Where to start?

National_Debtline

How old are the children? The guidelines depend on their ages.

Page 18 of our self-help pack gives you a few ideas:
http://www.nationaldebtline.co.uk/england_wales/pdf/self-help-pack/step-2-working-out-your-personal-budget.pdf

crispycreme_2

Children are 11yrs, 4yrs and 9months.

Domayne

crispycreme wrote: »

So here it is. My SOA.

Statement of Affairs and Personal Balance Sheet

Household Information
Number of adults in household........... 2
Number of children in household......... 3

Monthly Income Details[/
Partners monthly income after tax....... 677
Benefits................................ 1182
Other income............................ 0
Total monthly income.................... 1859

Monthly Expense Details
Rent.................................... 600
Council tax............................. 148
Electricity............................. 54
Water rates............................. 46
Telephone (land line)................... 60 Does this include tv and internet? It seems quite high, can you try looking for a new plan?
Mobile phone............................ 30
TV Licence.............................. 25 [COLOR="rgb(139, 0, 0)"]Is this for 2 tv's or? It's usually around £12 per month...[/COLOR]
Groceries etc. ......................... 500 [COLOR="rgb(139, 0, 0)"]This is quite high...check out the old style board for advice on cooking from scratch, batch cooking and stretching your budget[/COLOR]
Clothing................................ 115 [COLOR="rgb(139, 0, 0)"]every month?[/COLOR]
Presents (birthday, christmas etc)...... 82
Haircuts................................ 50 [COLOR="rgb(139, 0, 0)"]is this also every month?[/COLOR]
Entertainment........................... 140
Holiday................................. 41
Emergency fund.......................... 41
Smokes.................................. 304 [COLOR="rgb(139, 0, 0)"]Any way of halving this? smoking 10 instead of 20 or smoking tobacco instead?[/COLOR]
Newspapers.............................. 13
Beauty ................................. 15
Pocket Money............................ 36
School Trips............................ 21
School Meals............................ 112 [COLOR="rgb(139, 0, 0)"]Can they take a packed lunch instead? Or can you check if they are entitled to free school dinners?[/COLOR]
Total monthly expenses.................. 2433


Assets None

No Secured nor Hire Purchase Debts

Monthly Budget Summary
Total monthly income.................... 1,859
Expenses (including HP & secured debts). 2,433
Available for debt repayments........... -574
Monthly UNsecured debt repayments....... 0
Amount short for making debt repayments. -574

Personal Balance Sheet Summary
Total assets (things you own)........... 0
Total HP & Secured debt................. -0
Total Unsecured debt.................... -0
Net Assets.............................. 0

Created using the SOA calculator at https://www.stoozing.com.
Reproduced on Moneysavingexpert with permission, using Firefox browser.

Just to add on from what others have already mentioned, I've posted in red my advice, not that I'm an expert or anywhere near...I won't tell you to stop smoking because I realize it's not that easy - Also trying to stop myself right now....and failing :rotfl:

crispycreme_2

To answer questions;

Telephone includes internet.
1 Tv on the license
Haircuts are every month. Mine is usually in the £20 bracket. DS1 & DS2 & DP costs £10 each
Yes to packed lunches and cutting food bill down.
Yes to cutting smoking back.

tulip28

Yeah - its SO easy to tell you to stop than actually stopping!

Don't worry - cut back where you can!

I do ALL my shopping in Asd4's, Lid1s, Morri5ons...etc etc - each week I see what deal they have..

MEAL PLANS - make friends with meal plans.

With the smokes - even cutting down would be SO helpful. How much are they a packet nowadays anyway - £8 or something?

Don't fret - you just need to change a few things and you will have more money to throw at your debt.

Also, netfl1x do free month trial - I sign up first, then get my dad too, then someone else in the family does - we have had 4 months free so far. x

crispycreme_2

Debt I know of for sure, shall I add this to SOA?

tulip28

Add everything hun.

Grab your last statements and list what is outstanding with who & apr%

x

Domayne

Not sure what happened to my colors there

crispycreme_2

Majority of my debts are closed accounts. They have been passed around companys and I am now not sure just who I owe what to. Also if there are any who arent chasing me, but still on my credit record & if, in fact they are all mine.

So confusing

retromother

Do you have family meetings? You have a lot of high child related expenses. Last year I sat down with my boys and explained that we wanted to buy a lovely house, but this meant us all cutting back on wants. They were really good about it and are actually very frugal most of the time! My 5yo is always offering me his money box for the kitty bless him.

Generally when you have debt you want to clear you have to be harsh with yourself. We haven't been abroad in six years, we manage butlins when we can get a sub £200 catered week (it can be done if you keep your eyes open), we don't buy many clothes and the kids get school uniforms, basic jeans and whatever tops we find in the sales. I cook everything myself, and get mainly reduced end food that I whack in the freezer. Hubby smokes tobacco and I'm on electrics. Make our own cider and wine. We don't go out, we generally do themed nights at home, ie Harry potter night, where we watch DVDs, serve themed food and drinks etc. I have my girlfriends over for a byob night (I'll make pizzas to eat). Presents are usually from places like home bargains, who cares if they're last seasons toys, the kids still love them!

Most importantly we aren't snobs. We don't try to hide the fact that right now we are poor. And no one cares. Our friends and family still love us.

You can do this. Don't dwell on the past, just look forward!