Fed up of being the family's Money Muppet

IWillBeFree

Hey False Economist


Welcome back and I hope you find the help and support you need in your journey this time around. Congratulations on becoming a home owner and fulfilling that dream of yours. Glad all is settling well for you and your family.


I can relate to the recurring depression and the spending to make you feel better. I have struggled with my sad/anxious moods and have now realised that there are several things I can do to help myself, such as have enough rest and not allow myself to wear myself out socially or professionally.


I have been thinking about what brought me here a lot and can honestly say, since the 23rd June, I have had one shopping splash out for a dress for £99 which I am simply not in a position to buy and enjoy just now. So, I took it home, had my little cry about how stupid I have been as I NEEDED that dress to make me irresistible and then I took it back, as my head is in a better place overall. My need to be debt free is greater than splashes of money in shops.


I am sharing this as sometimes I find it helps to know I am not the only one with those challenges.


You will get there, just stay focused on your end goal and remember it is not a linear process.


IWBF x

FalseEconomist

Thank you IWBF. It does help to hear others' stories. Earlier on in my thread (2 years earlier to be precise) I talked about a pair of shoes I 'had to have!'. I still have them safe and sound. I have worn them precisely once. They sit in the cupboard a testament to my False Economising!:D

IWillBeFree

Oh I have a few of those 'must haves' that got worn once or twice then stored for eternity!


Actually, fewer of them now as I have sold many at carboot sales and other ways. I learnt a huge lesson when I sold a bag I had bought for over £100 and used once, for £2. I remember that when I am out shopping now and tend to ask myself 'am I just buying stuff to sell at a boot sale down the line?' :D


We are both learning x

FalseEconomist

Well. My mobile phone has been broken for a couple of months and I've been using an old cracked but still working iphone. That finally gave up the ghost and so in a bid to be MSE I asked my company to send me out another sim to use in another phone someone had given us. However this phone is about 5 years old and I cannot get it to agree to anything! It won't make calls or send texes or allow me to log into play store or download apps. So reluctantly I decided I'd better get my original phone (all-singing-all-dancing) fixed. Still got ten months of contract left. Two quotes for 90 pounds later and I was feeling more than a little disheartened. Then I remembered I have phone insurance through my bank. doh! Would have been useful to remember that 2 months ago. It's still costing me £50 excess to get fixed (didn't expect to have to use emergency fund I'd started QUITE so quickly) but when it is fixed I will take extra special care of it and live for the moment that my contract ends and I can get a £10 a month sim from someone. AS GOD IS MY WITNESS I WILL NEVER GET A 24 MONTH CONTRACT AGAIN!!!

I do need a phone though. Those people who chip in singing the praises of their 40 year old Nokia 3310 are all well and good but obviously not expected to respond to work emails at a moment's notice like I am. Also tend to whatsapp my friends/family rather than calling them which is free. So.

Have been feeling under the weather today. Was briefly inspired by another poster on here to get on with some ebaying, but got to the pile of clothes and just thought 'bleurghhh'. Hoping to have more energy tomorrow.

FalseEconomist

Lol, updated noddle report this morning. I am now 4/5 up from 3/5.

Those things really are meaningless aren't they?!?

(still feeling pleased about it, I'll take meaningless positive affirmation wherever I can!!)

FalseEconomist

also realised some money I owed totalled more than I thought. I have the money but it clears out the emergency fund and the car fund I started this month. Hmmm. Can't wait to start October when I have budgeted properly and can track every penny!

