Working towards being debt free and a new house.

dipdap

Hello diary
Well I've found out DH has had his bonus cut so it's about 1/3 of what it would usually be
Lots of bills coming next month, everyone seems to want money at the moment
We have been a bit naughty though, booked a short break away for the kids in the holiday, came to £450 for a couple of days away at a well known theme park. We probably shouldn't be spending on that but the kids haven't had a holiday in years so I figured a short break and some fun would do us all some good :j
Need to get serious with the debt busting next month (after we've been on our break )

dipdap

Good morning diary
Well it's April fools day which means it's a new month, I better have a sit down and check on the state of our finances
It's looking a lot better this month :j

The kids had a fantastic couple of days at Alton Towers. The place wasn't massively busy so they managed to go on lots of stuff, I even went on the front row of the smiler
Was an expensive 2 days (whole thing cost about £600 in the end for food and hotel) but was well worth it

dipdap

Debt for the end of March.

£660 CC 1 (balance is now paid off every month so no interest is accrued)
£0 CC 2 :j it's finally empty :j
£3,581 CC 3 split between 0% BT until January 2017 & 0% purchases till September.

Total amount outstanding £4,241

I'm quite close to my overdraft this month so I don't expect the debts to drop by much at the end of April.
Better keep ploughing through the overtime

Dobbibill

dipdap wrote: »

Debt for the end of March.

£660 CC 1 (balance is now paid off every month so no interest is accrued)
£0 CC 2 :j it's finally empty :j
£3,581 CC 3 split between 0% BT until January 2017 & 0% purchases till September.

Total amount outstanding £4,241

I'm quite close to my overdraft this month so I don't expect the debts to drop by much at the end of April.
Better keep ploughing through the overtime

Well done, you are doing so well.

only 7% left to go :T

Baby steps will still get you there, even with OD being used temporarily, don't be too hard on yourself, it's not always about big drops in figures, lots of little bits will get you there too.

dipdap

Hey DB
I'm not a patient person baby steps are only good for so long to me I feel like we've done way too many of them for a long time
This debt was supposed to have been gone when we moved, were nearly a year on (where has the time gone!) and it's still here.

Oh well, think happy thoughts
Hopefully this is the kick I need to bring our spending down some more (it definitely needs it!)

dipdap

Good evening diary
I'm off to bed with a determination to sort out the spending starting tomorrow.
DH wants to take me to see the new car he wants and I want to sort out cash for taking the kids away again this year.
I think I'm going to start trying meal planning again, more cheaper meals are needed
Night diary, I'll be back tomorrow with a new SOA to work on

dipdap

Morning diary.
I did do my SOA but didn't get round to popping back on here to post it
Can't find it now so will sit on the laptop when it's powered up and write it up again

dipdap

Well I've written it back up, but have been having problems trying to get it copied and pasted so have updated my old one manually

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 4
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 700
Partners monthly income after tax....... 1800
Benefits................................ 450
Other income............................ 0
Total monthly income.................... 2950

Monthly Expense Details
Mortgage................................ 795
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 150
Electricity............................. 70 varies based on meter reading
Gas..................................... 30 as above
Oil..................................... 0
Water rates............................. 42
Telephone (land line)................... 15 part of package
Mobile phone............................ 30
TV Licence.............................. 13
Satellite/Cable TV...................... 50 part of package
Internet Services....................... 15 part of package
Groceries etc. ......................... 400 Overestimate, possibly a bit lower
Clothing................................ 50
Petrol/diesel........................... 150
Road tax................................ 10
Car Insurance........................... 39
Car maintenance (including MOT)......... 45
Car parking............................. 30
Other travel............................ 100 (school bus fares)
Childcare/nursery....................... 100
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 12
Pet insurance/vet bills................. 0
Buildings insurance..................... 8
Contents insurance...................... 5
Life assurance ......................... 130
Presents (birthday, christmas etc)...... 20 (should be lower, i save my online earning amazon vouchers for Xmas etc )
Haircuts................................ 30
Basketball.............................. 12
Dance................................... 114
Lottery................................. 18
Total monthly expenses.................. 2483


Assets
Cash.................................... 0
House value (Gross)..................... 230000
Shares and bonds........................ 3000
Car(s).................................. 5000
Other assets............................ 0
Total Assets............................ 238000


Secured & HP Debts
Description....................Debt......Monthly.. .APR
Mortgage...................... 170000 ....(795)......3.95
Help to buy................... 46000 .....(0)........0
Total secured & HP debts...... 216000 .....-.........-

Unsecured Debts
Description....................Debt......Monthly.. .APR
Tcard..........................738.......20........ .19.9 card is cleared at the end of every month.
Bcard..........................3549......80........ .0 Puchase 0% rate ends September, BT 0% rate ends January.
Total unsecured debts..........4287.....100.......-


Monthly Budget Summary
Total monthly income.................... 2,950
Expenses (including HP & secured debts). 2,483
Available for debt repayments........... 467
Monthly UNsecured debt repayments....... 100
Amount left after debt repayments....... 367

Personal Balance Sheet Summary
Total assets (things you own)........... 238,000
Total HP & Secured debt................. -216,000
Total Unsecured debt.................... -4,287
Net Assets.............................. 17,713

Hopefully this is correct, will have a read back over it to check

dipdap

Good morning diary.
I had a dream a couple of days ago that we won the lottery, was gutted when I woke up
Now I'm determined to find a way for us to have more money (not yet figured out how though!)
I think I'm going to try something different and set myself a new target for every month

Target for the month of April is to clock up over 15 hours in overtime
Target for the end of the year is to be debt free :j

Both these targets should be easily achieved, I've been doing overtime since the start of the month anyway

Dobbibill

Hey dipdap,

Great stuff setting targets, and with both of them being quite achievable it should be steady progression for you.

Good luck :j I'm going to be following and cheering from the sidelines

Dobbi