DFSD's 'staying out of debt' diary

debtfreesomeday

Another £50 in the savings makes £1500 in there. :j

We've had a lovely family day out today, took a picnic and used clubcard vouchers to keep costs low. We're all tired now and will hopefully have an easy night. I was up early this morning, so completed all my current orders by 7.30am! I just need to wrap a d address them now, ready to send off.

debtfreesomeday

Savings now up to £1550.

debtfreesomeday

It's pay day today, so I've transferred £100 to our car/house maintenace pot as normal and put £350 into our savings, bringing it up to £1900. Will aim to get it to at least £2000 this month, so need to make another £100.
We're in a fortunate position to be able to add another £350 again next month, but then it will drop to £150 monthly.

debtfreesomeday

More sales overnight mean I'm able to get the savings put up to £2k already. :T A quarter of the way to our target! (Hold on car, last a while longer yet...).

debtfreesomeday

Sales have slowed down a little in the last few weeks, but my really busy time is towards Christmas, so I'm anticipating lots more work coming in from September onwards.

We had a win on the lottery over the weekend. 5 numbers. We were only 2 digits out on the sixth number! :mad::eek::mad: We will receive around £645, which we'll be splitting with my parents as we had a line each on the same ticket, so around £300 coming our way. Don't want to sound ungrateful, but I'm surprised it's so low for 5 numbers! We rarely buy a ticket to be honest, guess we will be buying them a bit more often in the future!

debtfreesomeday

I'm working full time in my 'actual' job this week, so there will be a few more pennies in the pot when I get paid for this overtime. We will have to pay more in nursery fees, but will be up a little, so it all helps I guess.

debtfreesomeday

Right, this is our new SOA (if I've done it correctly!).

NOTES: We pay our buildings insurance, car insurance and car tax annually in one lump sum, but save £100 a month towards this, hence why there's £25 a month each for these pots + household maintenance.

Mortgage & Rent - mortgage is rounded up to £400 a month, the other £200 'rent' is what we pay my parents for helping us to afford our house in the first place. I call it rent, it's not technically, but easier to put it this way for this SOA.

Childcare - we pay for nursery fees with childcare vouchers, already deducted by our employer, hence why our salaries are lower but childcare is already paid for before we see the cash!

Birthday/Christmas gifts & haircuts comes out of what we have left. We have tried saving these in pots. but it doesn't work for us, we have far too many pots to deal with then!

TV/Phone/Broadband is with Sky, at approx £36 a month. We had to pay to have our phone etc installed into a brand new house, but instead of paying lump sum, we get to pay £10 a month for a year for sky package, after which time we can cancel subscription. Cheaper than £160 lump sum!

Earnings from my business are not included here, any money made on that will be ploughed into car savings currently, then mortgage overpayments.

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 1
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 737.2
Partners monthly income after tax....... 1000
Benefits................................ 81.2
Other income............................ 200
Total monthly income.................... 2018.4

Monthly Expense Details
Mortgage................................ 400
Secured/HP loan repayments.............. 0
Rent.................................... 200
Management charge (leasehold property).. 0
Council tax............................. 188
Electricity............................. 35
Gas..................................... 35
Oil..................................... 0
Water rates............................. 30
Telephone (land line)................... 16.79
Mobile phone............................ 20
TV Licence.............................. 12.12
Satellite/Cable TV...................... 10
Internet Services....................... 10
Groceries etc. ......................... 300
Clothing................................ 5
Petrol/diesel........................... 250
Road tax................................ 25
Car Insurance........................... 25
Car maintenance (including MOT)......... 25
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 12.5
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 25
Car Savings............................. 150
Total monthly expenses.................. 1774.41


Assets
Cash.................................... 2000
House value (Gross)..................... 209999
Shares and bonds........................ 0
Car(s).................................. 3500
Other assets............................ 0
Total Assets............................ 215499


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 65000....(400)......3.2
Total secured & HP debts...... 65000.....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-


Monthly Budget Summary
Total monthly income.................... 2,018.4
Expenses (including HP & secured debts). 1,774.41
Available for debt repayments........... 243.99
Monthly UNsecured debt repayments....... 0
Amount left after debt repayments....... 243.99

Personal Balance Sheet Summary
Total assets (things you own)........... 215,499
Total HP & Secured debt................. -65,000
Total Unsecured debt.................... -0
Net Assets.............................. 150,499

Created using the SOA calculator at www.stoozing.com.
Reproduced on Moneysavingexpert with permission, using Firefox browser.

debtfreesomeday

Right, present SOA up for all to see now, any comments welcome, just please read notes first as this may explain a few '0' columns!

Groceries, I always strive to reduce this, but at the moment, £300 is as best I can do. Will try to reduce if possible.

debtfreesomeday

Just realised, I forgot to add Ds's savings to the SOA, which we put £25 a month into, so technically, £218.99 left for 'everything else.'

debtfreesomeday

After saying things are slowly down, I had 3 more orders in this afternoon, making around £90. also got paid for another order I made last week, which brought in £19.50.
Have set to and completed the 'making' tonight already, now just need to wrap and pack them.