Desperate for help - reducing outgoings

sarah76

Hi everyone
I'm really desperate for some advice, since splitting up with my partner last august I have been struggling with my outgoings and debt repayments.

While the amount of debt I have is not really a huge amount,(currently about 6.5K) the repayments are almost killing me! It feels like I'm paying off hundreds a month, but I'm not getting anywhere.

Heres my SOA (hope all the figures add up -maths was never my strong point!)

Monthly Incomings:

My salary - £1,116.32
Partners salary - n/a
Benefits - £210.20 (CB for 4 children)

Total - £1,326.52

Monthly Outgoings:

Mortgage/Rent - £320
Council Tax - £38
Gas - £40
Electric - £40
TV License - £11.41
Sky 0 - this was the first thing to go after partner left!
Phone - £25
Food - £240
Car Insurance n/a
Petrol - n/a
Life Insurance n/a
House insurance - £15.25
Broadband -£12.99
Water - Just received the bill (£287.53) and haven't worked out what to do with it yet lol!)
School lunch -£40 (eldest son, younger ones have packed lunch)
Christmas saving - £40
Total - £822.65

Debts
LloydsTsb Loan - £161.68 Balance £2,679.43
Shopacheck - £29 per week Balance £1102.00:eek:
Provident - £10 per week Balance £639.00
Brighthouse - £25.09 per week Balance £460.37:eek:
Lloyds CC - £10 per week Balance £29.36
Citi Card -£5 per week Balance £734.17
Water -£5 per week Balance £518.69
Next - £5 per week Balance £318.75 (this last 4 are with Moorcroft and a lovely man:rolleyes: calls each week for the payment)

Total debt repayments - £518.04 + outgoings £822.65 = £1340.69

So, theres my situation. I really need to make some sort of cutbacks, but can't see where. Any advice would be greatly appreciated.

Thanks in advance
Sarah

Storm

Ok, to be honest I can't see many huge savings here for you - gas & electric are high & can probably reduce - keep an eye on Martin's article on utilities for when to switch, as many are changing their prices at the moment. Shop around for deals on your house insurance & broadband to see if you can get these cheaper and possibly do a packed lunch for you eldest son too. You might be able to reduce the food budget a bit too (check out the Old Style board)

The Christmas savings - is this with a company or just a savings account? Does this cover birthdays too?

There's nothing on your SoA for clothes, haircuts, transport, pocket money/hobbies for the children either (sorry!)

Check you're getting all the benefits you can at https://www.entitledto.co.uk as I would have thought you'd get tax credits too (I'm assuming as the council tax is so low you're getting c.tax benefit)

What worries me most is that many of your debts will be at very high APRs - is your credit rating up to applying for a low LOB or 0% credit card?

misspoppy

I was going to say the same about your income it looks very low and if you aren't getting any money from the childrens father you need to contact CSA.

Can you sell any of the kids clothes or old toys or anything else on ebay.

Don't panic about your water bill you should be able to pay by monthly DD I know its another payment but essential.

have a look on the old style board they have loads of advice on how to run a home and feed a family on virtually nothing.

good luck

sarah76

Hi
Thanks for the reply. Packed lunch for ds is an option, currently battling with him on that one!
The xmas savings is money I give my mum to save for me. As for clothes, I have sold a few of the childrens outgrown items on ebay, and used the money in paypal for replacements.(I haven't had anything new for months lol!)

I had a look at uswitch, but because i'm on token meters, it told me I couldn't switch suppliers - is this right?

misspoppy

token meters are evil. if you aren't in arrears ask to have it taken out they charge so much more than if it was on DD.

Do check you are getting all that you are entitled to have you applied for housing benefit and working tax credits?

sarah76

Thanks Misspoppy
The total for salary in my soa includes tax credits. I can only work part time at the moment because middle son has adhd. My parents are brilliant, they look after the children when I work, but he can be a real handful, and I don't want to take advantage of them.
I will take a look at the oldstyle board. Many thanks x

sarah76

No, no arrears on the meters. I did ring up about a year ago to have them taken out, but they said there was a £60 charge! I don't know if that is still the case. I must ring up again and check it out.

i_am_really_rich!!

Try looking at entitled to. I have 2 kids and work part time(25hrs). My OH and I are currently going through a v.bad patch and talking about splitting. When I looked on this website it said that I 'should' be entitled to nearly £400per month child tax credit as well as the child benefit (I bring home £1000 per month from part time wages). Check your entitlement again because that income seems very low for 4 kids.

lynzpower

if your child has ADHD is this diagnosed? Only you MAY be entitled to DLA for him if this is the case, do apply.

Does your partner live with you? Is there a reason why they are not working or signing on?

EnglishBrainIrishHeart

Sorry, I may have missed this but are you recieveing money for the Kids from the Father?

If not, you know what to do although I would use the CSA as a last resort, you could well end up getting minmal amounts of whatever he is instructed to pay.

Suggest "encouraging him for further payment" if possible, as you do seem to have left yourself quite bare on the cutbacks to be made

sarah76

Yes, he's been diagnosed since he was 6 (he's 9 now) I have applied 3 times for dla, but keep getting refused. It's maddening - especially when I know someone who is claiming it for 2 children with adhd!