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  • FIRST POST
    • indigowarrior
    • By indigowarrior 5th Jul 18, 12:18 AM
    • 655Posts
    • 4,834Thanks
    indigowarrior
    Indigowarrior's journey to financial peace
    • #1
    • 5th Jul 18, 12:18 AM
    Indigowarrior's journey to financial peace 5th Jul 18 at 12:18 AM
    I have chosen a new diary as I am in a new part of my life. I currently owe 10K to different creditors and I want to start dealing with them one step at time. I also need to start saving for when I leave supported accommodation.

    I dont work at the moment due to physical health problems and serious mental health problems. It makes budgetting and life very difficult.

    My debts as current are:
    Tesco-120
    Nat West 103.00
    BPO 123.49 (Payment Plan of 20 per month)
    Tesco Mobile 176.71
    Tesco Mobile 211.94
    Three 224.88
    Council Tax 450 (Payment Plan of 50 per month)
    Vodafone 244.95
    Tesco Mobile 282.50
    Vanquis 300.00
    EE 318.00
    Orange 402.37
    O2 404.00
    Talk Talk 448.00
    Virgin 510.00
    02 646.25
    Simply Be 850
    TalkTalk 837.95
    BT 1100 (Payment plan of 25)
    Lloyds 1780
    Total; 9358

    However before I begin attacking the debt and getting the EF together I need to start just paying the minimums and saving for four walls.
    I am hoping to stay at supported accommodation until November the earliest. Which will give me 5 months to get sorted. Thankfully my living costs are very low.

    Living Costs
    Rent: 100
    Food: 150
    Transport: 20
    Eating Out: 20
    Tesco Mobile: 30
    Entertainment: 10
    Cashplus: 5.95
    Total: 317

    It leaves me quite a bit a money each month really
    Hopefully I can stay well and start doing this. I just need to believe it.
    Last edited by indigowarrior; 06-07-2018 at 2:39 PM.
    #545- SPC July No Spend: 5/20
Page 1
    • GlendaSugarbean
    • By GlendaSugarbean 5th Jul 18, 6:58 AM
    • 57 Posts
    • 393 Thanks
    GlendaSugarbean
    • #2
    • 5th Jul 18, 6:58 AM
    • #2
    • 5th Jul 18, 6:58 AM
    Best of luck! How are you structuring your days at the moment? Anything you can add to keep yourself on track?
    • Toni'sfriend
    • By Toni'sfriend 5th Jul 18, 8:50 AM
    • 1,397 Posts
    • 13,319 Thanks
    Toni'sfriend
    • #3
    • 5th Jul 18, 8:50 AM
    • #3
    • 5th Jul 18, 8:50 AM
    Just popping in to say hello. Indigo. I'm sure there will be lots of people here who will be able to give you tips and show you the best way to go about tackling this.
    Last edited by Toni'sfriend; 05-07-2018 at 8:50 AM. Reason: mistake
    • enthusiasticsaver
    • By enthusiasticsaver 5th Jul 18, 8:52 AM
    • 6,684 Posts
    • 14,181 Thanks
    enthusiasticsaver
    • #4
    • 5th Jul 18, 8:52 AM
    • #4
    • 5th Jul 18, 8:52 AM
    What is cashplus? Do you not have to pay towards gas electric or water in supported accommodation?

    As you say those outgoings are low. How much income do you receive? I would suggest you save something into emergency savings as well as towards your debts.

    Do any of the debts charge interest? That will help you decide what to tackle first. There are a lot of phone company debts there. Are these defaulted contracts? Have you developed a strategy now for not running up large phone billsor are you now on PAYG?
    Debt free and mortgage free and early retiree. Living the dream

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages and Endowments, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • indigowarrior
    • By indigowarrior 5th Jul 18, 8:55 AM
    • 655 Posts
    • 4,834 Thanks
    indigowarrior
    • #5
    • 5th Jul 18, 8:55 AM
    • #5
    • 5th Jul 18, 8:55 AM
    Thank you to you both. Welcome I have 15 days till the next payday and about 58 in my purse. I do have a fully stocked cupboard and semi stocked freezer. So need to tighten my belt. Also ramp up the No Spend Days as well.

    Glendasugarbean My days depend on how unwell I am and what has happened. I hate committing to much as its unpredictable with how I will be.
    #545- SPC July No Spend: 5/20
    • indigowarrior
    • By indigowarrior 5th Jul 18, 9:01 AM
    • 655 Posts
    • 4,834 Thanks
    indigowarrior
    • #6
    • 5th Jul 18, 9:01 AM
    • #6
    • 5th Jul 18, 9:01 AM
    What is cashplus? Do you not have to pay towards gas electric or water in supported accommodation?

    As you say those outgoings are low. How much income do you receive? I would suggest you save something into emergency savings as well as towards your debts.

    Do any of the debts charge interest? That will help you decide what to tackle first. There are a lot of phone company debts there. Are these defaulted contracts? Have you developed a strategy now for not running up large phone billsor are you now on PAYG?
    Originally posted by enthusiasticsaver
    Entusiasticsaver welcome. Cashplus is my creditbuilder. I pay 6 a month to "improve" my credit score. It has gone up twice since I started. The 100 a month service charge covers all rent. All my debts are mainly defaulted contracts. I have now capped my bill with Tesco and it generally doesnt go over 30. Unfortunately I cant find a pay as you go tariff to suit my needs. As I use a lot of internet.

    I only have one debt that is climbing and that is simplybe. I am going to work on clear that off.

    I am embarrassed to say how much benefit I get as I am worried I will get judged.
    #545- SPC July No Spend: 5/20
    • Toni'sfriend
    • By Toni'sfriend 5th Jul 18, 9:15 AM
    • 1,397 Posts
    • 13,319 Thanks
    Toni'sfriend
    • #7
    • 5th Jul 18, 9:15 AM
    • #7
    • 5th Jul 18, 9:15 AM
    I am embarrassed to say how much benefit I get as I am worried I will get judged.
    No one will judge you here. We are all here to help in any way we can and if you were not entitled to the benefit you would not be getting it. It is fine if you don't want to say but it might help with advising how to sort your debts out.
    • indigowarrior
    • By indigowarrior 5th Jul 18, 9:23 AM
    • 655 Posts
    • 4,834 Thanks
    indigowarrior
    • #8
    • 5th Jul 18, 9:23 AM
    • #8
    • 5th Jul 18, 9:23 AM
    No one will judge you here. We are all here to help in any way we can and if you were not entitled to the benefit you would not be getting it. It is fine if you don't want to say but it might help with advising how to sort your debts out.
    Originally posted by Toni'sfriend
    Thank you Toni
    I get 621 UC (I get the LCWRA element and not able to work at the moment) and 433 PIP. I have been tested over this and they were confident I was eligible for it but I struggle due to peoples opinion on benefits.
    #545- SPC July No Spend: 5/20
    • Toni'sfriend
    • By Toni'sfriend 5th Jul 18, 9:35 AM
    • 1,397 Posts
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    Toni'sfriend
    • #9
    • 5th Jul 18, 9:35 AM
    • #9
    • 5th Jul 18, 9:35 AM
    I struggle due to peoples opinion on benefits.
    Their opinions don't matter so try not to worry about what other people think.
    I'm not an expert so I won't suggest how you should tackle this but there are a lot of people here who will give you very good advice. I'm sure this can and will be fixed.
    • GlendaSugarbean
    • By GlendaSugarbean 5th Jul 18, 10:25 AM
    • 57 Posts
    • 393 Thanks
    GlendaSugarbean
    Sod what people think! I'm pleased you are getting the support you need.
    • indigowarrior
    • By indigowarrior 5th Jul 18, 2:44 PM
    • 655 Posts
    • 4,834 Thanks
    indigowarrior
    Thank you lovely ladies.
    Meet up with my friend who kindly paid for coffee and chips. I have calculated I have 3 a day to last me. So I have put the 3 saved today in my savings. I meet up with the social worker and handed over pictures for the girls life story work which was very difficult. Rest of the day is chilling and relaxing.
    #545- SPC July No Spend: 5/20
    • Toni'sfriend
    • By Toni'sfriend 5th Jul 18, 3:05 PM
    • 1,397 Posts
    • 13,319 Thanks
    Toni'sfriend
    You're having a very difficult time right now but you're trying to sort things out and it will get better. I'm reading your diary and am here with support and encouragement (as are many others) if you need it.
    Last edited by Toni'sfriend; 05-07-2018 at 3:27 PM. Reason: mistake
    • GlendaSugarbean
    • By GlendaSugarbean 5th Jul 18, 3:35 PM
    • 57 Posts
    • 393 Thanks
    GlendaSugarbean
    Sounds like a tough day. Except for the chips. Chips are good and free chips are better
    • enthusiasticsaver
    • By enthusiasticsaver 5th Jul 18, 11:11 PM
    • 6,684 Posts
    • 14,181 Thanks
    enthusiasticsaver
    Entusiasticsaver welcome. Cashplus is my creditbuilder. I pay 6 a month to "improve" my credit score. It has gone up twice since I started. The 100 a month service charge covers all rent. All my debts are mainly defaulted contracts. I have now capped my bill with Tesco and it generally doesnt go over 30. Unfortunately I cant find a pay as you go tariff to suit my needs. As I use a lot of internet.

