Debt help

Garyh79

Sorry, yes it does

bargainbetty

Would if be possible to get a part-time job? Bar work, pizza delivery, a few hours stacking shelves in Tesco? Your short-fall is not so large that a few hours a week wouldn't cover it. I know any job is hard to find right now, but is it worth a try?

Is the pay cut temporary or permanent? If it is permanent, you have to look at getting a new job. Does the cut drop you below the threshold for paying back your student loan?

Good luck, whatever happens x

RAS

is your partner on board re reducing your debts? Just tht there re places where you might save a few quid, but they would have to join in?

And do explore the Boost your income thread in the resources bar.

Garyh79

Ras - I don't live with my partner but my flatmate is going through Pay Plan so has been cost cutting. I do use the boost your income, have sold 2 old mobiles this month and use the NOTW cashback site, currently on £24.65.

I have looked at jobs, I work 8am till 6pm at the moment mon to fri so by the time i get home and eat its pushing 7.30 so evenings isnt really an option.

My pay has been cut to £27,500 and its permanent, I work in recruitment so commission is good but due to the market I havent seen any comission for a good few months and cant see any for the rest of the year more than likely.

RAS

Hi

if you were earning more earlier in the year, it is likely that your monthly income will increase when the new tax year starts. Can you double check what your net income will be in the April?

Garyh79

How do you mean? How will it increase? I get paid Friday and that will be the last pay of the current tax year. I get paid 4 weekly.

How do I check?

PS this tax year was my highest earning year ever, next will definitely be lower.

Gemmzie

http://listentotaxman.com/ < Just change the tax year to 09/10

RAS

Gemmzie

You are a darling. Thanks

Teacher2301

Try Quidco as another cashback site - especially good for financial services - ie re-insuring contents, car etc. and buying stuff on-line. Is there anything you can sell - ie something that people will buy - most will go for electrical equipment, DVD's (I would say baby stuff but obviously...) - it's another avenue to pursue (ebay is free if bids start under 99p).

Have you applied for working tax credits at all? Do the MSE quick benefits check (look at the top banner it's in there somewhere!)

Can you get a PAYG phone (via a cashback site)? Might work out cheaper - cut down on the number of calls you make as well.

£100 for food is good - but you could try Martin's 'go one shelf lower challenge' and see when you see a difference in the quality.

Do you need the car? How much better off would you be without it? Can you afford not to have it?

Perhaps invest in a hobby to make presents (although children are great for this - I hardly spend anything on days like mothering sunday - the kids make wonderful home-made pressies!)

Buy some money saving books - Martin has one out but also Alvin Hall and others have some books (use the library then its free) to help you sort out your finances and to take all this advice in.

Keep trying - I've been trying for nearly 7 years to be debt free but two kids later - things always find a way to help spend any extra cash I have...

boo80

Oh Gary, you're so close to being able to make all your payments! I know you won't have any kind of a social life, but surely it's worth having a tough year and get debt free? Could you cut back on your entertainment? I know £40 a month is hardly anything for a 29yr old single guy, but if you drop that then spend any income boosts on going out you've met your target. Good luck, Boo.x