Getting out of debt poppy style

poppy_the_saving_cat

Time to organise my life and get out of debt. Currently single and in debt to the tune of around £21000, had my wake up call this morning when i got to work and my card was declined for a coffee had to borrow the money off a work collegue. Tomorrow i will raid my piggy bank and buy a flask and start making tea and coffee for work and also packed lunch every day instead of just once or twice a week! xx

Brie

Well done for starting this journey.  Wishing you every success.  

poppy_the_saving_cat

Hi everyone x Thankyou Brie for the welcome x
Not much money available this week until pay day on Thursday. i cant pay anything by card so have counted money in my piggy bank and it totals to £14.38, i need some to buy a cheap flask (not sure how much they are in Home Bargains £5-£8 im thinking? ) so about £6 for food this week which should be doable as ive got stuff in freezer and plenty of pasta and rice, should have enough milk and bread. I travel to work by bus so pass paid up until end of month ( had to give my car up, couldnt afford it ) Im going through my money properly this afternoon properly xx

1stTimer

Hi and welcome

Try filling in this SOA, this is always a good way to start tracking your money and looking at what you can cut back on https://lemonfool.co.uk/financecalculators/soa.php

wishing you lots of luck, you’ll get lots of good advise on here

poppy_the_saving_cat

[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......... 0

Number of cars owned.................... 0[b]

Monthly Income Details[/b]

Monthly income after tax................ 1680

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

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

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

Total monthly income.................... 1680[/b][b]

Monthly Expense Details[/b]

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

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

Rent.................................... 750

Management charge (leasehold property).. 0

Council tax............................. 120

Electricity............................. 30

Gas..................................... 30

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

Water rates............................. 22

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

Mobile phone............................ 19

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

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

Internet Services....................... 32

Groceries etc. ......................... 30

Clothing................................ 20

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

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

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

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

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

Other travel............................ 64

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

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

Medical (prescriptions, dentist etc).... 0

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

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

Contents insurance...................... 0

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

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

Presents (birthday, christmas etc)...... 40

Haircuts................................ 4

Entertainment........................... 50

Holiday................................. 100

Emergency fund.......................... 50[b]

Total monthly expenses.................. 1376[/b]

[b]

Assets[/b]

Cash.................................... 2300

House value (Gross)..................... 0

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

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

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

Total Assets............................ 2300[/b]

[b]

No Secured nor Hire Purchase Debts[/b]

[b]Unsecured Debts[/b]

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

halifax loan...................6000......50........7.4

credit card....................8400......96........8.8

2nd credit card................6600......54........9.1[b]

Total unsecured debts..........21000.....200.......-  [/b]

[b]

Monthly Budget Summary[/b]

Total monthly income.................... 1,680

Expenses (including HP & secured debts). 1,376

Available for debt repayments........... 304

Monthly UNsecured debt repayments....... 200[b]

Amount left after debt repayments....... 104[/b]

[b]Personal Balance Sheet Summary[/b]

Total assets (things you own)........... 2,300

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

Total Unsecured debt.................... -21,000[b]

Net Assets.............................. -18,700[/b]

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

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

1stTimer

Your SOA looks good 👍 

A few things I do to bring in some extra cash is surveys, bank switches and I see a lot of people on here sell bits on Vinted and eBay etc. 

looks like you are doing all you can so wishing you luck and will be following 

Ordinary_Yet_Unique

£30 a month on groceries? Is that figure correct? 

Sarahwithlove

Your budget looks very tight and unrealistic. Have you gone back through your spending over last few months to get a more accurate idea. £30 a month on groceries doesn't seem realistic even if you're living off most basic foods. 

Ordinary_Yet_Unique

Hopefully OP will be back sometime to update on plans and progress.