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  • FIRST POST
    • HopefulHumphrey
    • By HopefulHumphrey 29th Aug 17, 1:51 PM
    • 12Posts
    • 13Thanks
    HopefulHumphrey
    Debt free in 3 years...? here's hoping for me and my boy
    • #1
    • 29th Aug 17, 1:51 PM
    Debt free in 3 years...? here's hoping for me and my boy 29th Aug 17 at 1:51 PM
    Hello
    Right, so last month I decided I needed to get my debt in order. I am a single, working mum with a son (10 months old) and my debt is currently crippling me.
    After much pondering over an IVA I decided to go it alone as I did not want to cloud of an IVA hanging over me when I could have potentially paid off the debt and I also resent paying another lender extortionate fees when I am already paying lenders extortionate fees by way of interest.

    So here is my debt situation:

    Pay Day Loans: 1250
    Credit Cards: 5250
    Hire Purchase: 8300 remaining
    Catalogs:1500
    local council: £800 benefit over-payment - I am disputing this
    Mum: who knows

    These are rough figures as I am writing this without my finance sheet in front of me, but I know to the nearest 100.

    Much of my debt was amassed whilst pregnant and on maternity leave. I don't want to get the violins out, but whilst pregnant my partner left me in a privately rented flat, of which I was then made homeless as I couldn't keep up with the rent on my own and the landlord was unwilling to accept me with a top up from Housing Benefit. I then found a home via intermediate rent, which was unfurnished for me and my then 6 month old. As I was on maternity pay my mum paid the first few months rent for me whilst waiting for housing benefit. But I furnished the flat via credit.

    My mum has been an absolute superstar, but is a low earner and has helped me out by using most of a redundancy payment that she received. Knowing this makes me feel sick to my stomach and I will pay her back!

    So what have I done to help myself so far...?

    1. Got all my debts together in one place so I know whats what
    2. Returned to work earlier than planned and upped my hours (was only meant to return part time)
    3. Contacted all of my creditors and asked for a temporary stay of execution and agreed manageable repayments to be reviewed
    4. Made an agreement to myself that as soon as I was able I would get rid of my HP car (February 2018)

    The 3 year goal is to give me some gravitas to hold onto. Some quantative goal to measure myself and hold myself accountable to. I also see it as realistic. I am a good earner. My salary is decent. This debt was amassed during a hard time (OK, some of it was amassed partying and living it up in a life gone by).

    Today is my first day of repaying my debts under the new agreements. It is a low pay month for me as I had to return for 2 months at 3 days a week before my employer would increase my hours. This means that as well as a low pay month, as I work in arrears, I will have to pay the additional days childcare out of my salary before my increased working tax credits kick in. Which is going to be a killer.

    However, I am hoping that the new lunch box my mum got me will come into use and doing some batch cooking to avoid pit stops in Asda on the way home will help. There is very little else I can do to cut back this month, so hopefully that will be enough.

    Any other suggestions as to how to survive the month are welcomed!

    Signing Out
Page 1
    • bexster1975
    • By bexster1975 29th Aug 17, 2:14 PM
    • 1,033 Posts
    • 4,801 Thanks
    bexster1975
    • #2
    • 29th Aug 17, 2:14 PM
    • #2
    • 29th Aug 17, 2:14 PM
    Hello

    Welcome to the board!

    I would suggest a statement of affairs (SOA). I will post a link at the bottom. It will allow you to see what us what, including the interest rates on your debts.

    I think a time limit as a goal is a great idea. Your boy Wong gave even started school by the time you are debt free!


    http://www.stoozing.com/calculator/soa.php
    Bexster
    • zippygeorgeandben
    • By zippygeorgeandben 29th Aug 17, 6:43 PM
    • 667 Posts
    • 773 Thanks
    zippygeorgeandben
    • #3
    • 29th Aug 17, 6:43 PM
    • #3
    • 29th Aug 17, 6:43 PM
    Yes - do an SOA. You sound different to other posters looking for a way out. You're taking responsibility despite having to deal with x, y, and z
    End Sep 2016 End August 2017
    £8236.57 £4876.49
    (Tesco 4.8%) £222.61pcm
    £6185.75 £851.34 (Zopa 4.0%) £48.99pcm

    £5344.50
    £2890.04 (Sainsburys 0% until 06/19) £140pcm
    £2000.00 £1333.35 (Sister 0%) £133.33pcm

