running out of money...please help!

poppy_f1

if it was me i'd
stop the christmas and birthday presents (dunno how the 13 family members works out but if some are adults then stop giving to them at least)
stop the investments for the time being, you may as well throw this cash at your debt then when your a bit more flush you can invest more
are the weekend breaks/holidays absolutely necessary, i know its a bummer if you have to give up these but they cost (i never went on holiday for 7 years because of debts but im looking forward to my next one even more)

how old are the kids, anything you can sell on ebay or car boot sales

in_my_wellies

The birthdays and Christmas seem high to me - perhaps we're just mean in our family.

cost of christmas - £57.92 (2 children plus 13 family members)
cost of birthdays - £37.50 as above

Is this really every month?

On a limited budget mine would be 13 x £10 plus 2 x £30 = £190 per year therefore £15.83 per month.

Tracey04

Thanks for the ideas from everyone. Just to make a few things clearer. Like most of you these were figures (in luxury list) from when I was a two parent family, and I guess I think that the only one treat I have a year is to go on a foreign holiday. I understand that it will have to stop, but it really is the one luxury I have every year that makes all the work etc worth it. Maybe I look at this wrong???

What are these cheaper holiday options. I thought £9.50 holidays had to be used in term times only. Carn't take children out off school in term time and Im training to be a Teaching Assistant so I suppose that's not good practice.

Policies have been talked about abit - I have had some of these for years ( when I worked full time), it was my way of saving for retirement etc before pensions set off in a big way. Would really like to carry these on if I can.

will check other suppliers, what if I have agreed to fixed rates etc from British gas, Powergen.

Clothes and hair = pure luxury

Christmas and Birthdays - do you really say no presents?

Church I used to pay £1.60 a week in collection Mum said cut it down to 90p. Charity begins at home (but I think i put the least in, in the whole of the church)

Will ask mum to reduce car loan but I still have £5000 to pay so that will take 8 or 9 years to pay off.

Petrol is needed. The childrens school is 4 miles either way. Mum looks after children whilst I work, thats a 10 mile round trip. Only use it for shopping.


I have never had bank charges, overdraft, or loans, and I don't expect to now so any help or guidance please feel free to give. Thanks again Tracey

Tracey04

Thanks for the ideas from everyone. Just to make a few things clearer. Like most of you these were figures (in luxury list) from when I was a two parent family, and I guess I think that the only one treat I have a year is to go on a foreign holiday. I understand that it will have to stop, but it really is the one luxury I have every year that makes all the work etc worth it. Maybe I look at this wrong???

What are these cheaper holiday options. I thought £9.50 holidays had to be used in term times only. Carn't take children out off school in term time and Im training to be a Teaching Assistant so I suppose that's not good practice.

Policies have been talked about abit - I have had some of these for years ( when I worked full time), it was my way of saving for retirement etc before pensions set off in a big way. Would really like to carry these on if I can.

will check other suppliers, what if I have agreed to fixed rates etc from British gas, Powergen.

Clothes and hair = pure luxury

Christmas and Birthdays - do you really say no presents?

Church I used to pay £1.60 a week in collection Mum said cut it down to 90p. Charity begins at home (but I think i put the least in, in the whole of the church)

Will ask mum to reduce car loan but I still have £5000 to pay so that will take 8 or 9 years to pay off.

Petrol is needed. The childrens school is 4 miles either way. Mum looks after children whilst I work, thats a 10 mile round trip. Only use it for shopping.


I have never had bank charges, overdraft, or loans, and I don't expect to now so any help or guidance please feel free to give. Thanks again Tracey

poppy_f1

who exactly are all the presents for?

elantan

if you buy the sun news paper they have vouchers for holidays and you should know that yes you can take the kids out of school 10 days per year with the permission of the school ..i'm planning on going to college this year so i will be taking them either way ..my son will be in 4th year though so i will have to think carefully of when i can take him out ..i think if you do cut out down on the things people have suggested and keep a spend diary youwill soon see where things are that you can cut down...good luck all the best with your endevours

Mrs_Arkwright

The £9.50 hols can be in the school hols, we're going on one to Cornwall in October half term - all in it's costing £58 for the week, plus spending money. We also went to a Haven park in June (which was in term time, and before my lightbulb moment!) which was more at £250 plus spending money, but nowhere near two grand. And the kids have just as much fun - in fact my young'un said this year's holiday was the best she'd ever had, bless her. It can be done, and if you want to get those debts down, sadly sacrifices have to be made:o Not much fun I know, but in the long run it will be worth it.

Give Haven a ring, I've booked next year's with them over the phone (Cornwall again) and I got it half the price that was in the brochure (which was probably a clever marketing trick by them, but I was happy:D )

gt94sss2

I also suggest you post on the Dealing for Debt board and have a look at the Living Below your Means Board over at the Motley Fool

Regards
Sunil

in_my_wellies

Good Luck!

hope_strong

Hi Tracey

Like others I'm wondering about the savings .. ie... could any cash you have there go towards a brief but glamorous holiday when your cash situation had been money-saved by the heroes on this forum? And I agree with others' comments above: a cheapie holiday, even with 2 kids, to the Canaries, Spain etc can be very, very cheap indeed.

I know exactly what you mean, sometimes the idea of a holiday/other treat can be the only thing that keeps you going when everything else is sh**te.

Alternatively, seek out free-to-enter contests and vouchers for health spas, pamper days etc - I found even a three-quid tanning session gave me a few minutes of closed-eyes and warm 'sun' ...

I think you have to dream otherwise you'd drive yourself mad.

-Hope