What will happen next April?

Froom2

I'd like to apologise in advance for this rant. I'm horribly worried about the future and I just need to vent everything. I figure if I post it here, there is a chance that someone can point out any errors in my knowledge.

I earn 1149 a month. I live with my unemployed boyfriend, who is studying for a degree with the OU.
Currently we get £97 a week working tax credit. Essential bills including rent come to £700. Adding tv license internet, and the gold card that gives us breakdown cover, and allowing 200 a month for food (we don't usually use that much though!) takes it all to £950.

Currently that leaves me with about 600 spare each month, which is fine - more than enough. So I am saving as much as I can because....

Our rent is stupid cheap. We are very very lucky and have a superb landlord and on top of that only pay 300 a month. The average for where we live is 500 a month for a 1 bed flat.

Next year, our working tax credit will drop and virtually disappear because I will have had a year on 16.5k a year.

Now, as I tend to do, I am planning for a worst-case scenario here, basically 'What would happen if we had to move house for any reason, and my boyfriend still can't find work?' Which is actually possible because I'm only on a year fixed term contract.

Given that I'd be getting a maximum of about £10 a week WTC, and assuming I have to pay £500 a month in rent (I'm praying we wouldn't have to move further south), and still 200 a month in food, we'd literally have the £40 a month from the WTC left over. I'm not even counting the cost of diesel here.
If I get zero WTC, we'd have nothing left, and still wouldn't be eligible for any help because of my salary.

What the bleep am I supposed to do. I'm already on anti-depressants because of money stress from before I discovered WTC. I was crying when I found out I'd get WTC, it meant so much to me.
We do not live extravagantly. We hardly eat meat because it costs too much, we don't go out, we have a bottle of beer each every other friday or so as a treat, we don't get takeaways unless it's a treat, we don't go on elaborate holidays. We don't do anything. This does not feel like life. I am supposed to be able to save for a family and to have a little family home. I have a degree for crying out loud. So I don't know what will happen next April when I lose the WTC.

I know I am not entitled to anything - anything I do get is a bonus and I certainly do not take it for granted. But still, I feel like we are going to fall into a gap and it is very very hard, and I am really terrified of next April.

Unless there is something I'm missing? I'm really hoping that the man gets a job of course. Then things would be fine. But it has been six months, so I'm not counting on it.

clearingout

what is stopping your boyfriend from working even part-time to help out?

Froom2

A lack of job offers. But don't even get me started on that one, it isn't straight forwards and involves some pickiness and stubbornness on his part. Mostly, he is very unwilling to take advice. He is very proud. A plasterer by trade, and sadly it seems to be tough to get work of that kind currently in this area. I have tried to talk to him about it many times, and how he could get part time work in a bar or anything. Anything to help.

Please consider that issue a work in progress. I am continuing to.. encourage him. In as constructive a way as I am able.

Dunroamin

I think that you're aiming your anguish in the wrong direction - it really isn't tax crediss fault that your BF doesn't work.

Why might you have to move and leave your cheap flat?

caz246

Froom2 wrote: »

Currently that leaves me with about 600 spare each month, which is fine - more than enough. So I am saving as much as I can because....

That is what you have spare after you have paid everything? That is ALOT of spare cash, I would be aiming to put at least half of that into savings if you can. If you do that for the next tax year you should be comfortable until your bf finds a job.

Froom2

Yes I agree, it is a lot spare. At the moment I am putting about half a month into savings from it. I have built up enough, with some savings I had from before I was a student, to last a few months if the VERY worst happened (neither of us has a job and neither of us can move home for some reason). It is what I think of as my hurricane money... more emergency than rainy day money.

I know it isn't the fault of WTC, but what if he just can't find a job Things don't seem to be getting any better so it is possible. And he is trying.

So what happens, if things carry on like this past the savings I put away now?

I know we can get cheaper internet, we can eat less... but that would only shave thirty odd quid off things and if the worst happens, what then?
I might have to move out of this flat if I don't get an extension to my contract. In which case we will have to move back to our respective parent's homes while each of us looks for a job anywhere, and then move wherever that is (whoever gets a job first). Which means anywhere in the country. We aren't picky. But that would mean higher rent, probably on the same salary.

Does that make sense or do you think I'm panicking irrationally? :S
I know that there are things that can be done to avoid this situation, mainly him getting a job, but if it comes to it, we'll be up the proverbial creek without a paddle. And then, and I can see it happening, I'll have to borrow from my parents just to cover basics, and they don't really have very much to spare either.

Above all, I don't want to get into debt.

Jennifer_Jane

It sounds to me as if you are the practical one in the relationship, and he is, essentially, not just living off your income, but letting you be the only one worrying about things.

When will the boyfriend be finished studying? I can understand that you feel for this lad, but he should at the very least be paying for his food, utilities, half the council tax and so on, and you should be saving (paying yourself first). If you broke up, he would have to do this.

If you increase your pension payments that reduces your salary level, and it is perfectly legal and morally correct in that the Government wants you to pay for your retirement, and becomes taxable at retirement.

PoorCharleyBear

it is always good to plan for the future, but there seems to be a lot of 'what ifs' in your post.

What if we have to move?
What if the rent is dearer?
what if my boyfriend cannot find work?

etc...
seems as though you are panicking over something which may or may not happen in 11months time.

easiest solution is for your boyfriend to get any old job. If WTC are only 10 per week, he could easily earn more than that surely? Even delivering papers?

Froom2

Yeah I think you're right. I think I will try and put the angle to him, that he shouldn't worry about taking any old job, because he is studying and people work anything while studying... even if only to pay for alcohol or in this case, bills and your girlfriends sanity...

If I play that angle, then hopefully he will lower his pickyness. See it as supporting his study.

Thank you everyone for your responses, you've all been very helpful. Times are tough at the moment and it's very easy to panic. Especially if you are already predisposed to anxiety!

~Froom~

mynameistallulah

Froom2 wrote: »

A lack of job offers. But don't even get me started on that one, it isn't straight forwards and involves some pickiness and stubbornness on his part. Mostly, he is very unwilling to take advice. He is very proud. A plasterer by trade, and sadly it seems to be tough to get work of that kind currently in this area. I have tried to talk to him about it many times, and how he could get part time work in a bar or anything. Anything to help.

Please consider that issue a work in progress. I am continuing to.. encourage him. In as constructive a way as I am able.

Get rid of the waster - that's a good chunk of your outgoings saved.

BigAunty

Lots of 'ifs' in your worries, set well ahead in the future when noone on this forum will realistically be able to give you much hard info in the way of predicting housing benefit changes, the move to the Universal Credit system and so on. Far too many variables to worry about in nearly a year's time - you might have a promotion, your boyfriend may have a job, you might still be in the same property.

Right now, why don't you try and take control of your budget right now by reducing spend and increase income rather than cycle through your head various pessimistic scenarios way ahead of time - download the MSE budget planner and work through the site to identify how to slash your spending further. You say if you did a few steps now you'd 'only' save £30 but you might be able to pare it back considerably.

The other option to do now to make life easier for the future is to increase income - seems you have to encourage your boyfriend to share the worry and take some financial responsibility by taking on casual employment which very many students do as a matter of course without feeling self conscious of the low status employment.

So focus on the present which will help you prepare for the future when it actually arrives.