Running out of ideas!

Gettingsorted_2

Hi All,

I'm new to this forum but I've been reading it for a long time. I'm a 30 year old woman and I live on my own and I'm really worried about my financial situation. I'm only just getting by and I don't have any savings for emergencies except for a very small amount (under £100) that I am keeping in a savings account to pay the tenancy renewal fee when that comes up at the end of the year. I have opted out of the company pension scheme at work, but at almost exactly the same time I did that one of my credit card companies increased my minimum payment by 50% and my electric bill went up so it cancelled out any money I saved by doing that instantly. Typical!

Anyway, my income each month after tax & NI is:

£1140

And my outgoings are:

Rent: £450
Credit card min payment: £64 (debt of about £3800)
Credit card min payment: £35 (debt of about £2100)
Council Tax: £70
Electricity: £80
Water: £20
Landline and internet: £30 (at the moment I would like to keep internet access so that I can still supplement my income by selling on ebay)
Mobile phone contract: £20 (I get a lot of free minutes and free calls to landlines)
Contents insurance (required by landlord): £14.99
Union membership: £10
Health costs (special shampoo, moisturisers etc.): £20
TV Licence: £13
Travel to/from work (bus): £40

which leaves £288 for food and other costs.

But I have a problem in that my job description includes providing cover at an office in another town. And I don't drive so it costs £20 each time (there and back) they send me over. So far I've been lucky because I haven't had to do it, but in September I'm going to have to go 3 times so that's £60 :eek:

Also, I have a severe skin condition which I'm not treating because I can't afford to keep travelling up to the hospital which will cost too much. And I'm really worried that one of my teeth has broken twice but I'm too scared to go to the dentist because it will cost so much, even on the NHS. My washing machine broke almost a year ago, and I still haven't afforded a new one.

I know things aren't as bad as they could be, but financially I feel really vulnerable. I feel like one small thing could go wrong (ie. get made redundant and not find a job where it's as cheap to get to as the one I have now, or toothache/an infection) and I will have a really BIG problem

Add to that, I feel completely outside of my own age group who all seem to be going on holidays, having days out and buying new clothes all the time (shouldn't go on facebook so much!!).

I guess the only thing I can do is try to spend less on food/groceries but I don't really buy much as it is so not sure where the rest of my money goes. But I know it's always gone by the end of the month! Most months I supplement my income by selling a few bits on ebay, but obviously can't do that forever when I don't have anything left to sell.

Sorry, I didn't mean to write so much but it all came out as it's been weighing on my mind for a long time. Hopefully I'll feel better after talking to the lovely people on here

SavingPennies_2

Hi, Cant give much in the way in advice but I am a similar age/income/outgoings so I know how hard it is to save. £100 might not seem like a lot but keep your savings acount seperate and try to put as much as you can in each month, even if its only £5, it all adds up over time.

Oh and stop going on facebook so much! People are so fake on there and many of those holidays that people are showing of are probably paid for with credit cards.

Gettingsorted_2

Thank you very much for replying!

Yes, the electric does include the heating as well.

I will try to see the dentist - I think the charge just to be seen is almost £20 and I'm worried that if they recommend treatment and I don't have it because of the cost I'll get kicked of the NHS list for not complying. Not sure how it all works to be honest.

Yes, I've been looking for a night time job but it would have to be walking distance as I have no car/licence and there's no public transport round here out of hours. And I live in a very small town so just waiting for something to come up really. There is a big supermarket near me and I check on jobseekers direct nearly every day so fingers crossed.

Haven't used my credit cards for about two years and will not use them even if it's life or death because I only want my debt to go down from now on lol. I've thought about consolidating but online loan calculators make the minimum payments much higher that what I'm paying now for some reason, and can't seem to borrow less than £7,000.

Thanks again, your reply was much appreciated and I feel a bit better already

Gettingsorted_2

Thanks savingpennies - yes I will try to curb my facebook habit as it's psychological poison isn't it!! I'll have to get addicted to this site instead for a better sense of perspective!

It's nice to know I'm not the only one, not that I would wish struggling on anyone of course. Sometimes it feels a bit futile saving tiny amounts for months and months because something always comes up and swallows up the money and it's gutting!

Gettingsorted_2

I don't know - they just told me I had to have it arranged before they would let me sign the tenancy agreement. Not sure why and I didn't ask because I was in a bit of muddle at the time!

bargainbetty

The landlord should have rental insurance on any furnishings he/she is providing, and that should include contents cover too! It's safer for you to have it, but ultimately he should have his own.

Can you not speak to your employers about the disproportionate cost you incur by working at the other site? Surely they could come to some arrangement about subsidising your transport costs for those days.

Good luck

Gettingsorted_2

Thanks, all the contents are my own (furnishings etc). I just presumed it was the norm to require the tenant to insure own contents before agreeing to let to them? Maybe I was wrong there!

I have spoken to my employer. Long story but I got told that they wouldn't help with travel costs because it was in my job description. I got transferred into this job after my previous one was relocated even further away so feels a bit unfair, but c'est la vie! They have been good about not sending me into town too often if they can help it, but they can and will when they need cover elsewhere so I will have to do it.

Thank you for your reply bargainbetty

Hovel_lady

Hello :hello:

Do you keep a spending diary? If not keep one for at least a month and you'll be surprised where it all goes.
Can I suggest you start a diary on here too if you feel you want to. Mine has been the thing that has changed my world for the better and you might find the same.
xx

getmore4less

Why pay to renew tenancy just go periodical

Contents insurance looks high for what you must have, get rid of all the extra like accidental, out of house etc.


What about cheaper rental closer to work maybbe even consider doing house share till debt sorted.

fracturedsun

Hi, most of these look reasonable (though I did have a double take at the electric until I realised you didn't have gas) you may be able to get a better deal on the landline and internet if you aren't locked into a contract and still keep your internet. I used to have internet only and no landline, which can work well if you have a good package on your mobile phone. Can you claim back the cost of going to the other site or find a cheaper route (e.g. can you get a different bus route and walk a bit further) I don't drive either and I take longer bus trips and walk further to stops so I only use one company in the week for which I have a pass.

If you want to build up your savings. I would suggest setting up a regular payment to your savings account. If you set it up to go out the day you get paid you won't even notice it's gone (like tax and NI you never see it so you don't miss it). Just £5 or £10 can quickly build up and then you have a reasonable amount for emergencies or things like visiting family and presents. I have my accounts set up so that the money for all my regular payments, rent, bills, direct debits etc all go out the day I get paid (including putting money towards quarterly payments, savings and Christmas, Birthday fund) then I know everything I have left in my current account is mine to spend.... and only that.

If as Hovel Lady suggests you keep a spending diary it can really help it makes you think about what you are buying before you buy it and helps you keep track of all those little things that add up. I spend on average £20 less a week since I started doing it.

flyingguy

Hi Gettingsorted, have you considered moving into share accommodation perhaps? There are a few advantages to it, you could find somewhere closer to where you work thus saving on travel expenses. It can be a lot cheaper (depending on where you live), so that £450 + £215 (your bills etc) could be cut dramatically. There are plenty of houses to consider through a site like room mate . com I think it's called, I found a place that way a while ago and lived in a lovely modern house with all bills included for £400 pm, and it's a great way to make new friends etc and have people to hang out with. It may not be for you, but just a thought anyway. Good luck anyway