    Total debt
    £19.766.82 £11499.70 Original DFD May 2019.
    • Tempus01
    • By Tempus01 29th Aug 17, 7:05 PM
    • 61 Posts
    • 61 Thanks
    Tempus01
    • #4
    • 29th Aug 17, 7:05 PM
    • #4
    • 29th Aug 17, 7:05 PM
    Welcome to the forum. I only joined last week but it has been a great week here. The non judgemental support is amazing!!! I'm probably three years away from being debt free too but small changes do help. Suscribed to your thread, excited to see how you do. Good luck
    22.08.2017 start of my journey
    Loan = £8392.32/£7465 (incl interest) Barclays Card = £1631.36 Tesco Credit Card = £2003.17 / £2086.17 NatWest Credit Card = £1422.34/ £1406.43 Littlewoods account = £104 / £40.60
    • Kidder81
    • By Kidder81 30th Aug 17, 5:01 AM
    • 45 Posts
    • 49 Thanks
    Kidder81
    • #5
    • 30th Aug 17, 5:01 AM
    • #5
    • 30th Aug 17, 5:01 AM
    Well done on facing up to your debts. That's often the hardest part. Do your SOA for some great advice.
    • HopefulHumphrey
    • By HopefulHumphrey 31st Aug 17, 9:13 AM
    • 12 Posts
    • 13 Thanks
    HopefulHumphrey
    • #6
    • 31st Aug 17, 9:13 AM
    • #6
    • 31st Aug 17, 9:13 AM
    Thank you for all your words of encouragement. Going to try an SOA and will let you know how I get on.
    • EssexHebridean
    • By EssexHebridean 31st Aug 17, 10:26 AM
    • 7,786 Posts
    • 40,314 Thanks
    EssexHebridean
    • #7
    • 31st Aug 17, 10:26 AM
    • #7
    • 31st Aug 17, 10:26 AM
    Positivity and a plan - great places to work from! well done for looking to get things under control and for taking such solid steps to get moving on it. Going back to work earlier than planned can't have been easy at all so well done for accepting that needed doing too.

    Get that SOA done and posted and we can take a look.
    MORTGAGE FREE 30/09/2016
    Sainsbugs 0% card: 22/12/16 £1229.00/£504.92 (29/08/17)
    • enthusiasticsaver
    • By enthusiasticsaver 31st Aug 17, 11:21 AM
    • 4,265 Posts
    • 7,722 Thanks
    enthusiasticsaver
    • #8
    • 31st Aug 17, 11:21 AM
    • #8
    • 31st Aug 17, 11:21 AM
    Well done for being pro active. I would use this month to live as frugally as possible as you have a part time wage but full time child care to pay for before the tax credits kick in. Use a spending diary and think about every penny you spend and whether it is really needed. Obviously essential bills like rent, utilities, food need paying for but for all else (entertainment, clothes etc etc) I would not be spending on this until you have a normal wage coming in and a budget and debt repayment plan. Presumably you have child benefit which can be used for nappies for your son and other essentials.

    Food wise you would do better going to Aldis or Lidls than ASDA. Meal plan, bulk out meals with veg, stop snacks etc apart from fruit and use cheap household stuff for this month. Use the toiletries you have and no haircuts this month. Hopefully no gifts either. There are a few challenges which might be handy. Take leftovers or packed lunch to work and no buying coffees or lunch out. You would be surprised how frugally you can live for one or two months only. Then when you have your tax credits and full time wage you can set a sustainable budget going forward.
    Countdown to early retirement on 21.12.17 3 months to go.
    • laurenh1
    • By laurenh1 31st Aug 17, 12:28 PM
    • 76 Posts
    • 285 Thanks
    laurenh1
    • #9
    • 31st Aug 17, 12:28 PM
    • #9
    • 31st Aug 17, 12:28 PM
    Well done you on getting to work on this. The good news is that it is all fixable, even if it doesn't feel like it. Defo do a SOA and then you know where you are, and also, as other people have suggested, a spending diary, making sure you take note of every single penny that you spend, it may well be that at the end of the month you are surprised by the amounts you have spent, maybe not, but either way you will know where you are. Once you have done those you can start looking at how to cut back also consider anything annual or one off, such as Christmas, so that you can start to put away for those too and include them in your monthly total. if you haven't already, phone your pay day loan company and ask them to freeze the interest and tell them you will pay them a small amount each month. I hate hate hate them, and what they do to people already struggling! Good luck to you and your boy and well done on making a start to change your situation
    • HopefulHumphrey
    • By HopefulHumphrey 13th Sep 17, 9:54 PM
    • 12 Posts
    • 13 Thanks
    HopefulHumphrey
    Finally My SOA
    I'm back and feeling more miserable than ever
    OK - that's a lie, for the first time ever my son has gone to sleep in his cot without screaming.
    But - that means that I was able to finally do my SOA and it makes for quite horrific reading, because it shows I AM BROKE.
    I am very much in the red

    I absolutely need to get rid of my car as without it I will be SO much better off, but that isn't until February. PEOPLE, avoid HP!!
    I have based my SOA on my full time earnings and hoped my situation would improve. Which it has, but not by taking me into the black as I had hoped.

