My debt diary/SOA

jammiejen

Hi everyone!

I've posted my SOA before but I've done some work on it now and I thought I'd do it again in case anyone can see anything I can't

Incomings
£861.00 (but soon to go up by about £30 as finishing probation)
plus overtime each month of £100 - £300 haven't included this

outgoings
Mortgage £254.54
Rent £164.13
Council Tax £87
Water £30
Gas £22
Electric £23
TV licence £11.65
Phone and Broadband Tiscali £35
Pension £10.00
Contents £8.11
Life Insurance £7.40

Total £652.83

Debts
Mortgage arrears £116.65 4 monthly payments of £26.16 to clear it
Asda Credit Card £87.95 0% Minimum about £15
Goldfish credit card £1848.85 at 3.9 for 33 months I guess Minimum about £60?
OH £350 0% £20
Debt Repayment £121.16
Total outgoings £773.99


Leaving £87.01 a month

A few points. I haven't included food because I usually work out how much money I have for the month and give myself a budget of £20 a week for everything.

Car costs haven't been included because insurance is paid until March. Tax is due in Feb and I will use the 2 months from the council tax free months to pay for it. About £35 of petrol lasts me about 6 weeks and since I'm not drinking at the min my OH has been paying for this as I drive him everywhere. If the car breaks I'll just not use it as I don't need it to get to work and I hardly ever use it.

Mortgage arrears - From when I moved in 18 months ago! I called up last month to change my payment date and they said oh you owe us £116! Apparently its the difference for the month i first moved in and they told me about it in a letter they sent a month after and then not mentioned it again! Thankfully they haven't added any interest and I'm paying it back over 4 months.

The water bill is high as I had someone living with me and it is their usage calculator based on that time, I'm expecting to be in credit!

I can't have someone living with me again unfortunately as my Dad died a little over a month ago and my brother needs somewhere to stay when he is back from Uni as he can't stay in the house on his own.

I think thats everything, thanks for reading if you have stayed awake this long!

Jen

x

roomontheend

welcome, I am new to this 'game' to but I am sure someone will be along soon to help you. There a great bunch round here. They will sort you out in no time.

Lilman

Hi jammiejen

You will get so much help and support from here. I am a newbie too. Couple of questions. Why are you paying rent and a mortgage. Can your brother contribute with a job when not at uni. You are certainly thinking about using spare cash ie council tax free months to pay for annual bills. Good thinking this always helps. I do this too.

There are so many people out there that will come up with some great ideas so just keep sticking stuff on and we will do our very best to help.

pania

hiya there jen and welcome to the boards sweetie. Welldone for posting your SOA and fab news on being just a little in credit each month. But please please hon take heed, I used to work my budget out excluding food, excluding christmas, excluding haircuts and excluding socialising. I ended up knack ered each month as it was creating a false impression of my finances. yep it is scarey to see a red figure on the budget planner, or a negative on the piece of paper you were writing on but create a true picture including the food including the monthly amounts for birthdays etc and including your going out costs with OH.
I hope that all goes well and there is so much you can do to boost your income with very little effort. those debts will be gone before you know it!
xxx

jammiejen

Lilman wrote: »

Hi jammiejen

You will get so much help and support from here. I am a newbie too. Couple of questions. Why are you paying rent and a mortgage. Can your brother contribute with a job when not at uni. You are certainly thinking about using spare cash ie council tax free months to pay for annual bills. Good thinking this always helps. I do this too.

There are so many people out there that will come up with some great ideas so just keep sticking stuff on and we will do our very best to help.

Hi there,

I pay rent and mortgage because its a 50/50 shared ownership with a housing association, its probably more expensive in the long run but at least I am on the property ladder so to speak!

Will speak to my brother when he comes back for Easter, I think he has about 5 months off over summer so he can definitely help out then!

Thanks for your comments.
Jen
x

jammiejen

pania wrote: »

hiya there jen and welcome to the boards sweetie. Welldone for posting your SOA and fab news on being just a little in credit each month. But please please hon take heed, I used to work my budget out excluding food, excluding christmas, excluding haircuts and excluding socialising. I ended up knack ered each month as it was creating a false impression of my finances. yep it is scarey to see a red figure on the budget planner, or a negative on the piece of paper you were writing on but create a true picture including the food including the monthly amounts for birthdays etc and including your going out costs with OH.
I hope that all goes well and there is so much you can do to boost your income with very little effort. those debts will be gone before you know it!
xxx

Thanks pania,

I know what you are saying and it is scary! I would get another job if I could but at nights I am so knackered and then Saturdays I work all day os overtime and Sundays I help OH with the house he is building, he does usually give me £30 for it, maybe once we are moved in and the place is finished I can look at it.

I'm hoping I can quidco and pigsback my way on birthdays and Christmas but i guess I can't really rely on that too much...
thanks again

Jen
x

pania

Been there done that sweet so a massive hug to you.

Best to factor it in then any pigsback or quidco you get can be seen as a bonus rather than a worry if you don't have it.

Have a look at the "up your income" section of the boards further down from the DFW thread. lots on there you may be able to use which doesn't involve a second job.
Also take a look at the freebie board, lots there to get to cut down on costs, i've had shower gels and things like that before, may only be cutting out a small cost but it saves you buying it!!

Have a great rest of the evening! XXX

Have a great evening and

MrsB68

Welcome to the board from another Newbie!

I am struggling finanically too and within the last 3 days of spending time going through some of the threads on here I have done the following;

Registered and been accepted with 4 Mystery Shopper Companies and I have two jobs lined up.

Joined Slicethepie, Pigsback (both of which you earn points/cashback.

Applied with 2 Companies as telephone / text operators for Chatlines.

Opened another bank account to separate my bills/loans from my savings for xmas, presents, car tax, holidays etc.

May be you could look at extra some extra income in and managing your money better.

Good Luck!

tealady

Hi don't forget to ask the Council for the 25% discount as if he is a student he doesn't count for Council Tax so you will be treated as if you live on your own.

jammiejen

tealady wrote: »

Hi don't forget to ask the Council for the 25% discount as if he is a student he doesn't count for Council Tax so you will be treated as if you live on your own.

Hi there thanks, I was getting the 25% anyway, but I'll let my mum know she might be able to claim so of it back.
Thanks for your comments

jen
x

jammiejen

Hi all,

OH still in Germany so not planning on doing anything tonight again although his flight lands this evening so will probably see him tonight. Had a talk with him before he went about our finances and I don't think he understands, but at least he can't complain he does know right?!

Had a nice long talk with mum last night she is getting the money from dads estate sorted out and will give me some if she can after all the bills and the mortgage has been paid off, I feel a bit sorry because I wasnt asking for any money and I don't expect her to help me out as this was all my own fault! But I guess its there if I need it.

Trying to be a bit more positive about 2008, last year was appalling, but I'm finding it kinda hard at the min
hope everyone is having a one than me

Jen
x