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  • FIRST POST
    • WannabeFree
    • By WannabeFree 21st Nov 17, 11:04 AM
    • 2,051Posts
    • 18,703Thanks
    WannabeFree
    ôRock bottom became the solid foundation on which I rebuilt my life.ö
    • #1
    • 21st Nov 17, 11:04 AM
    ôRock bottom became the solid foundation on which I rebuilt my life.ö 21st Nov 17 at 11:04 AM
    Back in May this year I decided things had to change. I turned to here and received an amazing amount of help and advice. Here I am making a fresh start.

    Debt 09/05/2017

    Council Tax ú2092.71
    Court Fine ú1250
    Court Fine ú200
    Person 1 ú1000
    Person 2 ú1000
    Person 3 ú1379
    Person 4 ú427
    Debt Total ú7348.71

    Rent Arrears ú3381.28

    Total ú10729.99

    *Person 4 ú575
    *New Debt ú732
    *Debt 1 ú387.29
    *Debt 2 ú1451.40
    *Debt 3 ú1137.73
    *EDF ú3140.65

    Total ú18154.06

    *As more comes out from under the carpet I will update here.
    Last edited by WannabeFree; 21-11-2017 at 12:21 PM.
Page 112
    • WannabeFree
    • By WannabeFree 6th Aug 18, 9:25 PM
    • 2,051 Posts
    • 18,703 Thanks
    WannabeFree
    New SOA time. Thoughts and help welcome as always

    Statement of Affairs and Personal Balance Sheet

    Household Information

    Number of adults in household........... 1
    Number of children in household......... 3
    Number of cars owned.................... 0

    Monthly Income Details

    Monthly income after tax................ 1126
    Partners monthly income after tax....... 0
    Benefits................................ 455.8
    Other income............................ 565 DLA for youngest
    Total monthly income.................... 2146.8


    Monthly Expense Details

    Mortgage................................ 0
    Secured/HP loan repayments.............. 0
    Rent.................................... 550
    Management charge (leasehold property).. 0
    Council tax............................. 95 This will go down in April when it can be spread over 12 months
    Electricity............................. 30 Prepayment
    Gas..................................... 20 Prepayment
    Oil..................................... 0
    Water rates............................. 39 No meter, they said it would be more expensive?
    Telephone (land line)................... 0
    Mobile phone............................ 10 Pay as you go
    TV Licence.............................. 12.2 Weekly payment card
    Satellite/Cable TV...................... 39 I know I know
    Internet Services....................... 0
    Groceries etc. ......................... 220 This feels huge.
    Clothing................................ 30 Realistic for us all I think
    Petrol/diesel........................... 0
    Road tax................................ 0
    Car Insurance........................... 0
    Car maintenance (including MOT)......... 0
    Car parking............................. 0
    Other travel............................ 60 Bus pass
    Childcare/nursery....................... 0
    Other child related expenses............ 60 School trips/breakfast club etc
    Medical (prescriptions, dentist etc).... 0
    Pet insurance/vet bills................. 17 2 dogs one old with history of the big C
    Buildings insurance..................... 0
    Contents insurance...................... 8 Still can't find cheaper. I do live in a ghetto
    Life assurance ......................... 0
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 50 Too high probably
    Haircuts................................ 10 Just DS
    Entertainment........................... 60 Maybe this could be less
    Holiday................................. 40 And this
    Emergency fund.......................... 50 I actually save this now
    DLA..................................... 565
    Total monthly expenses.................. 1965.2



    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
    Rent...........................2200......55....... .0
    Council Tax....................825.......100.......0
    Total unsecured debts..........3025......155.......-



    Monthly Budget Summary

    Total monthly income.................... 2,146.8
    Expenses (including HP & secured debts). 1,965.2
    Available for debt repayments........... 181.6
    Monthly UNsecured debt repayments....... 155
    Amount left after debt repayments....... 26.6


    Personal Balance Sheet Summary
    Total assets (things you own)........... 0
    Total HP & Secured debt................. -0
    Total Unsecured debt.................... -3,025
    Net Assets.............................. -3,025


    Created using the SOA calculator at www.stoozing.com.
    Reproduced on Moneysavingexpert with permission, using other browser.
    Last edited by WannabeFree; 06-08-2018 at 9:29 PM.
    ôOnce you hit rock bottom, that's where you perfectly stand; That's your chance of restarting, but restarting the right way.ö
    • beanielou
    • By beanielou 6th Aug 18, 9:37 PM
    • 58,966 Posts
    • 244,913 Thanks
    beanielou
    TBH your SOA looks fine to me.
    YOu need to eat & have a wee bit of a life so not to worry and you have enough to cover your rent & CT arrears so all good.
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 12 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. ***Be the difference.***
    • beanielou
    • By beanielou 6th Aug 18, 9:42 PM
    • 58,966 Posts
    • 244,913 Thanks
    beanielou
    The only thing is that come the winter you might need to pay more for your gas but not to worry about that at the moment.
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 12 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. ***Be the difference.***
    • UncannyScot
    • By UncannyScot 6th Aug 18, 9:51 PM
    • 1,712 Posts
    • 9,453 Thanks
    UncannyScot
    Your budget for groceries is less than mine
    As long as everyone is fed and there is little to no waste then you're doing fine.
    ... must revisit my shopping spends...
    BUGGRITMILLENIUMHANDANDSHRIMP I TOLD EM! - Foul Ole Ron
    It is important that we know where we come from, because if you do not know where you come from, then you do not know where you are, and if you don't know where you are, then you don't know where you are going. If you don't know where you're going, you're probably going wrong.
    R.I.P. T.P.
    • Purplemumof2
    • By Purplemumof2 7th Aug 18, 8:33 AM
    • 6,562 Posts
    • 24,770 Thanks
    Purplemumof2
    Morning lovely,

    Your SOA looks great to me too, I wish mine looked as good as yours.

    Have a lovely day xx
    Official DFW Nerd Club - Member no. 791 - Proud to be dealing with my debts
    MBNA: ú5550.00 Lloyds: ú9778.00 BC: GONE Cap One: GONE

    POAMAYC 2019 #041 PD ú0.00/ú4000
    Savings for Christmas ú0.00/ú500
    20p Savers 2018 ú2 Savers 2018 50p Savers 2018 SPC 12 2019 #003
    • abba1772
    • By abba1772 7th Aug 18, 8:54 AM
    • 5,405 Posts
    • 20,333 Thanks
    abba1772
    Looks good wannabe xx
    NEXT TARGET ARGOS WAS Dec 18 ú391.95 NOW ú372.50
    POAMAYC 2011 ú6382.66 POAMAYC 2012 ú5000.78
    POAMAYC 2013 ú3480.04 POAMAYC 2014 ú4085.14
    POAMAYC 2015 ú7565.24 POAMAYC 2016 ú8000.90
    POAMAYC 2017 ú7278.80 POAMAYC 2018 ú12936.54
    • Toni'sfriend
    • By Toni'sfriend 7th Aug 18, 10:40 AM
    • 1,712 Posts
    • 16,775 Thanks
    Toni'sfriend
    Morning W,
    Your SOA looks fantastic to me. I don't think your groceries are too high. There are four of you and your children are well fed living on proper meals and not junk food. The same with birthdays, holidays and entertainment - you need to live and not just exist. And you're actually putting together an emergency fund!
    Honestly, I am amazed at how far you've come
    • UncannyScot
    • By UncannyScot 7th Aug 18, 10:54 AM
    • 1,712 Posts
    • 9,453 Thanks
    UncannyScot
    Morning W,
    Your SOA looks fantastic to me. I don't think your groceries are too high. There are four of you and your children are well fed living on proper meals and not junk food. The same with birthdays, holidays and entertainment - you need to live and not just exist. And you're actually putting together an emergency fund!
    Honestly, I am amazed at how far you've come
    Originally posted by Toni'sfriend
    Absolutely ^^^^^
    BUGGRITMILLENIUMHANDANDSHRIMP I TOLD EM! - Foul Ole Ron
    It is important that we know where we come from, because if you do not know where you come from, then you do not know where you are, and if you don't know where you are, then you don't know where you are going. If you don't know where you're going, you're probably going wrong.
    R.I.P. T.P.
    • WannabeFree
    • By WannabeFree 7th Aug 18, 11:26 AM
    • 2,051 Posts
    • 18,703 Thanks
    WannabeFree
    Thank you, I've moved everything around and I think it's near enough where it should. I have ú33 left in the bank so not far out.

    The presents I thought might have been quite high as I only buy for my 3. But that's their birthdays/xmas/easter etc and includes everything needed for them (extra treat food/cake/decorations etc)

    Before I just used the grocery budget for everything (entertainment/travel/gifts etc) and I was always finding me over budget and wondering why now it makes sense

    The emergency fund is actually saved with credit union so I can't dip into it unless I go into town with ID and request to take it out. No temptation.

    Youngest DLA goes into a separate account and pays for all her 'extras' nappies/medicines/pharmacy things along with some bigger things she's needed. For instance shoes I take the 'normal' amount from the clothing budget and top it up from her DLA to get the correct ones. Although she has been wearing 'normal' shoes when going out now as she realises hers where 'different'. But there is money there should we need an hospital trip late at night/an unplanned stay etc along with expenses of the city hospital trips.
    ôOnce you hit rock bottom, that's where you perfectly stand; That's your chance of restarting, but restarting the right way.ö
    • WannabeFree
    • By WannabeFree 7th Aug 18, 11:27 AM
    • 2,051 Posts
    • 18,703 Thanks
    WannabeFree
    Morning

    Thank you for all your replies

    Hope you all have a good day!

