Should i get a wonga loan

heartbreak_star

Sorry I am another one of those saying sell the caravan...go back to a tent for a while!

HBS x

summer33

Butti wrote: »

Hi.
Well done on doing an SOA.

Have you spoken to your mortgage provider about making that element cheaper in the short term. I was unemployed or a student btwn 2010-12 and my lender;
- Gave me a payment holiday
- Then gave me a period of interest only payments
-Then extended the term so the amount dropped by £130 per month.

They were an absolute godsend.

B x

Thanks for that. I am almost sure we are on a interest mortgage anyway you know. I think will have to ring the mortgage and see if they can let me pay less this month, and then for march with the food savings, hopefully will be in a better position next month. I have listed 2 things so far on ebay that hopefully will bring in at least £100 if they sell well.

summer33

Maysie wrote: »

buy the mirror tomorrow and get a £5 voucher of a £40 spend at aldi
https://forums.moneysavingexpert.com/discussion/4906971
they normally have a few other special offer vouchers as well like half price something or other.

If your near a Waitrose sign up for their free card. This month i have been sent vouchers for half price cleaning products and a FREE own brand cleaning product in their essential range. Which i use anyway as they are really good. free tea or coffee when you shop even if you don't buy anything .

Selling things on facebook selling groups is easy. If you don't want people you know to see this then use a new id or call it a declutter. You find it by searching for your town/city name and selling or for sale and usually a few pop up. I have a change pot ready by the door for sold money. Handy for the kids little bits and bobs and does not come out my budget. I am thinking of a shoe cull this week.

Oh thank you so much for this advice. I will certainly buy that paper to get the voucher, that will come in handy.

I know what you mean about the facebook thing, and not wanting people to know what you are selling. I will try that search though and see how i get on, at least no fees will be incurred by ebay

Thanks very much for your ideas

summer33

heartbreak_star wrote: »

Sorry I am another one of those saying sell the caravan...go back to a tent for a while!

HBS x

Thanks for option, but selling caravan to go back to a tent, would mean more spending costs, as all tenting stuff been sold. No cooker elecs etc, plus same fees on sites and fuel etc.

heartbreak_star

I just don't understand the logic of wanting to take out a payday loan when you have something that could help...you can buy another when you have clawed your way out of this hole.

Good luck though, I'm glad you're taking some advice on here

HBS x

summer33

heartbreak_star wrote: »

I just don't understand the logic of wanting to take out a payday loan when you have something that could help...you can buy another when you have clawed your way out of this hole.

Good luck though, I'm glad you're taking some advice on here

HBS x

Thanks again, and I do appreciate all the help so far, and site is helping me with food, and making things last etc.......as use to throw away any left overs away, and never put in freezer ( how bad is that )

I think if can try and reduce food shopping, sell some stuff and be really tight, and have a spending diary like someone mentioned, I hope and pray this will work. You know sometimes it's like you pick the kids up and take them the shop for sweets or a drink and there is £4.00 gone !!!! I need to have the mindset now, that that could go in the elec or gas meter.

If we sell the caravan ( i know will help short term ) but we would never be in a position again to be able to buy another one. As we not going to come into money ( that we know of ) and will deffo not be able to get credit for a long time.

I will keep going with trying to make cuts and savings were I can.

I keep thinking as soon as youngest is in school then my nursery cost will be a big chunk of our ourgoings that we can put to use somewhere else. As at the minute that is like our motgage!!!!!!

Wish I could reduce the nursery in some way, but cannot. Husband works shifts ...so his shift varies day to day, and his company are not very felxible in giving facilitatiions

Cotta

summer33 wrote: »

Thanks for option, but selling caravan to go back to a tent, would mean more spending costs, as all tenting stuff been sold. No cooker elecs etc, plus same fees on sites and fuel etc.

Okay time for some tough love and I promise you that I'm telling you this for your own good.

You have made a catalogue of errors that have got you into this situation, simple cut backs are not going to resolve your problem and if you want to keep your house short of winning the lotto or getting some unexpected extra cash you need to listen to what you're being told.

Get rid of Sky, your TV licence (stop watching TV), sell your caravan, eliminate holidays, cut your grocery bills by £100, your electric by £20 and then get back to us.

Every suggestion that has been made to you, you've rebuked and if you're not careful at this rate you're going to lose your house and then you'll have to live in that caravan.

I'm sorry if this sounds cruel but you're getting good advice from people on here, take stock, cut back, reorganise your loans and you'll also need to get more money coming in.

The last thing I want is for you to be making posts on the bankruptcy thread but that is where you're going.

kindofagilr

Its totally do-able hun, I think you are going to rock it

We are a family of 4 my baby is only 10 months tho, and my son is nearly 4, and we manage to spend around £50 a week on all groceries and nappies and baby milk etc I worked out my dinners/tea for a week last week cost £18 and we had meat nearly every night, so we arent just eating beans on toast lol xx

marliepanda

summer33 wrote: »

If we sell the caravan ( i know will help short term ) but we would never be in a position again to be able to buy another one. As we not going to come into money ( that we know of ) and will deffo not be able to get credit for a long time.

You could always save up for it? Why does future credit be the first thing to come to mind?

Seriously, with the cuts you can make and the interest you can save you can then use your debt repayments to save for a caravan once debt free.

I think you're getting close to your light bulb moment, but you're not quite there yet with this sort of thinking

swampduck

I'm probably going to be condemned for even suggesting this!! :eek:But have you considered if it is even worth your while working?

Take a look at what you pay for childcare/petrol etc etc and then consider that if you were to move your children to a more local school and then stop at home claiming working family tax credit or whatever is available that you may actually end up better off. In some cases it is just not worthwhile for some people to work! I hate saying it but that's life sometimes.

My children are now grown up and while they were young we didnt have help for childcare fees/breakfast clubs/working tax credits etc so cold hard facts/accounting meant my husband stayed home as a house husband until the children went to school. Then he went back to work on nights so someone was around for out of school hours. You just need to do what is necessary to get you over this blip - if we had had the help that families get now back then - life would have been a whole lot easier for us.

It's just looking at things from another angle - it won't get you out of debt now but may just be something else to consider along with all the money saving ideas others have suggested. There is tax calculator available so you can play around with figures should you consider the possibility of not working. It may not be practical for you in real life but as a confirmed MSE user for some years now I have found that you learn to be creative and adaptable and think out of the box in your quest to be debt free!!

Swampy