Statement of Affairs

Ak400

Hi all, 

I am trying to get debt free but it’s tough. I am posting my income v expenses and just wondered if anyone can help or give advice

income 
2600 net

outgoings monthly 
rent 1000
childcare my share (600)
car payment 234 (agreement ends in May) 
loan 1 £142 per month (ends September next year) 
loan 2 129 per month (3.5 years left) 
money transfer card £90 per month (3 months left) 
money transfer card 2 £52 (18 months left) 
Phone bill £23
total 2268

problem is one emergency or issue and I am in the soup.

any help or suggestions as to my best moves from here to going debt free would be amazing

Sea_Shell

Someone will hopefully be along with a link to a full SoA template, as there's lots missing from your summary.

Where are all your other spends?  Utilities, council tax, Groceries etc.

Ak400

So we have put a bit into a join account, and those bills, council tax and utilities etc go from there. My partner earns more so does a lot more of the grocery shopping I chip in when I can 

Andyjflet

Its going to be hard to comment without the full picture. Shortest way to get to pay day I would say is speak to your partner and get her to do the shopping until then, before you both get paid you need to sit down, run through all budgets and discuss. Go through your last 6 months spends and see where the money is going, if you dont earn enough to cover your budget then this needs adjusting, mine is done on payday every month. 

I suspect there is something else here, is the debt gambling or drinking for example? 

Ak400

Hi, no there is no drinking I don’t gamble either I just wasn’t great with money and was out of work for a while took some loans and still playing catch up. 

My partner is ok to do shopping plus we have money in our joint account. 

What I earn covers rent child care car payments and my loans I have around £300 left after but not much if any emergency 

RAS

You need to do a proper SOA. Ideally two.

One explaining your personal finances, fully. As in if you have a car, what sort of finance? Where's the petrol, parking, repairs etc? Do you never buy clothes or shoes, get your hair cut or a prescription? Failing to make monthly allowances for those and other expenses means you'll spend time lurching from crisis to chaos and back.

Then do one for your full household, as that'll help people understand which bit of expected expenditure are paid by your partner.

Check www.lemonfool.co.uk and format for MSE

Grumpelstiltskin

OP's other thread.

Emergency — MoneySavingExpert Forum

Ak400

RAS if I have a haircut or any other expense it comes from what’s left after my salary and expenses 

sourcrates

This will be merged with OP`s other post "Emergency" please comment on that post going forward.