Help from anyone thats been here

Smallfries

Hi All,

Sorry if i am posting in wrong place,

basically me and GF have a baby coming in 5 months, we dont live together and it was a complete shock shall we say. anyway, it has hit me that time is running out and we are very low on funds, has anyone any ideas what i can do to make a bit of extra cash in my spare time, i work full time and my job conditions state i cant work another job i.e. in a pub, dunno why this is,

if anyone can help with ideas or just any advice really if we will be entitled to something i dont know about. due to my GFs bad credit we cant get a mortgage so thats another downer for me. we both earn 18k but have debts so we need this extra cash really.

again, any help i would be forever in your debt

Fries

The_Big_H

Hi.
I've got five children and only earn an average salary, about 23k. My wife only works part time, earns about 3k tops.
We have debts too, which we are fully responsible for.

Before looking to find extra money from outside sources, have you first made sure you have done enough financial 'housekeeping' of your own to make sure you are controlling your outgoings properly?

It sounds a tad patronising I know, but this works wonders.

Open an excel spreadsheet, dates across the top and ALL your outgoings down the left. Make sure you start with your current bank balance and then slot all your outgoings into the dates you know they go out of the bank, and also include any income on the dates you receive it. Make sure the bank balance runs along the top each day, taking off all the days outgoings and adding on all the days income.
What you have is a large table showing your precise bank balance on any given day going forward over the next month. MAke sure you include EVERY cash withdrawal, every cheque written, every card debit payment. When you go out and buy something, keep the receipt and every day enter it onto your spreadsheet.

What this does is show you where the potential sticking points are in the next month, so you will then know in advance if you can afford to buy the things you want.
It's an essential discipline and it makes you think twice before buying ANYTHING.
When you get your next bank statement you can then go through the previous month and tick everything off. This ensures you spot anything dodgy going on too - always useful.

So, while this may not help much, I'd definitely recommend doing this as it has saved me on many occasions. It helps you keep a tight lid on essential spending like grocery shopping - make a budget you know you can afford and DO NOT go over it.

Treat your personal finances like a business, and you're the cost manager. If you need something for the baby, look for an item of spending you can cut accordingly to ensure you can buy it and still pay the bills.

Hope this helps someone, even just a little.

I'm not going to put the link of here for obvious reasons, but I run a free money saving tips newsletter so I know this discipline works and is something I like to push. PM me for details if you are interested in signing up.

The Big H.

Peter_Pan

Hi and congratulations smallfries, everything suddenly feels a lot more serious when a little one is in the way doesn't it?
Does your girfriend at the moment? I would review what you are spending now as The Big H has said and see if theres room for improvement there. Have you put your names down on the council housing list if you intend to live together.
Will the grandparents help out buying things the baby will need, most grandparents want to do their bit to welcome their new arrival and i know its nice to get new bits for the baby especially if its your first but you can pick up some great items on your local freecycle , at Boot sales and in Charity Shops. Babies grow up quickly and looking back i wish i had saved money and not spent money on brand new items.
Hope that helps, i'm sure others will have more suggestions Good Luck.

Peter_Pan

oops it should read does your grilfriend work at the moment? sorry:o

Smallfries

yeah grandparents are doing what they can, GFs mum is on benefits so cant do loads but its helping where she can. already wrote a list down of everything we will need and GF has gone through and marked what she would be happy with second hand so i can get cracking on the ebay and charity shop search. names down on council list but its a long wait apparently. GF does work at min but matertity will kick in Nov so need to get saving. scary stuff!

Thanks Big H, big help, will PM now

Sweetpea32

Congratulations! We had a baby last October. She was planned, so we knew what we had let ourselves in for, but I just wanted to say that we bought most of our things from Car boot sales and Ebay, especially the matching nursery items and pram (Ebay) and got loads of clothes from Ebay and car boot sales - nearly all branded stuff like Next, Mini Mode, Ladybird etc and it all looks brand new. No one would ever know they were second hand and cost 50p instead of £5. We saved a fortune and for the amount of time that babies are in clothes it is definitely worth doing.

Smallfries

going to do a car boot next sunday to clear out some stuff so will keep my eyes peeled for anything for sale there.... everyone has been a big help

Maryjane00

Well done...scary though hey. Have you considered doing some home selling? There are all those companies like Avon, Vie at Home, I think Jamie Oliver is doing one now too and there's one called Kisumu jewellery or accessories....saw it in the Sun the other week. I don't think that would count as another job. You could just sell stuff outside of work and make a few quid. Just think tuperware party!

Smallfries

learnt something already, didnt know Jamie Oliver did anything like that!

nolongerindenial

Thanks The Big H - I will use your spreadsheet idea....

smallfries - I was in the same situation as you this time last year, with my first baby due in december. It is a frightening time for you however have you tried asking your boss if you could work in a pub or if there is any overtime going? Employers normally only include that in the contract to try and prevent you working yourself into the ground and them being responsible for you and the european working time directive.

I dont claim to be in the best financial situation, in fact I am in anything but.. However the happiness my little one brings me and my wife makes up for all the stresses and he is worth it. It may be worth you doing an SOA so you can see what your incomings and outgoings are and work out how you are going to finance the costs of your newborn baby, dont forget nights out in the pub will quickly be replaced by nights infront of the TV as baby wont stop crying and you cant afford a babysitter.....

Smallfries

Nolongerindenial,

were you not living with your partner etc, were you in same boat as i am now. just wondering cos i would love how you dealt with things like housing etc. all these things on my mind