Feel trapped and lost

beanielou

Must be £2000+ for mortgage then.

Fire_Fox

That is an enormous amount for both gas and electric. You might head over to the G&E board for loads of ideas on how to reduce this. It would not be difficult to reduce this by half.

mani99

Sorry for not replying sooner... things to sort out.

Yes, the mortgage is over £2000, £2300 to be precise, plus he also pays £250 towards council tax, so he does contribute his fair share.


Today, Im feeling quite disheartened... I decided to try to make some extra cash so renewed my mobile phone contract purely so I could sell the phone on Ebay. Great, sold it for £200 which would've been a great help for me for the rest of the month. So what happens.... I get letters from my bank telling me that they are charging me £35 for 3 (thats £35 x 3 and also an additonal £28) transactions that took me over my limit. Some might say that is careless banking which is fair enough - but I knew I was approaching my limit so transferred what little savings I had into the account. My account has NEVER in all the years let me use my card to go over my limit, so after a few days I used my card for some very small transactions (less than £7 each) and it worked fine so I assumed the money was in there - big mistake I know.

It just seems that whenever I get into a position where I have extra cash, instead of being able to pay off my existing debts, I get hit with new ones. Oh, and I also got a £60 fine for taking a wrong turning on a road which I done hundreds of times!

Feel so down at the moment, money has turned this once bouncing and joyful person into someone who feels like breaking down and crying - and I never cry.

Long post - apologies, just have no one I can talk to so am talking to a forum!

mani99

Fire_Fox wrote: »

That is an enormous amount for both gas and electric. You might head over to the G&E board for loads of ideas on how to reduce this. It would not be difficult to reduce this by half.

I will do that, thanks.

Also going to see if I can reduce the monthly mortgage as current we're on a fixed rate of 5.7% but there will be a £11k fee if we do move elsewhere.

Fire_Fox

mani99 wrote: »

I get letters from my bank telling me that they are charging me £35 for 3 (thats £35 x 3 and also an additonal £28) transactions that took me over my limit. Some might say that is careless banking which is fair enough - but I knew I was approaching my limit so transferred what little savings I had into the account. My account has NEVER in all the years let me use my card to go over my limit, so after a few days I used my card for some very small transactions (less than £7 each) and it worked fine so I assumed the money was in there - big mistake I know.

It just seems that whenever I get into a position where I have extra cash, instead of being able to pay off my existing debts, I get hit with new ones. Oh, and I also got a £60 fine for taking a wrong turning on a road which I done hundreds of times!

Feel so down at the moment, money has turned this once bouncing and joyful person into someone who feels like breaking down and crying - and I never cry.

Long post - apologies, just have no one I can talk to so am talking to a forum!

If you have never had these bank charges before, and generally behaved well on your current account, it may be worth appealing to their better nature (!) and seeing if you can drop to one charge. You will need to persuade them that you did try to ensure there were sufficient funds in the account, and that you did not believe the transactions would go through if you did not have funds in place.

The road fine ... try to see how lucky you have been not getting fined all the hundreds of times you have made the same error. I know it's poor timing but you won't do it again, so you won't ever have to take the hit in the future.

And you can always chat to us.

mani99

Fire_Fox wrote: »

If you have never had these bank charges before, and generally behaved well on your current account, it may be worth appealing to their better nature (!) and seeing if you can drop to one charge. You will need to persuade them that you did try to ensure there were sufficient funds in the account, and that you did not believe the transactions would go through if you did not have funds in place.

The road fine ... try to see how lucky you have been not getting fined all the hundreds of times you have made the same error. I know it's poor timing but you won't do it again, so you won't ever have to take the hit in the future.

And you can always chat to us.

Thanks, I will speak to the bank and try to explain what's happened, hopefully they'll let me off at least 1 charge.

madmalteaser

Just out of curiosity, by the sounds of the size of your mortgage, it must be a pretty big place you guys have. Any scope for a lodger which would perhaps help with some of the mortgage?

QueenBeruthiel

As your house is your main asset and your main expenditure, trying to earn income from it - a lodger - sounds like an avenue you might want to explore.

£190 pm for utilities sounds ridiculous!

Is the £200 pm for groceries for all of you?

spam.jam

hiya
just wanted to say hello and please don't worry, you are in the right place for help and support- i have found everyone on here to be very nice and helpful. take care, spam xxx

millionaire_in_training

See if you can get balance transfers for your credit cards. That Vanquis is just silly interest. Will help with the debt reduction and subsequently the monthly payments. This is essential to do this. I know you think 'i just talk to a forum' but hey dont we all. The beauty of this place is that no-one knows you. No need to be embarrassed, no need to lie, it's enervating to say what you want and not have to watch what you say. Get the drink to hell as it's no answer for you. Get addicted to this site , there are loads of threads you can read. I have sat here some nights and been rolling about laughing at daft stories. Sometimes I feel so luckyy when I read other's stories and mine is far less worrying. Think of the positives you have. You have great parents, a lovely home, a good job by the sounds of it. Kick yourself up the bum and get sorted. You could be debt free other than mortgage within a couple of years if you put your mind to it. Read a few diaries and see how others are getting there. And remember every penny counts in this journey we are all on. Good luck and I hope you manage to lift yourself.xx