Diary of a reformed shopaholic (I hope)

Options
1…3132333537

Comments

  • GeorgianaCavendish
    GeorgianaCavendish Posts: 2,387 Forumite
    First Anniversary First Post Name Dropper Photogenic
    Options
    Hope everything is ok with you 😊
  • shoppingobsessed2020
    shoppingobsessed2020 Posts: 354 Forumite
    First Anniversary First Post Name Dropper
    Options
    im back, its been a roller coaster.  ive been in hospital, had a bit of a health relapse and ended up loosing my job, well i resigned as it wasnt fair on the company.  they were taking me down the capability route and i understand why but i couldnt be bothered fighting them.  my manager was super supportive but her hands were tied at this point and she had to follow procedure, i was in hospital for a couple of months and then bed rest when i got out, but im cleared to go back to work as thats good as ive been going mental in the house.  most of my stomach and health issues have been sorted which is great, im still going to have to be super careful with what i eat but i shouldn't need to be concerned about peg feeding in the future.  i have a new job though that im starting in a couple of weeks so thats good.  not entirely sure what my take home will be but im estimating approx 1K a month as its term time only.  the bonus for this is i wont have to pay for childcare so that will save me £200 a month which is not to be sniffed at and will go a good way to making up the difference between taking an income drop.

    have just done an 18K money transfer with mbna to the bank account, 20 months interest free for a 3.5 or 4% fee, i cant recall which but it came out at 720 fee.  going to pay his lloyds, his barclays, my barclays, and the remainder of his car loan with the money.  im going to do the snowball calculator, but ive worked out i can pay my mbna and the bulk of his first lloyds loan by christmas.  he has taken out another loan to pay for a course he wanted to do so thats another 15K on a loan.  im cautiously optomistic that we will have a tighter year this year but be able to hammer some debt quickly especially with a paycut from both of us.
  • GeorgianaCavendish
    GeorgianaCavendish Posts: 2,387 Forumite
    First Anniversary First Post Name Dropper Photogenic
    Options
    Glad that you are back but very sorry to hear about your troubles - hope that you are feeling much better now. 
    You'll soon be back on track! 
  • shoppingobsessed2020
    shoppingobsessed2020 Posts: 354 Forumite
    First Anniversary First Post Name Dropper
    edited 13 February 2022 at 7:28PM
    Options
    current soa, minus the mbna transfer that has literally just been done today, will be doing a new slightly tweaked one in a monent.

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

    Household Information[/b]
    Number of adults in household........... 2
    Number of children in household......... 1
    Number of cars owned.................... 2[b]

    Monthly Income Details[/b]
    Monthly income after tax................ 1000
    Partners monthly income after tax....... 3500
    Benefits................................ 82
    Other income............................ 0[b]
    Total monthly income.................... 4582[/b][b]

    Monthly Expense Details[/b]
    Mortgage................................ 285.6
    Secured/HP loan repayments.............. 640
    Rent.................................... 0
    Management charge (leasehold property).. 285.61 - ignore this, i counted the mortgage twice!
    Council tax............................. 141
    Electricity............................. 70
    Gas..................................... 70
    Oil..................................... 0
    Water rates............................. 25
    Telephone (land line)................... 0
    Mobile phone............................ 37
    TV Licence.............................. 0 - got rid of terestrial tv, have amazon and disney plus
    Satellite/Cable TV...................... 13 - neflix
    Internet Services....................... 28 - internet and phone
    Groceries etc. ......................... 300
    Clothing................................ 25
    Petrol/diesel........................... 100 - will be less as my commute is going to be less, possibly even walkable
    Road tax................................ 20
    Car Insurance........................... 50
    Car maintenance (including MOT)......... 80
    Car parking............................. 0
    Other travel............................ 0
    Childcare/nursery....................... 0
    Other child related expenses............ 150, swimming lessons, scouts, guitair lessons
    Medical (prescriptions, dentist etc).... 40
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 10
    Contents insurance...................... 10
    Life assurance ......................... 50
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 50
    Haircuts................................ 20
    Entertainment........................... 50
    Holiday................................. 0
    Emergency fund.......................... 50
    (Unnamed monthly expense)............... 0
    house alarm............................. 12
    union................................... 50[b]
    Total monthly expenses.................. 2662.21[/b]
    [b]

    Assets[/b]
    Cash.................................... 0
    House value (Gross)..................... 150000 - house has gone up in value, not that it makes a different really!
    Shares and bonds........................ 0
    Car(s).................................. 20000
    Other assets............................ 35000[b] my jewellery
    Total Assets............................ 205000[/b]
    [b]

    Secured & HP Debts[/b]
    Description....................Debt......Monthly...APR
    Mortgage...................... 64008....(285.6)....2.25
    Secured Debt.................. 8732.....(135)......2.25
    Hire Purchase (HP) debt ...... 13250....(295)......0<
    his car........................1000.....(210)......0[b]
    Total secured & HP debts...... 86990.....-.........-   [/b]

