possible new job - advice please?

clarab_3

Hi folks - I think I have a good chance at a new job (they are taking up references) which pays considerably more than my current job :j

Like all good DFW's I have been throwing every spare penny at my debts for years now - I dont have savings.

I have spoken to egg and they have agreed a payment break on my loan should I need it, lovely people.

The question is - how do I bridge the gap from one salary to the next (I am likely to have 2 months between pay packets) with no savings?

I can cut back but only so far... I think the likelihood is Im going to need to find £1000 from somewhere to cover mortgage, utilities and CT, food, transport and the other loan in the second month, and that will be living on breadline.

I cant afford to turn down a job that will make me happy and earn me nearly £10k a year more than I currently do!

The_Moo

Congratulations on the new job!

I'm not sure why you would end up with such a huge gap between salary payments though. Wouldn't you have your final pay from the current job then a month later have the new salary from the new job?

If you really will have a big gap, why not post a SOA and see what others suggest to get you over the gap?

xx

Marisco

Hi clarab, is there any possibility that your new employers will give you an "advance" on your wages, and pay back a little every month? I know years ago, my ex oh was put on monthly wages from weekly, and the local authority (he was a fireman) gave us the equivalent of a months' wages in advance, and it was taken out over the next few months. They realised we couldn't go for 5 weeks with no money.

clarab_3

yeah the problem is my current employer pays in advance (sneaky sneaky staff retention scheme!) and the new one in arrears.

I will do an SOA later but trust me after 5 years of DFW, its slim pickings!

podperson

Could be worth ringing mortgage, council and any set bills, explain the situation to them and ask if you could stop payments for the next 1-2months and will pay it back when you get your new wage coming in. Some may more be more helpful then others but you don't ask you don't get!
Is there anyone who might be able to lend you a bit of money on a short term basis, family or friends. Could also try asking for a crisis loan to cover food and essentials, again not sure on the criteria but no harm in checking.
As someone suggested above try your new employer, some companies might be able to offer a small advance to help out, also are you due any holiday pay or back pay from your old job that might help out.
Could you try having a clearout? Ebay or car boot items which could provide a bit of quick cash.

The_Moo

oh dear that is a tricky one. Advances from the new job won't help much because you will still be left short when you get your 'official' pay at the end of the month. It's sort of the equivalent of losing a month's pay :-( Though on the bright side, the pay increase is massive and you'll really notice the difference when it comes in.

Boosting your income to try to cover the shortfall seems a good option - carboots, ebay etc as the others have suggested + cutting back where you can. Any chance of extra work here and there too?

Hannah_10

Right so you need to make £500 a month extra basically. Aim for £20 a day then... Not easy but possible. Try the Up Your Income board for tips but I'm thinking eBay, babysitting and dog walking can all be fitted around your day job maybe?

clarab_3

thanks guys, lots to think about. I think I could definately raise £200 or so on ebay, maybe more, so thats a good start.