Moneysavers SOA (I need some help guys!)

Lucy1982_2

Hi Guys.

I've been using this site for a while now and feel like my priorities have changes a little recently, I've recovering from depression and have realised that there is more to life than worrying about money (which has led to me being much less stressed)

I just wondered if you would look over my current SOA and make sure I'm doing ok, I want to pay off my debts, but I also want a life so things may be slowing down for me at the moment.

So......

SOA

Income Avg: £1,114.58

Outgoings:

Rent - £207.50
Contact Lens - £10.00
RAC - £9.90 (I have high cover as a girly who travels alone)
Car Insurance - £32.38
Petrol - £80.00
Phone - £25.00
Debt - £467.34 (Amazon sales go into this)
Living allowance - £80.00 (I never seem to manage this!)
Birthdays/Xmas - £20 (will up once paid off Store card/OD)
Car - £50 (will up once paid off Store card/OD)
Internet - £12.49 (Dial up as I can't seem to get Broadband to work!)

Total - £994.61

Debts:

Lloyds TBS loan 1 - £7815.88 (APR 7.8%)
Lloyds TBS loan 2 - £482.31 (APR 16.9%)
Bed - £158.65 (APR 0%)
Style card - £125.00 (APR 24.9%) – This will be paid off at the end of the month
A and L OD - £357.71 (APR 0%, £450 limit))

I also have a Lloyds OD which is sitting at about £400 and something at the moment with an APR of 18.9%

I hate the OD and try as I might, I'm struggling with the Lloyds. My idea was to finish clearing the store card at the end of the month and then start paying £50 off the A and L OD and putting £50 into a savings account fot the Lloyds OD so I can eventually get to a situation where I can pay off some of my Lloyds OD and tranfer anything that remains into my A and L account while it's interest free. Does that make any sense?

I would love to hear some tips on budgeting as well. I just can't seem to do it, as for keeping a spending diary I'm useless and always forget to fill it in. I really want to beat my debt, but I'm struggling trying to enjoy life at the same time.

Oh and litte about me, I'm 25, still living at home hence why the bills are so cheap! I want to move out and having some savings behind me.

Thanks x

Shineyhappy

Hi Lucy,

It seems you have been a bit down recently so I hope you cheer up a bit!

Remember to go through Quidco to get RAC/AA type cover/insurances etc.

Money is not the most important thing so try not to worry too much! But if you arent already using cash back sites then get registered as loads of people are making money for nothing!

Lucy1982_2

I've already used Quidco (£22 for car insurance!! and a Drop from £700 to £400 a year!)

I love pigsback although it seems to have gone down hill recently. I know there is more to money, but I don't want to lose what I have done. This month hasn't been great as I've had Mum's birthday and a couple of other expenses have cropped up.

I'll cheer up, I just tend to get really stressed about money, which is something I am trying to break, hence the post as I would love some tips on non-stressful budgeting!

Shineyhappy

I am not so great at budgeting, so I just dont buy clothes and keep my food shopping to a minimum and avoid any oppotunity to spend!

I get very stressed about my debts too and I know it affects my sleep and mood. I try not to let it get me down, but it does and I hate being in debt, especially by so much.

I wouldnt worry too much about your SOA as it seems ok to me.

Lucy1982_2

I find it really hard and part of me feels like a complete failure because I can't manage money, but I also know that at the end of the day it will all sort itself out. I think maybe I'll feel better once the Store card has gone and I can start sorting out my OD's as they are the ones that really upsets me.

No shopping sounds interesting, problem is at the moment I am desperate for some new autumn/winter shoes. Although I have found pairs for £12, I just need to make sure that they have my size.

Shineyhappy

You are not a failure!!!

I always say that you cant expect to be good at everything!

Maybe you should get your shoes and then avoid shops unless there is something that you really need?

Lucy1982_2

I think that might be an idea.

I need to stop taking money to Sainsburys at lunchtime to. I think if I can curb my spending a little, I would feel better about it all.

gems2381

Lucy instead of buying lunch everyday really try making it yourself in the morning, it'll save you loads. And leave your purse at home so you don't get tempted to spend!

Lucy1982_2

I do make lunch at home. I tend to 'top up' at sainsburys. I'm slightly addicted to their fruit salads!! I really need to start bringing my own for mid-afternoon snack.

oliveoyl

Lucy1982 wrote: »

Debt - £467.34 (Amazon sales go into this) What's this, and is there an APR?
Living allowance - £80.00 (I never seem to manage this!)
Birthdays/Xmas - £20 (will up once paid off Store card/OD)
Car - £50 (will up once paid off Store card/OD) And this? are you saving for a car?
Internet - £12.49 (Dial up as I can't seem to get Broadband to work!)

Total - £994.61

Debts:

Lloyds TBS loan 1 - £7815.88 (APR 7.8%)
Lloyds TBS loan 2 - £482.31 (APR 16.9%)
Bed - £158.65 (APR 0%)
Style card - £125.00 (APR 24.9%) – This will be paid off at the end of the month
A and L OD - £357.71 (APR 0%, £450 limit))

I also have a Lloyds OD which is sitting at about £400 and something at the moment with an APR of 18.9%

I hate the OD and try as I might, I'm struggling with the Lloyds. My idea was to finish clearing the store card at the end of the month and then start paying £50 off the A and L OD and putting £50 into a savings account fot the Lloyds OD so I can eventually get to a situation where I can pay off some of my Lloyds OD and tranfer anything that remains into my A and L account while it's interest free. Does that make any sense? No, ha ha. Pay off the store card (I assume that's the Style card mentioned above), then pay the £50 a month off the Lloyds OD, or more if you can afford it. As A+L OD is on 0%, there is no reason to clear it, as long as you don't go over limit. Once you've paid Lloyds OD, if you can't overpay on the loans (which you probably can't, they will most likely have early repayment charges), and as long as A+L OD is still interest free and you have nothing else outstanding that's charging you interest, start your savings in an ISA

Hope that helps

gems2381

Lucy1982 wrote: »

I do make lunch at home. I tend to 'top up' at sainsburys. I'm slightly addicted to their fruit salads!! I really need to start bringing my own for mid-afternoon snack.

When you make lunch at home make your own fruit salad too it'll be fresher than a shop bought one and miles cheaper.