DC's Debt Diary

dcwhole

Hi People,

All these diaries have inspired me so much that I decided to start my own in the hope that it would help other people. Our light bulb moment came a few weeks ago when we realised that if we carried one at our current rate we would be over our overdraft within a couple of months, it could not continue!

So me and the OH sat down and worked our our books, it was like pulling teeth _pale_ but it was a means to an ends. We started going through it all and cutting out the things that we didn't need and after a lot of stress and disagreements (most between the OH and me, which she always seemed to win) we got them down to below. It look like this :-

My salary - £1200.00
Partners salary - £1620.34
Benefits - £138

Total - £2958.34

Monthly Outgoings:

Mortgage/Rent - £702 (Overpaying £50 a month)
Council Tax - £177
Gas/Elec - £118
TV License - £12.12
Sky £87.31
Phone - £21
Food - £400
Car Insurance - £33.64
Petrol - £150
Life Insurance - £53.86 (Joint)
House Insurance - £43.81
Water - £27.58
Childrens Savings - £40
Bits and Bobs - £27.32

Total: £1893.64

Now it comes to the fun Part:-

Mortgage £150,000
Credit Card £ 2050 (Monthly Payments £50 on 0% interest)
Furniture Loan £386.35 (Monthly Payments £36.68 on 0%)
Car Loan £9517 (Monthly Payments £243.92 on 6.5%)
Overdraft £4100

We want to move house but there is no way that we can even think about it until we get into the MSE way of thinking.

So there is it all, all laid bare. I suppose admitting the problem is half of battle won. But my goodness it is scary when you write it all down.:eek:

dcwhole

A little bit about ourselves now. There are 4 of us - me (35), OH (32), and 2 (6 & 3) young children. We live in a 4 bed house, but are wanting to move in the near future. I get paid commission so my wages can vary from one month to the next but it is always a minimum of £1200. My wife is a nurse and again her wages differ depending on unsociable hours.

dcwhole

Have just cancelled Sky sports, Movies and HD. So have reduced the sky bill to £45 a month. Every little helps.