    I only have one debt that is climbing and that is simplybe. I am going to work on clear that off.

    I am embarrassed to say how much benefit I get as I am worried I will get judged.
    Originally posted by indigowarrior
    Your credit score means nothing so there is little point in paying a fee for this Cashplus card. What matters is your credit history and as you have a lot of defaults that will be shot at the moment. You have a fair amount of disposable income for now so I would concentrate on paying as much of the debt off as you can and saving for emergencies. Are you restricted to just living in supported accommodation until November?

    If the simply be debt is climbing because of interest and they wont freeze the interest I would suggest you target that one first. The council tax one is important too.
    Debt free and mortgage free and early retiree. Living the dream

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages and Endowments, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • indigowarrior
    • By indigowarrior 6th Jul 18, 8:18 AM
    • 655 Posts
    • 4,834 Thanks
    indigowarrior
    Are you restricted to just living in supported accommodation until November?
    Originally posted by enthusiasticsaver
    There is a maximum of six to nine months here. I cant cancel the cashplus agreement now until next year. I will be tackling Simply Be and The council tax one. I have a payment arrangement with the council tax one but I will try to clear it off asap.
    Last edited by indigowarrior; 06-07-2018 at 8:33 AM.
    #545- SPC July No Spend: 5/20
    • indigowarrior
    • By indigowarrior 6th Jul 18, 8:30 AM
    • 655 Posts
    • 4,834 Thanks
    indigowarrior
    Well I am up bright and and early. I went to bed at about 9pm last night. Emotions all over the place so decided not to let social media depress me even further I switched off my phone and went to bed.

    I am going to raid the cupboards and freezer for food and start rationing what soda I have left or its going to be impossible to live on 3 a day. There is a reading group at the library I may attend today just to get out of the house and socialise. They do have a group running at the supported accommodation but its fish and chip night and I don't really want to spend any money today.
    #545- SPC July No Spend: 5/20
    • Toni'sfriend
    • By Toni'sfriend 6th Jul 18, 9:24 AM
    • 1,397 Posts
    • 13,319 Thanks
    Toni'sfriend
    I have a payment arrangement with the council tax
    This might seem like a stupid question but do you have an arrangement with all the others to pay off the debts? Do you know how much of your income is going on these repayments?
    The reading group sounds like a good idea. xx
    • lindens
    • By lindens 6th Jul 18, 10:47 AM
    • 2,052 Posts
    • 6,947 Thanks
    lindens
    T

    Glendasugarbean My days depend on how unwell I am and what has happened. I hate committing to much as its unpredictable with how I will be.
    Originally posted by indigowarrior
    I love your username
    with regards to the above - think about it as "how WELL i am" and look at it positively maybe?
    Targets are good even if you carry them over. Start with one a day or one a week
    You're not your * could have not of * Debt not dept *
    • enthusiasticsaver
    • By enthusiasticsaver 6th Jul 18, 12:00 PM
    • 6,684 Posts
    • 14,181 Thanks
    enthusiasticsaver
    The library and reading group sounds good. Well done on resisting the fish and chips and cutting back on soda. Good for the purse and your health.

    I would agree that you have a good opportunity here to save and see if you can make arrangements to clear some of those debts. Start by speaking to Tesco mobile and O2 as 5 of the debts are with them. Do you ever get offered full and final payments where you clear the debts by paying a percentage of it in one hit? If so it might be worth you making token payments to them all of say 1 each and saving as much as possible then offering say 50% to all of your main creditors.
    Debt free and mortgage free and early retiree. Living the dream

    I'm a Board Guide on the Debt-Free Wannabe, Mortgages and Endowments, Banking and Budgeting boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Any views are mine and not the official line of moneysavingexpert.com. Pease remember, board guides don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com
    • Toni'sfriend
    • By Toni'sfriend 6th Jul 18, 1:30 PM
    • 1,397 Posts
    • 13,319 Thanks
    Toni'sfriend
    I was thinking something similar. It seems that there is a bit of disposable income but maybe that's all going on the debt repayments and it might be better to make some sort of arrangement or plan to clear them. I'm not an expert but it's just a thought.
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