Absolutely Broke

theoretica

Have a look at this months and last months pay slips to help work out why your pay is different. Trying to budget without knowing how much money you have coming in is hard.

zippygeorgeandben

You really need to do an SOA as people are suggesting. You'll get better advice then.

Money_maker

zippygeorgeandben wrote: »

You really need to do an SOA as people are suggesting. You'll get better advice then.

Exactly this. That way you can find out where your money is going rather than sitting on this merry go round of debt which isn't going to stop until you take control and make a sensible plan as to how you can resolve this.

0Credit

This is a horrible situation and many of us will know the feeling/have come close.

The good news is that you are in basically no debt! An overdraft and no credit cards is pretty normal so try not to get to scared.

Luckily things like gas, electrics and water can be sorted if you just ring your supplier. They deal with financial difficulty daily and can even drop down your monthly payments (it will just mean you continue to pay these for longer) but it will keep collections away from your door.

As for your overdraft what rates is it? How much? Who with? Again these are probably quite easy to manage and again if you speak to your bank they can probably help.

Thinks you should do:

1) Track your spending (I use ZOLT app) or just a spreadsheet online works fine.

2) Speak to all the companies you spend money with each month: Even if you have say SKY TV you can get discounted rates there also.

3) Make food/living a priority.

4) Look at moving debt. MSE have bank moving deals (get £100 for moving bank) all over the site.

5) Sell sell sell. Have you got anything in your home you don't use or need? Ebay, gumtree, clothes banks, boot sales etc are all very easy and cost nothing until you sell (usually).

This should get you on track. Just take a day out of your life, get it all sorted and breathe.

tallyhoh

Hi,
I work at a food bank & have a lot of people there in your situation. Just ask them where you can get a voucher from. Its different places in different areas.

Potbellypig

At 22 you've got lots of time on your side, so don't panic.

As suggested, pop up a SOA and people will be able to give you some advice on where you can cut costs.

Sncjw

Also could you pay a certain amount each month to the gas and electricity people so you build up a credit as you won!!!8217;t use your gas as much in the summer. Then you will be covered for eh Winter this year

John_Jones

You need to get a handle on what is coming in and what is going out, as otherwise the way you feel now will become the way you feel always. There is no route to security and contentment without ensuring, absolutely with certainty, that your expenses do not sum to more than your income.