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  • FIRST POST
    • MeenaM
    • By MeenaM 5th Nov 17, 6:01 PM
    • 250Posts
    • 457Thanks
    MeenaM
    Dear Diary
    • #1
    • 5th Nov 17, 6:01 PM
    Dear Diary 5th Nov 17 at 6:01 PM
    Day 1 ....and we're off! so here is my list of income outgoings and debts, I have not included my husband's as for the moment I am concentrating on getting rid of my own debt ,

    so I have filled this in and copied here

    Statement of Affairs and Personal Balance Sheet

    Household Information
    Number of adults in household........... 2
    Number of children in household......... 2
    Number of cars owned.................... 1

    Monthly Income Details
    Monthly income after tax................ 1300
    Partners monthly income after tax....... 0
    Benefits................................ 222
    Other income............................ 137
    Total monthly income.................... 1659

    Monthly Expense Details
    Mortgage................................ 0
    Secured/HP loan repayments.............. 0
    Rent.................................... 0
    Management charge (leasehold property).. 0
    Council tax............................. 0
    Electricity............................. 0
    Gas..................................... 0
    Oil..................................... 0
    Water rates............................. 0
    Telephone (land line)................... 0
    Mobile phone............................ 71
    TV Licence.............................. 14
    Satellite/Cable TV...................... 0
    Internet Services....................... 0
    Groceries etc. ......................... 150
    Clothing................................ 0
    Petrol/diesel........................... 50
    Road tax................................ 15
    Car Insurance........................... 19
    Car maintenance (including MOT)......... 20
    Car parking............................. 0
    Other travel............................ 86
    Childcare/nursery....................... 100
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 8.6
    Pet insurance/vet bills................. 0
    Buildings insurance..................... 19
    Contents insurance...................... 0
    Life assurance ......................... 0
    Other insurance......................... 8.78
    Presents (birthday, christmas etc)...... 20
    Haircuts................................ 15
    Entertainment........................... 0
    Holiday................................. 0
    Emergency fund.......................... 0
    kids swimming........................... 14.5
    kids dancin............................. 16.67
    kids saving............................. 50
    national trust.......................... 9.55
    joint account........................... 400
    Total monthly expenses.................. 1087.1


    Assets
    Cash.................................... 0
    House value (Gross)..................... 0
    Shares and bonds........................ 0
    Car(s).................................. 1500
    Other assets............................ 0
    Total Assets............................ 1500

    No Secured nor Hire Purchase Debts

    Unsecured Debts
    Description....................Debt......Monthly.. .APR
    next...........................117.......6........ .29.9
    aa.............................860.......25....... .19
    barclays.......................4812......110...... .19
    sainsburys.....................425.......10....... .18
    virgin.........................4130......41.8..... .18
    Total unsecured debts..........10344.....192.8.....-


    Monthly Budget Summary
    Total monthly income.................... 1,659
    Expenses (including HP & secured debts). 1,087.1
    Available for debt repayments........... 571.9
    Monthly UNsecured debt repayments....... 192.8
    Amount left after debt repayments....... 379.1

    Personal Balance Sheet Summary
    Total assets (things you own)........... 1,500
    Total HP & Secured debt................. -0
    Total Unsecured debt.................... -10,344
    Net Assets.............................. -8,844

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























    I really want to figure out the best way of paying off the credit card debts , the AA is 0% until 13 December 2017 , The Sainsburys is 0 % until 20 Februrary 2018 and the Barclays is 0% until 1 April 2019

