Facing redundancy and don't know what to do!

Pie

Hi everyone,

Just been told today by my boss that there are redundancies coming, and I'm in the firing line.
So, hoping you people will have some advice as to how I can cut down and pay off some debts quickly.
I live with my boyfriend and we have a strict policy of halving all household/ food bills, and keeping personal debts private -i.e. he doesn't contribute to my loan and cc payments. I won't change this arrangment as it avoids arguments and he earns less than me so seems unfair to ask him to contribute more.

A quick (rough) monthly budget -
Income
Wages £1040

Outgoings
Rent £300
Council tax £50
Water £6
Gas & electric (pre-payment meter) £30
Contents insurance £10
TV licence £6
Phone and internet package £12
--all the above amounts are halved in line with policy above--
Mobile phone £30
Dental insurance £13
Loan (Santander, 13.5% with £3800 outstanding) £172
Credit card (Nationwide, 18.9% with £875 outstanding) £100
Interest on overdraft (Nationwide, 18.9% with £1100 outstanding) £10
Food and drink £150 (inc. food and coffee at work)
Clothes/ toiletries/ beauty products £50
Going out £100
Total £1039

Also owe £98 to dentist which needs to be paid back asap and £400 to OH (just moved into flat and he paid all the deposit for now)

Any suggestions re. bills, food, etc very welcome - I'm aware there are some obvious areas such as going out to cut down on! Also I can't get new credit for balance transfers, etc. but is there anything else I can do to cut the cost of my debt?

Many thanks

McKneff

Food and drink £150 (inc. food and coffee at work)
Clothes/ toiletries/ beauty products £50
Going out £100

Stop paying £2 plus for coffee, make up sandwiches for your lunch. Make up meals on a weekend and freeze for the week/month
Curries, Spag Bol, casseroles,etc.
£50 is a ridiculous amount to spend per month. Bet you dont need any clothes. 99p for a deodorant, 99p for shower gel.

Stop spending so much when you go out, spend more time with cosy nights in or have 'bring a bottle' friends round.
Not so hard if your determined. Ive just probably shaved £100 ofr your otutgoings, throw it at your debt.

rising_from_the_ashes

Hi, it would be good if you could fill out a SOA as it's clearer to get a picture of the total amounts:
https://forums.moneysavingexpert.com/discussion/107280

From a (very) quick look at the above ....

Mobile - too high, switch to PAYG (are you in a contract? if so, how long is left?)
Dental insurance - cancel (if you're made redundant you will get free dental care)

You've said it yourself - the following need to go/be seriously cut back!

Food and drink £150 (inc. food and coffee at work)
Clothes/ toiletries/ beauty products £50
Going out £100

Re the best way to pay back - someone more knowledgeable than me should be able to help!

Pie

Hi both,
Thanks for the advice so far, I guess alot of it is obvious just not thought of doing these things!

With my mobile, the contract ends in August, does anyone know if o2 are likely to let me change it now if I plead poverty?

Anyone have any advice bout what happens if I miss cc or loan payments? Am worried bout going from full-time pay to JSA without any savings... job market isn't exactly bouyant is it?!

ellesbellesxxx

Hi there, talk to them as they should be able to change your tariff! I got 10 pounds off a month from mine... I was halfway through contract.
Have a sort through all your things...
Music magpie CDs, DVDs or Ebay/Amazon
Any old mobiles? recycle for cash
Get on Quidco

Swans1912

You should get some redundancy money? Any idea how much it could be? Take this in to account and see how long you last.... why haven't you started looking for a job now or have you?

How does this place your OH if you removed your income? Can they afford to cover everything for a short while?

McKneff

Dont miss any credit card payments, it can impact on your credit rating for years to come.
Ring them when or if you have to they can maybe reduce your payments.

Just another thought, your boss had absolutely no right to tell you youre in the firing line. Its way out of order.
There are rules when it comes to redundancies and he has broken the first one.

Ring ACAS, talk to them or have a look on their website, its very helpful.

katsu

Go on the direct gov website and you will be able to find out about jobseekers benefit. If you use the entitledto website then you could find out if you and your partner can get any housing or council tax benefit when you are out of work.

Are you and he financially linked?

katsu

McKneff wrote: »

Just another thought, your boss had absolutely no right to tell you youre in the firing line. Its way out of order.
There are rules when it comes to redundancies and he has broken the first one.

Ring ACAS, talk to them or have a look on their website, its very helpful.

ACAS will indeed give you good free advice, however depending on what your boss said, and what the circumstances are, then they have not necessarily broken the law.

There are still steps to go through such as looking for alternatives and selecting who is actually made redundant, but if what the boss actually did was warned you that you are potentially at risk of redundancy, then that is just them starting off the process.

I'm not trying to criticise the other poster who has given you advice, just wanted to clarify a situation many people will be in.

Pie

Hi all,
Many thanks for all the advice. I don't think my boss was out of line, shes told everyone that redundancies are coming and we're all potentially at risk.
I've looked at my potential redundancy pay and it's not much! About £800
Don't think my OH's wages would cover our rent and bills as he doesn't earn much, but yes I will look into benefits and JSA. Obviously I'm looking for a new job as well!
Thanks again to everyone for your help, it's really appreciated at this tough time

Bridget_jones_plus_2

Hi this is my first time on here so not got the hand of it yet, I am in a very similar boat to you, I work 5 days a week and have two children, my partner was self employed as a labourer for farms etc he has not worked since september and we live on my income only now, I am finding it so so hard and it is putting alot or resentment into our relationship. I smoked for years and have now given up that was my only enjoyment as I dont go out socially, so that i could get by at xmas, my partner does not have a penny coming in and he now uses my car petrol etc as he cant afford to run his, I really feel like giving up and it just seems so unfair as by the time I have paid all the bills and rent I would probably be better off financially if I did not work, I am thinking of dropping my hours to part time to gain help with rent etc seems crazy to think like that but I am battling with depression, I worry about working paying all the bills etc the kids etc while my partner lies in and then watches telly at home. He is good around the house doing D.I.Y meals etc but I just cant shake this resentment, he says he is looking for a job and there is not much around but I feel if he had a job we would be so much better off, he refuses to work in a factory saying that he has to work out doors. any advice and please don't be too harsh at me regarding him as I am so low and just about keeping it together.thank you. I earn a next income of 900 a month and then I get my child benefit and child tax.