Hello everyone ..new and dont know what to do

Easterbunny

You have all inspired me to throw myself at your mercy and see if you can help me out with my debts. My head hurts so much with trying to figure it out - thought scratching other people's might give it a bit of a rest!:D

Fed up as dont seem to have the money to sort out when things go wrong (like now as need 2 new front tyres on car - desparately :eek: ) really really really dont want to put on credit card but think this will be only way..

My SOA is as follows:

Monthly Income - £1668.81p

Me Salary £682.06
Partner contribution £865.95
Child Benefit £120.80
Tax credit - application being assessed (will only be minimum i guess)

Monthly Outgoings - £1400.54 (£1635.54 this month due to tyres and elec - see below :mad: )

Mortgage £559.08 (interest only)
Elec £45
Water £42.37 (water meter being fitted soon :j )
Poll Tax £127
TV £11.41
Phone and internet £34.99
House insurance £24.44
MBNA Loan £282 (£18,500 left 5.9%apr over 7yrs unsecured)
Lloyds TSB Loan £75 (£5,000 6.40% over 7 yrs unsecured)
Asset Visa £108 £5,400.79p(currently on 0% 6mths)
Me Life insurance £34.90
Specsavers £22
Tax credit repayment £34.35 (ends Sept 07)

£117 electricity repayment (last payment this month :j
2 font tyres for car £118 :mad: (cheapest can find fully fitted)

Whatever left is to feed me, OH and 2 kids (11 and 8) 1 dog, 2 cats, 1 rabbit and 1 guinea pig (could always BBQ Guinea pig i guess :rolleyes: ..joking!)

Have tried so hard to keep out of overdraft at bank but will creep into it this month I think.. or otherwise succumb to using credit card which really really dont want to as want to ditch that. What do you guys do in situations like this when you need to get extra cash in emergencies.. just cant seem to save anything for a rainy day.. All suggestions gratefully received...:o.. and sorry for rambling on...:o

littlekitten

Hi,

Fist of all welcome and well done for posting I know it must have taken alot of courage.

some other more knowledgeable people with will be along with some advice sonn. But in the meantime a couple of thoughts.

Water - this should go down when you go onto a meter if you're careful with water mine is now £12.00 a month down from over £30 pre meter.

Eas & Elec - HAve a look on one of the comparison sites to see if you have the cheapest supplier - use uswitch or another to switch and get cash back too.

Home Insurance - you may be able to get this cheaper - try using quidco as well so you get some cashback too.

Specsavers - Is this for contact lenses ? if so I order mine over the internet and save a fortune ... If you ask Specsavers will give you a copy of your prescription and you can then go online and see who is the cheapest for your type of lenses.

For food etc... you really need to keep a spend diary to get an idea of what you are spending your money ... also try meal planning the Old Style board is great for this.

xx

frugalpam

Hi Easterbunny and welcome to a great forum !! There a lots of people who will help you, esp regards how to tackle your loan repayments, but I've just added in a few things in red that you could be looking at. I'm sure you could cut down on your outgoings without actually having to deprive yourself of anything!! I cut my monthly outgoings down by almost £150, just by doing what I'm advising you to do!

Easterbunny wrote: »

My SOA is as follows:

Monthly Income - £1668.81p

Me Salary £682.06
Partner contribution £865.95
Child Benefit £120.80
Tax credit - application being assessed (will only be minimum i guess)

Monthly Outgoings - £1400.54 (£1635.54 this month due to tyres and elec - see below :mad: )

Mortgage £559.08 (interest only)
Elec £45 - shop around for a better deal - that's expensive!
Water £42.37 (water meter being fitted soon :j )
Poll Tax £127 - you could investigate whether you should be in a lower tax band
TV £11.41
Phone and internet £34.99 - again, shop around for a better deal. I pay £30 to VirginMedia for phone, broadband and tv XL package
House insurance £24.44 - you can probably get it cheaper. The Post Office have some great deals with cashback, even cheaper if you apply through Quidco
MBNA Loan £282 (£18,500 left 5.9%apr over 7yrs unsecured)
Lloyds TSB Loan £75 (£5,000 6.40% over 7 yrs unsecured)
Asset Visa £108 £5,400.79p(currently on 0% 6mths)
Me Life insurance £34.90
Specsavers £22
Tax credit repayment £34.35 (ends Sept 07)
Have you reclaimed bank charges (if applicable) - I'm due almost £1000 soon from Natwest!!
£117 electricity repayment (last payment this month :j
2 font tyres for car £118 :mad: (cheapest can find fully fitted)

Whatever left is to feed me, OH and 2 kids (11 and 8) 1 dog, 2 cats, 1 rabbit and 1 guinea pig (could always BBQ Guinea pig i guess :rolleyes: ..joking!)

Have tried so hard to keep out of overdraft at bank but will creep into it this month I think.. or otherwise succumb to using credit card which really really dont want to as want to ditch that. What do you guys do in situations like this when you need to get extra cash in emergencies.. just cant seem to save anything for a rainy day.. All suggestions gratefully received...:o.. and sorry for rambling on...:o

As I say, others will be along to tell you about 'snowballing' your loans and credit card debts - it seems to work really well.

Stick around and keep us posted - there are always solutions to these money problems!

Pam

Easterbunny

Thanks so much for coming back so quickly - and for your advice -feel stupid should be enjoying Good Friday - got up and felt like bad friday! All can think about is how going to afford tyres for card - stupid I know.:o

Will look into all your money saving ideas - it was worth scratching someone elses head:D

Thanks so much

frugalpam

Easterbunny wrote: »

Thanks so much for coming back so quickly - and for your advice -feel stupid should be enjoying Good Friday - got up and felt like bad friday! All can think about is how going to afford tyres for card - stupid I know.:o

Will look into all your money saving ideas - it was worth scratching someone elses head:D

Thanks so much

Good for you! Scratch away - that's what we're here for!!
Honestly, you'll be amazed how much money you will be able to save yourself. I'm so glad I joined this forum!
Now.... enjoy Good Friday and think about easter eggs as you check out those sites. Here's a few links to get you started...

http://www.quidco.com/
http://www.moneysavingexpert.com/utilities
Reclaim your bank charges
Council Tax cost cutting
www.pigsback.com
Insurance deals

Pam

emzig123

Hiya, if you use the snowball calculator at https://www.whatsthecost.com you can work out a debt free date. Well done on posting a SOA, keep coming back for help!

Easterbunny

Cant thank you enough for replying, especially on a easter bank holiday weekend - will check out the links. I think you just get to the point where you feel so alone and sick to death of thinking about it all. Takes up alot of your headspace some days.. Nice to know you can share some of it here:D

Will let you know how get on!

Am in process of xfering bank account to an Alliance and Leicester one - have been accepted :j so just waiting for it all to come together. Am allowed 0% overdraft for 12 months (and know I shouldnt think like that .. but would have helped out with tyres if happened bit sooner .. never mind.

Here's to the start of kicking debt into touch :beer:

Happy Easter X

elantan

i got my tyres last time ffrom a breakers yard they worked out alot chaper i was paying £117 each and got them for £50 each fitted if that's any help

Easterbunny

Wow - certainly worth looking into! Thanks for that:T

Have just checked out Pigsback for house insurance - can get it down to £15.60:j Just need to check out I dont have any nasty leaving clauses in my current one.. cant see why I should - pay monthly DD so should be able to just leave?! Not due for renewal til next year - just stupid to let it roll on with current insurer



:EasterBun

elantan

deff worth doing ..i'm due for renewel in june so looking already ...loving quidco and pigsback ....got £80.56 from quidco last month ....have you checked quidco as well

Easterbunny

... no but next place i'm heading ..click..