Fat, forty and financially f**ked

mothsinmywallet_2

Cannot believe it is more than a year since I last posted. Things have changed in small ways. Debt continues to go up and down. Some things have improved, some have gone the other way. Will do SOA and have a look at where I can tweak things. 

mothsinmywallet_2

Also can't get to my old user name. Do not understand why! 

mothsinmywallet_2

Household Information

Number of adults in household........... 2

Number of children in household......... 3

Number of cars owned.................... 2

Monthly Income Details

Monthly income after tax................ 1076.46

Partners monthly income after tax....... 0

Benefits................................ 1187.14

Other income............................ 0

Total monthly income.................... 2263.6

Monthly Expense Details

Mortgage................................ 0

Secured/HP loan repayments.............. 0

Rent.................................... 0

Management charge (leasehold property).. 0

Council tax............................. 137

Electricity............................. 46.5

Gas..................................... 46.5

Oil..................................... 0

Water rates............................. 41.78

Telephone (land line)................... 0

Mobile phone............................ 33.09

TV Licence.............................. 11.39

Satellite/Cable TV...................... 19.98

Internet Services....................... 41.24

Groceries etc. ......................... 346.67

Clothing................................ 50

Petrol/diesel........................... 100

Road tax................................ 30.18

Car Insurance........................... 69.75

Car maintenance (including MOT)......... 30

Car parking............................. 5

Other travel............................ 30

Childcare/nursery....................... 0

Other child related expenses............ 60

Medical (prescriptions, dentist etc).... 65.93

Pet insurance/vet bills................. 0

Buildings insurance..................... 8.85

Contents insurance...................... 8.85

Life assurance ......................... 49.56

Other insurance......................... 14.92

Presents (birthday, christmas etc)...... 50

Haircuts................................ 60

Entertainment........................... 90

Holiday................................. 65

Emergency fund.......................... 0

Total monthly expenses.................. 1512.19

Assets

Cash.................................... 0

House value (Gross)..................... 260000

Shares and bonds........................ 0

Car(s).................................. 6000

Other assets............................ 0

Total Assets............................ 266000

No Secured nor Hire Purchase Debts

Unsecured Debts

Description....................Debt......Monthly...APR

HSBC credit card ..............5821.4....145.5.....17.9

Capital One card...............1280......0.........0

Student loan...................0.........0.........0

Total unsecured debts..........7101.4....145.5.....- 

Monthly Budget Summary

Total monthly income.................... 2,263.6

Expenses (including HP & secured debts). 1,512.19

Available for debt repayments........... 751.41

Monthly UNsecured debt repayments....... 145.5

Amount left after debt repayments....... 605.91

Personal Balance Sheet Summary

Total assets (things you own)........... 266,000

Total HP & Secured debt................. -0

Total Unsecured debt.................... -7,101.4

Net Assets.............................. 258,898.6

Tortoiseshell20

welcome back - I started reading and then realised it jumped a year : ) How are things going? 

mothsinmywallet_2

Hi! Thanks for reading. It's going ok. DH now gets basic rate PIP so uses that for all his spends.  Our universal credit is quite high, which is helping too. DD is starting 6th form, which has been quite expensive. Have done uniform shopping for all 3 gradually over the last 2 months. 
We've actually been better off due to covid (I realise how lucky we are) as our costs have been hugely reduced and our income has remained the same. 
I am still not focused on paying down the credit card - have cleared overdraft but have also got a graduate loan. I feel like I am one of those people who makes you roll your eyes when you read their diary... 

mothsinmywallet_2

DH's car died but I have a few hundred in the car maintenance pot. I suspect it may be terminal which would mean we have to get him another one. There's definitely not enough in the pot for that, unfortunately. 
Still sticking with all my YNAB plans which feels great. Had a lovely afternoon out with friends yesterday, we did one of those online puzzle hunt things which cost us £5 each and took 2.5 hours of walking round our lovely city in the sunshine. Then back to mine for a barbecue in the garden which DH had prepared while we were out. A really lovely budget friendly day! 

mark55man

hi there - its a long term battle isn't it, but since you started your income/benefits are up, but kids never cease to be expensive.

On the car front, be careful at the moment there are some bargains as people realise they don;t need 2 cars, but make sure whatever you buy has been driven regularly (and if diesel for good distances), as in my experience older cars go wrong quicker if not driven

I'm sorry if this has been suggested and debated before, but I think you should put your targets and totals into a signature, just to keep reminding you of the progress.  some posters can kill debt by 18 months brutal slog, others, myself included take the scenic route - and families and work difficulties are typical features of that route.  The good thing about signatures is that they are very forgiving so when you change them they change everywhere so you don't have a historical record of changed plans

mothsinmywallet_2

Thanks for posting. 
Not sure what to do about car,  I'm hoping someone I know will be getting rid of one so I know what I'm getting. It's going to have to be a very very cheap one whatever happens!
I am going to update my signature. Hang on. 

mothsinmywallet_2

Car needs over £500 spent on it. Plus two new tyres (preferably 4) and another £100 if we want to lock it. Already spent £60 on towing, £60 on diagnostics. I think it has reached the end of its life. 

mothsinmywallet_2

On the upside, cheeky bit of rounding having counted out lots of loose change takes HSBC credit card down to £5800