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  • FIRST POST
    • efes shareholder
    • By efes shareholder 3rd May 18, 10:55 AM
    • 284Posts
    • 753Thanks
    efes shareholder
    taking responsibilty to get me where I want to be
    • #1
    • 3rd May 18, 10:55 AM
    taking responsibilty to get me where I want to be 3rd May 18 at 10:55 AM
    Good morning MSE'ers
    I have been reading diaries for the last few months and have found peoples stories so inspiring that I am hoping for some company on my own journey , this will be my own log which hopefully will motivate me at times of bleakness so I can look back on any progress I have made
    My sitituation is quite unique , My long term relationship broke down 7 years ago and i spent the next 6 renting on the private market and looking after my 3 kids on just the one income.
    This , ultimately led to lots of juggling , credit facilities being utilised and to be accountable for myself poor choices.
    I'm now hoping I can turn this round - my credit file is rated as poor however I a share of the property purchased as the family home ( my children now all over 18 reside there when they are not at uni) and one day this will be sold and i need to be in a position to reinvest this money and acquire a property of my own
    I recently received a part payment of the equity ( around 5%) and have used this to take responsibilty for my historic debts and settle the accounts on my file which show in default
    This was as follows
    899.52 - Argos store card
    1799 - M&S Credit card ( passed to Lowell)
    I also paid my overdraft off to the tune of 1500 and a 1000 from my credit card
    I have around 3554 remaining on my credit card ( which i have stopped using) and also 880 on Very ( approx 450 on 0%)

    I have placed around 5000 in to my esavers account and i would like to build this , I would like to tackle my remaining debts without dipping in to this as its my safety net should I ever need legal action to get my share of the house once the kids are more established

    Historically I have lived for the moment and as long as the cash machine continued to distribute then I would continue to withdraw , I've enjoyed trips away that I knew I couldn't afford but I looked upon life as when we leave , we are only taking our memories so it is best to make some whilst our health allows

    At the grand age of 45 , having spent my years from 18 parenting I want to start fulfilling my bucket list however I need to do this without over committing myself !!!

    This is my introduction , I will hopefully post an SOA at some point later today

    Thank you all for reading
    Last edited by efes shareholder; 03-05-2018 at 10:58 AM. Reason: ommited info
Page 1
    • efes shareholder
    • By efes shareholder 3rd May 18, 11:16 AM
    • 284 Posts
    • 753 Thanks
    efes shareholder
    • #2
    • 3rd May 18, 11:16 AM
    • #2
    • 3rd May 18, 11:16 AM
    Statement of Affairs and Personal Balance Sheet

    Household Information

    Number of adults in household........... 2
    Number of children in household......... 0
    Number of cars owned.................... 1

    Monthly Income Details

    Monthly income after tax................ 1688
    Partners monthly income after tax....... 0
    Benefits................................ 0
    Other income............................ 0
    Total monthly income.................... 1688


    Monthly Expense Details

    Mortgage................................ 0
    Secured/HP loan repayments.............. 0
    Rent.................................... 270
    Management charge (leasehold property).. 0
    Council tax............................. 40
    Electricity............................. 0
    Gas..................................... 0
    Oil..................................... 0
    Water rates............................. 0
    Telephone (land line)................... 0
    Mobile phone............................ 47
    TV Licence.............................. 0
    Satellite/Cable TV...................... 20
    Internet Services....................... 25
    Groceries etc. ......................... 70
    Clothing................................ 70
    Petrol/diesel........................... 200
    Road tax................................ 20
    Car Insurance........................... 45
    Car maintenance (including MOT)......... 40
    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..................... 0
    Contents insurance...................... 0
    Life assurance ......................... 0
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 50
    Haircuts................................ 0
    Entertainment........................... 200
    Holiday................................. 100
    Emergency fund.......................... 0
    Total monthly expenses.................. 1197



    Assets

    Cash.................................... 500
    House value (Gross)..................... 0
    Shares and bonds........................ 0
    Car(s).................................. 1500
    Other assets............................ 155000
    Total Assets............................ 157000


    No Secured nor Hire Purchase Debts


    Unsecured Debts
    Description....................Debt......Monthly.. .APR
    NATIONWIDE C/CARD..............3554......91........17.9
    VERY...........................880.......38....... .NaN
    ANGLIAN WATER..................392.......40........0
    Total unsecured debts..........4826......169.......-



    Monthly Budget Summary

    Total monthly income.................... 1,688
    Expenses (including HP & secured debts). 1,197
    Available for debt repayments........... 491
    Monthly UNsecured debt repayments....... 169
    Amount left after debt repayments....... 322


    Personal Balance Sheet Summary
    Total assets (things you own)........... 157,000
    Total HP & Secured debt................. -0
    Total Unsecured debt.................... -4,826
    Net Assets.............................. 152,174


    Created using the SOA calculator at www.stoozing.com.
    Reproduced on Moneysavingexpert with permission, using other browser.
    • UncannyScot
    • By UncannyScot 3rd May 18, 12:01 PM
    • 1,649 Posts
    • 8,959 Thanks
    UncannyScot
    • #3
    • 3rd May 18, 12:01 PM
    • #3
    • 3rd May 18, 12:01 PM
    Hi and welcome

    Hope you find the company and support you need here, I know I have

    If you need any info or advice just post up and folks will help out.

    Looking forward to following you and supporting you on your journey
    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.
    • efes shareholder
    • By efes shareholder 3rd May 18, 12:46 PM
    • 284 Posts
    • 753 Thanks
    efes shareholder
    • #4
    • 3rd May 18, 12:46 PM
    • #4
    • 3rd May 18, 12:46 PM
    I hope so

    On paper I should have a fair amount of disposable income as I have moved back to my parents and as such am kept and fed for my rent, council tax and Virgin payments

    I seem to over commit though and have 4 intended trips away this year which I dont know how i would have financed had i not had a small share of equity paid

    I do love to travel though and I do love to have something to look forward too .............I often wonder if I a bit bi-polar or at least touched with a bit of depression which runs in the family

    It's a matter of finding the balance I think.

    I don't owe a huge amount however it would be nice to not have the payments to make every month and to be able to invest rather then repay
    • UncannyScot
    • By UncannyScot 3rd May 18, 1:31 PM
    • 1,649 Posts
    • 8,959 Thanks
    UncannyScot
    • #5
    • 3rd May 18, 1:31 PM
    • #5
    • 3rd May 18, 1:31 PM
    I hope so

    On paper I should have a fair amount of disposable income as I have moved back to my parents and as such am kept and fed for my rent, council tax and Virgin payments

    I seem to over commit though and have 4 intended trips away this year which I dont know how i would have financed had i not had a small share of equity paid

    I do love to travel though and I do love to have something to look forward too .............I often wonder if I a bit bi-polar or at least touched with a bit of depression which runs in the family

    It's a matter of finding the balance I think.

    I don't owe a huge amount however it would be nice to not have the payments to make every month and to be able to invest rather then repay
    Originally posted by efes shareholder
    I believe that is just it... balance

    Have you seen Martin's Money Mantra?

    Basically if you answer NO to the following then DO NOT SPEND/BUY

    IF YOU ARE SKINT
    ask yourself;
    Do I need it?
    Can I afford it?

    IF YOU ARE NOT SKINT
    ask yourself;
    Will I use it?
    Is it worth it?

    I've been using this simple wee mantra to help keep tabs on spending (so far it's worked too )
    I also believe there is a link between depression and spending / debt...
    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.
    • efes shareholder
    • By efes shareholder 3rd May 18, 2:11 PM
    • 284 Posts
    • 753 Thanks
    efes shareholder
    • #6
    • 3rd May 18, 2:11 PM
    • #6
    • 3rd May 18, 2:11 PM
    it's funny i used to say to my daughter " theres a difference between want and need "

    my first step this month is to pay my car insurance up front , I can get this for 280 per year as opposed to 41.25 a month in doing so and that 40 odd then go towards making additional payments to my credit card

