want to join the DFW crowd

debtnomore_2

Well im glad I have found this site, nice to be with a majority for once sorry to everyone else with debt but you know the slight relieve when you first stumbled across this site.

I don’t feel that I need to justify my debt as nearly everyone get into debt due to some reason or situation, and it has happened so I need to deal with it so straight onto it.



Anyway here goes, be interested to hear what you think.

All figures given are monthly.


My Income -

income ( can be higher if I work extra hours) on average £734 weekly take home

Extra income from second job £640


TOTAL £3576


Outgoings

TV lic £11.37 (but paid yearly)

Sky / Internet / phone £30.55

BT line rental £11

Elec £35

Car Ins £40

House Ins £11

Water Rates £52

Mobile OH £20

Mobile mine £40

Petrol £400 (I drive a 140mile round trip to work everyday L )


Mortgage £679

Groceries £300

Council tax £86



The debts I am trying to clear clearing are

Have cleared my £2000 overdraft as of Monday J so things should be on the up and can get back to paying debts.

Loan £259 will be cleared in 4 years time.

RBS £185, owe £7100 5.9% Life of the balance

tesco £93 owe £3100 16%apr they have offered 5.9 life of the balance if I can do a shuffle

virgin (evil con card 0% for 12months then 30% evil people) £104, owe £4500 currentley trying to transfer and cancel !!!!

HSBC card £56 owe £2900 14.4%apr (note to self have paid this card of 3 times already and have still not learnt!)


TOTAL OUTGOINGS £2402.92


so basically im trying to find the best way of reducing my debt and there payments either by transfers or one big consolidation?

other ideas welcome

free4440273

^^Petrol £400 (I drive a 140mile round trip to work everyday L )

:eek:

{sorry, that's not very useful: Welcome - a very warm welcome - to DFW}

betti911

Welcome to the forum :wave: Well done in taking your 1st step :beer:

First thing I noticed about your SOA is that your mobile bill is a bit high. Any chance of trying to renegotiate your contract?

Think people will have to know a bit more about your loans etc to give you advice eg amount outstanding, interest payable.

cat4772

debtnomore wrote: »

My Income -

income ( can be higher if I work extra hours) on average £734 weekly take home

Extra income from second job £640


TOTAL £3576


Outgoings

TV lic £11.37 (but paid yearly)

Sky / Internet / phone £30.55

BT line rental £11

Elec £35

Car Ins £40

House Ins £11

Water Rates £52 (this is quite high)

Mobile OH £20

Mobile mine £40 When does the contract expire)

Petrol £400 (I drive a 140mile round trip to work everyday L )


Mortgage £679

Groceries £300 check out OS to help reduce grocery bill.

Council tax £86



The debts I am trying to clear clearing are

Have cleared my £2000 overdraft as of Monday J so things should be on the up and can get back to paying debts.:T well done

Loan £259 will be cleared in 4 years time. what apr, over how long, did you pay PPI, are you going to claim this back?

RBS £185, owe £7100 5.9% Life of the balance (is 185 the minimum payment)

tesco £93 owe £3100 16%apr they have offered 5.9 life of the balance if I can do a shuffle

virgin (evil con card 0% for 12months then 30% evil people) £104, owe £4500 currentley trying to transfer and cancel !!!!

HSBC card £56 owe £2900 14.4%apr (note to self have paid this card of 3 times already and have still not learnt!)


TOTAL OUTGOINGS £2402.92


so basically im trying to find the best way of reducing my debt and there payments either by transfers or one big consolidation?

other ideas welcome

Check out the snowball calculator at whatsthecost.com, this will show you how best to juggle your re-payments to become debt free much sooner.

check out the vouchers board, get cashback for things like insurance etc.

Others will be along that can give much more advice.

Good luck, Cat.x

Jacks_xxx

:wave: Hiya sweetie, and welcome to DFW! :wave:

Just a little clarification... (I haven't been sleeping well and my brain's a bit fuzzy.) Is the £3576 joint income and the £2402 joint outgoings?

Cheers,

Love Jacks xxx

debtnomore_2

yes this is joint outgoings and only my income as the OH is looking after our newborn:D

oh my loan is fix at 5.2% apr so i dont want to change it to be honest... unless there is cheaper loans about, but my credit score is poor due to me having an overdraft of 2k maxed since april till this week :beer: and yes i did reclaim the PPI

current debts listed are the amounts to be paid back.

unfortuantley i have 10months left on my contract, but it is my work phone which i need a lot of mintues for as im always shouting a contractors...

Jacks_xxx

Hi again hon, :hello:

I'm off out the door now, but I just wanted to post you the link to the snowball calculator. You punch in all the info about your debts and it tells you the fastest cheapest way to get clear. It's fab! We'd never have managed to pay off so much debt so quickly without it.

http://www.whatsthecost.com/snowball.aspx

Love Jacks xxx

nickelodeon

£400 is a lot to be spending on petrol! my OH has a 130 mile round trip, but luckily he has a company car with all his petrol paid, so although it is a pain it doesn't cost us.
Is moving nearer to your job an option?
Regarding the debts, I'd work out a budget taking into account all outgoings, including those yearly expenses (christmas, MOT, car service, presents, dentists etc etc!) and whatever you have left and any extra money you can make/save put towards the debt with the highest apr, then when that is gone put the money towards the debt with the next apr etc! And watch your debts reduce! Well that's the plan anyway!

QOTD

My name's QOTD and I'm an alcoholic... whoops, wrong site! :eek: But seriously it has taken me a while to own up to myself that I have a problem. Every so often I try to curb my spending but it hasn't made a dint in my actual debts. I agree with debtnomore, it is refreshing to find out that you are not the only person in this situation.

cat4772 wrote: »

Check out the snowball calculator at whatsthecost.com, this will show you how best to juggle your re-payments to become debt free much sooner.

check out the vouchers board, get cashback for things like insurance etc.

Others will be along that can give much more advice.

Good luck, Cat.x

Thank you for the advice on the snowball calculator I think this is the second way way that I will be tackling my debts, my first priority was to stop spending money where I don't need to spend it. I have already arranged to make birthday and Christmas presents where I can (I have worked out this this will cost about £5 per present plus time instead of the usual £15-£20 per present).

The OS forum has been great for ideas on the present front, and in ways to reduce my grocery bill!

I'm off now to visit the calculator to put the large scale debt into perspective and come up with a plan to be debt fee.... :j

opalfruits_2

debtnomore wrote: »

All figures given are monthly.


My Income -

income ( can be higher if I work extra hours) on average £734 weekly take home

Extra income from second job £640


TOTAL £3576

I make your calendar monthly income out at £3820, not £3576.

£734 x 52 = £38,168 yearly/12 months = £3180 + £640 = £3820.

benbenandme

If you have a newborn you are entitled to child benefit (£72 a month) ... not huge I know, but it could be another £72 towards debts