Should i get a wonga loan

kindofagilr

Erm you've only got £60 in your debt repayments column xx

rogue999

Hi Summer, just reading your thread - haven't really got much more to add as already lots of great advice given, but with regards to moving schools and new uniforms, our school have a big box of second hand school sweaters that they sell for £1 each - might be worth checking if the school does anything like this.

All the best, you can do it!
xx

summer33

kindofagilr wrote: »

Erm you've only got £60 in your debt repayments column xx

Yes I know, but this SOA is just a reflection on if we clear the priorty debts, it shows as a houshold what we have left.

Therefore if I tackled the arrears on last years debts ( c/tax Water School trip debt ) we can throw as much as we can at the debts, to clear them, as at the moment money is slipping away, as we are just paying the min on debts, and not even making sure we pay the priority bills month in month out. This has to stop and will do from now on.

Thanks

summer33

someone mentioned doing surveys etc. i would be interested in starting this to get some extra income in,

Where do I start, what are the best for quick incomes...Any help apreciated

Thanks

marliepanda

summer33 wrote: »

someone mentioned doing surveys etc. i would be interested in starting this to get some extra income in,

Where do I start, what are the best for quick incomes...Any help apreciated

Thanks

Not necessarily 'quick' incomes but I currently use

Valued Opinions (got £20 Marks and Sparks vouchers so far this year, but you can also get Boots, Amazon, lots of things)

GlobalTestMarket - You have to wait until you hit 1000 points to redeem everything, but I have already got £30 this year and I'm close to another £30 You can also get paypal which is cash, rather than vouchers.

MySurvey - similar to above but you can cash out lower amounts, about £3 so you get it quicker, got £20 so far this year.

New Vista Live - This is stalling a lot at the moment, and you have to wait until you get to £50 to get a cheque, currently stuck on about £25!

PopulusLive - Same as above, currently on £11

kindofagilr

Ah I see I didn't realise you only paid £2 to Ruthbridge for example, I thought it was a mistype

I do shop and scan which gets me £80 amazon vouchers a year, always good for Christmas presents or nappies for my baby xx

FireWyrm

summer33 wrote: »

Yes I know, but this SOA is just a reflection on if we clear the priorty debts, it shows as a houshold what we have left.

Therefore if I tackled the arrears on last years debts ( c/tax Water School trip debt ) we can throw as much as we can at the debts, to clear them, as at the moment money is slipping away, as we are just paying the min on debts, and not even making sure we pay the priority bills month in month out. This has to stop and will do from now on.

Thanks

If you have to choose, make your payment in the following order :

1) Council Tax
2) Water
3) School trip.

Council tax can make your life unnecessarily complicated, water cant cut you off even if they wanted to and school trip can just....well, take a number and get in line.

Your SOA is looking much better though with a healthy amount left over. I really suggest you start thinking about piggy banking which is a method of budgetting which involves literally, putting money in pots for different purposes. Those pots can be virtual (e-savings accounts) or real (jam jars). LLoyds and Natwest both allow piggy banking with lots of sub-accounts but just make sure you dont bank with whomever holds your mortgage because of 'offsetting' where a bank can and sometimes does take money from one account to cover a debt on another.

I have never looked back since I separated my food and fuel into different accounts from the one that pays the bills. I now have a set budget, when it's gone it's gone. Any surplus is then sent to other accounts and so on. No more wastage.

FireWyrm

Oops...wrong thread.

patchwork_cat

summer33 wrote: »

[tt]Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 3
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 867
Partners monthly income after tax....... 1256
Benefits................................ 188.4
Other income............................ 0
Total monthly income.................... 2311.4

Monthly Expense Details
Mortgage................................ 487
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 119
Electricity............................. 80
Gas..................................... 80
Oil..................................... 0
Water rates............................. 44
Telephone (land line)................... 0
Mobile phone............................ 35
TV Licence.............................. 12.12
Satellite/Cable TV...................... 35.99
Internet Services....................... 0
Groceries etc. ......................... 280
Clothing................................ 0 - you really need an amount in here to put away every month
Petrol/diesel........................... 120
Road tax................................ 0- you have to pay this so put it in
Car Insurance........................... 0 - you have to pay this so put it in
Car maintenance (including MOT)......... 0- you will have this so put it in
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 420
Other child related expenses............ 32
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0 you need this
Contents insurance...................... 0 you need this
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0 these are inevitable so factor it in
Haircuts................................ 18
Entertainment........................... 25
Holiday................................. 0
Emergency fund.......................... 0
(Unnamed monthly expense)............... 0
Total monthly expenses.................. 1788.11


