Help me

euronorris

little_miss_T wrote: »

i know, and i keep telling him that, but i do understand what he says, we have so much stress in our lives and so much bad stuff going on that the car is the only bit of luxury we have. and i think we would go stir crazy if we had nothing nice at all in our lives.

But......isn't the cost of the car stressing you out more? Not to mention that you cannot afford to get out of the payday loan cycle whilst still paying extra for this car!

If anything, this car is causing you a lot more problems than it is solving.

There are plenty of cheap/free things you can do together and/or with friends to de-stress and trust me, once you start to see things coming back under your control, you'll feel a lot better for it and start to wonder 'why didn't we do this sooner?'.

I believe there is also an entire board dedicated to cheap days out etc so it's worth a look!

RAS

little_miss_T wrote: »

i looked on the website of my local credit union and it looks like i have to pay into it to get anything out of it is that the case?

Some of them do freedom loans, which require you to pay a much higher rate (over 2% per month in stead of 1%) to help people get away from payday loans or prevent disconnection. You do not need to have prior savings but you have to agree to save a small amount in each month. It would still be cheaper. You would be very lucky to get more than £200 on that basis though, if they will do it.

Once you have a savings history, they lend 3 times your savings at the lower rate.

I suggest you visit them and see what they say.

euronorris

little_miss_T wrote: »

does anyone know of where i can get a loan with bad credit wothout having to pay admin fees?

I don't think anyone on here is going to recommend that you get a loan to sort your finances out.

Consolidation loans often end up costing FAR more in the long run as you are paying them back over a longer term and if some of your debt is on CC's etc then the temptation to spend, spend, spend is too great and you'll be much worse off than you are now. Also, with bad credit, the interest applied will be extortionate!

I could be wrong here, but perhaps a crisis loan could be a solution to the payday loan cycle. Have a look here: http://www.jobcentreplus.gov.uk/JCP/Customers/WorkingAgeBenefits/Dev_013949.xml.html

I'm no expert on the above though, so if anyone has better words of wisdom, so be it.

RAS

euronorris wrote: »

There are plenty of cheap/free things you can do together and/or with friends to de-stress and trust me, once you start to see things coming back under your control, you'll feel a lot better for it and start to wonder 'why didn't we do this sooner?'.

Yep, needs a little imagination and some "babyoil", although i suggest you do that together.

Any outdoors space? have a little barbie with friends - cheap chicken wings, burgers and sausages and they bring the beer.

Go to the park and play frisbee?

Snuggle up under blankets and watch horror movies or old comedies?

little_miss_T

thanks thats really helpful.

euronorris

RAS wrote: »

Snuggle up under blankets and watch horror movies or old comedies?

My favourite!

Although, it is also why I am so bloody tired today. Must get to sleep before 1am tonight! lol

But, Forgetting Sarah Marshall was a lot funnier than I expected. Cringeworthy, but amusing.

Tixy

little_miss_T wrote: »

i would also like to know, my husband has an overdraft on his account, which he cant get rid of because it is taken out of his wages then put back in as overdraft. how would we go about reducing that bit by bit as and when we can?

I'd suggest opening a new basic account and moving his income and dds all to the new account, choose one that has a debit card from the list on the link I gave you on the first page (some only have a cashcard).
Then you can cut up the cards for the overdraft and treat it like a 'normal' debt, by which you set up a standing order so that you pay off a small amount each week.

Good luck with trying to quit smoking - it won't be easy but its worth it both financially and in terms of your health. You can get free help with quitting from the NHS.

Katie-Kat-Kins

Ok you need to get your OH on board so he is with you. Lay all the information out so he can see it. There is lots that you can do to tackle this but you need him to help.

1. Cancel the sky and use your dish to get freesat, you still get loads of channels so you won't miss it.
2. Reduce your mobile tarriffs and make sure you never exceed your inclusive minutes and texts. As soon as you are out of contract go PAYG.
3. Compare switch and save on all utilities and insurances. You can switch insurance even if you are not at renewal.
4. Sort out what the deal is with the car. The whole thing sounds weird if you ask me, you have an expensive car on HP, £15k worth, which is not necessary for a young couple. But it has cost you nearly £2000 in repairs..... A new car should not need this kind of work and if it is it should be under warrenty. A car of that value will be expensive to run and insure and tax so do investigate what the penalties would be if you returned it early. It would be more cost effective to have a small cheap run around, a yaris or KA or similar bought second hand could be insured for much less and would use less fuel. You can get a very good second hand car for £1k.
5. Realise that with payday loans you are skint and can't afford luxuries.
6. Realise that smoking an an expensive luxury that you can't afford. You already have too many of these. The only thing preventing you from ditching this stupidly expensive habit is will power. You are not in contract like so many other things. Go to your GP and making quitting a priority - no excuses.
7. Keep a spending diary, note every penny in it, every time you spend something ask yourself whether you really need what you are about to buy or whether getting free of the payday loans would be better.
8. Visit the old style boards to learn what living fugally really means. Read Weezles thread and the cutting down on electricty one. You don't have to be quite as extreme as some of these people but realise what is possible and how careless you have been with money to get to this stage.
9. Both you and OH should get a basic bank account for your salaries that are not connected to your debts and then treat your overdrafts as additional debts to get rid.
10. Work out if you can get to work without that expensive bus, can't you walk or cycle? You could get a basic bike on freecycle or out of the classifieds. Or get OH to drop you, if you have to be at work early then so be it, he may as well give you some benefit from that flash car he is whizzing round in that is causing you so much stress.

That should get you started.

little_miss_T

thanks for all your advise. i will get him to have a look at this when i get home. xx

Katie-Kat-Kins

Let us know how you get on! x x