SOA's - please be honest!

_-*Sally*-__3

Does anyone else have trouble working it out !! I am having a complete nightmare!!!!

I have been trying to work mine out for about 2 weeks now -and I dont feel that I am that much closer to getting there !!

I have been REALLY rubbish with my money up until now - in that I have just gone and bought petrol/food etc when I need it - clueless how much I spend on a monthly basis !!

Annual things - I dont know when they turn up - we just put it on a CC when it does - or pay it if we have the cash.... Looking on here at other SOAs has given me the kind of info I need - which is fantastic - but PHEW its a long slog getting to that point!

I think on AVERAGE we probably live within our means - and it is the big purchases on CCs which has sent us over the edge.... but I might be wrong - I dont know!!!

At this rate it is going to be months before I can actually post an even moderately acurate SOA !!

Anyway - no idea why I am posting really - I guess its to say I am still here, still a newbie, and still very much reading and learning LOADS from here - so a bit thank you to you all for posting such interesting and helpful stuff!!

beemuzed

Yep - I decided ages ago that if I waited until I could work out an accurate SOA to start moneysaving I'd never get there! So, I just began to follow loads of the suggestions made to others and can definitely see I'm making progress. I think I'm just too lazy to make the time to really sit down and sort it all out. Still, as I say, I am trying out loads of ideas, the cc debts are going down and the money situation is improving. Keep at it!

Welshlassie

Hi
Have a look at Martins Budget planner. It is really useful for working things out on a monthly/weekly basis including all those annual expenses. I've just recently completed it to ensure that we can afford for my husband to give up work to look after our son. It has helped realise that we are going to be just under £400 a month short, so he's had to find a income somewhere, but it means we have somewhere to look at areas we can cut back.
Good luck getting it sorted it is worth it in the end.

Snaggles

Hiya!

If you can't get it exactly right to start with, just add the things that you ARE certain of, and put question marks for the rest, or post it here and we can see if we can spot anything obvious you have forgotten.

MissKJ

go and grab all the paperork you have, then spred on the floor and put in piles for each thing...cc's....utility bills etc. Bin nything more than say 3-6 months old. Now put each pile in orde most recent on top. Get a highlighter pen or something and highlight the monthly amounts and amount owing. Now write it all down in 2 columns.


cost per month.................amount outstanding..............APR if applicable.

That will probably take a few hours....and you may freak out, but have a scream and get back on here for your next step......hope that helps? Start in the morning? Have a good sleep tonight and be determined to have your plan by this time tommorrow night for the week/month ahead. Good luck.

MissKJ

sorry thats 3 columns!!!

In_Search_Of_Me

Have you kept prev CC or bank statements? I would suggestthe following to get you on the straight & narrow!
1) Start a spending diary to record EVERY penny you spend
2) List DDM's and then have a seperate acount for regular outgoings averaged over the year but make sure you dont go into unauthorised o/d
3) Use cash for groceries - I did last month & spent much less than when I use a card. Am now quite fond of my separate grocery budget purse!
4) Sit down & wrk out your debts! Scary but necessary for spurr you on! Its when you know what youre dealing with that you move on! Welcome & feel free to ask questions!

ltm07

Sally OH & I have one or two bills that come out of Bank anually. The best advice i can give is to divide this into 12 so you know that the cash will be there when your annual bill turns up(i.e. House Insurance £220/12 =£18.33). Work out every bill as monthly,our phone bill is usually around £70 a quarter so we divide £70 by 3. It works for us anyway. Good Luck.

_-*Sally*-__3

Thank You fo replies !
Great tips here - Bemuzed - that is what I am like!

WelshLass - I will do the budget planner - sounds good -but not just this minute
In Search Of Me - will do a grocery purse too - thats a brilliant idea (she says DESPERATELY trying to convince herself that this ISNT an excuse to go and buy another purse - one of my weaknesses! :D:D:D!!!

In_Search_Of_Me

Dont worry think we're all a bit like that or we wouldnt be here & f it makes you feel any better that was my first thought!! I've oaid for the purse by spending much less last month. Trust me when you pay cash you really do think about what goes in the trolley! ALso try batch cooking - much cheaper, healthier & nicer than ready meals. I couldnt eat them now! Old style board (see main menu!) has lots of hints!