New job possible issues

Bouncybubbles

Hi all
I start my new post on 26th of this month. This job will eventually pay much better than my old one with new prospects etc however initially it will be similar.
Anyway I have obviously had to give my notice in to my previous post which could mean that instead of receiving the full months pay I receive around a week less due to finishing before a full month. My new post then wont pay me until around the 25th of October. I thought that's ok we will just about manage until I factored in several costs that I had not anticipated.
First cost being the £120 fee to join the register (new nurse) which will have to be paid next week and I cannot start my position without paying this. ( I assumed I could pay via monthly DD as it all changed this year but your first one has to be a lump sum)
Secondly the petrol (community based) whilst I know I claim petrol money the first month obviously I will not receive anything.
Thirdly I have my leaving ball next Friday (already paid for) and I am going to be expected to spend at least £10 on drinks


This puts us in a really difficult situation as by my rough calculations this could all total around £200 of unplanned spending this month plus possibly a weeks less wages (roughly £200) which could leave us with barely anything to pay for food or missing a bill all of which are important (mortgage, council etc) except for DMP? I contemplated asking them for a month off as not missed a payment since beginning it in march however its been going so well I really begrudge doing it. Does anyone have any other ideas as to what I can do?

abby1234519

Bouncybubbles wrote: »

Hi all
I start my new post on 26th of this month. This job will eventually pay much better than my old one with new prospects etc however initially it will be similar.
Anyway I have obviously had to give my notice in to my previous post which could mean that instead of receiving the full months pay I receive around a week less due to finishing before a full month. My new post then wont pay me until around the 25th of October. I thought that's ok we will just about manage until I factored in several costs that I had not anticipated.
First cost being the £120 fee to join the register (new nurse) which will have to be paid next week and I cannot start my position without paying this. ( I assumed I could pay via monthly DD as it all changed this year but your first one has to be a lump sum)
Secondly the petrol (community based) whilst I know I claim petrol money the first month obviously I will not receive anything.
Thirdly I have my leaving ball next Friday (already paid for) and I am going to be expected to spend at least £10 on drinks


This puts us in a really difficult situation as by my rough calculations this could all total around £200 of unplanned spending this month plus possibly a weeks less wages (roughly £200) which could leave us with barely anything to pay for food or missing a bill all of which are important (mortgage, council etc) except for DMP? I contemplated asking them for a month off as not missed a payment since beginning it in march however its been going so well I really begrudge doing it. Does anyone have any other ideas as to what I can do?

http://www.stoozing.com/calculator/soa.php

Post your SOA and maybe people could suggest wiggle room? I can't really suggest anything off the top of my head. What is your monthly DMP payment? Have you asked if you can miss a month and make it back up?

MrsSave

How much do you spend on food a week? Could that be cut back to save a little over the next few weeks? Do you have any unused Tesco vouchers or something similar? I'd shop towards the end of the day so that you can take advantage of yellow stickers. Is there anything you can sell on eBay/Facebook to make a little extra money to see you through.

I'd definitely post the soa where you'll get plenty of ideas from people. I'd also think about setting up an emergency fund once you've started the new job to make sure you're not in a situation like this again.

sourcrates

Miss your DMP payment if you can't afford it this month.

Remember the golden rule, Unsecured credit debts are non priority, and are bottom of the list for payment.

Even your creditors will confirm this.

enthusiasticsaver

DMP is the one you should miss if you miss any. Alternatively is there anything you can sell? Old mobiles, dvds, cds etc etc. Do you really have to spend £10 on drinks at your leaving ball? When people I work at leave we tend to buy them drinks.

Muttipops

Are you due any pay for holiday you haven't taken? If so, that should be in your final pay packet, I think.

