WOW I must be serious this time.....I have a diary

mum2one

Trixxibell wrote: »

Think I've finally managed to do my SOA, I should be asleep before my shift tonight but I wanted to get this done while I'm still highly motivated.

You will notice rent, electric and gas aren't on my SOA because my OH pays these as well as a large amount of the food shopping.

If anyone has any advice on where I'm wasting money please let me know. I started my new job end of October so haven't been on this wage for long and looking forward to using it to demolish my debt.

Figures are from January 1st


Monthly Income Details
Monthly income after tax................ 1600
Other income............................ 396
Total monthly income.................... 1996

Monthly Expense Details
Council tax............................. 135
Water rates............................. 37
Telephone (land line)................... 0
Mobile phone............................ 40 thats high, could you look at downgrading your package - then consider sim only when out of contract
TV Licence.............................. 12.12
Satellite/Cable TV...................... 0
Internet Services....................... 56\ includes tv and phone
Groceries etc. ......................... 100
Clothing................................ 20
Petrol/diesel........................... 150
Road tax................................. 0
Car Insurance........................... 144 [COLOR="rgb(65, 105, 225)"]- :eek:have you shopped around at renewal, cash back sites??[/COLOR]
Car maintenance (including MOT)......... 0 - [COLOR="rgb(65, 105, 225)"]you should really have something in here - £30[/COLOR]
Car parking............................. 0 taking out of wages prior to income figure.
Other travel............................ 0
Childcare/nursery....................... 150
Other child related expenses............ 168 kids bus passes and lunches
Medical (prescriptions, dentist etc).... 23.50
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 15.15 - [COLOR="rgb(65, 105, 225)"]try shopping around - I know its all area dependant, but we pay £60 a year[/COLOR]
Life assurance ......................... 6.50
Other insurance......................... 0
Presents (birthday, christmas etc)...... 60 this was going on cc and cat before. [COLOR="rgb(65, 105, 225)"]thats positive that your saving it now, - look at bargain hunting, sales etc [/COLOR]
Haircuts................................ 5
Entertainment........................... 0 cancelled netflix and lovefilm use it free through bank account.
Holiday................................. 50 estimate again used to put on cc in the summer. Usually go camping
Emergency fund.......................... 0 - [COLOR="rgb(65, 105, 225)"]should really have something in here - even if its £30[/COLOR]
Total monthly expenses.................. 1142.27

\
Assets[/b]\
Cash.................................... 1,600 deposit for car.
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0 my car was stolen insurance is settling with finance at the moment hoping to reapply once sorted. Using OHs car not very fuel efficient.
Other assets............................ 0
Total Assets............................ 1600

No Secured nor Hire Purchase Debts[/b]\
\
Unsecured Debts\
Description....................Debt......Monthly...APR\
Credit card....................2717.15...200.......not sure how much the apr is -[COLOR="rgb(65, 105, 225)"][COLOR="rgb(65, 105, 225)"]good as it looks like your chucking more than the minimum amount[/COLOR][/COLOR]
Catalogue .....................1092.08...200....... If there is no apr this be cleared in 10 months, - help a lot
Bursary overpayment............1110.21...124.......[COLOR="rgb(65, 105, 225)"][COLOR="rgb(65, 105, 225)"]9 months that be gone[/COLOR][/COLOR]
Total unsecured debts..........4919.44...524.......

Monthly Budget Summary
Total monthly income.................... 1,996
Expenses (including HP & secured debts). 1,142.27
Available for debt repayments........... 853.73
Monthly UNsecured debt repayments....... 524
Amount left after debt repayments....... 329.73

Personal Balance Sheet Summary\
Total assets (things you own)........... 0\
Total HP & Secured debt................. -0\
Total Unsecured debt.................... -4,919.44\
Net Assets.............................. -4,919.44\

Reproduced on Moneysavingexpert with permission, using other browser.

Once again constructive comments/questions welcome be gentle lol:o

Thats good that you have a surplus every month. I've popped a few thoughts in, going by your debts the fact that the over payment and Catalogue will be finished this year.

Hope you get the car sorted out ok.

I would say to anyone start a diary of expenditure whether its £100, or £1 going out it will give u an idea of where the money is going, i've only done mine since start of the year, but my downfall is £1 shops, as I think right I only need to get x.y.z - that soon turns into a-z and a big chunk. xx

Trixxibell

Hi all,

Fourth night shift in a row tonight! Two of these were extra so hopefully more money to throw at my debt at the end of the month!

Thanks for the advice mum2one. Insurance is high for car it's a joint one for my car that was stolen and my husbands car for two of us fully comp. It's suspended at the moment and the extra we've been paying will be taken off my policy when I get my new car sorted.

I've got no car costs at the moment because I'm using OH car and he pays for everything I'm just putting petrol in it.

I just found out I'm entitled to NHS discount from Vodafone on contract so will be phoning them tomorrow to get a cheaper deal.

Going to phone the insurance company now see if they have paid off car finance yet it's only been two months!

Still taking lunch into work and not spent any money at work o on drive throughs :-)

Clutter free living continues got two wash loads done today inbetween sleep. After tonight got 4 days off can catch up properly on domestic duties.

Trixxibell

Haven't updated in a few days... My motivation is still here although I do notice a big error in my SOA my income :doh: at the moment I'm not getting taxed as I only left uni towards the end of last year. My income will change quite dramatically once the tax starts being deducted.....

So new plan, car is on hold until I have cleared my existing debt just so I'm not putting myself in my old borrowing cycle. If I wait until tax starts coming out prior to getting my car I can have a realistic picture of how much I can afford per month. It's means continuing to drive my OH's petrol guzzling car but it's getting me from a2b. It's a bit awkward if he needs the car for the kids etc and I'm at work but we seem to be managing (just).

