Giving myself 2 years to get out of Debt
Comments
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Hi - just stopping by to offer some encouragement - you seem very on it. Budgeting can be a bit of a nightmare as I find unexpected costs have a habit of cropping up (or I'm not leaving enough leeway... hmm...) but you have a plan for where the money is going to come from (this doesn't involve more debt!)
Thank you Those unexpected costs crop up every month for me I need to start adding a misc category in the budget.
Ch3ckout Sm&rt sent me the payment last night which has gone back into the budget :j
Also received £3 voucher from Swagbucks to go towards Amazon presents for xmas.
I still haven't been able to spend my points on B0unts i'm sick of seeing the website now :mad:Debt =£5,829.57 Aug 17 /£5,598.05 Mar 17/ £6,310.36 Feb 17/ £6,468.06 Jan 17/£6,593.06 Dec 16/ £6,545.36 Nov 16/ £6,886.82 Oct 16
SPC #0370 -
Hi,
Best of luck with your journey. I look forward to following. I know it helps having people watch on0 -
PositiveStep wrote: »Hi,
Best of luck with your journey. I look forward to following. I know it helps having people watch on
Thank you , it really does help
I have less than 10 pound left until I get paid at the end of this week. I am hoping i dont need it so i can put it towards my CC paymentDebt =£5,829.57 Aug 17 /£5,598.05 Mar 17/ £6,310.36 Feb 17/ £6,468.06 Jan 17/£6,593.06 Dec 16/ £6,545.36 Nov 16/ £6,886.82 Oct 16
SPC #0370 -
I have 2 days left until payday and run out of everything in the cupboards to make any decent meals with. I have really tried to stretch it but its not happening. We have been to the shops and bought some basics to get us through such as gravy and milk.
I also managed 11 'take lunch to work' days so far this month, i am breaking my streak today to buy lunch as we have nothing in.
Also had 11 NSD this month which i'm happy about :-)
I must get to the post office tonight and post an item i sold on 3bay on Sunday. I have one more item up for sale and then its on to the books again although they don't really sell on 3bay. Anyone have any suggestions?
I'm still having no look what so ever with b0unts. I have requested a refund which i'm guessing will take a long time but i still can not cash out for vouchers, i'm checking the website 2-3 times an hour and getting no where :-(Debt =£5,829.57 Aug 17 /£5,598.05 Mar 17/ £6,310.36 Feb 17/ £6,468.06 Jan 17/£6,593.06 Dec 16/ £6,545.36 Nov 16/ £6,886.82 Oct 16
SPC #0370 -
Fivebyfive wrote: »I have 2 days left until payday and run out of everything in the cupboards to make any decent meals with. I have really tried to stretch it but its not happening. We have been to the shops and bought some basics to get us through such as gravy and milk.
I also managed 11 'take lunch to work' days so far this month, i am breaking my streak today to buy lunch as we have nothing in.
Also had 11 NSD this month which i'm happy about :-)
I must get to the post office tonight and post an item i sold on 3bay on Sunday. I have one more item up for sale and then its on to the books again although they don't really sell on 3bay. Anyone have any suggestions?
I'm still having no look what so ever with b0unts. I have requested a refund which i'm guessing will take a long time but i still can not cash out for vouchers, i'm checking the website 2-3 times an hour and getting no where :-(
What type of book are you trying to sell on 3bay?0 -
I used to be the same with going out for lunch everyday, i can't believe i used to have the money for it! :eek:
We have access to a microwave at work so i usually take in leftovers. Today is a tin of mixed veg and a portion of meat & potato pie from my parents house . I'm supposed to be on Weight Watchers but it's difficult eating healthy when I've no food in :rotfl:Debt =£5,829.57 Aug 17 /£5,598.05 Mar 17/ £6,310.36 Feb 17/ £6,468.06 Jan 17/£6,593.06 Dec 16/ £6,545.36 Nov 16/ £6,886.82 Oct 16
SPC #0370 -
Slight update on B0unts..I managed to get a £5 gift card yesterday so that should be on the way. I have nearly enough points for another card so might wait for that before shutting the account down.
I am also at £39.95 on 0nep0ll :eek: only one more survey (if i get one) to do and i can cash out:T
I'm trying to sell mystery and sci-fi books (fiction) they are very common authors so i might be best donating them to charity instead.
Yesterday was a very spendalicious day. I paid for postage for 3bay item, lunch and a taxi home. That's my £10 gone. Roll on payday tomorrow :jDebt =£5,829.57 Aug 17 /£5,598.05 Mar 17/ £6,310.36 Feb 17/ £6,468.06 Jan 17/£6,593.06 Dec 16/ £6,545.36 Nov 16/ £6,886.82 Oct 16
SPC #0370 -
I have done this months SOA, any advise would be much appreciated I've only included what i earn and pay (OH money is seperate)
Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household.........
Number of cars owned....................
Monthly Income Details
Monthly income after tax................ 1352.32
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1352.32
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 275
Management charge (leasehold property).. 0
Council tax............................. 56.5
Electricity............................. 10.5
Gas..................................... 10.5
Oil..................................... 0
Water rates............................. 28.5
Telephone (land line)................... 0
Mobile phone............................ 46 (will go down to £10 next month as this includes final bill on contract)
TV Licence.............................. 6.06
Satellite/Cable TV...................... 4.5
Internet Services....................... 22.76
Groceries etc. ......................... 200
Clothing................................ 15
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 20
Childcare/nursery....................... 0
Other child related expenses............ 231.06
Medical (prescriptions, dentist etc).... 15
Pet insurance/vet bills................. 13
Buildings insurance..................... 0
Contents insurance...................... 6.5
Life assurance ......................... 0
Other insurance......................... 5.37
Presents (birthday, christmas etc)...... 35
Haircuts................................ 2.5
Entertainment........................... 40
Holiday................................. 10
Emergency fund.......................... 10
Misc.................................... 8
Total monthly expenses.................. 1071.75
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0
No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Credit card ...................2134.83...21.02.....18.9
Debt 1 ........................192.......25........0
Debt 2.........................4504.99...86.63.....0
Family ........................32........32........0
Debt 3.........................4840.56...89.6......18.4
Total monthly income: £
1,352.32
Expenses (incl. HP & secured debts): £
1,071.75
Available for debt repayments: £
280.57
Unsecured debt repayments: £
254.25
Surplus (shortfall if negative) £
26.32Debt =£5,829.57 Aug 17 /£5,598.05 Mar 17/ £6,310.36 Feb 17/ £6,468.06 Jan 17/£6,593.06 Dec 16/ £6,545.36 Nov 16/ £6,886.82 Oct 16
SPC #0370 -
Fivebyfive wrote: »I have done this months SOA, any advise would be much appreciated I've only included what i earn and pay (OH money is seperate)
Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 1
Number of children in household.........
Number of cars owned....................
Monthly Income Details
Monthly income after tax................ 1352.32
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1352.32
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 275
Management charge (leasehold property).. 0
Council tax............................. 56.5
Electricity............................. 10.5
Gas..................................... 10.5
Oil..................................... 0
Water rates............................. 28.5
Telephone (land line)................... 0
Mobile phone............................ 46 (will go down to £10 next month as this includes final bill on contract)
TV Licence.............................. 6.06
Satellite/Cable TV...................... 4.5
Internet Services....................... 22.76
Groceries etc. ......................... 200 I take it you pay for all the groceries for the 2 of you?
Clothing................................ 15
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 20
Childcare/nursery....................... 0
Other child related expenses............ 231.06 Can we ask what this is as it's a sizeable monthly figure to not be childcare related
Medical (prescriptions, dentist etc).... 15 Every month?
Pet insurance/vet bills................. 13
Buildings insurance..................... 0
Contents insurance...................... 6.5
Life assurance ......................... 0
Other insurance......................... 5.37
Presents (birthday, christmas etc)...... 35
Haircuts................................ 2.5
Entertainment........................... 40
Holiday................................. 10
Emergency fund.......................... 10
Misc.................................... 8
Total monthly expenses.................. 1071.75
Assets
Cash.................................... 0
House value (Gross)..................... 0
Shares and bonds........................ 0
Car(s).................................. 0
Other assets............................ 0
Total Assets............................ 0
No Secured nor Hire Purchase Debts
Unsecured Debts
Description....................Debt......Monthly...APR
Credit card ...................2134.83...21.02.....18.9
Debt 1 ........................192.......25........0
Debt 2.........................4504.99...86.63.....0
Family ........................32........32........0
Debt 3.........................4840.56...89.6......18.4
Total monthly income: £
1,352.32
Expenses (incl. HP & secured debts): £
1,071.75
Available for debt repayments: £
280.57
Unsecured debt repayments: £
254.25
Surplus (shortfall if negative) £
26.32
I assume with the exception of groceries the expenses you show are your 50% of most things? Does this accurately reflect your/OH's earnings, when the things that your OH pays for are taken into account? For example in our household OH earns substantially more than I do, therefore although he also has a bit more spending money than I do, he pays a good bit more towards joint/household stuff than I do.
The £30-odd you'll be saving on the mobile will go straight off to debt repayments I presume. You can also look to make some savings on the grocery bill too - we budget £150 per month for the two of us and that includes meat mostly bought from farmers markets/direct from suppliers, free range eggs/chicken etc.
One further point off your earlier post - you say that unexpected expenses pop up regularly - you need to think through what these are and then work out why they are taking you by surprise. Obviously a tight budget doesn't make covering all the bases easy, but a lot of financial shocks can be saved or at least cushioned by planning ahead.🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
Balance as at 01/09/23 = £115,000.00
Balance as at 31/12/23 = £112,000.00SOA CALCULATOR (for DFW newbies): SOA Calculatorshe/her0 -
EssexHebridean wrote: »I assume with the exception of groceries the expenses you show are your 50% of most things? Does this accurately reflect your/OH's earnings, when the things that your OH pays for are taken into account? For example in our household OH earns substantially more than I do, therefore although he also has a bit more spending money than I do, he pays a good bit more towards joint/household stuff than I do.
The £30-odd you'll be saving on the mobile will go straight off to debt repayments I presume. You can also look to make some savings on the grocery bill too - we budget £150 per month for the two of us and that includes meat mostly bought from farmers markets/direct from suppliers, free range eggs/chicken etc.
One further point off your earlier post - you say that unexpected expenses pop up regularly - you need to think through what these are and then work out why they are taking you by surprise. Obviously a tight budget doesn't make covering all the bases easy, but a lot of financial shocks can be saved or at least cushioned by planning ahead.
Thank you for the comments, in relation to child expenses, I pay CSA for 3 of my kids. My eldest lives with me and in process of claiming CB.
The groceries are for 3 people full time and 3 on weekends when kids stay (that is also half of what i have stated as we budget and spend £400 a month (this includes toiletries, pet food, cleaning supplies and food)
When OH and i started living together (not the parent of my children) we discussed what each of us are paying for , everything apart from debts, mobile and CSA are halved) OH does have more disposable income than I do at the moment but i'm not wanting OH to pay for my previous debts or child support.Debt =£5,829.57 Aug 17 /£5,598.05 Mar 17/ £6,310.36 Feb 17/ £6,468.06 Jan 17/£6,593.06 Dec 16/ £6,545.36 Nov 16/ £6,886.82 Oct 16
SPC #0370
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