My horrible SOA

RAS

Hi

Do you need, absolutely NEED two cars?

Verbatim

I'd echo the advice you've had already,. If you can't move can you have a lodger. Extra jobs? Sounds like you're a teacher so tutoring as previously suggested could bring in a fair bit. Start a spending diary to record everything you buy and aim for some no spend days. Again as RAS has said once you've got rid of the payday loans you'll have some free cash to hit the next debt.
Can you do a menu plan based on what you have in the cupboards and freezer to last you until your next payday? Be inventive and aim to buy only what you really need on top of what you already have to make these meals. Plan your money down to every penny so that you can get rid of the worst of these debts asap.

But you've made a start and things will soon improve .

MyopicMoo

Thanks for the advice. OH used to earn about £1500-2000 more a month but it was comission so as the financial world collapsed so did his salary!

We have had both cars for about a year and a half. We could just about manage with one but it would be very difficult. I think at the moment it could be difficult to hand one back financially. To be honest this is my last ditch plan if OH is made redundant - which is a possibility (but hopefully won't happen).

The 3 mobiles - one is for OH's mum, we pay the bill. I will talk to OH about this but he wants to help his mum out and she has been very unwell in recent years. All 3 are on contract. I will see if I can reduce mine but OH uses his for incoming business calls and conference calls - I'll ask if it can be reduced.

As we rent we are not allowed to sublet. We are in an 18 month contract but may be able to get out sooner as the landlord is thinking of selling. The only issue would be getting the deposit together as we would not get ours back until we move out.

MyopicMoo

I am planning to set up a self-administered DMP but need to get all my info together first.

I had thought about tutoring but realistically I won't have time, that is why I thought taking on extra responsibilities might be a better idea (and I won't have to fuss with tax).

I am going to start meal planning and am quite good a stretching food when I put my mind to it. I watched Economy Gastronomy last night, although even I was shocked at the budget, and am determined to have an organised food and grocery plan.

Sky is going to be an issue! I have suggested several times to OH that it needs to be cut down but he refuses. Hopefully he will try to reduce the amount we pay but I can't cancel it as it is not in my name. To be honest it is our main form of entertainment.

geranium72

With the payment to wonga - are you not going to just pay that once - or are you saying you have to pay that every month>?Surely once it is paid - then it is gone - or am I being dim here. That would make a big difference to what you have available wouldn't it? Or am I missing something? Having 500+ less to pay out every month makes a huge difference

Annie021063

If you are a teacher then try tutoring. It really is a well paid job which can be done with little outlay except your time. It has got me out of a sticky situation. Good luck. BTW how did you get into the exam marking, I would love to do that.

MyopicMoo

Hi,

Thanks for your advice, I really do appreciate it. I feel rather overwhelmed at the moment as there is just so much to take in at once.

Annie, I applied to be a marker through the AQA website. There is a form to complete and they contact your references to check you know what you are doing. I'm sticking to A-level as there tend to be fewer scripts and I think it is important to balance what you can earn with what you can realistically do - the turnaround times can be really tight.

Geranium - yes, Wonga is a one off, but usually it leaves us short so we end up taking it out again - we just need to get a little bit ahead to clear it for good.

MyopicMoo

Right, money making - I have started listing things on ebay finally, even if it doesn't bring in much it will be something. I have declared war on welcome and will be claiming back all the PPI payments on my loan and OH's loan.

I think OH is beginning to come round to my way of thinking, but it is really hard. He won't accept how bad the situation could very easily become (not that it isn't bad already ).

I am going to tackle the grocery bill first as I think it is something I can bring down quite a bit, so, once I have had a look on the Old Style thread I will start planning our meals for a week and go from there. I think with a bit of effort I can bring it down to about £200 a month (possibly lower).

I have had a look at car insurance and reckon we can get it a fair bit cheaper - would it be worth changing mid-year or wait until we have 5 years NCB?

MyopicMoo

OK. Tasks for tomorrow:

• Write and post ppi letters
• Phone mobile company and see if they will reduce my tariff
• Meal plan for the next 3 weeks
• Make a giant batch of mince and divide into 6 - freeze 5
• Shop for essentials ONLY
• Work out new improved budget
• Find 5 more items to put on ebay

I'm sure there is more but I will have to think about it.

theoretica

Usually it is a good idea to work out a budget that you can stick to long term, but with the Wonga loan planning to get rid of this in the short term would probably be worth it. A month or two of total frugality, eating everything in the cupboard/freezer and only buying the minimum you have to would probably make a big difference.