Absolutely terrified and in a jam

amorge

katsu wrote: »

So at the moment is your debt increasing every month? Your SOA shows that your outgoings and debt repayments exceed your income so what is happening in reality?

Just wondering how that will work out over the remaining trust years and also if your SOA is quite right.

Hi Katsu, up to now I've been using credit cards for food shops etc, this is the first month I've not used them and I suppose that's why reality has hit. I also lost my working tax credit last month of about £200 per month which is made a difference

amorge

Pricivius wrote: »

Apologies if it's been mentioned, but I can't see child maintenance on your SOA? Is there an ex-OH who should be contributing? Just a thought as every little helps...

Sore subject in one word - no! I was but he has a new family now and is currently out of work so buys things for them from time to time - not helpful to me at all

amorge

redux wrote: »

Are they small fluorescent tube ones, or just the 35W halogens?

It's still possible to save on the latter, with GU10 LEDs on eBay for about £2 each. They should pay for themselves in about 500 or 600 hours, which could be under a year in some rooms.

Thank you, I will look at all my bulbs and if replace as needed. I id buy some energy light bulbs last year from next but when I looked at the energy rating on the box they were E !!!! How can that be classed as energy efficient?

asparagus1968

I think if you rent the box room for storage you may have to pay income tax?


Do you have a dining room you couldmake into a bedroom to rent out-tax free if within the income limit of the rent-a-room scheme? And you could sell the dining furniture too

amorge

asparagus1968 wrote: »

I think if you rent the box room for storage you may have to pay income tax?


Do you have a dining room you couldmake into a bedroom to rent out-tax free if within the income limit of the rent-a-room scheme? And you could sell the dining furniture too

No dining room, I'll look into the tax implications, did think about renting a parking space as I'm a 5 min walk to the station and we are less than an hour from waterloo on the main line?

I spoke to my girls last night about renting the eldest's double room out when she's away from Sep-Aug 2016 and they agreed good idea

asparagus1968

Good idea re. the parking space.
Nice that the daughters are on board, that makes things better.
good luck

sourcrates

OP, where do you live ?

£220,000 would buy a 4-6 bed-roomed house in the east riding where i live, i would seriously look at moving somewhere less expensive to live, that's just insane for a one bedroom flat.

amorge

sourcrates wrote: »

OP, where do you live ?

£220,000 would buy a 4-6 bed-roomed house in the east riding where i live, i would seriously look at moving somewhere less expensive to live, that's just insane for a one bedroom flat.

I live in Hampshire, an hour south of London. Unfortunately moving is not an option, restriction on house selling and my work & family are here.

cattie

asparagus1968 wrote: »

I think if you rent the box room for storage you may have to pay income tax?


Do you have a dining room you couldmake into a bedroom to rent out-tax free if within the income limit of the rent-a-room scheme? And you could sell the dining furniture too

My suggestion would be for either you or your youngest daughter to give up their room for a few months & see about becoming a host family to an international language student.

This is something I did when in a bit of a financial crisis a good while back. I would mostly take students who were here for a 3 month period, but did often take the odd one or two that were here for 9 months as it was nice to feel I could rely on the additional income for a longer period. I quite got to like having the box room as my room after a while, much more cosy!

Not many language schools would want to place their students in a box room, which is quite understandable. If you are near Bournemouth I know that there are a couple of excellent & reputable English Language Schools there.

Lucky for me, I lived close to central London at the time, so worked with 2 or 3 language schools so I always had plenty of bookings. The money I earned helped pay my mortgage & allowed me to build up a bit of a reserve fund too.

Good luck anyway as I know it can be very hard to cope with financial drawbacks when you are alone with only your own salary to try to live on.

amorge

cattie wrote: »

My suggestion would be for either you or your youngest daughter to give up their room for a few months & see about becoming a host family to an international language student.

This is something I did when in a bit of a financial crisis a good while back. I would mostly take students who were here for a 3 month period, but did often take the odd one or two that were here for 9 months as it was nice to feel I could rely on the additional income for a longer period. I quite got to like having the box room as my room after a while, much more cosy!

Not many language schools would want to place their students in a box room, which is quite understandable. If you are near Bournemouth I know that there are a couple of excellent & reputable English Language Schools there.

Lucky for me, I lived close to central London at the time, so worked with 2 or 3 language schools so I always had plenty of bookings. The money I earned helped pay my mortgage & allowed me to build up a bit of a reserve fund too.

Good luck anyway as I know it can be very hard to cope with financial drawbacks when you are alone with only your own salary to try to live on.

Thanks, I am just south of Guildford and I know there are schools here. My eldest daughter is going to Uni in another country for a year in September so I am planning on letting someone have her room. I am off work week 6 July so will spend that time trying to sort that out I think