StressedSteph's SOA & Debt Diary

linniestorm

Ha ha bank_of_slate I love that thing in your siggy re the irish pound and bank managers!

StressedSteph regarding BT, I think it's worth arguing the toss here, under the premise of nothing ventured. If you've been with them three years and you've not signed anything this September just gone there's no way you're in a four year contract. Put it writing and ask them to send you a copy of the agreement you signed contracting you to them until Sept 08.

If they can't produce it they can't hold you to the contract, and they should let you out of it immediately (not that you're in it in the first place if you haven't signed!), I'm not sure what's best to threaten them with, perhaps threatening to report them to Trading Standards or Ofcom might do the trick. I think they're bargaining you'll go 'Oh well' and just leave yourself signed up to it cause they're betting most people won't bother ringing back in September. If you're sure you haven't signed anything and no one in the family has don't let them away with it!!! I'd keep it in writing though, to be on the safe side, so you've got a paper trail if you need to send anything to a regulatory body!

Jacks_xxx

StressedSteph wrote: »

Hi all


A&L Mortgage £125,000 - £820pm (now spread over 30years)
A&L Loan £15,000 - 360pm (removed PPI as usless being selfemployed)
MINT cc £4200 - £200pm
EGG cc £4000 (used to pay that unexpected tax bill )
Overdraft we never seem to climb out off £2500
Catalogue £565 - £150pm
Home phone £35 (included internet connection)
Gas / Electric & Water £127 (Uswitch'd with SEC which is cheapest)
Tax (saving up for next payment in July £400)
Healthcare £22 Cheap healthcare for 2 adults / 2 children
Sky & Tv License £45 (reduced SKY to £35 hubby won't give up Sports:mad: )
Car & Works Van Insurance £105 (Car 35 / Van £70)
Council Tax £105
Food £300
Mobiles x 2 £50 (both got 12months contract left that can't get out of) Have you actually tried? I found bandying the word "bankruptcy" about helped. At the very least they should downgrade you to a cheaper package - and you can throw the difference at the debts!
Diesel x 2 £175 All essential journeys???
House Insurance £31
Life Insurance £11
Lottery £9 (can't bring myself to cancel this :rolleyes: )

TOTAL Income £3,611.00
TOTAL Expenses £2,945.00

= £666 per month left / £166.50pw

.

Hiya honey, :wave: I've got a few ideas for you!

1) How much is in the Tax Fund? If you were to throw the tax fund at a CC and close down the account you'd have smaller outgoings. Those cards and the overdraft are costing you more in interest than you're earning on savings? If a card is gone you have lower outgoings and can save more for tax. (Does this make sense?)

2) Find out where that spare £666 is going and use it to pay debts or save for tax.

3)Sky inc sports phone and broadband for £36 per month.
http://packages.sky.com/buy/

4) Healthcare - suspend this until your finances are more healthy and throw the £22 at the debt

5)Punch all your debts into the snowball calculator and see how long you're going to be paying it off.
http://www.whatsthecost.com/snowball.aspx
Then add in the lost £666, the £22 from the healthcare, the £9 from the lottery, the £34ish you can save on tv internet and phone and the £50 you're going to shave off the food budget (see number 6)! ) I bet it makes quite a difference to the date at the bottom of the page!

6) Check out Moneysaving Old Style and The January Grocery Challenge in particular. Stick to the essentials and buy cheaper versions of everything and you'll shave £50 off easily.

http://www.moneysavingexpert.com/shopping/cheap-supermarket-shopping

http://forums.moneysavingexpert.com/showthread.html?t=652959

Is that enough to get you started?

Love Jacks xxx

StressedSteph

Thanks Sooooo much all. Think I have lots to do every evening from now on, exploring all the suggestions you have made.

Am just trying to do a Tesco Value only shop at the moment and will compare it to my usual bill. I have added on most of the things we need and it's still only at £33 so looking good :-)

It feels so much better actively trying to sort it out, even if it is a long haul

Thanks loads again folks xxxx

CRANKY40

You haven't put down what you pay per month on the Egg card, so I don't think there is £600 spare every month.....and are you charged for your overdraft?

mummytofour

Tesco is so expensive can you try lidle? There are quite a lot cheaper and if you can learn to love home made soup then you will be quids in in no time!

tallyhoh

I must agree with Linniestorm about the BT contract, it might be a load of ****. I used to work in a call centre flogging insurance & I know the customers would be told anything to stop them cancelling. Dont you have a contract anywhere to check?

The house insurance is high. Dont forget to try a comparison site & go through a cashback site when it comes up for renewal. I pay £12.77 a month for building/contents.

StressedSteph

Lucy1982 wrote: »

Now you are saying that you have £600 odd left over, but I'm betting that you never see this money?

try keeping a spending diary, list everything you spend as you can then see where you are spending un-necessarily or where you can cut back. but with that amount available to you, you could beat your debt really well.

Try having a look at the snowball debt calculator as it will give you an idea of what a change that money could make - http://www.whatsthecost.com/snowball.aspx?country=uk

Good luck, hopefully more people will be along soon with more advice

x

:eek: Lucy can this Snowball website be right???

I put in

MINT cc £4299
EGG cc £4000
Overdraft £2500
Catalogue £565

With a maximum spend of £1000 pm (includes that £600 that disappears every month) and it claims I would have it paid off in 9 months :cool:

I did'nt include the loans as it is fixed and would probably cost me a loan in penalties it I finished it early, but I can cross that bridge when I get to it.

I just have to somehow make ure I harness that spare £600 from wherever it hides every month and push it to paying my debts off.

Even if it takes me twice that long I would be happy

StressedSteph

Hi all

Have changed the title of this thread a little, so I can keep it as my Debt Diary also.

Well I found out why BT have us on a contract, it's because we accepted the free offer of a wireless hub. I stupidly should have realised that "Nothing comes for free" and on accepting this, we also signed a years contract :mad: .
Live & learn I guess :rolleyes:

I am getting together loads of kids toys to put on Ebay tonight and my 3 year old son and I will be finishing off our new piggy bank today for the "Sealed Pot Challenge".

My Tesco shop ended up being £43 which is alot better than the £75 I budgeted for. Hope to be able to keep this up. Will try Lidle next week, the good thing with Tesco is they deliver. I know you think WHAT. you can't afford delivery charges, but if I get them to deliver on a Wednesday night it is only £3.99, well the nearest Tesco is 10miles away so it would cost me a Gallon of fuel to get there and back :rolleyes:

I am trying to earn £10 per day on Daily clicks & Ebay selling, so hopefully this will give me some more money towards my debts.

Hope you are all not too depressed at going back to work etc today. I am trying to keep optimisitc

Jacks_xxx

Hey Steph, :hello:

Check this thread out for a voucher code that'll more than cover your delivery charge.

http://forums.moneysavingexpert.com/showthread.html?t=520690&page=56

I usually just try all the latest ones until one work - and if one or two can't be used together the Tesco site saves them for you for next time.

HTH honey,

Love Jacks xxx

Jacks_xxx

StressedSteph wrote: »

:eek: Lucy can this Snowball website be right???

I put in

MINT cc £4299
EGG cc £4000
Overdraft £2500
Catalogue £565

With a maximum spend of £1000 pm (includes that £600 that disappears every month) and it claims I would have it paid off in 9 months :cool:

I did'nt include the loans as it is fixed and would probably cost me a loan in penalties it I finished it early, but I can cross that bridge when I get to it.

I just have to somehow make ure I harness that spare £600 from wherever it hides every month and push it to paying my debts off.

Even if it takes me twice that long I would be happy

Did you put in all the right interest rates honeybun? Cos even at 0% it'd take you 12 months.

Love Jacks xxx