Money Makers ''trying'' it again diary 2008

chevalier

You will still not have enough income to pay even the reduced costs and as banderei mentioned, your debt is still increasing.

Is there any reason why you can't do a debt management plan (DMP) with one of the free companies ie CCCS, Payplan etc? There are links to these sites at the top of the forum.

You still pay back the money but at a slower rate, and the company deals with your creditors on your behalf.

But even then I think that you may need to think about either
a) pushing the event thing more
b) getting a second PAYE job to help pay off the debts

regards
chev

bandraoi

moneymaker2 wrote: »

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!!!!

This in particular worries me.
Your budget shows that in a basic month you have £2400 to live on of which
£750 (mortgage) + £90 (council tax) + £350 (childcare)+ £350(secured loan) has to be paid to keep the roof over your heads.

So of £2400, £1540 is gone before you think about doing anything else.
There is another £330 on the other loan.

You have £530 to run two cars, feed, clothe and entertain 4 people, in addition to paying off credit card debt and you tried to spend £150 of it on clothes from an expensive shop?

moneymaker2

bandraoi wrote: »

and you tried to spend £150 of it on clothes from an expensive shop?

Yes Bandraoi, but at least I realised this. I know that we are in alot of debt but sometimes you have lapses. This was one of mine. Safe to say that it has all gone back now. I am really looking forward to being debt free and being able to walk into any shop knowing that I don't have to worry about money and can just buy what I want, hence the reason why I am trying really hard and trying not to have any more lapses like the one above.
I have attached a new SOA below.

moneymaker2

Outgoings:

Mortgage: £754.51
Council Tax: £90.00
Gas/Electric: £77.00
Water: £20.00
Home Insurance: £28.88
TV Licence: £9.91
Sky: £18.00
Phone Bill: £11.00
AOL: £9.99
Shopping £200.00
Petrol: £120.00
Car Insurance: £45.45
O2: £35.00
Orange: £35.00
Life Insurance: £21.01
Savings: £25.00 (Haircuts, pressies, emergencies etc)
Childcare: £408.00
Gym £26.00
Cineworld: £11.99
First Plus:£349.93
HSBC: £327.21
Citibank: £170.45
Barclaycard:£100.00
Barclaycard:£52.00
Alliance and Leicester: £9.00
Capitalone: £15.00
Next: £90.00
Blackhorse: £68.91
Experian: £6.99

Total:£3137.23

Income:

Wages:£1400
Wages:£1300
Childbenefit: £120.80
Wftc:£80.20
Childcare:£60.00

Total: £2961 Difference of £176 which is normally covered by any bonuses or overtime.

debrag

do you need the gym plus is the £200 shopping for food?

moneymaker2

Well the good news is that I have an interview for the department Managers job. I really need to get this.
We have 3 functions coming up in January and February and I have clocked up over 16 hours of overtime at work already this month with still half the month to go.
Mr Moneymaker is also doing some stupid hours overtime as well, being unsocialable hours and that.

All the money from above will be going towards clearing off the debts.

I also have £80 cashback coming from the lifecover policy that I swopped over.
£60 for the orange contract phone with £105.00 cashback over 6 months as well.
Also £61.00 for changing over the gas and electricity and hopefully I will get something from quidco soon in regards to my prudential £130 that seems to have gone walk about.

Gemmzie

It's dangerous ground using overtime just to live month to month.

Could AOL, gym and one of the phone contracts go?

debrag

thats good news It's such a shame for those without even a debit card (me) can't take advantage of cashback online

moneymaker2

Hiya Debrag,
Yeah I need the gym I am currently trying to lose 5 stone plus I work in a stressful job and I believe that this helps save my relationship. As of March work will start paying £20 a month towards this leaving me with only £6.00 to payout.
The shopping is just for the shopping for 2 adults 1 child and a 6 month old.

moneymaker2

Hi Gemmzie,

Both the phones are in contract, but as soon as the 02 one finishes it'll be on pay as you go.
The gym I need for reasons stated above and AOL have just reduced this from 14.99 per month to 9.99 per month. I use the internet alot and could not live without it.