From Debts to Assets: Payday July 3rd Edition

Hey everyone, welcome back to the blog, and the #Debts2Assets series

In today’s blog we’re going to be going over every thing from payday

We’ll break down

• What I was paid?

• What my outgoings were

• Updated Debt Totals

• Big Update

We’ll be doing this each payday, & the following week we’ll be going over my credit report, with what has changed over the previous month, and what I’ll be doing to enhance my score, along with any ideas I have had around this

But, that’s enough delay, let’s get into the good stuff

What did I get paid this month?

Well, as expected it was the same wage as the previous 2 months due to being on furlough, however, this will be the last month that I’ll be expecting to receive this amount as I am now back to work on a Flexi-Furlough basis

This does mean that if I don’t get my average / contracted hours my pay is subsidised by the furlough scheme to 80% of my pay, but I am looking to do at least my contracted hours and where possible more in order to receive 100% of my pay

With that being said this month I was paid £919.34p, although lower than when I’m working i do find this has been a good figure during this time, especially as I have not been asked to work during the COVID pandemic

Let’s take a look at the breakdown for this month, what’s being paid out?

Payday Amount – £919.34

Let’s start off with the loans & debts we have paid this payday, and just go over everything

Firstly, Loan A, which was on a payment holiday has been extended a further 2 months, the company offering this loan gave me the option to do so, and whilst not 100% back to work I felt this was the best option to avoid over stretching my finances

Other than that, loans D, E, F which were all to family members have also been put on hold until back into work fully, this should be something that is paid again from my next payday at the end of this month,

So, what has been paid,

• Credit Card 1 – £15

• Credit Card 2 – £15

• Loan B – £10

• Loan C – £10

• Contingency – £50

That’s the debt payments, what about the additional outgoings,

• Rent – £150

• Phone O2 – £162.58

Now, my Tesco phone Bill I paid prior to payday as I had some spare money from a payment before the previous blogs, so it was just O2

On the O2 note, this months bill is exceptionally high, and that’s down to my stupidity really, and using it to pay for a few goods, something I will not be looking to do in the future

With regards to nursery, with my partner currently not working due to COVID we haven’t the need to put our daughter into nursery, so that’s currently not needed to be paid out

Finally, let’s take a look at what else has been paid out this month, and where it’s gone too

• Petrol – £40

• Birthday Presents – £38.48p

• Football Index – £150

• Klarna – £82.99p

The above to explain, Klarna was a buy now pay later for some Weights, with gyms closed over the COVID period and until further notice I needed to get some exercise in

Birthday presents and petrol are both self explanatory so we won’t go into detail there, and of course £150 to Football Index which we will go over later in the blog

With all that in mind, we’re looking at a total and left over amount of

Total to pay out – £724.05p

Total left – £195.29p

This will mainly go towards shopping over the month and some big news that I have later in the blog

Although we didn’t put much of a dent into it this month, our new overall debt amount is

Overall Debt Amount: £9779.26p

Only the £100 down on the previous month for the overall debt, though this was expected with the payments that I needed to make this month, along with the extra expenses etc

But not to worry, with being back to work fully now I know this number will soon start to come down nicely each month, so we don’t dwell

With being back to work now, these numbers should begin to drop further and further over the coming months, and I’ll be working hard to create as much income as I can to pay the debts off quicker

Let’s get into the Football Index portfolio, and see where we stand

Firstly, a quick shoutout to 2 products, and 2 ways you can support the blog,

If you love football, & love the idea of investing in footballers careers, giving you that extra excitement on match day, then get signed up to and use referral code 452568 for £10 free to spend on shares, plus trade up to £500 in the first 7 days and FI will refund any losses! A great way to get into the platform

Secondly, another football platform, this time in the form of a hybrid between Fantasy League, FI, & Fifa Ultimate Team

Footstock is the place to buy, trade, win, and sell players cards, whilst using those player cards in tournaments based on real life games, if you love FPL, use your football knowledge to build a team and win some huge prize pools, sign up at & get £10 tournament credit & 50 free bonus player cards to start your collection off

Now back to the blog, currently in Football Index I have got back up to £519 in my cash deposited into the platform, of course it’s only £519 once withdrawn, but I imagine I could sell everything now for close to that figure, below is a pic of my current players too, if anyone wants to see them

Now, I said previously I had some big news, and it’s news that will change the whole shape of this journey!

Me and my partner, have been offered a 2 bedroom property to rent, and we have accepted (pending viewing on 13th July)

Currently Me, my partner & our 11 month old daughter live at my parents mainly in one room, though we have just converted an old office into our daughters room, check out my Instagram if you want to see the results of that

However, it’s cramp, and living mainly in one room is hard work currently, so moving out and having space, with 2 beds & a garden seems perfect for us at this point

Once we have viewed the property I’ll be sure to post on my Instagram both the current and new situation for living

Of course this is going to stretch the finances to a new level, and as we move in I’ll be looking to update the blog more on my new outgoings, as well as the process of moving in, getting bills set up etc,

My goals have not changed at present, and I am trying to not allow that, this will however make the journey to buying a house and becoming debt free more challenging, but I’m well up for the challenge and will continue to push for the over all results

For now, I hope you have enjoyed today’s blog, we’ll be back tomorrow with a weight loss blog, in the meantime check out for my Instagram and all the sign up links you need from today

Have a great day, stay safe, and I’ll catch you in the next blog

Published by Drage162

Hi Everyone, I’m Jack, I’m 32 from the UK and welcome to my blog Follow my journey as I travel through different stages in life creating a better future for myself and my family Along the way you can take a look at my weight loss progress including how I’m achieving my goals, my weekly reviews & my future plans I’ll take you through my finances! The good, the bad & the ugly as I work to go from £9500 (as of Feb 2021) in debt with no assets to debt free and something to show for myself I have ups and I have downs, days I feel like I can achieve everything and days where I’m not motivated at all but I’ll document that and look to inspire you guys to achieve your goals too Let’s smash 2021 and make it the year we really take control of our lives and set the foundations for an amazing future ♥️

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