Starting from point 1 again. Our diary.

deb_buffy

Right we joined MSE in Oct 2006 as we were wanting to get debt free and save for our first house. We managed this no problem which everyone’s help in June 2007. Now 1 year later we are back in debt, my partner has lost his job and we are getting married next year and also will need a new mortgage deal! So this is going to be our dairy of how things are going and just really to stop me spending.

Debt: We racked up loads of debt again after we moved in. we found we lived in the house that jack built so things like a hole in the roof needed fixing. We recently consolidated it into a loan which has worked great for us all cards, over draft have gone.

The wedding is being very kindly paid for by my parents which I cannot thank them enough for but we are meant to be putting £2k towards costs well atm that is just not going to happen and we can live with that, we just cut wedding costs down.

New mortgage deal: well this is my main worry as we have a 98% mortgage and as everyone knows atm 95% is the biggest mortgage you can have so when we need a new deal we are going to have to have the 3% + fees ready for June 2009. With my maths that’s around £333 a month we need to save!!! :eek:

I have done our current SOA with notes. My parents are again atm helping with monthly costs until my partner can get another job. I feel really bad that we have to ask for money from them just to live. My partner is searching daily for jobs and is signed up with every temping agency locally. We are not entitled to benefits because I earn to much(HAHA!!) or work to many hours or not old enough. We are trying to get Job seekers atm but they are saying because he left his job voluntarily then its unlikely he will get anything. It was either leave or be fired so he left.

Statement of Affairs and Personal Balance Sheet

Monthly Income Details
Monthly income after tax................ 1050
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1050

Monthly Expense Details
Mortgage................................ 589.65 (this is repayment 6.29% until june 2009)
Secured loan repayments................. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 95
Electricity............................. 20
Gas..................................... 20
Oil..................................... 0
Water rates............................. 30
Telephone (land line)................... 15
Mobile phone............................ 10
TV Licence.............................. 11.99
Satellite/Cable TV...................... 19 (this has our internet on it and we are still in contract)
Internet Services....................... 0
Groceries etc. ......................... 120
Clothing................................ 0
Petrol/diesel........................... 120
Road tax................................ 0 (pay for when needed)
Car Insurance........................... 45
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 15.69 (this is contents as well)
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 1111.33

Assets
Cash.................................... 0
House value (Gross)..................... 105000
Shares and bonds........................ 0
Car(s).................................. 5000
Other assets............................ 0
Total Assets............................ 110000

Secured Debts
Description....................Debt......Monthly...APR
Mortgage...................... 103000...(589.65)...6.29
Total secured debts........... 103000....-.........-

Unsecured Debts
Description....................Debt......Monthly...APR
car............................2295......118.......0
loan...........................8000......149.......0
Total unsecured debts..........10295.....267.......-

Monthly Budget Summary
Total monthly income.................... 1,050
Expenses (including secured debts)....... 1,111.33
Available for debt repayments........... -61.33
Monthly UNsecured debt repayments....... 267
Surplus(deficit if negative)............ -328.33

Personal Balance Sheet Summary
Total assets (things you own)........... 110,000
Total Secured debt...................... -103,000
Total Unsecured debt.................... -10,295
Net Assets.............................. -3,295

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

Sorry for such a long post hope you dont mind.

GeorgeUK

Unless you can somehow cut down the groceries until hubby gets another job, there doesn't seem to be anything else you can really cut back on. Are you paying council tac over 12 months? Can you ask if you can?

Are the car and loan both 0%?

For the short-term i would suggest possibly temping just to get some cash in if he can't get any benefits. Also post up his CV on monster and any other job sites.

deb_buffy

Hi

Thanks for the reply. We pay council tax over 10 months so will see about asking over 12. Car is on a high interest rate cannot remmeber how much and loan is all front loaded the orginal loan was for 7000 but works out at 8800 when we started it with interest.

Temping he is trying to get something but nothing locally atm he is ringing them every other day to remind them he's there. Good idea about monster. He has been using online for search for jobs and is applying for 3/4 jobs each day.

Thanks again