    I do have a small emergancy fund now and i am thinking that it may be better put to the VERY account since a portion of that is at 39.9% apr
    • beanielou
    • By beanielou 3rd May 18, 4:49 PM
    • 56,796 Posts
    • 231,118 Thanks
    beanielou
    • #7
    • 3rd May 18, 4:49 PM
    • #7
    • 3rd May 18, 4:49 PM
    Happy shiny new diary
    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. MFW 2018. No 144
    • efes shareholder
    • By efes shareholder 4th May 18, 7:55 AM
    • 284 Posts
    • 753 Thanks
    efes shareholder
    • #8
    • 4th May 18, 7:55 AM
    • #8
    • 4th May 18, 7:55 AM
    So today I am off to a "adults" music weekend , its great fun and i've been every year for the past 5 and made many new friends and assoicates
    Fortunately it doesn't work out very expensive as we stay in caravans at the event and take most of our food and drink with us
    It is the anticipated event on my calender and always results in great memories and more friendships
    I am car sharing so fuel costs are halved , 30 worth of alcohol in the boot along with a few provisions to get me through the weekend and ensure that I don't starve.
    I have 40.00 in my purse and will NOT be spending anymore than that which should see me through to the end on monday
    • efes shareholder
    • By efes shareholder 8th May 18, 8:43 AM
    • 284 Posts
    • 753 Thanks
    efes shareholder
    • #9
    • 8th May 18, 8:43 AM
    • #9
    • 8th May 18, 8:43 AM
    So today I am back at work after a fantastic weekend at the longest running soul weekend - had a great time
    Kept my spends down , however did use my card for a pub lunch with family who are in the area

    my legs feel like bricks and I ache all over however it was worth it

    This morning i have moved money from my savings to clear my very account of everything with the exception of the items on interest free.
    I do like to have the savings there however 39.9% APR is enough to set my mind that i need to clear that balance ASAP and not myself over the next few months
    • efes shareholder
    • By efes shareholder 9th May 18, 9:21 AM
    • 284 Posts
    • 753 Thanks
    efes shareholder
    So yesterday my only spend was a 6.00 trip to the sunbed shop
    I do this because it really really helps my eczema , it must be 5 months since i last had one , it gives my skin a lovely base coat for a tan over the summer however having been at the coast all weekend , I burnt like a Tomato so with Summer now on its way I will take this up again - just 10 minutes once a week makes the world of difference to my skin.

    In other news I have returned from my weekender with bites on my bum !! I am not happy , they are causing some discomfort !! I am assuming they are Gnats bites from the hot weather - but i'm also keeping my fingers crossed the caravan didnt have BED BUGS !!

    I have PMT and I am in a really "unpleaseable" mood - I hate that frustrated feeling where you don't know why you are feeling like you do and that frustrates you even more

    I drove in to work hoping the needle doesnt go red as i am hoping to stretch the tank out another day or so , I WANT a NSD !!
    • efes shareholder
    • By efes shareholder 9th May 18, 2:58 PM
    • 284 Posts
    • 753 Thanks
    efes shareholder
    So I have just spoken to my car insurance company as this year I will be paying upfront and my renewal is due
    I have been with the same company for 5 years however I have called them and my prem has increased , I can get it over 100 cheaper and get 45.00 quidco cashback by changing insurer
    My current insurer will only match their own quote online which is still 60 more then what they have sent me , I do have key cover ( I learnt a very expensive lesson many years ago) and the new provider quote does not appear to have included this however I am sure the difference still makes it much more beneficial to switch
    I don't like switching , I do always phone around anyway but my current supplier does not seem to want to be competitive this time
    • FTBNow
    • By FTBNow 9th May 18, 3:08 PM
    • 115 Posts
    • 77 Thanks
    FTBNow
    I believe that is just it... balance

    Have you seen Martin's Money Mantra?

    Basically if you answer NO to the following then DO NOT SPEND/BUY

    IF YOU ARE SKINT
    ask yourself;
    Do I need it?
    Can I afford it?

    IF YOU ARE NOT SKINT
    ask yourself;
    Will I use it?
    Is it worth it?

    I've been using this simple wee mantra to help keep tabs on spending (so far it's worked too )
    I also believe there is a link between depression and spending / debt...
    Originally posted by UncannyScot
    There is definitely a link between depression and spending: I found that receiving parcels from Amazon, Boohoo and wherever else really cheered up my mood but then it would be gone within hours. I'm also a glutton for punishment with unnecessary spends at places like B&M and the Aldi middle aisle! It was definitely my depression that plunged me into debt, and I would prioritise a new t-shirt over petrol and all sorts.

