Another newbie

S._Tony_B.

Hi people,
I had my lightbulb moment a while ago and although I've been on the sidelines reading posts for a while, this is my first post.

Problem I have is that my wages vary. The figure that I could have used as a base is due to drop soon and I'm worried.

I have run up debts on credit cards and a flexible loan.I've put the CC on a 0% deal and was going to move the flexi loan to Amex for their LOB deal, but I'm concerned that the minimum payment will only cause me further problems.
Between the two the minimum payments will be over £400.

I've tried to cut outgoings as far as possible but with a family of five (nearly all adults) it's not easy.

How far should I let it go before I cut broadband or sky?
Unfortunately it would be a drastic move as the oldest relies on it to earn a living!! Think the OH would have something to say too!

Keep up the good work everyone. It's encouraging to see so many close to being debt free.

STB

CLAPTON

You need to provide more information before people can advice and suggestions

I would suggest you post a Statement of Affairs (SoA) here and people will give advice.

If you browse the bulletin board you will see examples but the general format is

: statement of income:

: statement of expenditure
this should be quite detailed but excluding debt repayment
: a subtotal to save us all having to add it up

: statement of all debts including
for Credit cards show: outstanding amount, monthly repayment , APR
for loans/HPs show outstanding amount, monthly payment, APR and number of months still to pay;

a subtotal of the total debt and of the total repayments, to save us having to add it up

also add a brief details of your situation, partner, any children, rent or own property, value of house and mortgage, any special circumstances that are relevant

S._Tony_B.

Thanks Clapton,
I realise that would help.

I've also come to the conclusion that there's a limit to what I can do until I get the rest of the family onside. They also need a lightbulb / wake up / smell the coffee moment.

Life goes on I suppose.

I've had a rant, that helps :-)

CLAPTON

come back when you're ready...good luck

fairylights_2

S._Tony_B. wrote:

How far should I let it go before I cut broadband or sky?
Unfortunately it would be a drastic move as the oldest relies on it to earn a living!!

It may seem harsh, but if they need it to earn a living, they should be paying for it (plus if they are earning a living, then it's tax deductible, surely?)

Welcome to DFW, and good luck - sounds like you've got your own head screwed on - just a case of how to tell the rest of the household. Maybe removing the skybox would be a good notice for them? :rotfl:

S._Tony_B.

Thanks Fairylights,
What I'm up against is if I do remove the skybox, I would not have support from my OH. Tends to cave in when the kids kick off. So I end up being the unreasonable one.Also the oldest uses it along with broadband to make money on sports events. So I'd be accused of interfering with his work!!!
Maybe now you can also see why he doesn't pay tax.

You just couldn't make it up could you LOL

S._Tony_B.

By the way Fairyl.

I think you've done fantastically well with your debt . Very impressive. :A

dottyanne

Hi S. Tony B. Im a relative newbie too, and I fully understand the point about irregular earnins, OH gets a wage (albeit small ) from my business but I cant take anything some weeks and the am ok others - when its not just a case of whats coming in (when you really dont know) it can be hard to get the formula right - I too am still trying to work through this myself at the moment??

Good Luck!! I think most of us need it too!

D&DD

S._Tony_B. wrote:

What I'm up against is if I do remove the skybox, I would not have support from my OH. Tends to cave in when the kids kick off. So I end up being the unreasonable one.Also the oldest uses it along with broadband to make money on sports events. So I'd be accused of interfering with his work!!!
Maybe now you can also see why he doesn't pay tax.

You just couldn't make it up could you LOL

Hi STB welcome to the DFW's
I have the same problem re sky and OH so I know what you mean :rolleyes:
I would say though if the eldest makes money on the betting would it not be fair to ask(rather firmly :rotfl: ) for a contribution towards its cost ? In effect you are paying the fees for him to earn his money he should pay it himself

ms_london

What would they rather have? Food on the table or Sky/Broadband? I think that you need to cover necessities first, a roof over your head, heating, food, water, gas, elec etc - Sky & Broadband are definately considered a luxury!! Sure, the children will moan - but why let them control your household? I'm only 25, but all we had in "my day" was 4 channels and teletext - and even that was restricted!! Could you post a SOA detailing your household income/outgoings & your debts - perhaps there is a way of saving without realising it.xx

S._Tony_B.

Thanks for all your replies,
I thank you for your posts, sadly nothing is ever straightforward is it

Ms_london
My oldest is very nearly as old as you(24) no longer a child. Sorry I know I said 'kids'.


D&DD
To be fair he does pay a small amount every week, but the whole family use broadband a lot so I can't really single him out except for the fact that he uses it to earn a living.