i want to be debt free!

TOBRUK

I haven't any suggestions regarding these charges etc at the moment but I do think you should (all 21 flats) receive a quarterely copy of the account - a run down of where and how all the money goes. I would say it is your right to know how the money is spent. Do you know who receives this money and manages it? You should have a copy of the expenditure.

At £92.50 with 21 flats the total is £1,942.50 a month and £23,310 a year!

johncolescarr

Hi,

Sounds like your doing everything right! Although you have 0% deals on your credit cards, you are only paying the minimum amounts. You should concentrate on paying the highest interests first, but dont forget about the credit cards and aim to get rid of the balances since you will be paying transfer fees every time you switch. Obviously clear the highest rate debt first though!

The best thing you can do is to reduce your expenditure where you can, you seem to be on the best financial packages, so its really things like food bills, going out.

You are in a strong position, just keep paying off your debts! it might make you feel better and work out when you will clear all your debt if you keep paying at the rate you are, then you can shorten it when you get a pay rise/save more/boyfriend get more commission. I'm sure there's something on this site to do this

John

mel19632

Right - I have some news, I think it is good, but I will let all of you lovely people decide!

We have a new SoA......

Basically, my mum have very kindly said we can rent her house from her for her mortgage payment (£560). This is very important to us, as she was considering selling it. The reason we want to live there is because she has our cat living with her (Stevie - don't laugh!). We currently have a very elderly cat living with us (Toffee - who is 21).

Basically we can't have Stevie live with us in the flat, so the compromise was that we would rent our flat and more into her house (and she will move in with boyfriend) and everyone is happy!

Anyway... new SoA, enjoy!

Mum mortgage-560Mortgage 1-727Mortgage 2-545Maintenance-94Water-20Elec/gas-40Sky-38BT-11Life insurance (1)-15Life insurance (2)-15Cat insurance-12Car insurance-30Credit card repayment-1100Phone-35Petrol-50Food-200Travel-150TV licence-11Council tax-122Total-3775Housing benefit 1775Housing benefit 2680My income1600B/f income1000Total4055Left over280


The naughtiest thing we have on there is Sky - but my b/f would be devestated if we got rid of it.

He is very good at letting me look after the money, and doesnt spend a penny without my sayso (i am so lucky i know). He also only goes out 1/2 a month, and takes only £10 with him.

Sky is very important to him, esp. sports channels, so i feel it is the one luxury we can have.

Electric/gas and water are rough estimates at the moment, based on what mum pays, so may update them in the near future!

xxx

mel19632

i will try SoA again, it came out all funny!

Mum mortgage-560
Mortgage 1 -727
Mortgage 2 -545
Maintenance -94
Water -20
Elec/gas -40
Sky -38
BT -11
Life insurance (1) -15
Life insurance (2)-15
Cat insurance-12
Car insurance-30
Credit card repayment-1100
Phone-35
Petrol-50
Food-200
Travel-150
TV licence-11
Council tax-122

Total-3775

Housing benefit 1 775
Housing benefit 2 680
My income 1600
B/f income 1000

Total 4055
Left over 280

Thought i might also explain that HB is not ours - its from the houses we rent out to the council.

Also, we are paying mum mortgage because we are living at her house, and renting out ours to save money (see LONG note above)