Help - what do i do when my incomings won't cover my outgoings?

Woodsylou

Hi

I have a problem. this month i didn't bring home as much money as usual and im short to pay all my bills. not excessively short, but short none the less.

what do i do? i don't want to default or get into arrears, i am trying to rebuild my credit rating.

i don't know what to do!

i appreciate any advice

x

Lokolo

When are the bills due? And do you have money at the moment that will cover them?

Woodsylou

they were due, i didn't realise i didn't have enough, and they've bounced back. so now im getting charged left right and centre.

there's a couple

my phone bill (about £45) my H&C insurance (£18.95) and my Credit Card (£100)

i don't know what to do.

mramra

If it's only a short-term problem i.e. normally you can cover your outgoings, can you borrow from a family member or friend? Or ask your bank for an overdraft facility (or extend any current facility)?

Woodsylou

yeah i could, but that would mean next month i'd have even more to pay off, you know?

i need to 'earn/make' money rather than borrow i think. i don't really have any thing of value to sell on ebay, i don't think. and i have been looking for part time evening/weekend work and there is nothing out there.

i feel sick

Inactive

Woodsylou wrote: »

yeah i could, but that would mean next month i'd have even more to pay off, you know?

i need to 'earn/make' money rather than borrow i think. i don't really have any thing of value to sell on ebay, i don't think. and i have been looking for part time evening/weekend work and there is nothing out there.

i feel sick

The simple harsh truth is you are spending more than you earn, only cure is to decrease spending or increase earnings, there really is no alternative.

Lokolo

Woodsylou wrote: »

yeah i could, but that would mean next month i'd have even more to pay off, you know?

i need to 'earn/make' money rather than borrow i think. i don't really have any thing of value to sell on ebay, i don't think. and i have been looking for part time evening/weekend work and there is nothing out there.

i feel sick

Have you done a budget planner or SOA?

http://www.makesenseofcards.com/soacalc.html

If not there you go.

Extant

Are there no outgoings that you can reduce? I.e. eat cheaper food, don't go out for the month, etc.

flutterbyuk25

Can you ebay/amazon anything to make a bit of money? Or do a car boot?

x

anna42hmr

Lokolo wrote: »

Have you done a budget planner or SOA?

http://www.makesenseofcards.com/soacalc.html

If not there you go.

i agree, also a spending diary can really open your eyes as to spending, i have started doing this in the last couple weeks and it really brings it to the front of the mind what you are spending. i use this as really easy to use http://www.spendingdiary.com/main.php

make sure though that you put categories in and you can work out how much is spent on different types over a given period ie bills, food, magazines, petrol, drink, clothes, entertainment, lotto, work collections etc