Starting again! I will be debt free in 2014!

JLS1901

Hello everyone, I've decided to start a new diary on here as I feel the old one had gotten a bit all over the place and a bit depressing so here's a new start for 2014.

Here's the link for anyone wanting a read:
https://forums.moneysavingexpert.com/discussion/4239553

So 2014 is hopefully going to be a good year as I'm finally (the last 3 years feel like forever!) graduating in July and will be finishing my studies in April (Well actually all being well in a week! as I have a temp job to go to).

I also thought a new diary would keep me focused and I now have a fantastic OH who I know will support me on this journey.. and luckily he is very very good with his money so I'm hoping his tightness will rub off on me!!

Anyway I will be back later with an updated SOA and my plans
Welly xx

JLS1901

Morning everyone, It's a glorious sunny morning here but I'm stuck inside writing my dissertation which isn't fun!

Anyway I'm back with a copy of my SOA and a little more background info. At the moment I'm living on my student loan, I am however about to start some lambing work on Saturday for 3 weeks then I hopefully will have another month working on a chicken farm after that. Ideally I will get something permanent sorted for after then and I'll be able to use some of the money I've earned to pay off my credit cards.
I also really need to start saving to buy a new car, my little motor will keep me going for now but as I do alot of driving to uni and my bfs and who knows where I might have to travel for a job so it'd be nice to have a nice car and just generally have some savings.

Right some notes on my SOA all the bills are my half as I live with my sister and yes I'm a student but I still think it's only fair I pay my half of the reduced council tax... If anyone can see anywhere I'm going wrong or anything suggestions welcome

Updated SOA in next post!




Just a few things, I know I have no emergency fund or anything like that my sister is the one with a full time job she takes care of any big things that need sorting at the moment till I get back on my feet.

Water - we have a private supply.
Internet and home phone are together.

Social/Clothes/Haircuts - I'm a practical recluse at the moment don't go out, tend to see most of my friends at uni and we are all in the same boat so don't do nights out etc. Clothes and haircuts I've just accepted I can't afford these till I get sorted.

JLS1901

Hello I'm back I kind of got consumed by my uni work and working at lambing time!! So now I'm back and more determined than ever to be debt free.. I'm not sure how it's going to pan out but we shall see!

So update - I have finished uni (yey no more driving 300 miles a week) and more to the point I actually passed and have a degree I'm so pleased with myself as never felt like I'd get there!! I also now have a job it's only part time but literally 10 mins from my house and I'm doing something I love and it's great.. but I'm still in debt so here's my SOA and I will have to come up with a plan to tackle it...

Welly xx

JLS1901

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 560
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 560

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 212.5
Management charge (leasehold property).. 0
Council tax............................. 57
Electricity............................. 30
Gas..................................... 0
Oil..................................... 0
Water rates............................. 8.29
Telephone (land line)................... 19.8
Mobile phone............................ 33
TV Licence.............................. 6.06
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 70
Clothing................................ 0
Petrol/diesel........................... 80
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 4.24
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 520.89


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

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Halifax........................743.14....29.67.....19.9
Tesco CC.......................1255.07...61........18.9
Overdraft......................750.......0.........0
Total unsecured debts..........2748.21...90.67.....-


Monthly Budget Summary
Total monthly income.................... 560
Expenses (including HP & secured debts). 520.89
Available for debt repayments........... 39.11
Monthly UNsecured debt repayments....... 90.67
Amount short for making debt repayments. -51.56

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -2,748.21
Net Assets.............................. -2,748.21

Created using the SOA calculator at https://www.stoozing.com.
Reproduced on Moneysavingexpert with permission, using Firefox browser.

JLS1901

Hello I'm back, I've spent the weekend applying for job but it's so blooming hard.. My current part time job is effectively my dream job but for the moment at least there's no overtime possible or the chance of going full time so I'm applying for full time jobs in anything and everything and any part time jobs that might fit in in between. The prospect of doing something I have no desire to do is depressing but I know it might just have to happen.

I had a scout round for things to put on ebay at the weekend but I'm running out of things to sell.

I'm feeling really really low today I know I don't owe alot and I am grateful for my part time job but I'm worried I'll never get out this trap... I cry myself to sleep at night because I feel like a total failure.

MrsSmith2013

Hi Weelass, I didn't want to read and run! Sorry to hear you're feeling so low about your debts, its not a nice feeling no matter how much or how little you owe. The good thing is that you're trying to make a difference and you WILL get there in the end!!

You're definately not a failure, you've realised that you need to clear the debts and are trying your best - you can't do any more than your best.

Have you had a look at online surveys that could get you a few ££? Maybe sign up for Quidco and take a look at the "no brainer" deals as you get cashback from there. Plus any online shopping or searching you do will net you a few pounds as well.

I'll subscribe to your diary and keep checking back, but I'm sure you can kick the debt in the butt, no problem!

Mrs S x

Mint1955

Cut yourself some slack.
You have your degree, you are probably exhausted so that's making everything look worse.

As you are part time can you get any extra shifts, second part time job, dog walk babysit or something like ironing or cleaning locally for friends neighbours or locals.

Take a deep breath xxxx

JLS1901

Hello Mrs S and Mint1955, thanks for stopping by
I must say I've just been out for a good couple of hours with my dog and I feel much better for it
Mrs S - I am a member of quidco and use it whenever possible, I am also a member of swagbucks and go backwards and forwards to it as I get bored and it seems to take ages to get to a decent payout amount. I know I will get there eventually just feels like it's so far away right now!

Mint - I think your right I worked stupidly hard for my degree and the last few months was extremely draining and I am the sort of person that puts immense pressure on myself about everything. I can't get any more hours at my current job as they are a small charity and it's just not possible. I live in a really rural area and there aren't many folk who need babysitters or dog walkers but it's definitely an idea I'll consider.

I have this afternoon applied for a job at Tesco which will fit in around my current job which would help alot so we shall see.

Tonight I intend to Ebay some more things I have and I plan on using any ebay money I make to use towards my credit cards.

Anyway back to the washing pile

Welly x

JLS1901

I'm back! I've just decided I need to start keeping a diary again in my mission to be debt free.

Many things have changed since June when I last updated this so in no particular order...

The good:

- I graduated and passed my degree (yey!!)
- I've moved to the other side of the country and now have a full time job (bigger yey!)
- I'm now in the same town as my OH so no more spending ridiculous amounts of money on fuel and I get to see him more.

The Bad:

- I'm in more debt than before

Right I'll now do an updated SOA and post it

JLS1901

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 1062
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1062

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 380 (Renting a room all bills inc)
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 33 (Runs out in Feb will be going to £14 a month sim only)
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 70
Clothing................................ 0
Petrol/diesel........................... 60
Road tax................................ 20
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 50
Total monthly expenses.................. 613


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
Tesco CC.......................1249.09...35........20
Halifax Student CC.............690.32....16.71.....17.95
RBS CC.........................474.35....5.........0
Littlewoods....................441.......40........0

Any recommendations welcome

JLS1901

Not much to add off work ill today so just musing over what I can do to shift this debt faster, I have nothing else left to sell so thinking of other ways.

The tesco card is the one I need to clear first as the interest is killing me on that, what I'm hoping to do is over pay each one by a certain amount each month then whatever I have left pay more of the tesco card. I'll be so glad when I can be rid of them all!!