Just turned 30 and decided I need to sort my life out

Wannabehousebuyer

Hi All!
just cashed out 25.82 from prolific - will be a nice little extra and will be putting it in my- 'i forgot i need to budget for this fund' - i suppose this is my current EF -I want to have a buffer depending on what happens this month with going back to work / im on 100% pay atm, i cant say the same for end of may pay, we will find out during the course of this month!
overall i am not too fussed about having an actual EF - im in rented with a company car- so nothing is really jumping out at me as to what i would need it for. 
Hope everyone is well!
x

Willing2Learn

Ooooh - Prolific is a nice little earner.

I found other reliable sources of income are PopulusLive & Branded Surveys. 


Edit:  An EF is a essential component of all successful monthly budgets.  Without an EF, it means when the expected unknown expenses pop up (which they will) there is something in the pot to pay for the car repairs, boiler maintenance without having to resort to using lines of credit.  These expenses WILL ALWAYS be a part of your annual expenses.  Without sounding too preachy...The EF expenses do not need to 'jump out on you'.

Wannabehousebuyer

Willing2Learn said:

Edit:  An EF is a essential component of all successful monthly budgets.  Without an EF, it means when the expected unknown expenses pop up (which they will) there is something in the pot to pay for the car repairs, boiler maintenance without having to resort to using lines of credit.  These expenses WILL ALWAYS be a part of your annual expenses.  Without sounding too preachy...The EF expenses do not need to 'jump out on you'.

@Willing2Learn - No No I get you however i wont need car repairs or boiler maintenance, thats what i meant above by in rented and a company car?

Wannabehousebuyer

SO, I have just been paid - Perk of a monzo account ad being paid early. 
Filled up all my pots.
CLEARED THE AQUA CARD - YAY!!! 
CLEARED THE BARCLAY CARD - YAY! 
i guess there will be some interest after my bills have generated but i have put £20 aside for that. 
Done an online shop for sunday - came in right on budget - and i have noted this as i want to keep to my budget - ( food shopping is going to be going onto the barclaycard and cleared every month to try and build my credit. 

My COMPLETED LBM was only a few weeks back - £3124 was my total (ish) 
I have cleared- 848 (( took a settlement as well)
Found a letter to statue barred £496
So i have 1750ish left on a 0% Defaulted very account.
cleared 43.4% of the debt. 
I just need to stick to all of this now LOL

I know it sounds like i haven't got much debt, however this is the tail end of years of piling up the debt and paying down through DMP. My credit rating is wrecked and i am doing it without a DMP and defults, and without my parents help ( That makes me sound spoilt)- when i left uni i had 6 student overdrafts of around 2/3k each , then an ex bf that liked to run up my credit agreements and had champagne taste and lemonade money !
Now i'm on my own - I am finally seeing the benefit of everything being budgeted for and accounted for. Planning for the future and towards a goal. 
This next bit is going to be a SLOG i think- its a relatively large balance to clear before i can even think about saving. 

Thank you all for your help so far, I am certainly going to carry on needing it!

x

Willing2Learn

This might be a good time to post up your latest SOA.  You will get loads more tips, support and advice (not like you are short of receiving any).  I have a feeling that your SOA needs more work 

Wannabehousebuyer

@Willing2Learn Thank you- that prompted me to do one- please see below

Statement of Affairs and Personal Balance Sheet - 30th May onwards

Monthly Income Details

Monthly income after tax................ 1604

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

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

Other income............................ 45

Total monthly income.................... 1649

Monthly Expense Detail
Mortgage................................ 0

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

Rent.................................... 616

Management charge (leasehold property).. 12

Council tax............................. 0

Electricity............................. 12

Gas..................................... 12

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

Water rates............................. 15

Telephone (land line)................... 0

Mobile phone............................ 75

TV Licence.............................. 5

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

Internet Services....................... 10

Groceries etc. ......................... 150 inc cleaning and dog food

Clothing................................ 40

Petrol/diesel........................... 20 (company car - this is for personal miles)

Road tax................................ 0

Car Insurance........................... 0

Car maintenance (including MOT)......... 0

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

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

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

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

Medical (prescriptions, dentist etc).... 0

Pet insurance/vet bills................. 15

Buildings insurance..................... 0

Contents insurance...................... 7

Life assurance ......................... 0

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

Presents (birthday, christmas etc)...... 30

Haircuts................................ 70

Entertainment........................... 100

Holiday................................. 20

Emergency fund.......................... 0

Garden.................................. 5

Forgot I Need To Budget For This........ 20

Dog .................................... 10 (incase we need to go to the vets fund)

Total monthly expenses.................. 1244[/b]

Assets[/b]

Cash.................................... 0

House value (Gross)..................... 0

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

Car(s).................................. 0

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

Total Assets............................ 0[/b]

[b]

No Secured nor Hire Purchase Debts

[b]Unsecured Debts[/b]

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

Very (DMUK)....................1750......10........0[b]

Total unsecured debts..........1750......10........-  [/b]

[b]

Monthly Budget Summary[/b]

Total monthly income.................... 1,649

Expenses (including HP & secured debts). 1,244

Available for debt repayments........... 405

Monthly UNsecured debt repayments....... 10[b]

Amount left after debt repayments....... 395[/b]

Okay so 395 is 'left' (unless anyone can see the holes in my SOA- i have never lived to a budget before - i think the only reason why i could manage this a bit easier is because we are not going out!!)
im torn between just clearing debt - or 50/50 split between the very and the house deposit.  ( although this worries me as you cannot withdraw from the LISA). so maybe i need 3 ways- debt, lisa, and general savings, IE if i need to move & get another rented place in the interim, or i could just find the info for my help to buy with a £1 in.  maybe i should add that to my to-do list. 
Sorry i am rambling however this diary really does help my mind and putting it down 'pen to paper' not only helps but allows you guys to help and support and give comments which help me beyond belief. 

TYIA
Side note - my wages will be going up in a few months as i am paying off some damage to my company car - the Excess was £250, paid £100 so 3 paydays left. Aug pay will be £50 higher.
xxx

Dreambox

I have to say that smoking is a quite expensive thing. When I left smoking, I understood that not only my health was better, but my wallet also. So if you can and want to feel better, both economicaly and yourself, quit smoking from my experience my life became better since I quit smoking! .
Best regards! 

Wannabehousebuyer

Dreambox said:

I have to say that smoking is a quite expensive thing. When I left smoking, I understood that not only my health was better, but my wallet also. So if you can and want to feel better, both economicaly and yourself, quit smoking from my experience my life became better since I quit smoking! .
Best regards! 

Hi @Dreambox
I have been smoke free Since the beginning of Lent and trust me- feel a million times better - i cant imagine how many i would have been smoking during this lockdown and how poor i would be !!
Thank you for stopping by

Willing2Learn

I found it useful to use the NHS SmokeFree app on the android mobile.  Also available for Apple too.
https://www.nhs.uk/smokefree

Wannabehousebuyer

Willing2Learn said:

I found it useful to use the NHS SmokeFree app on the android mobile.  Also available for Apple too.
https://www.nhs.uk/smokefree

Funnily enough just commented on your post about smoking @Willing2Learn