Realisation and action.

Submerged

Hi there, been putting this off for a good few months whilst browsing this forum.

Realised something needs to be done.

This is how i stood.

£1000 months income.

£170 a month car loan, CLEARED
£15 a month CC , CLEARED
£105 a month van loan.
£175 a month new car loan.
£40 a month phone bill
£68 a month car insurance DROPPING TO £40 IN FEB
£100 a month rent to mum.

At the moment i pay.

£100 to mum
£105 to pay for work van
£175 for car
£68 insurance for car
£40 phone bill

The car insurance is dropping to £40 in february and my van loan is £105 a month, it has £3500 to clear on it, was a 5k loan over 5 years. its at £3500 1 year in, hopefully cleared by summer 08.

Also looking to deliver chinese food a few evenings a week, offering 40-50 pounds extra cash a week. Will take me to earning £1200 ish a month and paying out £488 (till feb, then ittl be £440), really hope i can pay off van loan soon.

Just feel like to sort my problem i need to shaire it.

Advice welcomed, thanks.

Kevicho

Just a point about the delivery, will theybe paying for petrol? If not you need to make sure you are making a profit to make it worth your time.

Other than that might be worth posting your SOA here so we can see if we can help cut your outgoings

See the sticky for link to first time posters post

Submerged

Thanks for the reply, the chinese delivery works like this.

£5 an hour, wether you sit on your bum, or deliver.
£1 per drop for petrol, bearing in mind where i live, to the other side of town and back is only like 1 mile thats ample.

Plus tips, which when i have done it before i was taking about £30 a night.

So yes petrol is payed for.

beanielou

Why do you have a van loan & a car loan as well?

Submerged

Because i cant use a 3.5tonne sprinter for everyday living. It was a van i used with my past job, sold the van for 3k and used it to pay off debt, but have a small remainder of that loan to pay. But whilst doing that other job i needed a car to live with.