    Next- 117
    AA- 860
    Sainsburys 425
    Barclays 4800
    Virgin 4138

    total 10340
    Atm I am paying 280 towards the credit card debts

    I need help with either snowballing or high interest first , when the credit cards revert to interest charged they wil be about 22.5 %


    any help , advice or encouragement will be greatly appreciated
    Last edited by MeenaM; 25-11-2017 at 4:02 PM. Reason: adding information
Page 6
    • CoffeeCakeYarn
    • By CoffeeCakeYarn 26th Jan 18, 8:32 PM
    • 208 Posts
    • 683 Thanks
    CoffeeCakeYarn
    I bet he doesn't, have faith and remember to allocate him some guff money lol
    PAY BACK THE FUN SPEND! 38.72/137.67
    MBNA - 2233.51/2385 - 6.35%
    Emergency Fund 26/1000
    • enthusiasticsaver
    • By enthusiasticsaver 27th Jan 18, 12:11 AM
    • 6,597 Posts
    • 13,782 Thanks
    enthusiasticsaver
    You are doing brilliantly to get rid of the first two cards. Sainsbury!!!8217;s next hopefully. I would not ditch your pension payments. It may seem like this is money you can do with now but having a pension gives you choices later on when you come to retirement. Even a small monthly amount makes a difference as it grows in value.
    Debt free and mortgage free and early retiree. Living the dream

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages and Endowments, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • MeenaM
    • By MeenaM 28th Jan 18, 8:48 AM
    • 250 Posts
    • 457 Thanks
    MeenaM
    thanks Enthusiastic , I will leave my pension as it is for now and i plan on increasing it from its present 4.5 % contribution to 9% when I am debt free and have a 3-6 month emergency fund in place

    going to discuss the budget with hubby this afternoon, wish me luck !

    also got to pop into town today to buy some birthday cards and some presents for the birthdays this month , have an amount in my budget and will stick to within that
    Sealed Pot 11. #199Next1170Barclays Credit Card 4891.20/0- 0% ends April 2019 virgin 0% ends july 2020 4138 3845.89AA Credit Card 860 0- 0% ends Dec 2017 Sainsburys Credit Card 521.27-0 0% ends Feb 2018 STARTED Nov 17AIM TO BE DEBT FREE JULY 2019Emergency Fund 614/1000
    • MeenaM
    • By MeenaM 28th Jan 18, 3:54 PM
    • 250 Posts
    • 457 Thanks
    MeenaM
    well the budget meeting went ahead, I have discovered DH spends quite a lot on water/fizzy water during the week it adds up to around 60 a month ! but atm he is not giving it up, he doesnt smoke or drink alcohol , he is agreeable to the budget i have set for the month so here is hoping he will stick to it
    i got the presents and cards i wanted in town i had a gift card for Next from christmas i used that to buy a nice new top for me and the remainder i used for one present and two cards so that was a bonus and saved some money
    Sealed Pot 11. #199Next1170Barclays Credit Card 4891.20/0- 0% ends April 2019 virgin 0% ends july 2020 4138 3845.89AA Credit Card 860 0- 0% ends Dec 2017 Sainsburys Credit Card 521.27-0 0% ends Feb 2018 STARTED Nov 17AIM TO BE DEBT FREE JULY 2019Emergency Fund 614/1000
    • MeenaM
    • By MeenaM 2nd Feb 18, 11:09 AM
    • 250 Posts
    • 457 Thanks
    MeenaM
    Hey everyone! Got some extra pay this month so have just paid off another 200 to the Sainsburys card , and 150 into my emergency fund . I do have enough in my budget to pay the 201 that will now be outstanding on the Sainsburys card but being extra cautious I will leave paying that until just before next payday , just in case , as i dont yet have 1000 emergency fund I want to do it that way atm

    Going out for lunch today looking forward to it

    hope all have a good Friday x
    Sealed Pot 11. #199Next1170Barclays Credit Card 4891.20/0- 0% ends April 2019 virgin 0% ends july 2020 4138 3845.89AA Credit Card 860 0- 0% ends Dec 2017 Sainsburys Credit Card 521.27-0 0% ends Feb 2018 STARTED Nov 17AIM TO BE DEBT FREE JULY 2019Emergency Fund 614/1000
    • MeenaM
    • By MeenaM 3rd Feb 18, 9:37 PM
    • 250 Posts
    • 457 Thanks
    MeenaM
    Decided to pay off the Sainsburys CC , that way I don't have the money to be tempted by , so now on the strict budget until pay day , YAY another CC gone for ever!!!!!!!!!!!!
    Sealed Pot 11. #199Next1170Barclays Credit Card 4891.20/0- 0% ends April 2019 virgin 0% ends july 2020 4138 3845.89AA Credit Card 860 0- 0% ends Dec 2017 Sainsburys Credit Card 521.27-0 0% ends Feb 2018 STARTED Nov 17AIM TO BE DEBT FREE JULY 2019Emergency Fund 614/1000
    • ladymay
    • By ladymay 4th Feb 18, 7:21 AM
    • 919 Posts
    • 3,944 Thanks
    ladymay
    *dun dun dun*....

