Indigowarrior's journey to financial peace

indigowarrior · 5 July 2018 at 12:18AM

I have chosen a new diary as I am in a new part of my life. I currently owe £10K to different creditors and I want to start dealing with them one step at time. I also need to start saving for when I leave supported accommodation.

I dont work at the moment due to physical health problems and serious mental health problems. It makes budgetting and life very difficult.

My debts as current are:
Tesco-£120
Nat West £103.00
BPO 123.49 (Payment Plan of £20 per month)
Tesco Mobile £176.71
Tesco Mobile £211.94
Three £224.88
Council Tax £450 (Payment Plan of £50 per month)
Vodafone £244.95
Tesco Mobile £282.50
Vanquis £300.00
EE £318.00
Orange £402.37
O2 £404.00
Talk Talk £448.00
Virgin £510.00
02 £646.25
Simply Be £850
TalkTalk £837.95
BT £1100 (Payment plan of £25)
Lloyds £1780
Total; £9358

However before I begin attacking the debt and getting the EF together I need to start just paying the minimums and saving for four walls.
I am hoping to stay at supported accommodation until November the earliest. Which will give me 5 months to get sorted. Thankfully my living costs are very low.

Living Costs
Rent: £100
Food: £150
Transport: £20
Eating Out: £20
Tesco Mobile: £30
Entertainment: £10
Cashplus: £5.95
Total: £317

It leaves me quite a bit a money each month really

Hopefully I can stay well and start doing this. I just need to believe it.

GlendaSugarbean · 5 July 2018 at 6:58AM

Best of luck! How are you structuring your days at the moment? Anything you can add to keep yourself on track?

Toni'sfriend · 5 July 2018 at 8:50AM

Just popping in to say hello. Indigo. I'm sure there will be lots of people here who will be able to give you tips and show you the best way to go about tackling this.

enthusiasticsaver · 5 July 2018 at 8:52AM

What is cashplus? Do you not have to pay towards gas electric or water in supported accommodation?

As you say those outgoings are low. How much income do you receive? I would suggest you save something into emergency savings as well as towards your debts.

Do any of the debts charge interest? That will help you decide what to tackle first. There are a lot of phone company debts there. Are these defaulted contracts? Have you developed a strategy now for not running up large phone billsor are you now on PAYG?

indigowarrior · 5 July 2018 at 8:55AM

Thank you to you both. Welcome

I have 15 days till the next payday and about £58 in my purse. I do have a fully stocked cupboard and semi stocked freezer. So need to tighten my belt. Also ramp up the No Spend Days as well.

Glendasugarbean My days depend on how unwell I am and what has happened. I hate committing to much as its unpredictable with how I will be.

indigowarrior · 5 July 2018 at 9:01AM

enthusiasticsaver wrote: »

What is cashplus? Do you not have to pay towards gas electric or water in supported accommodation?

As you say those outgoings are low. How much income do you receive? I would suggest you save something into emergency savings as well as towards your debts.

Do any of the debts charge interest? That will help you decide what to tackle first. There are a lot of phone company debts there. Are these defaulted contracts? Have you developed a strategy now for not running up large phone billsor are you now on PAYG?

Entusiasticsaver welcome. Cashplus is my creditbuilder. I pay £6 a month to "improve" my credit score. It has gone up twice since I started. The £100 a month service charge covers all rent. All my debts are mainly defaulted contracts. I have now capped my bill with Tesco and it generally doesnt go over £30. Unfortunately I cant find a pay as you go tariff to suit my needs. As I use a lot of internet.

I only have one debt that is climbing and that is simplybe. I am going to work on clear that off.

I am embarrassed to say how much benefit I get as I am worried I will get judged.

Toni'sfriend · 5 July 2018 at 9:15AM

I am embarrassed to say how much benefit I get as I am worried I will get judged.

No one will judge you here. We are all here to help in any way we can and if you were not entitled to the benefit you would not be getting it. It is fine if you don't want to say but it might help with advising how to sort your debts out.

indigowarrior · 5 July 2018 at 9:23AM

Toni'sfriend wrote: »

No one will judge you here. We are all here to help in any way we can and if you were not entitled to the benefit you would not be getting it. It is fine if you don't want to say but it might help with advising how to sort your debts out.

Thank you Toni
I get £621 UC (I get the LCWRA element and not able to work at the moment) and £433 PIP. I have been tested over this and they were confident I was eligible for it but I struggle due to peoples opinion on benefits.

Toni'sfriend · 5 July 2018 at 9:35AM

I struggle due to peoples opinion on benefits.

Their opinions don't matter so try not to worry about what other people think.
I'm not an expert so I won't suggest how you should tackle this but there are a lot of people here who will give you very good advice. I'm sure this can and will be fixed.

GlendaSugarbean · 5 July 2018 at 10:25AM

Sod what people think! I'm pleased you are getting the support you need.

indigowarrior · 5 July 2018 at 2:44PM

Thank you lovely ladies.
Meet up with my friend who kindly paid for coffee and chips. I have calculated I have £3 a day to last me. So I have put the £3 saved today in my savings. I meet up with the social worker and handed over pictures for the girls life story work which was very difficult. Rest of the day is chilling and relaxing.

Indigowarrior's journey to financial peace

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