Diary of a DFW Aged 33 & 3/4

edited 28 July 2014 at 3:54PM in Debt Free Diaries
5 replies 678 views
EmilyTeeEmilyTee Forumite
56 Posts
edited 28 July 2014 at 3:54PM in Debt Free Diaries
Right new start.. new diary... new focus :D

I have been tackling my debt for 6 years my light bulb came when I lost my job just as the crunch hit and I couldn’t get another one for months, my balance was almost £30k, I worked a couple of hours as temp in a office, a full time waitress job and helped out in a bar until I found lower salary (but perm) job. I’ve since climbed back up the ladder slowly paying things off as I went, however I had a bit of a slip due to sliding into depression - queue weight gain, debt gain and “stuff” gain.. yes I’ve figured my depression ignites a need to surround myself in new stuff.. :o

I got my act together last month, but just as I realized the situation was about to go dyer again and I had no way of preventing it. I could kick myself, I’d paid off a massive chunk of debt and all my defaults bar one was settled and about to roll off my file.. :mad:

After a lot of soul searching, worrying, number crunching and stressing I made the decision to consolidate the last few bits of my debt. Not always the best solution I understand, but I’m lucky enough to have equity, a pretty solid job and the support of you wonderful people. It should go through on Friday leaving me with a debt balance of £16k

I guess some would say I’ve taken the easy option but I’ve done six years… six years on my own with barely a soul knowing other than you good people on here robbing peter to pay paul and finding money somewhere to make ends meet and I’m tired, I’m in a position where I want to live my life, I’ve been pulled about so much and so restricted the last 8 months and I just want to get my life back.

I could all being well, clear this loan according to the snowball by 21st April 2016 as it allows over payments so I shall set that as my debt free date….
:whistle::whistle:So here I go again on my own...
goin' down the only road i've ever known...:whistle::whistle::dance:


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

Monthly Income Details
Monthly income after tax................ 2091
Total monthly income.................... 2091

Monthly Expense Details
Mortgage................................ 363.3
Secured/HP loan repayments.............. 286.7
Rent.................................... 4.16 (Ground rent to freeholder)
Management charge (leasehold prop).. 100
Council tax............................. 75
Electricity............................. 68
Mobile phone............................ 35 Runs out in July next year (2 year contract)
TV License.............................. 12.18
Sky/Internet/Phone...................... 44.7 (unlimited BB for uni (£7) Phone (£5) tv (£32.50)) runs out in May
Groceries etc. ......................... 130
Clothing................................ 20 (more of a clothing saving fund! Shoes etc)
Petrol/diesel........................... 50 (should be more than enough)
Road tax................................ 18 (paid annually)
Car Insurance........................... 28.6
Car maintenance (including MOT)......... 25 (£200 for the service, £50 MOT)
Other travel............................ 300
Buildings insurance..................... 35 (arranged by freeholder unfortunately)
Contents insurance...................... 7.85 (runs out in Nov)
Other insurance......................... 8.16 (health insurance)
Presents (birthday, christmas etc)...... 25
Haircuts................................ 10
Entertainment........................... 40
Holiday................................. 25
Emergency fund.......................... 50
Total monthly expenses.................. 1761.35

Assets
House value (Gross)..................... 130000
Car(s).................................. 3500
Total Assets............................ 133500

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 72154....(363.3)....4.5
Secured Debt.................. 16000....(286.7)....10
Total secured & HP debts...... 88154.....-.........-

Monthly Budget Summary
Total monthly income.................... 2,091
Expenses (including HP & secured debts). 1,761.35
Available for debt repayments........... 329.65
Amount left after debt repayments....... 329.65

Personal Balance Sheet Summary
Total assets (things you own)........... 133,500
Total HP & Secured debt................. -88,154
Net Assets.............................. 45,346
:(:j:jDebt:
£18426


Being broke isn't the end of the world...it's the begining of a new plan!

Replies

  • Subscribed :D x
    Time to start again :o
  • jodles16jodles16 Forumite
    1.5K Posts
    Car Insurance Carver!
    ✭✭✭
    Sounds like you have been through the mill lately, but your back on the right track!

    Good luck!

    Jodles :j
    MFW2020 #115 250/3000 J-250
    1% challenge- /1525
    Save 1k in 2020- /3000

    Joining in UberFrugalMonthChallenge set up by the Frugalwoods!
  • EmilyTeeEmilyTee Forumite
    56 Posts
    Thanks Jodles16 & Olivia-Louise!

    So today the paperwork is winging its way to the loan company and hopefully everything will be in place by Friday. I’ve decided I’m going to have a good look at what I can do to reduce general spends, such as food as I have managed pretty well the last two months when I haven’t really had any money.. it’s made me realize how much I waste on food.

    I’ve had a look at the green fingered board and I think I’m going to have a go at growing my own indoor veg so I will take a look at setting something up this weekend. I think fresh produce is something I waste a lot of.

    I’ve found a website that allows me to bulk buy cat litter and food for the moog-a-trons which saves about £10 a month including delivery so I will start doing that.

    I have blocked all Groupon/Wowcher etc.. emails from my inbox to prevent being tempted buying a good deal just because it’s a good deal.
    :(:j:jDebt:
    £18426


    Being broke isn't the end of the world...it's the begining of a new plan!
  • mismatchmismatch Forumite
    90 Posts
    Xmas Saver!
    Good luck!!! I've subscribed, ur around my age and personal debt (if I don't count hubbys debt anyway lol) b nice to see how u come along. Can I ask where u found bulk cat litter? My litter bill is just plain silly
    Living half in debt, half in denial
    At the bottom of the hole....pass the rope and hoist me up!!
  • EmilyTeeEmilyTee Forumite
    56 Posts
    Hi Mismatch its Zooplus - they do a discount as well if you sign up to a news letter for your first order :D

    Bit of a set back today, I rung the broker as I had a call from one of my creditors and now i'm told they were miss my work details and then they will start processing everything and I should be sorted by Wednesday :mad: fuming.

    I have this really uneasy feeling that this isn't going to happen and i'm going to be in a right pickle, i've got enough money to get to work til Wedneday and I've call round and told all my creditors that settlement was coming today I feel sick at the thought of having to tell them it will be another 5 days _pale_ some of them have let me off payments this month because of that..maybe i will email them all to avoid having the phone call.

    I grabbed a wooden box that I saw dumped round the back of the shops near where I live last night so I will look at whether I can use that for some of my indoor veg patch

    The boss is taken the team for lunch today which is a god send.
    :(:j:jDebt:
    £18426


    Being broke isn't the end of the world...it's the begining of a new plan!
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