A fresh start

Seaxwyn

Hi Chev. Hope your son is fully recovered and noone else caught it.

October update time. Today's debt total is £11,724.33, which is £221 MORE than last month.

I've all but run out of freelance work. I've got one day booked this week but it's a low paying one. My current income from all sources is £1200 and my monthly outgoings are about £3000. So it's not a good picture. I really seriously need to get more work.

This month I will pay the final payment on my Sainsbury's loan - the last of 84. This loan has been a big burden for seven years and losing it will be a great relief. I just wish I were a teeny bit more solvent though.

Verbatim

Sorry to hear that work isn't flowing in as you'd hoped but good news to get rid of the loan. Will that bring down the £3k outgoings or is that the new figure after the loan is gone?

beanielou

Bah to little work but good news on the loan.

Seaxwyn

The loan ending will bring the £3k down to £2,600. And frugality will bring it down a little as well - there have been a lot of extras this year on school trips and expenses, holiday, etc.

However no amount of penny-pinching is going to make up a £1400 deficit so I really need to find more work!

Another thing that worries me is that in January I have to pay out £3187 in tax and university accommodation costs. So not only do I need to make up my deficit, in three months I need to find an extra £3k!

chevalier

I take it no one else will be contributing to the household, and thus easing your burdens?

Not sure what to suggest really. Can you get a grant towards the university costs?
chev

Seaxwyn

I've just paid my last loan payment. This is a day I have looked forward to for years, and hardly believed would come. I've been paying £400 a month for seven years and it has felt a huge burden. And it's gone!

I don't feel as jubilant as you'd think because my overdraft is creeping up. In fact I have two and they are together more than £2000. My income is much lower than my outgoings so unless something changes this will only get worse.

There is so much family stuff going on that I really can't focus on finding work. I'm in the middle of selling Dad's house, dealing with the sensitivities of sharing the work and the booty between my four siblings, and dealing with ongoing stress with OH (which I won't discuss here).

Still - the loan is gone, so a small celebration is in order.

beanielou

Good news on the loan.
Bah to rest.
Try to take care of you.

taxi73

good news on the loan

chevalier

Sorry to hear that you aren't elated about paying off the loan. That is a hefty amount of change not to have to find each month. At least now your outgoings will be a bit less, even if you still can't balance the books.

On the other hand. Having less work probably means you can do a better job of sorting out your dads place, which is good for him and for your siblings.


Is it worth going back into paid employment again, if you don't have the energy for following up self employed work?
chev

ZTD

Seaxwyn wrote: »

I've just paid my last loan payment. This is a day I have looked forward to for years, and hardly believed would come. I've been paying £400 a month for seven years and it has felt a huge burden. And it's gone!

:T

Seaxwyn wrote: »

I don't feel as jubilant as you'd think because my overdraft is creeping up. In fact I have two and they are together more than £2000. My income is much lower than my outgoings so unless something changes this will only get worse.

All the more reason to celebrate your triumphs - not less of a reason.

Seaxwyn wrote: »

There is so much family stuff going on that I really can't focus on finding work. I'm in the middle of selling Dad's house, dealing with the sensitivities of sharing the work and the booty between my four siblings, and dealing with ongoing stress with OH (which I won't discuss here).

Still - the loan is gone, so a small celebration is in order.

A big one. Pat yourself on the back because you have made it to the end.

:grouphug: