What have I gotten myself into!?

lisopiso

Heres an SOA, this is all Canadian dollars.

Income
$1250/month

Outgoing
rent 690.00
mobile 65.00
tv 25.96
internet 36.23
electricity 35.00 (paying estimated $70 every 2 months)
groceries 80.00
misc 80.00 ($20/week for any extras i might need including cabs, laundry)

LEFT OVER: 237.81

Debts
Visa $999 @14.99%APR paying $75 a month
Student Loan $6748.19 min is $105, but I try and pay as much as humanly possible.

Savings account $400 - $250 is going to student loan, while $100 will be used for my deposit on my electricity bill, and $50 towards my kitchen table purchase (lovely bf gave me $100 for my table purchase!)

Im concerned, this is really cutting it close. They've reduced hours at work for the majority of the summer, just after i've moved to a more expensive apartment. I have already downgraded my tv and internet services, my cell phone is the lowest it can go - well i may be able to remove some on my txting features....

My wardrobe is seriously lacking, its summer and i have no extra funds to have fun with my friends who are always wanting to go to the pub, ive not included any birthday presents to the budget. To top is all off I have to save up about $1200 to replace my wig (damn you alopecia).

Ive been thinking about taking on a 2nd job, but my hours at my current job seem to move around, I never have the same schedule each week.

peb

Morning.

It is difficult to advise on your SOA as most of us are tuned into UK prices. We normally look at cutting down on phone/internet packages, groceries and whether your utilities are with the best provider.

Does your income reflect the reduced hours or will it be coming down?

So far as a second job is concerned is there something you can do from home so that it doesn't matter when you put the hours in?

Is it worth overpaying your student loan? Here because it is a low interest loan it is usually best to pay off over debts first.

Good luck and keep posting

I do not understand the saving for an electricity deposit?

Your phones/internet look high compared to everything else

Your groceries look really low - is this accurate or a guesstimate?

GeorgeUK

As Peb says, difficult to advise as we can't really compare like with like. It may be worth doing a full SOA as there doesn't seem to be any tax or other pieces listed that we usually see.
http://www.makesenseofcards.com/soacalc.html

Can't say i'm overly thrilled at the probotional offer the Canadian banks seem to offer. If i were in your position in the uk. i would be looking at getting 0% balance transfer cards to try to reduce the amount of interest i was paying. Once the promotion ran out, i would then transfer to another card running the same promotion. Unfortunately the offers in Canada seem to be for 4-6 months at between 2%-6% with most cards having an annual fee!! That really sucks!

All i can really suggest is pay the minimum on all debts except that with the highest interest rate.

TotallyBroke

Alopecia, Hi is your alopecia stress linked. Mine was.
I couldn't wear a wig found it too irratating. But the stares from people made me stress more. Then something in me changed I woke up and decided I would do a charity head shave. I had every last hair on my head shaved off.
People were staring at me then because I was bald not because I had patches of hair.
I relaxed totally and slowly my hair started to grow back. I still get large patches now and again but I don't stress over it. I know it will grow back eventually.

lisopiso

The alopecia has been full blown for quite some time, since about 2002.

Weve tried endless attempts to solve with no real permanent solution. :rolleyes: im tired of be poked, so i just go with the wig. Its expensive but quite realistic, and will last about 2 years or more!! no one at work has any idea, i always blame my penciled in eyebrows as a botched home eyebrow waxing mixed with wine... which is actually true :rotfl:

I guess the only real reason why im focusing on the loan is because the agreement i've got with parents to match any payment for the first year. i've brought it from 11,000 to the 6,700 in 10 months, so 2 more months of that, and i shall try to focus on my cc, but i'll have a feeling that i will rack it up pretty quickly when i go out to get my new do.

sigh

ive also tried to get 0% interest, but since my credit is so completely maxed no one wants to give me anymore credit.