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rose11

Hi, I don't want to put to much detail on here and just need to get things off my chest. We are coping with paying things at the moment, just. But sometimes we are getting charged by the bank because there isn't the money in at the time, mainly because we only just get money in but the direct debit is taken out early ( I hope you can follow that! ) Also because of my OH job we don't know how much he's going to get til the end of the week. We haven't got any savings left now thru paying things and we also owe family and friends. I know alot of people are going thru the same thing and also its worse for them, but it gets to me at times, especially when I keep thinking of all the things I need or would like to buy. Is there a light at the end of this tunnel?

10past6

Why not change your DD date to a SO? (Standing Order)

There is always light at the end of the tunnel, sometimes though the tunnel is longer than we thought

skintandscared_2

rose11 wrote: »

Hi, I don't want to put to much detail on here and just need to get things off my chest. We are coping with paying things at the moment, just. But sometimes we are getting charged by the bank because there isn't the money in at the time, mainly because we only just get money in but the direct debit is taken out early ( I hope you can follow that! ) Also because of my OH job we don't know how much he's going to get til the end of the week. We haven't got any savings left now thru paying things and we also owe family and friends. I know alot of people are going thru the same thing and also its worse for them, but it gets to me at times, especially when I keep thinking of all the things I need or would like to buy. Is there a light at the end of this tunnel?

If you don't have any "buffer" in your bank account to cope with changing direct debits, have used all your savings and have borrowed off friends I'd hazard a guess that your outgoing are higher than your income... Is that a situation that is going to change in the near future (i.e. are you going to get more income, or are any of your current outgoings going to stop soon?)

If not, you need to review what you are spending. I know you say it's hard to work out what your OH is bringing home, but maybe try completing an SOA based on what you DO know, and see what you need him to earn, to cover everything?? If it's unlikely he can do that, you may see some areas where you can cut back?? You don't need to post the SOA if you don't feel comfortable, but there are lots of people on here who can spot great cut-backs a mile off. Even if you just do it for your own information. I know it's scary, but it really helps to see it all in black and white and figure out where the money goes!!!

nova

Hi, we have the same problem,oh is self employed, in would go a cheque but a direct debit would go out (and come straight back again!) 1 day before the cheque cleared thus incurring lots of charges, l got so sick of it l took the bull by the horns and cancelled all DD taking back control of our hard earned money, then we decided when the bills would be paid, as long as you take thetrouble to ring the companies concerned and tell them they seem to be ok.and remember to pay things monthly. l know how it is though if you live on a tight budget its disheartening when you see your money for something, grabbed in charges.

halight

Hi.
Just like to say good luck and all the best
There is light at the end of the tunnel you will get throuth this we all will!!!!!
And we might even learn somthing about ourselfs and about the world we live in!!!
Realy all the best i wish you the very best of luck!!!!!!

moneysavingplumber

I was self-employed for 15 years and whilst it's impossible to tell exactly what the earnings will be every week, it is possible to estimate it based on previous years' earnings and budget accordingly, at least you'll be in the ball park, this is exactly how I had to present my earnings to creditors with a copy of the most recent accounts, and to my annual review when I was in my IVA.

I agree that taking back control of your money will help by cancelling DD and changing to SO or cheque payments.

Good luck!

piglet39

Hiya Rose - just wanted to pop in and say hello!

Yes we have all been in the same boat. I did what Nova did - cancelled all dd's and so's and then rescheduled them making sure that I scheduled the priority stuff first (Rent (or mortgage if that's the case) and council tax followed by utilities. Have you thought about opening a basic bank account and having salary paid in, rearranging dd's and so's to come from that? Anything left over each week then going back to your original bank account. It's hard to give any further advice without seeing your soa but I know that this can be difficult. If you are able to the peeps on here give amazing advice.

Piglet

rose11

Thankyou so much for all your replies and thoughts, I don't feel so alone now. I will leave posting a SOA just incase my OH sees it at the moment but I might try and write it down for myself. I'm hoping that things might change soon once my OH qualifys, he's still training, though earning some money at the moment.That sounds good idea about the So's . Also just got to say thanks halight for what you said, I'd like to say it back to you