Help me drowning in debt!

Imgonnagetouttadebt

The just of it is I feel like I am drowning in debt and I need to get it under-control. The sum equals 4000 it may seem like measly amount to most of you but to me its a huge amount. I have already cut back but need to tighten my belt even more but I'm stuck for tips and things to help me do so.
I feel that the interest rates are crippling. My debt is spread between store accounts and one credit card and family.

I already do as much as I can
I shop in aldi and Lidl, My food budget for a week is about 20 up to 30 at a push. We walk everywhere and rarely get the bus. Most day trips are basically to the local park but with it being the six weeks I need relatively cheap ways to entertain my Daughter. I always take lunches for us and drinks. Recently my daughter has had a growth spurt and I need to buy more clothes <sigh> she will also be needing a new uniform for Nursery in September plus shoes bag and winter clothing.One thing or another always seems to crop up leaving me out of money. I want to be able to pay my debts down and save even a little amount as a safety net. I am on a very low income and basically after paying everything such as bills and debt repayments I am left with 200 for the month this has to include food, clothing, entertainment and it doesn't seem to stretch very much. I am starting to panic about xmas as I have a large family who have expensive taste they expect more than I can give and can't accept the fact that I don't want to continue giving them gifts :eek: its ridiculous.







Any ideas gratefully received.

myteeduck

First suggestion from everybody will be to post a SOA - statement of affairs.

Go to this website http://www.stoozing.com/calculator/soa.php and fill it in with everything. Post it on here and people will be along with suggestions. You need to be accurate with every item.

This is the first step for most people - me included.

It may seem like its daunting but the advice on here is amazing and the things that people come up with to help is immense!

Baby steps for now will help

x

HappyMJ

Forget about the family and their expensive tastes buy them something within your budget if they can't appreciate that then don't bother at all but tell them that so they don't get you anything for Christmas. Just say "Don't get me anything this year I can't afford Christmas this year so I can't buy you anything. Maybe next year". That doesn't mean they have to get nothing you can make quite a lot of nice things for free or low cost. Even a handmade card should be appreciated (at least I would). If they don't accept the fact you don't want to give and receive gifts then avoid them and don't accept their gifts.

poppasmurf_bewdley

Firstly, with your current problems. Have you investigated a Debt Relief order. See: http://www.stepchange.org/Howwecanhelpyou/DRODebtrelieforder.aspx
to see if you could qualify. I hold no truck with these card companies who charge extortionate rates of interest on relatively small amounts.

Your other problem is relatives who expect expensive presents. You need to be firm and just tell them that you cannot afford these and if they don't like it, then they can lump it. If they can't accept, it, then they're not worth bothering about. Or tell them you don't want any presents this year, and won't be giving any. Most people will understand this.

sourcrates

How old are your credit/store card accounts OP ?

Sharon87

First of all, don't panic!

There are many things you can do to help. First of all Christmas - as others have said forget about their expensive tastes. Do what Martin Lewis says and just cancel gift giving for most people. If your family have kids, maybe something small for them, but not for the grown ups. I have a friend with expensive tastes and felt really bad when she bought me a pair of Doc Martens for my birthday. She knows I can't afford to spend that much on her. On her birthday I paid for a meal for her instead.

I had some lean Christmases as a kid when my parents couldn't afford much and I understood that I wouldn't be getting big presents, but I appreciated what they did get me.

As for clothing - is it possible to sell any of your daughters clothing either on ebay or Facebook? Do you know any other parents who could use the clothing/shoes? And have you thought about buying some of her new winter clothes on ebay/charity shops? May work out cheaper and you may be surprised what you can get.

Post a statement of affairs up and see if anyone can help you out with any other money saving ideas.

Also how is your credit rating? Do you think you will be accepted for a 0% card - even if it's not a long 0% deal, it still may help. Or even a low balance transfer card like Natwest do.

andyfromotley

1. Tell the family to do one in regards to any sort of christmas presents.
2. Post an SOA
3. You have already identified that you have an income problem. You need to focus upon that and increase your income.

BitterAndTwisted

Forget Christmas! One, it's too far away to be fretting about that now. Two, you can tell your family that you're going through a crisis and therefore won't be buying anyone anything.

Forget about the clothing for nursery, that's too far into the future as well.

Concentrate on the "now".

£200 a month after all the bills are paid is tight but do-able. Honestly, I've lived on less. Just think, any extra fiver you can sling at the debt attracting the highest interest-rate now is another fiver coming your way later on.

Post up an SOA and let posters help you see the wood for the trees.

QueenBeruthiel

Forget Christmas. Christmas is cancelled.

Concentrate on getting through summer.

How old is your daughter? Do you qualify for the free 15 hours childcare pw?

Where to you live? Rural, town, city? Check out your local council website: they often have activities at community centres, libraries, museums, parks, etc. Local football or other sports club with kids activities? Can you buy the uniform 2nd hand? Are you claiming everything you are entitled to? Child Tax Credit? Working Tax Credit?

Give us more info and we will help.

Bridgeton_Boy

Hi, take a deep breath and don't panic. You will find that Martin and all the good folk on this site will give you good advice. My ex walked out on me and my daughter leaving me up to my neck in debt. Martin's good advice helped me secure a better mortgage deal at that time making sure that we had a roof over our heads. He also provide good advice on day to day debt such as in transferring credit card debt to zero / lower interest rates the best deals. This gave me the breathing space to get my debts in some order.
It wont be easy but you will get through it with a little help from the folks here.

Imgonnagetouttadebt

Been awol for quite some time. Im going to start concentrating on the biggest debt of all by snowballing it and paying minimum on the others debts. Then once thats paid off do it on the next debt and so forth.
Has anybody got any advice considering groceries and meal planning. I try each month but always fail and end up spending more than i would like on food.
I would like to spend maybe 80-100 for the entire month on food.