£15,000 to 0

Silver_Queen

It's March already!

Ignoring the elephant in the room which is the major political event due to take place at the end of the month....

Quick debt round up

March 2019
1. Parents Loan £7,750
2. Barclaycard £1,396.76
4. My sister kindly reminded me that I actually owe her £4,500 from the stupidity of my younger university days when my loan didn't cover my rent despite living in the cheapest mould-ridden !!!!hole I could find and I still wanted to go out every night, smoked and was a very generous drunk...She's not actually fussed about getting this back at all but I will work it in somehow. It just goes up and up! Need to take stock and decide what I'm going to do with this. For the record, I no longer smoke and drink very moderately!

Total: £9,146.76 (or £13,646.76?)

Silver_Queen

I've been offered £35,000, which, for my field, is a pittance. Especially considering that I will essentially take on a managerial role in all but name. I've decided to start looking elsewhere.

Homegrown0

I think that's a brave but smart thing to do Silver. The longer you 'let' them take advantage, the longer they will keep doing it.

I also don't think there's anything wrong with letting them know that you'll be looking elsewhere on the basis of them underpaying you.

What a disappointment but glad you're taking action!

Silver_Queen

Homegrown0 wrote: »

I think that's a brave but smart thing to do Silver. The longer you 'let' them take advantage, the longer they will keep doing it.

I also don't think there's anything wrong with letting them know that you'll be looking elsewhere on the basis of them underpaying you.

What a disappointment but glad you're taking action!

Thanks, I really appreciate that. It makes me feel better that other people are agreeing with me!

I don't want to sound ungrateful because I know that £35k is not a small amount by anybody's definition, but the amount of training, the cost of the qualification, the stress and liability just isn't worth it for that amount, especially when everyone else pays £15k+ more for less responsibility.

Silver_Queen

Anyway. Onwards and upwards. To be honest, I have been feeling a bit downtrodden lately and haven't kept my eye on the budget properly.

Not sure what's happening with the money that my sister reminded me that I owed her. My plan for now is to treat it as debt into a separate account of mine, so that I can pay her a lump sum if she wants it. She doesn't need the money and hasn't asked for it for now but I'd rather have it to give back to her if she does want it, as it's not a small sum and it isn't fair for her to just have to write it off.

Meaning my debt is back up to £13,500ish...it really is a yoyo. How depressing!

I also put a payment of £500ish on my CC for something I bought for my parents, I should get the money back by the end of the month. I have the money in a saver to cover the payments but since the CC is 0% and the money in my account is earning interest....

Just over a week to go until payday, counting down the days!

Silver_Queen

Long time no post.

Having come back from my big holiday and having received some unwelcome news about my job and OH's job (which I won't go into here), I'm ready to buckle down again.

I now have a grasp on how much I will actually get paid from now on out so will work from that. it works out as less than I thought, because of pension contributions etc but I'm not willing to stop them so will take it as is. Daily living wise, it's definitely more than enough but has impacted how soon I thought I could buy my own place.

I decided to start paying my sister back the £5k I mentioned, so that's dented the plan a bit. I've also taken up some exercise classes, which are expensive but have done absolute wonders for my physical and mental health. I have also been concentrating on eating better, with better quality and higher welfare food. My OH makes around £20k so he has been helping me reign it in, but I have also been paying for some activities that we couldn't do before for monetary constraints. For personal reasons, this will continue and I'm happy to do it.

There have been a lot of fluctuations on the numbers below and I'm sure it'll continue to fluctuate, but here's the situation right now.
Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 0
Number of cars owned.................... 0

Monthly Income Details
Monthly income after tax................ 2090
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2090

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 400
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 55
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 120
Clothing................................ 10
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 200
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 100
Haircuts................................ 5
Entertainment........................... 100
Holiday................................. 20
Emergency fund.......................... 0
Gym..................................... 37.5
Total monthly expenses.................. 1047.5


Assets
Cash.................................... 5380
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 5000

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
Parents Loan...................7000......250.......0
Sister Loan....................3000......500.......0
Barclaycard....................995.......165.......0
Total unsecured debts..........10995.....915.......-


Monthly Budget Summary
Total monthly income.................... 2,090
Expenses (including HP & secured debts). 1,047.5
Available for debt repayments........... 1,042.5
Monthly UNsecured debt repayments....... 915
Amount left after debt repayments....... 127.5

Personal Balance Sheet Summary
Total assets (things you own)........... 5,380
Total HP & Secured debt................. -0
Total Unsecured debt.................... -10,995
Net Assets.............................. -5,995

Created using the SOA calculator at https://www.stoozing.com.
Reproduced on Moneysavingexpert with permission, using other browser.

A few expenses have dented my account, such as a new laptop after mine inexplicably and unexpectedly died in December. I'd been making do but given my line of work, it was a matter of time before I had to get a new one.

We went on a walking holiday in the UK in May, and it was much more expensive than we expected. This is why we always holiday abroad! :rotfl: Anyway, we haven't got anything booked at the moment, although we will be going camping with family in August and most likely will take another short European break at the end of September, as is tradition! The camping site for August has already been booked by family member and we will contribute £18 for it. We already have all the equipment so it should be relatively cheap.

I'm fairly happy with where my SOA sits at the moment. I know that the gym cost is high but I'm fine with it, it has been getting me fitter and has actually significantly reduced my entertainment spend every month. Just ticking along every month now.

Silver_Queen

A dramatic month payments wise, I decided to try to challenge myself!

Paid off £800 on my 0% card, £500 to sister and £300 to parental loan. Total paid this month £1,600, and it's only the beginning of the month!!

It will be a little bit of a stretch but nothing that I can't handle.

Annoyingly though, I forgot that my DD for my credit card would still get taken even though I've cleared the balance. The card now has a £165 positive balance and my current account has a squeaky £11.52 in it... Payday was only Friday...it's OK though, I will just use my CC this month in place of my debit card so that I use up the £165 positive balance.

Everything is very up in the air at the moment. I want to buy a property but am not sure how secure my job is anymore so I'm holding off. I've been invited to the second stage on a job I applied for, so it will be interesting to see how that pans out. If I get this job, it comes with a £15k pay rise and an extra 18% match on my pension.

My OH now owes me £900 and is steadily paying it off monthly. We have a new active hobby now, which I won't expand on because it's quite niche and might "expose" me. I'm really excited about it because it's helping me get serious with the weight too. Downside is, it's expensive! I estimate it will cost me anywhere between £50-£100 per month.

I'm still continuing with the gym that I mentioned in my last post, loving that too!

My available "cash" has dramatically depleted and to be honest, I'm not ENTIRELY sure where it's gone...cash now stands at roughly £4900. I think most of it has gone on new-hobby-gear. I spent roughly £300 on that in June. It won't be so expensive going forward though.

Sometimes I feel like I'm posting in an echo chamber on here...but it does help keep me accountable!

[Deleted User]

That's a huge amount to pay off in one month - well done !

redofromstart

It all sounds exciting and some great progress, although I think the idea of £11.52 in the current account would stress me a lot.

Hope the job thing goes well.

Silver_Queen

Thank you both! Your kind words are very appreciated

In terms of the £11.52, I'm not too worried because around £300 of the "cash" part of my SOA is in an easy access account, so I can always pinch from there if I need to. If things get really dire, I have about $450 USD floating around, which I can exchange for £ if I need to, but I'm not planning to.