Matt's Debt Free Journey

argomatt

Hi @savingholmes & @Sarahwithlove
Thanks for the tip I will have a look into it, especially as my employer are reducing wages by 10% starting this month because of Corona

Sarahwithlove

Sorry to hear that. Hopefully you can find ways to make up for the downfall 

argomatt

Sarahwithlove said:

Sorry to hear that. Hopefully you can find ways to make up for the downfall 

@Sarahwithlove I've just managed to get two evenings work next week, working from home but for a company I have done casual work for in the past.  I wasn't expecting to get any extra work for a long time so this will be a welcome boost, I will pay the extra money to the Argos card to clear that quicker.

Sarahwithlove

argomatt said:

Sarahwithlove said:

Sorry to hear that. Hopefully you can find ways to make up for the downfall 

@Sarahwithlove I've just managed to get two evenings work next week, working from home but for a company I have done casual work for in the past.  I wasn't expecting to get any extra work for a long time so this will be a welcome boost, I will pay the extra money to the Argos card to clear that quicker.

That's great it all helps. Hopefully you might get some more in the future 

argomatt

June Update
I got paid for the 2 evenings extra work I got in May, and put all the money towards the Argos card.  I have got two more booked in June so I hope to pay that off Argos too. 
Argos    8 months 0%      £301.95   Ahead
Wayfair 8 months 0%      £352.28   On Track
Furniture Shop 20 months 0%  £1400 On Track
Sainsburys C/C 16 months 0% £2467.50 Behind

argomatt

[font=courier new][b]Statement of Affairs and Personal Balance Sheet[/b][b]

Household Information[/b]

Number of adults in household........... 1

Number of children in household......... 

Number of cars owned.................... 1[b]

Monthly Income Details[/b]

Monthly income after tax................ 3800

Partners monthly income after tax....... 0

Benefits................................ 0

Other income............................ 0[b]

Total monthly income.................... 3800[/b][b]

Monthly Expense Details[/b]

Mortgage................................ 1800

Secured/HP loan repayments.............. 0

Rent.................................... 0

Management charge (leasehold property).. 0

Council tax............................. 270

Electricity............................. 57

Gas..................................... 0

Oil..................................... 0

Water rates............................. 31

Telephone (land line)................... 25

Mobile phone............................ 10

TV Licence.............................. 14

Satellite/Cable TV...................... 0

Internet Services....................... 0

Groceries etc. ......................... 240

Clothing................................ 0

Petrol/diesel........................... 60

Road tax................................ 3

Car Insurance........................... 350

Car maintenance (including MOT)......... 20

Car parking............................. 0

Other travel............................ 0

Childcare/nursery....................... 0

Other child related expenses............ 0

Medical (prescriptions, dentist etc).... 10

Pet insurance/vet bills................. 0

Buildings insurance..................... 20

Contents insurance...................... 0

Life assurance ......................... 9

Other insurance......................... 0

Presents (birthday, christmas etc)...... 0

Haircuts................................ 12

Entertainment........................... 0

Holiday................................. 0

Emergency fund.......................... 0[b]

Total monthly expenses.................. 2931[/b]

[b]

Assets[/b]

Cash.................................... 27000

House value (Gross)..................... 720000

Shares and bonds........................ 0

Car(s).................................. 8000

Other assets............................ 0[b]

Total Assets............................ 755000[/b]

[b]

Secured & HP Debts[/b]

Description....................Debt......Monthly...APR

Mortgage...................... 500000...(1800).....0[b]

Total secured & HP debts...... 500000....-.........-   [/b]

[b]Unsecured Debts[/b]

Description....................Debt......Monthly...APR

Sainsburys.....................3000......70........0

Wayfair........................350.......40........0

Furniture......................1430......70........0[b]

Total unsecured debts..........4780......180.......-  [/b]

[b]

Monthly Budget Summary[/b]

Total monthly income.................... 3,800

Expenses (including HP & secured debts). 2,931

Available for debt repayments........... 869

Monthly UNsecured debt repayments....... 180[b]

Amount left after debt repayments....... 689[/b]

[b]Personal Balance Sheet Summary[/b]

Total assets (things you own)........... 755,000

Total HP & Secured debt................. -500,000

Total Unsecured debt.................... -4,780[b]

Net Assets.............................. 250,220[/b]

[i]Created using the SOA calculator at www.stoozing.com. 

Reproduced on Moneysavingexpert with permission, using other browser.[/i][/font]

argomatt

I haven't updated this diary for a while now, so just wanted to check in to keep myself on track.

July Update
Argos    10 months 0%      Repaid
Wayfair 8 months 0%      £ 313   On Track
Furniture Shop 20 months 0%  £1400 On Track
Sainsburys C/C 16 months 0% £2414 On Track.

Now the Argos card is paid off, the £50 which was being paid to Argos is now going to Sainsburys, along with the minimum payment which is around £65,  and any money I get from extra work, which averages £150 per month at the moment.
This £265 per month would see the Sainsburys card paid in just over 9 months.

But,  my TV broke this week, I thought it was quite new but by looking back through my Amazon orders I bought it in 2009, so it's probably done it's time.  I brought the small TV in from the kitchen and hopefully make do with that until the card is paid off.