    This month is pretty bad so far. My mum has bailed me out for next week's childcare bill and my uncle has bailed me out in terms of grocery shopping. I'm not sure how I will be getting into work, but I will have to come up with something.

    Right - before I go off on a full on rant - here is my SOA. I have estimated things, like groceries (which include baby formula, nappies etc), clothing (for the baby and me if desperate), birthdays and entertainment. Car maintenance I have estimated for the year and divided by 12. Oh and finally, my TV, internet and phone line are a combined bill. As soon as I can in April this will be reduced to just phone and internet to bring this down.

    Statement of Affairs & Personal Balance Sheet

    Summary

    Monthly Budget Summary Amount(£)
    Total monthly income 2,868.43
    Monthly expenses (incl. HP & secured loans) 2,999.16
    Available for debt repayments -130.73
    UNsecured debt repayments 166
    Amount short for making debt repayments -296.73
    Personal Balance Sheet Summary Amount(£)
    Total Assets (things you own) 0
    Total Secured & HP Debt -12,900
    Total Unsecured Debt -8,608.9
    Net Assets -21,508.9
    Household Information

    Number of adults in household 1
    Number of children in household 1
    Number of cars owned 0
    Income, Expense, Debt & Asset Details

    Income Amount(£)
    Monthly income after tax 2155.43
    Partners monthly income 0
    Benefits 413
    Other income 300
    Total monthly income 2868.43
    Expenses Amount(£)
    Mortgage 0
    Secured/HP loan payments 370.3
    Rent 808
    Management charge (leasehold property) 0
    Council tax 148.55
    Electricity 32
    Gas 19
    Oil 0
    Water Rates 0
    Telephone (land line) 0
    Mobile phone 10
    TV Licence 29.4
    Satellite/Cable TV 57
    Internet services 0
    Groceries etc. 200
    Clothing 20
    Petrol/diesel 40
    Road tax 2.5
    Car Insurance 65.21
    Car maintenance (including MOT) 20.9
    Car Parking 10
    Other travel 203
    Childcare/nursery 843.3
    Other child related expenses 10
    Medical (prescriptions, dentists, opticians etc.) 0
    Pet Insurance/Vet bills 30
    Buildings Insurance 0
    Contents Insurance 0
    Life Assurance 0
    Other Insurance 0
    Presents (birthday, christmas etc.) 40
    Haircuts 0
    Entertainment 40
    Holiday 0
    Emergency Fund 0
    Total monthly expenses 2999.16

    Secured & HP Debt Description Debt(£) Monthly(£) APR(%)
    Mortgage 0 (0)
    Hire Purchase (HP) Debt 331.3pm (12000)
    Hire Purchase 39 (900)
    Secured & HP Debt totals 12900

    Unsecured Debt Description Debt(£) Monthly(£) APR(%)
    Vanquis 1pm (3145.34)
    Capital One 30pm (2308.75)
    Wonga 20pm (325.4)
    very 43pm (1300)
    next 20 pm (450)
    Sunny 20pm (331.2)
    Quick Quid 15pm (598.4)
    Barclay Card 17pm (149.81)
    Unsecured Debt totals 8608.9

    Asset Description
    Cash 0
    House Value (Gross) 0
    Shares and bonds 0
    Car(s) 0
    Other assets (e.g. endowments, jewellery etc) 0
    Total Assets 0
    • Arleen
    • By Arleen 14th Sep 17, 1:35 AM
    • 948 Posts
    • 702 Thanks
    Arleen
    The very first thing is that you will need to run a spending diary, as you cannot get full and proper financial picture on estimates. So start it today and run it for a full month, noting where every single penny is spent.

    Couple easy wins based on your estimates:

    Other travel: that is very high, especially as you already have a car, what is it and can there be less of it?

    Groceries: 200 is very high, even with your son things included.

    Pet insurance: cut it, it's really something you don't need as typical vet bills are nowhere near high enough to justify it.