    Today will be another NSD. DD is feeling better but will leave going out until tomorrow to make sure we don't share it round.

    x
    ôOnce you hit rock bottom, that's where you perfectly stand; That's your chance of restarting, but restarting the right way.ö
    • jwil
    • By jwil 7th Aug 18, 12:47 PM
    • 9,369 Posts
    • 30,337 Thanks
    jwil
    You've done really well to turn everything around. SOA look good to me
    "If you can dream it, you can do it". Walt Disney
    • Sun Addict
    • By Sun Addict 7th Aug 18, 8:51 PM
    • 6,429 Posts
    • 44,872 Thanks
    Sun Addict
    I don't see where you could cut down to be honest. I think you've done the best you can - you still need to live but you don't exactly go mad. Well done
    Virtual Sealed Pot 2010 ú21.63
    Debt ú1880
    Weight loss 0/6LBS
    Emergency Fund ú4000/ú10,000
    • mummytogirls
    • By mummytogirls 7th Aug 18, 8:57 PM
    • 6,338 Posts
    • 24,013 Thanks
    mummytogirls
    Evening SA, SOA looks good to me xx
    Mummytogirls x

    ú23164.32 - 12/12/10
    ú5419.83 - 08/04/18 - 76.61% paid off
    • WannabeFree
    • By WannabeFree 7th Aug 18, 9:52 PM
    • 2,051 Posts
    • 18,703 Thanks
    WannabeFree
    Thank you

    That gives a DFD of 19ish Months away. I want to aim to get that sooner though Need to think of something realistic. This time next year would be amazing
    ôOnce you hit rock bottom, that's where you perfectly stand; That's your chance of restarting, but restarting the right way.ö
    • beanielou
    • By beanielou 7th Aug 18, 9:58 PM
    • 58,966 Posts
    • 244,913 Thanks
    beanielou
    You could always try for the end of 2019?
    Dont put too much pressure on yourself though!
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 12 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. ***Be the difference.***
    • WannabeFree
    • By WannabeFree 7th Aug 18, 10:01 PM
    • 2,051 Posts
    • 18,703 Thanks
    WannabeFree
    That's a good idea beanie. Maybe for Xmas 2019 it could be my present to myself

    All this talk of Xmas makes me excited! I'm looking forward to Christmas this year and that's coming from me who hates it usually

    x
    ôOnce you hit rock bottom, that's where you perfectly stand; That's your chance of restarting, but restarting the right way.ö
    • beanielou
    • By beanielou 7th Aug 18, 10:06 PM
    • 58,966 Posts
    • 244,913 Thanks
    beanielou
    In 8 months or so (I think?) your CT will be done & then you could chuck a bit more at the rent then.
    Just a thought?
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 12 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. ***Be the difference.***
    • Toni'sfriend
    • By Toni'sfriend 8th Aug 18, 8:50 AM
    • 1,712 Posts
    • 16,775 Thanks
    Toni'sfriend
    In 8 months or so (I think?) your CT will be done & then you could chuck a bit more at the rent then.
    Just a thought?
    That's a great idea, if you can manage it. The rent arrears would be gone in no time.
    Have a nice day, W.
    • Purplemumof2
    • By Purplemumof2 8th Aug 18, 8:58 AM
    • 6,562 Posts
    • 24,770 Thanks
    Purplemumof2
    In 8 months or so (I think?) your CT will be done & then you could chuck a bit more at the rent then.
    Just a thought?
    Originally posted by beanielou


    That's a fantastic idea, Wannabe you'll be debt free sooner than you know it xx
    Official DFW Nerd Club - Member no. 791 - Proud to be dealing with my debts
    MBNA: ú5550.00 Lloyds: ú9778.00 BC: GONE Cap One: GONE

    POAMAYC 2019 #041 PD ú0.00/ú4000
    Savings for Christmas ú0.00/ú500
    20p Savers 2018 ú2 Savers 2018 50p Savers 2018 SPC 12 2019 #003
    • WannabeFree
    • By WannabeFree 8th Aug 18, 9:18 PM
    • 2,051 Posts
    • 18,703 Thanks
    WannabeFree
    Evening

    Thank you for thoughts. That is using the CT money to the rent (When it's paid) ú155 a month is 19ish months I think. Maths isn't a strong point I have fiddled with my spreadsheet though and I can at least overpay the rent even by just a few pounds a week until then even if it's only ú5 by the time the CT is paid it's an extra ú165 knocking a month of the DFD.

    x
    ôOnce you hit rock bottom, that's where you perfectly stand; That's your chance of restarting, but restarting the right way.ö
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