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


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 1223530..(487)......4.65
Total secured & HP debts...... 1223530...-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Ruthbridge.....................224.17....2.........0
Link Financial.................2339......2.........0
Barclaycard....................388.06....2.........0
Lowell.........................1749......2.........0
Wescott........................6779......5.........0
Capital One....................742.61....2.........0
Shoosmiths.....................1664......10........0
Wescot.........................976.97....25........0
Credit Security................606.3.....10........0
Total unsecured debts..........15469.11..60........-


Monthly Budget Summary
Total monthly income.................... 2,311.4
Expenses (including HP & secured debts). 1,788.11
Available for debt repayments........... 523.29
Monthly UNsecured debt repayments....... 60
Amount left after debt repayments....... 463.29

Personal Balance Sheet Summary
Total assets (things you own)........... 131,500
Total HP & Secured debt................. -1,223,530
Total Unsecured debt.................... -15,469.11
Net Assets.............................. -1,107,499.11

Hello All

Having a bit of a bad day today...bit weepy. Been signed off for 2 weeks now.

On a positive note I have redone my SOA and if I stick to what I have said and get myself clear with priority debts, we wouldnt be doing to bad with what we have left.

The main priority at the moment is to clear council tax arrears and water, then that would free up money to pay more towards mortgage arrears etc, and then we would have this extra wage left.

One of my sons is happy to go packed luch, so that has halfed the dinner money straight away

I have signed up to the GC to reduce food bill to £280.00, so lets see how that goes.

Also as we go into the spring/summer we use less gas and elec that that should reduce to.

I know it is not going to be easy, and going to be hard next few months paying these debts, but after seeing this SOA this is the outcome I want.

Bit of good news too, I complained to Halifax regarding £75.00 charges that were going to leave my husbands account next week, and as a goodwill gesture they waivered them, and also said would give us £150 for previous charges we have had in the past I cried with joy on the phone. I explained to her every month they put the charges on, we go overdrawn, which in turn creates the further charges the following month

So checking account all the time for money going in, ...said could take upto next week to credit. Oh yes I have sold 1 of the items on ebay for £40, so all in all not looking too bad, just wish I could be bit more happier about it Nevermind will get there.

I am a parent, so know where I am coming from with this - you tell both your sons you are going on packed lunch - you can not afford £8 a week on one child's lunch, why should one child have packed lunch and the other not. CRAZY - you are the adult, you tell them tough. You have still not allowed anything for presents or insurance which is essential. If you do not divide up the budget properly and put money aside for clothes, presents, emergencies then the first time one of these happens as it will, you will go into arrears again. TAKE CONTROL . I have put comments on areas where you are missing from budget above. If you factor it all in you get a more thorough picture, as soon as you have yourself on an even keel - could you look at moving off pre -payment meters for the utilities?

summer33

patchwork_cat wrote: »

I am a parent, so know where I am coming from with this - you tell both your sons you are going on packed lunch - you can not afford £8 a week on one child's lunch, why should one child have packed lunch and the other not. CRAZY - you are the adult, you tell them tough. You have still not allowed anything for presents or insurance which is essential. If you do not divide up the budget properly and put money aside for clothes, presents, emergencies then the first time one of these happens as it will, you will go into arrears again. TAKE CONTROL . I have put comments on areas where you are missing from budget above. If you factor it all in you get a more thorough picture, as soon as you have yourself on an even keel - could you look at moving off pre -payment meters for the utilities?

Patchwork Cat thanks for comments, but as I said this SOA was to see if I wasnt in arrears what would be left. Cotta asked me to post a SOA with the advice I had received and this was it. Once I am in this position I can then start dividing what money is left into the different areas. Main area would be to pay more towards the 15k debt, and then saving for presents/clothes/car stuff etc, and also getting the important insurance we need.

Yes I am the parent, and as a parent I do take control, but sometimes I do give them a choice. If 1 does not want to be packed lunch, then I am not going to make them...sorry I just dont want to be buying packed luch food, that I know is going to be wasted

I wouldnt want to change from prepayment to be honest, as when we did receive quarterly bills, is was a big bill to pay at once, and as usual we hadnt budgeted for it. I prefer paying as we go...plus dont think they would change us anyway.

Thanks