Advice Increasing Childcare and Debt

Hi all,

Sorry if this is not the right area to post in but I need some advice and guidance.

Partner and I both work and we have fairly decent jobs that offer long term careers however we are struggling to pay to keep our rented house going, pay for childcare and pay of debts.... I'm Stuck.

I currently pay £750 per month on childcare including the childcare vouchers, we get no help in terms of working or child tax credits and don't qualify for 15 free hours till next year, and I have around £7000 worth of debt which needs to be paid off. I have tried looking at balance transfers but I don't seem to meet the score. On Experian my credit score is fair.

I feel like I am drowning.

How do you manage??

thank you


  • jwil
    jwil Forumite Posts: 17,660
    Part of the Furniture 10,000 Posts Name Dropper Photogenic

    It's hard work!

    Maybe do a statement of affairs so you can see a full picture of your finances -

    See if there are any areas you can cut back on - there is lots of advice on the DFW board on here.

    Also have a look at the snowball calculator on the link above - it will tell you the best order in which to pay your debts by snowballing as much extra as you can at one (usually with the highest interest rate) while paying minimums on the rest.

    Finally is there any way you can increase your income? Overtime, clearing out and selling stuff?
    "If you can dream it, you can do it". Walt Disney
This discussion has been closed.
Meet your Ambassadors


  • All Categories
  • 338.9K Banking & Borrowing
  • 248.7K Reduce Debt & Boost Income
  • 447.6K Spending & Discounts
  • 230.8K Work, Benefits & Business
  • 601K Mortgages, Homes & Bills
  • 171.1K Life & Family
  • 244.1K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards