My first step

Justin_GB

Hi,
First I would like to thank everyone for taking the time to look at my post and make suggestions.

Yes you are all spot on electricity is FAR too high, this is electricity for both business and own use, the thing is the business only uses one PC and a couple of low wattage lights. What the big problem is, is the power company treat both the business and house as one they charge much higher standard charge and KWH rate than for a house, and there is no way around it. Having said that we will be doing all we can to cut this down, we have changed ALL lamps to green and are being far more careful with switching off lights, we have NO heating and the only heat we have is from burning wood found when out walking.

Phone, yes this is both mobile and land line and some is for business, again the business line is more expensive £45 a quarter. We cap our calls at 10p and 25p for up to an hour. We will be reducing this over the next few weeks.

The petrol should read car running costs, and includes servicing.

Life insurance, yes this is for the mortgage, I thought this was low?

Home insurance, sorry this is ALL our house/business insurance costs, for the home and contents is is about £5 a month £60 a year, but nothing for next year :j


I am sorry if my SOA was misleading, this is not easy being SE it is so difficult splitting the spend.

Yes as soon as we can find a few pennies we shall be paying off the high interest CC next.

Justin_GB

Good morning. First thing this morning we looked around the house for every piece of metal and wire we could find and weighed it all in at the local scrap metal yard, and came away with £40 !

Question, how do we spend it, we haven't got one penny apart from this to our name, no we have 60p until our weekly allowance next Wednesday, should we keep the £40 or pay back some of a credit card, if so which one.

Ideas please.

We are starting our £5 a day challenge today we are going to try to make £5 a day selling off unused stuff in the attic.

tealady

Have you looked at the store cupboard challenges? That might give you some ideas.

4littleone

Hi,
another thought for the future is to get rid of the sky and have a free view box. You can listen to sports on the radio rather than watch them. A free view box costs around £30 so it's paid for itself after 2 months.

The other question is, are you claiming the tax allowances for the business use of the phone etc?

Justin_GB

Hi Cupboard challenge look a good idea we shall make a list.

We thought about the freeview idea, but the reception in our area even with a good aerial will not support it, others around us have tried it but no joy and gone back to Sky, maybe we should ditch TV altogether it will save electricity as well?

Yes we claim Tax allowances for phone use, the mobile phones are to go, even if they are pay as you go the temptation to use then still remains.

How should we spend the £40.:rolleyes:

brummiebabe

Hi Justin

I would keep the £40 back as an emergeny fund until you get your weekly allowance. Obviously try to spend as little as possible -whatever is left afterwards - pay it off the highest APR CC!! It'll all help!!

In my experience, it's when you have ABSOLUTELY no money that those little 'emergencies' arise - better to have it available than having to use your credit card again!! Surely 1 week won't make too much difference??

saver03

Just really wanted to say hi and let you know that you have definately come to the right place for help. There are so many people on here, all better qualified than me, that will be able to offer you help and advice. Everyone is so nice and non judgemental it makes a change to talk to people who don't react :eek: when you tell them what you owe!!

Have you used the snowball calculator? It will help you decide which cards to pay off first and gives you an idea of when you will be debt free based on you interest and the amount you can comfortably pay each month. You should make sure you cut up your cards and cancel them if you have not done so already.

Alos, a few of my ideas. (please feel free to ignore if I repeat or my suggestions are useless!!!)

Mortgage/Rent - £166.19
Council Tax - £58.57
Water £31.05That seems a bit hight to me as we only pay £15.66! Are you on a meter?
Gas - 0 no Gas Supply
Electric - £90Again it is high is there anyway you can change providers? Look on quidco you may even get cashback
TV License - £11.30
Sky £15.00Do you think you could like without this and just get freeview? Also, seems a bit high as we are with vigin and get phone, broadband and all tv channels except movies and sports for £30
Phone - £50Again too high go on quido and compare tariffs and also get cashback
Food - £120Is this for only 2 people? Go on oldstyle board and get some good yet cheap recipes also don't be afraid to buy supermarkets own brand!!
Car Insurance - £31.86
Petrol - £80Check www.petrolprices.com for best deals on fuel in your area
Life Insurance £31.28
House Insurance £40.95
Total: £614.34

Good luck with everything.:dance:

peb

So far as the £40 is concerned keep it until your next allowance is due in case of emergency! try not to touch it and if you can, yes, pay it off Barclaycard. You may need more than that 60p!

Justin_GB

I may have another £12,000 debt to add to my total, and a default notice against my credit record. OK I took out a loan £8000 but thought better of it and asked my bank to return the cheque to the loan company, but they did not they cashed the cheque through there system and reissued a new cheque and sent this cheque to the loan company. The loan company say they have received the cheque but can not find it or what account it has been put into. I now have the loan company writing to me saying that I have defaulted on my payment. Now I am getting really worried I have no way of paying this back and I could be in real trouble.:(

Shineyhappy

If the loan company say they have received and cashed the cheque then surely it is their problem and not yours?

Maybe you should ask Barclays bank to contact the loan company with the cheque number and the date it was cashed?