can't make ends meet

mrshardy73

Hi we have 3 kids and only one wage coming in but we do have child benefit and tax credits coming in , the thing is we seem to be living on an overdraft (£2000) its just built up over time we don't live a lavish lifestyle only have cheep holidays and occaisional nights out and we always shop at cheep budget type shops so we can save money but how do we get out of overdraft? we do have a car and a morgage. i keep dreaming of the day when our bank balance is in credit is there a way?

JAMIEDODGER

welcome to DFW!!!!! the first step is to post you SOA, incommings outgoings including any debts, apr's minimum payments and outstanding balance, we can help you better if you post this. JD xx

Lewby

Hi and also welcome! I know exactly what you mean about the realisation that you are living off an overdraft. Dodger is right about the SOA but keeping a spending diary is also a brilliant way of keeping an eye on exactly what you have spent your money on, you soon realise how much you spend that you didn't 'need' to and your overdraft will soon start to reduce.

The 'What have you spent today' threads are great and there will be lots of more experienced DFW's on here later who will give you some great advice. The best thing is that you have found this site. It's great for support on any money issue, especially 'debt' and someone will always tell you what they think. It's not always what you want to hear but it's good advice from people who are or have been in your position. So WELCOME :j

mrshardy73

sorry to appear thick! im new to this site but what does a SOA mean?

$17mma

It means State of Affairs

List ALL outgoings and rates and incomings. And don't forget to list any savings you may have.