A newbies SOA

debtfreefuture

I have been lurking on this site for 18 months – never posted. I get so much inspiration from you all.:A (Thanks) HOWEVER my debt has not gone down in this time (Hasn’t gone up though!)
I really need to knuckle down. I want to be debt free in 22 months. Is this ‘do able’ ?

I live with my husband. He earns good money - £2800 nett per month. However he has severe addictions. He pays the mortgage - £1200 per month. Please don’t suggest that he pays anything else / see anyone (he says he hasn’t a problem !) I don’t want to go down that road at the moment.

Here is my SOA:

My take home wages £1100

OUTGOINGS (monthly unless otherwise stated!)
Council Tax £140
Gas £40
Electric £40
Phone / Internet £35
Mobile £20
Building/contents Insurance £30
Life Assurance £78
Contact lenses £22
Denplan £20
Water – 1 £22.54
Water – 2 £82 per year
Extra car for all kitchen appliances £5
TV Licence £11.37
Sky £43.50
Car Insurance £15.54
Car Tax £15
Haircut £36 - 6 weekly
Leg wax £18 – 6 weekly
Food £200

DEBTS:eek:

Barclaycard £1100 (at limit) 29.9% apr
Next £1278 (limit is £3500) Not sure of interest rate - will find out
Capital One £1724 (at limit) 24% apr
Aqua £1250 (at limit) 35.95% apr
Egg Loan £5513 7.5%apr
Bank overdraft £1927 (at limit)

Squirrel29

Hi, bit confused by the water ... why are there two amounts? Could you also cut down on sky package, I just pay £21 per month and find it has plenty of channels, if I want to see movies I do Sky Box Office and find this ok.

Also may be good idea to put the APRs + credit limits for your debts. Have you done snowball on https://www.whatsthecost.com?

I don't mean to lecture and please don't take it the wrong way but I don't see how you can attempt to get finances straight when money is pouring out on drugs/alcohol/gambling. In my job I meet alcoholics and drug addicts every day, it causes so much misery for the user and their family and there usually comes a time when they cannot be financed by legal means any longer, then it is a downward spiral.

Please get advice for how to deal with this by contacting a support group, even if your OH cannot deal with this himself now.. you will get invaluable help for your own sanity. xxx

millionaire_in_training

OUTGOINGS (monthly unless otherwise stated!)
Council Tax £140
Gas £40
Electric £40
Phone / Internet £35 you can probably get this cheaper
Mobile £20
Building/contents Insurance £30 probably get this cheaper
Life Assurance £78 wow!!
Contact lenses £22
Denplan £20
Water – 1 £22.54
Water – 2 £82 per year
Extra car for all kitchen appliances £5?? whats this
TV Licence £11.37
Sky £43.50 necessary?
Car Insurance £15.54
Car Tax £15
Haircut £36 - 6 weekly Quite expensive- can you cut it down
Leg wax £18 – 6 weekly shave??
Food £200

Don't know if thats any help but you are paying over the odds for a few things. xx

debtfreefuture

Thanks to you both.
Water Rates = sewerage and water supply
Life assurance is for £200,000 for joint lives. (Covers outstanding mortgage)We are both nearing 50!
Gonna start shaving my legs!
Extra CARE cover is for dishwasher/tumble dryer/fridge freezer/washing machine/cooker/ breakdown (all built in to kitchen)
I need to look into changing internet phone. Not quite sure how easy is is to set it all up though.?

GettingThingsDone

Hi dff! Welcome to posting - much better than lurking

Sorry, but I have to echo what Squirrel29 says..

I don't mean to lecture and please don't take it the wrong way but I don't see how you can attempt to get finances straight when money is pouring out on drugs/alcohol/gambling. In my job I meet alcoholics and drug addicts every day, it causes so much misery for the user and their family and there usually comes a time when they cannot be financed by legal means any longer, then it is a downward spiral.

Please get advice for how to deal with this by contacting a support group, even if your OH cannot deal with this himself now.. you will get invaluable help for your own sanity. xxx

Crunch your numbers in the snowball calculator, and then add on £1600 that OH could pay and see that DFD zoom into view.

I know it's not what you want to hear, but it sticks out like a sore thumb and it's only cos we care

gtd

debtfreefuture

I have amended my SOA to include limits / APR's

debtfreefuture

GettingThingsDone wrote: »

and then add on £1600 that OH could pay and see that DFD zoom into view.

gtd

He refuses to pay any more? Thats why I say it's not an option. Sorry for sounding so defeated. I know you are only trying to help. I just need to sort things on these figures.

GettingThingsDone

hi dff - you will get there!

do you have anything you could ebay? anything that could get you more money in?

gtd

hellocarolina

debtfreefuture wrote: »

He refuses to pay any more? Thats why I say it's not an option. Sorry for sounding so defeated. I know you are only trying to help. I just need to sort things on these figures.

Hello Debtfreefuture

I'm pretty new to this, but I thought I'd have a go - I hope you don't mind!

1. contact lenses - get your prescription from your optician then buy them online - it's much cheaper. For what you're paying per month, you could get a three month supply. Try Asda's website.

2. Haircuts/Waxing - I know how important it is to keep something for yourself. Have you checked out local colleges? They often have training sessions - your local salon may have a training night with reduced prices.

3. Food - £200 per month *could* be cut - I cook for me and my OH on about £25 per week (that includes all household cleaning products and cat food too, but we don't eat that ). I was spending the same as you, but now I do a meal plan each week, and it's amazing how much it helps.

Good luck x

Squirrel29

hellocarolina wrote: »

Hello Debtfreefuture

3. Food - £200 per month *could* be cut - I cook for me and my OH on about £25 per week (that includes all household cleaning products and cat food too, but we don't eat that ).

Perhaps you should aquire a taste for the catfood, stick a few herbs on.. you could get food bill down to £5 per week :rolleyes:

hellocarolina

Squirrel29 wrote: »

Perhaps you should aquire a taste for the catfood, stick a few herbs on.. you could get food bill down to £5 per week :rolleyes:

Relatively, I think it works out more expensive! (We're veggie and the cat is not).

I weigh approx 20 times more than my cat, and it costs £2.50 to feed her for a week, so if I ate the human sized equivalent of her meals, it'd cost £50 per week! And imagine the state of the litter tray :eek:

Sorry, I think I got a bit carried away there :rolleyes: