I can't afford to go bankrupt - so what now?

Biffa

Public transport isn't an option - it would make a 45 minute drive to work a near two hour ordeal. Plus I need my car for my work. There's no way I could do without it. Hubby has downgraded his car from a 2.5V6 fully loaded mondeo to a knackered 1.2 Nova saloon with no fancy features like ABS or power steering. Mine is an old P reg 2.0 mondeo, so we'd only get about £500 for it as it's now high mileage and I can't afford to buy anything else.

Magentasue

But you can't afford two cars! Cutting kids' hair is easy - I've done my kids' hair all their lives! How old are they?

Biffa

Five and six with a complete inability to keep still for longer than 5 seconds!

ms_london

If you do move closer to work, that saves you £400 automatically...

I do believe that you can spend less on food than what you currently are, despite being a family of 4..

Your gas/electric/water bills seem high...but perhaps this is normal for a family..

What could your husband be earning if he were to work? The childcare cost you quoted doesnt seem that high to me.....

As others have mentioned, you could easily save money on haircuts/food shopping/mobile phone and petrol (even if you only save £10 a week on petrol), there must be journeys that you could avoid/cut back on..

xx

calleyw

Biffa wrote:

The problem with Hubby getting a job is that it's better for us as a family for him to saty at home with the kids, get the cooking and cleaning done etc etc. It's a bummer financially, but from a lifestyle point of view it's easier, better for the kids and gives us more time as a family together because we don't now spend each weekend getting the shopping and cleaning done. It sounds selfish I know.

He does not have to work days. What about stacking shelves in a supermarket overnight a couple of times a week. And most supermarkets offer as an incentive a staff discount card. So you could save money on your shopping as well.


Yours

Calley

Magentasue

Have to say that two incomes is your answer. Of course it's nice to have a parent able to stay at home but you can't afford that.

Biffa

It would be ideal for him to get a job in a supermarket, but he has health issues as well, not least being a broken back.

exessexmum

I cut my kids hair and they are about that age. I find bribery with a small lolly works well. Or stick a video on and do it quickly.

And your grocery shopping bill is waaaay high, especially as your DH is home all day so could easily cook stuff from scratch. We have 6 to feed and we don't buy all value stuff or anything, but we have got our grocery shop (including nappies and formula milk) down to between £40-£50 a week just by menu planning and shopping to a list. I make cakes instead of buying them and buy own brand cereal (which we go through like mad) as its the same as Kellogs/Nestle. I also make use of the Tesco codes posted online to ensure I get at least free delivery (order online so less likely to buy extras I don't need) if not £10 off each week, and I save on fuel not having to go and buy the food.

As you already said, your utility bills are extortionate, as is your fuel costs, but you are already doing somethig about those.

Could your hubby get a part time job in school hours, let's be honest, no-one, not even living in a mansion, needs from 9am to 3.15pm 5 days a week to cook and clean a house. Cooking max of 1 hour a day (and that's being generous) Cleaning, well my house is spotless and it takes me an hour a day tops to keep on top of it. What does he do during the rest of the day? Even an Avon round would being in a few quid, or a couple of shifts trolley stacking at Tesco. Theres loads of seasonal work going around at the moment too.

Good luck
Tracey

ms_london

There are plenty of other jobs he could do.

Its either that, or you WILL have to find other ways to cut your budget, there's no question of it.

At the moment you do not have any room in your budget to repay your debts, well even after you are bankcrupt, you will still be overspending each month. So its not a question of IF, but a question of WHEN. If it means you move closer to work sooner, even over Christmas then you should do it.

I do hope that you are not spending outrageous amounts on Christmas too!!

Magentasue

If he has health problems that stop him working, shouldn't you be able to claim benefits? What did he do before he stopped working?