advice needed

hard_working_dave

Hi Everone ,very new here

Ok,due to a recurring hip and knee injury,from a fall at home last year.
I have,taken advice from my Dr,and reluctantly, gone back to part time work,from a full time postion,in my current job.As a result a drop in income
I live on my own,just turned 50 ,in January this year,eeek!!
in a mobile home,so my bills are resonable.Done the budget using the budget brain and things are looking ok.

I have some debt,a heating loan to replace my old worn out boiler,this has 28 months to go,and an interest free Barclaycard,card , 3year deal ,which I transfered my old card balance over to.

Aiming to try and cut back and reduce/clear my debt in my Barclaycard first of all
Any advice or help would be appreciated

Cheers

andyfromotley

hi dave,

fill this in and post it on here, theres a MSE button to do so and we'll have a look and see where you could be making savings and getting those debts cracked.

http://www.stoozing.com/calculator/soa.php

dancingfairy

Top tips are 1) do a spending diary so you can see where all the 'little bits of bobs' of money are disappearing to ( you might be surprised how much this adds up to).
2) the thing most people underestimate is the food bill. Things like meal planning and cooking twice as much to freeze some can really help to bring the cost down. If you head to the oldstyle board on here you'll get lots of hints and tips re keeping the food budget in check ( they're really good over there). They also have lots of old fashioned thrift tips which you might be able to make use of whilst you've got more time at home ( although obviously it does depend on your illness/ disability how much you can do but I'm sure you'll find it really helpful).
Good luck on your debt busting mission.
Df

hard_working_dave

Hi Everyone

Completed my S.O.A.One thing got me stumped was my Calor Gas,since this is bought every say quarter,like to have one bottle in front,so I don't run out and have no heatingof course!!

Its is difficult to calculate the cost per bottle as it varies,(as al lforms of heating fuel does)

I have identified a couple of areas I can cut out.My monthly income is nett of course,(worst case,as I might be offered overtime now and then.)
My new contract becomes live from 15/2/15 so no payslip as yet.

As a new forum member I have realised I cannot post my S.O.A at presnt,

Thanks again for your support.Look forward to getting to grips with this

andyfromotley

No thats not right, you definitely can post it, theres is a 'format for mse' button on there.
ill have a look later if you havent managed it.

hard_working_dave

Yeah I agree

I have followed the instructions for formatting and posting,I can''t work it out,

hard_working_dave

I'm not sure on the Calor Gas side,as I buy it as and when.I tend to have one in front so I don't run out.
Luckly for me I cook and shower by electric,lol
The prices are difficult to work out but my last bottle is as shown.

hard_working_dave

Statement of Affairs and Personal Balance Sheet

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

Monthly Income Details
Monthly income after tax................ 750
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 750

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 68
Electricity............................. 30
Gas..................................... 40
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 32
TV Licence.............................. 21.8
Satellite/Cable TV...................... 0
Internet Services....................... 28
Groceries etc. ......................... 100
Clothing................................ 30
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
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................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 15.48
Presents (birthday, christmas etc)...... 20
Haircuts................................ 8
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
mobile home insurance,contents inc...... 21.8
washing maschine rental................. 18.99
Pitch fee............................... 146.9
Total monthly expenses.................. 580.97


Assets
Cash.................................... 0
House value (Gross)..................... 70000
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 70000

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
loan for new heating...........3466.15...140.......0
barclaycard....................1541.5....50........0
Total unsecured debts..........5007.65...190.......-


Monthly Budget Summary
Total monthly income.................... 750
Expenses (including HP & secured debts). 580.97
Available for debt repayments........... 169.03
Monthly UNsecured debt repayments....... 190
Amount short for making debt repayments. -20.97

Personal Balance Sheet Summary
Total assets (things you own)........... 70,000
Total HP & Secured debt................. -0
Total Unsecured debt.................... -5,007.65
Net Assets.............................. 64,992.35

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

hard_working_dave

OK got it sorted ,he,he

Must be the old age!! Ha,ha:D

matchboxfull

A TV licence is £12.12 a month

sourcrates

Just one small thing springs to mind, you can buy a washing machine for £150.
That would save you £19 a month for starters.