Don't Want To Get Into Debt... Advice???

annemariemyers

Hi!

I was just wondering if any of you could help me and give me some excellent advice.

I am a full-time student (trying to better my career prospects) and a mum of two, one aged 2, one just born. My husband earns £15,000 and we have the issue of not earning enough to cover our bills.

Rent - £625 per month
Water, Gas, Electricity, Council Tax, etc - £300
TV Licence - £10
Life & Home Insurance - £20
Phone & Broadband - £35
Credit Card - Minimum of £15
Loan - £100
Car Tax - £100

This makes £1200 per month approx. yet my husband earns about £1000 per month. We get tax credits, but I'm not going to include them because they barely cover our weekly food bill let alone cover the cost of petrol, etc. We also have missed a rent payment which need to pay back within 2 months and I borrowed £100 which I need to pay back this month.

What can we do????

clang_uk

Ok if you are spending more than you earn, you are going to get into debt - there's no other way out of it. I know that's not what you want to hear!

You can either get a part time/eve job and get some more money into the household, or cut back on what you buy.

I would suggest starting off live here with a SOA - go to makesenseofcards.com/soaccalc enter in all of your income and all of your outgoings. Then post it back up here. Hopefully people can help point out where you may be able to cut down on.

best of luck

Mimi_Arc_en_ciel

Can you complete an SOA and post it so we can see where your money is going?

Thanks

Me

skint-student-nurse

have you tried https://www.entitledto.com ? it only takes about 5 mins or so and its an easy way to check our getting everything your entitled to. have you got the 25% discount on your council tax as your a f/t student?

Tixy

Edit .........

podperson

If you are a full-time student are you not entitled to a student loan or an ALG? Other then that, as said above post a SOA then people can see what you might be able to cut down on.

downnotout

You should also be able to access the University/College hardship fund. My university has a student support team that handles this.

gfplux

Ok no SOA yet.
However you have to face up to the real facts of life.
If you spend more than you earn THAT IS WRONG
you have to either increase the earnings or reduce the spending
If you post an SOA you will get lots of suggestions.

May I just say you can not afford to be studying. You have to get a job. You need jam today not improved career prospects for later

Good Luck

Amara

May I just say you can not afford to be studying. You have to get a job. You need jam today not improved career prospects for later

Good luck

Sad, hard but true. If you can't afford something, you can't. Or, if you're want to study, get a part-time job. It will be hard with two kids, but you have to make a choice.

vaporate

rent is too high.

better be a nice place for that cos i would refuse point blank to pay that kind of cash on 'rent'.

no offence

best of luck.

Firewalker

I agree that you will have to increase your income - any chance that one of you can work during the weekend? Whatever else happens please do not give up your studies - improving your qualifications today is likely to give you jam, butter and more in the future.

Firewalker