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  • FIRST POST
    • Plain Jane
    • By Plain Jane 30th Jul 17, 9:04 PM
    • 81Posts
    • 131Thanks
    Plain Jane
    University Challenge x 2
    • #1
    • 30th Jul 17, 9:04 PM
    University Challenge x 2 30th Jul 17 at 9:04 PM
    Hi everyone, you all seem such a friendly bunch and I've been reading some of your diaries for a long time. I thought it was time I joined in and added my own diary for some help and encouragement.

    My name is quite boring but I haven't got a very creative mind today so may think of something better at a later date.

    So my title says it all really. Our DT (darling twin girls) were born 19 years ago in September. So you'd think after the shock of having two children at the same time we would have thought that at some point they will reach the age where they could well want to go to uni!

    No not us, we lived each day as it came getting ourselves into a mountain of debt without a thought for the future. In 2002 this debt reached £66k - LBM number 1 came along. We entered a dmp and spent the next 12 years scrimping and saving. In 2014 my dearest and lovely Dad passed away. The worst thing that has ever happened to me. About 6 months later his inheritance arrived and the first thing we did was pay the remaining £23k off our debt. The relief was amazing, it's such a shame something bad had to happen to get there.

    The remaining money we used to update the house as it had not had much love. So you think lessons learned we are free of debt apart from the mortgage. Oh no, I obviously thought we were invincible. The children were older and still talking about uni but we hadn't lived for so many years and all of a sudden credit was available to us. We went on holiday a couple of times and had weekends away, spent very unwisely on a day to day basis and bought shoes, clothes and everything else we thought we could afford now but really we couldn't.

    So here we're are, girls hopefully getting into uni in September, upset about having an empty nest all in one go and £40k back in debt.

    I've spent the last month overhauling the budget but nowhere near to the point that some of you do - I think you are all amazing. I have chopped small things out which have added up and the next thing to go is our storage unit where we dumped everything after losing 3 parents and a sister in quick succession. We cannot afford £172 a month for this. So my diary is all about cutting down, minimilising and hopefully losing weight along the way as I think these things can go hand in hand.

    Hope you've all had a great weekend and looking forward to talking to you all.

    PJ
Page 8
    • Plain Jane
    • By Plain Jane 5th Jan 18, 4:15 PM
    • 81 Posts
    • 131 Thanks
    Plain Jane
    Hi all think I missed a post yesterday - not good New Year MSE-Ing.

    So annoyed the lad that wanted DT2!!!8217;s accommodation hasn!!!8217;t been in touch since. He is stalling which isn!!!8217;t a good sign. However, we will give him the benefit of the doubt until tomorrow. Then the add is being bumped up again.

    Need some food shopping so may do an on-line order as still not feeling great.

    Bills are all leaving my account as normal can see the end of the month being touch and go roll on pay day!
    • Plain Jane
    • By Plain Jane 16th Feb 18, 3:01 PM
    • 81 Posts
    • 131 Thanks
    Plain Jane
    I'm back with a new SOA
    Hi all


    Sorry I have been MIA for about 6 weeks - life has just been getting in the way.


    Anyway, I have been busy on the MSE front and been shuffling and sorting out our affairs the best I can - we had a bit of a windfall in the shape of an old insurance policy which has helped us get out of complete dire straights - so here is my new SOA:


    Household Information[/b]
    Number of adults in household........... 4
    Number of children in household.........
    Number of cars owned.................... 1

    Monthly Income Details

    Monthly income after tax................ 2082
    Partners monthly income after tax....... 2672
    Benefits................................ 0
    Other income............................ 0
    Total monthly income.................... 4754

    Monthly Expense Details

    Mortgage................................ 1169
    Secured/HP loan repayments.............. 0
    Rent.................................... 0
    Management charge (leasehold property).. 0
    Council tax............................. 162
    Electricity............................. 72.5
    Gas..................................... 72.5
    Oil..................................... 0
    Water rates............................. 71
    Telephone (land line)................... 12.5
    Mobile phone............................ 69
    TV Licence.............................. 12.37
    Satellite/Cable TV...................... 28.04
    Internet Services....................... 7.95
    Groceries etc. ......................... 500
    Clothing................................ 100
    Petrol/diesel........................... 100
    Road tax................................ 5.83
    Car Insurance........................... 209.4
    Car maintenance (including MOT)......... 26
    Car parking............................. 0
    Other travel............................ 0
    Childcare/nursery....................... 0
    Other child related expenses............ 160
    Medical (prescriptions, dentist etc).... 10.4
    Pet insurance/vet bills................. 84.78
    Buildings insurance..................... 20
    Contents insurance...................... 20.17
    Life assurance ......................... 59.55
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 75
    Haircuts................................ 55
    Entertainment........................... 100
    Holiday................................. 100
    Emergency fund.......................... 100
    Total monthly expenses.................. 3402.99


    Assets

    Cash.................................... 1000
    House value (Gross)..................... 245000
    Shares and bonds........................ 0
    Car(s).................................. 6000
    Other assets............................ 0
    Total Assets............................ 252000


    Secured & HP Debts

    Description....................Debt......Monthly.. .APR
    Mortgage...................... 155000...(1169).....0
    Total secured & HP debts...... 155000....-.........-

    Unsecured Debts
    Description....................Debt......Monthly.. .APR
    Barclaycard....................14000.....320...... .0
    MBNA...........................9200......100...... .0
    MBNA...........................5800......62....... .0
    Optima (Boiler)................2035......105.......0
    Halifax........................4900......49....... .0
    Total unsecured debts..........35935.....636.......-


    Monthly Budget Summary

    Total monthly income.................... 4,754
    Expenses (including HP & secured debts). 3,402.99
    Available for debt repayments........... 1,351.01
    Monthly UNsecured debt repayments....... 636
    Amount left after debt repayments....... 715.01

    Personal Balance Sheet Summary
    Total assets (things you own)........... 252,000
    Total HP & Secured debt................. -155,000
    Total Unsecured debt.................... -35,935
    Net Assets.............................. 61,065

    Created using the SOA calculator at www.stoozing.com.
    Reproduced on Moneysavingexpert with permission, using other browser.
    [/FONT]


    I hope this is legible!


    So at last we have a bit of a leeway to start paying the rest of the debt down - I am not sure on percentages at the moment as the last time I checked they were all zero % but I am sure that is about to change on the MBNA cards.


    The idea is to get these paid off within a few years but I need to do a bit more work on how to achieve this.


    On the Uni front - DT1 is still loving it and has put her deposit down on year two. We have about £500 to pay for this year so that is why I am putting away £160 per month. She now pays for her phone bill and her food which is helping a lot.


    DT2 is at W8rose but looking for an apprenticeship in the marketing area. She is paying for her phone bill and when she gets her first proper pay packet (26th) she will be paying us £100 board per month. I know some of you will say that isn't enough but we need to take small steps with her.


    Hubby gets a bonus next month so we are going to throw that at one of the CC's - probably be about £1500 so that will also help the monthly outgoings.


    Please comment as you wish on my SOA - I know the groceries are high and I know mine and hubby's phone bills could come down.


    Have a lovely weekend
    • Plain Jane
    • By Plain Jane 16th Feb 18, 3:04 PM
    • 81 Posts
    • 131 Thanks
    Plain Jane
    PS - DT2's room finally went but we had to offer £30 a week toward the rent to get it gone!


    We paid it all in one go so it is off our backs!
    • Plain Jane
    • By Plain Jane 28th Feb 18, 7:45 PM
    • 81 Posts
    • 131 Thanks
    Plain Jane
    Another 12 days since I last posted. Life seems to be getting in the way.

    Still debt busting though and I need to update my figures soon.

    Hope the snow goes soon x
    • Plain Jane
    • By Plain Jane 1st Mar 18, 4:26 PM
    • 81 Posts
    • 131 Thanks
    Plain Jane
    So I thought I ought to note down my correct figures for the credit cards etc so I can get a clear start - I have paid a bit into them all as well so will add the new figure onto the end and then try and learn how to put them into my signature.
    Unsecured Debts
    Description....................Debt......Monthly.. .APR
    Barclaycard....................14000.....320...... .0 Now £12,843.39
    MBNA...........................9200......100...... .0 Now £9209.36
    MBNA...........................5800......62....... .0 Now £5734.86
    Optima (Boiler)................2035......105.......0 Now £1929.82
    Halifax........................4900......49....... .0 Now £4865.40

    Total unsecured debts..........35935.....636.......- £34582.83



    Goodness know what I have done with the colouring but here it is - I need to check now how long my 0% interest lasts on each on and make a decision as to which one needs to be paid off first.
    • Plain Jane
    • By Plain Jane 1st Mar 18, 4:37 PM
    • 81 Posts
    • 131 Thanks
    Plain Jane
    New signature!
    1st May 2018 - Barclaycard £12,843.39 £12047.93 £11747.93, MBNA 1 £5734.86 £5676.72 [£5528.78, MBNA 2 £9209.36 £9209.36£9117.27, Optima (Boiler) £1930£1824.97, Halifax £4865.40 £4865.40£4768.58 - TOTAL £34582.83 £33729£32987.53
    • Plain Jane
    • By Plain Jane 1st Mar 18, 4:49 PM
    • 81 Posts
    • 131 Thanks
    Plain Jane
    Oh dear - just checked and Barclaycard have just started to add interest at 19.2% p.a. So I'd better get going on this one.


    MBNA 1 - Interest 23.9% on purchases - does that mean from now or all previous purchases as it was only £0.18 this month.


    The rest are still 0% for now. The boiler is 24 months interest free only so probably best to let that one run and concentrate on Barclaycard and MBNA 1 for now.




    MBNA 2
    1st May 2018 - Barclaycard £12,843.39 £12047.93 £11747.93, MBNA 1 £5734.86 £5676.72 [£5528.78, MBNA 2 £9209.36 £9209.36£9117.27, Optima (Boiler) £1930£1824.97, Halifax £4865.40 £4865.40£4768.58 - TOTAL £34582.83 £33729£32987.53
    • Plain Jane
    • By Plain Jane 3rd Mar 18, 3:04 PM
    • 81 Posts
    • 131 Thanks
    Plain Jane
    Very MSE today, DT2 works at W8Rose and said there were loads of offers on so DH went into get some bargains for our tea.

    I've not ventured out today as it's been a battle all week getting to work

    So cleaning has been done, dogs are snoring on the settee so time to catch up on the diaries and get some inspiration!

    Keep safe out there xx
    1st May 2018 - Barclaycard £12,843.39 £12047.93 £11747.93, MBNA 1 £5734.86 £5676.72 [£5528.78, MBNA 2 £9209.36 £9209.36£9117.27, Optima (Boiler) £1930£1824.97, Halifax £4865.40 £4865.40£4768.58 - TOTAL £34582.83 £33729£32987.53
    • Kitten868
    • By Kitten868 3rd Mar 18, 4:32 PM
    • 906 Posts
    • 1,914 Thanks
    Kitten868
    Hello PJ,

    Glad to see you back. Double glad to see you got the subletter. Triple glad to see you got all those pesky debts trimmed down - in number and in amount. Great work. Both girls are happy and settled and one even paying rent. You're doing great. Keep on top of the boring bits and with that surplus you'll be cutting it down to size in no time.
    23.9% on purchases means you will be charged that rate on anything you buy on that card going forward.
    Maybe as the £100 is an extra put it straight to debt as you won't miss it?
    Your energy bills are high. Look at moving. It's all more than I allow for stuff but you earn much more than me. It's all going in the right direction. Keep it up xxx
    Loan 1 £5900/£8000
    Loan 2 £3900/£5800
    Total £9800/£13800 29% PAID
    • Plain Jane
    • By Plain Jane 24th Mar 18, 6:05 PM
    • 81 Posts
    • 131 Thanks
    Plain Jane
    Hi all and thanks Kitten,

    I can't believe that time has gone again. I'm still here, debt busting, I've just done my figures for this month as you can see from my signature. We are down another £853.00 up to today - yes!! I make that £2.34% down. Slow but sure. I just wish it could come down further.

    The £1000 is still in the emergency fund and £200 in DT2's board fund.

    Hopefully not going to spend anything this weekend as shopping was done yesterday.

    1st May 2018 - Barclaycard £12,843.39 £12047.93 £11747.93, MBNA 1 £5734.86 £5676.72 [£5528.78, MBNA 2 £9209.36 £9209.36£9117.27, Optima (Boiler) £1930£1824.97, Halifax £4865.40 £4865.40£4768.58 - TOTAL £34582.83 £33729£32987.53
    • Plain Jane
    • By Plain Jane 7th May 18, 11:13 AM
    • 81 Posts
    • 131 Thanks
    Plain Jane
    6 Weeks!!
    6 Weeks since I last posted.

    It has been a very busy at work - I work in a field that has March, April and May as the busiest months. So this weekend has been about sorting my house, life and debts out.

    As you can see from my signature I have dropped down to the next £1k and that's just been from paying the minimums. I have no spare cash to throw at these as my mse ways went out the window for a few weeks. Takeaways because I was too tired to bother although hubby is the main cook he was happy to enjoy the takeaways with me.

    This is one of our main issues we are both as bad as each other!!

    Anyway, I'm back and on it.

    DT2 has left W8rose and is working at a local very popular tea room which she loves. She has decided she is going back to Uni in September but commuting - she is retaking one A Level and that should get her into the Uni about half an hour's drive away.

    DT1 is still loving Uni and she comes home on Sunday for the summer and will be transferring to Nand0's near home. She wants to carry on paying for her own food which will help enormously and she gets a free meal every shift.

    So, back on it now with avengeance - we have a week away next month all paid for - just need the spends so I am going to try and sell some bits if my hoarder of a DH doesn't mind.

    Have a lovely Bank Holiday all x
    1st May 2018 - Barclaycard £12,843.39 £12047.93 £11747.93, MBNA 1 £5734.86 £5676.72 [£5528.78, MBNA 2 £9209.36 £9209.36£9117.27, Optima (Boiler) £1930£1824.97, Halifax £4865.40 £4865.40£4768.58 - TOTAL £34582.83 £33729£32987.53
    • Cumbria lass
    • By Cumbria lass 7th May 18, 12:18 PM
    • 1,891 Posts
    • 11,485 Thanks
    Cumbria lass
    It's great to hear that your daughter is going back to uni , she has worked out what is right for her . Good on her for getting another job as well. Your other daughter sounds verysettled doing what she is doing , that must give you peace of mind .

    Glad to hear you are back on the MSE bandwagon , it doesn't take much to stray ! I know from experience .

    Enjoy the rest of the bank holiday .
    CC1 £3475 May 2018
    • Plain Jane
    • By Plain Jane 7th May 18, 5:53 PM
    • 81 Posts
    • 131 Thanks
    Plain Jane
    Thanks Cumbria Lass you too x
    1st May 2018 - Barclaycard £12,843.39 £12047.93 £11747.93, MBNA 1 £5734.86 £5676.72 [£5528.78, MBNA 2 £9209.36 £9209.36£9117.27, Optima (Boiler) £1930£1824.97, Halifax £4865.40 £4865.40£4768.58 - TOTAL £34582.83 £33729£32987.53
    • RhiBi
    • By RhiBi 7th May 18, 6:20 PM
    • 579 Posts
    • 1,709 Thanks
    RhiBi
    Hi, just read your diary from start to finish! I've a daughter who is starting uni in September and am really worried about the costs! My eldest daughter is finishing uni, but the system is changing and it's really worrying me! We live in Wales so the fees were capped at £3000 a year for eldest daughter, this is no longer the case and they're now £9000 a year! The student accommodation is £144 a week, that's the cheapest!!

    I'd completely forgotten about the deposit that needs paying
    Virtual Sealed Pot 2018 #7 £173.69/£250
    • Honeysucklelou2
    • By Honeysucklelou2 7th May 18, 6:42 PM
    • 879 Posts
    • 3,555 Thanks
    Honeysucklelou2
    That's interesting that your daughter finishes for the summer next week. My DD finishes in 3 weeks which did shock me, so much so I wondered if she'd got the date right! Obviously I'm out of touch with university term times!!!

    Well done to your DD for getting a transfer in the same company, good planning.
    paydbx #93 £692/£8,000.
    Loan £17k - paid off in Aug 2017. Home improvement loans £3342 March 2017. £3123 in Jan 18
    • Plain Jane
    • By Plain Jane 7th May 18, 7:34 PM
    • 81 Posts
    • 131 Thanks
    Plain Jane
    Thanks Honeysuckle she's a good girl. I know I was shocked as well. Some of them are home already. It's a lot of money for 7.5 months tuition isn't it? I will be glad when she is home though - although I will probably be wishing she was away again in a few weeks
    1st May 2018 - Barclaycard £12,843.39 £12047.93 £11747.93, MBNA 1 £5734.86 £5676.72 [£5528.78, MBNA 2 £9209.36 £9209.36£9117.27, Optima (Boiler) £1930£1824.97, Halifax £4865.40 £4865.40£4768.58 - TOTAL £34582.83 £33729£32987.53
    • Plain Jane
    • By Plain Jane 19th May 18, 5:25 PM
    • 81 Posts
    • 131 Thanks
    Plain Jane
    I decided in the week I would check when all my O% cards were due to be up. Of course I have been burying my head in the sand in true ostrich style and got a bit of a shock when I realised they are all up within the next year. The most immediate one is part of one of the MBNA ones at £714.00 which will buy me another few months at 0% for the rest. I can do this this month as I earned extra at work at the start of the month. This is a one off but has come at a good time.

    This then started me off working on our budget and scrimping on everything to see if we can get this debt down and stop messing about. Iíve worked out we can pay over £1000 each month if we scrimp like mad - which means we would have paid £16k off which is almost half. I know this going to be hard and I have a DH is says he is on board until he wants something! We also need to continue to put by £200 a month for DTís uni accommodation next year.

    So here is me posting for luck which I think Iím going to need. I just hope weíve not stretched ourselves too much. But we donít want to pay interest if we can help it.

    Hopefully by the time the year is out our credit rating will be better and I can find another 0% and transfer the others onto that then get them down as quickly as possible.

    Hope you enjoyed the weather and the wedding if you watched it
    1st May 2018 - Barclaycard £12,843.39 £12047.93 £11747.93, MBNA 1 £5734.86 £5676.72 [£5528.78, MBNA 2 £9209.36 £9209.36£9117.27, Optima (Boiler) £1930£1824.97, Halifax £4865.40 £4865.40£4768.58 - TOTAL £34582.83 £33729£32987.53
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