Budgetting On Benefit

Fran

squeaky wrote:

Given the size of your overdraft and your need to reduce it I think the debt free wnnabee board would be a good one for you, lots of advice and support, so I'll move you across there shortly.

Good luck.

There's nothing to stop you being a site "tart" and posting on the Benefits Board about benefits, we are friendly there too ) and as squeaky says, the debt free wannabe for debt (though as I have suggested CAB would be a good start for you as you have different issues to look at), also the Student Money Saving board for other info that might be useful. Anyway you'll have plenty to read!

Sunnydoo

Squeaky; Links are fine now-Thanks for that
I did wonder about the debt free wanabee board-will look on there for more advice


Fran;Thanks for the advice-I do declare my Avon to the DWP & the income i get from mystery shopping & surveys isn't enough to put me over the £20 limit.I will be stopping ebay soon,just doing it to make enough to pay my mortgage,it would be impossible otherwise
I have also checked re learning support fund-this is all i'm entitled to as a part time student & is completly disregarded for Income Support purposes
Thanks also for links/advice re other boards-will look at them

Spendless

Hi

Have you double checked about when you will get help for your mortgage. I am under the impression that different rules come in if someone has been 'abandoned', though I have no idea how this is defined.

Sunnydoo

Hi Spendless

Thanks for the idea but i haven't been abandoned-my partner left me 6 years ago when DD was 5 months,so I still have to wait 9 months unfortunately

jen_jen_2

hello,

well you definately need to post all incomings and outgoings so we can have a look and make suggestions.

other options, can you get your mortage on interest only until dwp start making payments, you may have to repay more in the long run but you need to cut down now and by paying the interest for now your debt will not be growing.

as a student you should be able to get a credit card, if you get a 0% one you could "tart" some of your debt onto this - beware, you will not be able to use the card except to tart and if the 0% ends or you dont get offered the same balance you will start accruing interest on it. check out the credit card board for more details, i have been tarting debt for a number of years you do have to be organised though

have a chat to your uni welfare rights officer, they should have some welfare funds/access fund/charity grant information and could make an application on your behalf. some of these will give you money depending on the type of course you are on because they like to support people who are changing career, in education etc. or becasue they need something and cant afford it due to circumstances eg a new bed for child. Lots of these funds dont use all their money - if you dont have a welfare rights officer try CAB or google something like education funds/grants.

electricity - you can get free low energy light bulbs from utility providers, check out the boards

so post your budget and see what we can come up with

Sunnydoo

Hi,

Thanks Jen_ Jen

Here goes;

Outgoings:

Mortgage £223 per month

House insurance £102.94 per year

Contents insurance £83.41 per year(just shopped around for cheapest quote for these)

Life insurance £20 per month(in process of getting cheaper deal)

Childminder £14 per week(needed for the 2 days i go to college & she won't work less than 4 hours a week)

Bus fares about £6 per week(more if i don't get lift to college)

Broadband £17.99 per month(need pc for ebay,surveys etc & have to be available by phone in case my Avon reps need me)

BT line £13 per month

Talk Talk phone calls approx £6 per month

Water £23.62 per month

Scope donation £10 per month(don't really want to cancel as i have a niece with cerebral palsy)

Gas £19 per month

Electricity £23.50 per month (Martin advises not to change suppliers at present

TV licence £12 per month

Sky £16 per month(just downgraded package)

Let me know if i've forgotten anything!

Incomings;

Income Support £22.87 per week

Child support £33.33 per week

Child benefit £68.00?(can't remember exact amount) per month

Tax credit £35.07(due to overpayment)

Avon approx £40 per month(seasonal-goes down a lot between mid Dec & Springtime)

Ebay approx £50 per week(seasonal-see above)

Surveys approx £2 per week

My overdraft is approx £1400 & my credit cards are all clear

I worked out that i have around £50 after all the bills are paid for food,clothes etc but i just can't seem to make it last let alone decrease my overdraft!

Any suggestions please?

Jen_Jen_5

I would appeal the tax credit overpayment, many of them are made by inland revenue official error but you have to write and complain to get them to agree not to collect it.

check out the benefits board.

Sunnydoo

Thanks-didn't know i could do that

They recovered an overpayment off me 3 years ago then realised they had made a mistake at the end of the year & paid me £600 back pay!

skintchick

OK, here's my thoughts on your budget:

House insurance £102.94 per year

Contents insurance £83.41 per year(just shopped around for cheapest quote for these) These still sound high - I pay £120 for both, but I know it depends where you live.

Life insurance £20 per month(in process of getting cheaper deal) Do you really need this? THis £20 would help a lot towards your debt. you can always take it out again later.

Bus fares about £6 per week(more if i don't get lift to college) Can you get a season ticket?

Broadband £17.99 per month(need pc for ebay,surveys etc & have to be available by phone in case my Avon reps need me) Can you get this any cheaper?

BT line £13 per month - swap suppliers. Onetel charge 9.99 for line rental

Talk Talk phone calls approx £6 per month - Could you get a better deal? Try the telephones board.

Water £23.62 per month - sounds high but I guess you can't get a meter fitted as you are a student. Shame as it would be cheaper

Scope donation £10 per month(don't really want to cancel as i have a niece with cerebral palsy) - I hear what you're saying, but right no you need that tenner. Why not overpay later on to make up for stopping the payment now?

Gas £19 per month

Electricity £23.50 per month (Martin advises not to change suppliers at present - indeed he doesn't, but as soon as he does, do so.

TV licence £12 per month - shouldn't it be £10.something?

Sky £16 per month(just downgraded package) - you don;t NEED Sky. Cancel it and use this cash towards your debts.

I make that an extra £49 for debt-busting.