I want to stop drowning

debtaghh

To be honest I'm reluctant to do an soa again as if I include no overtime then it's awful and there is no way out.

enthusiasticsaver

debtaghh wrote: »

To be honest I'm reluctant to do an soa again as if I include no overtime then it's awful and there is no way out.

Even with your income?

If it doesn't balance then maybe we can make suggestions.

Is the overtime every month? How is it decided and is there a chance it won't be ongoing?

How much are you short on a basic month?


I understand why it is difficult to confront it but unless you plan on doing a DMP not confronting it will make it worse. You seem to feel better when you have a plan to deal with the debt which you did early on this year. Sometime between then and now real life or maybe the concern about the Nuba interest going up has crept in and deflated you again. You did know the deal finished this year though. I think things are stacking up and causing you anxiety again which has led to you not posting or wanting to see the full picture which an soa will give you.


You have no council tax in February or March. I know you did not change it to 12 monthly so you have some breathing space even if no overtime.

findingthisdifficult

Sorry if someone has already said this, as I said I'm late to the diary.
I know you're reluctant to do a DMP because of the impact it will have on your ability to rent property but if you already feel that there is no way out, chances are you're going to end up with bad credit any way.
Are you expecting to move any time soon? or are you on a long term rental agreement?
Have you spoken to citizens advise or a charity like stepchange to see what options are available to you?

Sorry for all of the questions, I just want to help you see that there is always a way out and help is available.

wishingthemortgaheaway

Could you use the savings to pay off the family debt? (Which I know is a massive source of anxiety)
Then, if things still don't add up, enter a dmp?

What would that option make your soa look like?

debtaghh

Thanks for all your messages. Real life has been very emotional and stressful.

I knew my Nuba was ending but I was hoping for more overtime from my DH. He has no control over overtime. In the job that he is in it's basically on the day you will find out but can't say no but he hasn't had much lately which is why I'm feeling anxious. I have been thinking more about other options but just never know what to do for the best. When I tried last time to do a soa I couldn't get it to work. I could just list my outgoings and income

BabyStepper

Just wanted to pop in and say hi, and I'm sorry to hear things are stressy and emotional in real life just now. I hope things get better soon.

We all seem to be offering the same advice over and over, and going round in circles with you. I think you know the options now but maybe the responsibility can be shared between you and your husband, it might be easier that way.

All the best.

MrsSave

I think you've had problems uploading a proper SOA before, but how about typing up everything that would be in the SOA. Your income (I wouldn't include overtime), expenses and a breakdown of all your cards and interest rates.

I know you find that difficult to do and will probably be dreading seeing how people respond, but people are genuinely here to help. I do think things need to change with you soon and a fresh pair (or 2) of eyes on it will be a good start.

Have a think about work as well. How many hours a week do you do now? Do you have to pay childcare when you work? What hours does your husband do? Could you look for something like supermarket work (you'll get a discount on your food bill!!) and try and find shifts to work around your husband's work?

I really want you to crack this and get rid of this horrible burden you're carrying. It's so difficult to see the wood for the trees at times though, and I think that's where you are now.

debtaghh

I'll type my soa up.

I don't pay any childcare as I work sch hours. My husband works shift works that are awful so can't get a second job. If I work more hours or get a second job I will then pay childcare.

debtaghh

Rent- £1300
Council tax £215
Gas/elec. £80
Water £50
Sky/landline/internet £35
Mobiles £63
Car insurance x 2. £54
Alarm. £27
Fuel. £180
Food. £400
All cc minimums. £985
Mum. £70
Very. £50
Gen spending. £150

Total £3659

DH Basic pay £2500
My pay. £725- ( this maybe reduced by £320 come sep as part is temp position )
Child benefit. £197

Total £3422

I think I've included everything.
I also pay my dad back £100 per month but he has let me off for a year so haven't included. The very is interest free and with me paying £50 per month will clear it. The mobile bill is for 3 phones. The higher one I can change to sim only in May. Alarm is on a contract for another year.

All credit cards apart from 3 are on low rates for the life of a balance and the three that will incur interest will go to 26.9%+

General spending covers everything else, sch trips , shoes, clothing , odd treat

Basically it's a mess as we also have annual Pre payment cards x 2 , we need to save for Xmas, bdays, holidays, car , emergencies, dentist and everything . I forgot we do pay a bit of childcare ( one more instalment needed in April of £350 and then no more childcare costs as it stands)

My dh's overtime can range from £0-£350/£400

Igamogam

debtaghh wrote: »

I'll type my soa up.

I don't pay any childcare as I work sch hours. My husband works shift works that are awful so can't get a second job. If I work more hours or get a second job I will then pay childcare.

Don't feel you need to post your SOA if you don't want to. When you see things written down you might be able to see straightaway where changes can be made. It's entirely your decision! However people are here to help. Maybe look at some of the challenge threads. Frugal one has a very easy budget tracker you can download and loads of help and ideas......and people in same situ as you:D