Debt, housing, mental illness, low pay

Mimi76

Hi,

I am 43, with 1 child. I live in a house work 280k with a mortgage of about 145k. Both are in my ex husbands name. I pay the mortgage £790 pcm

This arrangement bailed me out when my relationship broke down 3 years ago. We get on ok.

I had a diagnosis of bipolar type 14 years ago and I I haven’t told him. I haven’t needed to. I see a private consultant at £180 per appointment which keeps me in work. The NHS cancelled my appointment on the day whilst I was suicidal so I’m not crazy about giving this up.


Here’s the struggle-
079.00 Monthly
Clients Earnings £66.00 Monthly
Child Benefit £20.70 Weekly
Children's Tax Credit £22.32 Weekly
Maintenance £600.00 Monthly
EXPENDITURE
Item Name Amount Frequency
Total £1,910.92 Monthly
Mortgage £790.00 Monthly
Buildings and contents insurance £0.00 Monthly
Council Tax £93.50 Monthly
Water Rates £51.00 Monthly
TV Licence £12.54 Monthly
Life Insurance - Self £22.00 Monthly
Home phone £27.00 Monthly
Mobile phone £43.00 Monthly
Car Insurance £73.00 Monthly
Road Tax £11.81 Monthly
Fuel £105.00 Monthly
MOT and car maintenance £300.00 Annually
Breakdown or recovery £19.49 Monthly
Housekeeping £75.00 Weekly
Clothing / Footwear £20.00 Monthly
Health (dental, optical, prescriptions etc) £30.00 Weekly
Health (dental, optical, prescriptions etc) £10.40 Monthly
Health (dental, optical, prescriptions etc) £200.00 Annually
Hairdressing/Haircuts £20.00 Monthly
School Meals/Meals at work £12.50 Weekly
Hobbies and Leisure (inc pubs/outings, gym etc) £5.00 Weekly
Vets Bills / Pet Insurance £30.00 Monthly
Memberships Professional Subs £116.00 Annually
BUDGET OVERVIEW
Total Income: £1,931.42
Total Expenditure: £1,910.92
Available Surplus: £20.50


I don’t know how to add the budget here. Basically, I’m struggling financially.
I don’t have coffees, holidays, new clothes, sky tv, cigarettes/alcohol, takeaways,
Lottery, canteen food, participate in work socials.

I’m really finding life tough. I’m anxious about taking a lodger.

I sometimes become unwell if I work more than 45 hrs or 80 mile round trip

No family except 1 broke sister

All advice welcome (not nasty)

Pauline

sourcrates

Hi,


The problem here is you have mixed up annual, monthly and weekly payments, so makes this very confusing and of course inaccurate.

Use this calculator here, and follow the instructions to format for MSE :

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

DD265

Hi Pauline, welcome to the forum.

Can you go to http://www.stoozing.com/calculator/soa.php and put your numbers in there, format for MSE then post it here? You may need to do a bit of maths as I can see annual, monthly and weekly costs in your list.

There are a couple of things that stand out to me; firstly, you really need to get buildings and contents insurance. The buildings cover might even be a condition of your mortgage.

Secondly, would it be possible to get rid of your landline, and maybe reduce the tariff for your phone?

Lastly, what's the £200 per year health cost, if you don't mind sharing? I am guessing the £30 monthly is the private consultant, and the £10.40 monthly is an NHS PPC.

It might also help to know whether you and your ex are divorced? And I don't like to ask, but how would you feel about/would downsizing to reduce mortgage repayments be a viable option?

There are some great posters on here who will be along to help you make some room in your budget.

Mimi76

Hi, thanks for replying. I don’t know how to adjust. Payplan did it over the phone with me but will try.

Child maintenance is checked in December every year and is slightly over

DD265

sourcrates wrote: »

Child maintenance is quite high, can you re-negotiate that £600 ?

I read that as income rather than an expenditure, so it may not be in the OP's best interests to re-negotiate.

sourcrates

DD265 wrote: »

I read that as income rather than an expenditure, so it may not be in the OP's best interests to re-negotiate.

Yes of course you are right.

Mimi76

Hi, thanks for replying.

I can’t downsize as I owe 7k from manic spending a few years ago.

Equity of 135k approx would go to rental

I pay £180 per month to consultant psychiatrist. We’ll spent as keeps me alive.

Divorced 2008

Home buildings insurance in place. Didn’t include as I paid for it with money my previous boss gave me when I left.

TalkTalk won’t reduce tariff until April when contract ends

Thank you

a_silver_lining

Hi there

Your water rates seem very high, do you water the garden or have a lot of baths?

I can't see anything on there for gas and electric?

I can't see food shopping either?

Do you need the car for work? Or for family? Fuel is costing you 10% of your salary, plus maintenance annually and monthly insurance so it could be about 20% of your income. Could you sell and walk/ bus it in?

Mimi76

Bus would take a further 9 hours weekly and I don’t know if my mental health would hold up

I’ve stopped taking baths

I’ll try to post the budget again but Payplan were happy and the surplus was £21 a month

I’m thinking of

A - taking a lodger
B - selling and renting with proceeds of around 145k