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lots to save on the food bill. For 2 people that can easily be cut to £200 and then start chipping away to get it down bit by bit after that. Aim for around £160 (and that's still higher than some 2 people households).
Stop buying clothes for the next few months - £50 a month is a lot if you are doing it each month. Only buy when really necessary and then use Tesco, Asda, Primark, ebay.
Buildings contents is VERY high. Look around at renewal on the comparison sites to get it down - you have no contents insurance?
Car insurance is very high - even for 2 cars.
Sadly, share prices aren't going to get much better for a long, long time. Better to use it to relieve the situation and then overpay on other debts.
"Stay Wonky":D
:j:jBecome Mrs Pepe 9 October 2012 :j:j0 -
Helena
Although you think you've done everything you can to reduce your bills, there are ways that you can reduce further - and with a shortfall of £245 every month between your income and expenditure you HAVE to do everything you can.
Are you actively looking into renting your property?
As suggested, contact your mobile phone provider(s) and Sky and ask them to either cancel the contracts altogether (preferably) or put you on a reduced one.
Lots of people who said the same as you have been sucessful.
Food bill is very high.
Do you cook from scratch?
Batch cook and freeze?
Menu plan?
Do you take advantage of BOGOF offers?
Do you take home made lunches to work?
Try the Old-style board for lots of tips on reducing costs.
Good luck0 -
Why do you still have shares and bonds? Unless they are paying you 30%, you would do better to cash them in and pay off most of your virgin cc.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0
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Is your mortgage repayment or interest only? Would you be able to change to interest only until the house sells? Do you have an idea how long it will be until it does sell?But a banker, engaged at enormous expense,Had the whole of their cash in his care.
Lewis Carroll0 -
Helena
Well done for recognising that you have an issue with the debts, that is truely the most important thing!
Universities have often got housing officers who are very interested in properties to let, not only to undergraduates but PhD students, researchers and lecturers, not sure if you live anywhere near oneLBM Feb 2010 £62,700 Total Debt Jan 11 [STRIKE]£49,403.84[/STRIKE] £47,530.32.
(CC/LOAN = [STRIKE]36,378.98[/STRIKE] 35668.47. O/D = [STRIKE]1255.32[/STRIKE] 1212.35/[STRIKE]1999.78[/STRIKE] 1934.52, BUS = [STRIKE]9769.76[/STRIKE] 8714.98)
Challenge = Debt at 31/01/12 = £25k. 2011 Payments = £1,944.19/£24,403.84
There is no point in negative thought, it takes up time and energy which could be used in a positive, happy way!
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