Hallam_Macca's DMP - Time to Get Sorted

Hallam_Macca

Hi all.

Think it's time I got my debts in order. I tried this around this time last year and found the site very useful but got sidetracked and advised getting a loan would be the best way to get straight. After a few failed attempts I'd given up hope of getting a loan and I had stopped using this site. Back to square one!

I want to get my own place, but at the moment it feels like I'm a million miles away from achieving this, I struggle each month to pay for what I do and I probably do waste a lot of money on rubbish. Hopefully this time I'll be able to stick to this and eventually manage to be debt-free with my money in order!

Heffi1

Hi and welcome to the site, you have taken the first step in admitting that you need help. How about posting your SOA and people may be able to advise where to make savings.

Don't worry - it is good to admit even if it is only to yourself that you are now dealing with the debt.

Heather.

Hallam_Macca

Here's my current State of Affairs...

SOA

Income:

Salary: £944.16

Total £944.16

Outgoings

Credit Cards £150
Car Insurance £71.58
Car Payments £119.78
Petrol £100
Rent £150 (approx)
Latics World (Internet Subscription) £3.99
Contact Lenses £22
Sky £27.29
Season Ticket £26.28
Gym £25
iTunes £10
Clothes £30
Mobile £40

Total £775.92

Debit Cards (as of 06/12/07)

NatWest -£275.53 - Overdraft £1250 (0% Interest)
Barclays -£509.98 - Overdraft £500

Credit Cards

Capital One -£994.57 - Credit Limit £1,000
MBNA -£2,542.89 - Credit Limit £2,500

(I don't think I've included evertything in this list, will add to it if and when I can think of anything)

Hallam_Macca

Thanks for the welcome Heather.

To be honest I'm feeling at a complete loss at the moment. I've not even started to plan for christmas yet and to make matters worse my car windows and lock got smashed in at the weekend, without a car for a few days until it all can be sorted and £100 less to spend to pay the insurance excess.

tealady

Sky football and gym are 3 expenses you need to look at. I would aim to get rid of at least 2 as at the moment you cannot afford them. Try the smowballer to see how much they cost each year.
I would also ring Sky to see if you can get a better deal (tell them you are thinking of leaving that might help)

hypno06

Hello! The priorities are to get the overdraft and the credit card under their limits otherwise you will have charges added which will only compound the problem.

Can you pay these from the 0% overdraft which looks like it has some available balance?

How much are your monthly payments on the credit cards? This will show what excess you have in your budget.

Start the famous spending diary - if you prefer to do it online you can do so at spendingdiary.com and see where you are spending that excess!

Hallam_Macca

Football is a big drain on my resources, could definately do with cutting down on that, less away games for a start. I've only just reduced my sky package, was paying £45 a month but have got it down to this, don't think I'll be able to reduce it further just yet. I'm at the gym regulary also so don't want to get rid of that either.

Unfortunately the figure on my NatWest car was just after I had got paid, by the end of the month I'll be close to the overdraft limit again.

I'll be trying to keep a spending diary also, it helped me a lot last time and hopefully it'll do the same again.

Hallam_Macca

Here's my current spending and earnings to date ...

6th December

I earned £944.16 in wages for the month. I spent however £19.50 on an eye-test at Specsavers and ordered 2 pairs of new glasses for £125, £2 for car parking, 99p on a sandwich. Two direct debits came out also, £3.99 on an nternet subscription for latics world and £71.58 on car insurance.

7th December

I spent £1.50 on car parking and paid the £125 for my new glasses, I did the food shopping for the month totalling £163.12, also received a voucher from Tesco for £8 off my next shopping trip if I spend £40 or more. I also filled the car with petrol costing £31.

8th December

Went to the football but only ended up spending £2.40 on a couple of coffees. Things got much worse when I returned to my car to find a couple of windows smashed in and the lock knocked in, will end up costing me £100 for my policy excess in the near future! I also spent £1.58 at iTunes and also £14.95 to watch the Hatton - Mayweather fight, this hasn't come up yet, should expect it to go on my sky bill? I paid my mobile bill with O2 as well costing £70.67.

9th & 10th December

Nothing was spent at all on these days

11th December

All that was spent was £3.47 at McDonalds for some tea. Not been doing bad the last few days but I haven't even started for christmas yet, think I'm going to be struggling to do everything I want this month.

Lucy1982_2

Hallam_Macca wrote: »

Here's my current State of Affairs...

SOA

Income:

Salary: £944.16

Total £944.16

Outgoings

Credit Cards £150
Car Insurance £71.58
Car Payments £119.78
Petrol £100
Rent £150 (approx)
Latics World (Internet Subscription) £3.99
Contact Lenses £22
Sky £27.29
Season Ticket £26.28
Gym £25
iTunes £10
Clothes £30
Mobile £40

Total £775.92

Debit Cards (as of 06/12/07)

NatWest -£275.53 - Overdraft £1250 (0% Interest)
Barclays -£509.98 - Overdraft £500

Credit Cards

Capital One -£994.57 - Credit Limit £1,000
MBNA -£2,542.89 - Credit Limit £2,500

(I don't think I've included evertything in this list, will add to it if and when I can think of anything)

Hi

Just a couple of things and I'm sorry if these have been mentioned already. But your contacts, I pay £10 through Specsavers (which includes checkups) and your car insurance it will be worth shopping around when it's up for renewal.

Good Luck!

Hallam_Macca

Thanks for the reply Lucy, how do you manage to get them for just £10? I get 30 pairs of daily disposables which normally last me a month but I'm trying to make an effort in wearing my glasses more often to make my lenses last longer.

12th December

Received my courtesy car while my car gets repaired, a lovely silver Kia Picanto :eek: filled it up with £10 of petrol and £1.25 on two bottles of coke, attempted to start my christmas shopping but ended up in a 2 hour traffic jam trying to get to the Trafford Centre! Supposed it helped me not spend anymore money.

13th December

I spent £69.49 on christmas presents, only need to buy some christmas cards and a present for my grandad and thats my christmas shopping done, also spent £1.50 on car parking charges and another £1.94 in Ikea on a couple of things.

14th December

I received £25 as a christmas present, was also the works christmas night out, all paid for by the company, all it cost me was £8 for a taxi home.

15th December

Petrol for the weekend cost me £69.01 plus £1 for using the Dartford Tunnel and 2 bottles of coke for £1.40. Didn't pay anything else for the football, stayed at his for the night so food and accomodation was all free.

16th December

I spent £4.46 on food at McDonalds for my journey home and also 35p on a packet of crisps. I got a £50 cheque as a christmas present, will put that in the bank asap.

17th December

I bought 30 pairs of contact lenses from Specsavers for £22. Also spent £5 on petrol, £3 subs to play football and £25 direct debit came out for the gym.

Hallam_Macca

Sorry this seems like a bit of a bore at the moment, struggling to see what I can do about my debt

18th December

I bought a book for £3 at work and also did the rest of my xmas shopping that came to £23.66 and a £1 for car parking.

19th December

My car is now fixed and looking like new again, bad news was paying the £100 excess, glad to be rid of the Kia though! I've transferred £16.58 from my main NatWest account to my Barclays account to bring it to my overdraft limit £500. £29.82 also transferred to pay the minimum balance for the Capital One Account. £57.21 was transferred to pay the minimum balance for my MBNA account that was due on the 12th December!! That'll be another charge!

That leaves me with £85.68 to last me for the rest of the month. I have to pay my sky subscription and the finance on my car totalling around £150. I think I really need some help! :mad: :sad: