Newbie! Aiming to reduce+clear debts (SOA inc)

david_hellier

Hi and thanks for supplying us with the further information.

According to my figures you have £91.50 per week to spend on food and anything else. I sugget you write this amount in a little note book (a spending diary) on a Monday and keep a record of what you spend/withdraw by subtraction and keep a balance. If you do have any over the following Sunday, carry it forward to the next £91.50. It is important you do not spend any more than this per week or you will be getting deeper in debt.

Set up SOs not DDs to pay off the ODs and CCs and do not use credit cards for any more purchases; cut them up. Use only a debit card, keeping a record in your book. In my figures I have assumed £150 per year car tax. You are not in a position to give to charity, so I have excluded the NSPCC donation.

Good luck, the figures:

incomeweeklymonthlyself £ 2,000.00 partner total0.002000.00divide by 4.33 £ 461.54 £ 461.54 total weekly incomespendweeklymonthlyrent/mortgage £ 709.00 council tax £ 125.00 elec £ 42.00 gas £ 20.00 water £ 21.00 secured loans £ - TV licence £ 12.00 fines £ - virgin £ 70.00 pet £ 13.00 home ins £ 21.00 life 1 £ 12.00 life 2 £ 10.00 car ins £ 32.00 red ins 1 £ 19.00 red ins 2 £ 13.00 fridge £ 6.00 cc1 £ 26.00 cc2 £ 25.00 car loan £ 100.00 gym £ 12.00 bank fee £ 10.00 lloyds loan £ 40.00 course £ 60.00 mags £ 3.00 cata £ 5.00 petrol £ 120.00 od1 £ 10.00 od2 £ 15.00 od3 £ 20.00 od4 £ 20.00 car tax £ 12.50 total0.00 £ 1,603.50 divide by 4.33 £ 370.04 £ 370.04 total weekly spendStart= income - spend = £ 91.50 per week