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Making a start for 2018

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 :o

Replies

  • 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
  • Purplemumof2Purplemumof2 Forumite
    7.9K Posts
    Part of the Furniture 1,000 Posts Name Dropper I've been Money Tipped!
    Forumite
    Good luck on your journey x
    Official DFW Nerd Club - Member no. 791 - Proud to be dealing with my debts
    BC: £5000.00 - Lloyds: £5590.00
    Xmas Pot £535/£700 ~ EF £621/1000
    PAYDBX 2021 - #? £0 / £2,000
  • beanieloubeanielou Forumite
    82.2K Posts
    Part of the Furniture 10,000 Posts Mortgage-free Glee! Name Dropper
    Forumite
    Happy shiny new diary :)
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~**
    MFW. Finally mortgage free February 2021****
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger. ***Be the difference.***
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