518.....668.......-
Monthly Budget Summary
Total monthly income.................... 1,603
Expenses (including HP & secured debts). 618
Available for debt repayments........... 985
Monthly UNsecured debt repayments....... 668
Amount left after debt repayments....... 317
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -20,518
Net Assets.............................. -20,518
LBM 24/10/2012
Total Debt = £21,737.00/£19914.00:eek:
23 Months to Go.
C/C = Cap1 - £2,300, HSBC £1,415/£1065.00, B/C £2,315
Loans = Tesco - £9,714, N/W -£4,720.00,[STRIKE] P2P £1,823.00[/STRIKE]
0
Comments
-
Hi and welcome.
Well your SoA looks fairly reasonable, if you can stick to it.
If you know you have £317 spare a month then could you not pay an extra £300 towards your debts as soon as you get paid, thereby immediately removing the temptation to spend it on anything else.
Good that you have cut up your credit cards - what about your bank debit card - are you carrying that with you? Do you need to take it to work? could you just take a fiver with you instead to work, which will reduce the opportunity for spending too much on meals at work, or drinks after work.
Try to switch all your DDs so that they go out just after payday, again to ensure the money is gone before you have chance to spend it.
If you do need to carry your debit card, then you could consider opening a second account - and then setting up a standing order to move money out of your main account to put towards things like presents, holiday, emergency fund etc.
You mention you smoke - have you allowed for the cost of that in your SoA somewhere? is that part of the £70 for entertainment?
Are Tesco and Nationwide both 0%? how long until the 0% deals finish? Or are these loans?
Good luck! Good that you are seeking help from the doctor, perhaps you might consider contacting GA as well for some advice and tips on stopping the gambing spends?A smile enriches those who receive without making poorer those who giveor "It costs nowt to be nice"0 -
Statement of Affairs and PersonalBalance Sheet
Household Information
Number of adults in household........... 1
Number of children in household.........
Number of cars owned....................
Monthly Income Details
Monthly income after tax................ 1603
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1603
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 91
Electricity............................. 39
Gas..................................... 39
Oil..................................... 0
Water rates............................. 22
Telephone (land line)................... 0
Mobile phone............................ 35
TV Licence.............................. 13
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 179 - what a strange number! Any chance of reducing this? Meal plans for the week, look in the cupboards for what you already have.
Clothing................................ 10
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 40
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 35
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 10
Entertainment........................... 70 - what does this include? is this an accurate figure?
Holiday................................. 10
Emergency fund.......................... 15 - good to see this here but do you actually save it somewhere?
Total monthly expenses.................. 618
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0
No Secured nor Hire Purchase Debts
Unsecured Debts
Description...............Debt......Monthly...APR
HSBC......................1068......50........20.09
Capital one.......................1665......70........34.9 - ouch! try to clear this one first, ASAP as it must cost you a bit in interest!
Barclay Card..............2385......50........8
Nationwide................4700......212.......0 - as this is at 0% I'd be tempted to pay a little less off this one each month and more onto the Capital one CC to get it paid off quicker...
Tesco.....................10700.....286.......0 - ditto above
Total unsecured debts.....20518.....668.......-
Monthly Budget Summary
Total monthly income.................... 1,603
Expenses (including HP & secured debts). 618
Available for debt repayments........... 985
Monthly UNsecured debt repayments....... 668
Amount left after debt repayments....... 317 - do you have this spare every month?
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -20,518
Net Assets.............................. -20,518
Made some suggestions above - your SOA looks quite good and you should have quite a bit spare every month. As you're in debt, I presume you don't! Get a spending diary and write down every last thing you spend into it - you will soon see a pattern emerging and then can do something about it!
Do you have anything you could sell? Have a look around your hosue!
And, lastly, and I expect you know this already really, stay away from the arcades. No one ever gains from them, except the owners.
Good luck with your journey, you can do this!Be who you are and say what you feel because those who mind don't matter and those who matter don't mind.
Personal Finance Blogger + YouTuber / In pursuit of FIRE
0 -
people have covered the SOA above
re the slot machines, I thought i would say that there is a gambling charity here in the UK ( i believe the only one)
I am very close to this organisation, they have manned advice lines all day long,
they are called Gamcare, http://www.gamcare.org.uk, they also have online 24hr support and can help with therapy. they can also tell casions etc to block you for your own good if you find you cannot stop yourself.
I wish you all the very best in trying to conquer your addictions.
Although I can say this because I dont have the addiction but have lived with the consequences, sometimes it is just money and people are humans and not gods. You need to be able to forgive yourself and sometimes what we take for granted is what some people are praying for.IF YOU THINK YOU ARE SO CLEVER, THEN WHY ARE'NT YOU RICH?
Debt = [STRIKE]21,003.22[/STRIKE] 0! :j/Car [STRIKE]4500[/STRIKE] 2875
Savings 12k in 2013: NUMBER 093 = 1100.31/4000
Wedding fund 1045/3500 LOL!
Crazy Clothes 2013 NO 002= 376.64/500/No MoreBooks 0/300 -
Hiya, I don't really want to call you sillyg, x I can not give much advice as I am very new here myself. 3 days ago I was sooo down and the support on this site has lifted me so much, my situation has not changed "yet" but it will. Just to know there is help and support here. I cannot help with the slots but I do suffer with food addiction and I waste money too, hence my user name , I fight my food addiction, every hour of every day. Sometime I win sometimes I lose. I am sure overeating/gambling/alcohol, goes hand in hand with overspending for a lot of people. I will keep and eye on this thread and support where I can
Do what you always do and you will get what you always get.
Bank of Brother £12000 -
Thank you all for your replies, My counselling is for gambling which is linkedto stress. I haven't really given it 100% but after a really bad day enough is enough.
The entertainment includes my smokes and as I did say I should have £300left every month but I don’t as I throw it away on silly things. I will start aspending dairy today and a debt dairy on here.
The food is £40 a week. I do it online and make sure that we do not go over that. The £15 a month goes to my OH for if we need anything done to house.
The Tesco and Nationwide are loans so I am unsure what APR to put on theseas the debt balance includes the interests. I have looked at the snowball calcand will concentrate all my efforts on the Cap one card to start.
Here’s to the next 3 years. :eek:
LBM 24/10/2012Total Debt = £21,737.00/£19914.00:eek:23 Months to Go.C/C = Cap1 - £2,300, HSBC £1,415/£1065.00, B/C £2,315Loans = Tesco - £9,714, N/W -£4,720.00,[STRIKE] P2P £1,823.00[/STRIKE]0
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