    Happy shiny new diary efes shareholder. Looking forward to reading!
    • efes shareholder
    • By efes shareholder 9th May 18, 3:22 PM
    • 284 Posts
    • 753 Thanks
    efes shareholder
    Thank you FTB now

    I think there is a link , its an addiction I guess , you chase what makes you feel good.
    I have never been a shopoholic or had top brands etc however I would like to see events on the calender and if I saw a great holiday deal it would be hard to stop myself making it happen

    I am a great believer that we only leave this life with memories so we should live a life to remember however spending time with people etc does not have to cost money - I HAVE TO TEACH MYSELF THIS
    • efes shareholder
    • By efes shareholder 10th May 18, 11:37 AM
    • 284 Posts
    • 753 Thanks
    efes shareholder
    Today I have had to top the car up with petrol - I was hoping I would last out until the end of the week but sadly no !
    I have worked out that this is one of my biggest costs however I don't seem to be able to get away with less then 40 a week , I can drive efficiently but the stop / start of my commute is not sympathetic to this
    It would be nice to car share however no one in my area does the same hours as me.
    I have also decided having scrutinised my bank statements that the smoking needs to go ! I gave up for 12 years and the worse thing i ever did was think I could have a couple to see me through a hard patch and not become addicted again
    I have tried and failed over the last few years , however never manage more then a few weeks
    Its more difficult now as my mum is a chain smoker in the house so where you try to avoid the smells and not put yourself in the path of temptation , it makes it even more difficult
    I'd welcome any suggestions x
    • efes shareholder
    • By efes shareholder 11th May 18, 10:20 AM
    • 284 Posts
    • 753 Thanks
    efes shareholder
    So today work is slow so I am popping my head in here and catching up on the diaries
    unexpected expense later of a car clean - I parked under a tree in the sun and it rained overnight , My passenger side is now covered in a sticky residue , Like i have driven through a puddle of lemonade
    I was anticipating a car wash soon , There is no facility for me to do this at home however the local roll in roll out is very good value and do a much better job than I can.

    I don't feel great , Ladies problems and a bit of a congested headache ( I tend to suffer with these ) so I am currently cheering myself up by researching the holiday destinations on my bucket list to visit before I hit 50 !
  • archived user
    my first step this month is to pay my car insurance up front , I can get this for 280 per year as opposed to 41.25 a month in doing so and that 40 odd then go towards making additional payments to my credit card
    Originally posted by efes shareholder
    Hiya and welcome. Just wanted to say - great idea, but don't forget to save up for next year's payment in full - otherwise you will be no better off in the long run....if you put aside 25 a month for future annual payment, then that will leave you a balance of 15 or so to put against the debt.

    I do have a small emergency fund now and i am thinking that it may be better put to the VERY account since a portion of that is at 39.9% apr
    Originally posted by efes shareholder
    It's definitely worth working out how much interest you are being charged to decide the best approach - did you say you have 5K in an esavers account? It may make more sense to pay off the high apr debts, and then set a repayment into your esaver - as you will save in interest.
    • efes shareholder
    • By efes shareholder 11th May 18, 12:30 PM
    • 284 Posts
    • 753 Thanks
    efes shareholder
    Yes I am waiting for my account details to move the 5k in to prem bonds but i did this week pay the items on the very acccount which were at 39.9% as it makes sense

    The plan is continue to put 100 a month in to bonds and the also keep a floating find in esavers - I am not sure if this will be acheivable until maybe August however as I have a very hetic summer commitments

    I hate to think how i would have financed those without the small windfall
  • archived user
    I've been no different in my "shameful" past - the main thing is we are here now and are trying to be better!!

    Great that you have paid off the Very - must be VERY satisfying!
    • efes shareholder
    • By efes shareholder 11th May 18, 12:46 PM
    • 284 Posts
    • 753 Thanks
    efes shareholder
    im undecided on the insurance - I want to get rid of my direct debits however I am on holiday in June and its going to be a tight month just as the renewal on the insurance is due
    Hastings Direct will give me a great price and its an extra 20.00 if I spread it which would help particulary this month however it does contradict what i am trying to achieve
    • efes shareholder
    • By efes shareholder 11th May 18, 12:54 PM
    • 284 Posts
    • 753 Thanks
    efes shareholder
    I've been no different in my "shameful" past - the main thing is we are here now and are trying to be better!!

    Great that you have paid off the Very - must be VERY satisfying!
    Originally posted by ramblehan
    VERY !

    I have a small balance of items on BNPL which I can cover monthly before the 0% expires in December

    Its false economy to use it for anything else even though they do do some good sale offers
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