    Another one bites the dust!
    Moved back to the UK 05/01/18
    New Job and New Business
    2018 Aim - Save 10k
    • MeenaM
    • By MeenaM 4th Feb 18, 9:25 AM
    • 250 Posts
    • 457 Thanks
    MeenaM
    yay! thanks LadyMay !!
    Sealed Pot 11. #199Next1170Barclays Credit Card 4891.20/0- 0% ends April 2019 virgin 0% ends july 2020 4138 3845.89AA Credit Card 860 0- 0% ends Dec 2017 Sainsburys Credit Card 521.27-0 0% ends Feb 2018 STARTED Nov 17AIM TO BE DEBT FREE JULY 2019Emergency Fund 614/1000
    • CoffeeCakeYarn
    • By CoffeeCakeYarn 5th Feb 18, 4:53 PM
    • 208 Posts
    • 683 Thanks
    CoffeeCakeYarn
    Great news on both the DH and budget and the payments! YAY!

    I think sometimes you just have to accept that spends will happen, and if you try and pull too tight with other people they might just rebel completely. Let him have the fizzy if it's his only vice, it could be a ton worse

    So happy to see the CC gone for you! Well done xx
    PAY BACK THE FUN SPEND! 38.72/137.67
    MBNA - 2233.51/2385 - 6.35%
    Emergency Fund 26/1000
    • beanielou
    • By beanielou 5th Feb 18, 8:14 PM
    • 54,866 Posts
    • 218,947 Thanks
    beanielou
    Great news on another card down
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 11 lbs **

    "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.
    It starts with you, it starts from now. *** It is ok to be me.***
    ***Keep plodding***
    Out of debt, out of danger.
    • SnowBallBunny
    • By SnowBallBunny 5th Feb 18, 10:26 PM
    • 141 Posts
    • 282 Thanks
    SnowBallBunny
    Well done on the paid off CCs and budgeting! Wonderful to see your progress.
    Credit Card 1 6,000/5,462.76 Debit Card 5,000/4,038.61 (Debit Card includes Emergency Fund 1000) Credit Card 2 1200/822.91 Tax Bill 750/0 Library Fine 90/0 Accountancy Bill 720/0 Cancelled Art Project Donation 15/0
    Total 13,199/10,324

