I need to get on top of this

defintelythisyear

so I created an account on here years ago, determined to better my finances, and for the most part I was on my way to a better living situation financially. However, this year me and my husband separated and now I am struggling on a single income.


I have remained in the joint home and we share care of our children equally, so he gives me no financial support. I'm now trying to get on top of my debt and better my credit rating with the aim of buying him out of the property.


I havent done a SOA.......... but next month I plan to log all I spend so I know where my money goes.


my income is 2130 per month and my outgoings around 1800

Narola1976

Good luck, definitely do a SOA so you can really see what you are spending. Also recommend Ynab - they do a free 34 day trial - its a budgeting app. There may be others that are free that others can recommend.

Loubyloux

Good Luck!

I use YNAB as well, had it for 4 years - best thing I ever did! I think it is possible to do this all on a simple spreadsheet though.

As you say track everything you spend - even that 50p cuppa in the canteen see where all your money goes and then set yourself a budget. I find a cash system works for me when it comes to food, fuel etc as I can easily see what I have left for the week and make an informed decision on whether or not I need that extra bag of doughnuts in the shopping

maysmummy

Sorry to hear of your change in circumstances . That must be difficult especially if you have taken on what solicitors call the 'former marital home'. One thing I would recommend that you work through as soon as possible, though: is it realistic to stay there, or will you have to move? It's not that many people who can afford on one income what they bought or rented on two incomes. I wish you well