Trying to get her Debt Free - Advice needed

miggy

And I just noticed the time - get yourselves some sleep (says she, still awake!) because nothing is likely to change overnight and when you are tired things seem worse. Tomorrow is soon enough and coming at it fresh will help you see things you may be missing now.

Hope you sleep okay - looking after yourself is important and getting run down won't help. (Sorry I sound so bossy ).

JammyJim

Wish we had spare time to do much else, she works for the local council, so there's no chance of getting any over time (she's just missed out on the cuts they were making there, but luckily managed to get a pay rise - go figure?!), most weekends are usually spent helping her dad at his dying business, we have actually just got back from helping him - I drove, so it saves her fuel.

Trying to get her in a routine of trying to save money, staying in, watching a dvd out of the collection or what not.... She could probably do one or two paid surveys a week maybe, then again, she doesnt get much time.... out of the house at 7:45-8 to get to work for 8:30 ish, then doesnt get back home till 6-6:30, dinner, get settled, by that time its 7:30-8:00 and she's ready for bed near enough.

miggy

It sounds as if there isn't a lot of spare time, so fair enough - in that circumstance a second job would be a killer. A couple of members of my family work for the Council too so I know things are rocky - looking at travel times you could even be in the same county though there will be other areas the same.

Do try the spending diary. Although the amounts spent on icecream or whatever seem trivial in comparison with the debt, they do make a difference. I saw someone's diary once where when they felt down they paid a penny off every debt. Sounds silly but psychologically it helped them. Multiply that up to the level of £2.45 for a coffee... forgo the coffee, put the £2.45 towards the debt, work out the interest you are no longer paying on that amount. At 30% interest, if my maths is right, that's £3.18 you will not have to find in the future.

That doesn't mean never have a treat - just be aware they add up.

JammyJim

Live in the North East Miggy. Yea think we are both going to start a spending diary, including myself - even though im not in debt (well technically I am, as ive just come out of University), but i like to save/make money as much as possible - Currently doing matched betting with some spare cash i had in my paypal account.

I have said that I'm not going to give my girlfriend any money, as she has to pay it off her self, kinda a learning experience type thing.

miggy

Live in the North East Miggy.

Snap

I have said that I'm not going to give my girlfriend any money, as she has to pay it off her self, kinda a learning experience type thing.

I think helping her financially wouldn't do her any favours in the long term, though the occasional bar of chocolate might not hurt! You are spending time and effort right now finding ways to help her via this site, and moral support which will make a big difference. Much harder for her to do this on her own. I think those are the most useful things you could do - but it won't be an easy ride for her and there may be times when it may test your relationship. Just be aware of that and you are more likely to see it for what it is and come out the other side stronger individually and together.

DVD evenings as you suggest, and other cheap entertainment are a good idea. You'll get there.

dancingfairy

Hi Jammy Jim :wave:.
I think the best route will be a combination of
1) having a clear out/car boot/ebay session for any handbags/shoes etc - perhaps she can ebay some of her friends stuff for a commission or something as well
2) I don't know how much you are spending on food but can you combine your food budgets to make things a bit cheaper or is it more a contribution to the household budget? Perhaps you or her could offer to do the shopping for the family and try and get it cheaper (so reducing the amount she needs to contribute) or perhaps offer to cook some really cheap meals for the family instead?
3) Does the council have a car sharing scheme at all? perhaps she can put a notice on a noticeboard or something - obviously she could vet the people though to find someone who lives in the same direction and who she gets on with.
4) Does she do any driving as part of her job? make sure she claims and travel expenses either directly through work or through the inland revenue direct.

If there is no way to increase income and decrease expenses (to be honest it looks fairly tight) then she will have to consider a dmp or something.
Best of Luck
df

shebrett

Hi Jim - A second job would be hard on her but she really needs to look into Saturday work. It's great that she wants to help her dad to stop him going under but if she doesn't stop and help herself she is definately going to go under. Once you take £135 off the car loan and change the MOT to more like £10 a month and she removes the hairdressing allowance (sorry, it really does have to go), then I notice that you said her share of the food is £150 but you put £170 in the SOA so I am guessing there is an extra £20 to be had there.

Looking at it again, she should now have £15 left over for extra repayments. A second job working a full day pub shift or even McDonalds on a Saturday could bring in an extra £50 each week which she really does need. Plus of course ebaying everything that isn't tied down.

There's probably a load of reasons she doesn't want to do it but physically she is able and time wise it is possible and it seems like the surest way to get things done. Good luck with everything whichever way she decides to go.

JammyJim

Well last night she listed some of her things on ebay, and looks like she's got a few bids on some of them already. This will pay a chip off her debt, but its a start, but after that, she's pretty stuck on what else to do to get rid of the rest.

RAS

JammyJim wrote: »

The car is something that we both use, and i myself pay half for (only a year left on the finance), and i pay half the tax, and pay for fuel when I use it.

So in another year, there will be a spare £135 to pay towards the debt.

It may be that she has to keep nibbling away at it for a while and then start to really knock it back next year.

Read up on the £10 per day challenge, check out clicks and surveys, find out what is free in your locality, so you get out.

And make sure she gets at least one day a week when she is not working, or she will keel over.

Try things like houseswaps for holidays or go camping.

j8yba

Have you tried speaking to the CC companies and asking why the interest rate is so high? I did this with Barclaycard a few years back and they transferred me onto a different rate, 29.9% down to 16.9, its worth a try as all they can do is say no.