enough is enough

debtmuncher

Robflh wrote: »

Hi debtmuncher

Firstly, do not cut up your credit cards. Stop using them but do not cut them up.

Secondly, you are paying car insurance but nothing for car tax. Cars have to be taxed and insured.

Your monthly SOA expenditures are what you pay for things annually divided by 12 and includes loans and credit card payments. You can do the same thing for benefits (annual divided by 12). For credit cards you put what the minimum payments are.

Debt Section.
For loans, state how much the loan was for, the outstanding balance, how many months left and the APR.

For credit cards, state what the credit limit is, the outstanding debt and the APR. If you have cash withdrawals and purchasers on the same card, put the amount you have for each and the appropriate APR.

I need to see four totals on an SOA, income, expenditure, debts and assets.

For me the current SOA is a little confusing, can you delete it and redo it. Only put what your expenditures are. Do not put that you pay nothing for this and that.

Can you put a , after thousands (£10,000) and using dots as you have done, can you line up the decimal points as best you can.

Preview it before you post it, as they will move and then you have to readjust them. It is fiddly to do but it makes it a lot easier to see what is going on.

we do pay car tax its just not budgeted for monthly thats all...tends to come out of the extra in the wages.

will do soa again but not using the soa site...cant do it till either late tonight or in the morning.

many thanks!

Clariman

GeorgeUK wrote: »

Looks like a job for Clariman.

I inputted the figures and fudged a guess at some of the minimum repayment rates. I get the same - last 3 columns are blank. if we guestimate 17% for these, which is lower than anything else you have...



£25.22 first payment to Vanquis

Hi GeorgeUK. What's the problem? Is there a bug in the calculator? I mentioned the "NaN" issues in a post which crossed with yours, so hadn't seen your post when I wrote that one. Was that the issue or is there something else I need to look at?

Clariman

GeorgeUK

No problems Clariman. Just me running off at the mouth.

I inputted the data as it was given and the last 3 columns were blank. the money for these was then given to the account with the highest APR. There was no interest rate given in those 3 which would be why they were blank. Just didn't tidy up what i was saying. Sorry about that.

Robflh

Hi debtmuncher

It does not matter where the money comes from to pay for the road tax or anything else, it must be recorded in your SOA as a monthly figure.

If you do not know exactly what the fuel, electric, gas and food bills are each month you can put a guesstimate as to what they are. From now on, you will be keeping a record of what they are and adjusting the amount accordingly.

Anything else like haircuts, have to be recorded. You might only go as and when you have to but you will spend an amount on hairdressing each year.

Some things cannot be budgeted for. Any one of a number of electrical appliances could snuff it tomorrow and you would have to buy a new one.

If you do not have spare cash to pay for it, you have to use a credit card or get a loan. In time, you will have an emergency fund for such things but for now, that is one luxury you cannot afford.

Some months you pay out more and some months you payout less and the same goes for income. Your SOA shows the average amount that you have coming in each month and the average amount of money you have going out each month. It is NOT how much actually goes in and out each month.

When you redo your SOA is not important so take your time.

Remember, somethings are too small for the SOA. The ice cream you bought on a hot day or the the cheap pen from the local shop. These can be recorded in a spending diary and then at the end of the month you can record the total for the month in your SOA.

debtmuncher

wednesdays ramblings

hate this soa palaver.....when i click format for mse it comes up as it did before so having to or was trying to look better by deleting the dotted lines etc....whats annoying me even more is nothing is lining up nicely. its completely shattering me out.

thought of the day is how do we get stuck into following the budget when we are kind of behind with the bills ...only in arrears for two (black horse and kays) so need to get that sorted out but all is fine. the other thing i need to add is that nothing for overdraft charges so need to put that in somewhere.

a break is required...also discovered i get really cold when i sit at the pc so need a blanket rather than putting the heating on!:eek: ps the arrears with kays were meant to be agreed to only we received a letter saying they are concerned that the payment is less than the amount requested on previous statement. i phoned up twice saying we could pay the £100 rather than the £150 as per statement and they said fine...so what the heck is going on now. still no follow up to the next palaver off to the bank later today for that one. oh and even credit experian is playing me around! inputted dh info but when i went to do password and username it came up as being unknown so sent for details via email ...email not come yet and that was an hour ago....grrrrr.

GeorgeUK

Debt muncher, how does it line up if you paste straight in the MSE format and preview the post? There's a difference in how various forums display internet pages and i'm pretty sure Clariman tried to get everything lined up when creating the calculator. What you see in the message box may not be what appears when the post becomes an actual post. Try using the preview - or go advanced and preview. Keep the dotted lines in.

GeorgeUK

If you are making payment arrangements, i would make sure you get it in writing rather than incurring more charges or defaulting. You will always want proof of what has been agreed, so i suggest writing and sending a letter recorded delivery requesting confirmation that the agreement is in place. Then you will have something to fight back with if things go wrong.

Humee

Hi there

I'm really new to forums and stuff, so feel a bit bamboozled at the moment.:mad:
You might have guessed this as I've attached this post as a reply!

I'm trying to lodge my bank charges reclamation asap but can't find the calculator. Martin's website has got the court interest calculator but I can't find the charges calculator - I was told there was one on the site.

Somebody help me please! :eek: I wanna be debt free too!!:A

debtmuncher

Humee wrote: »

Hi there

I'm really new to forums and stuff, so feel a bit bamboozled at the moment.:mad:
You might have guessed this as I've attached this post as a reply!

I'm trying to lodge my bank charges reclamation asap but can't find the calculator. Martin's website has got the court interest calculator but I can't find the charges calculator - I was told there was one on the site.

Somebody help me please! :eek: I wanna be debt free too!!:A

go to to the home page and to the right is the list of free tools!

debtmuncher

Monthly income after tax................ 1050
Partners monthly income after tax....... 650
Benefits................................ 1200
Total monthly income.................... 2900

Monthly Expense Details
Mortgage................................ 395
Council tax............................. 120
Electricity............................. 55
Gas..................................... 55
Telephone (land line)................... 12.50
Mobile phone............................ 35
TV Licence.............................. 14
Satellite/Cable TV...................... 0
Internet Services....................... 15
Groceries etc. ......................... 360
Clothing................................ 10
Petrol/diesel........................... 200
Road tax................................ 24.50
Car Insurance........................... 22
Car maintenance (including MOT)......... 15
Childcare/nursery....................... 5
Other child related expenses............ 5
Buildings insurance..................... 13
Contents insurance...................... 13
Presents (birthday, christmas etc)...... 50
Haircuts................................ 5
Total monthly expenses.................. 1424

Assets
House value (Gross)..................... 80000
Shares and bonds........................ 0
Car(s).................................. 10000
Other assets............................ 0
Total Assets............................ 90000

Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 62349....(395)......0
Total secured debts........... 62349.....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
aqua...........................334.44....10.02.....39.95
barclaycard....................3976.71...89........27.9
vanquis........................493.02....22........47.89
overdraft......................2500......30........0
capital........................482.43....24.12.....30.34
argos mastercard...............1031.65...36........0
homebase.......................560.6.....22.14.....27.9
argos..........................682.17....27.29.....27.9
next...........................740.96....84........26.49
littlewoods....................798.92....39........32.9
kays...........................732.79....100.......0
barclaycard....................668.39....15........0
vanquis........................230.46....11........38.58
argos..........................334.45....13.38.....27.9
argos mastercard...............1510.34...45.31.....0
capital........................1018.56...50.93.....30.34
next...........................823.41....77.66.....26.49
littlewoods....................1166.82...58........32.9
black horse (car)..............0.........280.......0
northern rock..................0.........215.......0
black horse....................4530......236.......0
Total unsecured debts..........22616.12..1485.85

Monthly Budget Summary
Total monthly income.................... 2,900
Expenses (including secured debts)....... 1,424
Available for debt repayments........... 1,476
Monthly UNsecured debt repayments....... 1,485.85
Surplus(deficit if negative)............ -9.8

Personal Balance Sheet Summary
Total assets (things you own)........... 90,000
Total Secured debt...................... -62,349
Total Unsecured debt.................... -22,616.12
Personal net worth...................... 5,034.88