£29,303...Enough is enough!

hugglemonster

Thinking of you @WelshKitty85 hoping the new year is finding you well.

H x 

Humdinger1

Yes hope you're OK @WelshKitty85.  So many of us have been in this position and I can promise you, it gets better and there is life on the other side. Onwards and upwards love Humdinger xx 

savingholmes

Thinking of you too. 

WelshKitty85

Thank you all for checking in. I can’t begin to tell you what DH has done, but he has completely betrayed the whole family and we’re still picking up the pieces. I’m not sad about the relationship being over, just the damage he’s caused. I’ve actually met someone else (it’s really soon, I know! and I’ve already had the conversation with him about needing to take it slowly) but he’s so lovely and has made me realise how much of a mug I’ve been over the last 10+ years.

I’ll be back with a financial update soon.

amber03

Glad to glad to hear you are ok. Take thing easy, don’t rush anything and remember to put yourself first and do what you want.xx

WelshKitty85

Statement of Affairs and Personal Balance Sheet

Household Information

Number of adults in household........... 1

Number of children in household......... 3

Number of cars owned.................... 1

Monthly Income Details

Monthly income after tax................ 1513.78

Partners monthly income after tax....... 0

Benefits................................ 277.06

Other income............................ 202.8[b]

Total monthly income.................... 1993.64

Monthly Expense Details

Mortgage................................ 1189

Secured/HP loan repayments.............. 0

Rent.................................... 0

Management charge (leasehold property).. 0

Council tax............................. 200

Electricity............................. 137

Gas..................................... 0

Oil..................................... 0

Water rates............................. 14

Telephone (land line)................... 0

Mobile phone............................ 47.64

TV Licence.............................. 0

Satellite/Cable TV...................... 0

Internet Services....................... 20

Groceries etc. ......................... 250

Clothing................................ 0

Petrol/diesel........................... 80

Road tax................................ 2.5

Car Insurance........................... 17

Car maintenance (including MOT)......... 10

Car parking............................. 0

Other travel............................ 0

Childcare/nursery....................... 0

Other child related expenses............ 0

Medical (prescriptions, dentist etc).... 0

Pet insurance/vet bills................. 12.44

Buildings insurance..................... 10

Contents insurance...................... 0

Life assurance ......................... 12

Other insurance......................... 0

Presents (birthday, christmas etc)...... 50.00

Haircuts................................ 10

Entertainment........................... 0

Holiday................................. 0

Emergency fund.......................... 50

Total monthly expenses.................. 2111.58

Assets

Cash.................................... 5989.67

House value (Gross)..................... 375000

Shares and bonds........................ 0

Car(s).................................. 12000

Other assets............................ 0

Total Assets............................ 392989.67

Secured & HP Debts[/b]

Description....................Debt......Monthly...APR

Mortgage...................... 276769...(1189).....2.14[b]

Total secured & HP debts...... 276769....-.........-   [/b]

[b]Unsecured Debts[/b]

Description....................Debt......Monthly...APR

FD Loan........................14985.3...262.9.....4.5

CC.............................8835.53...88.36.....0[b]

Total unsecured debts..........23820.83..351.26....-  [/b]

[b]

Monthly Budget Summary[/b]

Total monthly income.................... 1,993.64

Expenses (including HP & secured debts). 2,111.58

Available for debt repayments........... -117.94

Monthly UNsecured debt repayments....... 351.26[b]

Amount short for making debt repayments. -469.2[/b]

[b]Personal Balance Sheet Summary[/b]

Total assets (things you own)........... 392,989.67

Total HP & Secured debt................. -276,769

Total Unsecured debt.................... -23,820.83[b]

Net Assets.............................. 92,399.84

WelshKitty85

Updated SOA above. A few points:

• I have only included the salary from my office job as income, not self-employed income which is unpredictable at present
• The CC is ex's but he's not in a position to pay it so my solicitor has advised me to make the minimum payments until the divorce/finances/house ownership is finalised

WelshKitty85

So, on paper, things look pretty dire at the moment. My wages don't cover my outgoings and my mortgage deal is up next month and looks like it will go up by at least £200. However, I'm not panicking yet. I'm still off sick from my office job just now so have been able to spend some time assessing my self-employed businesses. I've invested in a business coach and have also been doing some work on my mental wellbeing and money mindset. I've set myself a target of earning an additional £18,000 this year, which works out to £1,500 per month. In January I managed £882.54, and that was after a slow start to the month, so I think it's doable. I'm shifting my mindset from focusing on cutting back to focusing on upping my income and reaching a point of 'overflow', where I earn enough to pay off my debt, service my lifestyle, and save.

Humdinger1

You will do it @WelshKitty85 and in style! I've been through this, am out the other side, happy and solvent. If I can do it, so can you.  Love Humdinger xx 

mumtoomany

Hi, @WelshKitty85. Sorry to hear you're going through a bad time. Have you checked to see it there are any more benefits that you might be entitled to? Even if only until the self employed business gets going. Have you remembered to tell the council there is only one adult in the house, therefore council tax will be reduced? I'm sure you'll come out of the other side of this happier and healthier. Hugs, mumtoomany.xxx