Debt Free, Winning the Gold and Saving for a House !!

TheUnderDog

Hi,

I've been reading these forums a lot over the past year or so and thought id start a diary for two reasons. One i need to find a way to make myself accountable and two I want to become even more money saving !!

My situation is probably different than some, I don't have any bad debt. By that I mean my payments are more than within my affordability and I've never missed a payment. That doesn't mean that i don't want to stop paying the bank interest !!.

My girlfriend of two and a half years left me three months ago halfway into a tenancy on our first home. So i've moved back home and want to take this opportunity to give myself a really good start in life and focus on my training.

I train in MMA and Jiu jitsu and i have my first competition in two weeks !! I'd like to win my first Gold medal this year and have the £1000 ready to start the save to buy ISA when they come out.

I'll post my SOA in the next post, Like i said I'm comfortable but I'd like to ensure i have a nest egg in the future.

TheUnderDog

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2.00
Number of children in household.........
Number of cars owned.................... 1.00

Monthly Income Details
Monthly income after tax................ 1100
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1100

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 90
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 41
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 200
Clothing................................ 0
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 110
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................. 24
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.......................... 0
Training and Gym........................ 80
Total monthly expenses.................. 545


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 2000
Other assets............................ 0
Total Assets............................ 2000

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Loan...........................5140......145.......16.6
Credit Card ...................100.......5.........24.4
Argos Card ....................500.......0.........0
Total unsecured debts..........5740......150.......-


Monthly Budget Summary
Total monthly income.................... 1,100
Expenses (including HP & secured debts). 545
Available for debt repayments........... 555
Monthly UNsecured debt repayments....... 150
Amount left after debt repayments....... 405

Personal Balance Sheet Summary
Total assets (things you own)........... 2,000
Total HP & Secured debt................. -0
Total Unsecured debt.................... -5,740
Net Assets.............................. -3,740

TheUnderDog

Updates- Dog as wonderful as he is needs therapy. £60 in the hole.
I need a new mouth guard which is £60 aswell.

Also woke up last Sunday and couldn't move my neck. I've been on a sofa bed since i came home and it just wasn't working. So £180 later and i've got a new bed and memory foam mattress. The plus side is i convinced the store to apply the online discount code and saved £45!

Expecting funds from switching banks and so should be able to pay out the whole £500.00 thats now on my argos card so will clear that and pay this off.

Leaves £160 to pay on the credit card then time to hit the loan ! !