    TVlicence: why is that almost 30 pounds? It should be 12.25
    • enthusiasticsaver
    • By enthusiasticsaver 14th Sep 17, 2:06 AM
    • 4,265 Posts
    • 7,722 Thanks
    enthusiasticsaver
    If the HP is for the car then yes it has to go as it costs you £500 per month. Presumably you don't use it for work if you only use £40 diesel a month and pay £203 for a travel card?
    Countdown to early retirement on 21.12.17 3 months to go.
    • anna_1977
    • By anna_1977 14th Sep 17, 8:59 AM
    • 589 Posts
    • 829 Thanks
    anna_1977

    Statement of Affairs & Personal Balance Sheet

    Summary

    Monthly Budget Summary Amount(£)
    Total monthly income 2,868.43
    Monthly expenses (incl. HP & secured loans) 2,999.16
    Available for debt repayments -130.73
    UNsecured debt repayments 166
    Amount short for making debt repayments -296.73
    Personal Balance Sheet Summary Amount(£)
    Total Assets (things you own) 0
    Total Secured & HP Debt -12,900
    Total Unsecured Debt -8,608.9
    Net Assets -21,508.9
    Household Information

    Number of adults in household 1
    Number of children in household 1
    Number of cars owned 0
    Income, Expense, Debt & Asset Details

    Income Amount(£)
    Monthly income after tax 2155.43
    Partners monthly income 0
    Benefits 413
    Other income 300
    Total monthly income 2868.43
    Expenses Amount(£)
    Mortgage 0
    Secured/HP loan payments 370.3you've already mentioned this
    Rent 808
    Management charge (leasehold property) 0
    Council tax 148.55 are you getting single person discount? Also make sure you're paying over 12 months not 10
    Electricity 32
    Gas 19
    Oil 0
    Water Rates 0
    Telephone (land line) 0
    Mobile phone 10
    TV Licence 29.4
    Satellite/Cable TV 57is this something you can cancel?
    Internet services 0
    Groceries etc. 200
    Clothing 20
    Petrol/diesel 40
    Road tax 2.5
    Car Insurance 65.21
    Car maintenance (including MOT) 20.9
    Car Parking 10
    Other travel 203
    Childcare/nursery 843.3
    Other child related expenses 10
    Medical (prescriptions, dentists, opticians etc.) 0
    Pet Insurance/Vet bills 30
    Buildings Insurance 0
    Contents Insurance 0
    Life Assurance 0
    Other Insurance 0
    Presents (birthday, christmas etc.) 40
    Haircuts 0
    Entertainment 40
    Holiday 0
    Emergency Fund 0
    Total monthly expenses 2999.16

    Secured & HP Debt Description Debt(£) Monthly(£) APR(%)
    Mortgage 0 (0)
    Hire Purchase (HP) Debt 331.3pm (12000)
    Hire Purchase 39 (900)
    Secured & HP Debt totals 12900

    Unsecured Debt Description Debt(£) Monthly(£) APR(%)
    Vanquis 1pm (3145.34)
    Capital One 30pm (2308.75)
    Wonga 20pm (325.4)
    very 43pm (1300)
    next 20 pm (450)
    Sunny 20pm (331.2)
    Quick Quid 15pm (598.4)
    Barclay Card 17pm (149.81)
    Unsecured Debt totals 8608.9

    Asset Description
    Cash 0
    House Value (Gross) 0
    Shares and bonds 0
    Car(s) 0
    Other assets (e.g. endowments, jewellery etc) 0
    Total Assets 0
    Originally posted by HopefulHumphrey
    please see my comments in red - good luck and well done for addressing your debt so positively
    • C.M.
    • By C.M. 14th Sep 17, 9:29 AM
    • 49 Posts
    • 98 Thanks
    C.M.
    As a quick win....if the car isn't necessary and you're spending on a travel card, can you declared the car off the road - cancel tax and insurance, and send a SORN - Until you return it in Feb?
    • laurenh1
    • By laurenh1 14th Sep 17, 10:17 AM
    • 76 Posts
    • 285 Thanks
    laurenh1
    also, can groceries by reduced at all, even slightlly? I know how dear formula is but anything would help xx
    • LMG1305
    • By LMG1305 14th Sep 17, 10:58 AM
    • 86 Posts
    • 618 Thanks
    LMG1305
    You've counted your car payment twice.

