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really need some help please!!:student in debt and finishing college!
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littlepinkstars44
Posts: 2,950 Forumite
Ok, so college finishes on 3 weeks, and no more student loan till uni starts in september (thats if i get my B i need!)
So i'm going to have to live off my wages, i am on a 9 hour contract at £6.00 an hour, and doubt i'll be able to get my contract increases anytime soon, i tried last month and was told no.
But i do usually get about 16 hours a week, last week i done 28 hours!
But i am really scared, cause i am losing out on £350 a month with my student loan and bursary finishing, and i have no idea how i am going to live just soley off my wages.
I have filled out an SOA below, if anyone can help me out and give me any ideas i'd be so grateful!
thanks!
Statement of Affairs and Personal Balance Sheet
Monthly Income Details
Monthly income after tax................ 350
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 350
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 150
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 25
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 0
Clothing................................ 20
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 40
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 5
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 30
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 270
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
Kays...........................100.......15........0
Additions......................100.......15........37.9
Topshop card...................200.......10........29.9
Student Overdraft #2...........1000......0.........0
Student Overdraft#1............1250......0.........0
New Look Card..................90........10........28.9
Dorothy Perkins Card...........200.......10........29.9
Total unsecured debts..........2940......60........-
Monthly Budget Summary
Total monthly income.................... 350
Expenses (including HP & secured debts). 270
Available for debt repayments........... 80
Monthly UNsecured debt repayments....... 60
Amount left after debt repayments....... 20
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -2,940
Net Assets.............................. -2,940
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.
So i'm going to have to live off my wages, i am on a 9 hour contract at £6.00 an hour, and doubt i'll be able to get my contract increases anytime soon, i tried last month and was told no.
But i do usually get about 16 hours a week, last week i done 28 hours!
But i am really scared, cause i am losing out on £350 a month with my student loan and bursary finishing, and i have no idea how i am going to live just soley off my wages.
I have filled out an SOA below, if anyone can help me out and give me any ideas i'd be so grateful!
thanks!
Statement of Affairs and Personal Balance Sheet
Monthly Income Details
Monthly income after tax................ 350
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 350
Monthly Expense Details
Mortgage................................ 0
Secured/HP loan repayments.............. 0
Rent.................................... 150
Management charge (leasehold property).. 0
Council tax............................. 0
Electricity............................. 0
Gas..................................... 0
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 0
Mobile phone............................ 25
TV Licence.............................. 0
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 0
Clothing................................ 20
Petrol/diesel........................... 0
Road tax................................ 0
Car Insurance........................... 0
Car maintenance (including MOT)......... 0
Car parking............................. 0
Other travel............................ 40
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 5
Pet insurance/vet bills................. 0
Buildings insurance..................... 0
Contents insurance...................... 0
Life assurance ......................... 0
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 30
Holiday................................. 0
Emergency fund.......................... 0
Total monthly expenses.................. 270
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
Kays...........................100.......15........0
Additions......................100.......15........37.9
Topshop card...................200.......10........29.9
Student Overdraft #2...........1000......0.........0
Student Overdraft#1............1250......0.........0
New Look Card..................90........10........28.9
Dorothy Perkins Card...........200.......10........29.9
Total unsecured debts..........2940......60........-
Monthly Budget Summary
Total monthly income.................... 350
Expenses (including HP & secured debts). 270
Available for debt repayments........... 80
Monthly UNsecured debt repayments....... 60
Amount left after debt repayments....... 20
Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -2,940
Net Assets.............................. -2,940
Created using the SOA calculator at www.makesenseofcards.com.
Reproduced on Moneysavingexpert with permission, using IE browser.
0
Comments
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Looking at the store card interest, I would say def cut those up. At these rates of interest, you will end up paying way over the odds for your clothes!0
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i havent used any of the store cards since last summer!
Just now it says i only have £20 left to spend on myself, which i cannot manage! I am not used to not being able to buy myself things
I don't really know what else i can do, i'm not sure if i can get a second job as i don't have set shifts just now, and basically just get told when i'm working at the moment. which can be anytime from 8am-10pm Mon-Sun.
So i am kinda wary of getting a second job, incase shifts clash!0 -
If you still live at home with your parents ask them to reduce your rent for a while whilst you clear your debts.
I agree with the others - cut up your cards and stop buying clothes and makeup, shop from your wardrobe instead. Use the £20 you spend on yourself and put that towards your debts as you will be able to pay them off quicker. Sell clothes on ebay and any unread books and unlistened to CDs.0 -
I can't ask my mum to reduce my diggs money, infact shes going to be puttin it up over the summer to £200, cause she can't afford to keep me here when i'm only paying £150 to herIf you still live at home with your parents ask them to reduce your rent for a while whilst you clear your debts.
I agree with the others - cut up your cards and stop buying clothes and makeup, shop from your wardrobe instead. Use the £20 you spend on yourself and put that towards your debts as you will be able to pay them off quicker. Sell clothes on ebay and any unread books and unlistened to CDs.
I've already sold everything i can on ebay, i dont have any cds, i download all my music0 -
i'm just not sure how i am going to get to college all week
0 -
Hi do you have family apart from your mum that you can borrow money from. Maybe a friend at work. Ask if a nieghbour if you can walk the dog, wash the car,babysit. How about a paper round, Avon
Anyone even those not on benefits can get a crisis loan from the dhss you just have to show your in need.0 -
Whats the dhss?Hi do you have family apart from your mum that you can borrow money from. Maybe a friend at work. Ask if a nieghbour if you can walk the dog, wash the car,babysit. How about a paper round, Avon
Anyone even those not on benefits can get a crisis loan from the dhss you just have to show your in need.
We don't have a car, we dont speak to any of the neighbours, they are all totaly junkies!
Theres only my dad, and i don't speak to him, unless its to phone to talk to my little sister and he answers the phone.
I can't ask my grandpa, cause i already owe him £50 from last month that i haven't paid him back 0 -
littlepinkstars44 wrote: »i havent used any of the store cards since last summer!
Just now it says i only have £20 left to spend on myself, which i cannot manage! I am not used to not being able to buy myself things
I don't really know what else i can do, i'm not sure if i can get a second job as i don't have set shifts just now, and basically just get told when i'm working at the moment. which can be anytime from 8am-10pm Mon-Sun.
So i am kinda wary of getting a second job, incase shifts clash!
:wave:
Can you ask if you can have a more permanent shift as you would like to get a 2nd job to increase your income? (or ask them for more hours maybe)
:wave:Very proud of trying to deal with my debts. LBM 04/09
:T
[STRIKE]£34.217[/STRIKE] ~ 05/09. £33.817~ 06/09
to [STRIKE]13 [/STRIKE] 12 creditors. Doing my own DMP. :dance:
DMP mutual support member 309. NSD 12/120 -
I have asked for my contract to be increases, twice. No one else in my department is on a 9 hour contract, they are all more! Even the new starts, and i've been there for a year, and am one of the members of staff who has been there the longest! I was even meant to be promoted a few months ago, and that fell through too. Their excuse is they can't afford it...but yet last week they gave me 28 hours, when they know i have exams!:wave:
Can you ask if you can have a more permanent shift as you would like to get a 2nd job to increase your income? (or ask them for more hours maybe)
:wave:
My best friend takes over the department as the manager, as of monday!
Thank god, so hopefully she will get everything fixed for me!0 -
littlepinkstars44 wrote: »I have asked for my contract to be increases, twice. No one else in my department is on a 9 hour contract, they are all more! Even the new starts, and i've been there for a year, and am one of the members of staff who has been there the longest! I was even meant to be promoted a few months ago, and that fell through too. Their excuse is they can't afford it...but yet last week they gave me 28 hours, when they know i have exams!
My best friend takes over the department as the manager, as of monday!
Thank god, so hopefully she will get everything fixed for me!
Oo well something good might come of that then :TVery proud of trying to deal with my debts. LBM 04/09
:T
[STRIKE]£34.217[/STRIKE] ~ 05/09. £33.817~ 06/09
to [STRIKE]13 [/STRIKE] 12 creditors. Doing my own DMP. :dance:
DMP mutual support member 309. NSD 12/120
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