Help !!!!!!

nats112

Hello People,

Firtsly i would like to thank all the people thathave replied to my previous thread and to say that at least now i know i can strt pulling myself out of debt!!!!!.

Please see the list below of all my outgoings on a monthly basis ......i need some serious help !!!!

Monthly OUTGOINGS
Rent: £275
TV licence: £12
Council tax: £62
Cable, phone & internet : £30
Elec&gas £60
Petrol £40
Car ins £56
Food £120
Welcome finance loan £113
Overdraft £800
Course : £100

Total debt: loan=£113, overdraft=£800. GRAND TOTAL= £ 1,668.00

Total monthly earnings : £1,296.45

I`m trying to clear as much as i can by early 2008 as 2008 is gonna be a good year for me ......i`m not taking anything else as an answer

Shineyhappy

Hiya and well done on posting your SOA I know how scary it is!

Do you pay 800 off your overdraft every month?

How many are you feeding for 120 pounds a month? I think you should pop over to the Old Style board and have a look at some of thier cheap reciepe ideas and have a think about brand swopping.

Have you looked at some of the challenges on this board for inspiration on how to raise some extra cash? Ie mystery shopping, surveys etc. There is also a forum on how to make extra cash on here too.

Squirrel29

nats112 wrote: »

Hello People,

Firtsly i would like to thank all the people thathave replied to my previous thread and to say that at least now i know i can strt pulling myself out of debt!!!!!.

Please see the list below of all my outgoings on a monthly basis ......i need some serious help !!!!

Monthly OUTGOINGS
Rent: £275
TV licence: £12
Council tax: £62 Do you pay over 10 months, if so change to 12 months.
Cable, phone & internet : £30
Elec&gas £60 This quite high, have you shopped around - use Quidco for cashback
Petrol £40
Car ins £56 This high also, use a few comparison sites then use Quidco for cashback.
Food £120 How many is this for? I feed 2 of us + 2 cats + 1 dog on £160 p/m
Welcome finance loan £113
Overdraft £800 Will come to this in a minute.
Course : £100

Total debt: loan=£113, overdraft=£800. GRAND TOTAL= £ 1,668.00

Total monthly earnings : £1,296.45

I`m trying to clear as much as i can by early 2008 as 2008 is gonna be a good year for me ......i`m not taking anything else as an answer

From my calculations, not including the OD figure - you have £428 spare each month - this is without making cut backs as mentioned above. Instead of counting your whole £800 overdraft as a monthly outgoing, could you reduce it by £200 each month - it would be paid off then by Feb/March 08. Make sure you get bank to actually reduce limit each time you make payment to it then you won't be tempted to dip back into it.

What is balance on Welcome finance? Can you overpay?

floss2

Nothing for car MOT / road tax / repairs / servicing etc

Is this EVERYTHING that you have been paying out? Or do you have extras like clothes or socialising that isn't included? Maybe start a spending diary & then you can rediscover that "spare" £428 a month.

nats112

Thanks for that Squrrel 29, well i`m still a newbie to all of this, please bear with me.....ok regarding the £120 , this would be feeding both myself and my partner...for the month , with regards to the other stuff like the MOT costs, Repairs, Clothes ...i tend to try not to spend money on that for the moment just so i can get my things sorted out so i know exactly were i am !!!.

I hope this helps !!!

thanks

nats112