Changing for good...a new start!

A question about : Changing for good...a new start!

Good morning world

I have had lots of diaries over my time here on MSE, but they just seem to taper off and I never seem to get anywhere so this needs to stop hence the title, a new start to change for good. I have a good mindset and am used to doing MSE things, I just need to hone these. I have been in debt far too long, I owe far to much money and have some stupidly unrealistic targets but if I could reach them then wow what a feeling that will be

So am going back to basics with this diary, going to list my SOA, incomings and general lifestyle to help me understand where I am going wrong and right in life.

Best answers:

• So my SOA (brief version)...
  Salary Ј1513 plus a few pennies each month. Unfortunately no opportunity to get overtime.
  Bills:-
  Ј788 Mortgage
  Ј114 council tax (single person discount)
  Ј35 electricity
  Ј18 gas (may be able to reduce this, just need to keep monitoring)
  Ј33 water (cant get meter as would need to change pipework as shared supply so at present not worth the cost)
  Ј53 tv, broadband, landline
  Ј12 tv licence
  Ј15 bank a/c charges (use for phone insurance, car breakdown, travel insurance etc)
  Ј80 fuel
  Ј33 mobile phone
  Ј182 hossie livery
  Ј90 hossie food/bedding
  Ј100 groceries
  Ј50 hossie trainer
  Ј1603 (you can see a trend here )
  Debts:-
  Ј390 - Sofa repayment on 0% interest - pay Ј30.15/month
  Ј5706 - Bcard CC - on 0% interest - pay approx Ј120/month
  Ј415 - Sains CC - on 18.9% interest - pay approx Ј10/month
  Total Ј6511
  Repayments Ј160/month (min payments)
  Total to pay out Ј1763/month
  I keep Ј50 spare each month for misc spending so total up to Ј1810 a month.
  I am aware I am about Ј300 a month short and at current my mum is subsidising me.
  I am also aware that I have no savings and no money each month put aside for things like insurance etc.
• My history - how I got here!
  I bought my current house with my ex, payments were afforded ok, he was (and still is) terrible with money, always had to buy the latest gadget/tool. I admit I didnt help but, through a period of bad luck ended up in debt. My ex and I split last year, he was living in the house up until June this year, where he has now moved out and is getting married to a new OH in Oct (dont ask lol!!).
  Since I have split with my ex I have also had a run of bad luck including vet bills, car problems and dental issues to name a few.
• Best of luck on your journey Baldy, determination to change for good is a great place to start
  x
• So my situation now....
  I have cut all my bills as much as I can, single person council tax, dropped down fuel bills etc so am living as cheaply as I can.
  I have a hossie, I would be extremely rich if I didnt have her, but she would be the last thing to go. She is 3, had her since she was 1 and she is a work in progress but generally a nice hossie
  I have an OH, he lives in Kent, neither of us are prepared to move, to be honest I am not 100% sure he is the one I want to be with, I have been honest with him about this, we have taken a step backwards, he knows I need to focus on other things first, we enjoy each others company and get on great, so just really waiting to see what happens.
  I have had some health issues which have blighted my life recently, all related I believe to my thyroid, I have finally seen a doctor last week who is taking me seriously so I need to get that sorted.
  My work is pretty solid, work in construction, seemed to have ridden out the recession and is about as secure as I can get at the moment.
  I live 15 min commute to work, my family all live in the same village as me as does my hossie, all within 5/10 mins of each other which is great
• My plans for the future (the scary bit)
  I want to keep my house, the location is ideal for family, hossie and work. I have put a lot of effort into it, have replaced all windows and doors, new rear garden fence, the garden front and back is getting there and finally presentable, have decorated one room (altho not finished) and is a good size (3 bed mid terrace) so I wont need to move for ages. There is still a lot of work to do in the house, all of the other rooms need stripping back to basics but this is a work in progress. I also have planning permission to build extension.
  The problem is I cant really afford this at the moment My ex still has his name on the mortgage, I want to cut the financial tie so I need to save up to buy him out.
  I cant save until I am debt free.
  So my goals....
  1. Pay of my Sains CC (I use this as general spending card as get nectar points, need to get to position to get to 0 and then just pay of in full each month as I use it).
  2. Pay of my Bcard CC - this is interest free for another 2 years so plenty of time.
  3. Pay of my Sofa - this is interest free and such a small payment its my last debt to pay.
  4. Get some savings behind me - things like insurance, emergencies etc - In an ideal world my savings targets are Ј5k over 5 accounts all broken down to various things.
  6. Buy ex out of the house...for this I need to get the mortgage down to Ј100k so I can take on myself. As of 23 July my mortgage was Ј150K. So already I have decreased this amount and continue to do so with payments each month. I also need to give ex approx Ј35K for his share of the house.
  7. I have planning permission for extension on my house which would give me loads of extra space and a decent, rather than pathetic, sized kitchen so need Ј40k at least for this!
