Making a start for 2018 22 October 2018 at 12:09PM in Debt free diaries 3 replies 338 views

MissL89

Hello,

My job ended several months ago and as I had savings in the bank, I didn't think it was a big deal. I have had a few interviews lately so I hope it won't be too much longer.
I had recently bought a house and I was in the middle of refurbishing it and thought it would give me some time to get on with it!
However, the house has come into lots of problems and it has cost a lot more than I had originally planned so the money has ran out a lot quicker than expected. The mortgage as of today stands at £142,497.

My plan now obviously is to find a job as quickly as possible whilst still working on the house so it doesn't look like so much of a builders site

I've never really been in debt apart from the last few years as I have moved quite a bit so this is starting to become slightly scary as at the moment I feel pretty trapped.

Ive done a SOA below. It is not complete as it includes only the things I pay for, plus my partners half of the Mortgage and Council tax that is sent to me.

The credit card stands at just over 2k at the moment but I just is due to increase in the next couple of weeks by 1.5k due to more work needed to be paid for house wise.
I guess the diary is just to track things and make sure I'm moving closer to zero slightly

MissL89

Statement of Affairs and Personal Balance Sheet

Household Information[/b]
Number of adults in household........... 2
Number of children in household.........
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 400
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 400

Monthly Expense Details
Mortgage................................ 620.4
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 101
Electricity............................. 28
Gas..................................... 0
Oil..................................... 0
Water rates............................. 10
Telephone (land line)................... 0
Mobile phone............................ 22.88
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 5.99
Groceries etc. ......................... 100
Clothing................................ 0
Petrol/diesel........................... 60
Road tax................................ 26.68
Car Insurance........................... 50
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 8
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1032.95


Assets
Cash.................................... 0
House value (Gross)..................... 250000
Shares and bonds........................ 0
Car(s).................................. 800
Other assets............................ 0
Total Assets............................ 250800


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 142497...(620.4)....1.44
Total secured & HP debts...... 142497....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Cc1............................2123......45........0
Total unsecured debts..........2123......45........-


Monthly Budget Summary
Total monthly income.................... 400
Expenses (including HP & secured debts). 1,032.95
Available for debt repayments........... -632.95
Monthly UNsecured debt repayments....... 45
Amount short for making debt repayments. -677.95

Personal Balance Sheet Summary
Total assets (things you own)........... 250,800
Total HP & Secured debt................. -142,497
Total Unsecured debt.................... -2,123
Net Assets.............................. 106,180

Purplemumof2

Good luck on your journey x

beanielou

Happy shiny new diary