    [b]Unsecured Debts[/b]
    Description....................Debt......Monthly...APR
    lloyds loan 1..................8423......445.......3.05
    lloyds loan 2..................14167.....332.5.....0 no idea on interest rate
    lloyds cc......................2100......40........0 interest free till start of march
    my mbna........................4400......120.......0 interest free till november
    my barclays....................5400......150.......0 god knows interest rate but its hefty
    tesco loan.....................6500......362.......0 no idea on interest rate
    my next........................208.......208.......0 pay the bill in full each month
    his halifax....................5700......55........0 interest free till may
    his barclays...................3560......90........0[b] no idea, but hefty.
    Total unsecured debts..........50458.....1802.5....-  [/b]

    [b]
    Monthly Budget Summary[/b]
    Total monthly income.................... 4,582
    Expenses (including HP & secured debts). 2,662.21
    Available for debt repayments........... 1,919.79
    Monthly UNsecured debt repayments....... 1,802.5[b]
    Amount left after debt repayments....... 117.29[/b]  plus the 260 i counted twice, so decent amount

    [b]Personal Balance Sheet Summary[/b]
    Total assets (things you own)........... 205,000
    Total HP & Secured debt................. -86,990
    Total Unsecured debt.................... -50,458[b]
    Net Assets.............................. 67,552[/b]
  • shoppingobsessed2020
    shoppingobsessed2020 Posts: 354 Forumite
    First Anniversary First Post Name Dropper
    edited 13 February 2022 at 7:33PM
    Options
    new soa when money transfer hits the account tomorrow and i pay things off.  i havent taken his car loan off as im not sure how i go about paying that off, but thats what the balance of the money transfer will be

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

    Household Information[/b]
    Number of adults in household........... 2
    Number of children in household......... 1
    Number of cars owned.................... 2[b]

    Monthly Income Details[/b]
    Monthly income after tax................ 1000
    Partners monthly income after tax....... 3500
    Benefits................................ 82
    Other income............................ 0[b]
    Total monthly income.................... 4582[/b][b]

    Monthly Expense Details[/b]
    Mortgage................................ 285.6
    Secured/HP loan repayments.............. 640
    Rent.................................... 0
    Management charge (leasehold property).. 285.61 - ignore, counted this twice!  its the mortgage payment.
    Council tax............................. 141
    Electricity............................. 70
    Gas..................................... 70
    Oil..................................... 0
    Water rates............................. 25
    Telephone (land line)................... 0
    Mobile phone............................ 37 (3 contracts, handsets all paid off)
    TV Licence.............................. 0 - dont have terestrial tv
    Satellite/Cable TV...................... 13 (netfix|)
    Internet Services....................... 28 (landline and internet)
    Groceries etc. ......................... 300
    Clothing................................ 25
    Petrol/diesel........................... 100 - will be less as my communite is a 2 min drive each way, its walkable if im up early enough!
    Road tax................................ 20
    Car Insurance........................... 50
    Car maintenance (including MOT)......... 80
    Car parking............................. 0
    Other travel............................ 0
    Childcare/nursery....................... 0
    Other child related expenses............ 150, swimming, guitar, scouts
    Medical (prescriptions, dentist etc).... 40
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 10
    Contents insurance...................... 10
    Life assurance ......................... 50
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 50
    Haircuts................................ 20
    Entertainment........................... 50
    Holiday................................. 0
    Emergency fund.......................... 50
    (Unnamed monthly expense)............... 0
    house alarm............................. 12
    union................................... 50[b]
    Total monthly expenses.................. 2662.21[/b]
    [b]

    Assets[/b]
    Cash.................................... 0
    House value (Gross)..................... 150000
    Shares and bonds........................ 0
    Car(s).................................. 20000
    Other assets............................ 35000[b]
    Total Assets............................ 205000[/b]
    [b]

    Secured & HP Debts[/b]
    Description....................Debt......Monthly...APR
    Mortgage...................... 64008....(285.6)....2.25
    Secured Debt.................. 8732.....(135)......2.25 
    Hire Purchase (HP) debt ...... 13250....(295)......0<
    his car........................1000.....(210)......0[b] want to pay this with the remainder of the mbna trasnfer
    Total secured & HP debts...... 86990.....-.........-   [/b]

    [b]Unsecured Debts[/b]
    Description....................Debt......Monthly...APR
    lloyds loan 1..................8423......445.......3.05
    lloyds loan 2..................14167.....332.5.....0
    my mbna........................4400......120.......0 interest free till november
    tesco loan.....................6500......362.......0 no idea on interest rate
    his mbna.......................18720.....300.......0[b] interest free till november 2023
    Total unsecured debts..........52210.....1559.5....-  [/b]

    [b]
    Monthly Budget Summary[/b]
    Total monthly income.................... 4,582
    Expenses (including HP & secured debts). 2,662.21
    Available for debt repayments........... 1,919.79
    Monthly UNsecured debt repayments....... 1,559.5[b]
    Amount left after debt repayments....... 360.29[/b] plus the 285 and the 210 from his car when i work out how to pay the difference!

