New to this-really need help!!!!!

moneymaker2

Hi Guys, I am also new to the board although I have been hovering around the site for a while.
My issue is the large figure you can see in my signature and the fact that my husband does not find this serious as he says that we can afford to pay for it each month.
I'm not doubting that we can't afford it, however even with snowballing it will take until 2018 till it is cleared and I will be 36. I really want to enjoy my family whilst they are young and in July I am expecting baby 2, so when the childcare costs add up i don't think that we would be scraping the barrel to find the money to cover the debts every month.
Sorry rant over. Nice to meet you all. L xxx

whatatwit

Hi Moneymaker, it's not easy when your OH is not quite on board with the DFW lifestyle.

If you want a few ideas, then post your SOA and the good folk on here will see what they can do.

silkglade

First and foremost WELCOME HUN :hello: :hello: :hello:

and congratualtions begining your DFW journey

We need to see your SOA first so we can advise you where cutbacks can be made and how to start tackling your debt.

moneymaker2

Income is a basic of £1200 for me and £1300 for my husband, also £39.96 per month child tax credit and £70 child benefit.
We can get bonus' but prefer not to count these .
Total income £2609.96


Mortgage £724.98
First Plus £336.84
Council Tax £90.00
Home Content Insurance £30.51
Water Rates £25.64
Gas Bill £30.00
Electricity Bill £25.00
Home Phone Bill £20.00
O2 £40.00
3G £40.00
AOL £14.99
Life Ins £13.95
Life Ins £9.95
Mortgage/secured loan protection £44.32
Food Shopping £200.00
Car Insurance £81.36
Petrol £100.00
Barclaycard £26.00
Barclaycard £176.00
Capital One Card £5.00
Monument Card £88.00
Alliance and leicester £30.00
HSBC loan £327.21
Cinema Trips £21.98
NTL / Sky Subscription £47.00
TV Licence £11.37

Total outgoings £2540.10

Avaliable income £69.86 (which normally goes towards daughter going horse riding, as this is the only "pocket money"she gets-she has to earn it though)

hypno06

2018 is only your starting point. Once you get tackling it, and addicted to snowballing, you will soon get that date down.

Have a look at the Olympic Challenge threads - these show how we are miraculously obtaining money from seemingly nothing - because of this challenge I have made over £3500 in about 5 months which has all been thrown at my debt, and has reduced my snowball date by almost a year as a result!

Ebaying, mystery shopping, matched betting for some, dog walking, quidco etc etc etc, all add up and all make the all important differences. Search the threads and you will soon be hooked!

petetidball

What are the interest rates and balances on the debts? You could get PAYG mobiles and save £60 a month if you can use £10 credit each, or go for the Virgin sim deal that was on Martins e-mail a few weeks ago. Cinema and Sky could be seen as a bit of a waste but with kids it can be difficult to get rid of either of these. Personally, I'd dump the horse riding. Cruel, I know, but if your daughter really wanted to ride, she could work at a stable and earn money that way to pay for herself, assuming she's of an age to do so. I really am nasty!:j

whatatwit

Thanks for posting, if you get any bonuses, what does this money get used for, or does it just get swallowed.

Your car and contents insurances look high, make sure you shop around and use quidco when they are due for renewal.

To make sure that your money is going where you think, why not start to keep a spending diary, it will help to keep tabs on the food spending as well as every day bits and bobs that crop up.

moneymaker2

Hi Whatatwit,
The car insurance is high cause it's for 2 cars (and we need both cars)
The contents insurnace is high as we got broken into 3 times in 10 months and we lost all our no claims and only the company that we were with wanted to know us (prob cause they didn't pay up the 3rd time)

I have just signed upto Indiefield, does anyone have any opinions on them cause £100 to sit and discuss things for 1 1/2 hours seems a bit unreal.