you know when all you lovely people give advice...
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having a very very very very bad day today regarding finances
£65.46 ~ spending acc
£556.28 ~ bills account (bills listed below)
£150.00 ~ isa (savings for holiday on the 16/4/07)
£198.70 ~ car savings
£54.15 ~ xmas savings
£75.00 ~ approx in my paypal account
£1099.59 :rolleyes:
here is all my bills comes from the bill account ~ explaniation here
£100.00 ~ dca for mum ~ dont give her house keeping
£50.00 ~ excess of house keeping for mum ~ keep for bt bill below as she ran up a debt
£70.00 ~ bt internet and debt (see above) not tied but havnt had time to swap
£48.00 ~ bus cards
£11.00 ~ house insurance
£3.28 ~ bike insurance (tied till sep)
£10.00 ~ car savings (min regular saver cant lower)
£18.00 ~ xmas savings (need this so it will give me £210.00 for xmas)
£6.00 ~ deno ~ charity
now i also have ~
£120.00 ~ driving ~ i need to keep this up really as i have already spent £1600.00 on lessons
£170.00 ~ college ~ i could prob pay this in june but i really want to be accepted on the course (this is a one off)
then i have ~
£9.72 ~ mag subscription (every 3 months, i am sure its due this month, if it is it will come from the over draft)
total = £606.28 - £50.00 (see above) = £556.28
can anyone offer advice? my debt is £446.39 @ 0% for 5 months, i will need to pay the min this month (if this is how a 0% works (never done this before)) which will leave me prob £40 at a push, i can do it just but i now like going swimming so thats £3.10 per week maybe £6.20 depends how many times i go so that will eat up some of that money... my brother is owed me £35 but someone (me) when her tax return came back said she would pay for his driving lincense, so now i cant count that money :doh:
having a real downer today, i seem like i have been working forever and what i have to put up with doent match the wage
i feel like going out and splashing my £65.46 :rotfl:
Might be a silly question but can your Mum help at all? I know you have helped her out on numerous occasions.
All the best xxx
thanks snaggles i know i can do it, but its just i aint going to be liked, everyone at work was planing a night out, i said i wont go but i never go out so i made an exception, now i cant they arent going to like me :rotfl:
no i dont have to pay for food but i dont eat anyway... my mum buys all the cheap high salt/high fat foods so i seem to live of fruit and veg that i buy :rolleyes: well i will be payed 3 days brfore my holiday next month, i suppose i can take my holiday savings down to £80 and hope i have some more money next month i am doing overtime this week (but my line manager didnt wantme too
the only definate thing i can do is not pay for college and pay may/june and just hope they have places left :rolleyes: pushing it though... and i have already written the cheque
Squares: 11, Animal blankets: 2
I know how it feels with driving lessons, you don't want to have a break for fear that your driving will suffer, and I totally understand you wanting to sign up for the college thing now. That is part of you improving your education and moving forward job-wise so i'd say pay that asap!!
Long term though, PAP, the situation with your mum does seem to be putting quite a strain on your finances, I know there are reasons behind all the things that you pay but it does seem a lot. Its hard when you live with family though, I can understand.
Take care
Kath x
Lets see what we can do here!
I have a small confession to being slightly confused with how its set out there...
Is your total debt £446.39?
R.E driving instructor.... I'm not sure why he wouldnt do lessons for one hour? I always thought that was the standard lesson time? Is it possible to push his hand, and say you want to keep going with them but due to cash flow situation you can only afford x per week. And he can either teach you for an hour and have x amount, or he can say no and get no money off you and you find another tutor, cheaper perhaps?
Could you also explain to me the £100 housekeeping and £50 excess to your Mum? I was pretty much lost on that one.
Give yourself some breathing room! And dont for one minute think you dont deserve help/support/a few random giggles from people here. We're all here for you and will help any way we can. Go on, give yourself a big fat hug from us :grouphug:
£11 house insurance, how come you're paying this?
Money in your paypal account, immediately pay this off something! It's not really doing you any favours being in your paypal account surely!
How much is the debt outstanding to BT?
Explain to your brother that you cant afford to pay for his license and that you need the money that is owed to you.
Whats the minimum repayment on your debt?
Sorry for all the questions, but I'm a little bit lost with some of the figures. Please forgive my stupidity!
And dont worry yourself, we'll get you through the worries and you'll see its never as bad as it seems once we've put it through the wash!:A
hope this helps
I have to confess to still being slightly confused.
You pay your mum £30 a week but this month due to dates etc, it's £150?
Because your mum is in debt you're paying her debt for her £100
So are you paying out a total of £250 there?
Or do you pay her debt (£100) in place of paying her housekeeping?
My next suggestion would be contact BT and find out what your credit limit is on your account, and then find out how much money is owed to them.
Secondly whilst on the phone to BT set up a PIN number. If you trusted your mum not to use the phone and she did, then maybe you need to put some restrictions in place so that while you're paying off the debt, more isnt being run up.
I know its odd with BT because even though you think you're paying a lot back, when you work out the service charges that you pay each month, the actual debt amount doesnt seem to go down very much.
Then I would investigate cheaper broadband elsewhere and see if you can save yourself a little bit there. From what I worked out, you're paying BT £70 a month.
I have BT broadband, line rental and a bit toward some calls which costs me £35 a month. Now my service charges are £85 a quarter (just grabbed my bill out) so if you're paying £70, owe them lets say £200, you're paying them back £210, over the quarter
Debt and service charges would mean you'd owe £285.
So after a quarter, this leaves you with £75 outstanding, then next quarter, you'd again be paying back £210 over the quarter, but you'd only owe that quarter £75 from previous bill, £85 service charges, and at the end of that quarter you'd actually be in credit by £50.
Hope that makes sense. But that is all on the basis that you dont use the phone to make very many calls. Hence why I think putting a block on it could ensure you pay it back at the best rate, and not have your mum running up more debt in the background.
I think the joy of 0% cards is that it gives you breathing room when you need it most. However when does the 0% period end, and when it does what does the APR go up to?
My other argument regarding driving would be, stop the lessons (hear me out!) spank the debts as it were, then when things are a bit easier, BT bill is clear, your debt free again etc, save up and do an intensive driving course, you can get these for as little as £350, and a lot will guarantee you will pass, and if you dont, they will keep doing week long courses with you (on them) until you do pass!
Considering how much you've spent on lessons already, maybe now is the time for a definite pass guarantee.
Another point regarding your brother........... he's only got a p/t job? Whats that got to do with you paying for his driving license? I don't mean that to sound cruel but, you cant afford to pay for his license anyway. And if he cant afford a license, then really he shouldnt be having lessons etc. Plus a p/t job still equals some money coming in!
I absolutely applaud and am in awe of how much you appear to be doing on behalf of your family, but like what was said before me, you seem to be doing so at a negligence to your own well being, health and financial state.
What do you work as can I ask?
Do you live in rented accomodation? I'm thinking about your insurance, have you researched if this is the lowest possible? And is it buildings insurance or contents? It may also be cheaper to get insurance solely for particular items.
I would also say cancel your charitable contribution for a short period of time as that will save a little per month, which you can use to pay off debt quicker, and then can continue after your new debt freedom making charity donations.
Another point, insurance on a bike? If you've got a bike, is £48 on bus cards truly necessary?
I hope none of this sounded off key or aggressive, I just see you doing an awful lot for other people and putting yourself at the bottom of the list and I think you need a little time, space, love and affection thats just for you
Sending you hugs!
Think about the intensive driving.It seems a great idea.
Other way you could maybe do it is to have a break til you go on hol & then omce you are back a couple of weeks then you could have a lesson every second day or so to get you back up to speed?
Take care
**Credit card debt free 30/06/10~**
MFW. Finally mortgage free February 2021****
"A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
***Fall down seven times,stand up eight*** ~~Japanese proverb.
It starts with you, it starts from now. *** It is ok to be me.***
***Keep plodding*** Out of debt, out of danger. ***Be the difference.***
I agree with CAFC, you are behaving like an angel and putting everyone's interests before your own.
Family is family but all the same it feels unfair that you are carrying your mum and your brother when your own financial margins are quite tight. I think it's time to say 'sorry, no more' to your brother. Can't he get another part-time job to make up his own wages.
As for your mum, she needs to understand that you are doing your all to get her out of trouble and she needs to take a more responsible attitude. Can you explain to her that you are in debt too now and working your butt off to pay her debts and support your brother. The least she can do is respect your efforts, buy the food you want out of the family food budget, and not run up the phone bill.
I really you manage to get rid of that nasty debt soon. In the longer term, could you get a higher paid job? You sound like a resourceful person and one that I'm sure any employer would be glad to have, so look around for jobs with a better salary.