    [b]Personal Balance Sheet Summary[/b]
    Total assets (things you own)........... 205,000
    Total HP & Secured debt................. -86,990
    Total Unsecured debt.................... -52,210[b]
    Net Assets.............................. 65,800[/b]
  • shoppingobsessed2020
    shoppingobsessed2020 Posts: 354 Forumite
    First Anniversary First Post Name Dropper
    Options
    despite the income drop, and the debt increase i think it is, we have a hefty surplus looking at things so we should be ok to hammer a fair amount of debt this year.  id like to concentrate on my mbna first and get that clear and then throw anything leftover at lloyds loan 1.  those credit cards are getting closed!  i use my tsb card on a monthly basis, but i dont carry a balance on it so im going to keep that as its a 1k limit, i think ill also keep my mbna card once clear as its an 8.5K limit as a high limit card is handy but it wont be used!  the card is cut up and shredded so i dont have the temptation to use it.  his barclays and halifax are getting closed leaving him with his lloyds which generally doesnt carry a balance its only beause it was on an interest free offer which is why it has a balane and he will keep his mbna card.  the limit on that is horrific, i appreciate having the limit availible but its a scary limit to have, and i think i need to reduce the limit once we have paid down more debt.

    i was toying with a remortgage but we did that not quite 5 years ago to pay for a few courses and the kitchen so the bank wont let us till november, but im confident that with the mbna transfer we wont need to go that route.

    his lordship is under strict instructions of no more courses till we are debt free bar the mortgage and my car loan, his is almost paid and i want to get that clear with the rest of the mbna balance trasnfer money.  clothes we dont need any as ive just bought some new work stuff and monkey boy is kitted out.  his lordship needs new clothes when he gets home from sea but he will kit himself out for under £300 and that will last him another 2/3 years so i dont mind that.  he will get a couple of bits from next but he will go to sports direct and just get his joggers and tshirts there, although last time he went away i did get him some joggers and tshirts from next and his impressed with the quality just not the price!  dont know how this man is happy to spend thousands on his education but begrduges spending money on quality clothes.

    i dont think ill be walking to work, there is no way i will be up early enough to walk and i dont want to turn up a sweaty mess lol.  i need to get my fitness back up before i look at walking to work.  

    other than that, we are not in any overdrafts, its 2 weeks to pay day and we still have money left in the accounts and ive got £50ish in my purse plus £150 sainsburys gift card and £50 love to shop gift card and £20 amazon gift card so not doing bad at the moment. 


  • crunchy_time
    crunchy_time Posts: 498 Forumite
    First Anniversary First Post Name Dropper
    Options
    Nice to see you back! Sorry you’ve had such a rough time recently.

    Is hubby away at the moment?

    Crunch xx
    Debt-free Jan 2023 | MFW date Dec 2033. Start date 1st January 2023 £257,509 (23 years left)
    Current Mortgage: £243,500
    Interest saved so far: £1273 
    Total overpaid so far: £1,188.93

  • shoppingobsessed2020
    shoppingobsessed2020 Posts: 354 Forumite
    First Anniversary First Post Name Dropper
    Options
    he is still away but due home next month, so thankfully not long to go.

    today the 18K hit my account, i have more money left than planned as i couldn't pay full balances on a couple of cards, i could only pay statement balances.

    tsb card - clear - no balance on that so nothing to pay

    next - paid £160 - £40 left to pay but statement balance clear

    lloyds - paid 2100 - no balance left

    my barclays - paid 5014.41 statement balance clear - 332 plus interest to pay on next statement due 03/02

    his barclays - paid 3200 - no idea on balance, couldn't log on to online banking to get the balance so guesstimate and paid less.  dd mandate set up, so that will pay the remainder over the next month or two depending on balance.  £92 dd mandate was also taken today for this, need to be really careful not to pay extra manually on this as dd wont take if i do.

    his halifax - paid 5500 - no idea on balance, online banking locked out, so again i guesstimate and paid less than last balance.  dd mandate will get the remainder sweeped over next couple of months.  interest free on this ends may so will be sorted by then.


  • shoppingobsessed2020
    shoppingobsessed2020 Posts: 354 Forumite
    First Anniversary First Post Name Dropper
    Options
    i think ive actually made a mistake in how much the mbna payment for the 18K will be, my card is 4.4K and i pay £110 a month interest free (checked last dd mandate and thats what i paid), so in actual fact, my 18K balance should cost me approx £500 a month, so a surplus of £450 a month which still isnt to be sniffed at.
  • Borders2017
    Borders2017 Posts: 44 Forumite
    First Anniversary First Post Combo Breaker
    Options
    Hello! I adore this thread thanks so much for updating.

    I have a cheeky question, would it not be good to sell off the jewellery you have and clear some more debt quickly or have a well earned holiday? Diamond prices are very good at the moment or you could replace them with conflict free stones and I doubt anyone would know any different! Seems a shame to keep them just for sentimentality when it could wipe a lot off the total.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.4K Banking & Borrowing
  • 250.2K Reduce Debt & Boost Income
  • 449.8K Spending & Discounts
  • 235.5K Work, Benefits & Business
  • 608.4K Mortgages, Homes & Bills
  • 173.2K Life & Family
  • 248.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards