The Final Furlong

Dottles1

vStatement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 1
Number of children in household.........
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 1628.41 This will reduce from next payday by approximately £400
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 124.85 this is a small pension I receive
Total monthly income.................... 1753.26

Monthly Expense Details
Mortgage................................ 386.6
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 93
Electricity............................. 20
Gas..................................... 37.14
Oil..................................... 0
Water rates............................. 17
Telephone (land line)................... 14
Mobile phone............................ 10
TV Licence.............................. 13.29
Satellite/Cable TV...................... 0
Internet Services....................... 21.6
Groceries etc. ......................... 200
Clothing................................ 0
Petrol/diesel........................... 60
Road tax................................ 11
Car Insurance........................... 22.48
Car maintenance (including MOT)......... 13.82
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 17.77
Pet insurance/vet bills................. 0
Buildings insurance..................... 4.92
Contents insurance...................... 0
Life assurance ......................... 19.62
Other insurance......................... 0
Presents (birthday, christmas etc)...... 95
Haircuts................................ 8
Entertainment........................... 100
Holiday................................. 100
Emergency fund.......................... 50
Total monthly expenses.................. 1315.24


Assets
Cash.................................... 450
House value (Gross)..................... 125000
Shares and bonds........................ 0
Car(s).................................. 4000
Other assets............................ 0
Total Assets............................ 129450


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 23062.3..(386.6)....2.04
Total secured & HP debts...... 23062.3...-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Barclaycard....................7587.75...174.6.....0
Tesco c/c......................1185.58...25........0
Virgin c/c.....................544.95....25........18.33
Overdraft......................200.......0.........0
Total unsecured debts..........9518.28...224.6.....-


Monthly Budget Summary
Total monthly income.................... 1,753.26
Expenses (including HP & secured debts). 1,315.24
Available for debt repayments........... 438.02
Monthly UNsecured debt repayments....... 224.6
Amount left after debt repayments....... 213.42

Personal Balance Sheet Summary
Total assets (things you own)........... 129,450
Total HP & Secured debt................. -23,062.3
Total Unsecured debt.................... -9,518.28
Net Assets.............................. 96,869.42

Created using the SOA calculator at https://www.stoozing.com.
Reproduced on Moneysavingexpert with permission, using other browser.
I haven't put anything in for clothing as I don't buy often and when I do it's usually charity shop and comes out of personal spends.
I have added up all family members and what I budget for each to get this total and includes birthdays and xmas. Friends will come out of personal spends. I previously haven't put money aside for these.

Would you suggest building up my emergency fund before overpaying credit cards or do both at the same time? The 0% ones both have about 12 months left on the deal.
I appreciate any comments or ideas.
Thanks
Dottles x

Dottles1

Thanks Beanielou

beanielou

If I was you I would pay off the OD & Virgin first before you think of an emmergency fund.
Just my thoughts

Dottles1

Thanks Beanielou, that's what I'm thinking. It seems odd to be saving rather than paying off the debt but there have been several times where a large unexpected bill has come in and I have had to use my credit card and I know others on here suggest an emergency fund first.
Well Saturday was another NSD, that's 3 in a row, unheard of for me. I did spend £2.82 yesterday on some YS bits but all will go into meals this week and had tea at my son's last night so a meal to carry over there. My plan is to spend no more than £10 this week (including the £2.82)up till my weekly food budget resets on Saturday. Hopefully there will be money left in the food budget at the end of the month to move into another pot.

This weekend I have been decorating my tiny conservatory using paint left behind by the previous owners and very nice it looks too. That's another job done for free, I'm looking at other colours they have left to see what I can do next. There is a quite a bit of decorating that needs doing but I'm loathe to pay for a decorator and so am seeing what I can do myself first so less left to pay for. However, I do need an electrician to put up a light fitting in my hall. I already have the fitting and know an electrician who will charge £25 to do it. That will come out of my personal spends for this month.

The garden is coming along nicely now and looking more colourful. I have picked tomatoes and courgettes so far and the runner beans are almost ready as are the chillies. The caterpillars have had a great feast on the kale but I don't mind sharing it with them so some food free food for the next few weeks. I noticed the blackberries along where I walk Tilly are starting to ripen so I will be along there with my bag this week. I then open freeze them before putting in a bag so I can take a handful out when I fancy over the colder months. Lovely on my porridge.

Right, I'd better shake a stick and get on as I have some private work booked in this morning.
[STRIKE]Hoping[/STRIKE] planning for another NSD today.

Best wishes to all
Dottles x

Dottles1

So, another frugalling day.
Yesterday was another NSD, I'm so impressed with myself. It just goes to show how a bit of planning helps to cut down on spending. I'm also eating more healthily as a side benefit and getting more done. I'm at work all day today so will be taking my lunch with me, using up bits and pieces in the fridge to make a buddah bowl (or a buddah plastic tub) with some quinoa added for protein.

I'm quite keen to reduce my plastic waste and so think it's really important to use the plastic that I already have, in this case an old takeaway tub. I also use these in the freezer.

After work I need to pop to the bank to prove my identity. My GD attempted to transfer her money from her English bank to her American one but has been having all sorts of difficulties. They were also going to charge her a fortune. I am so impressed that she thinks of this at the tender age of 23, puts my 23 year old self to shame. Anyway she found a transfer company who charge a reasonable fee but still could not transfer out of her own bank so we agreed she would put her money into my bank and I would to do the transfer from there. Now that has been flagged as a possible fraudulent transaction at my bank!! I am grateful that they are vigilant but what was supposed to be a 5 minute transaction has turned into a saga.

I have my evening meal sorted for today, omelette and courgettes from the garden so today should be another NSD.

food & groceries £200/147.93 left
petrol £60
Personal spend £100
NSD 4/30

The shower is calling so bye for now
Dottles x

Dottles1

Well yesterday and today have also been NSD's - who'd have thought it possible ? I will have to get a few bits tomorrow for lunches etc. but should stay within budget. I made £60 from private work on Monday and have more booked in for Friday. I will probably take some to go towards London on Monday and the rest will go to tax payment & advertising. Car tax reminder arrived in the post yesterday which I wasn't expecting so I will probably pay 6 months out of personal spends. Then I received a surprise invitation to a hen do in York. It's my best friend's daughter who is getting married in September and I'm quite touched by this and looking forward to it. I'm thinking I'll see what is left in personal spends and I have a few things to sell which should help me stay in budget.
2 days work done and now have 6 days off before I have to go back, woo hoo !! I'm really getting to enjoy staying at home and getting things done. Mind you I have brought some work home with me, more to help me not feel overwhelmed than anything else.

I have been thinking about getting a credit card that will amass points or cash back to use for petrol on each week and pay off at the end of the month. Does anyone have any suggestions/recommendations? Though part of me wonders whether I should wait until I'm further into my budgeting plans before I do his. What do you think?

Off to bed now, I have to be up fairly early tomorrow as I have a chance of free top soil for the front garden if I can collect in the morning.

Sleep tight all
Dottles x

beanielou

My thought re the CC is only if you can really really pay it off every month.

enthusiasticsaver

I don't think I would apply for another credit card until you have paid off at least one of the existing ones.

Many of the cards which do cashback/rewards have annual fees which would not be worth you getting if you only pay around £60 a month on fuel.

I also wonder if it might be too much temptation for you not to clear it in a tight month which would make your situation much worse.


Is that £17.77 in the medical column dentist/optician fees as you should get free prescriptions if over 60?

Dottles1

Thanks for that Enthusiasticsaver. That's a good point. I hadn't thought about card fees so will probably leave that for now and concentrate on getting used to the budget. I know from experience that I can try to run before I can walk so probably better not to have any temptation just yet.
You are right, I do get free prescriptions, this amount is for a health package in which I can claim back costs for dentist, opticians (I also now get free eye tests too)and other services like chiropody, hospital stays etc. I have always monitored this to ensure that I receive more than I pay out but this might be something to go next. I am currently waiting for an eye operation which will mean changing my glasses again (had one last year now waiting to do second) and have a foot problem which the NHS don't cover in my area so I don't want to be too hasty.
Now this is the bit where it usually goes haywire for me, the unexpected(??) outgoings Car tax, hen do, birthday and cc to pay twice this month as moved payment day to the beginning of the month as I forgot it last month and went overdrawn. I'm going to sit down with a coffee, look at available funds and work it out.

Thanks for the input
Dottles x

Dottles1

Right, I have looked at everything, calmed down and this is how it looks.
I put £350 into holding account on payday. Out of that I will pay:

£175 to credit card 1 (extra payment due to moving pay date)
£125 to car tax (whole year paid)
which leaves me £ 50

London will come out of personal spends as that's what it is there for. I expect to come in under budget for food/household this month so I will add that and small amounts from private work and anything I sell to the holding account. At the end of the month I can then allocate to pots and overpayments.

Phew !! Not nearly as bad as I thought.

Dottles x