Time to stop being Dreamy!

dreamywings1

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 1
Number of children in household......... 3
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 1300
Partners monthly income after tax....... 0
Benefits................................ 717
Other income............................ 650
Total monthly income.................... 2667

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 650
Management charge (leasehold property).. 0
Council tax............................. 300 Paying off the debt
Electricity............................. 120 on a prepayment meter
Gas..................................... 50
Oil..................................... 0
Water rates............................. 78
Telephone (land line)................... 90 Includes tv phone and broadband
Mobile phone............................ 110 for 4 phones
TV Licence.............................. 13
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 650 guestemate as I havent got a clue
Clothing................................ 0
Petrol/diesel........................... 50
Road tax................................ 22
Car Insurance........................... 70
Car maintenance (including MOT)......... 15
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
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
Total monthly expenses.................. 2218


Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 600
Other assets............................ 0
Total Assets............................ 600

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
stepchange.....................4800......131.......0
Total unsecured debts..........4800......131.......-


Monthly Budget Summary
Total monthly income.................... 2,667
Expenses (including HP & secured debts). 2,218
Available for debt repayments........... 449
Monthly UNsecured debt repayments....... 131
Amount left after debt repayments....... 318

Personal Balance Sheet Summary
Total assets (things you own)........... 600
Total HP & Secured debt................. -0
Total Unsecured debt.................... -4,800
Net Assets.............................. -4,200

Created using the SOA calculator at https://www.stoozing.com.
Reproduced on Moneysavingexpert with permission, using other browser.

I havent got a clue where all my money goes! I need to start a sending diary and it starts today

dreamywings1

It seems that I have a surplus but my purse and bank balance tell me a different story. I need to knuckle down and keep a spending diary as that is the only way I am going to have a true story of what is happening with my finances.

IF i do end up having a surplus I cannot make over payments with stepchange so I think it would be more beneficial for me if I started an emergency fund.

My council tax will be paid off by February so that will leave me £300 extra for March which can either go into the emergency fund OR use it against next years council tax giving me a bit of leeway. Not figured out what to do yet but some kind of plan is better than no plan at all

dreamywings1

WAGES!

We are supposed to get paid weekly on a Friday. The boss usually doesnt get round to paying us until the following Wednesday or Thursday and then he gives us a cheque which takes 5 days to clear. I am struggling at the moment with Direct debits as I have had to cancel them because I never know if my wages will of cleared in time. What do you do when you have a boss that likes to mess you around with your pay? (leaving isnt an option as I love my job)

dreamywings1

Ok ive been having a look at the challenges and I quite like the idea of:-

£1 a day challenge (I have a tin ready) (not to be opened till Xmas 2016)
Payment a day Challenge (will use this for Council tax)
£2 savers club (not to be opened till Xmas 2016)

I also on occasion get tips in work so this will go straight onto electric with the hope that I can get enough credit throughout the year to give me at least 1 month of not having to buy any.

thegreenone

My DH is weekly paid, although we know it's every Friday(!) and I pay lots of bills by standing order or manually. My council are quite happy to receive money each week for the council tax, as are BT, Vodafone, TSB for the mortgage and British Gas, although this has now changed thanks to Martin's money saving deal. If you pay all that is owed they don't take the direct debit, although you do need to keep the DD live as part of your contract.


Have a look at paying things weekly, as soon as your cheque clears. Ask your landlord if you can pay weekly in advance. Once you have paid your council tax bill, use that £300 towards next year's, work out how much you would need to pay weekly to clear the bill by 1 December and see if it's achievable. Don't make yourself short but make it doable.


Erm... your food bill for four is enormous. We are three adults mostly with another adult coming home from university and I spend approx. £90 per week. This does vary if I need to top up the store cupboard, buy drinks etc. Your car insurance needs looking at too.


Good luck. Changes won't come overnight, be patient. Little by little.

dreamywings1

Thank you greenone. I really havent got a clue as to how much I spend on groceries so it was an estimate but by the look of things its probably much more. The problem I have is that im a chef and work split shifts 6 days a week leaving me 1 day off. In between the lunch and evening shift I have 2 hours off and really cant be bothered to prepare a meal from scratch and although I have a freezer bursting at the seams its easier for me to nip into the local co op and buy something for the kids dinners or leave them some cash for a take away (my kids are all at college). I need to address the situation and become more organised.

Bobarella

Good luck with it all

dreamywings1

Is there a penalty to pay if you change car insurance companies part way through the year?

dreamywings1

spends today
£10 petrol
£20 electric
£3 hot pork roll!

dreamywings1

Back to work today after having a week off..........Hoping for a no spend day

dreamywings1

Not much to write about. First shift back at work and £1.20 in tips lol Ah well its £1.20 in the pot and a NSD so far