Jenevieve's 'Time to Get Serious' Debt Diary

jenevieve

Hello everyone,
Have been reading and occasionally posting for ages now. Have also (I am ashamed to admit, been spending, spending, spending!:o And have since consolidated and carried on with the spending!:o This I have done more than once!!:o
It is, as my diary says - 'Time to get Serious'. I've read some of the diaries and have really been inspired by the advice, attitudes and general tenacity that is shown on this board by people in very difficult situations.
I'm lucky in that I only have myself to support, I don't have a mortgage (wondering if I ever will!!!) and my money is my own.
Despite the fact that I have built up colossal debts, I know that with the right focus I can get on with smashing my debt down.

Here are my SOA and debts everyone to look at. Despite paying on time, my credit rating is rubbish (due I imagine to the size of my debts).

Deep breath......here goes!!!

Income: £1830

Outgoings:
Rent (inclusive of all bills as I currently lodge with a friend) £415
Gym: £35 (last payment on July 1st then contract cancelled)
Car insurance: £13.19
Lovefilm £5.99 (big cinema fan but don't hardly go now that I have this - 3 DVDs a month)
Mobile: £35 (am going to cancel phone insurance which will reduce it by £6 and then switch to PAYG once contract ends)
Contact lenses £10.20
Food: approx £60 - £70 monthly
Petrol: approx £60

In regards to my outgoings, I am going to keep a strict spending diary starting on next payday to see where every penny goes and to clarify how much I spend on food/toiletries and going out.
I don't currently buy clothes as I am on a diet (wooh - 12lbs down in 5 weeks!!)

Debts:

Northern Rock loan - £35551.48 monthly payment: £345.16
Barclaycard - £5998.50 monthly payment: £134.00 APR 17.9%
A&L C/C £2492.30 monthly payment: £80 APR 2.52% monthly :eek:
MBNA C/C £6104.58 monthly payment: £188.04 APR 2.52% monthly :eek:
RBS C/C £2090.19 monthly payment: £47 APR 17%
Next Directory £550.32 monthly payment: £70.13 APR 26.4%
Littlewoods £150.20 monthly payment: £27.36 APR 0%

I have completed the CCCS Debt Remedy and was advised that by pulling my horns in, I can manage my own debt.
Changing my cards is not an option due to my poor credit rating.

I tend to fritter my money away on magazines, eating lunch at work, going out (although I tend to be the driver so don't drink much).

I have started taking packed lunches which will reduce costs.

Apologies for long, rambling post but 2 final questions and I will finish:

1) My housemate/landlady knows nothing of my debt problems and although she is a friend, I would not wish to tell her. However, we split all the bills for utilities and food so it is going to be difficult to reduce costs here, as it is her house. However, I think at £415 monthly, I get a pretty good deal but wondered if anyone had any ideas?
2) I am mid-30s and one of my friend (particularly now I houseshare) seem to think I have a massive expendable income and am saving all this extra cash towards a mortgage. I get questions about - how much have you saved, and you'll be able to buy a house soon - which is so not the case and not likely to be for aeons!! I don't want to share my shocking debt with this friend (or anyone) so how do I kindly get her off my back???

All advice, comments gratefully received xx

jenevieve

Also just wanted to mention that I am planning to freeze my pension payments which will give me an extra £150 monthly to throw at my debt. I know a pension is really important but I have been paying into mine since I was 18 so I figure I could freeze it for a while to concentrate on my debt.

hypno06

Hello!!

Two things......

the first......get over to the snowball calculator at www.whatsthecost.com and put your numbers in there to see how you can bring your debt free date forward.

the second - get joining the £10 a day challenge - get some extra income in to chuck at those debts, and before you know it you WILL be able to save for your mortgage!!

jenevieve

Thanks hypno. Have just joined a couple of the opinion sites as a start.

Giving my thread a shameless bump to see if any of you wise sages have any more advice or suggestions....;)

boredofbeingathome

Righteo, well done for posting. If you get yourself over to quidco you will see there is an offer on for blockbuster. There is cashback and a two week unltd dvd trial. Even then i reckon it is better value than lovefilm, and i reckon you could get quite a bit out of it, also local libraries have a good selection so would work out cheaper than the offer you have at mo.
There are lots of other offers on there at mo as well.
food i reckon you could cut that back,if you have a look at old style board..but that can vary over month anyway.
Howa bout a second job, then you can raise extra payments up and make good inroads into debt?
keep posting and good luck with it all.
BOB X

poorandindenial

jenevieve wrote: »

1) My housemate/landlady knows nothing of my debt problems and although she is a friend, I would not wish to tell her. However, we split all the bills for utilities and food so it is going to be difficult to reduce costs here, as it is her house. However, I think at £415 monthly, I get a pretty good deal but wondered if anyone had any ideas?
2) I am mid-30s and one of my friend (particularly now I houseshare) seem to think I have a massive expendable income and am saving all this extra cash towards a mortgage. I get questions about - how much have you saved, and you'll be able to buy a house soon - which is so not the case and not likely to be for aeons!! I don't want to share my shocking debt with this friend (or anyone) so how do I kindly get her off my back???

Hello - I just met you on the night owls so hello again, right...

1) this is a pretty reasonable deal (depending on where in east England you live, I think you will have to look elsewhere for reductions - you have already spotted the lunch thing - works wonders, by taking my own lunch and breakfast to work I have saved about £150 a month!!!)

2) don't say anything to her, if she wants to think that you are saving then let her, if she is so caught up in her own world where she believes that everyone MUST be saving for a house then let her believe what she wants, it really shouldn't make any difference. She knows you haven't got that much money and let her fill int he blanks

I second the suggestion of the snowball calculator, it is marvelous to motivate you into cutting back that bit harder.

poorandindenial

jenevieve wrote: »

Despite the fact that I have built up colossal debts, I know that with the right focus I can get on with smashing my debt down.

Excellent attitude by the way, with that in your mind you are halfway through the battle.

Buffythedebtslayer

hello haven't got any advice, too sleepy but thought I d say hi and welcome

xxx

except that I have been here nearly a year, and it does work!
xx

clearmydebts

Hiya,

I have a second job working for AQA

http://www.issuebits.com/vacancies.htm

I earn about £200 a month (before tax) and I am finding it really helpful in paying off my credit cards. Thought you might find it useful!

Good luck and look forward to hearing how you get on!

Karmacat

Hi there! Just a thought - the Boost Your Income board on here (link is at the top of every page, under the "Step by Step" guides..... there's so much on there, some of the things are bound to suit you.
Welcome!

jenevieve

Thank you! I have signed up for 3 of the opinion sites and am going to look into a few of the other suggestions. Earning a bit extra in the evenings while messing about on my computer is right up my street.