Advice on SOA

cycloneuk

I do but am limited on what job i could do due to anxiety problems which i have been receiving treatment for, i could manage perhaps a factory job but their is nothing around here, jobs that do popup get 50-100 apps and while my CV would look good the odds are still well against me. If i did a full time job we would get less benefits so wouldn't be worthwhile, would be no better than i am now.

I'm not in an overly bad position, i'm 27 and own a 160k house outright - once i sell then i would still be in a good position owning a property outright and will have cleared the HSBC loan.

cycloneuk

iamana1ias wrote: »

How?

SMP is paid for 39 weeks, so even if she claimed it as soon as she was able to it should last at least until the baby is 6 months old.

Yeah. ends at end of month i think so not worth putting down since by time PayPlan is setup she won't be getting it.

iamana1ias

cycloneuk wrote: »

I do but am limited on what job i could do due to anxiety problems which i have been receiving treatment for, i could manage perhaps a factory job but their is nothing around here, jobs that do popup get 50-100 apps and while my CV would look good the odds are still well against me. If i did a full time job we would get less benefits so wouldn't be worthwhile, would be no better than i am now.

Then you have to reduce your lifestyle spend!

Why can't your partner work?

tbourner

You could always remortgage your house? I don't know anything about rates at the moment or what's available, but a long term loan on the house would give you plenty of time to make some profits and pay if off again.

cycloneuk

tbourner wrote: »

You could always remortgage your house? I don't know anything about rates at the moment or what's available, but a long term loan on the house would give you plenty of time to make some profits and pay if off again.

I wouldn't want to risk my house by doing that.

She will be looking for part time work once her SMP ends, again not a lot about for her so could take a good few months.

I don't exacly have a lavish lifestyle iamana1ias - i can make some changes to help like reducing Sky package to £20, buying monthly bus tickets, looking at the clothes budget and trying to save on gas/electric.

iamana1ias

tbourner wrote: »

You could always remortgage your house? I don't know anything about rates at the moment or what's available, but a long term loan on the house would give you plenty of time to make some profits and pay if off again.

Won't happen if he's already struggling with credit payments and the business isn't making a healthy profit.

iamana1ias

cycloneuk wrote: »

I wouldn't want to risk my house by doing that.

She will be looking for part time work once her SMP ends, again not a lot about for her so could take a good few months.

I don't exacly have a lavish lifestyle iamana1ias - i can make some changes to help like reducing Sky package to £20, buying monthly bus tickets, looking at the clothes budget and trying to save on gas/electric.

You could (as suggested by many) reduce your shopping bills and spend on school meals too, but you won't listen.

zarazara

I think the OP's budget is good. I cannot see any extravagance in it anywhere. I think the best solution would be to get a part time job and use the oney earned to pay off the loans. Maybe the OP's wife could work evenings or even full time for a short while,just to earn enough to pay off the debt.

cycloneuk

iamana1ias wrote: »

You could (as suggested by many) reduce your shopping bills and spend on school meals too, but you won't listen.

I am listening and taking all feedback on board. I have ditched school meals apart from 1 a week and will look at the shopping bill but i'm not going to live on crap value range food which is what i would need to, to reduce it to some levels suggested. Some own brands are ok, but the cheap meats are often fowl tasting and pumped full of water.

iamana1ias

cycloneuk wrote: »

I am listening and taking all feedback on board. I have ditched school meals apart from 1 a week and will look at the shopping bill but i'm not going to live on crap value range food which is what i would need to, to reduce it to some levels suggested. Some own brands are ok, but the cheap meats are often fowl tasting and pumped full of water.

I don't think anyone suggested you live on food like that.

They did suggest you ditch the jars of baby food and premium nappies though.