My First Time Post (well 2nd)

jordan07

Monthly Incomings:

My salary - £550


Total - £550

Monthly Outgoings:
House keep-£50
Electric - £32
Sky £20
Food - £80
Car Insurance - £160:(
Petrol - £80
Family Loan- £100
Mobile Phone- £40
Social event(Pub,clubbing etc)- around £150:'(

Total: £702





Overdraft - £900 APR 13%

tealady

I assume from the fact there is no Council tax or water listed that you live at home? Is that correct. Your car insurance seems astronomical. Let me guess, young male driver? Can you shop around to get a better deal. If you are not working F/T hours can you work a few more?

jordan07

yh 18 year old male driver with a bit of a fast car habit!! dont live at home but got a cooshty deal with my mum in one of her flats!!

jordan07

work full tine 8-5 monday-friday as an aeronautical engineer apprentice, 2 years il be laughing money wise just dont want to get black listed before then!

tealady

Def the car. You can't afford it.

jordan07

but the cars only worth say £300 and i need it for work! reason i havnt got a smaller engined car is i cant affird to buy it! i also have another car which is a show peice that have spent silly money and time on before i had a full time job that i doint drive, gets trailored but its only worth about 5k and spent in excess of 30 on it! so not worth selling it

stokegal

jordan07 wrote: »

Monthly Incomings:

My salary - £550


Total - £550

Monthly Outgoings:
House keep-£50
Electric - £32 - Shop around, you willl probably get this cheaper
Sky £20 - can it
Food - £80 - for 1 person, head over to MoneySaving Old Style for tips of how to bring this down
Car Insurance - £160:( - you know what you have to do... downgrade your car...
Petrol - £80 - this would go down if you had a more econmical car
Family Loan- £100 - how much do you owe in total?
Mobile Phone- £40 - you could probably get a better deal on this now
Total: £552

Overdraft - £900 APR 13% - are you using this? How much are you paying back each month?

You won't get blacklisted if you don't spend over your means... 2 years of living without a flash car will be nothing compared when you can afford a nice house and a decent car - I wish I had never got into debt at 18 but hindsight is a wonderful thing

tealady

Its worth £300 and it costs you £2000 a year to insure? Am I missing something here?

jordan07

its a 1.9gti peugout 205, high insurance cheap car!

jordan07

i used all of the overdraft and am only paying the intersst at the mo.. owe about 3000 in family loans...sky is phone,internet and tv all in one, electric is on the key with british gas, phones a 18month contract:(

tealady

I think you missed the point. Scrap the car, get lifts or buy an old cheap banger just to last for a year or so.