A struggling man.

tesuhoha

We didnt start buying until we were over 30 and we started off with a small flat. It is important however that you clear the debt first. I know that you are paying for schooling now but please dont be tempted to pay for private school for your boy. I have paid for my kids all the way through and now we are still struggling. If we had not sent them to private schools we would be rich by now. Have you researched to see if you can get any cheaper childcare? I am out of touch but that seems like a lot of money each month, almost as bad as the school fees we have been paying. We earn quite a bit more than you and it is still a terrible burden. No wonder you are broke.

all_hours

Geespot wrote:

Not entitled to tax credits this year. They have written to me. Get abotu £120 a month for both kids for Child benefit

Take a look at http://www.entitledto.co.uk. Unless you've been overpaid on previous years it looks like you should get something, they could have made a mistake.

PIppa

Geespot wrote:

Phone is so high because we are paying back a couple of months where we missed it. Its normally £45 and includes broadband.

My son is 2 and he goes to pre-school which is £62.50 per month. ANd it has been great for him.

None of the above includes food or my travelling expenses to work. I normally blag it.

Geespot

I believe that Talk Talk are doing a package that covers line rental, all calls to UK landlines (excluding 0870 and 0845 numbers I think), some international landline calls and broadband for £21 per month. Could this be an option for you?

If you don't call mobile numbers from your landline this will make it cheaper. I get free cross network minutes with my mobile contract each month so make any mobile calls this way. I limit myself to the minutes provided.

Hope that helps.

Ivrytwr3

Geespot, you say that you want your own home, but yet you pay someone elses mortgage to the tune of £595!!

I own a property which i let and the mortgage is only £480. Obviously dependant on your area, but why pay someone elses mortgage, when you could no doubt afford your own? Even if you downsize at leat you have your own home and putting money into your own bricks and mortar as oppose to someone elses.

That £480 mortgage is on a property purchased at £92k in Jan 06, now worth £115k.

pineapple_beach

Hi there

Sounds like it is hard-going for you each month, and most of us on this board either are there too or have been to a greater or lesser extent.

Family life is really important and I can understand you wanting to do your best for your kids... there is some really good advice on these chat forums, but the basics are to spend less each month when and wherever you can, (use a spending diary to check exactly where each pound goes), and to try to earn more... (ebay or amazon, car boot sales etc...) Look around you at home to see what you no longer need/like, particularly things the kids have grown out of/don't play with, and try to sell them. Any money raised can be put to good use I am sure... Other ideas would be a part time job as well, maybe at a local supermarket (maybe a discount available?), babysitting or as already mentioned asking for more flexible hours from your employer, so you can cut down on your childminder's bill.

Every little thing you do to earn more or spend less really does count. Good luck and let us know how you get on...
pineapple_beach

Willsnarf1983

Whilst i try to be delicate there doesn't seem to be alot of give with you, i mean u have done the little things that save u a bit of money but the biggest thing u flat refusing to.

Get rid of the childminder, ur 25k in debt, ur not gonna get that house in the next 5 years realistically are u so one of u may as well stay at home, enjoy the kids growing up and work some nights a week, which will actually make u better of in the long run!

even if its just the extra £140 amonth that someone mentioned above thats £1200 a year and over five years thats about 25% of ur total debt that u will be paying of EXTRA compared to now!

Will

beanielou

hi, & welcome to MSE
Also have to say think your childcare makes my eyes water!!
Do think you need to look at other options either workwise or in childcare

nadnad

Geespot wrote:

Other things to note.

I could stay at home and look after the children for roughly the same money with an evening job.

However, I have a good career ahead of me that I do not want to stop working on. Also for my partner and I to get a mortgage we need 2 solid incomes which is what we are working on. If I give up work I lose my uni course and a good career. My money will go up quite nicely in about 3 years time.

the childminder is whats killing you - what age are your kids? how long does the childminder have them each week?

basically your options are:-
keep going as you are and wait the 3 years until your career takes off
get an extra job
quit your job and look after kids until they are at school and then your childcare costs will come down.