We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Want to become a Forum Ambassador? Visit the Community Noticeboard for details on how to apply
In a muddle with money - need help!!! :(
lollipop14
Posts: 12 Forumite
Hi all,
This is my first post, and I'm really hoping for some help. I feel really out of control and a bit panicky about the state of our finances and I'm not sure what to do for the best to fix it.
I had a baby at the end of September and I'm currently on mat leave and earning SMP for the next few months at least. We've pretty much always been in debt but have always just coasted along making payments and not worried much about it. Up until now we've both had decent salaries, but have still probably always spent just a bit beyond our means. I've applied to go part time at work, I'll return full time in June (I'm a teacher), but will drop to 3 days/week in August. I really believe this is the best option for our family, on paper it seems as though we'll manage fine for money, but I feel like I regularly sit down and write out what I think is a realistic budget, yet we never seem to stick to it and I'm not sure where I'm going wrong.
We currently live in a 3 bed flat, but would like to move to a house. I've got it into my head that we should sell our flat, move in with my mum until we pay off our bank loan (I reckon approx 6 months), then buy a 3 bed house once we've done that. Ideally, I'd like to apply then for the help to buy scheme and move into a new build. The problem is, that we're not managing as well as I would've liked with the SMP I'm currently earning, and we've had a few unexpected expenses crop up. We don't actually have the money to pay for a home report, but I'm wondering if we should pay it using a cc or od, then pay that back once the flat sells? It does make me panic a bit to be getting even more into debt, but I feel like we need to sell the flat in order to make a decent attempt at clearing our debts, so I think the sooner we sell it the better.
I'd love to hear anyone else's advice or experience as I really am not sure what to do for the best.
Thanks in advance,
L xx
This is my first post, and I'm really hoping for some help. I feel really out of control and a bit panicky about the state of our finances and I'm not sure what to do for the best to fix it.
I had a baby at the end of September and I'm currently on mat leave and earning SMP for the next few months at least. We've pretty much always been in debt but have always just coasted along making payments and not worried much about it. Up until now we've both had decent salaries, but have still probably always spent just a bit beyond our means. I've applied to go part time at work, I'll return full time in June (I'm a teacher), but will drop to 3 days/week in August. I really believe this is the best option for our family, on paper it seems as though we'll manage fine for money, but I feel like I regularly sit down and write out what I think is a realistic budget, yet we never seem to stick to it and I'm not sure where I'm going wrong.
We currently live in a 3 bed flat, but would like to move to a house. I've got it into my head that we should sell our flat, move in with my mum until we pay off our bank loan (I reckon approx 6 months), then buy a 3 bed house once we've done that. Ideally, I'd like to apply then for the help to buy scheme and move into a new build. The problem is, that we're not managing as well as I would've liked with the SMP I'm currently earning, and we've had a few unexpected expenses crop up. We don't actually have the money to pay for a home report, but I'm wondering if we should pay it using a cc or od, then pay that back once the flat sells? It does make me panic a bit to be getting even more into debt, but I feel like we need to sell the flat in order to make a decent attempt at clearing our debts, so I think the sooner we sell it the better.
I'd love to hear anyone else's advice or experience as I really am not sure what to do for the best.
Thanks in advance,
L xx
0
Comments
-
Hello and welcome to MSE :wave:
As this is the Diaries board I think you would be better re-posting this on the main Debt Free wannabe board:
http://forums.moneysavingexpert.com/forumdisplay.php?f=760 -
Oops!! Sorry! Thanks for pointing me in the right direction. I'll re-post it now.
L x0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.9K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.2K Spending & Discounts
- 246.9K Work, Benefits & Business
- 603.5K Mortgages, Homes & Bills
- 178.3K Life & Family
- 261K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards