10 month countdown to being debt-free!

moneyphd

Starting a new diary now that being debt-free is tantalisingly close, to keep me focused. I also want to minimise my day-to-day spending so that I can carry on building up my savings.
I've been in debt ever since graduating in 2001 – never in real financial difficulty, but enough that is has become really irritating now and I’m itching to finally clear it and build up a nice nest-egg, so that I never have to borrow again…

Getting paid tomorrow so it’s a good time to take stock.

These are a few goals for this month:

Don’t pay for food out of my ‘own’ money – (withdraw cash for groceries each month but then if I don’t have any money on me, I end up using a debit card).
Don’t buy food or coffee when I’m at work – take a packed lunch, teabags and milk
Claim back expenses (£40 for last business trip)

Will do a SAO next, all advice welcome, but for now, ta-ra!

moneyphd

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.................... 1

Monthly Income Details
Monthly income after tax................ 2559.81
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 2559.81

Monthly Expense Details
Mortgage................................ 503
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 119
Electricity............................. 40
Gas..................................... 40
Oil..................................... 0
Water rates............................. 25
Telephone (land line)................... 0
Mobile phone............................ 11.4
TV Licence.............................. 26
Satellite/Cable TV...................... 65
Internet Services....................... 0
Groceries etc. ......................... 300
Clothing................................ 0
Petrol/diesel........................... 30
Road tax................................ 16
Car Insurance........................... 35
Car maintenance (including MOT)......... 35
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 10.4
Pet insurance/vet bills................. 50
Buildings insurance..................... 9.6
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 62
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 45
Emergency fund.......................... 70
(Unnamed monthly expense)............... 0
ISA..................................... 25
Readly.................................. 7.99
Netflix ................................ 8.99
iCloud and Apple Music.................. 5.78
Ink..................................... 3.99
Union subs.............................. 20.81
Charity................................. 4.34
Gym..................................... 16.99
Lottery................................. 20
Total monthly expenses.................. 1606.29


Assets
Cash.................................... 4805
House value (Gross)..................... 120000
Shares and bonds........................ 0
Car(s).................................. 3000
Other assets............................ 0
Total Assets............................ 127805


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 88692.1..(503)......3.09
Total secured & HP debts...... 88692.1...-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Sainsbury's bank...............1074.41...50........0
MBNA...........................1115.1....50........0
Barclaycard....................1627......200.......0
Total unsecured debts..........3816.51...300.......-


Monthly Budget Summary
Total monthly income.................... 2,559.81
Expenses (including HP & secured debts). 1,606.29
Available for debt repayments........... 953.52
Monthly UNsecured debt repayments....... 300
Amount left after debt repayments....... 653.52

Personal Balance Sheet Summary
Total assets (things you own)........... 127,805
Total HP & Secured debt................. -88,692.1
Total Unsecured debt.................... -3,816.51
Net Assets.............................. 35,296.39

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