Debt, Endo and Reno

birdsfoottrefoil

Anyway! Self reflection and whinges over!

lloyds CC - £5450 (will split between the interest rates when statement comes next month)
Sant CC - £25.60 (had cleared it but they added interest for the previous month…. It’s like they want to draw you back in)
Loan - £5397.4
CC3 - £4807.52

Total: £15,682

🫠

Have uploaded 6 items of clothing to Vinted on my lunch break in an attempt to feel a bit less incompetent. 

birdsfoottrefoil

Edited as I put in the wrong house value by 200k

Ok new SOA, gone through transactions again and will comment on changes.

[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................ 2272.96 gone down as joined union

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

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

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

Total monthly income.................... 2272.96[/b][b]

Monthly Expense Details[/b]

Mortgage................................ 641

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

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

Management charge (leasehold property).. 0

Council tax............................. 180 gone up

Electricity............................. 30

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

Oil..................................... 100

Water rates............................. 22 increased £1

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

Mobile phone............................ 28 gone down as new contract

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

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

Internet Services....................... 26

Groceries etc. ......................... 150

Clothing................................ 20

Petrol/diesel........................... 201 gone up looking at last month

Road tax................................ 21

Car Insurance........................... 35

Car maintenance (including MOT)......... 55 increased this as service and MOT due at nearly 170k

Car parking............................. 5

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

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

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

Medical (prescriptions, dentist etc).... 40  not been as bad as expected

Pet insurance/vet bills................. 35 slightly up

Buildings insurance..................... 24

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

Life assurance ......................... 25.83

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

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

Haircuts................................ 30 up

Entertainment........................... 120 same not spent this this month but monitoring

Holiday................................. 25

Emergency fund.......................... 20

(Unnamed monthly expense)............... 0

Apple storage........................... 2.99 new

Physio etc.............................. 135 new

Dog/hens food........................... 30 new

Netflix................................. 9 new

NT ..................................... 7.6[b]

Total monthly expenses.................. 2062.42[/b]

[b]

Assets[/b]

Cash.................................... 150

House value (Gross)..................... 225000

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

Car(s).................................. 1000

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

Total Assets............................ 226150[/b]

[b]

Secured & HP Debts[/b]

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

Mortgage...................... 116750...(641)......4.26[b]

Total secured & HP debts...... 116750....-.........-   [/b]

[b]Unsecured Debts[/b]

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

T 1............................4807......48........0

S 1............................25.68.....21........21.6

S Loan.........................5398......156.......20.7

L balance T 2 sep 25...........1470......0.........0

L balance T 1 nov 24...........2310......0.........0

L purchases ...................1671.01...152.3.....22.63[b]

Total unsecured debts..........15681.69..377.3.....-  [/b]

[b]

Monthly Budget Summary[/b]

Total monthly income.................... 2,272.96

Expenses (including HP & secured debts). 2,612.42

Available for debt repayments........... 210.54

Monthly UNsecured debt repayments....... 377.3[b]

Amount short for making debt repayments. -166.76[/b]

[b]Personal Balance Sheet Summary[/b]

Total assets (things you own)........... 226,150

Total HP & Secured debt................. -116,750

Total Unsecured debt.................... -15,681.69[b]

Net Assets.............................. 93,718.31[/b]

[i]Created using the SOA calculator at www.LemonFool.co.uk.

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

Will comment after walking the dog and metaphorically berating myself over my spending

dawnybabes

Hope you’ve got the house value wrong 🤣🤣🤣

birdsfoottrefoil

Yes, I have it should be £225,000!!!

birdsfoottrefoil

So! First thoughts:

- I need to start putting my mileage claims in at work. (There’s a big sustainability push and it’s looked on gravely is using your own car rather then a works one, so everyone still does as there’s never enough cars but then doesn’t put the claim in…. Unless they’re a director…)

- Try and sell at least £20 of Vinted stuff a month at least.

- Really monitor my spending this month so I’ve got accurate figures and can better work out where cuts can go.

-either cancel or sort out the broadband at the house (builder threw out the router…), I know that’s such an easy fix but I keep getting stuck on Vodaphones AI message centre on the website and end up giving up.

- hopefully the physio etc bill will be less next month….

- No new clothes or anything!!! Forget thoughts of newer car and patch old one up.

- I’m considering getting an elec bike on cycle to work,  as I could cycle twice a week or one of the offices I work out of. I think the salary sacrifice is £85 per month. Need to work out the exact cost of driving to that office and if it’ll be worth it. 

- Also forgot to put in yoga subs of £30 per month 🤦‍♀️ I paid for a mates subs last month as she’s out of work (she’s not aware it was me as I did it through the instructor). I like doing things like that for her, but I need to stop as I’m not sure it’s helping me or her being responsible (it’s the 3rd job she’s left in the last year and she lives with parents who I found out recently still pay all her bills so there’s no impact of the lack of job). I hope that doesn’t sound patronising on my part.  

- Get house finished and an income coming in!!! Probably the main thing!!!

There’s more things but I’ll work on those for August and see how we go. 

birdsfoottrefoil

Hi! 

So small positive 3 items have sold on Vinted! Wooo just need to get them posted out now, only £19 but much better than nothing.

Wage came in yesterday put £200 over into savings (it will most likely come back out as the month goes on) but today £1,271.52 in bills has already gone out in bills. So it looks a bit bleak! 

I have a budget planner I made for a “typical” month on Excel, which shows me what I need in the month, which days bills go out and what I should have left after my bills.  It would be good to have a spreadsheet where I could put what I’ve spent in each “pot” (ie entertainment, fuel, shopping) as I go along and see how much I have left (but like a spreadsheet Monzo). I don’t want to change my bank to one that does that function as I’m with a little building society and I like that they never share my info with anyone.  I need to get a bit better at my spreadsheet skills, unless anyone knows of any ready made ones? 

birdsfoottrefoil

My current v basic spread sheet. 

Conscious of this as I’ve already done a £50 supermarket shop last night (part of which was some £20 jeans…. I know I said I wouldn’t but l’m short after having a throw out when I listed stuff on Vinted). 

oldage

Not sure what it’s like with other banks but with Starling you can assign your direct debits to a saving space, which I find makes it very easy to just top that up on payday and then be assured that you’ll have enough to pay it. You can also use digital cards assigned to specific spaces, which I tend to use for subscriptions. Really handy!

birdsfoottrefoil

In my love of a spreadsheet, I made one last night where I can set a budget at the top for different sections (ie Petrol, going out, groceries) and then put in my spends per day below under each section. It then show how much is left in each budget etc or what is the overspend. 

Not the best photo, but hopefully it shows the idea.

I’ve set off with this month but have also gone back over the July and May bank statements (went on holiday in June so not typical). It has been an eye opener in a bad way. I have over spent by nearly 800 to 1000 each month over what my ongoings are.

I do not understand how I have kept going!! But it does explain why I have no savings. 

I really thought when I started this I’d already had my “lightbulb” moment and I was doing ok as I was (apart from last month) paying down my debt even if very slowly. I clearly haven’t solved the problem. 

My grocery and going out spending were 100s of pounds more than I thought. I’m really disappointed in myself for not seeing this and realising. 

DrSpendingLittle

I remember after my LBM going over my bank statements and in particular my credit card statement, and be simply astounded at how much I was overspending each month. It was a very valuable experience. 

I like the spreadsheet (I love a good old spreadsheet!!!). I use YNAB but it's not for everyone and it's actually really expensive now! I used it to help me get out of debt so re-subscribed to help me along with my savings targets, but I reckon your spreadsheet is doing exactly the same job!