Single mum - need advice please (soa posted)

tallullahbelle

Water rates look high- could you go onto a meter? There are 4 of us and my water bill went from £54 per month to £25 on a meter.

newmum1

Are you sure you are getting all your entitled to do you get tax credits as well as working tax? You should check your award that they have the correct salary information. How much are your nursery fees a week cause they look very high?? How many in your family cause your food looks very high and you could maybe reduce this.

magentadreamer

I'm probably repeating what many have said.

WFTC - with the levels you pay out on childcare I really would have thought you'd be entitled to a bit more help. I'd give them a call to ask ASP.

CSA - Harrass them! If your Ex did pay something even if it was only a tenner a week it'd help you.

Childcare costs - Ouch! Could your parents perhaps have DS for say another morning a week ie they took him in at lunch time to nursery. I know it's hard asking for more help but if you perhaps told them you were struggling a bit, they might be able to help out a bit more. My DD went to a nursery, but have you thought about looking at a childminder instead, this might be a cheaper option.

DVD rental - I do know what you mean about having a vice. Perhaps you could cancell it and do as others suggest and use the quidco links? Once you've cancelled the gym in August you could use a bit of that savings to reset it up.

Prudential - is this life insurance on your mortgage? If so can you get it a bit cheaper else where and for the full amount?


Mobile - is this PAYG or a contract?

Landline - are you out of your initial contract period with Talktalk? if so have a look around and see what other packages you can get that might be cheaper. Then you could ring them and point out you're going to leave. Works a treat with NTL/Virgin Media One day they might just say Ms Dreamer please leave as we can't take any more of your I'm gonna leave calls....

Contact Lens - cold you go back to glasses? Or lens that weren't disposable?

Credit cards - I'd suggest a min payment DD just so you don't end up with any more late payments. Until you can find a home for the Virgin Balance I'd suggest paying as much as you can of the £100 you have set aside for the cards

Egg savings - can I suggest this becomes your household insurance/car tax/oh god I forgot about that quarterly DD fund. I used to have regular OMG moments in Jan,May,Aug and Nov when I'd get stung for all sorts without a little fund to help pay for all of those !!!!!! I forgot about that DD outgoings. Also Egg savings doesn't have the best interest rate have you thought about opening an ISA and getting the most out of any interest ok it won't be a great deal but why pay tax on it if you don't have to? It might only be a £1 or so but it's your £1!

Food - Ouch! Do you have a lidl, Aldi, netto near you? I was amazed. Also some of the shop brand nappies are way cheaper. I found that shopping armed with a list really helped me cut back.


Good luck x

beanielou

Think everyone else has said everything before me.
The two things that really jump out at me are your childcare costs and food.
Anyway take care

ElleWoods

I actually don't know where to start replying as you've all been so kind and full of advice. As I've had so many replies I'll do a blanket reply rather than replying to individuals, but rest assured I really appreciate every single one of you taking time to give me advice.

Mortgage - am tied into fixed rate until next April. The one I have was the best rate at the time when I remortgaged last April. I can't even extend it over a longer payment period as I've got it over 32 years as it is (taken out when I was 33).

Nursery fees - these cost £38 per day, so they are expensive but my DS loves going there and it's really important to me that he's somewhere he enjoys and they are great with him. Not being funny but I don't like the idea of childminders, think it's because although they are registered, you don't know who might come to their house in the day. No offence to any childminders, just don't like the idea of it.

As for my parents looking after DS more than 2 days a week, well they are elderly (dad just turned 70, mum 4 years younger) so I don't want to ask them to do that, I know they find it tiring looking after DS for 2 days as it is!

Credit Cards - I've just transferred my Egg credit card to an HSBC 0% card but the limit is £3k so can't transfer the Virgin balance to it as well as not got enough credit. Maybe I should apply for another 0% card? Or would I be better off consolidating both these cards onto a loan?

Groceries - I'll definitely look into shopping at Aldi, Lidl etc, as there is only me and my DS in the house so my grocery spend seems very high based on what some of you have said.

Contact Lenses - will look around to buy online as I've never thought of that, so thanks to those that suggested it. Can't resort to glasses as my only pair is about 5 years old and aren't the correct prescription so I only wear them in emergencies.

Savings - Will think about cancelling my savings and putting it towards my debts, as saving £30pm isn't exactly making me a fortune anyway, so it could well be better spent on the debt.

Tax Credits - have put both WTC and CTC together but as a few people have said it seems low I will give them a ring. Get my P60 at the end of April so will wait till I have that then do it then.

Mobile - I'm currently on a contract but will definitely look into going PAYG, that's a really good idea. Not sure if I'm tied in until July so will check.

Lovefilm - will cancel this month and look into getting freebies via Quidco.

Water rates - I'm already on a meter! As this seems high to some of you I'll give them a ring to see if I can reduce the payments.

CSA - I'm harrassing them as much as I can (ringing every fortnight) and have even got my MP involved to push it along. My ex is lying to the CSA though which doesn't help and even if they do an assessment for maintenance, I will definitely have another fight on my hands to get him to actually pay.

Prudential - definitely need to sort this out and look into a better deal to cover my full mortgage amount.

Debt Management Plan - not sure about having one of these as I understand it affects your credit rating and I'd be worried about not getting accepted by mortgage lenders when I need to remortgage.

Counselling - I was told the NHS waiting list was 9-12 months so decided not to wait. I'm half way through my 12 month therapy now so don't want to change to a different therapist as she is fab.

Bank Charges - I'm in the process of reclaiming my bank charges from HSBC but they haven't sent the statements through yet. Hoping that when they do I'll be able to claim at least a few hundred back.

Ebay - I've taken photos of all sorts of items today that I can list on Ebay, will also look into Amazon too as got some books and DVDs to sell.

Since posting here last night I've been wondering if I'd be better off working part time, say three days a week, and only putting DS in nursery 1 day. Maybe I would even be entitled to some form of benefits then too. Think I may do another post about this to see if anyone has any experience of this.

Once again thanks to everyone on here. Time to start saving some money now!!

CC
x

Woodyrocks

Really good advice already on here but just want to suggest shifting your gym membership on gumtree. There is no point holding on to it if you are not using it and if it is a good deal as it is, something else will want it.

ElleWoods

What's Gumtree? Never heard of it! If you mean to transfer my membership to someone else I can't, because it's non-transferrable. I've already looked into transferring it!

Thanks,
CC
x

Curious_Moose

Can you take a lodger? Not ideal (especially with a child I admit), but potentially easy money to tide you over a rough patch.

ElleWoods

Don't have the room for a lodger I'm afraid! Thanks for the suggestion anyway.

misspoppy

HI

have you spoken to Virgin and asked them to put your membership on hold until Aug, you pay a small amount and can't go but its a lot less then £40.