Please help, I am so stressed out

Jevvers

It's worth getting to the bottom of what happened with your electricity meter. Seems you are being punished for a broken meter but meters are the property of the energy company. I don't know the legal situ but could be worth investigating further.

Good luck with it all

curlytop12

mogsi80 wrote: »

Hi there, we've sold quite a lot of things on eBay to help, sort of running out of things!! I thought about kleeneze or betterware but you have to pay for the books so not keen on shelling out for things, plus there seems to be a lot that come round here too, so I don't know how viable this is? I've got lots of videos that I could sell so thought about carboot sale, sold some old broken gold too but I'm at a loss at what else to sell!

is it videos or DVDs?ebay and/or music magpie may be worth a try.
G

mogsi80

Hello All

Don't really know why I am posting, as nothing positive to add - just awaiting opening up a new account with Nationwide... Then I will commence with the offer letters. Just a little concerned as things at work seemed to have lulled and worried that at the minute I am lucky if I scrape £1300 (£500 less than my yearly average eek!)

Could I still send the letters out offering the amount I want them to take but for the first month maybe only give a token payment?

I have been working extra hours, but I don't get paid to come into the office, I only earn if I make a sale or two, and at the minute it's just not happening, and I can feel the stress levels increases (well my left eye has been twitching like a crazy persons for the last week!)

OH is still a bit head in the sand at the minute, but working 2 jobs to help as much as possible. Aaahhh I just don't know what to do anymore!!!

Just in a bit of a grump at the moment - need to shake it off and get back to being positive!

lambda

Hi,

Firstly what I'd do is cut:

Entertainment - 20 quid a month!? You can't afford 20 quid for entertainment. Listen to the radio/go to the library instead.
Haircuts - 20 quid a month. I spend about 6 pounds every 3 months on haircuts.
Sky TV - 70 quid. No way can you afford this. Ditch it and use freeview.
Life insurance - 79 quid. This is a very very expensive for life insurance.
Emergency funds - 30 quid. No point in having this until your debts are cleared.
Mobile phone - 50 quid. Buy a cheap PAYG.
Clothes - 45 quid. Shop at charity shops as and when you actually *need* the clothes. I must spend 45 quid a *year* on clothes!

Hope this helps.
Chris.


That'll save you 314 before we even look at groceries, etc.

curlytop12

lambda wrote: »

Hi,

Firstly what I'd do is cut:

Entertainment - 20 quid a month!? You can't afford 20 quid for entertainment. Listen to the radio/go to the library instead.
Haircuts - 20 quid a month. I spend about 6 pounds every 3 months on haircuts.
Sky TV - 70 quid. No way can you afford this. Ditch it and use freeview.
Life insurance - 79 quid. This is a very very expensive for life insurance.
Emergency funds - 30 quid. No point in having this until your debts are cleared.
Mobile phone - 50 quid. Buy a cheap PAYG.
Clothes - 45 quid. Shop at charity shops as and when you actually *need* the clothes. I must spend 45 quid a *year* on clothes!

Hope this helps.
Chris.


That'll save you 314 before we even look at groceries, etc.

hi ,these suggestions for cutbacks have all been made before to OP,don't think from whats been said,that they want to cutback on anything at present,and are concentrating on trying a DMP,and there is now a 2nd job/wage.
guess we all have different priorities and LBM;s
G

lambda

Hi

Sorry - I just saw the thread and scanned through the comments.

Can you tell me what DMP and LBM means please? Still quite new to all of this myself.

Thanks!

curlytop12

don't say sorry-all good advice!
DMP-debt management plan
LBM-light bulb moment--when we finally face up to our affairs and commit to rectifying them.
anyhow,welcome,will warn you,you'll become addicted!
G

mogsi80

Hi

Its not a question of me not having my priorities right - of course I am not going to go out and have a ball whilst shirking my responsibilities, but I do have a little one that I take swimming, £1 saturday morning cinema etc..

I have neogiated a 50% discount with sky, so paying out £50 for tv, broadband and landline. I am tied into the contract for the mobiles, 2 accounts at £50 for the both of them, I have also been tied into my life insurance through work for another 2 years - otherwise I would have to pay back £1000 of commission.

I can't change my energy supplier as there is an issue with the meter, which we are disputing at the moment.

I spend £50 a week on food for a family of 3, and a quite large dog. Don't currently have anything in my emergency fund (this was recommended to have one by the CCCS) and I don't pay anything away for emergencies, but I still think to have something in place for emergencies is a good thing - if something does go !"£$ up I've no money or credit to sort it out!

I've spent £3 in this month to purchase my child some new socks - so again not spending money on this. £25 for 3 people to get their haircut every 6 weeks is pretty good for where I live...

I've started a spending diary as per the advice on here to see where I can make more savings, as I admit I am new to all of this.

Sorry for sounding off a little, but kinda p*&£ed off at the moment!!

lambda

I'm sorry - I didn't mean to be sounding harsh with my advice! I can understand that this must be a very frustrating situation for you!

I do, however, think 50 pounds a month for TV, broadband and phone is still very expensive. I pay nothing for freeview (apart from tv license), and 20 pounds a month for broadband and phone combined with O2. To me, Sky TV is a luxury not a necessity.

Will your mobile phone company not lower your tariffs?

Your life insurance is 948 pounds a year. That's 1896 for two years. It may still be cheaper to ditch, pay the 1000 pound fine and get a cheaper premium elsewhere!

surrey648

I feel your pain! I remember the panic and the not knowing where to turn. Feeling embarrassed about not being able to spend money, but getting more into debt to disguise it!

I had my LBM and my first step was to sell my house. A few months on, was still struggling with paying rent along with my bills, so approached the CCCS. They gave me options and advised that I was only just eligible for DMP. [ I had almost 80k worth of debt, not including my mortgage, which had gone by then - all due to CCs and loans I'd taken out to disguise my debt and keep up with the monthly bills, along with a spending mentality! ]

I have a reasonable wage [single income], and four years on I have paid off 49k with 31k still to go! Here is what I have learned...

1 - I wish I'd done the DMP while I had the house... at 40, I'm going to struggle to get another property of my own! With my salary, which is nice, but not MEGA, it's awkward when it crops up that I rent! I'm not saying that this is right for you, but think carefully. Listen to what the CCCS has to say - their advice has been invaluable to me!! They won't offer a DMP if you don't fit the criteria.

2 - The DMP leaves you with NOTHING!! I wish I'd known how much my life would change - thankfully I have the support of friends/family who all know, there is no point in hiding it!

3 - The estimation was that it would be paid in 5 years... not true! Still estiating another two and a half years.. but unlike a diet, the pounds only come off, not go on!! Be prepared that the debt may take longer - changes in circumstances, creditors not stopping interest etc..

4 - It does wreck your credit file, I had never defaulted before this, and now my equifax file is RED all over it! That said, apart from the wish to have a mortgage at some point... I NEVER want credit again!!

Finally - you have a family unit... I have been single since my LBM.. because it's easier for me to not explain it to someone new. Stick together and be strong! It's not an easy journey whichever way you decide to go, but be honest with yourself, each other and friends/family you can trust!

Good luck!!!! :A