Here is my SOA, looking for advice.

PasturesNew

If you go Glasgow to Edinburgh that's 100 miles return.
In my car, fuel would cost me £12/trip. Increasing servicing/tyres use and decreasing value would add another £8/trip. Call that £20.

Going 2-4x a month wouldn't, for me, be cheaper on the train. I'd use my car, costing £40-80/month to go 2-4x. Even cheaper in the short term without factoring in the loss of value and cost of servicing... just £24-48/month.

Pennysmakepounds

Sea_Shell wrote: »

We only pay £63 dual fuel in a 4 bed detached.

To be honest, that sounds VERY low for the property. You must be in a new build that is extremely heat efficient.

I live in an old (Circ 1930) semi with an extension so 4 Bedrooms / huge kitchen & bathroom etc.

My bills are about 120 per month.

However, I do have 3 teenage kids so Showers are quite frequent for them and me and other kids associated energy costs aka gadgets and so forth.

Still £63 sounds really good. How many in your family?

Sea_Shell

Pennysmakepounds wrote: »

To be honest, that sounds VERY low for the property. You must be in a new build that is extremely heat efficient.

I live in an old (Circ 1930) semi with an extension so 4 Bedrooms / huge kitchen & bathroom etc.

My bills are about 120 per month.

However, I do have 3 teenage kids so Showers are quite frequent for them and me and other kids associated energy costs aka gadgets and so forth.

Still £63 sounds really good. How many in your family?

2 adults (we're in the same room most of the time)
Walls, loft insulated
1990's build
No "gadgets" other than a phone each.

InspectorSpacetime88

So I have redone SOA reducing Presents and Entertainment and some other small adjustments this should now reflect my planned budget I intend to stick to at a minimum I will still try to reduce the where I can like groceries/petrol/entertainments etc... and put the money into paying off the Tesco Credit Card as that is my imediate concern alongside Mortgage going onto standard variable rate. Sticking to this budget should at least stop me from using credit cards or overdraft and allow minimum payments to continue.

I will review how I use my gas and electric and try and reduce this usage.

I will also look into getting a lodger though not sure there is a big market for that, I stay in East Kilbride which is not exactly near Glasgow City Centre.

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 1
Number of children in household......... 0
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 1980
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1980

Monthly Expense Details
Mortgage................................ 427
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 107
Electricity............................. 70 (Octupus Energy 112.45 for Dual Fuel, Gas Central Heating)
Gas..................................... 42.45 (Octupus Energy 112.45 for Dual Fuel, Gas Central Heating)
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 15.99
Mobile phone............................ 13
TV Licence.............................. 12.54
Satellite/Cable TV...................... 25 (I will cancel this when contract ends in Feb 2020)
Internet Services....................... 23
Groceries etc. ......................... 160
Clothing................................ 20
Petrol/diesel........................... 90 (I have to drive to Edinburgh 2-4 times a month)
Road tax................................ 16.25
Car Insurance........................... 45
Car maintenance (including MOT)......... 40
Car parking............................. 0
Other travel............................ 97.6 (Monthly Train ticket from EK to Glasgow)
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 14
Pet insurance/vet bills................. 0
Buildings insurance..................... 7.5
Contents insurance...................... 7.5
Life assurance ......................... 0
Other insurance......................... 21
Presents (birthday, christmas etc)...... 10
Haircuts................................ 4
Entertainment........................... 20
Holiday................................. 0
Emergency fund.......................... 100
(Unnamed monthly expense)............... 0
Total monthly expenses.................. 1388.83


Assets
Cash.................................... 0
House value (Gross)..................... 120000
Shares and bonds........................ 0
Car(s).................................. 2500
Other assets............................ 0
Total Assets............................ 122500


Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 97420....(427)......2.82
Total secured & HP debts...... 97420.....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
Tesco Bank Loan................19393.....451.......2.95
Tesco Bank CC..................6135......61........0
Barclaycard CC.................3300.63...76........0
Total unsecured debts..........28828.63..588.......-


Monthly Budget Summary
Total monthly income.................... 1,980
Expenses (including HP & secured debts). 1,388.83
Available for debt repayments........... 591.17
Monthly UNsecured debt repayments....... 588
Amount left after debt repayments....... 3.17

Personal Balance Sheet Summary
Total assets (things you own)........... 122,500
Total HP & Secured debt................. -97,420
Total Unsecured debt.................... -28,828.63
Net Assets.............................. -3,748.63

SusieT

To start you thinking of ways to save electric, turning off lights as you leave the room is obvious, if you have the tv on turn the lights off (tv will give enough light), use a slow cooker wherever possible. Heating on for 15 mins later and off at least 30 mins before bedtime (also saves gas) until its seriously cold, wear a jumper and warm clothing inside the house if its chilly. Dont leave the fridge door open longer than needed and try to open it once for a few things rather than several times for 1 thing.
Be aware thet there may be a notice period for cancelling the satellite tv, so check at least 30 days before the end of contract to make sure you are not hit with an extra month!

monetxchange

For energy saving - get into the habit of switching off everything bar the fridge at the plug. You can even get timer plugs that do this for you. Lights off in rooms you're not using, 'mood lighting' in the ones you're in. Turn off useless radiators that are heating empty space - like hallways you only ever spend 30 seconds a day in, for example. There's loads you can trim here. And make sure you check the Cheap Energy Club to change the tariff!

[Deleted User]

Sea_Shell wrote: »

Just seen that you're in Scotland. That's going to have an impact on your Gas/Electric, just because it's so much colder/darker over winter than "down south". So that does explain some of the high cost.

But....Turn those lights out!!!

I live quite a bit further north than the OP and not in a new build (19th century), my gas and electricity bills are nowhere near as much as the OP’s.

[Deleted User]

OP, have you looked into using the bus instead of the train to travel between East Kilbride and Glasgow? Alternatively, does your employer offer a season ticket scheme to allow you to buy an annual train pass which should be a bit cheaper than a monthly one?

pjcox2005

Hi, you do need to get a grip and remove your debt, and you're right to worry about 0% expiring and no other cards being available.


On a positive note, I don't think the mortgage should be too bad. Typically existing lenders will offer new deals on expiry which don't require the same affordability tests, so unless you have an uncompetitive lender then I wouldn't expect this to be an issue as you'll have reduced the level of debt during the current mortgage period. Obviously still better to be in a position where other banks/building societies will lend to give you options though.

EssexHebridean

I'll second some of those things - also don't automatically tumble dry everything if you currently do, use the tumble drier for sheets, towels etc but just for an hour then they can finish off on an airer or radiator. The racks that you hang over rads are superb for drying most regular clothes - it's one of the things I really miss now with no central heating!

When you get home tonight think about actively walking around your house looking for things that are switched on, and evaluating whether they can be switched off or not - some things, the wifi & satellite TV boxes for example, you''ll want to stay on, but TV's can be turned off fully each night. If you don't like - as a single person - walking into a dark house, then use one lamp with a low energy bulb and set it to come on shortly before you are due home on a timeswitch (they can be purchased for a few pounds so no big outlay there if you don't already have one.

Smaller savings - make sure that you only boil as much water as you need in the kettle each time, and if heating water for cooking boiling it in the kettle and then pouring it into your pan is cheaper than heating it on the cooker. If you feel cold, then first evaluate what you[';re wearing - are you sitting around in shorts and a t-shirt, with bare feet? If so, pop on long trousers, a jumper and a pair of socks - this isn't about getting dressed as though for an arctic expedition, just wearing the appropriate clothes for the season rather than heating your home to a tropical level! First step on the heating is to check where your thermostat is set to - anywhere above about 20 degrees then turn it down a degree at a time until it hits 20. (Some will say 18 but that is a bit chilly for most people).