Bouncybubbles

Household Information[/b]
Number of adults in household........... 2
Number of children in household......... 0
Number of cars owned.................... 2
Monthly Income Details
Monthly income after tax................ 1298
Partners monthly income after tax....... 700
Benefits................................ 0
Other income............................ 0
Total monthly income.................... 1998
Monthly Expense Details
Mortgage................................ 514
Secured/HP loan repayments.............. 300
Rent.................................... 0
Management charge (leasehold property).. 0
Council tax............................. 98
Electricity............................. 35
Gas..................................... 35
Oil..................................... 0
Water rates............................. 39
Telephone (land line)................... 18
Mobile phone............................ 60 (For two of us)
TV Licence.............................. 14
Satellite/Cable TV...................... 0
Internet Services....................... 10
Groceries etc. ......................... 200 (for two adults and two cats)
Clothing................................ 20
Petrol/diesel........................... 35
Road tax................................ 10
Car Insurance........................... 29
Car maintenance (including MOT)......... 20
Car parking............................. 0
Other travel............................ 0
Childcare/nursery....................... 0
Other child related expenses............ 0
Medical (prescriptions, dentist etc).... 14
Pet insurance/vet bills................. 40
Buildings insurance..................... 20
Contents insurance...................... 19
Life assurance ......................... 38
Other insurance......................... 0
Presents (birthday, christmas etc)...... 20
Haircuts................................ 10
Entertainment........................... 20
Holiday................................. 0
Emergency fund.......................... 20
Total monthly expenses.................. 1638

Assets
Cash.................................... 3
House value (Gross)..................... 145000
Shares and bonds........................ 0
Car(s).................................. 8000
Other assets............................ 0
Total Assets............................ 153003

Secured & HP Debts
Description....................Debt......Monthly...APR
Mortgage...................... 109000...(514)......4.09
Hire Purchase (HP) debt ...... 14000....(300)......6
Total secured & HP debts...... 123000....-.........-
Unsecured Debts
Description....................Debt......Monthly...APR
DMP payment....................8690......337.......0
Total unsecured debts..........8690......337.......-

Monthly Budget Summary
Total monthly income.................... 1,998
Expenses (including HP & secured debts). 1,638
Available for debt repayments........... 360
Monthly UNsecured debt repayments....... 337
Amount left after debt repayments....... 23
Personal Balance Sheet Summary
Total assets (things you own)........... 153,003
Total HP & Secured debt................. -123,000
Total Unsecured debt.................... -8,690
Net Assets.............................. 21,313

Bouncybubbles

Just to add my partner earns more than £700 he earns around 1K however he pays for his own car and insurance out of whats left so he has nothing left either. To answer a couple of questions


1) we have nothing left to sell we did a car boot on sunday just gone and raised £50 which we spent on food shopping as ran out of money
2) Its not my leaving do its my graduation ball where 150ish students will all be celebrating together and sadly drinks were not included in the price tag
3) I am not due any holiday pay as I was seconded so given all the uni holidays which have now finished

abby1234519

Contact DMP peeps and say you are missing one months DMP payment other wise you won't be able to afford your priority payments. That's £337 right there

And if you budget and look at Old style board, you probably can live on ab out £20-£30 a week for food over the next 4 weeks.

It's doable

NeverUnderestimate

Can you set up a direct debit payment for the NMC rather than it upfront? I know a few have chosen this option.

National_Debtline

Hi Bouncybubbles


I'd have to agree with others that putting the DMP payment on hold for this month seems by far the most straightforward way of bridging this temporary budget gap. I appreciate that you don't want to miss any payments if you can help it, but of all your various commitments, this is the one that will cause the least fallout by being paused.


Also, for what it's worth, if you're envisaging spending not much more than £10 on a few drinks at your graduation ball and the other costs are already covered, I wouldn't necessarily shelve it. That £10-£20 is not going to make a pivotal difference in your budget as a one-off, and it's important to remember that you are entitled to let off a little steam here and there, DMP or otherwise. It's not every day one graduates, and I'm sure you worked hard for it.


Dennis
@natdebtline