Debt Help needed

lilfairy

Hi all,
Ive been lurking around for a while, and have decided I need to seriously sort out my debts.
Im 22, and I have the following:

Barclays - £3,048.15 OD
Car Loan - £2376 approx
CC - £4000 approx (0%)

I am a teaching assistant in the mornings, and teach gymnastics in the afternoons/evenings/weekends.

I get paid well for the gym - £12 per hour before tax, and the teaching isnt as well paid, but it pays, and I am doing my level 3 NVQ at the moment, so wages are guaranteed to go up for the next 2 years, and the school are going to pay for my teacher training.

I get £4622.52 p/a after tax which equates to £385.21p/m (School)
I get £6048 p/a before tax (not sure how to work out after tax?!)

That is my basic wage from gymnastics, I do try and get overtime whenever possible, but dont want to count it in this, as it is not guaranteed.

And to make it really difficult...I get £250 before tax a month from gym, then at the end of each term, the money catches up (I hope - will let you know in a months time!) - This is because I do after school gym clubs in a lot of schools, and boss gets paid termly, so in turn pays me termly.

My outgoings per month are:
Car Loan - £198.43
Insurance - £56.71
Phone Bill - £35.00
Bro Phone Bill - £30.00 (I owe him some money, so am paying his bill to pay back).
Petrol - £60
Food - £100
House fund - £100 Temporarily stopped to sort out my situation
CC Repayment - £75

That is all the payments I can think of at the mo.

What do you guys think? and Sorry for the long post!

Thanks for your help.

:rolleyes:

southernscouser

lilfairy wrote: »

What do you guys think?

I think I read that you were 22 and did gymnastics. My mind wandered after that!


Ok first things first we need to try and work out how much you earn net per month? :rotfl:

What do your payslips say for last month?

CLAPTON

I can't quite understand your income

job 1 : teaching assistant pays 381 per month after deductions.

job2 : Gymnastics 6048 gross pa ..let say 337 net per month.........is this anew job: why dont you know the new amount?

job 3 : gym ??? is there a third job or is that the same as the second???? confused



spending:

can you check that you spend nothing on
car tax, servicing, RAC/AA repairs
socialising
clothes
lunches/ coffees
haircuts
dental/medical/optical
holidays/weekends away
xmas/presents
presumably you live at home home so you pay no rent/council tax etc?

for the debts
can you say the amount, APR and the minimum monthly payments

lilfairy

CLAPTON wrote: »

I can't quite understand your income
Sorry for being vague!

job 1 : teaching assistant pays 381 per month after deductions.

job2 : Gymnastics 6048 gross pa ..let say 337 net per month.........is this anew job: why dont you know the new amount?
I have only just started to be paid monthly, before it was half termly, so is all a bit mixed up at the moment.
I get £250 minus deductions, about £218 if my memory serves me correctly during the term, then at the end of the term, I get the rest of the terms money - approx 1000 minus tax.
job 3 : gym ??? is there a third job or is that the same as the second???? confused
Sorry, this is the second job.


spending:

can you check that you spend nothing on
car tax, servicing, RAC/AA repairs
approx £150 per year.
socialising
OH is v good, and pays for a lot, but £50 per month
clothes
about £20 per month if Im lucky!
lunches/ coffees
haircuts
£200 per year
dental/medical/optical
holidays/weekends away
£500 per year
xmas/presents
£500 per year
presumably you live at home home so you pay no rent/council tax etc?
Correct
for the debts
can you say the amount, APR and the minimum monthly payments

Credit Card - Awaiting new statement, but about £3000, and 0% until Oct 2008.
Bank - £3,048.15 OD
The interest rate on agreed
overdrafts is [SIZE=+1]15.6% EAR[/SIZE] typical variable* is what the website says.
Loan - £2376 - I tool out a £4500 loan 24 months in Oct 2006. Not 100% sure what the APR was, will try and look out the paperwork, and get back to you on this one.

Thanks for your help.
Steph

lilfairy

southernscouser wrote: »

I think I read that you were 22 and did gymnastics. My mind wandered after that!

Haha, lots do!

Ok first things first we need to try and work out how much you earn net per month? :rotfl:

What do your payslips say for last month?

I will search them out tomorrow, thanks for your help.