Gemmzie's Staying-Debt-Free-With-No-Income Diary

Gemmzie

The doctors have previously said I'm not fit to work full-time, 30 hours ain't far off full-time is it

Gemmzie

skint_spice wrote: »

is there no middle ground Gemmzie? do you mean you're having a year out or quitting completely?

Deferring for now if I can get anyone at the stupid university to actually talk to me :rolleyes:

I'm not sure I'm on the right course any more, I'm completely disillusioned with the sector that I'm training to go into.

Gemmzie

Well I managed to stay debt free with no income So here's my new (provisional) SOA, any comments?
Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 408
Partners monthly income after tax....... 0
Benefits................................ 350
Other income............................ 0
Total monthly income.................... 758

Monthly Expense Details
Mortgage................................ 0
Secured loan repayments................. 0
Rent.................................... 150
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 10
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 5
Groceries etc. ......................... 0
Clothing................................ 30
Petrol/diesel........................... 40
Road tax................................ 11
Car Insurance........................... 30
Car maintenance (including MOT)......... 30
Car parking............................. 10
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 44
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 10
Haircuts................................ 5
Entertainment........................... 15
Holiday................................. 0
Emergency fund.......................... 0
ISA..................................... 20
Car Savings............................. 50
Total monthly expenses.................. 460

Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 2000
Other assets............................ 0
Total Assets............................ 2000

No Secured Debt

Unsecured Debts
Description....................Debt......Monthly...APR
Total unsecured debts..........0.........0.........-

Monthly Budget Summary
Total monthly income.................... 758
Expenses (including secured debts)....... 460
Available for debt repayments........... 298
Monthly UNsecured debt repayments....... 0
Surplus(deficit if negative)............ 298

Personal Balance Sheet Summary
Total assets (things you own)........... 2,000
Total Secured debt...................... -0
Total Unsecured debt.................... -0
Net Assets.............................. 2,000

Created using the SOA calculator at https://www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission.

beanielou

Wow, Looking good Gemmzie

Gemmzie

I forgot to add, I haven't included my DLA as I don't include it, it pays for food and anything I need for the house and treats for my mum (as my carer).

I should be able to save £250 minimum a month for the future

beanielou

Thats amazing Gemmzie.
Great for you.

Gemmzie

I've just done a little experiment and requested a larger overdraft on my current account and it was accepted no problem.
Don't panic, it's only £250 and I only have it there incase the car broke down or something as I can transfer enough to cover that from my savings. It's emergency money and cheaper than my CC rate.

Gemmzie

I'm critiquing my yearly spends as I still think I'm spending too much and saving too little.
So is £65 a year for shoes excessive? That's for 7 pairs.
£230 on socialising - is that high?
My games figure is huge - £320 but that does include the Wii and Wii fit which was £240
£250 on make-up etc :eek: That is too high!

I feel so wasteful now But need a solid budget so gotta be honest about what I'm spending.
On the plus side, I've earnt £4k more

beanielou

£65 is not high for shoes Gemmzie.
Dont beat yoursaelf up so much~:A

skint_spice

I thought it was £65 for one pair of shoes which I thought was high but not for seven pairs!
IMO only the gaming seems high but it won't be that high next year will it? now you have the wii... and you would have spent less if you had to.