Weegie DFW - starting again.

weegie-dfw

Right here we go again! Me and OH thought we'd sorted all this out, however due to unforseen circumstances we haven't - so starting again to get rid of the debt that is left.

Back in October we were over £30,000 in unsecured debts, however I'm now working full-time and we took out a joint mortgage which allowed us to pay off most of the debt. It didn't quiet cover what we had (due to us not calculating the fees and a couple of forgotten debts in), we then had a few months were OH wasn't earning that much and the extra work I was doing I have only just been paid for (only took 3 months :mad: :mad: ). So we ran up some more debts at that time.

So total debts are at £9,141.25 aim to pay these back by January 09.

BoS Loan £1,138.79
Lloyds CC £316.46
BoS CC £1,300.00
Egg £3,446.00
RBS o/d £480.00
BoS o/d £1,500.00
Lloyds o/d £500.00
cahoots £460.00
£9,141.25

Income
Me £1650
OH £850 (estimated as he works freelance)

Expenditure
Mortgage £595.00
Council Tax £120.00
Gas/ Electricity £70.00
phone/ internet £17.00
mobiles £100.00
Union fees £10.00
Food £150.00
RAC £26.00
Car Insurance £27.00
NI £11.00
Travel £100.00
Emergency £50.00
Going Out £100.00
Essentials £30.00
BoS loan £295.00
Egg £100.00
BoS cc £50.00
Cahoots £50.00
RBS O/D £50.00
Total Expenditure = £1951

Balance = £549

The mobiles bills are high, but got another 4 months left in contract before can change over, everything else as cheap as I can get them.

The first thing to pay off is the BoS cc as it has the highest interest rate. I have an extra £1000 this month as I've just received, however I need to get the car MOT'd and car tax, allowing £400 for repairs etc.

I've had a good day today only spent £2 on bus fare, I took my own lunch into work and I spent £15 on food shopping that should last me until Monday.

So here we go again!:money:

weegie-dfw

OK off to a good start, just switched my gas & electricity over using quidco - so should save £250 per year on the bills and have £60 tracked in quidco!

Working from home today - so should have a no spend day - plenty of food in. I'm also going to look out statements from an old credit card that I was paying PPI insurance on so should get back a couple of hundred £s from that if successful.

Have a good day!

vonph1

RAC seems quite expensive, any way to cut that back?

weegie-dfw

Actually looking into a deal with my bank that means I would get it for £10 per month, along with discounts on other things like car insurance, home insurance, % free part of overdraft - got a review next week with them.

fatbelly

vonph1 wrote: »

RAC seems quite expensive, any way to cut that back?

Buy basic cover through Quidco £33 with £21 cashback = £12 for the year

weegie-dfw

Thanks fatbelly - I'll have a look into that!

weegie-dfw

Just checked our accounts and there is money left in OH's to pay some extra to the Lloyds TSB CC and payment left my account for egg, so that's 2% of the total debt paid off! And under the £9000 mark!

weegie-dfw

I got my wages on Friday and the cheques for my freelance work cleared. So I have paid a few bills today:

• RBS O/D - £480 so that's completely cleared:j
• Cahoots - £60 balance now £400
• BoS CC - £100 balance now £1200

I've done up my letter to Beneficial asking for my PPI insurance back, that comes to just over £200 and then I have calculated £225 in charges on the card also, so will do up that letter tomorrow.

Having a no spend day today, went out for dinner with friends last night and spent more than I meant to - however I'll make up for it the next couple of days.

weegie-dfw

Actually just made another payment to Lloyds TSB CC which means that's also paid off and our debt total is £8084.79 which is 12% of the total debt! Very good feeling.

simongregson

weegie-dfw wrote: »

Actually looking into a deal with my bank that means I would get it for £10 per month, along with discounts on other things like car insurance, home insurance, % free part of overdraft - got a review next week with them.

Or see Martin's article on breakdown cover. We use AutoAid, you get homestart, recovery, roadside repair, onwards travel and accommodation if needed, for £34 per year, for two people (must be partner). The difference is that you pay for the callout yourself and claim back. You can get their call centre to send someone or just use a local firm and send Autoaid the bills.

Feedback seems to be they send you the money back quite quickly, although we haven't had to call them out yet.

weegie-dfw

Well that's another £295 paid to the RBS loan - hooray. OH back and it looks like it's going to be a busy few months, so hopefully be able to pay off the debt a bit quicker! Still to work out the details.