£15,129 High Interest

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Wow Scottish Power hit me with a big old bill today. Considering the heating hasn't been used in July it is weird to see it go from about £60 a month to £92!!!! Calling them today to find out why and to get some credit.

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So after last weekends £120 spend and full of regrets, I have this weekend spent £38 on food to last until Tuesday and booze which should last this weekend AND next weekend. Which would be a real win. I just need to keep off the takeaways, stick to what I have planned for this weekend and it will be a hell of a turn around.

enthusiasticsaver

Hope you can make this weekend cheaper than last. I think if I were you I would limit the food shops to 1 or 2 a week even if you cannot get 50% sticker food. It is more tempting to add unnecessary food and drink the more often you go. Just meal plan for the week.

enthusiasticsaver

All the interest rates on those debts are awful. Also what are home costs? Is that rent? Also surely if insurance is needed for your mums ipad then she should pay for it? The loan is really expensive and I think I would save as much as possible to get that cleared early.

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enthusiasticsaver wrote: »

All the interest rates on those debts are awful. Also what are home costs? Is that rent? Also surely if insurance is needed for your mums ipad then she should pay for it? The loan is really expensive and I think I would save as much as possible to get that cleared early.

Yes I will just cancel the insurance. Was the only time I have ever taken one out so serves me right.

Yes the interest rates are horrific and sadly it was the vicious circle of not being able to get low % rates and now not being able to move them to better.

The loan I put at £8712 but it is actually currently £5038. I was unsure of what I should put the loan amount at. What it will cost or what it is currently at. So you are 100% I need to purge that one and make over payments each month.

I am very confident by using this forum and tracking my spend I can find another £350-£550 a month to over pay my debt. I just need to be careful as I need to save for my tax which I have not done so far this year. Essentially by Jan 31st I will need about £10k for that.

So I have a lot of less spending, saving and paying off debt to do in the next 6 months. I am also hopeful my commission will help me ride this out. My income is £3500 which would mean in the next 6 paydays I will bring in £21,000. I will also aim to bring a further £9000 in on comms. A total of £30,000 in 6 months.

Looking at expenditure this would be the breakdown of where that would go:

Total monthly living costs inc debt payments: £2000PM/£12,000/6M
Tax Savings £1666/PM £10,000/6M
Debt overpayments: £1000PM £6000/6M

THIS is however if I can hit targets and keep my job until then.

wish me luck

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No takeaways last night and no further money spent.

So far so good.