SOA loss of business/new baby hardship

[Deleted User]

What exactly are these baby groups?

kimi1977

Car: used for shopping, business , collecting boxes for work
baby groups visiting family
Do we need the car every day No. About 2 days a week Yes
Baby groups : are sign language , social groups
these are important for my partner and baby.

Oct 2013. - Sept 2014
For those 11 months I would be apply for jobs,
Running Improving existing business at home.

Another factor is that I take humira which is not fully funded
In Wales so depending on the results / damage on inspection
of my bowel in a few days will be another deciding factor
In what happens in next 11 months , as I would need to go back to England for medical funding.

So many plates spinning

cutestkids

depending on the distances that you have to travel you may be cheaper using a combination of taxi and bus than you are running a car then.

[Deleted User]

kimi1977 wrote: »

Baby groups : are sign language , social groups

Not wishing to sound facetious or anything, but I believe we are talking about a 6 month old baby?

What's wrong with the baby interacting/playing with the parents, family and friends?

When I was a child, it was the parent's job to keep a baby stimulated.

ETA: You really need to do something about your overspend NOW, not in 12 months.

In 12 months, you will still have debt payments, of over £400pm, to make, AND arrears/further debts of around £5,000.

cutestkids

I would agree that the baby groups are something that you should try and continue with if possible especially if your OH has PND it is essential that she has contact with other mums if she can but the car really is using up a huge amount of your monthly income, is it really so far away that she can't walk and sometimes use a bus.

kimi1977

From my OH
For bob:

I do stimulate the baby, and I go to groups so that I'm not stuck in the house all day. We recently moved here and I don't have friends so need to make them, and family all works and lives 30 mins away.

For cutest kids: I don't use it that often just once or so a week


From my point of view I purely want to look at the financial
aspect , balance transfers , can we lease hire couple days a week etc

I do need to act now -
I am applying for jobs so something may change soon

strandedinaber

Is there any chance you might be able to cut down on grocery shopping? Try switching down a brand - for example, if you're buying normal store tomatoes now, switch down to basics/essentials. If you're already using the cheapest brand, try switching down stores, i.e. from Tesco to Asda or Lidl. There's some great advice in the grocery section on bulking out food, i.e. making a mince last longer by adding lentils, that kind of thing.

Agree that the baby groups are important for your partner - if she is already struggling with PND, spending all day in the house will make it worse. Are there any free options around instead of (or as well as) the ones that charge? Try looking at your local library - they will do things like reading sessions for kids and so on, and some do mother and baby groups as well. Speak to your local midwife or GP surgery - most maintain a list of events for new parents.

cutestkids

What is the agreement that you are tied to with the leasing company are there any penalties for returning the lease car mid term.

Is the car leased through the business or is it a personal lease.
Is the business a LTD company or are you a sole trader.

If you are needing the car to go to the suppliers fr stock how often are you going?, could you perhaps go once a month for stock and take half day or full day van hire to get a large amount.

You have to weigh up if that is going to be cheaper combined with using public transport to get to family, friends, groups etc instead of the car.

If you have any leeway at all on the cards I would do a balance transfer to the cheapest one and commit as much as possible to paying it off.

For cutest kids: I don't use it that often just once or so a week that is my point really, a huge portion of your income is going on the car which seems to only get used a couple of times a week so if I were in your shoes I would be looking at ways to cut that down if I could hand the car back and use a combination of bus, walking and the odd taxi for a while I would.
If you can put a bit away each month and buy an older car cash in a years or twos time then you would not have the high monthly payment to worry about.

kimi1977

Shopping: We shop at Aldi, and already use the cheapest products, my partner (being a good welsh cook) cooks a lot of things from scratch, there are some Tesco shops but rarely. (shop budget includes baby food)

Baby groups - One group is Free , the other group that costs a pound, and the sign language group was paid by family. So the baby groups are not an issue for me, as they are not far away.

Leasing agreement is : The car a honda jazz £250 pmonth comes to the end of the lease December 8th . 'So I have the choice of handing it in, not having a car, keeping it extending lease, or getting another car/cheaper car.

The business is a LTD , the car is personal lease.

I need to pickup stock perhaps once a month, then go to take stock 3 or 4 times per month.

In terms of buying a car in a few years time, that is not the issue, we are talking an 11 month span - my partner will be working 12 months from now in France then back at ~Uni the year after - so during that time I could lease again and things may be more balanced with a new business or job by then anyway.