Help to sort myself out?

fatmcgav

bess1234 wrote: »

I hate to say this but you seem to think its a quick shuffle about. Why do you over spend? Why did relatively small unexpected expenses start you spiralling into the worst of the worst- pay day loans .

I think you need to face it, and then you ll sort it quite easily, and have a much better life.

Have you a shiny new bike, and a shiny new car, and a shiny new house- but your penniless.

I suspect you have more shiny things you could sell - learn how eBay works, start small as advised above, and crack on dear. There is no easy way out.

Do you add your food money to partners, or is this lunches, takeaways, etc on top of the food shop. Is your relationship at the point to deal with this jointly, and discover her debts. It would be better to wok together on it even if you keep your money separate.

I wish you all the luck ,as it is just needing to start to think about money, and then you will have lots of it to enjoy.am envious, please learn the mse way now.

Bess, thank-you for the very honest response.

To be honest, yes, the true gravity of the situation is only just starting to dawn on me, having read all the responses to this thread and just a small amount of the vast information available on here...

I guess have had a track record of over-spending as when was living in the flat the costs were all lower and didn't have such an impact... However now that we own our own house and want to do things on it etc, the need for better handling of our finances is becoming clearer and clearer... The final bill for moving in, excluding the mortgage, came to about £1000, so not an insignificant amount which certainly didn't help the situation - It didn't cause it, but it didn't help...

The groceries in my SOA is a combo of a household shop, and some lunches whilst at work... Which if I got more organised could probably be reduced dramatically by taking packed lunches etc...

Thanks again for your honest remarks.

Regards
Gavin

matttye

I really think finding an alternative to the car is the best thing you can do short term.

If you give the car back and find a cheap runaround just until you've got enough money to buy a better one, you'll have more to play with each month.

Pixie5740

You mentioned in an earlier post that you were in a car accident. What happened to the insurance payout?

I had acquired quite a few debts in my mid-20s too and I found this snowball calculator useful:

http://www.whatsthecost.com/snowball.aspx

It gives you an idea of when you're likely to repay all your debts, it was a light at the end of the tunnel for me. Then you can play around with seeing what a difference increasing the amount you can put towards debt repayments makes. The additional money can come from taking up one of the many money making/saving challenges on the MSE forums.

Good luck.

fatmcgav

Pixie5740 wrote: »

You mentioned in an earlier post that you were in a car accident. What happened to the insurance payout?

I had acquired quite a few debts in my mid-20s too and I found this snowball calculator useful:

http://www.whatsthecost.com/snowball.aspx

It gives you an idea of when you're likely to repay all your debts, it was a light at the end of the tunnel for me. Then you can play around with seeing what a difference increasing the amount you can put towards debt repayments makes. The additional money can come from taking up one of the many money making/saving challenges on the MSE forums.

Good luck.

Pixie

The bulk of the insurance pay out paid off the outstanding finance on the car at the time. Left about £500 over, of which £310 was retained by insurance co as my Excess, as at the time it wasn't clear whether it would be a fault or non-fault claim... 6 months the 3rd party at the rear finally accepted liability, so the accident went down as non-fault. However to this day I still haven't received my excess from the 3rd party. The case is now in the hands of a solicitor to try and reclaim my excess, plus damages for a dislocated thumb and lower back pain since the accident...

Cheers for the link, will take a look...

And will defo be taking a look at some of the MSE challenges

Cheers again.

Gav

rokchik

Has your partner considered nannying instead of working in a nursery? I'm a professional nanny, (20+ years exp.), and I'm afraid to say I would never work in a nursery, precisely because the wages are so poor - I wouldn't be able to make ends meet! As a nursery worker, she will have gained plenty of experience, and should be able to get some good references, so should have no trouble landing a nanny job. I've never found sole charge nannying stressful, but you do have to pick your family carefully;)
I'm in London, so wages slightly higher, but even taking that into account she will definitely get more than a nursery will pay. I get well over double what she's getting, I only do 32 hours a week, and I get a car thrown in.
Get her to make some enquiries, maybe register with some agencies and see how she feels about it. Best of luck!

fatmcgav

rokchik wrote: »

Has your partner considered nannying instead of working in a nursery? I'm a professional nanny, (20+ years exp.), and I'm afraid to say I would never work in a nursery, precisely because the wages are so poor - I wouldn't be able to make ends meet! As a nursery worker, she will have gained plenty of experience, and should be able to get some good references, so should have no trouble landing a nanny job. I've never found sole charge nannying stressful, but you do have to pick your family carefully;)
I'm in London, so wages slightly higher, but even taking that into account she will definitely get more than a nursery will pay. I get well over double what she's getting, I only do 32 hours a week, and I get a car thrown in.
Get her to make some enquiries, maybe register with some agencies and see how she feels about it. Best of luck!

Rokchik

Cheers for the suggestion. I have mentioned nannying to her in the past... Sounds like worth another mention though

Cheers
Gav

fatmcgav

Afternoon all

Well, firstly apologies for not having posted recently... Things have been crazy busy with work etc...

Anyhow, updates since my last post...
Well I had 'that' discussion with my parents, but unfortunately they're not in a position whereby they can help me out of this predicament... Therefore I'm on my own, so to speak...

Since my last post, I've also opened a new Easycash account with Halifax, and have got my wages redirected into there. I've also cancelled my card and CPA's on my old account where the PDL's are due to be collected from...

So that leads onto the fact that 'today is the day' whereby my 2 PDL's are due... I've already had an email and voicemail from Wonga. Nothing from QuickQuid as yet though, but they're only trying for £100 today of the £600 outstanding...

So I've just completed a I&E form on the Wonga website, and their offer was to spread the outstanding balance of £1382.22 over 2 monthly payments of £662 plus a final 3rd payment of £58.22... Not guna happen... I've worked out that probably the most I can commit to repaying to Wonga is £150 pm...
So looks like I'm going to have to email them directly rather than using their only 'Repayment plan' form.

Will post up later once I've sent my emails and if I get any responses...

Wish me luck...

Cheers
Gavin