stuck in overdraft

Cafuddlepants

I will try and be brief but I'm.in a very big mess with my finances. I am £800 overdrawn and just can't seem to get out of it. I work full time although on a zero hour contract however hours stay generally the same. I have 3 kids and am married DH also works full time. I believe half the trouble im struggling is due to my car , I have spent a lot on it for repairs but I don't finish paying for it until Feb. I need it for work.as I am a home carer and can make up to 20 visits a day , my car is draining my petrol I'm putting 10 pounds a day in easily and I believe this is where most of the money is going. I only receive woo pounds a month petrol allowance. If I don't have a car I can't work and it's draining me. I'm.not sleeping at night as I keep having nightmares about my car drowning my bank. I'm not sure I can part exchange it either as it's been bashed about a bit and not got a good service history. Any advise would be greatly appreciated . TIA

GTR_King

We need to see a SOA

Then we can help you more about how to get out of your overdraft

DCFC79

Cafuddlepants wrote: »

I will try and be brief but I'm.in a very big mess with my finances. I am £800 overdrawn and just can't seem to get out of it. I work full time although on a zero hour contract however hours stay generally the same. I have 3 kids and am married DH also works full time. I believe half the trouble im struggling is due to my car , I have spent a lot on it for repairs but I don't finish paying for it until Feb. I need it for work.as I am a home carer and can make up to 20 visits a day , my car is draining my petrol I'm putting 10 pounds a day in easily and I believe this is where most of the money is going. I only receive woo pounds a month petrol allowance. If I don't have a car I can't work and it's draining me. I'm.not sleeping at night as I keep having nightmares about my car drowning my bank. I'm not sure I can part exchange it either as it's been bashed about a bit and not got a good service history. Any advise would be greatly appreciated . TIA

Ok so the car is where you suspect the money is going so cut back on your other spending, shop at the discounters, leave the brands on the shelf and buy own brand goods.

bigadaj

The things that jump out to me are that the job doesn't sound great, what are the chances of changing employment and increasing income?

More immediately if you are doing business mileage for work then you can normally claim tax relief on the difference between what you get from your employer and Hmrc published rates, that could be significant.

Anthorn

Cafuddlepants wrote: »

I will try and be brief but I'm.in a very big mess with my finances. I am £800 overdrawn and just can't seem to get out of it. I work full time although on a zero hour contract however hours stay generally the same. I have 3 kids and am married DH also works full time. I believe half the trouble im struggling is due to my car , I have spent a lot on it for repairs but I don't finish paying for it until Feb. I need it for work.as I am a home carer and can make up to 20 visits a day , my car is draining my petrol I'm putting 10 pounds a day in easily and I believe this is where most of the money is going. I only receive woo pounds a month petrol allowance. If I don't have a car I can't work and it's draining me. I'm.not sleeping at night as I keep having nightmares about my car drowning my bank. I'm not sure I can part exchange it either as it's been bashed about a bit and not got a good service history. Any advise would be greatly appreciated . TIA

Either you're a lenders' dream come true in being perpetually in debt or your bank is lax in not limiting/curtailing your overdraft or even recalling it. Tighten your belt, cut out luxuries you don't need and pay off more of the overdraft.

No details on the car so it's hard to comment. You need a car to work but do you need that car. What if you sell it and find a car which is cheaper to run and insure? Will leasing be cheaper with regard to servicing and repairs.

In conclusion you need a car to work so your options are to change it, increase your salary/wage or get a different job where you don't need a car and then get rid of the car.

Cafuddlepants

Thankyou for your replies. I cannot cut back much further then I have , we already shop at Aldi, I suppose I could make my eldest packed lunches instead of dinners however she will be upset about this. I don't know how I can replace the car as I am still paying the loan up until February and I don't know if they will take it as part exchange as its got a dent in the back and an off mirror and not been serviced in a garage (we do oil changes ourselves) I already get millage allowance from HMRC however that goes straight off my tax code so don't physically get any money back. I get £100 roughly a month mileage allowance from my employer but I spend around £70 a week in this car. Its a Zafira so not ideal for the job. I am a lot into the overdraft this month as I had to pay out repairs on the car and £80 AA membership came out my account. I'm just in such a mess with it all .

xylophone

Could you not work in a local care home?

Cafuddlepants

I have looked into this but I would need to then pay for child care because I have younger children and the shifts would mean I would have to have someone collect them from school, also half terms would be tricky also. where as now we don't clock in so I can shuffle my work around the children . I have looked into other jobs but the shifts aren't flexible at all.

glentoran99

Cafuddlepants wrote: »

Thankyou for your replies. I cannot cut back much further then I have , we already shop at Aldi, I suppose I could make my eldest packed lunches instead of dinners however she will be upset about this. I don't know how I can replace the car as I am still paying the loan up until February and I don't know if they will take it as part exchange as its got a dent in the back and an off mirror and not been serviced in a garage (we do oil changes ourselves) I already get millage allowance from HMRC however that goes straight off my tax code so don't physically get any money back. I get £100 roughly a month mileage allowance from my employer but I spend around £70 a week in this car. Its a Zafira so not ideal for the job. I am a lot into the overdraft this month as I had to pay out repairs on the car and £80 AA membership came out my account. I'm just in such a mess with it all .

So your getting an extra £30 on top of your costs, Its not the car draining your finances

DCFC79

As been suggested I would fill in an SOA and go over to the debt free wannabe board.

Cafuddlepants

70 a week for petrol £100 a month allowance ? so its costing me £280 in petrol just to drive around work, and I get £100 help, a lot of the carers only need to put on £30 a week for their cars.