Now what...

BuilditBack

Thank you for the comments.

I've just paid off the Barclaycard. Literally just now. I used what little savings I have left and just cleared it. This probably isn't the best idea but I just had to start.

I'm so gutted with my life right now but at least I'm on my way.
I think I'll look for a second job and see about getting the Halifax card paid by the end of next year 2018.

5 year plan will be written up before year end.

MeenaM

Hi there

I know it is hard but you have to look forward not back, what's done is done , if you keep going over what you've lost and beating yourself up about it every day you will just make yourself ill.
It's great that you have a plan and I see that there is scope for extra income there from your wife going back full time .

you never know what may happen in the future , good things may very well come your way again, this may not be what you want to hear but money isn't the be all and end all, family is what matters most and you can still be happy without having the latest car or the most expensive house

i wish you lots of luck

enthusiasticsaver

You have a lot going for you. There is a surplus in your soa and a good wage. You have been frugal before and know how to deal with debt and just have the Halifax debt outstanding. A second job is a good idea if you feel you can cope with it. What is the plan re the car?

another_casualty

Wow! Very determined . One positive (imho);thing to point out ..mortgage payment £270.00 . The most important bill of all , but so many people pay a lot more per month . In the future you may well be able to even reduce that amount . You are probably aware of interest rate rising at last . I would suggest fixing the payment for the longest time possible . That means when the rate rises more over the next few years your payment will be the same .

You need to have some sort of emergency fund for a rainy day etc.

Lots more advice coming your way . However do not let this situation ruin your Christmas as I’ve already mentioned . Your health ( and mortgage / Council tax) come first .

HairyHandofDartmoor

I know it seems like an awful situation and you may not get the shares option again, but you can snatch victory from disaster. You've done it before, you have the skills, and you can do it again.

Do it for your wife and your daughter, as well as yourself. And don't blame yourself, plenty of people make awful mistakes with money. You are not alone.

You sound very determined so I know that you are capable of pulling this off. Good luck .

BuilditBack

Thank you all for the excellent comments. They really help.

Re: the car - Lease car will go back. It costs me £270 per month and £70 insurance. The lease runs out in January. There's a good chance I'll be stung for additional charges. (Excess mileage, scratches etc).

I'd be happy with a £500 banger to get by with for the next couple of years. The wife may want something a little tidier though. Say £5k worth on a car loan. Either way there is a big saving to be made there. Between about £205 and £300 per month I'd estimate.

That's a great suggestion regarding the mortgage interest rate. I'll get on that tomorrow.

Thanks again.

EscapingTheAlarm

Good luck BuilditBack! I haven't got lots of great advice but I have every faith that you can get through this! I'll be cheering you on as you go!
ETA x

BuilditBack

I've listed 18 items on eBay. I don't think they will achieve a huge amount but whatever I get will go toward the Halifax card. I'm going to try get items listed on eBay every month.
I need to declutter anyway. This will help.
Time to get in the loft and dig out some stuff too.

It's amazing the mental difference it makes when taking some positive action.
Long way to go but I'm off that mark.

Thank you again everybody. You've really helped me today.

fay66

Good luck and dont get too hard on your self, money isnt everything to want to think dark thoughts, and doesnt look like your soa is in too bad shape.

BuilditBack

Some good news.
My wife went for an interview yesterday morning for a call centre job. She was offered the job right away and now has a start date of the 4th January! I'm really proud of her.
It's 16k basic per year with potential for bonus every month. So she's more than doubled her net income straight away.

This will help.