Help! Don’t know where to start 😥

Rainbowcellar

This is the first step I guess at trying to change my awful money habits and secure a better future for my family.
I have always been terrible with money from a young age, gadget mad, keeping up with Jones’, just ridiculous stuff!
I have had some clear thinking over the years, especially with houses, but that’s it. So my picture is, my wife and I and in our 40s. My wife has a small part time job which she loves, I have a full time permanent job in education. Our family income is roughly £40,000 after tax, pension reductions. We own our house outright and have done for the last 3 years, having moved to a cheaper part of the country and buying our house with the equity we had when selling our previous house. The main problem is the debt I have run up fixing up the house and trying to live a lifestyle that doesn’t fit our income 😞
We have zero savings. My education pension is a good one so I have no worries there. But it’s the debt that is scaring me.
I have a car loan with 2 years to run at £350 per month
I have a 10 year interest free loan from a company that put in our air source heat pump heating system as we are off grid.
I have £30k in credit card debts which I’m just managing to pay off the minimum monthly amount.
A next card with £2k on it.
I don’t have an overdraft.
I just don’t know where to start - can anybody help?

Rainbowcellar

I forgot to add our house is valued at £200k.

dan958

Your best bet would be to complete a SOA. People on here will be able to look at your outgoings and then advise.

Grazeley

Hi.. welcome. I am up !!!! creek too - you're in the right place, lots of helpful and knowledgeable people on here.

Post a statement of affairs (SOA) which will list all your assets, debts, and expenditure.
We can review and give advise when having the complete picture.

I dont have the link to the SOA, might be able to find it on the main page. Format it for MSE...

Rainbowcellar

Is the SOA done on a website? Or do I just do it manually myself? If so, what information depth is required?
Income, expenditure, loans amount and length of payments? Credit card debts and amounts I’m paying each month? Will that do?

Grazeley

https://www.stoozing.com.


Look at my SOA further down the first page = will give you an idea of the detail and help you'll get

JayRitchie

Rainbowcellar wrote: »

Is the SOA done on a website? Or do I just do it manually myself? If so, what information depth is required?
Income, expenditure, loans amount and length of payments? Credit card debts and amounts I’m paying each month? Will that do?

Thats it! I'm sure you will get some great ideas here. You position really doesn't look (on paper) too bad to me given that you own your home and have a good income.