    A SnowballBunny, hopping my way to Financial Freedom.
    • DebtFreeFrog
    • By DebtFreeFrog 6th Feb 18, 1:10 PM
    • 56 Posts
    • 141 Thanks
    DebtFreeFrog
    Wow, amazing.
    Another one gone!
    07/11/17 8199.31 Debt
    • MeenaM
    • By MeenaM 10th Feb 18, 2:26 PM
    • 250 Posts
    • 457 Thanks
    MeenaM
    thanks everyone! its great to have some cheerleaders ! I'm having another no spending weekend also DH is doing well on his budget and we are getting him his fizzy water to take to work from Aldi so that is saving on his usual garage purchases , at work they want to go out for lunch but its going to cost 22 ! seriously dont want to spend that but i am out voted, it will be next month .. grrr
    Sealed Pot 11. #199Next1170Barclays Credit Card 4891.20/0- 0% ends April 2019 virgin 0% ends july 2020 4138 3845.89AA Credit Card 860 0- 0% ends Dec 2017 Sainsburys Credit Card 521.27-0 0% ends Feb 2018 STARTED Nov 17AIM TO BE DEBT FREE JULY 2019Emergency Fund 614/1000
    • MeenaM
    • By MeenaM 10th Feb 18, 5:01 PM
    • 250 Posts
    • 457 Thanks
    MeenaM
    paid 6 off Barclays CC from an ebay sale
    Sealed Pot 11. #199Next1170Barclays Credit Card 4891.20/0- 0% ends April 2019 virgin 0% ends july 2020 4138 3845.89AA Credit Card 860 0- 0% ends Dec 2017 Sainsburys Credit Card 521.27-0 0% ends Feb 2018 STARTED Nov 17AIM TO BE DEBT FREE JULY 2019Emergency Fund 614/1000
    • MeenaM
    • By MeenaM 15th Feb 18, 9:14 PM
    • 250 Posts
    • 457 Thanks
    MeenaM
    Got 23 to last until next Friday and payday , DH paying for Aldi tomorrow, child benefit will be paid Monday but i am going to try my best not to spend it and instead throw it at the CC
    Sealed Pot 11. #199Next1170Barclays Credit Card 4891.20/0- 0% ends April 2019 virgin 0% ends july 2020 4138 3845.89AA Credit Card 860 0- 0% ends Dec 2017 Sainsburys Credit Card 521.27-0 0% ends Feb 2018 STARTED Nov 17AIM TO BE DEBT FREE JULY 2019Emergency Fund 614/1000
    • CoffeeCakeYarn
    • By CoffeeCakeYarn 16th Feb 18, 9:53 AM
    • 208 Posts
    • 683 Thanks
    CoffeeCakeYarn
    Keep going xx
    PAY BACK THE FUN SPEND! 38.72/137.67
    MBNA - 2233.51/2385 - 6.35%
    Emergency Fund 26/1000
    • MeenaM
    • By MeenaM 17th Feb 18, 10:11 AM
    • 250 Posts
    • 457 Thanks
    MeenaM
    thanks coffee! I have now received the child benefit, have paid 100 off the Barclays CC , I will leave the 37 until payday and pay that over as well. Had 100 extra in our joint account this month so will put that towards it to on pay day , then i can put 150 into the savings/ongoing commitment fund like car maintenance etc

    can't wait to see that CC below 4000 then I will really feel like I am getting somewhere

    have a good weekend all
    Sealed Pot 11. #199Next1170Barclays Credit Card 4891.20/0- 0% ends April 2019 virgin 0% ends july 2020 4138 3845.89AA Credit Card 860 0- 0% ends Dec 2017 Sainsburys Credit Card 521.27-0 0% ends Feb 2018 STARTED Nov 17AIM TO BE DEBT FREE JULY 2019Emergency Fund 614/1000
    • ladymay
    • By ladymay 17th Feb 18, 3:47 PM
    • 919 Posts
    • 3,944 Thanks
    ladymay
    You're doing fantastically, Meena - look how far you've come in three months!
    Moved back to the UK 05/01/18
    New Job and New Business
    2018 Aim - Save 10k
    • MeenaM
    • By MeenaM 17th Feb 18, 8:45 PM
    • 250 Posts
    • 457 Thanks
    MeenaM
    *dun dun dun*....

    Another one bites the dust!
    Originally posted by ladymay
    You're doing fantastically, Meena - look how far you've come in three months!
    Originally posted by ladymay
    I know , I can't quite believe it! it's amazing what you can do when you get focused , and the fact I can survive with out buying new make up and clothes for this long! I look like a badger now though need to get my roots and high lights done booked in for next Sat , the day after pay day last hair cut was in Nov!
    Sealed Pot 11. #199Next1170Barclays Credit Card 4891.20/0- 0% ends April 2019 virgin 0% ends july 2020 4138 3845.89AA Credit Card 860 0- 0% ends Dec 2017 Sainsburys Credit Card 521.27-0 0% ends Feb 2018 STARTED Nov 17AIM TO BE DEBT FREE JULY 2019Emergency Fund 614/1000
    • redofromstart
    • By redofromstart 17th Feb 18, 9:00 PM
    • 1,761 Posts
    • 10,593 Thanks
    redofromstart
    You are doing really well - good to see the cleared ones in your signature.

    I'm with you on the essential anti-badger hair, that is a non-negotiable in my budget although I suppose I could go back to doing my own if I really had to.
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