What do you do when you have more going out than coming in?

Skittles26

I've been in a lot more debt than I am in currently, and through family help I've managed to reduce that greatly. However the problem I have now is that I'm slipping back into overdrafts and credit cards.

I have £582 a month income, with two fixed loan payments of m&s loan - £113 and a tesco loan -£205. Fuel costs are between £60/80 per month. This leaves me with £200 for the month to purchase food for a family of four, toiletries and cleaning products, school trips, pet supplies, clothing etc etc (you get the drift) I try to be thrifty and shop around, I don't feel like I'm spending on luxuries or frivolously but just that the weekly shop is going on the credit card, which becomes a vicious cycle of needing to make a minimum payment on the card. I think I just wanted to get this off my chest and find out if anyone else has been in the same boat and what helped for you.

fairy_lights

That's a very low monthly income for a family of four to survive on, have you checked you're receiving all the benefits you might be entitle to? Do you have a partner who also contributes?

~Beanie~

Are you able to work more hours or get a second job in order to increase your income?

You haven't really given much information. Do you get your housing paid for? What about utility bills etc? Is a family of 4 two adults and two children or something else?

FireWyrm

You dont get child benefit? There must be something for a family of 4 (2 children?). I thought tax credits would make up some of the income, what about that?

Failing that, if you have no assets and no intention of acquiring any, I might be tempted to simply go bankrupt and be done with it. Clearly, the loans are killing you and either you need to get rid of them, or increase your income substantially.

I think there is probably more to this story and so it is hard to advise intelligently.

Grumpelstiltskin

OP What happened to the savings you had in March ( in your signature )

asparagus1968

Not giving a full story here? There is lots of us around to help if we can, so could you explain further so we can offer relevant advice? or, even better, complete the following:
http://www.stoozing.com/calculator/soa.php