Facing The Debt To Live Life

D&MFFuture

So I've spent quite a while on here just nosing but never actually got round to signing up. And I've also never thought i'd post a diary because my monies my issue right but I am ridiculously bad at managing it and seem to know nothing about it and indeed it's value and keep stuffing it up. So I figured, why not? Post it here and take all the advice I can get to get more savvy, maximize what I get, minimize what I spend, bust my debts and achieve what I want to in life. Psychology says that if you share with people what you're trying to achieve your more likely to stick at it.

A bit about me then, i'm 28, single and a student that also works as much as I can fit in (normally at the expense of my coursework ). I own my flat and rent out 2 rooms in it, but currently it is a half finished dump due to a beam with dry rot that will need more money than I currently have spent on it once the Factor irons out the issues with getting it fixed.
My income unfortunately is variable (though has been relatively regular lately) and my outgoings sadly are not.
I know I am wasteful with time, money and food and I am not at all organised and I reckon that's a large part of the problem so I aim to try and remedy this and hope that becoming more organised and planning will improve my situation - let me reduce my debt and increase my savings so I can meet the goals I have in my head for the future.

Household Information
Number of adults in household........... 1 (3 because they pay me rent and I cover all the bills with that)
Number of children in household......... 0
Number of cars owned.................... 0

Monthly Income Details
Monthly income after tax................ 1000
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 950
Total monthly income.................... 1950 (approx)

Monthly Expense Details
Mortgage................................ 121.66 (currently not in a fixed rate deal - looking to reduce)
Secured/HP loan repayments.............. 153.00
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 144
Electricity............................. 21
Gas..................................... 10
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 24 (including net)
Mobile phone............................ 70
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 200 (probably more which is ridiculous for just 1 person - reduce!!)
Clothing................................ 50
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 95 (per quarter for a bus ticket) + 50 (on taxis and trains to my parents)
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc)....15.50
Pet insurance/vet bills................. 0
Buildings insurance..................... 60 (per quarter)
Contents insurance...................... 14.22
Life assurance ......................... 34
Other insurance......................... 30 (for my laptop to cover repairs - its needed it, i am clumsy and boiler)
Presents (birthday, christmas etc)...... 0 (I need to start a kitty for this rather than whack it on cards)
Haircuts................................ 0 (my friend does it for free)
Entertainment........................... 50
Holiday................................. 0 (no holidays till this is fixed!)
Emergency fund.......................... 5 (per day)
Pension.............................. 100
Gym......................................36.50 (need to reduce to student rate)
Total monthly expenses.................. 1292.22

Assets
Cash.................................... 0
House value (Gross) .............. 110000 (though probably not in its current state)
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 110000


Secured & HP Debts
Description....................Debt......Monthly.. .APR
Mortgage...................... 25000...(121.66)......5%
HP Debt..........................9000 ...(153).......???? (find paperwork)
Total secured & HP debts...... 34000....-.........- [/b]

Unsecured Debts
Description....................Debt......Monthly.. .APR
RBS CC...........................4390......as much as poss.......15%
MBNA CC.........................2000......50.......1456 0% 472 17%
Fluid CC......................... 5399 ... 50.......0%
Barclaycard....................3024.......100.....1250@0% rest @17%
America.........................2300......amap.....0 but must be paid by April or transferred.
Total unsecured debts.........17113 :eek:


Monthly Budget Summary
Total monthly income.................... 1950
Expenses (including HP & secured debts). 1292.22
Available for debt repayments........... 657.78
Monthly UNsecured debt repayments....... 300 minimum (and american somehow)
Amount left after debt repayments....... sweet FA

Personal Balance Sheet Summary
Total assets (things you own)........... 110000
Total HP & Secured debt................. -34000
Total Unsecured debt.................... -17113
Net Assets..............................58887


Royally up the creak with no paddles and a boat with a hole in it.

D&MFFuture

Well I can't say I've made much headway, studying for exams doesn't half take some time if I want to pass.
I have managed to list a few items on Eeeeeebay and they have watchers so hopefully they will sell and make me some money to get back on track.
I also have a couple of old mobile phones that should net me some money too and possible a couple of games consoles I can sell too.
Signed up to a new fixed rate gas and leccy tariff too which gave me a £100 high-street gift card which will cover Xmas presents.
Wages at the end of this month and my flatmate's rents next month should see me back in the black rather than mining my overdraft and the end of January's wage should have a small bonus attached to be able to send that to my CC's.
This hopefully means that the second half of my student loan can be sent straight to deal with my debts rather than shoring up my overdraft.
Next job is cancel some DD's and accounts that I don't need and try and reduce things I do, such as my mortgage and student discount on my gym membership.
If anyone else out there has any advice or suggestions on cost cutting that'd be amazing, or even just suggestions on how to find some will power and STOP SPENDING MONEY!!!!!