Slowly but surely, rushing gets us nowhere

Wonky_Teacup

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Choccygirl123

Just love your diary title, slow and steady is definitely the route we're taking.

I can't offer much advice, but how long are you on your mobile contracts? When it's time to renew barter and try re-use your current handset.

Good luck on your journey wonky x

ratrace

Hi welcome



Just a few things that stand out tome staright away, Are you really paying £20 a month on the gas and electric and you have nothing for haircuts, aldo what about household cleaning products or are they included in your shop



i have used muscle food in the past the meat from there is really good but prices have gone up a little now so i have stopped buying fornow and justuse a local butcher

enthusiasticsaver

Wonky_Teacup wrote: »

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 0
Number of cars owned.................... 0

Monthly Income Details
Monthly income after tax................ 0
Partners monthly income after tax....... 1641
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1641

Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 338
Management charge (leasehold property).. 0
Council tax............................. 95
Electricity............................. 10
Gas..................................... 10
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 90
TV Licence.............................. 15
Satellite/Cable TV...................... 0
Internet Services....................... 38
Groceries etc. ......................... 321
Clothing................................ 5
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
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..................... 0
Contents insurance...................... 17
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 5
Haircuts................................ 0
Entertainment........................... 73
Holiday................................. 0
Emergency fund.......................... 60
Total monthly expenses.................. 1077


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

No Secured nor Hire Purchase Debts

Unsecured Debts
Description....................Debt......Monthly...APR
O/D............................1200......100.......0
Loan...........................12000.....231.......12
Sofa...........................1056......22........0
Total unsecured debts..........14256.....353.......-


Monthly Budget Summary
Total monthly income.................... 1,641
Expenses (including HP & secured debts). 1,077
Available for debt repayments........... 564
Monthly UNsecured debt repayments....... 353
Amount left after debt repayments....... 211

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -14,256
Net Assets.............................. -14,256

Higher than average on your soa is your groceries (probably because of the extra meat), mobile costs and internet services and contents insurance. Those could mean some savings depending on circumstances.

Lower than average is gifts, haircuts, electricity and gas and holidays. Do you never do holidays or weekends away?


I would tackle the overdraft first as that can be withdrawn with no notice. I would also build up your emergency fund as presumably you have not been saving £60 a month as you have nothing in assets? Then overpay the loan. Consolidating debt usually means a more expensive and protracted way of clearing debt but thankfully you don't have masses of credit cards so hopefully that has not been the case with you. Is your health still too bad for you to work and do you not qualify for any health related benefits still?

beanielou

Happy shiny new diary.

Another vote to try & get rid of the OD as soon as you can.
Anything you can sell to help you to chip away?

WannabeFree

Look forward to following

x

enthusiasticsaver

Sounds like a good plan to split any spare money between loan overpayments and savings. 50/50 would be best I think

Aaleigha

I hope you have had a fairly painfree day regarding the shingles - and a good day all round xx

joedenise

Wonky Teacup you can use the universal filters than Mr T or As*a sell as they are the same as the Brita ones but very much cheaper. (but not if you have the Brita Mantra) I think they were £7.50 for a box of 3 so half the price of the branded ones.

Denise

Aaleigha

thank you christmas was that we could expect being surrounded by moving boxes daughter and I did a shared meal at her house

Being very careful about expensive purchases - this is something I need to be aware of - we are moving soon and the new place will need many expensive purchases so I will be doing a lot of looking on line before going and shopping when I can check things out more

I have just started a diary I really need to be accountable - dont we all

I put money away each month for those expensive purchases that way I can cover needed things as and when I need them - well so far I have been able to

Aaleigha

when you have your online pressence set up send me a pm with a link I would love to look around - its something I am hoping to do when I have moved

what crafts do you do