I have no idea where to go from here.

lookstraightahead

Hi there

Can't you go and get some temporary work while you look for a permanent job? Ditch the business for now, you can't afford it. Are you running it from home?

EssexHebridean

poppasmurf_bewdley wrote: »

Your groceries at £120 is way too high for two adults and a child. I would be looking to bring this down to around £80 if not less. Change to Aldi, Lidl and Iceland. Cook in bulk and freeze meals.

Sorry Poppasmurf but I don't think that's realistic. I could do it, you could do it, but the average person new to MSE ways, nope, not a chance, and suggesting that's what they "should" be able to do risks frightening them off altogether. There's also a risk that we put people off buying the fresh fruit and veg that really, we should be encouraging them towards.

Candyapple

Emjay85 wrote: »

Bank Overdraft Charges.................. 12 (overdraft amount £250)

Unsecured Debts
Virgin Card....................70 @0%interest (total debt £6,352)
Debt Recovery...............120
Halifax Mastercard.........50 @0%interest (total debt £1,320)

From your other thread, you mention the Virgin 0% deal will be ending in September so along with the HMRC £12k debt repayments beginning, you will also have this to contend with also and the interest will start accumulating meaning you are more than likely going to fall into a debt spiral unless you tackle it now.

What is debt recovery? Is this a monthly amount you pay?

When does your 0% deal run out with Halifax?

What is the credit card limit on Halifax and also Virgin?

Which bank is your overdraft with and is this a joint account?

Does your partner have any credit card / loans / overdraft debts in his name?

Is he able to apply for a 0% BT card in his name to move over the Virgin / Halifax debts?

I think you have also missed a lot off your SOA and your true budget will mean you are actually not £60 in credit at all, probably a deficit of hundreds instead.

What about birthdays / Christmas etc. presents?
Clothes?
Haircuts? Not only for you, your partner and child?
Medical (prescriptions, dentists, opticians etc.)?
Entertainment?
Holidays / days out?
Emergency fund?

Scottishbargainhunter

Do you have any other deductions coming off your Universal Credit? They can take up to a maximum of 40% of your standard allowance for any debts, but a max of 25% for HMRC debt. If you feel like this would be too much then you can contact the departments debt management team to discuss reducing the amount being taken. They are usually very helpful however if you get someone that isn’t helping you I suggest ending the call and calling back to get someone else.

Lord_Dante

For your childcare are you using a tax free childcare account? That could save you a fair bit if you aren't using it already.

https://www.moneysavingexpert.com/family/tax-free-childcare/