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Not making ends meet

CoolBeans22
CoolBeans22 Posts: 63 Forumite
Seventh Anniversary 10 Posts Combo Breaker
in Debt-free wannabe
Hi, I have posted on here a long time ago and seem to take take two steps forward and then a dozen back!  We have streamlined everything we possibly can, we have rehomed much loved pets, we are living with an IVA and renting but just cannot make ends meet.  We both have health issues already and this is adding to that hugely.  My husband works full time and I am currently on furlough.  Is there somewhere to pOST our numbers and get help PLEASE?
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Comments

  • kimwp
    kimwp Posts: 3,100 Forumite
    Fifth Anniversary 1,000 Posts Photogenic Name Dropper
    This is the place! I'm sorry to hear that you have had to rehome your pets. If you post your statement of affairs (https://www.lemonfool.co.uk/financecalculators/soa.php) on here, then fellow forumites can advise. Remember- the numbers need to be your actual spend, not what you'd like or think you should be spending. 
    Statement of Affairs (SOA) link: https://www.lemonfool.co.uk/financecalculators/soa.php

    For free, non-judgemental debt advice, try: Stepchange or National Debtline. Beware fee charging companies with similar names.
  • CoolBeans22
    CoolBeans22 Posts: 63 Forumite
    Seventh Anniversary 10 Posts Combo Breaker
    kimwp said:
    (https://www.lemonfool.co.uk/financecalculators/soa.php)
    Thank you for the link but there seems to be an error with it, is it a format that it needs to be in?
  • CoolBeans22
    CoolBeans22 Posts: 63 Forumite
    Seventh Anniversary 10 Posts Combo Breaker
    Sorry, link seems to be working now!
  • CoolBeans22
    CoolBeans22 Posts: 63 Forumite
    Seventh Anniversary 10 Posts Combo Breaker
    Below is our SOA.  I have been honest but as you will see, there are a number of fields that should be filled in e.g mot, emergency funds, birthdays, Christmas etc, but we don’t have any surplus funds.  There is certainly no room to ‘live’.  We are just living in a mundane merry go round that isn’t very merry!  We have already rehomed two cats but we still have two dogs and we will not be rehoming them.  
    There just doesn’t seem to be any light at the end of the tunnel and it is hugely affecting our health.  Any help would really be appreciated and I am happy to answer any questions that may help. THANK YOU.

     font=courier new][b]Statement of Affairs and Personal Balance Sheet[/b][b]

    Household Information[/b]
    Number of adults in household........... 2
    Number of children in household......... 0
    Number of cars owned.................... 2[b]

    Monthly Income Details[/b]
    Monthly income after tax................ 480.03
    Partners monthly income after tax....... 1316.11
    Benefits................................ 0
    Other income............................ 0[b]
    Total monthly income.................... 1796.14[/b][b]

    Monthly Expense Details[/b]
    Mortgage................................ 0
    Secured/HP loan repayments.............. 0
    Rent.................................... 750
    Management charge (leasehold property).. 0
    Council tax............................. 128
    Electricity............................. 98
    Gas..................................... 0
    Oil..................................... 0
    Water rates............................. 22
    Telephone (land line)................... 33.09
    Mobile phone............................ 23
    TV Licence.............................. 13.55
    Satellite/Cable TV...................... 0
    Internet Services....................... 32.15
    Groceries etc. ......................... 236.69
    Clothing................................ 40
    Petrol/diesel........................... 80
    Road tax................................ 17.5
    Car Insurance........................... 28.52
    Car maintenance (including MOT)......... 0
    Car parking............................. 0
    Other travel............................ 0
    Childcare/nursery....................... 0
    Other child related expenses............ 0
    Medical (prescriptions, dentist etc).... 36.81
    Pet insurance/vet bills................. 89.17
    Buildings insurance..................... 0
    Contents insurance...................... 0
    Life assurance ......................... 0
    Other insurance......................... 0
    Presents (birthday, christmas etc)...... 0
    Haircuts................................ 0
    Entertainment........................... 0
    Holiday................................. 0
    Emergency fund.......................... 0[b]
    Total monthly expenses.................. 1628.48[/b]
    [b]

    Assets[/b]
    Cash.................................... 0
    House value (Gross)..................... 0
    Shares and bonds........................ 0
    Car(s).................................. 450
    Other assets............................ 400[b]
    Total Assets............................ 850[/b]
    [b]
    No Secured nor Hire Purchase Debts[/b]

    [b]Unsecured Debts[/b]
    Description....................Debt......Monthly...APR
    CREDIT CARD....................878.......29........23.93
    Catalogue......................295.02....11.8......58.7
    ISA............................0.........106.......0[b]
    Total unsecured debts..........1173.02...146.8.....-  [/b]

    [b]
    Monthly Budget Summary[/b]
    Total monthly income.................... 1,796.14
    Expenses (including HP & secured debts). 1,628.48
    Available for debt repayments........... 167.66
    Monthly UNsecured debt repayments....... 146.8[b]
    Amount left after debt repayments....... 20.86[/b]

    [b]Personal Balance Sheet Summary[/b]
    Total assets (things you own)........... 850
    Total HP & Secured debt................. -0
    Total Unsecured debt.................... -1,173.02[b]
    Net Assets.............................. -323.02[/b]

    [i]Created using the SOA calculator at www.LemonFool.co.uk.
    Reproduced on Moneysavingexpert with permission, using other browser.[/i][/font]
  • Galloglass
    Galloglass Posts: 1,288 Forumite
    Fifth Anniversary 1,000 Posts Name Dropper Photogenic
    The first question will be why one wage and not two. Not a reflection or comment, just enquiring to see if there is a way to increase income.  
    • All land is owned. If you are not on yours, you are on someone else's
    • When on someone else's be it a road, a pavement, a right of way or a property there are rules. Don't assume there are none.
    • "Free parking" doesn't mean free of rules. Check the rules and if you don't like them, go elsewhere
    • All land is owned. If you are not on yours, you are on someone else's and their rules apply.
    Just visiting - back in 2025
  • strawb_shortcake
    strawb_shortcake Posts: 3,515 Forumite
    Tenth Anniversary 1,000 Posts Name Dropper
    Do you need both mobile and landline? 
    We have a landline included with the internet but don't use it, I pay £22.99 a month for this. 
    Also mobiles, I know lots of people say sim only but not sure how much these are? I'm with Tesco mobile and pay £35 a month for 4 phones but you could get two smart phones for £15 a month.
    Make £2023 in 2023 (#36) £3479.30/£2023

    Make £2024 in 2024...
  • jazzyja
    jazzyja Posts: 400 Forumite
    Seventh Anniversary 100 Posts Name Dropper
    Ive been in this position. Only thing i had to do was get a better job (I know this isn't easy nor an option for everyone) but is it an option? Or increase your hours an option? 
  • Grumpelstiltskin
    Grumpelstiltskin Posts: 5,609 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    You say you have rehomed pets yet you are still showing pet expenses, also medical could you break that down please.
    If you go down to the woods today you better not go alone.
  • Andyjflet
    Andyjflet Posts: 708 Forumite
    Part of the Furniture 500 Posts Photogenic Name Dropper
    The problem here is income, you really are not earning enough to pay your four walls costs first and foremost. Your rent alone is over 40% of your income and here lies the problem, this should be around 25% or less.

    Therefore, as drastic as it sounds you need to either move to a cheaper area where rent is £425 a month or increase your earnings. Sometimes you have to get out and build the income, I recently did Amazon for extra income and am making changes. 
    Baby Step 6/7 . £16000 saved and invested. £47,000 deposit paid on new home DEBT FREE !!!
    Currently Negotiating with HMRC !
  • zippygeorgeandben
    zippygeorgeandben Posts: 1,277 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Debt-free and Proud!
    You have to look at ways of increasing your income here.  Unless living in London where it is usual to pay up to 50% of your salary in rent, you need to look at increasing your salary.  The grocery amount seems quite specific, is there ever any 'nipping out' to the shops to buy extra things.  They all add up!
    What does the £40 per month on clothing cover?  Has that been needed since lockdown?  Even out of lockdown I don't spend money on new clothes every month.  Just opinions.
    PS Sorry about the cats but you have been brave indeed.  Get yourself sorted and then maybe cats can become part of your life again in the future.
    Savings as of April 2023 Savings account - £26460.50(14474.88)Current account - £2140.24(4576.79)Total - £28600.74(19051.67) £1010 (£65pm CS/BS) £250 CS/BS/JS
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