My first post on DFW, need advice - SOA included

Scarlett1212

Is the money you owe to family interest free? and if so would they consider giving you a bit of a break in payments? You don't need to tell them about your other debt - just say it's a change in circumstances due to the credit crunch - the £200 could be used to start paying off the highest apr cc.

Can your OH take on a second job?

Could you find cheaper rented accommodation - are you say..on the list for Council or HA Housing?

You are quite near the edge with payments (as am I - I know what its like!) can you ebay/carboot for extra money. Kids clothes sell quite well.

Flipped27

Yes, its interest free. While I have been on maternity leave the payments I have made have been quite sporadic....I do really need to keep paying them though as they need it.

As for the cheaper rental property - we live rurally and actually have a fantastic deal on a lovely house near a wonderful school. Moving would really be a final option as it would really upset the children. Houses around here wouldn't be much cheaper than this anyway unfortunately... We could put our name on the council list but I don't think we would stand a chance due to our income and the fact we are renting privately?

My other half works 40+ hrs a week and I don't think he would even be allowed to in his line of work. I work 27.5 hrs a week (or will do from May) and have emplyed a childminder who is incredibly flexible around dh shifts so he can have baby when he is home.......

I do sell on ebay, last month I made £100 which disappeared into the abyss of my overdraft....(which I completely forgot to include on my SOA?!) I am sitting next to a massive box of things to stick on there too....

Thanks for your help

Scarlett1212

Okay, you're in the same position as me at the moment, I don't think you are going to get any more credit on a better apr- I considered phoning up the banks to ask them to lower the apr - but was informed by RAS on here not to do that as they might actually increase the apr if they think you are in difficulty - So don't do that.

You have to increase your income:

Ideas I have off the top of head...

1. Can you rent out a room?

2. Can you work from home? maybe avon/virgin parties

3. Sell everything/anything thats not practical and needed, no space for sentimentality here.

4. Start doing reviews/daily clicks for a bit of spare cash.

5. Theres a board on here to maximise your income - have a look on there

6. Sell a child.....no? sorry only kidding

Outgoings have to be minimised

1. Grocery bill can be lowered - (and i know you have nappies on there. Are you a member of the Boots Parenting Club, that can be quite good and they often do specials on nappies. anyway i digress). Start buying value brands and cooking/freezing in bulk - actually saves you time in the long run. Try to cut it down a small amount every month.

2. Your water rates bill seems high - but I don't really know - I'm from Scotland and we pay water with council tax.

Do me a favour and change your heading to SOA included - you will get more people in to have a look and to help.

Flipped27

Thanks

1. Not allowed to rent out a room as we are renting ourselves...
2. I tried avon and I was terrible at it! I could give it another go....
3. Totally with you, am on it
4. ? Don't know how to go about that?!
5. I will find it...
6. Don't think I would get much

I have cut down my grocery bill as much as I thought I could - its £85 a week to include lunches etc...too much?

Water? OMG we live in Devon and the water rates are ridiculous. I wish I could lower it.....stealing my money they are!

Horace

Flipped you can probably cut your grocery bill back even further - have a look at the Moneysaving Oldstyle board on the forum as they have tips on meal planning etc. As for lunches at work, it is cheaper to take a packed lunch than buy one.

Make a shopping list before you go shopping and stick to it - buy meat from a local butcher not from the supermarket as it will often be cheaper (and nicer) and get your veg at the greengrocers also cheaper.

I am afraid to say, get rid of your entertainment budget because you cannot afford it at the moment - join your local library to borrow books and maybe DVDs, go for walks (cheaper and can be fun for kids if you turn a walk into a game - like finding things e.g. who can spot a butterfly, pretty stone, unusual leaf or whatever).

Flipped27

Sorry I meant to include packed lunches...

The £50 is £25 each for me and dh, we have just started doing it so that we have some money for things such as clothes, haircuts, work lottery, coffee at work etc without being able to overspend from it if you see what I mean.

Before we would just say "Oh well I have to have my haircut to look smart for work" whereas now, fine we do, but we have a simple budget for it and we know once our £25 is gone thats it no more till next month.

That was my theory anyway!? :rolleyes:

Scarlett1212

Hi Flipped, went to pick up DS from school, the clicks I do are free bingo scratchcards - theres a post on it

http://forums.moneysavingexpert.com/showthread.html?t=1412565&highlight=bingo+free+scratchcard

Not sure if i've done that right - first time i've tried, anyway basically you sign up to bingo sites that do free scratchcards - I'm on Take a Break and Butlins bingo. You deposit £10, do a free scratchcard (guaranteed to win something) and then take your £10 back out of the account. I've made about £12.50 a month, not exactly big bucks but i really enjoy doing the cards and its making me money from nothing.

Reviews are on dooyoo, you make about 50p per review and about 1.5p every time it gets rated by another member. Not going to make you a fortune but again not bad. You can do the reviews on anything...baby food, skin lotion, books, dvds, holidays so theres no end of stuff to do. You can cash out at £10 and get an amazon voucher or £50 for cash.

Also I'm doing reviews on holidays uncovered - you get £2 per review with them...but you have to go through topcashback to get the money. It's a really quick sign-up.

Also use cashback sites for insurance renewal/buying anything online. I've only used it so far to buy a washing machine and I got a fiver back - better in my pocket than theirs.

If I think of anything else I will let you know.

Flipped27

Thats great, every little helps!! I only have April and May to go until I will get a bit more money from work now so will concentrate on making a bit extra to shove on the overdraft....

I think I will need to come back with an updated SOA once I go back to work and get tax credits updated....whenever i have tried to get an estimate in the past it has been wrong and I don't want to set myself up for a fall.

I am just worried that actually, there is nothing else I can do and that its too late Sometimes I feel positive and then I realise how in debt we are and how it may affect my children and I feel awful.

Thanks so much for coming on and helping

Flipped x

Nargleblast

Flipped - don't beat yourself up about the situation - lots of people find debt sneaks up on them over the years and it isn't until they look back that they think "If only...." Hindsight is a wonderful thing, and I am sure when all the Debt Free Wannabees who take part in this forum were out there spending money like water, they never realised the credit crunch was coming until too late. We are only human after all, but at least by posting on this forum you are acknowledging your situation and trying to sort it out. Try out some of the ideas you have been given and see how it goes. And cut up those credit cards!!!!!

Gemmzie

Flipped - are you on a meter for your water? We're on South West Water too but that still seems high.