Oh No Not Another SOR

getting-sorted-sarah

I know this is almost text-book - been hanging about the forums for a while, started trying to help myself, and now it is time to see if anyone can offer any suggestions to help a bit more. I hope some of you are not too tired repeating yourselves to newbie DFWs like me!

I don't know what SOR stands for (duh) - but I am pretty sure that this is one:
(oh oops yes, state of affairs!!!)

Monthly Income (inc Salary, Child benefit, Child Support, Tax Credits and some Housing Benefit) = £1943

Monthly Outgoings
Rent £719
Council Tax £89
Loan £282 (5.99%, last payment in Aug 2010)
Car Ins £25
Car tax £10
Car general £30 (estimate - MOT etc)
Petrol £50
TV licence £12
Mobile £30 (inc insurance - contract up in a fortnight, intend to renegotiate down to £15)
Broadband £10
Contact lenses £20
Gym £26
Gas & Electric £33
Water £25 (on meter)
Food £250 (me and 2 kids (18 & 8))
Tesco CC £40 (minimum)
Egg CC £88 (minimum)

Tesco CC Balance £1238 (limit £1250) 16.9%
Egg CC Balance £4338 (limit £4400) 19.9% (this seems to have just shot up by 3%)
Additional problems, I spend too much on wine (someone tell me not to, please) and I keep going overdrawn and getting charged £25- £75 for this. I claimed back £880 from HSBC in May:T, but since then have been charged another couple of hundred.

It has taken me a long time to emotionally face how much I owe (and the problems I had whilst I was running them up) now I really want to get a handle on this and get rid of the debts - any suggestions?

Thanks in anticipation!

rog2

Well done, gss, on posting your SOA - you have taken, probably, the most difficult step in your journey towards sorting out your debts.
A warm welcome to 'DFW' and you will soon be inundated with afvice.
SOA's are not my strongpoint, but I'm 'bumping' your thread back to the top, so the more experienced posters can help you.

Good luck

tealady

Hi just an off the wall thought. If you spend a lot on wine have you thought of making your own. Try freecycle or local free ads for kit, borrow a book from the library and give it a go.

getting-sorted-sarah

Thanks both! Tealady that is one I hadn't thought of... have started making jam and chutney, maybe wine should be my next project!

Sagaris

I can recommend home wine making! Used to make loads of it years ago - the old house I used to live in had a cellar, very handy!
You can get starter kits from Boots quite cheaply now (left over from Christmas) containing everything you need (except for sugar) and with the glass demi-john so you can start it straight away. Good luck - and remember, the home made stuff is generally stronger than shop bought!

tealady

And if you do it the MSE way you walk whilst gathering fruit in season (sloe gin anyone or how about elderberry wine)

getting-sorted-sarah

I have to say - this is not the advice I was expecting! But thanks - I shall def check out what there is in Boots!

MissEyre

getting-sorted-sarah wrote: »

I know this is almost text-book - been hanging about the forums for a while, started trying to help myself, and now it is time to see if anyone can offer any suggestions to help a bit more. I hope some of you are not too tired repeating yourselves to newbie DFWs like me!

I don't know what SOR stands for (duh) - but I am pretty sure that this is one:
(oh oops yes, state of affairs!!!)

Monthly Income (inc Salary, Child benefit, Child Support, Tax Credits and some Housing Benefit) = £1943

Monthly Outgoings
Rent £719
Council Tax £89Can you pay this over 12 months instead of 10-most councils happy to do this
Loan £282 (5.99%, last payment in Aug 2010)
Car Ins £25 Cheapest provider?
Car tax £10
Car general £30 (estimate - MOT etc) Are tax and MOT being put into a separate account?
Petrol £50 Can this be reduced?
TV licence £12
Mobile £30 (inc insurance - contract up in a fortnight, intend to renegotiate down to £15) Good!
Broadband £10
Contact lenses £20 Can you get these any cheaper? eg. monthly disposables rather than dailies, for example
Gym £26 Cancel this
Gas & Electric £33 This is really cheap-are you sure you are paying enough?
Water £25 (on meter) Good
Food £250 (me and 2 kids (18 & 8)) This can be reduced-why not join the Grocery Challenge on the Old Style board?
Tesco CC £40 (minimum)
Egg CC £88 (minimum)
Total monthly outgoings £1739

Leaves £204 per month for extra debt repayments

Tesco CC Balance £1238 (limit £1250) 16.9%
Egg CC Balance £4338 (limit £4400) 19.9% (this seems to have just shot up by 3%)


And because you asked- STOP SPENDING MONEY ON WINE!

Start keeping a spending diary and keep all of your receipts-you have money that is not accounted for in your SOA, so shouldn't be going overdrawn, so you need to work out where its disappearing to. It's going to be fine, but you will need to be quite strict with yourself if you really want to clear those cards

Sagaris

Elderberry wine - very good but massive hangover!
Elderflower wine - excellent, but my ex DH decided to bottle it before it had finished fermenting - luckily it went in the cellar - we had unintentional sparkling wine, but lost a few when the corks flew out - none exploded luckily. The best wine we've ever made though!
The worst? Coffee wine - his idea!!!!

getting-sorted-sarah

tealady wrote: »

And if you do it the MSE way you walk whilst gathering fruit in season (sloe gin anyone or how about elderberry wine)

And sort out some Christmas presents for next year at the same time!

MissEyre

[quote=
The worst? Coffee wine - his idea!!!![/quote]

:rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: :rotfl: