Money Makers ''trying'' it again diary 2008

Gemmzie

Hi moneymaker

How did you get on with Sky?

moneymaker2

i looked into it and found that i can change my broadband to either 0,5 or 10 per month dependent on how much i download per month the phoneline is free calls in evenings and at weekends for 11 pounds and the tv i can cut by 20 pounds by removing the movies and the stuff we don't watch. husband wasn't keen on losing the movies but he has agreed to trial it and see if we ''miss'' them. i could even reduce the sky to just 18 pounds if i can get rid of the extra box....:beer:

Gemmzie

That's excellent, we've done the same. We have the £5 broadband and I download a lot plus use the internet nearly every day and find it plenty, so unless you're a very heavy user - £5 or free will be plenty!
I thought we'd miss Sky movies but we really haven't, not even over Christmas, it's all repeats! And there's loads of movies on Film4, ITV2/3/4, E4 etc anyway!

Any more updates to make on the SOA? You're doing great. One debt down already! Big chunks off the cheques one!

moneymaker2

Only the fact that we have swopped the gas and electric again.

I have also been accepted onto a department manager programme at work and a vacancy has come up. Its more money basic but you don't get the overtime like you would do as a team Manager.
I would only be up against 1 other person but it is in sales. I can't sell to save my life but this is about managing the team Managers and overseeing the department.

UI think that i could do it with a little guidance and I will get the salary figures tomorrow to see if its worth my while applying or waiting till I finish the course.

bandraoi

How does your SOA stand now?
Can you redo it with the changes?
What are the interest rates on your loans, how's your credit rating?
(and highlighting anything that will shortly finish)

moneymaker2

My daughter is crying her eyes out, but once I get her to sleep i'll come back on and put an update on Bandraoi.

moneymaker2

And again:

Mortgage: £754.51 (Variable rate-Pymts go up or down by approx £30 everytime the rate increases/decreases)
Council Tax- £90 (Paid over the full 12 months to reduce payments)
House Insurance - £28.88 (Have made 3 claims and had special terms imposed so no one else will have us at the moment-Due for renewal Oct 08)
Water- £20.00 (Puts us about £1ish in credit each month, but we can claim back overpayments at any time)
Gas- £39.00 (Have applied to switch to cheaper provider)
Electricity- £47.00 (Have applied to switch to cheaper provider)
Home Phone - Approx £11.00 (Through Sky)
O2 Mobiles- Approx £75.00 (1 due to be cancelled 8th January 08)
Orange Mobile £35.00 (Will be used as a business phone)
Broadband: £5 (Through Sky)
Joint Lifecare: £18.00 (Should the switch go through. £80 Cashback on this as a 1st Direct customer)
Car insurance: £45.45 (Only for 1 car, the other is paid up till August 2008, also trying to sell this car but no look before xmas. May try Ebay??)
Sky £18.00 (Have taken out loads on the package and cut the extra box)
TV Licence Approx £10.00
Cinema membership£11.99 (Usually £23.98 but not fully payable till March 08)
Shopping: £200.00 (Based on 2 adults 1 child and a 6 month old)
Petrol: £120 (for 2 cars, again trying to get rid of 1 of the cars)
Childcare: Varies between £350- £400 (If we pay over £400 per month WFTC will give us £60 per month towards this)
Savings: £25 per month (put in high interest account cannot withdraw for 12 months, primarily for xmas and the xmas break we take to butlins)

First Plus £343.14 13% Interest (This is a variable one and should go down soon with the recent rate change 29 years left on this one as it is secured)
a & l creditcard: £9.00 (16.9%)
Barclaycard: £100.00 (17.9%)
Barclaycard: £53.00 (17.9%)
HSBC Loan: £327.21 (6.9%)
Next Bill £85.00 (No interest)
Blackhorse £68.91 (23 payments left 0% Interest)
Citibank: £170.45 (12.19% apr 53 pymts left)
Capitalone: £15.00 (19.9%)
Gym Membership £26.00 (As of March work will start paying £20 towards this per month)
Cheques £14 for each one that is rolled over for another month

Outgoings:£3101.54-£3151.54 per month

Income:
Wage one: £1200Plus bonuses and overtime
Wage two: £1200 plus bonuses and overtime
Tax credit £80 (Will halve in June)
Child benefit: £120.80
Functions: Approx £2000 per year as and when they are needed.

Income: Approx £2790 Basic Approx £3090 with bonuses and overtime.

moneymaker2

Looks like we have another function in January and one in February and March.
Only bad news is that I have been told that my bonus is going to a quarterly wage so I think i will definatly apply for the department manager position.
My wage at the moment is a basic of £18,350 and as a designate department manager it would go to approx £21,000 I think.

moneymaker2

And I ordered £150 pounds worth of Ted Baker clothes before xmas and they still haven't turned up yet, saying that they should have been delivered both Friday and Saturday so i'm gonna call them tomorrow and get them to return them and credit me back.
Yay!!!!

bandraoi

moneymaker2 wrote: »

Looks like we have another function in January and one in February and March.
Only bad news is that I have been told that my bonus is going to a quarterly wage so I think i will definatly apply for the department manager position.
My wage at the moment is a basic of £18,350 and as a designate department manager it would go to approx £21,000 I think.

You're still spending more in a year than you're earning,
That means your debt is still increasing, albeit more slowly

You need to get that pay rise and even then, you're on dodgy ground.

Getting rid of O2, selling a car, and moving to cheaper providers will help but you have no budget for Christmas, birthdays, hairdressers, clothes. In the short term, even in the medium term that's ok but some of your loans have years to run and you can't do without them forever.

I don't see that much slack in your budget, not to be harsh but any new disaster, eg a car breaking down or a boiler blowing up and you could very quickly hit melt down with your finances.

Can you try switching one or more of the cards to low interest LOB or 0%?