Goals, hopes and dreams

itsthelittlethings

I have some mould in the corner of my flat. It's just a tiny bit, probably because I dry clothes on a rack indoors. We have no outdoor space for drying clothes. I am going to get a new washer in the not too distant future and am semi debating getting a washer dryer. I don't like them for ecological reasons and because they damage your precious clothes but the mould is a bit unappealing. It would also be lovely not to be tripping over a permanently out clothes horse too.

itsthelittlethings

A few spends today. £40 power cleaning tool to get my bathroom sorted, £15 crochet wool and hook. £20 Aldi.

[Deleted User]

You seem to have a lot of incidental spends. Are you working to a budget? Why not pay off your two credit cards with your savings and have done with them? Your diary at the moment seems more about spending than saving. It all seems a bit random. What target have you got for your savings?

itsthelittlethings

[Deleted User] said:

You seem to have a lot of incidental spends. Are you working to a budget? Why not pay off your two credit cards with your savings and have done with them? Your diary at the moment seems more about spending than saving. It all seems a bit random. What target have you got for your savings?

I fully own fifty per cent of a shared ownership flat and pay no rent the other half so I have spare cash. I struggle to set and stick to a budget. I think I have unrealistic targets savings like 80k by retirement (20 years).

I think you're right that I need to get into a savings mindset rather than a spending mindset. But how?

itsthelittlethings

[font=courier new][b]Statement of Affairs and Personal Balance Sheet[/b][b]

Household Information[/b]

Number of adults in household........... 1

Number of children in household......... 

Number of cars owned.................... [b]

Monthly Income Details[/b]

Monthly income after tax................ 1700

Partners monthly income after tax....... 0

Benefits................................ 0

Other income............................ 0[b]

Total monthly income.................... 1700[/b][b]

Monthly Expense Details[/b]

Mortgage................................ 0

Secured/HP loan repayments.............. 0

Rent.................................... 0

Management charge (leasehold property).. 165

Council tax............................. 125

Electricity............................. 65

Gas..................................... 0

Oil..................................... 0

Water rates............................. 0

Telephone (land line)................... 0

Mobile phone............................ 17

TV Licence.............................. 15

Satellite/Cable TV...................... 0

Internet Services....................... 25

Groceries etc. ......................... 250

Clothing................................ 75

Petrol/diesel........................... 0

Road tax................................ 0

Car Insurance........................... 0

Car maintenance (including MOT)......... 0

Car parking............................. 0

Other travel............................ 30

Childcare/nursery....................... 0

Other child related expenses............ 0

Medical (prescriptions, dentist etc).... 25

Pet insurance/vet bills................. 0

Buildings insurance..................... 0

Contents insurance...................... 7

Life assurance ......................... 0

Other insurance......................... 0

Presents (birthday, christmas etc)...... 20

Haircuts................................ 20

Entertainment........................... 45

Holiday................................. 55

Emergency fund.......................... 300[b]

Total monthly expenses.................. 1239[/b]

[b]

Assets[/b]

Cash.................................... 2750

House value (Gross)..................... 125000

Shares and bonds........................ 0

Car(s).................................. 0

Other assets............................ 0[b]

Total Assets............................ 127750[/b]

[b]

No Secured nor Hire Purchase Debts[/b]

[b]Unsecured Debts[/b]

Description....................Debt......Monthly...APR

Credit card 1..................600.......7.........17

Credit card 2..................630.......17........0[b]

Total unsecured debts..........1230......24........-  [/b]

[b]

Monthly Budget Summary[/b]

Total monthly income.................... 1,700

Expenses (including HP & secured debts). 1,239

Available for debt repayments........... 461

Monthly UNsecured debt repayments....... 24[b]

Amount left after debt repayments....... 437[/b]

[b]Personal Balance Sheet Summary[/b]

Total assets (things you own)........... 127,750

Total HP & Secured debt................. -0

Total Unsecured debt.................... -1,230[b]

Net Assets.............................. 126,520[/b]

[i]Created using the SOA calculator at www.LemonFool.co.uk.

Reproduced on Moneysavingexpert with permission, using other browser.[/i][/font]

itsthelittlethings

Am going into town early to grab a coffee before work (£3). If only there was a section in an SOA for coffee.

[Deleted User]

Why do you not pay rent on the 50% of the property you do not own? If you are serious about saving, £3 a time coffees will not help ! You could be spending £60 a month on them! Your mindset needs more willpower. May I ask how old you are?

[Deleted User]

Is the £125000 the total value of the house or your 50%? If it is the total value, it is only a  £62500 asset for you.

Skint_yet_Again

Hi itsthelittlethings you may find this a quiet corner of the forum there may be more help on the debtfree board if you would like to move your diary just ask a board guide. 

I’ve had a look at your SOA and these are my thoughts, feel free to ignore. I am no debt expert. 

I see there is no water bill, are you in Scotland- I assume it’s included in your council tax. 

You show a £300 a month emergency fund is this the cash on your SOA.

You have shown credit card £24 a month but I believe you mentioned paying £100 a month?

Entertainment only £45. You could increase this to Include your coffees or include them as a separate item. You need to include everything on the SOA. 

I would pay off the 17% credit card first. How long is the other card at 0% ?

You have a good amount left per month £437 so you could increase your payment to credit cards. Do you know why you have credit card debt and have you addressed this to stop it happening again or was it one off purchases on 0% and not paid off before the 0% ran out? 

Clothes could maybe be cut to zero for a while to help pay off the debt. 

Maybe include an amount for household items such as the cleaner you bought for your bathroom. 

Good luck with it all. 

itsthelittlethings

Yawn. Just chilling around before work. I won't go and buy a coffee today although it was nice yesterday. I even bought a naughty tuna sandwich for lunch, I never buy take out lunch! I also bought birthday presents for a family member in WH Smiths, their birthday is not till July so it'll be a nice surprise not to have to buy them when I get there.

I'm so so glad it's Friday. Need to buy coffee filters tonight. I got a voucher for about £15 off a delivery £60 Sainsbury's shop yesterday.  It was just left on the till but I think it's OK to use it? I might eat up the freezer and the cupboards till payday then get a big shop in. I can get two weeks fresh food because everything stays fresh for so long nowadays, and then cook for the freezer.

It's the 14th today so it's basically two weeks to payday. Apart from a meal with a friend who gave me a missed call on Wednesday, I don't see any spends coming up.