new MSE need help and advice please!!!

kirakara1

ok hi guys im looking for some advice ive put myself into a bad position with my bills etc and i need a solution, heres a soa anything would be very welcome i know its not as bad as some but im feeling trapped now so please help

adults in household - 2
children - 0
cars - 0
INCOME
my monthly income - 1000
partners income - 0
benefits - 0
other income - payday advance - 400 TOTAL INCOME - 1400

OUTGOINGS
rent - 400
council tax - 90
electricity - 50
gas - 50
water - 50
payday advance - 482
landline phone - 25
mobile phone -10
tv licence - 25
internet - 25
groceries - 250
clothing - 0
travel costs - 50
medical - 0
pets - 3 cats, cost inc in groceries
insurance - 0
presents - 20
hair - 0
entertainment - 0
holidays - 0
emergency fund - daddy TOTAL OUTGOINGS - 1527

OUTSTANDING DEBTS
littlewoods - 306.55
council tax - 754.24
water - 447.80 (THIS IS A CCJ)
gas - 50
tv licence - 142.50 TOTAL DEBT - 1701.09


SUMMARY

INCOME - £1400
OUTGOINGS - £1527

£127 IN THE RED

NOT INCLUDING DEBTS - £1701.09

what do i do??
Im 20yr old and totally wasnt expecting this very unhappy

looktothefuture

Hi and welcome!

Firstly, thanks for posting your income and expenditure, but just in case you've missed anything, try this link for a full Statement of Affairs.

Once you've posted your SOA, there will be a few comments from other members who can impartially have a look and see where you can cut down on some things. In the mean time, I'll make some comments on what you have posted.

You can do this, it's hard and sometimes feels as though it is never ending but it's well worth it in the end!

looktothefuture

adults in household - 2
children - 0
cars - 0
INCOME
my monthly income - 1000
partners income - 0
benefits - 0
other income - payday advance - 400 TOTAL INCOME - 1400 (Pay Day Loans aren't an income!)

OUTGOINGS
rent - 400
council tax - 90
electricity - 50
gas - 50 (Does this payment include the arrears as below?)
water - 50 (Does this payment include the arrears as below?)
payday advance - 482 (Try stop using Pay Day loans, they only help for a little bit and then you are back to where you started. Start trying to pay this off!)
landline phone - 25
mobile phone -10
tv licence - 25 (A month? Monthly it's £11.66 - But looking at your debts, you could be adding in the arrears here)
internet - 25 (Could you combine your landline and internet with one supplier?)
groceries - 250 (Try the "drop a brand" challenge, pop over the the Old Style Money Saving Board for hints and tips on how to cut down without cutting out...)
clothing - 0
travel costs - 50
medical - 0
pets - 3 cats, cost inc in groceries
insurance - 0
presents - 20
hair - 0
entertainment - 0
holidays - 0
emergency fund - daddy TOTAL OUTGOINGS - 1527

OUTSTANDING DEBTS
littlewoods - 306.55
council tax - 754.24
water - 447.80 (THIS IS A CCJ)
gas - 50
tv licence - 142.50 TOTAL DEBT - 1701.09


SUMMARY

INCOME - £1400
OUTGOINGS - £1527

£127 IN THE RED

NOT INCLUDING DEBTS - £1701.09

katsu

Hi. Good luck with improving your situation.

You have two adults with only one income - is that right?

Are your monthly payments for gas and water including arears?

Do you have a water meter?

Have you used comparison sites to check you are getting the best price for gas and electric?

katsu

Do you have a credit union in your town? They might be able to make you a loan to pay off the payday advance. You could then repay them at less than the £82 interest you appear to be paying to payday each month.

the_cat

kirakara1 wrote: »

emergency fund - daddy

Is there any chance that your dad could pay off the payday loan and then you could start paying him back. If you leave this payday loan running you are in great danger of an extortionate, spiraling debt

Tixy

Hi Kira

Glad you've come here for advice. Obviously you are aware you are spending much more than you have coming in and that this is not sustainable. Additionally most of your creditors are priority debts.

It looks like you need to increase your income somehow - who is the other adult in the house? Can they get a job or claim benefits. If they are on jobseekers you should include that in your budget and then look to see if there are any other benefits they can claim. Could you get a second part time job?

So because of the severity of your position you need to be really brutal with cutting your costs.

Elec looks high if you don't have any arrears, have you tried reducing your usage of energy hungry items and switching off everything not in use at the plug?
Do the gas payments and water payments include the arrears? Are you on a water meter?
You can definatley get landline & internet for less than £50 per month, if you buy from one provider you should be able to get both for £30. Shop around for a better deal.

Groceries can definatley be cut to around £150 for 2 (even with cats), try dropping to basic brands, cooking from scratch and shopping around for the best prices.

Your council tax arrears are priority, are you paying towards them each month? What is the situation with the CCJ on the water - are you paying a monthly repayment?

Do you have any items that you could sell to raise funds to pay off these priority debts?
Unless you or the other adult can significantly increase your income then I'd suggest you are in debt crisis and need to speak to one of the organisations immediatley http://www.moneysavingexpert.com/loans/debt-help-plan#help and if you haven't already read this article http://www.moneysavingexpert.com/loans/debt-help-plan#dc