I am being upgraded from Mum to Nan - I need a plan!

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  • Hi M2N, congratulations on your news!
    It sounds like you are already making great progress towards cutting outgoings :)

    I have Netflix and last year I asked for Netflix vouchers for xmas and birthdays and have been able to get our Netflix "half price" or better for the year. I've also dropped hints about the more expensive skincare/cosmetic items I regularly use and I got all the way to Easter on my xmas present moisturisers.

    How do you feel about survey sites? I'm signed up to Ipsos I-say and Prolific Academic, I cash out my Ipsos rewards for Amazon vouchers (you can add the vouchers straight to your Amazon account which is handy). Prolific Academic do have loads of screening questions but I've made about £150 from surveys in the year I've been using them.
    I also registered with several market research / focus group companies. I do 4-6 per year and the average reward is £50 but I did one that was £90 (my father-in-law got £450 for a car research last year!)
  • Mum2Nan
    Mum2Nan Posts: 170
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    edited 9 May 2018 at 7:38PM
    Hi Georgiana

    I have seen a lot regarding surveys on here but I have yet to sign up to any. I am impressed with your additional earnings. :T I will look into this but I imagine they are quite time consuming.

    So, I have now updated my SOA below with my revised figures, stuff left off, cancelled or reduced. I have also updated to reflect the true position with the Halifax credit cards.

    The bad news:

    I have had another conversation with Halifax today and unlike Barclaycard they don't allocate payments to the deal that finishes the soonest but the one that was taken out first. :eek: I am not sure why they never mentioned this when I called the other day or indeed the previous occasions. Their advice was to wait until nearer the time and consider a balance transfer to avoid interest!

    I was asked to make a charity donation of £10 at work today. As my work colleagues put in I felt compelled to do the same. Since when was there a minimum on donations? I can't be the only one that can't afford this type of payment. Both of these things have frustrated me no end today.

    The good news:

    The Halifax debt is £300 less than I thought as these figures have come from my up to date statement

    The 0% ends in November and not October as previously stated

    My sandwich and dinner tonight was yummy.

    I don't need to buy food, household, petrol, cat food, litter or toiletries for this week and am going to try and hold out towards the end of next week.

    The Plan:

    Target Barclaycard 1 to clear it
    Up the D/D and continue making payments to Halifax 1
    Dip into savings to reduce Halifax 2 by November and see where I am then. If necessary, I shall have to balance transfer the remainder to Barclaycard (again) to avoid interest

    I don't need to worry about making minimum payments on the other 0%s as they will come off the D/Ds already set up

    Statement of Affairs and Personal Balance Sheet

    Household Information

    Number of adults in household........... 1
    Number of children in household.........
    Number of cars owned.................... 1

    Monthly Income Details

    Monthly income after tax................ 2548.81
    Partners monthly income after tax....... 0
    Benefits................................ 0
    Other income............................ 6.5
    Total monthly income.................... 2555.31


    Monthly Expense Details

    Mortgage................................ 806.5
    Secured/HP loan repayments.............. 0
    Rent.................................... 0
    Management charge (leasehold property).. 98
    Council tax............................. 124
    Electricity............................. 34
    Gas..................................... 14.5
    Oil..................................... 0
    Water rates............................. 15
    Telephone (land line)................... 0
    Mobile phone............................ 10
    TV Licence.............................. 0
    Satellite/Cable TV...................... 7.99
    Internet Services....................... 31.5
    Groceries etc. ......................... 250
    Clothing................................ 15
    Petrol/diesel........................... 50
    Road tax................................ 16.25
    Car Insurance........................... 37.25
    Car maintenance (including MOT)......... 30
    Car parking............................. 0
    Other travel............................ 207
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 5
    Pet insurance/vet bills................. 20
    Buildings insurance..................... 0
    Contents insurance...................... 7.5
    Life assurance ......................... 0
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 60
    Haircuts................................ 8
    Entertainment........................... 35
    Holiday................................. 0
    Emergency fund.......................... 0
    Vaping.................................. 25
    Charity Donation........................ 5
    Window Cleaner.......................... 10
    Boiler Servicing........................ 5
    Chiropodist............................. 15.83
    Cat Food, Fish Food & Litter............ 50
    Mortgage Overpayment.................... 43.46
    Total monthly expenses.................. 2036.78



    Assets

    Cash.................................... 3778.63
    House value (Gross)..................... 225000
    Shares and bonds........................ 0
    Car(s).................................. 1000
    Other assets............................ 4000
    Total Assets............................ 233778.63



    Secured & HP Debts

    Description....................Debt......Monthly...APR
    Mortgage...................... 133456...(806.5)....3.19
    Total secured & HP debts...... 133456....-.........-


    Unsecured Debts
    Description....................Debt......Monthly...APR
    Barclaycard 1..................1319.15...29.6......0 (ends 01/08/2018)
    Barclaycard 2..................3087......69.48.....0 (ends 01/01/2019)
    Barclaycard 3..................3087......69.48.....0 (ends 01/03/2019)
    Halifax 3......................2472......24.72.....0 (ends 26/07/2019)
    Halifax 2......................2537.5....25.38.....0 (ends 26/11/2018)
    Halifax 1......................1161.75...11.62.....0 (ends 23/02/2019)
    TSB Loan (ends 2021)...........8299.4....187.9.....2.89
    Total unsecured debts..........21963.8...418.18....-


    Monthly Budget Summary

    Total monthly income.................... 2,555.31
    Expenses (including HP & secured debts). 2,036.78
    Available for debt repayments........... 518.53
    Monthly UNsecured debt repayments....... 418.18
    Amount left after debt repayments....... 100.35


    Personal Balance Sheet Summary
    Total assets (things you own)........... 233,778.63
    Total HP & Secured debt................. -133,456
    Total Unsecured debt.................... -21,963.8
    Net Assets.............................. 78,358.83


    Created using the SOA calculator at www.stoozing.com.
    Reproduced on Moneysavingexpert with permission, using Firefox browser.

    Fingers crossed I don't need to spend any money tomorrow.
    BC1: 1460 1065 730 365 £0
    BC2: 4116 3999 3899 3799 3699 3599 3499 3299 2979 2659 2399 2019 £0
    Halifax MC: 10208.14 9895 9645 9277.33 8890.12 £5998253.95 7666.74 7239.53 7015.24 £0
    TSB Loan: 3083.34 2902.70 2721.98 2540.59 2358.17 2,175.38 1991.32 1807.63 1,623.54 1431.38 1158.28 928.88 716.06 502.72 287.77 74.43 £0
    Barclays Finance: 1049 961.58 874.16 786.94 699.32 611.60 524.48 437.06 349.64 262.22 174.80 87.38 £0
    MBNA: 7105 6925 6745 6565 6385 6205 5830 5050 4800 4300 3800 3300 2800 2300 1800 £1300
    Total Debt at highest December 2017: £28,929.14/£1300 + new debt: £3850 / Emergency Fund £4450
  • ViolaLass
    ViolaLass Posts: 5,764 Forumite
    You're making strides!

    I note the mortgage overpayment is still there...
  • beanielou
    beanielou Posts: 89,816
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    I would have not put 10 quid in a charity donation.
    I have charity's that I donate too & thats it.
    I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.

    Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.

    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
    One debt remaining. Home improvement loan.
  • CapricornLass
    CapricornLass Posts: 666
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    I'm the same - I only give to the charities I want to give, and don't feel guilty about missing the rest....

    That said, I tend to go for the very local charities if I can rather than the big ones, on the grounds that they are more likely to use every penny for the cause. So, if there's a sponsored toddler walk for the local playgroup, and they're looking for sponsors, I'm your woman!

    (Incidently, your local crisis centre might be glad of the smellies and things that you don't want? People buy lots of things for the babies and children, and the poor mothers tend to get forgotten. A nice shampoo or handcream might be a good morale booster for them.)
    Sealed Pot Challenge no 035. Fashion on the Ration: 24/66 coupons spent.
  • Mum2Nan
    Mum2Nan Posts: 170
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    I haven't worked out how to use quotes yet.

    Viola, it's going but I am still recovering from cancelling the loan overpayment :) so will cancel from next month.

    Beanielou, I am still annoyed over this tonight. I already adopt an animal and would have really preferred to make a payment to them. This is not to say I don't agree with the cause but animals who have no voice are really close to my heart and feel I could have supported them with the extra £10. I am going to have to be a bit firmer in future. If it had been loose change it would have been a different matter.
    BC1: 1460 1065 730 365 £0
    BC2: 4116 3999 3899 3799 3699 3599 3499 3299 2979 2659 2399 2019 £0
    Halifax MC: 10208.14 9895 9645 9277.33 8890.12 £5998253.95 7666.74 7239.53 7015.24 £0
    TSB Loan: 3083.34 2902.70 2721.98 2540.59 2358.17 2,175.38 1991.32 1807.63 1,623.54 1431.38 1158.28 928.88 716.06 502.72 287.77 74.43 £0
    Barclays Finance: 1049 961.58 874.16 786.94 699.32 611.60 524.48 437.06 349.64 262.22 174.80 87.38 £0
    MBNA: 7105 6925 6745 6565 6385 6205 5830 5050 4800 4300 3800 3300 2800 2300 1800 £1300
    Total Debt at highest December 2017: £28,929.14/£1300 + new debt: £3850 / Emergency Fund £4450
  • Mum2Nan
    Mum2Nan Posts: 170
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    Hi Capricorn

    Crossed posts again. That's a very good idea about the lotions and potions. I am going to look into this at the weekend and also put a message on the FB group.
    BC1: 1460 1065 730 365 £0
    BC2: 4116 3999 3899 3799 3699 3599 3499 3299 2979 2659 2399 2019 £0
    Halifax MC: 10208.14 9895 9645 9277.33 8890.12 £5998253.95 7666.74 7239.53 7015.24 £0
    TSB Loan: 3083.34 2902.70 2721.98 2540.59 2358.17 2,175.38 1991.32 1807.63 1,623.54 1431.38 1158.28 928.88 716.06 502.72 287.77 74.43 £0
    Barclays Finance: 1049 961.58 874.16 786.94 699.32 611.60 524.48 437.06 349.64 262.22 174.80 87.38 £0
    MBNA: 7105 6925 6745 6565 6385 6205 5830 5050 4800 4300 3800 3300 2800 2300 1800 £1300
    Total Debt at highest December 2017: £28,929.14/£1300 + new debt: £3850 / Emergency Fund £4450
  • Mum2Nan
    Mum2Nan Posts: 170
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    edited 9 May 2018 at 10:19PM
    The total of the 0% deals that need to be paid by November are worse than I thought now the Halifax payments are not going to be reallocated as I was advised the other day. This now means I have to pay £5,018.14 (would be grateful for Enthusiastic's number crunching here to double check my numbers) by November and then have the 2 looming 0% end deals with Barclaycard in January and March next year. No breathing space at all.

    I cannot go to bed on a negative.

    The good news:

    I do now know the exact figures and what I am up against

    This includes payments that will be made between now and November

    The mortgage overpayment (Viola) is going tomorrow.
    BC1: 1460 1065 730 365 £0
    BC2: 4116 3999 3899 3799 3699 3599 3499 3299 2979 2659 2399 2019 £0
    Halifax MC: 10208.14 9895 9645 9277.33 8890.12 £5998253.95 7666.74 7239.53 7015.24 £0
    TSB Loan: 3083.34 2902.70 2721.98 2540.59 2358.17 2,175.38 1991.32 1807.63 1,623.54 1431.38 1158.28 928.88 716.06 502.72 287.77 74.43 £0
    Barclays Finance: 1049 961.58 874.16 786.94 699.32 611.60 524.48 437.06 349.64 262.22 174.80 87.38 £0
    MBNA: 7105 6925 6745 6565 6385 6205 5830 5050 4800 4300 3800 3300 2800 2300 1800 £1300
    Total Debt at highest December 2017: £28,929.14/£1300 + new debt: £3850 / Emergency Fund £4450
  • enthusiasticsaver
    enthusiasticsaver Posts: 15,445
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    Mum2Nan wrote: »
    The total of the 0% deals that need to be paid by November are worse than I thought now the Halifax payments are not going to be reallocated as I was advised the other day. This now means I have to pay £5,018.14 (would be grateful for Enthusiastic's number crunching here to double check my numbers) by November and then have the 2 looming 0% end deals with Barclaycard in January and March next year. No breathing space at all.

    I cannot go to bed on a negative.

    The good news:

    I do now know the exact figures and what I am up against

    This includes payments that will be made between now and November

    The mortgage overpayment (Viola) is going tomorrow.

    That is a pain re the way Halifax assign payments and yes it means paying £3700 to Halifax by November to avoid paying interest on the Halifax 2 deal. That looks unrealistic on your budget and income so inevitably a balance transfer will be needed unless you are happy to take your savings very low. In total you will need to pay £1317 by August to Barclaycard and £3701 to Halifax by November so £5018 in total.

    The monthly £350 will clear the Barclaycard 1 by August assuming the whole monthly payment comes off Barclaycard 1 deal. That is an additional £180 you need to find though on top of the £170 you currently pay. You have £100 surplus though and if you cancel mortgage overpayment that is another £47 so just £33 monthly either to come from savings on other budgets or from your emergency savings. After August you can concentrate on Halifax.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
  • daisy_jean
    daisy_jean Posts: 311
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    Hiya!

    Just read through your thread and didn't wanna read and run! You're making good headway, and I've really enjoyed reading this thread! We've all got our own plans and managements (and you have cats, which is a winner with me! I have 2 cats, 1 lovely and 1 demon!) so good luck to you! xx
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