Getting back on track

ronan_2

Hello i only found this website last week and have been glued to it (when wife and kids have let me) my financial situation is quite bad it has taken about 5-6 yrs to get like this and my wife and i are starting to get depressed about it. The kick up the bum came when through my job (armed forces) i have a security review where some one goes though my financial affairs with fine tooth comb this takes place soon so i have been sorting money affairs out, my money problems all started when my wife had a failed business ever since then it has been downward spiral below i will list my incoming/outgoings

my wage £1680
partners wage £878
Child benefit £120

TOTAL £2678 per month


Outgoings

Rent 650
council tax 136
Gas/Elec 60.50
Welcome car F 245
Car insurance 115
Blackhorse loan 63
Mobile Phone 60
Gym 13
Wate rates 25
Food Shoppng 200
Nursery Fees 200
Petrol Cost 140
Debt Paymts 170
Leisure 600

Debts

My cap 1 card 359
next directory 351
Vanquis card 958
Burtons card 685
Welcome Fin 6317
HSBC C/C 5310
Black horse 984
Dell comp 917
HFC Loan 1631
Co-op loan 3878
Natwest c/c 1689
IF C/C 2331
Wife cap 1 c/c 697
barclay c/c 3950


Business debts

princess trust 3045
lombard car 2585
bt 195
bgas 158

TOTAL DEBTS : £36045

Out of leisure income we pay for any car probs/tax/mot kids things etc....

starting august we are going to be commited to paying these debts whatever means over the last 3 years we have managed to pay back 2500 but with me being posted my wife has to find job also has 2nd child last year so nursery fees kick in .
well look forward to chatting to everyone and paying these debts off.

hypno06

Helloo and welcome!!

I am not very good at the whole SOA thing, but just wanted to say Hi!

Others will be around very soon to give you some good advice.

LookingAhead

Hi there! Welcome to DFW :hello:

Finding this site opens up so many new doors doesn't it?

Good luck with everything.

If you are able to post the APRs of credit cards & loans, plus the length of loans (if you feel comfortable doing so) this might help people advise on which debts to tackle first.

I presume you have checked out the "Old Style" forum as well to get a handle on how to save money around the home?

Are you aware of QuidCo? www.quidco.com Whenever you need to buy anything (from insurance to personal items) - see if you can get money back whilst spending.

Good luck!

ronan_2

at work at moment but defintly will post apr's repayments left etc.. thanx for quick responses good to know in good company

Curious_Moose

Leisure £600....must be fun! what are you doing?

On the plus side, you should be a member of a very good pension scheme!?

LookingAhead

Curious_Moose wrote: »

Leisure £600....must be fun! what are you doing?

To be fair the OP did say a lot of car stuff comes out of this budget & things for the kiddies. But I guess when/if the OP posts a breakdown then we can assess it/be more discriminate.

ronan_2

dont get my pension for another 11 yrs im afraid will breakdown the leisure when i get back to my family home in week at work at mo

Curious_Moose

LookingAhead wrote: »

To be fair the OP did say a lot of car stuff comes out of this budget & things for the kiddies. But I guess when/if the OP posts a breakdown then we can assess it/be more discriminate.

Oh, I wasn't knocking him...just jealous