FalseEconomist

aaaargh. just wrote a whole long post and have lost it. humph

FalseEconomist

[tt]Statement of Affairs and Personal Balance Sheet

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

Monthly Income Details
Monthly income after tax................ 800
Partners monthly income after tax....... 2400
Benefits................................ 137
Other income............................ 0
Total monthly income.................... 3337

Monthly Expense Details
Mortgage................................ 864
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 124
Electricity............................. 50
Gas..................................... 50
Oil..................................... 0
Water rates............................. 45
Telephone (land line)................... 0
Mobile phone............................ 75
TV Licence.............................. 12
Satellite/Cable TV...................... 0
Internet Services....................... 55
Groceries etc. ......................... 250
Clothing................................ 40
Petrol/diesel........................... 200
Road tax................................ 13
Car Insurance........................... 22
Car maintenance (including MOT)......... 30
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 50
Other child related expenses............ 40
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 20
Buildings insurance..................... 33
Contents insurance...................... 0
Life assurance ......................... 57
Other insurance......................... 0
Presents (birthday, christmas etc)...... 40
Haircuts................................ 20
Entertainment........................... 0
Holiday................................. 50
Emergency fund.......................... 20
Total monthly expenses.................. 2160


Assets
Cash.................................... 0
House value (Gross)..................... 180000
Shares and bonds........................ 0
Car(s).................................. 500
Other assets............................ 0
Total Assets............................ 180500


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 156700...(864)......5.1
Total secured & HP debts...... 156700....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Sofa...........................1363......62........0
Barclaycard....................1834.2....50........0
premierman.....................220.......30........40.82
mum............................12825.....225.......5
HSBC loan......................23500.....339.7.....15.9
Lloyds loan.....................486.........53.00.....??
Total unsecured debts..........39742.2...706.7.....-


Monthly Budget Summary
Total monthly income.................... 3,337
Expenses (including HP & secured debts). 2,160
Available for debt repayments........... 1,177
Monthly UNsecured debt repayments....... 706.7
Amount left after debt repayments....... 413.3

Personal Balance Sheet Summary
Total assets (things you own)........... 180,500
Total HP & Secured debt................. -156,700
Total Unsecured debt.................... -39,742.2
Net Assets.............................. -15,942.2

[/tt]

FalseEconomist

OOOh, a shiny SOA for me and all the other MSE's to gawp at.

It reckons I've got over £400 left to play with.

I haven't! need to stop buying crap on amazon, overshopping in local shop, and most of all.....getting overdraft fees!!

I get paid today, had the £200 odd quid well earmarked for various fees and shopping, and low and behold £100 disappeared into bank fees and overdraft charges! I only have an overdraft of £350, that's worse rates than Payday loan lenders!!
So, I am thinking...... bear with me.... I think hubby has a couple of 0% cash transfer offers. maybe transfer the £300 needed to a card at 0%. set up a direct debit ( have found this to be crucial in our fight to beat cc debt) and close the overdraft facility with the bank.

We are always up to the limit with it and incur fees every time we dip over even by a few pence, and when card payments etc go through late that can happen really easily.

Basically I find it impossible to pay back an overdraft just by trying to 'leave' some money in the account at the end of the month (or by the eighth of the month if I'm honest).

big changes have happened for us. My husband has a new job. slightly better pay, MUCH better hours and dum dum dum!!! a company car. So one of our cars is to be scrapped and we are now only responsible for one set of tax, insurance, maintenance etc (well, from June really as that is when the insurance on our existing car ends). That combined with a fuel card for that car means our outgoings really should be improved.

Up til now we were spending £48 a month on car tax for it! (thought it was a bargain when we bought it, and it was a good, low mileage car but seriously £500 a year tax?!?) so that's money straight back in the bank.

What else.... Think we're paying too much for our landline/internet so contacted them and they've put us on a better rate, will now be £32.50 a month for all landline, mobile calls and unlimited internet. This is needed, and as we are in a poor mobile reception area we make a surprising amount of calls on the landline, so nice to have these all included now. should be no nasty bill surprises.

Some figures I've really just hazarded though, or put down as 'ideal' figures. DH and I spend far too much on takeaways and drinks out. These next few months will be monitoring this closely.

FalseEconomist

Mobile phones are high. My contract ends in June. I will be sim only from then on. My twonk of a husband got another 24 month contract last March. What is it with men feeling they have to have the latest gadgets?!?

So hopefully from June I'll be spending about £10 a month rather than £35.