Immoral Angel's Debt Diary - Part 16,342...

immoral_angeluk

Here's an SOA I've just put together to take into account nursery fees and what entitledto says we'd get in tax credits....

Income (not including Ann Summers)
Ste (Should go up soon) - £940.41
Me (changing to monthly pay from april :undecided) - £119.60
Tax credits (based on 4 weds month) - £568
Child benefit (new amount from april) - £125.05
= £1753.06


Bills (Direct debits etc)
Nursery fees (Based on max ie during summer with no funding) - £328.50
Rent - £307
Council Tax - £108
Water - £17.18
Tv licence - £11.61
Contents insurance - £5.28
Phone, line rental, broadband and calls - max £35
Gas and electric - £55
Car insurance (full comp for me and Ste, 4 yrs no claims) - £34.15
Ste 02 - £35
Sar Orange - £35
Cat insurance - £6.36
= £977.87


Debt -
Welcome Car Finance (hp) - £160.50 p/m (24.1% APR - £4911 left)
TV finance - On 0% buy now pay later til Oct - £0 p/m
Egg card 16.9% - currently £322 / £15 a month
(We usually pay it off in full but this month has been particularly tight and crap.. hence the £322 on it we can't afford to clear this month because of nursery fees... but I'm including it in here just for the record. It's first on my 'to clear' list with any Ann summers profit.)
= £175.50

Other -
Food (based on £50 a week) - £216.50
Petrol (estimate as soon to start volunteering for CAB) - £150
Band Practice - £43.30
Ste weekly budget - £43.30
=£453.10

= £146.99 leftover for everything else, including a social life, treats, misc spending, birthdays, debt overpayment...etc..etc...

:undecided

jacs76

hello:hello:

IA in all honesty that doesn't look bad at all really.

taking into account they are the max nursery fees ie that could be going on egg repayments in the meantime etc and you are allowing yourself a life by paying for band practise you have done bleedin well :T

jacs76

also the petrol may be an over estimate and you may have a bit to play with there too.

Bunnyinthelights

Sar,
Once you are being proactive and getting parties from AS you be getting some more money-although Party Plan is notoriously sporatic and difficult to plan into budgets (hence my debt..)
I woul decide how much money a week you would like to make REALISTICALLY and then assess how many parties that will be. DO NOT depend on your manager to pass you parties-you must do that yourself.
Talk to everyone and dont pass one chance to book something-start looking at local 'Ladies Nights' etc.
You can succeed but it is hard work and you have to be prepared to take the bad times along with the good...
I hope that doesnt sound negative?

immoral_angeluk

Oh I know... It's just getting my feet off the ground! lol!

LouiseJ

Are you and Ste both on contract phones with Orange and 02 is there no possibility of PAYG? £70 on mobile phones a month Ouch!

Childcare costs are a real killer aren't they.

New flat tax rate will be 20% from 6th April so try and put away this amount off yor AS profit if you can. You can also claim for fuel allowance to and from parties @ 40p per mile so keep track of any business miles you do even just to pick up new kit and going to freecycle to get the clothes rail.

There are loads of things you can claim for Sar to keep tax down to a minimum. You can also claim for any mobile calls you use for AS correspondance. You can PM me if you are unsure about what you can or can't claim for as each receipt/unclaimed expense is money in the taxmans pocket and will affect your Tax Credits when you declare profits from self employment.

Bunnyinthelights

It's always the hardest bit-
Have you done a contact list with at least 20 people on it?
You also NEED to speak to people, texting will not get you parties (normally, but I am exception to the rule as I know party plan)
And don't ASK people, TELL them they are having a party for you, and give a date when. (and I don't care if that sounds AMERICAN! You know who you are...)

I will dig out some stuff for you if I can find it that will hopefully help.
x

immoral_angeluk

LouiseJ wrote: »

Are you and Ste both on contract phones with Orange and 02 is there no possibility of PAYG? £70 on mobile phones a month Ouch!

Childcare costs are a real killer aren't they.

New flat tax rate will be 20% from 6th April so try and put away this amount off yor AS profit if you can. You can also claim for fuel allowance to and from parties @ 40p per mile so keep track of any business miles you do even just to pick up new kit and going to freecycle to get the clothes rail.

There are loads of things you can claim for Sar to keep tax down to a minimum. You can also claim for any mobile calls you use for AS correspondance. You can PM me if you are unsure about what you can or can't claim for as each receipt/unclaimed expense is money in the taxmans pocket and will affect your Tax Credits when you declare profits from self employment.

I did have a pay and go phone.. but it was faulty so got a refund and then got my new contract through e2save to get a free laptop plus cashback from quidco

immoral_angeluk

Bunnyinthelights wrote: »

It's always the hardest bit-
Have you done a contact list with at least 20 people on it?
You also NEED to speak to people, texting will not get you parties (normally, but I am exception to the rule as I know party plan)
And don't ASK people, TELL them they are having a party for you, and give a date when. (and I don't care if that sounds AMERICAN! You know who you are...)

I will dig out some stuff for you if I can find it that will hopefully help.
x

Thanks hun

LouiseJ

immoral_angeluk wrote: »

I did have a pay and go phone.. but it was faulty so got a refund and then got my new contract through e2save to get a free laptop plus cashback from quidco

Nice One:T