Newbie in need of help!

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  • Rach2186
    Rach2186 Posts: 14 Forumite
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    Thats what my mum said, I just worked so hard to build them up.

    I have added all the debts up..
    I owe less than I thought which is a bit of a relief. I guess now I need to go through my expenditure with a fine tooth comb and work out how much I can pay and when.
  • mangle101
    mangle101 Posts: 143 Forumite
    First Anniversary Combo Breaker
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    Does the father of your children contribute CSA?
    'Dont Bury Your Head In The Sand As Your Problems Will Still Exist'
    Debt Free Since 1st September 2009:j
  • Rach2186
    Rach2186 Posts: 14 Forumite
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    Nothing consistent. I may get a bit one month then nothing again for months.

    Unfortunately the kids savings are locked until they are 18 so back to plan B. In a way I am relieved, I didn't want to use that
  • a_silver_lining
    a_silver_lining Posts: 535 Forumite
    First Post First Anniversary Combo Breaker Debt-free and Proud!
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    Rach, as you can't access their ISA's why don't you use the sporadic money from their dad towards the debt? You provided well for them within your budget so that extra money could overpay the debts until it's cleared :)

    Well done looking at the debt totals, I remember doing the same years back and it was a relief to know the truth.
    19/12/14: Spent 10 years of savings!!
    :heart2: ..... to buy my first home. :heart2:
    11K OP 31.03.19

    Current goal: €151,000 deposit Ireland and counting, to buy Spring 2022 we hope!
  • Rach2186
    Rach2186 Posts: 14 Forumite
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    Thats exactly what I plan on doing. It doesn't feel quite so daunting now, I know exactly what I have coming in over the next 12 months and there will be no changes to income so I can plot all my payments. Im also shifting all my DDs to payday
  • Rach2186
    Rach2186 Posts: 14 Forumite
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    Got my electricity tariff down to £68pm including the arrears so thats an extra £30pm already!
  • EssexHebridean
    EssexHebridean Posts: 21,416 Forumite
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    Well done on the electricity - you mentioned storage heaters - now we have those as well - we're all electric aside from cooking which we got gas specifically for. For all our heating, lighting etc we're currently paying £30 a month although I am about to shove an extra £5 a month on there as we'll be through our accumulated credit this month I think.

    The thing with storage heaters is knowing how to use them - and keeping a VERY close eye on the weather so you know whether the settings need changing. Google your specific model of heaters or the closest you can find to them, and make sure you understand how the input and output settings work, basically if you're out all day then the output needs to be set to the lowest possible as that way you get more heat released later in the day. Also remember that with economy 7 electric it pays to use as much as possible overnight so things like washing machine etc should go on after the cheap rate kicks in. We keep a small oil filled rad to use to fill in the gaps where we've been caught out with the temperature dropping lower than forecast - it's also our heating source in the bedroom as it doesn't suit us to have heat on overnight in there. Feel free to ask any questions that might occur about E7/Storage heaters - having lived with them for the last 14 years I've pretty much got to grips with them I think!
    🎉 MORTGAGE FREE (First time!) 30/09/2016 🎉 And now we go again…New mortgage taken 01/09/23 🏡
    Balance as at 01/09/23 = £115,000.00
    Balance as at 31/12/23 = £112,000.00
    SOA CALCULATOR (for DFW newbies): SOA Calculator
    she/her
  • Rach2186
    Rach2186 Posts: 14 Forumite
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    Thank you, for the life of me I cannot get to grips with these storage heaters so will definitely take your advice!

    Update on the past few days..
    Switched energy, broadband, car insurance. Managed to cancel sky tv and used my clubcard vouchers to buy a now tv box so thats saved me about £50pm

    A friend was also kind enough to give me a few budget cookbooks, slashed my monthly bill from £300 to £100 with the clever use of my freezer, advanced planning and batch cooking.

    All "extras" such as spotify, netflix etc have been cancelled. Have started PPI claims with the template letters. Also HUGE thanks for pointing out the council tax..uni sent me an exemption form which I took straight to the council and I am indeed due a refund of around £400!!

    All in all I've managed to save around £300pm with some really simple changes - any sporadic maintenance payments aren't accounted for so will be a bonus and put straight on to debts.

    Had a chat with family and friends and we have all agreed on a gift free 2018 so no presents except my children. I use park vouchers for xmas so I wont need to worry about that either. I have also ordered a PAYG sim for when my contract ends.

    Feeling so positive, have started a debt folder to keep track of everything and plot payments etc to keep me motivated. Thanks for all advice :money:
  • tealady
    tealady Posts: 3,747 Forumite
    Name Dropper First Post First Anniversary Mortgage-free Glee!
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    Hi
    At the risk of sounding negative personally I would not use Park for Christmas.
    Instead couldyou use the money you are giving to themto openup a credit union account instead.
    A few reasons
    1) They pay interest (ok I know it is peanuts but as Mr T says "every little helps"
    2) You can get a loan if you save with them
    3) Credit union funds are covered by banking rules so if they go bust you will get your money (up to 75k I think)

    HTH
    Find out who you are and do that on purpose (thanks to Owain Wyn Jones quoting Dolly Parton)
  • consultant31
    consultant31 Posts: 4,814 Forumite
    First Anniversary First Post Combo Breaker
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    Rach2186 wrote: »
    Thank you, for the life of me I cannot get to grips with these storage heaters so will definitely take your advice!

    Update on the past few days..
    Switched energy, broadband, car insurance. Managed to cancel sky tv and used my clubcard vouchers to buy a now tv box so thats saved me about £50pm

    A friend was also kind enough to give me a few budget cookbooks, slashed my monthly bill from £300 to £100 with the clever use of my freezer, advanced planning and batch cooking.

    All "extras" such as spotify, netflix etc have been cancelled. Have started PPI claims with the template letters. Also HUGE thanks for pointing out the council tax..uni sent me an exemption form which I took straight to the council and I am indeed due a refund of around £400!!

    All in all I've managed to save around £300pm with some really simple changes - any sporadic maintenance payments aren't accounted for so will be a bonus and put straight on to debts.

    Had a chat with family and friends and we have all agreed on a gift free 2018 so no presents except my children. I use park vouchers for xmas so I wont need to worry about that either. I have also ordered a PAYG sim for when my contract ends.

    Feeling so positive, have started a debt folder to keep track of everything and plot payments etc to keep me motivated. Thanks for all advice :money:

    This is such an uplifting, positive post, I found myself smiling as I read it :)
    Go girl!
    I let my mind wander and it never came back!
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