We will come out the other side!

slg_sue

Following my post last week on the benefits board, I am beginning my journey to becoming debt free!!!

I have just completed by SOA and that is a very scary document indeed!!!

The positive news is that some of the non-important debts but the debts that are the most annoying (the payday loans) are all coming to an end and whilst the extra pennies would be of better use elsewhere, it is probably worth bearing with them.

Anyway here goes - My SOA


Number of adults inhousehold........... 2
Number of children in household......... 3
Number of cars owned.................... 1
Monthly Income Details
Monthly income after tax................ 1641
Partners monthly income after tax....... 1588
Benefits................................ 188
Other income............................ 0
Total monthly income.................... 3417



Monthly Expense Details[/b]
Mortgage................................ 450
Secured/HP loan repayments.............. 416
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 136
Electricity............................. 56
Gas..................................... 84
Oil..................................... 0
Water rates............................. 42
Telephone (land line)................... 15
Mobile phone............................ 70
TV Licence.............................. 13
Satellite/Cable TV...................... 83
Internet Services....................... 10

Credit Card repayments………………. 95

Catalogue repayments………………… 50

Groceries etc.......................... 400
Clothing................................ 40
Petrol/diesel........................... 100
Road tax................................ 38
Car Insurance........................... 52
Car maintenance (including MOT)......... 30
Car parking............................. 0
Other travel............................ 100
Childcare/nursery....................... 60
Other child related expenses............102
Medical (prescriptions, dentist etc).... 20
Pet insurance/vet bills................. 26
Buildings insurance..................... 10
Contents insurance...................... 10
Life assurance ......................... 19.5
Other insurance......................... 0
Presents (birthday, christmas etc)...... 50
Haircuts................................ 25
Entertainment........................... 20
Holiday................................. 0
Payday Loan repayments………………290

Family Loan repayments………………300

Emergencyfund.......................... 0
Total monthly expenses.................. 3157.50



Assets
Cash.................................... 0
House value (Gross)..................... 130000
Shares and bonds........................ 0
Car(s).................................. 1500
Other assets............................ 0
Total Assets............................ 131500

Secured & HP Debt
Description....................Debt......Monthly
Mortgage...................... 118000....450

Secured Loan…………………..4400 220
Hire Purchase (HP) debt ...... 3500.....196

Total secured & HP debts......125900



Unsecured Debts
Description....................Debt......Monthly
CC1............................1200......75
CC2............................200......15
Catalogue 1..................380......20

Catalogue 2..................254......30
PDL 1...........................109......109
PDL 2............................80......40

PDL 3………………………………..570……95

PDL 4…………………………………386…….45

Family Loan………………………1700……..300
Total unsecured debts..........5079



Monthly Budget Summary
Total monthly income.................... 3417
Expenses (including all debts). 3,157.5
Monthly Unsecured debt repayments....... 729
Personal Balance Sheet Summary
Total assets (things you own)........... 126500
Total HP & Secured debt................. -125900
Total Unsecured debt.................... -5079

NetAssets.............................. 521

slg_sue

Well I am having a NSD (no spend day) today and it is going well so far. Kids all off to school with yummy packed lunches, I have just had my toast at work which I brought in from home - well I brought in the bread and jam and made it in the kitchen. Lunch will be a homemade salad with some roast chicken from home and if I get peckish I can always rely on my cup of soups which I have had for ages on my desk!!!
My issue will be my OH when I get home, he smokes and I bet he will want some cigarettes which will cost £6 grrrr, it makes me mad but he doesnt actually spend anything else and doesnt drink so I feel a bit bad but not that bad!!!

slg_sue

Well just been looking around the site and potentially I can claim back £3000 in delayed flights!!!! How exciting is that!!! I have sent off the first letter to BA regarding a short trip OH and I took for my 30th a couple of years ago but need to speak to the family about the other as 15 of us were affected so that is 4 familys, 5 of the 15 are my brood and we were massively delayed when we took a once in a lifetime holiday to Florida for my dads retirement last year.
Knowing my luck it wont go anywhere but its nice to have a bit of hope even if its just for a short time x

slg_sue

Yesterday I made purchases of £19.03 in total. £10.03 was in Tesco and I actually only parted with £1.03 the rest was a voucher. £6 was to top up my gas meter and £3 was my daughters running club subs.

I was quite pleased with this and feel as if I am going in the right direction. Today I have spent £8 on electric and £0.70 on milk and have taken my lunch to work from home and left my purse to stop me being able to spend anything else!!!