Advice on SOA

iamana1ias

cycloneuk wrote: »

I already work full time, i'm quite happy to work full time for a part time wage at present.

Some of the suggestions in this thread are redicious, basically i'm expected to live on value brand food, wash once a week, never go to town and stay stuck in a small village with nothing to do.

Life is for living not just existing, shame on these people that never take their kids out in order to save pennies, what kind of life is that for them? i'm also expected to buy clothes from charity shops and buy food nearing the sell by date and freeze it.

I'm all for saving some pennies but seriously, the way some people seem to live is very sad. You may be debt free quicker but it can't be nice when your kids get asked what they did at the weekend and they say sat in a tent in the garden when everyone else went out and did something.

There are actually some good suggestions, so thanks to everyone for those.

Yes you are, because it isn't for the rest of us to support your lifestyle through tax credits etc because you choose to flog a dead horse that doesn't pay you enough.

You should be living on (value) beans on (value) toast if you can't afford your lifestyle.

Something has to give, but you're not prepared to alter anything. Why did you bother posting an SOA?

ceh209

cycloneuk wrote: »

Life is for living not just existing, shame on these people that never take their kids out in order to save pennies, what kind of life is that for them? i'm also expected to buy clothes from charity shops and buy food nearing the sell by date and freeze it.

Sorry I don't normally post on this board, just read, but this thread is really getting my back up!

It's this sort of attitude which I think has got you (and many others) into debt.

There are plenty of free/cheap days out available - trips to the park, walks, ten pin bowling offers during school holidays etc. Not everything has to cost the earth.

Buying clothes from charity shops - yes, you are expected. If it's only going to be used for a couple of months for a baby, why pay over a fiver for it? At the very least, please sell on (ebay?) what you've bought which no longer fits the baby.

Freezing food - what exactly is the problem with this?
Buying lower supermarket brands - the point is, you TRY it. If you don't like the particular product, go back to the higher one.

cycloneuk

Why can't your brother and mum come to visit you? Do they drive? And what specifically are the visits to town for? Shopping for groceries or just getting out of the house?

Neither of them drive, my mum visits every few months but is not in the best of health. Visits to town are just to get out since town is right on the coast, could be a walk along the beach or prom and also visit my mum when in town usually.

Is that £160 for 2 adult bus passes? Or also including child's bus pass - I haven't seen the age of your older child, so don't know.

£160 is for 2 adults and 1 child, can save £30 a month by getting them monthly, older child is 8.

You don't speak much about your OH, and I found one comment you made a bit puzzling about her not wanting to pay off your debts. Is she on board with this?

She is but isn't overjoyed by the fact clearly.

Not sure how much we spend at present, my OH does buy most designer brands for a fraction of the price in bundles off eBay. It does save a lot, no point buying new at present since he is growing so quick and a lot of foods stain.

I would think we could at least bring that down to £75. I myself used to spend £300 on designer clothes every few months, have to cut back on that. I will continue to buy decent shoes since a £60 pair of trainers lasts me for at least 6 months, i used to have cheap brands as a child and they fell apart within a matter of weeks.

I only go to carboots with my OH for the walk, i never actually buy anything apart from a icecream lol - my OH buys designer clothes mostly to sell on eBay and with the money she will buy something for the baby usually.

MyLastFiver

cycloneuk wrote: »

Even though the business is not paying me what i would like, it is still profitable at the end of the day.

It is not profitable.

Approx monthly cost of servicing loans made to the business:* £387
Amount you are able to take out of the business every month: £371.20

= LOSS!!!!!



*Excluding payments to the credit card (don't know what you spent that on), but including estimated monthly cost of that new A&L loan, which has just put your "business" into the red, in real terms, month-to-month.

Your business does not make enough to service its debts.

I can see you are offended by the directness of some of the replies on here, but it is only because you need to see what is staring you in the face.

You are living beyond your means. You feel an entitlement to a certain lifestyle and there is nothing wrong with that, but you can't afford it. Sorry. You need to either raise your income or reduce your living costs.

cycloneuk

iamana1ias wrote: »

What do you do in town though?

We live on the coast so plenty of free things to do, walk along beach, huge park their also.

MyLastFiver

iamana1ias wrote: »

Yes you are, because it isn't for the rest of us to support your lifestyle through tax credits etc because you choose to flog a dead horse that doesn't pay you enough.

Go easy. He's getting there.

You should be living on (value) beans on (value) toast if you can't afford your lifestyle.

Something has to give, but you're not prepared to alter anything. Why did you bother posting an SOA?

Agreed

ceh209

cycloneuk wrote: »

I will continue to buy decent shoes since a £60 pair of trainers lasts me for at least 6 months, i used to have cheap brands as a child and they fell apart within a matter of weeks.

:eek:My trainers are Nike and I think cost about £40 - 5 years ago. :eek:
I'm just starting to consider replacing them, but they're just a bit worn, not falling apart at all.

cycloneuk

ceh209 wrote: »

:eek:My trainers are Nike and I think cost about £40 - 5 years ago. :eek:
I'm just starting to consider replacing them, but they're just a bit worn, not falling apart at all.

Well i don't think mine last for than 6 - 8 months, i do a lot of walking/cycling so that must wear them down.

My mum has a pair of HI-Tech shoes that are still in good condition and she bought them 20+ years ago.

JohnD76

ceh209 wrote: »

:eek:My trainers are Nike and I think cost about £40 - 5 years ago. :eek:
I'm just starting to consider replacing them, but they're just a bit worn, not falling apart at all.

Amazon.co.uk is very good for shoes and you can get Nectar points.

6 Month lifespan for a pair of shoes is rediculous!!!

iamana1ias

cycloneuk wrote: »

Well i don't think mine last for than 6 - 8 months, i do a lot of walking/cycling so that must wear them down.

My mum has a pair of HI-Tech shoes that are still in good condition and she bought them 20+ years ago.

That walking/cycling time could be spent earning money. An Olympic runner doesn't go through a pair of trainers every 6 months!