Putting it all in to practice?!

EssexHebridean

Bedsit_Bob wrote: »

Ant chance your partner could work?

Even part time would give a boost to the household income.

I think he does Bob - it's just the SOA doesn't cover his income as well - which is explained by the £1000 going to the joint account and limited household expenditure being shown.

middleclassbutpoor

I would use the £1250 cash and just pay that off your credit card 2

and divert your Emergency fund savings, lottery and alcohol funds to your debts until these are clear and when clear, start focusing on saving.

fruitloop04

Bedsit_Bob wrote: »

Ant chance your partner could work?

Even part time would give a boost to the household income.

Hi Bob, yes he does He earns about £1,700 per month and pays some in to the joint too but we keep all our personal money separate!

fruitloop04

middleclassbutpoor wrote: »

I would use the £1250 cash and just pay that off your credit card 2

and divert your Emergency fund savings, lottery and alcohol funds to your debts until these are clear and when clear, start focusing on saving.

Thanks middleclassbutpoor, I am tempted to do this but our kitchen roof is not in good nick and although it hasn't started leaking and I am hoping it will survive the winter I want to keep this money for this just in case as we would need cash. I think I will reduce this though to £100 until the debt is cleared though as I am struggling to put this amount away! Definitely need to divert lottery and alcohol funds though.

fruitloop04

Keep the advice coming

[Deleted User]

fruitloop04 wrote: »

but we keep all our personal money separate!

Is that really possible, given you describe the debs as "our debts"?

fruitloop04

Bedsit_Bob wrote: »

Is that really possible, given you describe the debs as "our debts"?

Hi Bob, CC1 is 'our debt' and this is paid out of the joint account for housing renovations, CC2 is my debt and I pay it out of my money. We have always kept our money separate and just had the joint when we were looking to get a mortgage together.

Although reading other people's posts it sounds like I should not take on debt for the 2 of us! We have been together for a long time and my credit rating is better than his and I genuinely thought nothing of it but reading some people's situations on here, we will be saving for everything from now on and I will not take on joint debt in my name just in case.

Bythelight

Fruitloop,

Well done on having a LBM and paying off a good chunk of your debt. Think of all the interest on those sums you now don't have to pay. Secondly, if it was as easy as having a LBM and then a miraculous and easy change of spending habits, super quick debt clearing, and perfect meal planning for eternity, these boards wouldn't exist. You are changing habits and that takes time.

What support are you getting from your OH? Is he contributing to the EF (I assume its his house as well). Is he on board with the weekly shopping and food planning? Is he also paying off CC1 (as your joint debt?).

You may have some savings that you as a couple could make to your household expenses - a SOA for your "joint expenses" might help show those.