help!

Beccal_3

Hi !

New to this site - but need some advice!

I am currently £7500 in debt, which compared to some people on here is tiny, but it's really taking over my life. £4500 of it is on two student overdrafts I got when beer and good times were all I was worried about. Now I want to start saving for a home of my own, and I really want to start a family with my partner, but not whilst I am in debt.

I have thought about going to the consumer credit people to see if they can help, but really worried this will have an adverse affect on my credit rating so that I will not be able to get a mortgage in a couple of years.

I have tried second jobbing, but I get so tired - i already work 40 hours a week. I would consider working from home, but every home working job i have seen...well therr always seems to be a financial catch!

I already budget - i really cannot cut down on what I spend already (well not that i know of). Help!

Trout69

Beccal wrote:

I already budget - i really cannot cut down on what I spend already (well not that i know of). Help!

Hi Beccal, welcome to MSE....Post your outgoings and incomings and i'm sure we can all dig in and try to find out if you can save anymore...

Donna

Beccal_3

hi

I earn about £833 per month after tax. I know what everyone is going to say....transfer cards to 0% balance cards etc, but i've tried! I was a !!!! at uni, and because of the mistakes i made two years ago I can't do anything. also, due to circumstances out of our control, my partner and I have moved 3 times in 18 months - landlords selling property from under our feet!

I am really stuck! I haven't even started to pay off my overdrafts, and I want to sooo much! I have contacted the banks to see if i can set up a montly payment plan, but they're not having any of it - they're making too much money out of me at the mo to do that!

I don't have sky. I don't smoke. I've been out twice in 6 months. i live 300 miles from my family and can't afford to go home more than twice a year.

Aghhgghghghghghg i just want to scream! I know the CCS is probably the way to go, but i don't want to mess up our chances of buying a house.


Rent 210
water 15
council tax50
store card50
credit card60
shopping 40
petrol 50
gas 10
elect 10
home insure 10
car insure 42
loan 35
rac 12
pet insure 10

Jen_Jen_5

that adds up to £604 so you have about £200 a month for your overdraft etc.

what does your partner contribute or are these figures half of everything?
please provide details of all the debts you have and balances and rates then we can really get to work

Beccal_3

Hi Jen Jen

The amounts are what I pay - my partner pays the other half of all household related bills. He cannot afford to help me out with my own debt - and the were from a pre-boyfriend period so i don't think its fair to ask him to help.

I do have £200 spare each month to pay back stuff - it just feels like once I pay from b/day and christmas...and this year we want to go on holiday - will be the first time in 6 years...

perhaps I just want it all paid up very quickly! just wanted to know if there was anyway of paying it back more quickly!!

the*dark*one

He Beccal,

Just wanted to send you some *hugs*. Your situation sounds very similar to how mine was when I left uni. It does get better :j

Is there any chance of you getting a better paid job? £800 is awfully low pay to be on for a graduate. Have you thought about selling your junk/old clothes/items around the house on eBay to make some extra cash on the side?

Beccal_3

I know - £12000 pa for a grad is rubbish, but I live in Devon, and my degree is in Public Relations. trying to find work down here in that field is shocking...i am very lucky to be where i am. We are moving away next year, closer to my family, and hopefully we'll have better luck with more money up there!

jcr16

i can fully understand how u feel. but don't give up. it won't take long to clear your debt's if you keep a strong head on you .and once you have done it. think how much more you will have spare.
my husband and i have only been out drinking once in the last 16 months. were 24 and 25 so we do like going out. but just can't afford it. we still have a great laugh tho. evenings we play scrabble , monoploy , invite freinds round , play cards. play games on x-box or ps2. even internet games.
i would agree your wages do seem very low. i earnt more than that by being a care assistant on a 37 hours week. also selling unwanted stuff is a great way of generating more cash. either ebay or car boot , which ever you feel more happier with doing.
how about ironing from home , loads in my local area ( iow so prob no good to you) pay not fantastic, but u can iron while watching tv. or even just working a couple evenings a week. maybe an extra 10 hours. not much but that couple be and extra £50 a week.

hth

Jen_Jen_5

try getting the cards to 0% i know you have tried but maybe because of the moving you have been refused credit. check your credit ref. file and see if its that or something else. would a consolidation loan be cheaper - you will need to check the cost over the whole of the loan and make sure you dont spend any more money on cards (not useually cheaper in the long term)
you could probably cut back on the food, look at the old style board and is the pet insurance essential?
i wouldnt worry you are paying off your debt at £200 per month, unfortunately your paying for your student days now- i wouldnt compare yourself to what others are doing, going out etc because they'll also have to pay for it sooner or later. be proud of the fact you have a small amount of debt and are clearing it before you buy a house.

well done you

ms_london

Hi there.

On the bright side, at least your outgoings are not exceeding your budget, and you are still left with £200 a month.

Things will improve, perhaps 6 months down the line you will find the job of your dreams with a better salary, or end up finding a cheaper flat to rent, these things do happen.

What you need to do is make your £200 go further, and if this is £200 after food shopping, this is a reasonable amount to be able to live off.

I would definately recommend selling on ebay, or at local car boots (when the weather gets better). I took two jobs, as this was the only way I could make the dent I did in my debts, plus it meant I could be earning money rather than being stuck inside at weekends because I didnt have any money to spend - although it was tough, and looking back, I am not sure how I managed it (I did it for 2 years!!).. Then I found a better paid full time job which meant I could give up my 2nd job (hoorah!!) and I have since paid off my debts.

Your quality of life doesnt have to suffer because you are on a limited budget, find free things to do - check out your local newspapers, and use this board to find offers & discounts on your shopping.

Could you perhaps be saving too much each month for Christmas/Birthdays? Well done for being so organised (I'm not even that organised!!), but perhaps you could cut that budget until things ease up?

Could you shop around for cheaper home/pet/car insurance? Could you use less petrol?

Good luck & let us know how you get on, but dont despair - you are doing a fab job!! xx

skintchick

I agree with Ms_London about birthdays and Christmas most of us budget too much for those.

I spend £200 max on Christmas - for mum, dad, brother, best mate, her son, four other close mates, about eight not so close mates. I shop throughout te year, and shop around. For one mate, he wanted a shredder (!) so I got one from Tesco online for £15 as recommended ont eh grabbit board, plus I got clubcrd points. CDs are cheap on Tesco Jersey, plus points, and people always like a CD.

Other friends I get maybe toiletries or books, and then make peppermint creams or biscuits that I put in organza bags I buy off eBay for hardly anything.

Birthdays are similar. I have at least five January birthdays to buy for, plus my own is in Jan too, and I buy during the year and keep it all in a box. I spend £5-£10 except on best mate who gets up to £20 (although for her 40th I spent £50!!)

It isn;t about how much, but the thought that goes into it - so don;t go mad!!