Any advice to get out of £5000 debt? Please read....

wishicouldsave

My children are 12 and 4.

d3mon4ngel

I know it's not something that you would like to do, but could you look at getting rid of Sky TV and switching to Freeview? If you are struggling financially, do you absolutely *need* to have Sky? The answer is probably "no".

Also, could you reduce your mobile bills to a cheaper contract, or switch to PAYG?

You could look at reducing your groceries bill too.

Have you seen Weezl's thread on here about feeding a family of 4 for £100 http://forums.moneysavingexpert.com/....php?t=2384579? They have produced a fab website http://www.cheap-family-recipes.org.uk/ and there are some really nice looking recipes on there. (shamelessy stolen from jwil's post on my diary )

dreamywings1

Just done a quick calculation and your not getting the benefits your entitled to

You should roughly get :

CTC and WTC £122.38 a week
HB £70 a week
child benefit £33.70 a week

£226.08 a week or £979.68 a month

wishicouldsave

Hi d3mon4ngel

The sky is high due to oh having sky sports on there, i would change it now, but thats his treat for giving up smoking recently, belive me its a saving! I am not going to rock the boat on that one just yet! Maybe in time though!
As for the phones - I am just about to call them to reduce mine to as cheap as poss, then nag him to do the same, eventually he will!
I will look at the grocery thread! That sounds good! Thankyou!


Hi Dreamywings,
I will have a look at the calculator thing, i will see. I forgot to add CB to my statement of affiars!
Thankyou to you too!

patchwork_cat

Generally old style is good for saving money on groceries not just weezle's thread.

wishicouldsave

We are now puttin gevery penny we would have spent - like on a take away or beer over the co-op, into a jar, at the end of the month i will pay the credit card on top of the minimum!

Can anyone advise whether to attepmt another credit card? to cover what we have got in debt, so one debt covers the lot?

Hannah_10

I have no advice but having read this bit...

wishicouldsave wrote: »

We are now puttin gevery penny we would have spent - like on a take away or beer over the co-op, into a jar, at the end of the month i will pay the credit card on top of the minimum!

Can I just say...

You Go Girl! :T

That's the sort of attitude that I'm trying to cultivate too, and so far, it's working (8.85% paid, just 91.15% to go!)

Hannah

RAS

wishicouldsave wrote: »

We are now puttin gevery penny we would have spent - like on a take away or beer over the co-op, into a jar, at the end of the month i will pay the credit card on top of the minimum!

Please don't do this.

You need to pay the store card off first as it is the most expensive.

wishicouldsave

Ah good idea! Didnt think of the store card, i guess thats beacuase it has the least onit, but yes, by far the highest interest! Thankyou!

patchwork_cat

Paying off the highest first is 'snowballing'. You target your highest rate card first and chuck all you can at it whilst paying minimum on others. You also move the money from the higher rate cards down to the lowest ones so that they are full - common sense pay as little interest as possible. Could you move the store card onto the credit card and clear it straight away - watch out for hidden charges doing this though.