    Secured/HP loan payments 370.3
    Hire Purchase (HP) Debt 331.3pm (12000)
    Hire Purchase 39 (900)
    • EssexHebridean
    • By EssexHebridean 14th Sep 17, 11:21 AM
    • 7,786 Posts
    • 40,314 Thanks
    EssexHebridean
    OK let's take a look - comments in red


    Statement of Affairs & Personal Balance Sheet

    Summary

    Monthly Budget Summary Amount(£)
    Total monthly income 2,868.43
    Monthly expenses (incl. HP & secured loans) 2,999.16
    Available for debt repayments -130.73
    UNsecured debt repayments 166
    Amount short for making debt repayments -296.73
    Personal Balance Sheet Summary Amount(£)
    Total Assets (things you own) 0
    Total Secured & HP Debt -12,900
    Total Unsecured Debt -8,608.9
    Net Assets -21,508.9
    Household Information

    Number of adults in household 1
    Number of children in household 1
    Number of cars owned 0
    Income, Expense, Debt & Asset Details

    Income Amount(£)
    Monthly income after tax 2155.43
    Partners monthly income 0
    Benefits 413
    Other income 300
    Total monthly income 2868.43
    Expenses Amount(£)
    Mortgage 0
    Secured/HP loan payments 370.3
    Rent 808
    Management charge (leasehold property) 0
    Council tax 148.55 Make sure you have single person discount applied to this and see about paying it spread over 12 months rather than the standard 10 - it makes budgeting far easier when things are tight.
    Electricity 32
    Gas 19
    Oil 0
    Water Rates 0 You're in Scotland I take it?
    Telephone (land line) 0
    Mobile phone 10
    TV Licence 29.4 Why so much? Are you inside your first 6 months paying this? If so when does it drop to the standard amount?
    Satellite/Cable TV 57 See if you can negotiate this down at all - you may be able to if you're willing to agree to an extended contract
    Internet services 0
    Groceries etc. 200You can definitely knock £50 a month off this - perhaps more.
    Clothing 20 Take this down to absolute essentials only for the time being.

    Petrol/diesel 40
    Road tax 2.5 Do you pay this by monthly DD? If so you're being charged a premium. Set money aside and pay annually to avoid this
    Car Insurance 65.21
    Car maintenance (including MOT) 20.9 Do you actually save this monthly?
    You're not showing any cash assets.

    Car Parking 10 can you get rid of this? Park a bit further away and walk.,
    for example?

    Other travel 203
    Childcare/nursery 843.3 Do you uise childcare vouchers/get any other help with this that you're entitled to?
    Other child related expenses 10
    Medical (prescriptions, dentists, opticians etc.) 0
    Pet Insurance/Vet bills 30
    Buildings Insurance 0
    Contents Insurance 0 SORT THIS OUT NOW - it's such a false economy not to have it.
    Life Assurance 0
    Other Insurance 0
    Presents (birthday, christmas etc.) 40 You need to cut this right back. Small but carefully thought out presents for your own child, token gifts for other (very) close family members or agree to not exchange gifts at all, ideally.
    Haircuts 0 Never? Not for you or the little one?
    Entertainment 40
    Holiday 0
    Emergency Fund 0 You need to try to get something here as soon as you reasonably can.
    Total monthly expenses 2999.16

    Secured & HP Debt Description Debt(£) Monthly(£) APR(%)
    Mortgage 0 (0)
    Hire Purchase (HP) Debt 331.3pm (12000)
    Hire Purchase 39 (900)
    Secured & HP Debt totals 12900

    Unsecured Debt Description Debt(£) Monthly(£) APR(%)
    Vanquis 1pm (3145.34)
    Capital One 30pm (2308.75)
    Wonga 20pm (325.4)
    very 43pm (1300)
    next 20 pm (450)
    Sunny 20pm (331.2)
    Quick Quid 15pm (598.4)
    Barclay Card 17pm (149.81)
    Unsecured Debt totals 8608.9

    Asset Description
    Cash 0
    House Value (Gross) 0
    Shares and bonds 0
    Car(s) 0
    Other assets (e.g. endowments, jewellery etc) 0
    Total Assets 0
    Originally posted by HopefulHumphrey
    You HAVE to find a way of stepping away from the Payday loan trap. Your rent is high - this doesn't help particularly when combined with childcare costs - as you know yourself your ends just aren't meeting at the moment.

