Sick of being poor

lifeonhold

I am looking for some ideas. I am 41 years old, single with one 9year old daughter who lives with me. I have £20k worth of debt. I have no mortgage or assets, except for a car worth about £1K, and no pension.

My only income is from my job where I work in the public sector and get £30k. I just about scrape by every month on my wage but it usually tight. I get no financial help from my daughter's mother and don’t have wealthy relatives or siblings.

The problem is this.......I am sick & tired of being poor. All my life I have worked and earned an honest living and look where it has got me......nowhere! The problems I have in my life are usually ‘lack of money’ related and I am sick of it all.

I want to make money, pay off my debts and not have to worry about money anymore. I want to get myself into a financially stable position and make it last. I don’t want to be a millionaire just no debts and stable. I want to provide for my daughter so she can go to university and give her the best start in life. I want savings and I definitely don’t want to be poor when I am old.

At the moment, I have no idea how I can achieve these things. I am not a business type and have no knowledge of how to make money or where to go to find out. I am prepared to do anything, within my capabilities, to learn and know how to make money.

Does anyone with more knowledge of these kinds of things have any ideas for me? Where do I start?


[FONT=&quot]Thanks.[/FONT][FONT=&quot][/FONT]

lozza1985

Hi I'm sure people will be along shortly with some good suggestions - but I'd definately recommend using cash back sites if you shop online, or for when you change your car insurance etc, me & partner only started using them this year, and can't believe how much money we've "earnt" so far for buying the things we would have done anyway.

Sagaris

Why not put up a statement of affairs of the Debt Free Wannabee board? People on there arte very helpful, and will give you lots of ideas where you can cut down on your bills etc - and try the Old Style board too, for saving money on food and household stuff. It's saved us loads, I didn't think we were wasting money, but seem to be better off after following their ideas.

lifeonhold

[FONT=&quot]I have been on the other boards and looked into debt management and know all the ins & outs of getting the best deals. Even if I went bankrupt I would still be paying out for 5 or 6 years to the courts. I just want to find out how to make money? How to take risks and accumulate wealth…[/FONT]

KimYeovil

£30K per annum and you think you are poor? £30K per annum and you are 'scraping' by? If you are that delusional then it is psychological, not entrepreneurial, help that you require. Contact your GP.

TattyBear

OP, if you have no mortgage, do you rent or do you own your home?

doubleo7

i think that you should seek advice from the citizens advice debt management service and deal with the debt first. If you live in Scotland you can get a trust deed in England it is called an IVA. If you deal with the debt first then at least you will be able to sleep at night. Also if you have been suffering from stress for that long then you should speak to your GP.
I have a friend you who buys some of her kids clothes from ebay. Also meal planning and cooking and freezing batches of food can save money on groceries. Hope this is of some use.

lifeonhold

I Rent.......

Claireabell

I am struggling to know how you are struggling on a 30k wage. I earn half that, and am paying a morgage... yes, I get £100 a month from my daughters father but still less than you...
I am not ciriticising... just wonder if you have a lot of outgoings or something??

Antispam

Ditto I am many others get a lot less than that and I still have a mortgage and family to bring up.

I am careful how I spend my money though and only debt is mortgage.

I just curious how you struggle when you get a lot more than I do

Perhaps OP you ought to learn to budget not saying this in a nasty way but sticking to a budget, not going out often, eating out, taking sandwiches to work saves money quite a bit over the years

Easy said and done I know but dont borrow money and never have a credit card unless you pay it off each month. Dont use store cards also

Claireabell wrote: »

I am struggling to know how you are struggling on a 30k wage. I earn half that, and am paying a morgage... yes, I get £100 a month from my daughters father but still less than you...
I am not ciriticising... just wonder if you have a lot of outgoings or something??

dane-katie

lifeonhold wrote: »

[FONT=&quot]I have been on the other boards and looked into debt management and know all the ins & outs of getting the best deals. Even if I went bankrupt I would still be paying out for 5 or 6 years to the courts. I just want to find out how to make money? How to take risks and accumulate wealth…[/FONT]

An IPA last 3 years.