Budgeting Service?

AngelPie78

I don't think I can sell it? I dunno. Maybe...

Also, have already been "kicked out" once in the last year and it's a myth that the council will help you. They didn't help at all. In fact, they were LESS than helpful. Hence why I don't want to get into that situation again...The council were more than happy to see me and kids on the street or living in a hostel with druggies and criminals *shudders*.

AngelPie78

getmore4less wrote: »

Don't use the money for rent that does not solve the problem.

That's where the longer term plan comes in, the debts will have to wait and gets what left(if any) when the essentials have been paid.

This needs a proper look as the self imposed DMP(just not pay) will probably never work so unless there is a serious chance of a large increase in income the bankruptcy option may be a serious solution going forward.

The people that know this stuff frequent the Debtfreewanabee board.

Did you mean not worry about the debt?? Or the rent? Am confused.

I also can't declare myself bankrupt as there is money tied up in my ex's house which will result in him losing the house if I declare myself bankrupt. Waiting for the solicitors to sort that out. Also, I can start paying off the debt if I can get out of this cycle...

CLAPTON

does the father of the children support them financially?

getmore4less

It is not clear that you can actual balance the budget long term never mind short term.

eg: why is the council tax only £5?

The equity you say is yours needs to be on the SOA?
How much equity when will the place be sold to pay you your share.
Why are you not living in it


You are short of money now so prioritize who gets what little there is.

May be time to drop the mobile and cut the land line/internet etc.

Rent may be down the list, you prioritize what you think the order should be (although the min payments on the council tax may be worth keeping if that keeps them off your back short term)

When money comes in you allocate it to the priority essentials to cover them to the next lot of income, and only when that comes in do you look at the lower priority stuff.

You need to preserve cash to pay for the essentials.

Also what is the breakdown of the income it would be helpful for people that know about things like benefits and an idea of cash flow in would help with the planning, you can't ignore it, you have to deal with the short term and the longer term together and have plan.

getmore4less

AngelPie78 wrote: »

Did you mean not worry about the debt?? Or the rent? Am confused.

I also can't declare myself bankrupt as there is money tied up in my ex's house which will result in him losing the house if I declare myself bankrupt. Waiting for the solicitors to sort that out. Also, I can start paying off the debt if I can get out of this cycle...

Threat of bankruptcy may make them buck and free up the cash.

how much is there due,

This needs to be part of the longer term plan.

AngelPie78

CLAPTON wrote: »

does the father of the children support them financially?

hmmm well I have "joint" custody of my two boys so "technically" only have them half the time and we go half on all their expenses. Which is almost fair, except my ex brings home twice as much as me, works full time and gets one of their child benefits as he feels he can't afford them...it's a point of contention [as you can tell!] but no, he doesn't give me any money towards them and I can't get him to because he has "joint" custody...

My daughter's dad refused to give me any money so pays her an allowance every month which goes into her bank account.

getmore4less

Mobile

look at OVIVO, is free after you pay £20.

www.ovivomobile.com

AngelPie78

getmore4less wrote: »

Threat of bankruptcy may make them buck and free up the cash.

how much is there due,

This needs to be part of the longer term plan.

good idea. tried that. caused SO many problems, family members not talking to me, him arguing that I have a right to our house etc etc. I just left it with the solicitors. I got so ill from it all that I must admit, I've just left all that for the time being. The plan is to review it in April, when I've stopped uni for the summer. I WILL get onto that.

Technically, I own £10,000 of the house [which is almost all my rent for the year!] but he doesn't have it, refuses to re-mortgage or borrow it from his stinking rich parents so am stuck. If I go bankrupt, then HMRC can force him to sell his house to release the funds. He thinks it's an empty threat but that's cause he's a bully. Hence, why we're divorced!

In all honesty, I guess I keep thinking that things will get better and so I won't have to do it but am not sure what to do.

Making him sell the house would just be spiteful and petty, and I've not stooped to his level over the last two years, so I don't really want to do it now.

I understand your point though and it is there to do something with. x

AngelPie78

getmore4less wrote: »

It is not clear that you can actual balance the budget long term never mind short term.

eg: why is the council tax only £5?

The equity you say is yours needs to be on the SOA?
How much equity when will the place be sold to pay you your share.
Why are you not living in it


You are short of money now so prioritize who gets what little there is.

May be time to drop the mobile and cut the land line/internet etc.

Rent may be down the list, you prioritize what you think the order should be (although the min payments on the council tax may be worth keeping if that keeps them off your back short term)

When money comes in you allocate it to the priority essentials to cover them to the next lot of income, and only when that comes in do you look at the lower priority stuff.

You need to preserve cash to pay for the essentials.

Also what is the breakdown of the income it would be helpful for people that know about things like benefits and an idea of cash flow in would help with the planning, you can't ignore it, you have to deal with the short term and the longer term together and have plan.

Council tax is actually nil as i am a student. And I made an error with one of the figures (the tv/internet/phone one) all of my financial paperwork is filed and pretty much organised. I just don't bother budgeting because I know the money isn't there so it seems completely pointless. I know I can't "catch up" with the household bills so just throw my hands up in despair and give up.

I'm not living in the house because it's in my ex-husband's name and always has been because I have always had bad credit. I left him because he was a bully and our relationship was awful. I had to leave my well paid job because of him and he caused me to have a mental breakdown as he caused me a lot of emotional pain and I lost the plot last year [which doesn't help]. He doesn't even think I should have ANY share of the house, even though I'm on the Land Registry and there's a Trust Deed on the property, and I lived in the house with him and our children for six years and fully contributed to the household finances when I was working. The only time I didn't work was when I was on maternity leave to have OUR sons. I have a document that he's signed, agreeing that I have a £10k stake in the house. My solicitor says I am entitled to that if he sells, remortgages, remarries or when our youngest is 18 (in 13 years' time) Getting it before then is going to be near impossible - see other post.

In terms of mobile/land line/tv, I'm in contracts with all of them and, while I completely see your point of view, I don't smoke, drink or go out very often so seeing that having a good home life is really important for me and the kids. I'm also doing a computing degree, which involves the internet heavily and can't be in uni all the time. I wouldn't be able to study unless I was at uni so would have to walk there and back around the kids school and would not have time to do my degree.

I'll edit the SOA with the breakdown of my income - that's a good idea. x

dreaming

OK - I see that looking at the big picture is a bit overwhelming right now, and you are concerned about the next few weeks, so it might be helpful to write down how much money you have now, how much you will have in the next couple of weeks, then how much in the next month or so. Then write down what you absolutely have to pay out. Forget about holidays/presents/clothes/debt payments etc. for now, just look at real necessities. Looking at your SOA I would say that you have about £700 (excluding rent but cutting food bills down to 150), so offer the landlord the £60 (you say you have 760 between now and then). If you can cut petrol costs down then give the landlord a bit extra. Look at where you can reduce your monthly outgoings for the future (car insurance is extremely high), and walking the kids to and from school, even at an hour and a half, is not undoable (not nice when the weather is bad I know but there are some dry days).
If your daughter receives cash from her father then can she not use that for her clothes/phone etc.? Or could she get a job babysitting for a bit of pocket money.
You say you are studying computing so could you use those skills to set up a cashflow spreadsheet for when bills are due/when income comes in etc., and do it on what you actually spend. SOA's are good for budgeting but don't always help to prioritise payments when you are up to your neck.
I wouldn't worry too much about your ex losing the house, or what family members might say. Right now your focus has to be you and your children.