Advice

saz2006

Hi
After months of sticking my head in the sand I now wish to be debt free.
Credit cards:
Egg £12237.71 0% til Apr 07
Virgin £14322.31 0% til Mar 07.

We are running at over £2K over each month.
Can you explain what piggyback and other cash back schemes are about?
Also need advice about working from home.
Thanks so much and already feel relieved to have written this down.

Saz

whatatwit

Saz, to get the best advice going on here, please post a full SOA, have a look at the 'stickys' at the top of the board for help.

Southern Scousers post will show you the way.

pudding06

Hi Saz,

pigsback is https://www.pigsback.co.uk you register with them and you get points credited to your account which you can exchange for vouchers eg boots, pizza hut etc. It takes a while for them to build up but I joined in cotober and now have £27 in, waiting to get 3 £10 vouchers hopefully before christmas, for topman for my sons.

https://www.quidco.co.uk is a cash back site. you register and go through them to take out insurances etc and they give you cashback. take a look at the links and do searches on the other boards cos theres lots of advice on them.

pudds

edit - theyre both free to join, but quidco will take the first £5 per year of any cashback as an admin charge. but dont let that put you off - just check out how much people are getting on their signatures.

saz2006

Thanks Guys will do the SOA - bit embarrased becuase have high income but bigger outgoings. Does this still count?

pudding06

No problem - just post it

we're not here to judge you just try to help and support you

welcome to the dfw boards

pudds

whatatwit

saz2006 wrote:

Thanks Guys will do the SOA - bit embarrased becuase have high income but bigger outgoings. Does this still count?

It's often the way, when you earn more, you spend more.

*there should be lots of savings available*

Sinkingindebt_2

Dont be embarrassed we are here to support you, not be little you. We will help you and find holes in your speding ot help you out xxx

saz2006

OK here goes then:

Below is a rough template;

Monthly Incomings:

My money - self employed and fluctuates but around - £100
Partners salary - £5400
Partners gross extras - £2000 (average)
Benefits - £115 (child benefit)

Total - £8,105

Monthly Outgoings:

Mortgage- £2300
Council Tax - £159
Gas -and Elec combined bill - £300 - (have done a Uswitch and should be a lot less now)
TV Licence - £10.99
Sky £36- considering changing to Freeview but have Sky+ and would like an equivalent
Phone (BT) - £44.91
Phone - 18866, - £10 ?
Phone - Euphony- £12.49
Phone - Telecom U - £1.71 - not sure what this is!
Daughter's mobile - £19
My mobile - £20
OH and OD - PAYG probably £10 per month
BT Broadband - £23.53
Tescos - food and household stuff - £500
Car Insurance me - £32.66
Car Ins OH - £32.70
Petrol 2 cars - £150
Life Insurance - £31.74
House endowments (!) - £127.94
Water - £59
Denplan - £14.26
Scot Widows Saving plan - £50
OH Pvte Pensions - £250.18
OH income protection - £56.11
Kids savings and pocket money - £55
Dog ins - £22
Cat ins - £7
My car loan - £265
OH car loan - £385
House ins - £62
Gym membership - £45 - cancelling when a year up
Virgin CC - £28.15
Egg CC - £18.98
A&L Loan - £428
PC World laptop - £21.97
Pet food £35
School fees - £1700!
Tax saving - £1000
Misc household - £150

Total - £8474.71

Net - -£369.71

That's not too bad actually! Also thinking of doing teacher training starting in Sep.









Total: £

david_hellier

Hi and welcome to the site. According to my calculations you cannot afford to eat. In fact without eating you are still overspending by £15 per week. You are not in a position to save so I have excluded the savings plan; cancel it.

Your biggest recoverable overheads are school fees; use state schools. Then you will have about £250 per week to spend on food and any other luxuries. The others on this site will let you know of other cutbacks but they will not be enough to feed your family to a level you are used to. If you can't bring yourself to get the kids out of private school then you need to halve your mortgage, which will mean you downshifting. Your choice.

Please look at the figures and note what is NOT there.

Good luck, the figures are as follows:

income weekly monthly
self 100.00
partner 5400.00
cb 115.00
extra 2000.00





total 0.00 7615.00 divide by 4.33
£1,757.32

£1,757.32 total weekly income

spend weekly monthly
rent/mortgage 2300.00
council tax 159.00
elec 150.00
gas 150.00
water 59.00
secured loans 0.00
TV licence 10.99
fines 0.00
sky 36.00
bt 44.91
phone 10.00
phone 10.49
phone 1.71
daughter mob 19.00
mob 20.00
payg 10.00
bb 23.53
car ins 1 32.66
car ins 2 32.70
petrol 150.00
life 31.74
endowments 127.94
dental 14.26
pension 250.18
inc prot 56.11
dog ins 22.00
cat ins 7.00
car loan 265.00
oh car 385.00
house 62.00
gym 45.00
a+l 428.00
pc world 21.97
school fees 1700.00
tax 1000.00
virgin cc 28.15
egg cc 18.95
total 0.00 7683.29 divide by 4.33
£1,773.07

£1,773.07 total weekly spend

Start= income - spend = -£15.75 per week

whatatwit

What is the misc household £150?

As your children are at school, can you not find a part time job, or start doing some mystery shopping, there is a thread about it.

As I pay school fees, no comment on those.

beer2006

Can I ask why if you save for tax, by which I presume your OH is self employed, does he have income protection?
Or am I being thick?

edit, sorry maybe I am being thick, I just assumed you couldn't get income protection being self employed/