My 5 year plan
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Well it's been a rather eventless weekend, not a lot to report but did have a dry weekend with no takeaways! Weight this morning is 16st 12 so I'm taking that as gospel this time! Not going to weigh myself again until end of Feb as don't want to become obsessive about it.
Also had a chat with Mrs fatrab about a few things, and I think we're now on the same page with the plan going forwards. Time will tell.
Yesterday turned into an NSD for me as Mrs fatrab bought the shopping. I've been taking over all the monthly outgoings as she'll be on statutory maternity pay for the next 2 months so my SOA needs updated slightly for Feb, I'll do that at end of Jan once I know what my total outgoings were. But she had a decent wage in January so that's going to be a secondary "fund" just in case of any unexpected expenses over the next few months.
Enjoy the rest of the weekend everyone!You can have results or excuses, but not both.Challenge - be 14 Stone BY XMAS!
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So last week's spending looked like this:
Fuel 73%
Shopping 15%
Travel 7%
Eating out 5%
Another NSD today too!
I'm definitely staying off the alcohol for the next few months so that'll help the weight loss.
Back to coasting along waiting for payday again! 4 weeks til the MBNA card gets clearedYou can have results or excuses, but not both.Challenge - be 14 Stone BY XMAS!
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So, following the deletion of "My 5 Year Plan" I have made a new thread. Hopefully this one will survive. Here's the basics:
Year 1 - Pay tax bill, clear credit card 1, pay off loan. Pay Insurances in full instead of monthly. Cancel 3 Vodafone contracts.
Year 2 - Pay off my HP for the car.
Year 3 - Clear credit card and start overpaying mortgage
Years 4 & 5 - Overpay mortgage
Statement of Affairs and Personal Balance Sheet
Household Information
Number of adults in household........... 2
Number of children in household......... 1
Number of cars owned.................... 2
Monthly Income Details
Monthly income after tax................ 3459.46
Partners monthly income after tax....... 0
Benefits................................ 0
Other income............................ 167
Total monthly income.................... 3626.46
Monthly Expense Details
Mortgage................................ 801
Secured/HP loan repayments.............. 402
Rent.................................... 250
Management charge (leasehold property).. 0
Council tax............................. 136
Electricity............................. 35
Gas..................................... 40
Oil..................................... 0
Water rates............................. 0
Telephone (land line)................... 10
Mobile phone............................ 70
TV Licence.............................. 12.12
Satellite/Cable TV...................... 13
Internet Services....................... 10
Groceries etc. ......................... 230
Clothing................................ 0
Petrol/diesel........................... 300
Road tax................................ 43
Car Insurance........................... 34
Car maintenance (including MOT)......... 25
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 0
Pet insurance/vet bills................. 0
Buildings insurance..................... 13
Contents insurance...................... 0
Life assurance ......................... 6.81
Other insurance......................... 0
Presents (birthday, christmas etc)...... 0
Haircuts................................ 0
Entertainment........................... 0
Holiday................................. 0
Emergency fund.......................... 0
Netflix................................. 5.99
Total monthly expenses.................. 2436.92
Assets
Cash.................................... 1002
House value (Gross)..................... 128000
Shares and bonds........................ 0
Car(s).................................. 26000
Other assets............................ 0
Total Assets............................ 155002
Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 64730....(801)......3.14
Hire Purchase (HP) debt ...... 20000....(402)......6.9
Total secured & HP debts...... 84730.....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
Loan...........................6017......167.......3.1
Credit card....................4000......110.......0
Total unsecured debts..........10017.....277.......-
Monthly Budget Summary
Total monthly income.................... 3,626.46
Expenses (including HP & secured debts). 2,436.92
Available for debt repayments........... 1,189.54
Monthly UNsecured debt repayments....... 277
Amount left after debt repayments....... 912.54
Personal Balance Sheet Summary
Total assets (things you own)........... 155,002
Total HP & Secured debt................. -84,730
Total Unsecured debt.................... -10,017
Net Assets.............................. 60,255
Created using the SOA calculator at www.stoozing.com.
Reproduced on Moneysavingexpert with permission, using other browser.You can have results or excuses, but not both.Challenge - be 14 Stone BY XMAS!
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Tax bill paid 25/1/18 - £1017.60You can have results or excuses, but not both.Challenge - be 14 Stone BY XMAS!
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So sorry you lost the old diary, and good luck with the new one.My mortgage free diary: https://forums.moneysavingexpert.com/discussion/6498069/whoops-here-comes-the-cheese0
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Fantastic for setting your stall out clearly and objectively over longer time frame.
HMRC are always best to put up as number 1, and well done for paying it off sop quickly !
Excellent for accruing monthly to pay of insurances annually, smart move.
Why both rent and mortgage on SOA?
I assume mob bill was pre cancelling the 3 contracts?
Good luck and excellent startDebt is a symptom, solve the problem.0 -
enjoyyourshoes wrote: »Fantastic for setting your stall out clearly and objectively over longer time frame.
HMRC are always best to put up as number 1, and well done for paying it off sop quickly !
Excellent for accruing monthly to pay of insurances annually, smart move.
Why both rent and mortgage on SOA?
I assume mob bill was pre cancelling the 3 contracts?
Good luck and excellent start
Thanks!
I work away from home so have to pay for accommodation as well as mortgage. I get an allowance for this which is included in my salary. It's a tiny 1 bedroom place 30 seconds from the beach in the Scottish Highlands!
Currently £70 for 2 mobiles and a tablet. Tablet (£10) expires in July. My mobile (£24) expires in October. Wife's mobile is December. I now have a company phone and my Wife will be going onto a sim only deal which she'll pay for herself.You can have results or excuses, but not both.Challenge - be 14 Stone BY XMAS!
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So glad you've done another I was wondering about the rent and mortgage on the soa too ? Good luck on being debt and mortgage free in 4 years 11 months lol.0
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Ah I only saw your reply after mine had posted. It sounds amazing actually being so close to a beach up there!0
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What's not clear from my SOA is that I have 2 credit cards.
One has a balance of £980 which will be paid in full this month. It has been cut up and will be cancelled.
The other is £4050 on interest free for 36 months as stated.You can have results or excuses, but not both.Challenge - be 14 Stone BY XMAS!
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