My DFW Diary............it could be long!!!

Confused_Newbie

Hi Everyone

Well after reading quite a few other DFW diarys I kinda figured that it might be a good thing for me to start, even if I am the only person who ever looks at it I kinda figure it may keep me motivated..........well at least that is the plan!

So then where do we stand right now? Well hubby currently has a credit card Debt of £3900 which has been passed to APEX. Have a letter to send off to them asking them for the CCA. Havent heard from them since last week when they phoned and quite frankly scared the pants off us! Rushed onto this board and got some great advice (thanks SAS)

I also have credit cards totaling approx £2500 which we are paying the minimum payment only on at the minute. Need to sort Hubbys out first.

Neither of us have particularly fantastic credit backgrounds so applying for a 0% card to BT isnt really an option.

We are off to Portugal on Thursday, all paid for and all our spending money changed. We both get paid the day we come back so hoping it will be new month new start kinda scenario.

Desperately need to make some money to try to get these debts down so all suggestions are welcome.

Also just realised this is kinda long now so if you are still reading give yourself a well deserved pat on the back!

**Amy**

:hello:

Im not sure if you have done an SOA (statement of affairs)? That might be a good thing to do now before you go on holiday (im not jealous! :rotfl: ) so that when you come back you have an action plan.

Congrats on coming to DFW anyway, and hope you manage to sort out that nasty company...

xxx

Confused_Newbie

I had previously posted our SOA but thinking it might be a good idea to put it in here. As always please feel free to be brutally honest!!

Joint Monthly Income - £1770

Mortgage - £385.25
Mortgage Protection - £25.52
Rates - £35.00
Insurances (life, buildings, contents) - £88.00
Electric - £30.00
Oil - £40.00
Telephone - £11.00
TV & Internet - £20.00
Mobiles - £40.00
Car Payments - £430.00
Petrol - £100.00
Car Insurance - £60.00
Car Tax - £20.00
Groceries - £120.00
Visa - £40.00 (minimum payment, rate 17.9%)
Presents (birthday, xmas, etc) - £25.00
Entertainment - £30.00
Haircuts - £10.00
Emergency fund - £30.00

In addition to this hubby currently has CC of £3900 which is being chased at the moment by APEX.

Any suggestions??

**Amy**

Hi

So thats a total of £1539.77 outgoing a month? Meaning you have £230.23 a month to throw at his Credit Card?

Thats quite a lot really? Should be ok to pay that to his credit card?

But have you tried checking your electricity supplier/insurances etc. to make sure you are getting a good deal?

Also if you join www.quidco.com you can even get cash back. It works by using their website to go through to insurers etc. and if you change to that insurer quidco gives you cash back (im rubbish at explaining sorry, and you probably already know about it!).

Also, try ebay. Selling everything and anything that isnt nailed down. Amazon & play.com for books, cds, dvds as well.

It all adds up.

Sorry im not much help.

x

Confused_Newbie

Amy that was great help!

We are in Northern Ireland so only have one supplier for electricity, etc but I know our insurances are due for renewal in July so will definately be looking into this!

Snafflepants

Hey CN,

Thought I'd pop over and say Hello

Very jealous of your holiday - I love Portugal.

Just a few thoughts....

Are your mobiles contracts or PAYG? Could you scout around and see if there are any better deals?

Agree with Amy re you insurance - shop around when they expire in a few months.

The car payments are a huge chunk every month. What's the situation with these?

All the best

Snaffles x

Confused_Newbie

Hi Snaffles

Thanks for your post, think this will be a real motivator for me!

My mobile is contract, tied in for another 9 months I think but would need to check this out and hubbys is payg.

Stupid question but should I contact our insurers now to check exactly when our policies expire so I can shop around a bit?

The car thing is very complicated! lol Basically hubby had an accident in which his car was written off. We sold my car together with the money from his insurance to buy him a new one and got me one with lower monthly payments. Does that make sense?! Basically at the minute our two cars cost us £430 but from July onwards this payment will only be for one car and will be £170. Hoping to chuck the extra towards our debts. Have you any idea if it is best to pay this off on a monthly basis ie.increase our payments or save it up and pay lump sums?

CN xox

Snafflepants

Hiya,

I would advise looking at all you rates and work out which is the most expensive. If you cant transfer any of them to better rates then start with the highest rate and chuck all money towards that debt.

It is known as snowballing and there is a link somewhere - I'll try and find it and post back shortly

Snaffle x

doelani

hi confused

Think you need to check your oil. I am in n. ireland and usually get 500l every 3 months and I have to put aside £100 a month now for it. Not sure when you last bought it put has went wayyyyyyyyyyyyy up.

Confused_Newbie

Hi Doelani

Tell me about it, its crazy! We pay a direct debit of £40 per month to our oil supplier so we dont have to pay any lump sums (or very little) when we need oil. Great idea cause dont fancy having to shell out for it all at once. Definately wouldnt need oil every 3 months mind you.

CN xxx

Confused_Newbie

Hi Guys

Well Im back! Portugal was..............wet! It rained for 6 days! But hey was still a break!

Anyhow now Im back Im raring to go! Been registering with some click sites, though dont seem to be getting too far at the minute! So all suggestions on that front would be greatly appreciated.

Also going to do a bit of a clear out for some ebay things, again maybe it is my extreme lack of imagination but we dont really appear to have anything much to sell!

Went to Asda on Friday and spent £57.00 which was a bit horrifying but this should do us for at least 2 possibly 3 weeks at a stretch!

So there we have it, nothing has really changed but I kinda figured if I didnt post here I probably would never make another one!

xoxox