Budgeting Service?

Archi_Bald

AngelPie78 wrote: »

Ok but, like I've said, it's NOT about my debt. I can't even THINK about paying off my debts until I can manage at least ONE month of paying ALL my essential bills, like rent, water, fuel, food etc...

Becoming debt-free is not an overnight occurrence. It is a journey where you learn to manage your money, and yourself.

The debt free wannabe board is the best place on MSE to seek help for that journey.

But be very clear with yourself: you have to be able to manage things yourself rather than rely on anyone else.

AngelPie78

Thanks for that. I realise what you're saying and I recognise that the problem is the spontaneous spending and not tracking what I do spend.

BUT, I also think that the fact I get money all over the place is not helping. SO I will make the changes with having one account, as suggested by Kite.

However, the last problem remains that for the next three months my income is less than half of my outgoings. So how do I manage that without borrowing and spending my loan before I even get it??

getmore4less

AngelPie78 wrote: »

Would you suggest that I just average everything out? Just cause all my money is so sporadic and not monthly at all?

You have to separate income from outgoings, that's why a yearly total is what really matters,

Cash flow is a separate issue which is trying to make the timings work but the real issue is planed outgoing are less than the incoming longer term.

getmore4less

Why are your outgoings so high why is the income

Post the SOA.

Another thing you could do is do the 2013 real spends SOA.

This is the SOA that covers all the income and outgoings for 2013, it will identify where you are overspending, and need to start cutting back


I think you would benefit from the debtfreewanabee baoard. and starting a diary

Start a SOA and spending diary thread that you update regularly, start at least daily and when things start to settle down you can go to weekly.

This is a sort of self help with people acting as your conscience.


Variable timing of income is not an issue, its the totals.

if you have trouble visualizing this one way to deal with it is to have one account where all income goes, and you pay yourself once into your spends account from this all outgoings go you work out what the amount is by having an accurate SOA/budget/PLAN

AngelPie78

Ok, no-one is listening to me. I get it, I need to plan etc etc.

So can ANYONE explain to me how I am going to pay my rent on 1st March of £925 when I have £760 coming in between now and then and am overdrawn by £80 in my current account, with three kids to feed???

THIS is my problem!!!

I can make all the plans I want for when I get the bulk of my money, but that doesn't help me NOW! This is reason why I get into extreme problems. I then don't pay my bills so get caught in this cycle. I have a very understanding landlord so I can just put him off until the end of April. Then I'll have to pay March, April, May, June, July, August rent of £925 x 6 = £5,550 when I am getting £3,500!

What am I going to do?! It's hopeless!!

AngelPie78

Here is the SOA:

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 1
Number of children in household......... 3
Number of cars owned.................... 1

Monthly Income Details
Average monthly income after tax....... 2465.76
comprised:
Student loans: £11,519.12 paid in 3 payments Sep/Jan/Apr
Tax Credits: weekly £165
Child Benefit: four weekly £130
Housing benefit: fortnightly £300

Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2465.76

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 925
Management charge (leasehold property).. 0
Council tax............................. 0 (am a student)
Electricity............................. 100
Gas..................................... 100
Oil..................................... 0
Water rates............................. 76.88
Telephone (land line)................... 67.88
Mobile phone............................ 40
TV Licence.............................. 12.55
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 250
Clothing................................ 40
Petrol/diesel........................... 130
Road tax................................ 18.75
Car Insurance........................... 80
Car maintenance (including MOT)......... 30
Car parking............................. 13.75
Other travel............................ 0
Childcare/nursery....................... 55
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 20
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 50
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 75
Emergency fund.......................... 0
Debt 2.................................. 10
Debt 1.................................. 10
Simply Be............................... 10
Very.................................... 25
Dog food................................ 25
Footall club............................ 7.5
Bus Pass................................ 66
Spotify................................. 4.99
Total monthly expenses.................. 2257.3


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 400
Other assets............................ 0
Total Assets............................ 400

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Council Tax....................175.......10........0
Childminder....................1080......10........0
Friend.........................1000......10........0
Scottish Power.................1000......0.........0
Uni............................390.......0.........0
T-mobile.......................416.97....0.........0
Three..........................889.51....0.........0
Shakespeares...................3490.42...0.........0
Orange.........................1475.5....0.........0
HMRC (Tax Credits ove..........13337.7...0.........0
HMRC (NI)......................175.05....0.........0
HMRC (Self Assessment..........495.32....0.........0
EDF............................1476.5....0.........0
Scotcall.......................1631.61...0.........0
Apex 2.........................3773.76...0.........0
Apex 1.........................1005.8....0.........0
BT.............................460.96....0.........0
Housing Benefit Overp..........1072.85...0.........0
CARS...........................136.52....0.........0
Childminder....................760.8.....0.........0
Lowell.........................56.67.....0.........0
Moorcroft......................200.06....0.........0
Total unsecured debts..........34501.....30........-


Monthly Budget Summary
Total monthly income.................... 2,465.76
Expenses (including HP & secured debts). 2,262.3
Available for debt repayments........... 223.46
Monthly UNsecured debt repayments....... 30
Amount left after debt repayments....... 183.46

Personal Balance Sheet Summary
Total assets (things you own)........... 400
Total HP & Secured debt................. -0
Total Unsecured debt.................... -34,501
Net Assets.............................. -34,101

AngelPie78

As you can see, I have a lot of debt which I just ignore for most of the time. I just don't even talk to the companies I owe money to. I pay £10 to council tax to keep them off my back and pay my old childminder and another friend who I borrowed money from. That's it.

In one of my spending frenzies, I booked a holiday and paid for half of it. I've delayed it for two years (paying £100 each time in "admin fees") and can't change it anymore so I'm going away with my daughter in June. There's a balance of £900 that needs to be paid by 4th April (how???) or I lose the £900 I've already paid towards it. I might end up having to borrow this off my mum. God knows.

This is not an accurate representation of my actual spending. This is just what I would spend, IF I started with a clean slate on the day I get my loan (April 28th) I've not done that once in the two years I've been a student. My student finance took six months to sort out, so had to survive on £100 a week as my only income for that whole time, which didn't help. My student finance is still a mess and I should be getting more money in back pay but I have no idea when or how much (possibly £2000?) I also don't know what my income will be next year, so I can't estimate that (who can??) as it depends on what student finance give me and tax credits/housing benefit etc...

TIA xx

getmore4less

AngelPie78 wrote: »

Ok, no-one is listening to me. I get it, I need to plan etc etc.

So can ANYONE explain to me how I am going to pay my rent on 1st March of £925 when I have £760 coming in between now and then and am overdrawn by £80 in my current account, with three kids to feed???

THIS is my problem!!!

The problem is you spent the money you should have put aside for this, so until you start thinking long term you will NEVER fix this,

AngelPie78

ok fab. thanks for that. I'll give that message to my landlord when he wants my rent.

And the lecture really helps. Talk about kicking a person when they're down. This is the reason I only use this forum as my absolute, last resort.

People just enjoy other people's misery far too much.

AngelPie78

Right, I'll just not feed the kids or put any petrol in the car. We can spend an hour and a half walking to and from school every day and survive on water (can't even afford bread). At least then I can pay something towards my rent and I've PLANNED something!