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    • PeppaCoin
    • By PeppaCoin 8th May 18, 8:20 PM
    • 121Posts
    • 134Thanks
    Newly single mum ... finding my feet
    • #1
    • 8th May 18, 8:20 PM
    Newly single mum ... finding my feet 8th May 18 at 8:20 PM
    Hello diary.

    I'm 32, separated and a mum to two wonderful little boys - a 5yr old and a 1yr old. In Jan 2018 I separated from my husband, whilst on maternity leave after he revealed an infidelity. There's more to it than that and certainly no going back to our old life, so I'm firmly set on looking towards our new future as a trio, whatever that may be. Awful husband is currently refusing to leave the house, and so pays 50% of the bills. I have only just returned to work following maternity leave so will receive my first proper salary at the end of the May. Much needed!

    Whilst I don't have a huge amount of debt, I do have some, and at the minute everything still feels a little blurry in terms of how I'll cope financially month to month. I work full time over 4 days, earning 29k. I have two days of childcare (schools clubs and childminder) and family help with the other 2 days.

    My SOA:

    Monthly Budget Summary Amount()
    Total monthly income 2,626.6
    Monthly expenses (incl. HP & secured loans) 2,092.31
    Available for debt repayments 534.29
    UNsecured debt repayments 55
    Amount left after debt repayments 479.29

    Personal Balance Sheet Summary Amount()
    Total Assets (things you own) 244,900
    Total Secured & HP Debt -143,000
    Total Unsecured Debt -4,717
    Net Assets 97,183

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

    Income, Expense, Debt & Asset Details
    Income Amount()
    Monthly income after tax 1689 (243 of childcare vouchers has already been sacrificed here)
    Partners monthly income 0
    Benefits 137.6 Child benefit
    Other income 800 (this is what the husband is giving me at the minute. 500 towards bills and 300 for the children)
    Total monthly income 2626.6

    Expenses Amount()
    Mortgage 579
    Secured/HP loan payments 0
    Rent 0
    Management charge (leasehold property) 0
    Council tax 159 will decrease when he eventually leaves the house
    Electricity 51
    Gas 51
    Oil 0
    Water Rates 33
    Telephone (land line) 10
    Mobile phone 38 need to wait for my contract to end
    TV Licence 12.37
    Satellite/Cable TV 40 will switch to netflix only when he leaves and takes virgin with him
    Internet services 15
    Groceries etc. 300 averaging 288 per month so far
    Clothing 50
    Petrol/diesel 150
    Road tax 12
    Car Insurance 17.54
    Car maintenance (including MOT) 0
    Car Parking 0
    Other travel 0
    Childcare/nursery 300 only just returned to work so not 100% sure on this yet. Should mostly be paid for by childcare vouchers
    Other child related expenses 100
    Medical (prescriptions, dentists, opticians etc.) 0
    Pet Insurance/Vet bills 4
    Buildings Insurance 4.59
    Contents Insurance 4
    Life Assurance 16.81
    Other Insurance 0
    Presents (birthday, christmas etc.) 50
    Haircuts 15
    Entertainment 80
    Holiday 0
    Emergency Fund 0
    Total monthly expenses 2092.31

    Secured & HP Debt Description Debt() Monthly() APR(%)
    Mortgage 143000 (579) 0
    Secured & HP Debt totals 143000 - -
    Unsecured Debt Description Debt() Monthly() APR(%)
    Virgin CreditCard 1940 25 0
    Sainsburys CreditCard 1327 30 0
    Loan from parents 1450 0 0
    Unsecured Debt totals 4717 55 -

    Asset Description Value ()
    Cash 2500
    House Value (Gross) 240000
    Shares and bonds 0
    Car(s) 2000
    Other assets (e.g. endowments, jewellery etc) 400
    Total Assets 244900

    Feel free to pull me apart if you can see anywhere I can make real savings
Page 1
    • pidge04
    • By pidge04 8th May 18, 9:31 PM
    • 582 Posts
    • 1,651 Thanks
    • #2
    • 8th May 18, 9:31 PM
    • #2
    • 8th May 18, 9:31 PM
    Hello and welcome!

    I wish you well!

    Can you transfer your credit card to a zero interest one? (I wish I could!)
    O/D 1000
    CC 3025
    LOAN 4416
    • pidge04
    • By pidge04 8th May 18, 9:34 PM
    • 582 Posts
    • 1,651 Thanks
    • #3
    • 8th May 18, 9:34 PM
    • #3
    • 8th May 18, 9:34 PM
    Is the 2500 cash yours? Could you hold a 1000 back for an emergency fund and pay 1500 from your highest APR credit card?

    Just a suggestion ... feel free to reject of course!
    O/D 1000
    CC 3025
    LOAN 4416
    • beanielou
    • By beanielou 9th May 18, 9:05 PM
    • 61,144 Posts
    • 260,296 Thanks
    • #4
    • 9th May 18, 9:05 PM
    • #4
    • 9th May 18, 9:05 PM
    Happy shiny new diary
    Wishing you well on your journey.
    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.***
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