Soa Help

autumn2012_2

asparagus1968 wrote: »

do you use cashback sites at all? I use top cash back, but thereis quidco too. If you can't cutback anywhere, you can make a little money on your insurances and any online shopping you do, every penny helps...

Im signed up to them but I hardly use them, All my insurances are the cheapest. The £20 vet is my cat unfortunately has a long term hair loss problem.

DCFC79

Where do you do your shopping ?

autumn2012_2

DCFC79 wrote: »

Where do you do your shopping ?

Aldi & Farmfood for food shopping.

DCFC79

autumn2012 wrote: »

Aldi & Farmfood for food shopping.

Rules that out then.

autumn2012_2

asparagus1968 wrote: »

you probably need to do a spending diary in that case!:)

I tried to keep one last year but I keep forgetting to write in it. However I will start one again!

enthusiasticsaver

Was the debt taken out for anything specific - ie can you pinpoint what each debt was taken out for? I can see one loan was for your car and the interest free loans for household goods. What were the other two loans taken out for? If they were taken out for debt consolidation and you have an overdraft or credit cards then these are red flags to say you are living beyond your means. However as you have £660 in savings and don't mention overdrafts, credit cards I am assuming you are up to date with everything?


The only thing I can see which could be reduced is your car insurance is high so do you use comparison sites each year to get it as cheap as possible? The mobiles are high but you already know about that. If you have money left which is more than the £120 your soa says then I am guessing you are budgeting well and managing within your income.

autumn2012_2

enthusiasticsaver wrote: »

Was the debt taken out for anything specific - ie can you pinpoint what each debt was taken out for? I can see one loan was for your car and the interest free loans for household goods. What were the other two loans taken out for? If they were taken out for debt consolidation and you have an overdraft or credit cards then these are red flags to say you are living beyond your means. However as you have £660 in savings and don't mention overdrafts, credit cards I am assuming you are up to date with everything?


The only thing I can see which could be reduced is your car insurance is high so do you use comparison sites each year to get it as cheap as possible? The mobiles are high but you already know about that. If you have money left which is more than the £120 your soa says then I am guessing you are budgeting well and managing within your income.

The Loans were taken out to pay for home improvements, wedding, some CC debt also. We are upto date with everything, never missed a payment or been late with a payment. CC has 0 balance and I have an overdraft £300 but I never go into it.

enthusiasticsaver

autumn2012 wrote: »

The Loans were taken out to pay for home improvements, wedding, some CC debt also. We are upto date with everything, never missed a payment or been late with a payment. CC has 0 balance and I have an overdraft £300 but I never go into it.

It looks like you are managing your finances quite well then. What was the object in posting your soa? Are you just looking for advice on where to cut down? My suggestion would be to overpay on the loans as and when you are able to and there are areas to cut down like mobiles, cable tv etc but if you are managing financially and are happy with that then that is a personal decision. Why is your car insurance so high? Are you quite young or have you had to claim on it recently?

matchboxfull

Do you think you might be able to get a lower rate or a money transfer card for your 13% loan? Rate is pretty high. Obviously you have to be disciplined to pull this off.

autumn2012_2

enthusiasticsaver wrote: »

It looks like you are managing your finances quite well then. What was the object in posting your soa? Are you just looking for advice on where to cut down? My suggestion would be to overpay on the loans as and when you are able to and there are areas to cut down like mobiles, cable tv etc but if you are managing financially and are happy with that then that is a personal decision. Why is your car insurance so high? Are you quite young or have you had to claim on it recently?

Sorry the £56 is for myself and my husband - I am 22 and only passed on 6th Jan so I think £56 is pretty cheap?