Overwhelmed

Rubyblossom

Not sure if this is appropriate for this Debt Free. I felt it was and need to get it out as anyone close to me does not know about my debt, they know I may not have much money.

Since I last posted my life has turned really hard. I am just feeling very overwhelmed by all elements of my life, and today I have been barely able to function because my head just feels whirling with ao much.

A little background to my current situation. I am a single Mum, I work 18 1/2 hours a week in just above living wage job that I love. I was private renting with some help coming from Housing Benefit. I get child maintenance it isn't alot but helps. My current debt stands at 4679.00 (Made up of c/c, loan and overdraft) but to get ahead with bills for a month lets say 5000.00. I feel like I will never get straight.

This last year has been hard as a close family member is has been taken ill and now terminally. In June they needed someone to live with them, so my sibling and I shared half a week each. Which meant moving my kids twice a week. I and my kids where up for it because we wanted to help. Come September my sibling could not carry on and so it was decided I would move in. So I told the council and my housing benefit stopped. The person I care for offered to help with paying my rent until I had moved my stuff and cleaned it up. I have no help so between caring and the kids and working, it is all hardwork.

Now Christmas is coming and dreading where to find the money, the time to do the shopping and wrap things. I normally love Christmas and just feel desperate. There seems plenty of help for Carers just not the practical help I really need for other things.

I am tired, depressed, anxious (have seen and medicated by GP) and overwhelmed by my To Do List. I wake with dread as that makes me feel guilty for not valueing what I have. One day I can plough through things and seem to knock things off and then a load more things that get added. So you can imagine finding the time to make a budget is on there. I have a rough one from a while ago, but things have changed. I have managed to type this out over the course of the day inbetween things.

I am also living with the fact that by racking up my debt I have managed to kill my own dream of owning the family home.

I am not sure if anyone will have any advice, I just needed to get it out.

MoneyMate

Sorry to hear about your problems, can your local citizens advice bureau CAB help .

sourcrates

Hi,

Your debt, in the grand scale of things, is not Hugh, although I appreciate it's Hugh to you.

Start by filling in a SOA (statement of affairs) link here :

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

We can then see where your money is going.

If you have £50 or less left at months end, and have no assets a debt relief order may work for you, simple and quick.

Do the SOA first, then more detailed advice can be given.

Rubyblossom

Thank you for your replies. I filled in the SOA, and was pleasantly surpised I have £200 spare a month. So I can make a real difference to it. I was just scared to look. I am a bit nervous about posting my SOA.

I think I have worked out by reading a few things I need to get the Overdraft paid off first.

The SOA has shown me my budget, so wish me luck.

Rubyblossom

Oh no I did it wrong . I had my childcare costs at weekly and not monthly.

I will try and post my SOA.

Rubyblossom

Household Information
Number of adults in household.............1
Relative I care for finances seperate.
Number of children in household......... 4
Number of cars owned.................... 1

Monthly Income Details
Monthly income after tax................ 545
Partners monthly income after tax....... 0
Benefits................................ 1646
Other income........................... 200
Total monthly income.................... 2381

Monthly Expense Details
Mortgage................................ ..... .0
Secured/HP loan repayments.............. 0
Rent.................................... 520.00
Management charge (leasehold property).. 0
Council tax............................. 131.00
^ Halved in Jan
Electricity............................ 80.00
Gas.................................... 80.00
Oil..................................... 0
Water rates............................. 18.35
Telephone (land line).................. . 0
Mobile phone x 3...................... 50.00
TV Licence.............................. 12.12
^ Going in Jan
Satellite/Cable TV...................... 0
Internet Services....................... 0
Groceries etc. ......................... 200.00
Clothing in kids and uniforms 50.00
Petrol/diesel........................... 100.00
Road tax................................ 17.93
Car Insurance........................... 63.92
Car Maintenance 20.56
Car parking...........................................80.00
Other travel................................................. 0
Childcare/nursery..............................502.00
Other child related expenses........... 120.00
Medical (prescriptions, dentist etc). 0
Pet insurance/vet bills.............................. 0
Buildings insurance................................... 0
Contents insurance............................ 13.88
Life assurance .......................................... 0
Other insurance..........................................0
Presents (birthday, christmasetc). 90.83
Haircuts.............................................. .10.00
Entertainment..............................................0
Spends 5.00
Holiday.................................................... 0
Emergency fund.......................... 0
Pension 2.10
Total monthly expenses................. 2157.69

Unsecured
C/C...............................500.00..... 50...............0
Loan...........................1333.50....116................0
Overdraft...................2850.00.....40..........18.28
^This is just the monthly interest not paying any off.
Total unsec debts..4683.50....206......

Monthly Budget Summary
Total monthly income.................... 2,381.00
Expenses (including HP & secured) 2157.69
Available for debt repayments....... 223.31
Monthly UNsecured debt repayments....... 206.00
Amount left after debt repayments.... 17.31

Created using the SOA calculator at https://www.stoozing.com.
Reproduced on Moneysavingexpert with permission, using other browser.[/font]

DCFC79

Do you find that you have £200 left each month ?

Pay for groceries with cash, look at what you buying eg is own brand cheaper, something is on offer but is it really an offer when an alternative is cheaper.

Where do you shop ?

Do you buy yellow stickered items ?

What about getting cheaper phone contracts ?

Apologies if its obvious, just looking at where you can cut back.

Rubyblossom

Thanks no I don't have £200 spare I had calculated the childcare as one week instead of monthly .

The shopping is for 5 of us as well as two cats. Main meal meat, washing powder, and fruit is paid for by my Father for my help in cooking and cleaning.

The phone contracts I think I am tied in for another year. £50.00 covers three phones.

Not sure if that can be cut back more?

The rent will go in a few months, and then at some point I will inherit half of this house.

I suppose the rent and council tax saved will pay things off quickly.

DCFC79

Are the 3 phones on the same network, if they are maybe see if you can get them all cheaper, if your tied in for another year look at it next year.

Do you shop at Asda, Tesco or Aldi, Lidl ?

Rubyblossom

I mostly shop at Asda. I buy mostly Smart Price, cereals are Asda own brand, the only brands are Warbutons Bread and Fairy Liquid.

The phones I will give them a ring.

Just thought suddenly will anyone give me a discount for working for NHS. I get it on my childcare?

On_my_way

Hi

Firstly, your debts actually aren't that bad - many people on here with good budgeting and earning have cleared much higher figures.

You put on your SOA that you have 4 children, does their father not pay maintenance for them? If they don't perhaps this is something that CAB may help you to persue.

Can your dad help you with some childcare to reduce that expense?

Good luck, you can do it.