    Big chunky costs:
    The car you know about - is there ANYTHING you can do to cut this? can your travelcard be used instead of the car? As someone has said SORN'ing it could be an option but that relies on you having somewhere to park it up AND it won't save you a massive amount - that HP is the killer, currently.
    Rent: Any option to move back with family short term? Or find somewhere cheaper to rent that won't increase your other costs massively?
    Travel: is it possible to use the car for more of your journey to work to reduce costs? We had to take the view some years back that it simply wasn't viable for MrEH to continue to use the train right from our home station - he now drives into London and uses the tube, cutting 2/3rds off his public transport costs.
    Childcare: Is there any way of reducing this at all? Family members who can help perhaps?

    As things stand, your debt repayments are almost irrelevant as you don't have money to pay them. My suggestion would be to set all your payments to loans, cards etc to £1 and then talk to one of the free debt charities for advice.
    MORTGAGE FREE 30/09/2016
    Sainsbugs 0% card: 22/12/16 £1229.00/£504.92 (29/08/17)
    • laurenh1
    • By laurenh1 14th Sep 17, 6:27 PM
    • 76 Posts
    • 285 Thanks
    laurenh1
    Im sorry if im covering old groung but could you keep a spending diary? A few monthd of writinh down every penny might show up an opportunity to save xx
    • Suseka97
    • By Suseka97 15th Sep 17, 1:49 PM
    • 126 Posts
    • 189 Thanks
    Suseka97
    Firstly, as with many others I just wanted to say well done for taking control and for doing what you can to resolve the situation. You've had some good advice from others in relation to your SoA and possible ways of cutting back and so forth - but have you considered contacting one of the 'free' debt management companies (StepChange or Payplan) as EssexHebridean has suggested.

    You've set yourself a (3 year) debt-free challenge - which is great, but only if its affordable. You don't have much spare cash until you can clear the HP loan and it looks like you struggle to pay even the minimum amounts to the unsecured debts. You definitely need to build up an emergency fund - especially with a little one to care for. If you go online and use the StepChange debt remedy tool, you'll be able to get a reference and you can use that in your dealings with creditors - explain your situation, tell them your working with SC (even if you are not) to come up with a repayment plan and pay token payments if you wish. Do this for a couple of months only (longer if your okay with the possibility of creditors defaulting you), build an emergency fund equal to what you would have been paying them and then set up an affordable repayment plan.
    LBM Apr13: 14 Creditors / £85k+ owed
    Current Status: 6 Creditors / £11,994
    DFD: Aiming for end of 2018
    Self-managed Aug17: CCAs pending
    • HopefulHumphrey
    • By HopefulHumphrey 15th Sep 17, 2:51 PM
    • 12 Posts
    • 13 Thanks
    HopefulHumphrey
    Update since SoA
    Hello All
    Thank you SOOOO much for your feedback.


    So, since the SoA I have done some serious thinking. I have made the decision to move back into my mum's spare room with my son (well I am going to ask her tonight).
    It's not ideal and its not the best environment, but I just see no other option and I am starting to have sleepless and tearful nights and I need to be the best version of me for my son.
    I can't lie, the word "failiure" is looming high and mighty over my head, and the word "looser" is following my every step.


    In answer to some of your questions:
    • I live in London; so my rent is actually low for my postcode (a government reduced rent scheme). My council tax already has the single person exemption on it.
    • I work in central London, so do not have the option to drive to work (congestion charge and high parking fees)
    • I have not cut my hair since September 2016! Luckily, I have hair that can survive such terrible care.
    • It eats away at me daily that I do not have an emergency fund or any sort of insurance; phone, contents or otherwise
    Luckily, due to the high demand for reduced rent housing in London my notice period is only 4 weeks! So I should be able to get back to my mum's and relatively settled before my loan arrangements are reviewed at which point I would hope that I can start to manage a higher payment arrangement.


    The cons of moving home:
    • I would still pay for my BT bill until April 2018 - unless I can convince my mum to swop her Virgin set up (which is a rolling contract) for my BT package and then I can share the bill
    • I would not want to move my little boy's child care until July, so would have a bigger journey of a morning
    • I will have a lot of left over furniture! But I have already started lists of what I can sell, what I can bring to my mum etc. I may get storage - still a hell of a lot cheaper than RENT!


    Thank you again for all of your positivity and advice.


    HopefulHumphrey
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  • RT @iiSteveJonesii: @MartinSLewis After watching you talk this morning about me burning £300 I got on a comparison site tonight & sure enou?

  • In or near York? This Wed the @itvmlshow Roadshow" will be at the York Food & Drink Festival - do come and say hi; St Sampsons Square 11-4.

  • It's the subtle poetry and lyricism of tweets like this that I find so endearing https://t.co/XhSKBCGyXe

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