Advice

Sinkingindebt_2

I know this sounds drastic, but could you downsize your house? Would you consider putting your children into comperhensive shcool (i know it is a huge upheaval and only asking incase it is something you have considered) because over 11 years of schooling I worked this out to be a spend of #18700 (of course this is depending on the age of your children and not including fees increasing etc)

Also you have listed 7 phone items! Do you need 7, or can you cut back hun?

What is oh car and car loan, are there 2 diff cars?

Just throwing out suggestions!

Well done xxxxxx

FerociousDave

Sky+ alternative = Freeview + Hard Disc Recorder.

There's one in ASDA for about £130 at the moment. You'll probably loose things like series link etc. but it would have paid for itself within about 5 months. You can get some with Freeview built in I think.

Even cheaper is an old VCR!

saz2006

Thanks for all the advice.
My husband gets paid gross for some of his work so we have to pay tax twice a year.
I do work too but obviously have to find more - I do freelance writng and website design.
We have 2 cars as live rurally.
Not prepared to move kids into state - think they'd never forgive us.
Great about Asda Freeview and hard disk recorder - will go for that I think.

whatatwit

Saz, it's possibly been mentioned already, but start keeping a spending diary.

Is your husband aware of the financial situation, and will he help to cut back on spending.?

This time of year it is very difficult to suddenly change lifestyles, but now you have started posting on here, then, come 2nd January, you can really go for it.

Have you thought about mystery shopping, if you are doing a school run, you may be able to fit it in.

beer2006

It doesn't matter what your wages are, you still have to live within your means, your problem is, you are not doing so.
You choose to live in a big house, send your kids to public school, have 2 expensive cars (I presume, by the size of your repayments). Simply put, you can't afford to live like this.

You don't say the size of your loan. Nor if you want to pay off your debts quicker.

I think you should cut back your living standards and try to make big inroads into your debt and pay it off as quickly as possible.
After that you can up your living standards again. But you also might be better to save that extra money instead.

saz2006

Hi
Yes - about to start the spending diary today.
Hubby well aware and we've been talking about it all week. Thinking of maybe going to interest only mortgage til I get myself sorted with a proper job - haven't been able to work for a while because having treatment.
Have put my name down for mystery shopping. Have an interview lined up for temp work too.
Thanks again and I'd like to hear about good ideas like this 2p club - what's that about?
We have always saved our £2 coins which we use for holiday money.
think we'll be camping next summer...
S

beer2006

saz2006 wrote:

Thinking of maybe going to interest only mortgage til I get myself sorted with a proper job -

Taking a interest only mortgage isn't going to solve the problem is it?
Not only will you not be making your mortgage any smaller, but you're not dealing with your main problem, you are spending too much.

vindalooloo

EIGHT THOUSAND pounds a month income and they're in debt!!!!!!

No offence mate but that's a LOTTERY WIN! Sorry - not having a go - just nearly fell off my seat when I read it.

God we could live like kings and queens on HALF that a month (a quarter even). Hubby and I both on Nat Min wage (live at the seaside so wages poor / menial / seasonal). Havent had a holidat in 12 years, both work but wages don't even cover cost of living, never mind clothes, leisure etc

Sheesh. :-(

iolanthe07

EIGHT THOUSAND pounds a month income and they're in debt!!!!!!

That was my reaction - but we're not here to judge. Even so.....!

vindalooloo

I'm not judging - I'm totally totally jealous! I wish it were us. There.

It has to be said though. Many people don't earn that a YEAR.