SOA - Help Needed

darloboy_2

Hi All

Firstly, many thanks for the replies, I wasn't expecting such a great response - everyone has been so helpful :j

I will be canceling the insurance on the credit cards tonight, I guess it doesn't make sense at all to have these as well as income replacement insurance. I considered canceling that also, but I don't have any insurance on my mortgage should I be hit by unemployment. I am a little worried as a few people have put some doubts in my head about how good these policies actually are. I never really checked into them much when I took it out, maybe I should have!!

I will also be knocking down the Sky subscription tomorrow - unfortunately I cannot get out of the contract until November, but in the mean time I will be going down to the £16 per month minumum package.

Thanks for the tip on the 0% c/cs - unfortunately I was turned down by a couple, so I think I may be starting to have an adverse credit rating.

I will try and chop my shopping budget a little - unfortunately I am a Weight Watcher, something which isn't necessariy cheap with food choices. It's the health v money debate, and I think if I don't have health then what use is money, but on generic stuff I will try the cheaper stores for sure. Should be able to chop a bit off this. The food figure does also include making my own lunches at home, which is something i've started to do recently.

I have a 3 bedroom apartment, with a spare bedroom, so I am going to look into the possibilities of renting this room out. I live in a large student town, so I don't anticipate there being too many problems in finding someone, however the thought of opening my home to a stranger is not the nicest one. But I would be prepared to do it, so will pursue this line also. Does anybody have any experience of doing this in a similar situation to myself? Just looking for any tips of caution etc.

Any extra money I have (the unaccounted for £100 a month), is used for a multitude of things, birthday's, car tax, MOT, xmas presents, it works out about right for the year, but I am sure I can squeeze something out of this if I study it a little more carefully.

Am I in a position to go to seek advice, with a view to coming to arrangements with the various companies (certainly Virgin and Egg), or is it worth approaching them direct? Does this approach ever work? What is the impact on credit rating if you go down this line? I imagine it is adverse, but i'm not sure to what extent.

Once again thanks for all the helpful advice, there are so many kind people here.

Craig

beanielou

Best advice re having someone to share is lay down all your ground rules right from the beginning.sit dowm every couple of weeks to iron out any niggles
HTH

brokenwings

Quincifer wrote:

£42 for sky shows you have quite a big package ....

ooh err missus:o
SEE!! even with debt you still have something to be happy about!
:rotfl:
sorry guys - hope it's ok to find it funny even when we are talking about debt issues here.

Craig - i have made such a mess of my finances i would never dare offer anyone else advice. But i can offer you encouragement and say that the information and advice given to me by members of this board has changed my life and saved me from drowning in debts I simply couldnt control beforehand.

Listen, act in whatever way is necessary and you will come through this.

good luck.

In_Search_Of_Me

Agree with all of the above although wouldnt really want to comment on the size of your apparently reducing package!!! Getting a lodger is a great idea...would contact CAB or solicitor though to get advice on contracts as getting someone out can be a nightmare if they turn out to be "unsuitable" so best to be cautious on this one with short term contracts. Good luck & let us know how you get on.

lynzpower

Ive got a lodger in and its financially, such a great move for us. Saying that IM used to housesharing, so it doenst bother me, plus the person who is living here is a mate in anycase. Is all working out very well

calleyw

darloboy wrote:

I will try and chop my shopping budget a little - unfortunately I am a Weight Watcher, something which isn't necessariy cheap with food choices. It's the health v money debate, and I think if I don't have health then what use is money, but on generic stuff I will try the cheaper stores for sure. Should be able to chop a bit off this. The food figure does also include making my own lunches at home, which is something i've started to do recently.

I need to loose weight and my husband needs to gain and we still spend £100 a month. Most days we eat 5 portions of fruit and veg. One portion tends to be fruit juice and a piece of fruit at lunch time. The others come from frozen veg or salad with meals. The amount we spend covers all meals including lunches. We eat fresh/frozen tuna/salmon once a week. As well as whole chickens and joints of beef and pork.

I don't buy any particular special food. I buy semi-skimmed milk and buy the odd treat like a odd packet of biscuits.

I try and buy most of fresh fruit and veg from a greengrocers.

Very rare we buy any ready made items apart from veggie burgers/sausages.


Yours


Calley

domestic_goddess

Nothing major to add here as its all been said I think but shop around for your home and car insurance. Both can def be lowered. Check out companies like barclaycard who guarentee to lower your price or they will match yours and snd you a cheque for fifty quid. I know it will only be a couple of quid cheapr but its better in your pocket.

darloboy_2

Calley - thanks for that, I think I am probably extravagant but will definitely re-evaluate my shopping budget. Think I need to stop buying organic fruit at twice the price also lol.

Will also look at the insurance side of things, both of my policies are up for renewal at the end of July, so not too long to wait on this one.

If anyone can give me advice on my previous post, about approaching the credit card companies and the chances of success etc, and credit rating impact, it would be fantastic. I want to make some headway with them tomorrow if possible!!

Thanks
Craig

calleyw

darloboy wrote:

Calley - thanks for that, I think I am probably extravagant but will definitely re-evaluate my shopping budget. Think I need to stop buying organic fruit at twice the price also lol.

Craig,

Don't stop buying organic if what is what you want and fits in with your ethics. But if you are feeding just one person your bill is rather high.

I only buy organic when it reduced as my budget for 2 people does not that stretch that far.

Do you waste a lot of food. If so get over to the Old style money saving forum loads of ideas of how to cut bills. But meal planning will be your biggest money saving.


All the best.


Yours



Calley

Careful_girl

If I was you I would take everything that everyone has said but be really brutal.
Use Martin's best buy stuff to find yourself all the beat deals.
Don't pay any of those income protection stuff (never seemed to kick in when I had it)
Get rid of the Sky stuff just whilst you get sorted
Be mean with yourself socially - I went through a phase of drinking water(free) when I went out, remember it is only temporary.
Be mean with your shopping and demand those points from your shopping.
I personally don't take the cash as I would have to write down stuff (too lazy) I like to be able to see everything on my cashback creditcard statement. Then I cannot miss stuff. Also it means I can say to myself can't buy that -haven't any cash. When the statement comes you can be proud or try harder next month.
I had a lodger. I had a student who went home for many weekends and holidays but paid all the time. we had clear guidelines and had an ace laugh. I had a weeks notice period for if either of us wanted to change the situation. I also advertised for nothing in the student accomodation office.
Don't get a consolidation loan just pay off as much as possible.
Jogging is free!
extra jobs always mean no spending only making money-work in the pub!!!
Good luck.;)