I don't need another skinny Latte

Skinnylatte

According to the demotivator tool in the last 5 years I've spent £1750 on skinny lattes, isn't that ridiculous? Thats doesn't include the odd muffin, panini and rocky road slice either.

I had my LBM on 2nd June 2013, thinking that I probably owed the best part of £12000, when I totalled it up I actually owed £21595 :eek:
...and what do I have to show for it? Absolutely nothing I've simply spent most of my life living outwith my means. I blame the TSB when they gave me my first credit card when I was still 18, didn't even have a job!!

No, there's no-one to blame but my self. I don't know why we do this, but probably linked to a pretty grotty childhood, forever trying to proove I was worth loving. The result of that is a successful career, a serious of unsuccessful relationships and financial ineptitude.


If I lived on the bread line, scraping together a living it could be justified maybe, but I don't I earn over £45k a year.

I've read a few diaries on her like this, forty something, single parent with a good well paid career and a shed load of debt. Maybe we should start a club!
I've started this diary to stay motivated, I had a brilliant June, but things have slipped a little lately and I need to stay on track, this is going to be a long haul on my own. On the plus side since my LBM I've incurred no debt, I shifted a tax bill to my paye, ebayed, facebooked, scrimped and saved and reduced my debt to £16216, paid off £5379 - 25% :T

Now it get's tougher....

Indebted2U

25% paid already that's a brilliant start :T Good luck with the next 75% :beer:

Fliparoo

Good luck with your journey!
Looks like you've made a great start on clearing the debt

Fliparoo

P.S. I much prefer a Mocha

Eyes_wide_open

Wow, well done, fantastic start xx

Skinnylatte

Thank you Fliparoo and Eyes whide open. Indebted2U I've been following your diary, which inspired me to start mine too, it helps with the motivation.

Here's my SOA, feel free to be brutal, I'm ready for it now!

Statement of Affairs and Personal Balance Sheet

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

Monthly Income Details
Monthly income after tax................ 2646
Partners monthly income after tax....... 0
Benefits................................ 81.2
Other income............................ 0
Total monthly income.................... 2727.2

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 650
Management charge (leasehold property).. 0
Council tax............................. 130
Electricity............................. 40
Gas..................................... 50
Oil..................................... 0
Water rates............................. 65 Over 8 months
Telephone (land line)................... 65 this includes internet and Sky, in a contract until December
Mobile phone............................ 0
TV Licence.............................. 12.12
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 155 average over last 6 months
Clothing................................ 60
Petrol/diesel........................... 280 long commute!
Road tax................................ 10
Car Insurance........................... 18
Car maintenance (including MOT)......... 70
Car parking............................. 10
Other travel............................ 10
Childcare/nursery....................... 0
Other child related expenses............ 70 Pocket money to son, I pay for what he needs, he pays for what he wants including clothes
Medical (prescriptions, dentist etc).... 5
Pet insurance/vet bills................. 0
Buildings insurance..................... 27 - for a house I own and let out, but haven't included it here as it just breaks even
Contents insurance...................... 6
Life assurance ......................... 18
Other insurance......................... 30 Baby bonds for kids
Presents (birthday, christmas etc)...... 80
Haircuts................................ 15
Entertainment........................... 220 needs review!!
Holiday................................. 85
Emergency fund.......................... 50
Total monthly expenses.................. 2231.12


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 1800
Other assets............................ 0
Total Assets............................ 1800

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Barclay Visa...................1297......26........0
Barclay Master.................4075......82........19.9
MBNA...........................2300......46........0
Tax Credits....................2000......167.......0
Over Draft.....................1900......0.........0
Halifax........................1691......34........0
MBNA...........................2951......60........14.9
Total unsecured debts..........16214.....415.......-


Monthly Budget Summary
Total monthly income.................... 2,727.2
Expenses (including HP & secured debts). 2,231.12
Available for debt repayments........... 496.08
Monthly UNsecured debt repayments....... 415
Amount left after debt repayments....... 81.08

Personal Balance Sheet Summary
Total assets (things you own)........... 1,800
Total HP & Secured debt................. -0
Total Unsecured debt.................... -16,214
Net Assets.............................. -14,414

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

Muser1

Fab job on the 25% paid off. I'm no expert but your soa sounds good to me. Your food is very low so you must do some good meal planning. Will read with interest. Lots of luck. xxx

Skinnylatte

We're holiday Thursday, the holiday was booked before my LBM so the theory now is to spend as little as possible while on it. We're going to a festival, just my daughter, not my son, which is good news as he eats LOADS and she eats like a sparrow!!
Also DD convinced me to take her shopping for clothes that she just has to have for the festival, I'm such a push over when it comes to the kids!
I've got £450 to see me to pay day on 27th, which is plenty, what ever I have left over goes on paying off CC.

Debt busting things to do this week
[STRIKE]1. Buy food and drink for festival so we're not buying it there[/STRIKE]
[STRIKE]2. Take daughter to pick up wages owed so she can spend her money not mine at festival![/STRIKE]
[STRIKE]3. Phone up tax credits and arrange repayment plan [/STRIKE]£200 per month :eek:
[STRIKE]4. Phone up cancel tax to re-insate the payment plan, after I tried to change the date it came out and they managed to cancel it instead [/STRIKE]
[STRIKE]5. Not listing on ebay this week as will wait til after the school holidays[/STRIKE] That was stupid thing to put on a to do list!
[STRIKE]6. Not buy any more groceries until we get back from holiday[/STRIKE]
[STRIKE]7. Play my piano so I can justify not selling it[/STRIKE]
[STRIKE]8. Upload 4 videos to Youtube channel[/STRIKE]
9. Update 4 pages on website - Only managed 1 page it's so boring :mad:

That's all for now

Skinnylatte

Well shopping day with DD today was much less painfull than anctipcated. Ex gave her £100, and she just about stuck to budget.
£1.39 coffee, £14.20 3 course lunch with coffe using pizza express BP vouchers, £5.25 clothes £51.69 filling up car parking FREE. Total: £72.53 and I have enough fuel until the end of the month
so £377.47 left in the pot :j

Writing about my dept recovery definately focuses the mind, I don't care if no-one reads it :rotfl:

Skinnylatte

A bit of a trying day today. I was trying to help DD with a college application, but it ended up messy. She has an emotional disorder which makes life very diffficult at times, she has missed 4 years of school because of it and has been under CAMHS since the age of 9 so it's no 'phase', today was one of those times. It always leaves me feeling very raw, and although I rarely drink at home, (and that hasn't always been the case) I'm now the proud owner of a large GnT.

So today I spent £81.97. £46.97 of that was on food and drink for the festival, and I still have some more to get in the morning. £10 on haircut for DS and £24 on school uniform. That's leaving £295.50 til the end of the month. Still looking good.

I also discovered that I owe tax credits more than £400 than I thought, so the debt is going up! I have resnowballed, and now have a debt free day of December 2016, that's assuming that I don't get a bonus or payrise until then, which is unlikely (I hope!) So I will see how much I can knock off.

I'm taking my debts in mangeable chunks, the Visa first at £1297, I've got until Jan 1st 2014 to pay that off when the rate changes from 0% to 24.9% - Game on :beer:

scottishspendaholic

Hey,

I'm subscribing, it sounds like you're off to a brilliant start - well done!

Do you have a pot of money in case things go wrong with the house you rent out? Do you have any periods where it may be empty for any length of time? Do you receive any maintenance? Your SOA only shows 2 people living in your household - does your daughter live elsewhere?

I've got a (sort of - read my diary for more info!) debt free date if June 2015. I bet with a bit of luck/bonus/eBay selling/pay rise, you could do it then too?! Do you have plans for when you are DF?

Welcome!

Xxx

Skinnylatte

Hi :j

I rent my house to my ex husband, (long story!) he pays a low rent which just covers the mortage, but I know it's not going to be empty and he does all the diy, my daughter has been living with her dad since the last 3 years, he copes better than I do, but I still spend time with her most days. I don't receive maintenance, as we share the costs of raising the kids, and I got the marital home, which I then mortgaged to the hilt with nothing to show for it (and now rent to him - could life get any more complicated!!!)
To be honest, I could do with my house back, but while he is coping with my daughter and she needs a roof over her head then he's welcome to stay there.
My daughter is 16 and my son who lives with me is 14.
I will join you in your journey scottish to be debt free by June 2015. I think I will celebrate by trying to find a half decent bloke to share my new found wealth :rotfl: