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  • FIRST POST
    • Plain Jane
    • By Plain Jane 30th Jul 17, 9:04 PM
    • 75Posts
    • 103Thanks
    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
    • 75 Posts
    • 103 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
    • 75 Posts
    • 103 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
    • 75 Posts
    • 103 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
    • 75 Posts
    • 103 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
    • 75 Posts
    • 103 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
    • 75 Posts
    • 103 Thanks
    Plain Jane
    New signature!
    1st March 2018 - Barclaycard 12,843.39 12047.93, MBNA 1 5734.86 5676.72, MBNA 2 9209.36 9209.36, Optima (Boiler) 1930, Halifax 4865.404865.40 - TOTAL 34582.83 33729
    • Plain Jane
    • By Plain Jane 1st Mar 18, 4:49 PM
    • 75 Posts
    • 103 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 March 2018 - Barclaycard 12,843.39 12047.93, MBNA 1 5734.86 5676.72, MBNA 2 9209.36 9209.36, Optima (Boiler) 1930, Halifax 4865.404865.40 - TOTAL 34582.83 33729
    • Plain Jane
    • By Plain Jane 3rd Mar 18, 3:04 PM
    • 75 Posts
    • 103 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 March 2018 - Barclaycard 12,843.39 12047.93, MBNA 1 5734.86 5676.72, MBNA 2 9209.36 9209.36, Optima (Boiler) 1930, Halifax 4865.404865.40 - TOTAL 34582.83 33729
    • Kitten868
    • By Kitten868 3rd Mar 18, 4:32 PM
    • 883 Posts
    • 1,847 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 6000/8000
    Loan 2 4000/5800
    Total 10000/13800 27% PAID
    • Plain Jane
    • By Plain Jane 24th Mar 18, 6:05 PM
    • 75 Posts
    • 103 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 March 2018 - Barclaycard 12,843.39 12047.93, MBNA 1 5734.86 5676.72, MBNA 2 9209.36 9209.36, Optima (Boiler) 1930, Halifax 4865.404865.40 - TOTAL 34582.83 33729
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