I want to stop drowning

enthusiasticsaver

What sort of payment solution did Barclaycard offer you?

I think I would keep your £300 for now in your emergency savings account given you will be so tight for payments in January, February and it will then go towards the debt anyway. It won't have any impact now unless you have any debts on high interest rates which from memory you don't.

If you can struggle through to the summer without any defaults you may still stand a chance of moving some of the 0% deals across to new ones but as you say your high credit utilisation may go against you.

enthusiasticsaver

You need support too so you must discuss this with your husband too. It is not fair for you to shoulder all the worry. Does he know the credit card payments will be going up next year?

debtaghh

enthusiasticsaver wrote: »

You need support too so you must discuss this with your husband too. It is not fair for you to shoulder all the worry. Does he know the credit card payments will be going up next year?

Yes, we had a long chat last night and he pretty much had a break down. He said he knows he should support me but doesn’t know what to do. I have more emergency money, this £400 ( found an £100 that I could cut back on) was going to clear my Tesco cc. They are all on 0% or low interest so agree I will keep to help January. In Feb and March we won’t have to pay Council tax or two lots of pre payments cards which is a saving of £183. I’m just hoping like you said we can survive and then the minimums will reduce.

Me and dh also said we will have to be extremely frugal , no biscuits, choc bars at home. No coffees out etc. Cheap meals , I am going to work out what the cheapest we can survive on whilst still providing the right nutrients for our children.

Little_Miss_Winner

Hi again this post may help you.

https://forums.moneysavingexpert.com/discussion/3865419

I dont know that much about DMPs. your rent is extorniate though

Little_Miss_Winner

also..

more info here..

https://www.stepchange.org/debt-info/dmp-mortgage-home-tenancy.aspx

debtaghh

Little_Miss_Winner wrote: »

Hi again this post may help you.

https://forums.moneysavingexpert.com/discussion/3865419

I dont know that much about DMPs. your rent is extorniate though

Little_Miss_Winner wrote: »

also..

more info here..

https://www.stepchange.org/debt-info/dmp-mortgage-home-tenancy.aspx

Thanks. From what I understand if we did a dmp they could affect our rental situation but if we set a private agreement with barclaycard that potentially should be ok.

debtaghh

Morning,

Dh didn’t receive a letter from barclaycard yesterday so I wonder if his minimum isn’t going up yet. When I said January had a shortage of £580 this accounted for his cc going up so if it doesn’t the shortfall is £380 which I have. I don’t include any salary from me so hopefully the shortfall won’t be as bad in general. I’m going to take one month at a time. Made some surprising sales yesterday. I’m thinking of clearing my Tesco cc as well as keeping money for Jan. The balance is £360, the 0% runs out in April so needs clearing by then. It will mean £10 less minimum and one less cc. Will look at accounts again to see if there is a way I can clear my balance and have enough for Jan shortage. I am taking bits back that I bought with my bday money, my bag is broken so I bought a new one with money given but I feel that’s not an essential as I can still use mine. I’ve cancelled meals out that were planned around new year ( I had allocated money but that’s going in to Jan shortage fund). Certain things I can’t cancel or I’ll lose money so we will still do nice activities.

I feel I def have got my frugal cap on. I had veg that needed using up so I made Home made soup and I had mozerella that needed using so made homemade pizza. This went down very well, I didn’t have yeast so googled a recipe without and it’s so easy and cheap! I think I’ll be making this regularly. I think next year it’s best if we don’t see ppl as often as this costs money. I’m going out today but the choice was eat out for lunch or go to my friend’s house and I opted for her house, nice saving there.

Have a nice day everyone.

enthusiasticsaver

Well done! Clearing the Tesco card would be great to get one gone. Every £10 matters.

debtaghh

I have officially cleared the Tesco £360.40, it is now at £0! I will update my signature. I even paid an extra £100 off my barclaycard and I have money for Jan shortfall. All being well as long as I stick to my tight budgets we should be ok inclusive of end of Jan bills. I have only allocated £100 for food until 20th Dec but I only need fruit, milk, etc. With December’s pay I’ve allocated £275 for food including my Xmas shop but I’ve cancelled turkey (£40) and am just having a £5 chicken. I already have crackers, peanuts etc so hoping £275 will be enough until Jan pay when food budget will be £220.

enthusiasticsaver

Well done. If you keep on being as frugal as that it will help your chances of getting more 0% deals next summer. Congratulations on getting rid of the Tesco card. Are you leaving it open in case they offer you another 0% deal next year or closing it?