Just updated my signature with payments made this week not as much as I wanted paid 1% to cc and lw I need to fix my daughters laptop this week.

Because I've done so many shifts in a row house is in much need of a mummy clean. I'm off to corner shop to buy non brand multi purpose pine disinfectant. £1.20 for a good size bottle cleans everything saves a fortune on buying multiple cleaning products.:D:D

Trixxibell

Think I'm becoming obsessed with this website I love it.:j

I think the biggest change I've done so far is reduce my outgoings and to help (today was my day off work) I sat down and read through four months worth of credit card statements to be clear on what got me in this situation the results.....

Fast food drive throughs, a certain chicken restaurant multiple visits per month, £1 shops, 99p shops and clothes shopping for when the kids needs things replacing. There was two big items ones a trip to Barcelona I brought this to say thank you to my OH for his support when I was studying, the other big spend was my grad ball dress. There was obvious clumps of spending around birthdays and Xmas, I have decided I'm way to generous and can't believe the amount I spend on gifts I obviously can't afford.

New plan: cc is going in the freezer tomorrow.

I will have a sealed pot for birthdays and Xmas.

I will also have a kids pot for their clothes and shoes etc. I only buy supermarket brand clothes or primarni and get bargain shoes from shoe z@ne etc, so it's not that I spend a lot on them more that I don't budget for it properly. It's on my SOA but if I didn't buy any clothes that month then the money went elsewhere.

I have joined a few threads to help my journey including the 1% challenge, bring lunch to work and payment a week. I love being interactive with the site wish I joined sooner.

My catalogue increased my credit limit today and I wasn't even tempted to browse, the catalogue went to recycling the first day it came and the only time I'm logging on is to make a payment. :T

Not at work but in night shift mode so wide awake.

Found a present idea for OH, that will be cheap to make and I can get the kids involved, his a drummer and has been in a few bands over the years going to make a scrap book he can keep with all the bands his been in. With flyers and photos in. I usually spend £300 plus on his birthday so it will be a challenge will keep my diary updated. It's also my sisters a few days later a gift voucher should do the trick.

Until tomorrow xx

Antwerpen

Hello. Looks like you're doing really well.

I'm doing the crazy Clothes challenge, maybe you could join that? Also look on Facebook and eBay. You might grab some bargains .

mum2one

I do Santas Challenge - it helps get organised throughout the year - not just xmas, but bday, sorting things in house and generally being very frugal.

I've managed to get all birthday items in sale
Budget - £245
Total spend - £104
Presents worth - £333
No of people - 14 people plus 5 spare presents for DD for school friends.

It doesn't include family, - but they aren't spared the budget treatment either!!

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I should hold my hands up and say £1 shops are my vice - go in thinking need a couple of bits but then it seems a bargain and wham bam theres £30 in the trolley. xx

Trixxibell

Thanks for replying both, I've got an Ing account sitting somewhere I'm setting up an s/o tomorrow for presents into it. Most my presents tend to be vouchers or gift experience days just got to learn not to be so lavish from now on.:rotfl: years ago I did Park but I was using them and still spending on cc :eek:

Had an awesome day today it was so productive, I got to deep clean my office, which I'm giving to my daughter to use for her sewing now I'm no longer studying.

I got a lot of polishing done and vacuumed every spiderweb or dust webs going, OH was also off today and we got the utility room deep cleaned and the washing machine washed :-)

Then I did the jobs I've been putting off like filing and putting photos in frames etc and putting them up.

Played music from 9am until 6pm neighbours at work all day so didn't bother anyone generally had a nice day dancing and cleaning Think knowing I'm on a debt free path is having a positive impact everywhere.

Got loads of washing done just about to go and start the mammoth task of ironing. Then I'm going to start my OH's present from scratch this is so out my comfort zone but I'm looking forward to it :eek::)

Trixxibell

Well the present is getting there very sloooowly....I'm off tomorrow and OH will be at work so should make better progress.

Made usual monthly payment to littlewoods, signature updated :-)

I do need a few things from 99p shop but as it's my weakness like you mum2one I'm going to do a list and bring the exact money. Bonus of the 99p shop I know how much it's going to be :rotfl: and my local 99p shop is next to a pound shop and they keep undercutting each other. The pound shop is now 99p and the 99p shop is 97p :money:
Great for me....

Didn't call insurance company today to see if they had paid the finance company I just needed the day off from being past from pillar to post will call them tomorrow. I will also chase up an ongoing ppi claim and must remember to phone vodafone and get a cheaper deal.

And my wonderful daughter has let me know she needs new dance shoes, two pairs actually! I don't pay for the dance lessons a generous family member does but I do cover the uniform costs and shoes. Mmmmm this should have been included in budget somewhere (hindsight -still learning).

Oh well I best try and force myself to sleep busy day tomorrow and I'm working 12 hr shifts all weekend.

mum2one

good luck with the 99p shop - see how many items slip into the basket??

I have to brave my £1 shop need balls of back wool... (go in with £5) x

The delights of dance lessons.... we've had that when DD did ballet and tap and of course the uniform could only be ordered through the class...

Lucky as when we moved classes we just had to get tap shoes as the lovely teacher gave DD a free uniform, now she wants to do horse riding or karate.... xx

optimistic-mummy

hi. well done on the changes you have made so far, small changes and tiny steps can make a big difference. good luck with the rest of your journey will be following with interest ...

good luck !

99p and £1 shops are my downfall when i do on the very rare occasion go into town