  So with all of these targets I could be here for a while
• How am I going to manage....
  So I have a 3 bed house, I am looking at getting a lodger in, there is a possibility that my cousin may come in, just waiting to hear back. Obv my other bills will go back up like council tax so need to factor that into any rent payments.
  In the meantime my parents are happy and luckily are able to help me out short term with shortfall of bills.
  I already do MSE bits like surveys, quidco etc and ebay my life away. All of these things have been fairly profitable in the past so I just need to continue.
  I am queen of procastination when it comes to ebay, its sooo boring, but it does bring me in the pennies so I need to crack on. Current OH has recently unearthed a load of items to ebay, they are currently residing in my dining room, I am helping him and taking a cut of the profits so a win for me
• So to today....I have been paid, so new budget for the month set up.
  I have lots of food in my freezer but zero fresh bits, I am going to go shopping at lunchtime, I have a list and Ј22 cash in my purse, leftover from last month so not breaking into new budget yet) and hope to come well under.
• Ha Ha nope unfortunate username, my old pony, RIP, was called Baldrick (my avatar), Baldy for short hence the username Was funny when with my ex as he was follicly challenged so when out in the field yelling Baldy and OH with me used to get some funny looks
  Freckles thanks for the good wishes
  Ј16.23 spent on groceries so all topped up for next few weeks, hoping to come under my grocery budget this month.
• No probs NoOneAround didnt event think you were being rude, after 17 years of having a hoss called Baldy nothing phases me
  My new hossie is called phoenix but she went through a grumpy phase so I started calling her grumpy and it has stuck, she doesnt recognise her proper name, but call out grumpy and she raises an ear and ambles over
• Good morning
  Ex came round last night to pick up a few more bits. Had a brief discussion re the house and we disagreed re the value, got a bit wound up as he was being difficult and taking an unrealistic stance. It makes me even more determined to buy him out and be rid of completely. Went on a bit of a sorry for myself for hour or so whilst doing hossie, but read something about fear and it struck a chord with me so decided to be pro-active instead. The only way I can get out of this situation is with more money, so I sat down and listed 4 items on ebay, then got bored but did a few comps online, always worth a punt
  Looked this morning and 2 items have bids on already, only 99p so far, but listing for 7 days so may go up but it will all help. May see if I can do some more tonight
  NSD, dinner from the freezer later and lunch bought in.
  Have open fire at home, have loads of leftover wood so will be able to use for heating this year to help cut down bills. Need to get chimney swept before use, have booked for this weekend Ј48. That takes out my misc budget this month but at least I have the money without having to find elsewhere
• I admire your determination to keep your horse and as an ex horse owner I can totally understand why it is so important to you.
  That said, Ј300 is quite a shortfall each month, and your horse is costing you more than that each month covering the basics for her- are things like the farrier, horse insurance etc included? What is your contingency plan for any more unexpected vet bills?
  From the outside looking in, the obvious thing to do would be to sell/loan her until you are in a better position financially... but as I say, I DO understand why you won't consider it- she is your baby and a huge part of your life.
  Is she broken to ride now? If so, have you considered getting a sharer to help with costs and the work? Grass livery to keep costs down that way? Is the Ј50pm training absolutely essential at the moment?
  Sorry, probably not questions you want to hear, and they are meant kindly, but looking at your SOA, even once you have the debts paid off and don't have the minimum payments totalling Ј160pm you are still going to have a shortfall?
  Really hope you can find a way to make it all work, she (and you!) sound lovely. Fingers tightly crossed, *subscribing* x
• Hiya BB
  I have no advice that you don't already know. I know from my past experience how hard it is trying to find the extra pennies. I was lucky enough to be able to hang on to my horses through the debt busting.
  I do agree that perhaps letting the training go for now might be an idea - I am sure you can manage to continue what trainer has started over the winter and pick it back up again in the spring.
  Also think a lodger would be a great idea and company for you too if the right person?
  We get old pallets which OH chops up for wood for our log burner (along with other old wood people are chucking!) do you have a builders yard nearby that you could ask for any scraps?
  Goodluck with everything I know how much you want to hang on to your house. x
• Thinking about all the above apart from last month which was a write off I have not got any further into debt for ages, I have been good and made inroads, so I know I can do it I just need to keep going
• Good morning, thank goodness its friday, feels like its been a long week.
  Few more bids on ebay items so looking good, didnt manage to put anymore on there but will aim to do some at the weekend to take full advantage of the 20 free listings.
  Notified of small quidco payout so hope that should reach by Monday so first overpayment to CC since new mindset