huge mouse problem

ok, so the mouse in question is Mickey Mouse! I really want to go back to WDW but not able to book until all the current debt is paid off :(:(

I recently lost out on over £700 a month (used to get DLA for DS which wasn't re-awarded after initial 5 years, and a tax credit error meant that I no longer get those and have a hefty amount to repay.) since then I have realised that my wage is just about enough to get by. From reading others diaries I know I am actually so lucky but I still feel stressed with having no "spare" cash.

Im including my SOA in this post and open to feedback on it. its only my income and only my debt included. DH has his own income and his own debt which he is steaming through (he will pay off mine once he has done but for now Im working on it alone)

Any bills not mentioned, DH pays

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................ 975
Partners monthly income after tax....... 0
Benefits................................ 137.6
Other income............................ 191
Total monthly income.................... 1303.6


Monthly Expense Details

Mortgage................................ DH pays this
Secured/HP loan repayments.............. 0
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 191
Electricity............................. 45
Gas..................................... 23
Oil..................................... 0
Water rates............................. 37
Telephone (land line)................... DH pays this
Mobile phone............................ 11.5
TV Licence.............................. 12.54
Satellite/Cable TV...................... DH pays this
Internet Services....................... DH pays this
Groceries etc. ......................... 361
Clothing................................ 10
Petrol/diesel........................... 95
Road tax................................ 2.5
Car Insurance........................... 31.76
Car maintenance (including MOT)......... 16
Car parking............................. 1
Other travel............................ 44
Childcare/nursery....................... 0
Other child related expenses............ 76
Medical (prescriptions, dentist etc).... 9.2
Pet insurance/vet bills................. 0
Buildings insurance..................... DH pays this
Contents insurance...................... DH pays this
Life assurance ......................... 0
Other insurance......................... DH pays this (private health care through his job)
Presents (birthday, christmas etc)...... 36
Haircuts................................ 5.5
Entertainment........................... 78
Holiday................................. 0
Emergency fund.......................... 0
fat club................................ 21
tax credit pay back..................... 32 (over 10 years, don't class as debt)
Furniture on finance.................... 63 (not in hurry to pay this back dont class it as debt)
Total monthly expenses.................. 1202



Assets

Cash.................................... 0
House value (Gross)..................... 225000
Shares and bonds........................ 0
Car(s).................................. 5000
Other assets............................ 0
Total Assets............................ 230000


No Secured nor Hire Purchase Debts


Unsecured Debts
Description....................Debt......Monthly...APR
card 1.........................2359......55........16.9
card 2.........................1635......36........18.9
card 3.........................1460......25........0
catalogue......................925.......50........22.9
Total unsecured debts..........6379......166.......-



Monthly Budget Summary

Total monthly income.................... 1,303.6
Expenses (including HP & secured debts). 1,202
Available for debt repayments........... 101.6
Monthly UNsecured debt repayments....... 166
Amount short for making debt repayments. -64.4


Personal Balance Sheet Summary
Total assets (things you own)........... 230,000
Total HP & Secured debt................. -0
Total Unsecured debt.................... -6,379
Net Assets.............................. 223,621


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


this looks worse than it is because I always do have enough to pay the debt minimum payments, I think its because normally I'd put christmas on the credit card and I want to stop doing that. Also my Electricity bill has just gone up by £20 (included in SOA) but Im not used to that payment yet.

Ho Hum :o

7s
Preparing to go bankrupt April 2020
«13

Comments

  • Kitten868
    Kitten868 Posts: 1,785
    First Anniversary First Post
    Forumite
    Hello and welcome,

    You haven't included the dla debt on here and have you appealed? I think everyone gets rejected now and need to appeal.

    Good luck x
    Loan 1 £5200/£8000
    Loan 2 £300/£5800
    Total £5500/£13800
  • allthe7s
    allthe7s Posts: 187
    First Anniversary First Post
    Forumite
    Hi,

    It's not DLA overpaid it's tax credits which are included in my soa £32 a month.

    I asked them to look at it again and they still said no, I didn't go as far as appealing as we have no new evidence
    Preparing to go bankrupt April 2020
  • beanielou
    beanielou Posts: 89,820
    Academoney Grad I'm a Volunteer Ambassador Mortgage-free Glee! Name Dropper
    Ambassador
    Best to target the catalogur first as it has the highest APR.
    Good luck :)
    I am a Forum Ambassador and I support the Forum Team on Mortgage Free Wannabe & Local Money Saving Scotland & Disability Money Matters. If you need any help on those boards, do let me know.Please note that Ambassadors are not moderators. Any post you spot in breach of the Forum Rules should be reported via the report button , or by emailing forumteam@moneysavingexpert.com. All views are my own & not the official line of Money Saving Expert.

    Lou~ Debt free Wanabe No 55 DF 03/14.**Credit card debt free 30/06/10~** MFW. Finally mortgage free O2/ 2021****
    "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.
    ***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
    One debt remaining. Home improvement loan.
  • allthe7s
    allthe7s Posts: 187
    First Anniversary First Post
    Forumite
    I only have enough to pay the minimums so I can't target any above the others at the moment.

    I am also cross with myself for spending £40 on one of the cards last night, I've not used one for months. I've cut the card up now.
    Preparing to go bankrupt April 2020
  • allthe7s
    allthe7s Posts: 187
    First Anniversary First Post
    Forumite
    Walking ds2 to school this morning as it's a lovely morning. Hardly ever do this but I need to make more effort to leave the car at home.

    My lunch out plans cancelled so won't be spending on that, I will now go to family for lunch.

    Friend is popping in who owes me £4

    I need a new iron as I ruined my current one cleaning it, apparently I shouldn't have done that and the cleaning stuff has clogged it all and made it not non stick. I have vouchers left over from Christmas that I can cover the cost with though. Going to get the same brand as this one has lasted 10 years so can't complain

    Work later taking my tea with me so not buying food.

    Going to dig out some things to eBay at some point too.
    Preparing to go bankrupt April 2020
  • enthusiasticsaver
    enthusiasticsaver Posts: 15,447
    First Anniversary First Post Name Dropper I've been Money Tipped!
    Ambassador
    You need emergency savings too to cover things like the iron when you don't have vouchers to stop you spending on cards which you must now if you don't want this situation to get worse.

    Can you reduce groceries and entertainment by looking for free things to do? Do you meal plan and shop in Lidl's or Aldi or farm foods?

    Can you increase income by working more hours?

    Can you move any of that debt to 0%? If you only pay minimums it will never reduce because the interest will only just be covered so monthly reduction very small.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
  • allthe7s
    allthe7s Posts: 187
    First Anniversary First Post
    Forumite
    Our new house doesn't show up on many websites so I'm wary of applying for more credit at the moment in case I get declined. DH Barclaycard normally has a good 0% deal which I could transfer some to but typically doesn't at the moment.

    Shop at Aldi and Asda for groceries but have been popping into Tesco a bit too frequently lately. Trying to reduce the grocery spends to under £300 to give me a bit extra for paying off debts.

    I have rota'd myself in for an extra 3 shifts this month so that will boost me a bit too.

    DH best wages will be the coming 3/4 months so that will help.

    Going away with the kids in half term and have only allocated myself my child benefit (£137) it's only one night so should be manageable, train and hotel already booked so only food, entertainment and spends whilst there.
    We very rarely go away as if we have a holiday it's a big one and we've just spend a fortune moving house so this is a real treat and I'm really looking forward to it !!!55357;!!!56842;

    I know I need some emergency savings but DH would pay anything like that if it cropped up, and once both our debts are gone we are going to save at least a 1k pot up.
    Preparing to go bankrupt April 2020
  • allthe7s
    allthe7s Posts: 187
    First Anniversary First Post
    Forumite
    ok so I've applied for a 0% for 30 months barclaycard, it says it can take up to to 5 days to hear if I've been approved or not. Fingers crossed because that means that I can actually start making some headway.

    today has been an NSD

    can't sleep on a night for worrying about how long this debt is going to take to clear and how little spare money I have, I hate worrying about money :(
    Preparing to go bankrupt April 2020
  • allthe7s
    allthe7s Posts: 187
    First Anniversary First Post
    Forumite
    edited 23 May 2018 at 12:09PM
    not heard back about the Barclaycard yet. hopefully no news is good news!

    having tea out of the freezer tonight, normally DH won't eat leftovers :mad: but he's going to have to learn to love them, we waste so much food! boys having fast food is there isn't time to go home in between after school activities but I use a voucher off the back of a bus ticket.

    payslips have arrived in work go going to see how YNAB looks for the coming month.

    ETA: I'm trying to catch up on other peoples diaries, currently reading Eager Elephants, still in 2013 lol :rotfl:
    Preparing to go bankrupt April 2020
  • enthusiasticsaver
    enthusiasticsaver Posts: 15,447
    First Anniversary First Post Name Dropper I've been Money Tipped!
    Ambassador
    Hopefully you will get the 30 months Barclaycard 0% deal. That would help definitely depending on how much you get offered. Getting card 1 and 2 moved would allow you to focus on catalogue for now.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free Wannabe, Budgeting and Banking and Savings and Investment boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 342.5K Banking & Borrowing
  • 249.9K Reduce Debt & Boost Income
  • 449.4K Spending & Discounts
  • 234.6K Work, Benefits & Business
  • 607.1K Mortgages, Homes & Bills
  • 172.8K Life & Family
  • 247.4K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards