Teetering on the brink.

Dumb_Blonde_3

Hi ceegee,

I'm sorry you are feeling low/worried/stressed - You've come to the right place!

I know you don't want to post a SOA and thats totally fine but I'm sure there are ways that 'we' can help you save money - there are some 'well clued up folk on this bored' - I started out on this board being 20k in debt but through sheer determination and the help from the lovely people on this board I got it cleared just in time before my son was born.

You've just mentioned council tax - well we are coming to that time in February and March where we don't have to pay out for it - why don't you say to yourself I'm still paying for it and use that money that you would have to pay out and put that into your savings account - its money you would have had to pay out for anyway.

Also on those lines - beginning in April with the new council tax - why don't you ask the council if you can pay it over 12 months instead of 10 months and use the difference to put into your savings account - you'll still pay the same but it will give you the chance to build up your emergency fund again - I get the feeling that you need that to feel secure.

Everyday have a look over on the freebies board too - I often send my husband into Debenhams/house of fraser etc with coupons for new make up - I currently have 4 Elizabeth Arden Mascara's to give away with xmas presents - although I'm finding the hard to part with - I'm sure with 2 daughters they would come in handy (birthday/xmas) there are soooo many things over on the freebies board - lipgloss / coffee samples / shower gel - it can become really addictive - its an exciting time when the postman arrives to see what delights he's bringing.

Another thing .............. Food shopping - try out the stores 'own brand' - if tesco's - try blue and white stripes - Asda - red and white etc - we've had 'insider info' on here to say that some products are made with exactly the same ingredients as the 'branded' products - its just the packaging that bumps up the price - just for example take the tesco's own biscuit selection - you get 6 packets of biscuits in there - 1 Nice, 2 custard cremes, 2 bourbons and 1 shortbread for about £1.10 ............... yet I can't tell the difference from the brand names of these biscuits that cost about 80p each - this is a mere example. At first I thought my husband would not go for it so I got clever with the packaging (well needs must and all that) and now he's a bit older and wiser he couldn't give a monkeys that he is sitting at his desk eating cheesy puffs (88p for 10) as opposed to £1.30 for 6 of wotsits.

If you want to post a SOA I'm sure you'll get more help from everyone on here

Garnet_Gem

Hi ceegee. Glad you're feeling better thanks to all the lovely MSE-ers who've replied to your post. I would hang on to the house if you can possibly manage it because if you've stayed for 21 years you must like it. If you moved and hated it you'd feel really low. Hopefully things will work out for you.

ceegee

Dumb_Blonde wrote: »

Hi ceegee,

I'm sorry you are feeling low/worried/stressed - You've come to the right place!

Gosh, Dumb Blonde (I feel rude, calling you that:o ), I have just spent nearly an hour replying to your post and the whole lot has disappeared with one hit of an incorrect button.:(

I have to go and get the s*****g car from the s*****g garage now. Then I have to go back to work (split shifts). I hope to come back tomorrow.

Thanks to everyone of you lovely lot.:A

boredofbeingathome

Hi Ceegee,:j :snow_grin
well done for posting. I wish i had been as brave as you before my financial affairs went belly up- a trouble shared is a trouble halved or in this case split over a lot of great financially savvy folk. I wish you well in your time of need. For some reason the financial oppression always hits hardest this time of year, apart from advertising bombardment, makeover shows- for that perfect house and shorter days etc. etc. I feel that i have learned a lot just by reading the posts andthe advice given, i think the one about the grants is great and the voucher/ freebie section. Something i will be looking into myself. Remember its only one month and take the time to compare mortgage deals using martin's advice vis a vis comparison sites YOU WILL FIND THE BEST DEAL FOR YOU.
All the best for the New Year and Christmas:rudolf:

belfastgirl23

Hi Ceegee

Might be worth having a look at this thread re your DDs contribution: this http://forums.moneysavingexpert.com/showthread.html?t=590399

A lot of people seem to think (and I'm one of them) that whilst it might be hard in the short term to agree an amount in the longterm you are also teaching your DD a very useful lesson about life, and one she's better learning from you than learning it in a far harder way...

Good luck!

katieowl_2

I'd have to say that my DH and I are two of the most hard core frugalites you are likely to come across....but I am wearing the same t-shirt as you today

This morning we sat down and tried to work out how to come up with the £350 we need for the Mortgage on Friday (5 Years left to run about £18K outstanding).....

My DH's work has just about dried up...it's been getting steadily worse for the last 18 months - it hasn't been this bad since the last recession (he is a joiner/cabinetmaker) he has had no 'big' jobs in the last two years, and just more and more of the odd jobs - we can't make these pay. He has overheads, a workshop with rent, heat and light etc. and the cost of materials is just going up in leaps and bounds. We have been in reciept of tax credits for eternity. I can't get a job cos' we just loose penny for penny off the tax credits, and I'd only get a low paid job anyway as I have commitments here at home. He's 57 and I'm 48 so not top of anyone's list for a job anyway. We both tried earlier this year - what fun that was.

My car (that I'd only had for four months - long story) had to be scrapped at the end of November, as it needed too much work to get through an MOT, that little bit of independence was the only thing keeping me sane, as I'd been in counselling for most of this year. I'm SOOOO depressed about this I can't even talk about it without crying....

We'd already decided earlier in the year that we needed to sell up, cash in the house, our only financial security and do it ASAP - but we have a DS 15 doing GCSE's and we didn't want to move him before the summer. We agreed to put the house on the market in February 08 and hope that it all falls into place. We are going to open a B&B in Rural Wales (another long story)

All through the difficult financial times we have had over the years,we had no debt other than DH's business overdraft. First my overdraft grew and grew, and finally in May of this year I reached the first month ever where I couldn't clear my balance in total every month. Since then it's just got worse and worse. I now owe half of my Credit limit, am virtually up to the limit on my OD, as is DH on his business OD, he is up to the limit on his personal account too, and he won't call the bank to tell them, as our mortgage is also with them, as he thinks (an he is probably right) that they will call in his business overdraft, effectively closing his work down completely.

IF this is happening to us... and believe me we are SO CAREFUL with money, it must be happeing to an awful lot of people. Everything has gone up and up.....Gas, Electric, FOOD council tax..... We have no luxuries in our budget!
When the Bank of England guy was talking about the financial 'perfect storm' last week it gave me shivers. We are certainly on the brink of our own 'perfect storm' It's my DD's 18th on Tuesdays (more on the CC) and then we have that little jamboree called Christmas......As far as I am concerned if we get the birthday done, christmas is cancelled.

Anyway I think I have fended the wolf from the door for another month - I have as long as the promised ££ in to DH come when they are supposed to, otherwise I shall be looking to my mother to bail me out (she has offered, but I asked her to wait until I was totally desperate) I'd rather have it in cash to feed us if it comes to it.

I have no savings left either. Like you I have been saying for ages, if something comes up.....we are stitched! (I am also in a flat where the repairs are split 50/50. Bad weather has me lying awake all night praying the roof doesn't leak. At least if you are broke and in a house where it's all yours you can stick a bucket underneath until you can afford to get it fixed! Top of my list for my next house!!!)

Lets all get together and chain ourselves to some railing somewhere!

Regards

LouBlue

ceegee wrote: »

Certainly if I downsized (and I do like cosy!) I am fairly sure that I could just about end up mortgage free. It sounds like a no-brainer, I know, but 21 years is a lot of history. As you so rightly say though, maybe I should try a different perspective.

Hey. Well done for posting.

I have been in debt for the past few years, so first of all, admire and applaud you for staying debt free for this long. :T

On the housefront, all I can say is that, I understand it is a lot of history but your family and your peace of mind is so much more important. And you will start making some new memories in your new place, should you choose to downsize.

The reason I say this, is because my dear mum passed away suddenly three months ago. She had lived in her house for 29 years, our family home, but it was rented. We had one week to clear the whole place so a new family could move in. It was horrendous. But three months on, it is my dear mum I miss, not the bricks and mortar.

Keep posting, I am sure you will get there.

RAS

Hiya.

Well done for getting this far in your circumstances.

Unfortunately, we get a lot of single mums whose finances start to fall apart when their children reach the age where they are no longer eligible for benefits or they start working. And sometimes it is the kids on here who have discovered that "mum is in trouble with Council Tax", because she has never explained that her dear child is legally responsible for half the bill.

In calculating your benefits, the agencies will assume that you get a set amount for rent from your daughter ( I cant remembber the exact amount but it is something in the region of £25 per week) and that she pays half the Council tax. In addition, she will be using power, eating etc and you will not be getting any money to maintain her.

Horrid as it is, she needs to contribute more to the household. And sadly, she needs to understand that if she does not contribute, then the roof over her head is at risk in the long term.

You may not want to put up a full SOa but there are some areas where people here are very good at identifying good cheaper alternatives and using www.quidco.com, for example, to get cashback.

It may also be worth finding out if you have a local credit union, as this can be a source of relatively cheap short -term loans if your savings dissappear.

And like a broken record, I would recommend that you sign up for your local group on www.freecycle.com so that when things go bust, you can get a free replacement, albeit that you might want or need to replace that a year or so later.

And as your daughters are getting older, do you have any clothes or anything in the loft that could go on e-bay, amazon etc?

belfastgirl23

Just wondering, how did you get on with the building society? You feeling any better today?

chevalier

Hi there
I hope that you are feeling a bit better today, but I would still go and discuss your low mood with your GP. It is very difficult to fight debt and depression!

Secondly ING do a mortgage with no fees I believe, so this may be a thought for getting a better rate. No harm in giving them a call to discuss. If you building society won't give you a decent rate, then have a look around on the compare sites like moneysupermarket.com for an idea as to what the market is like

Ref your job, have you asked for a better pay rise? Ie have you taken on more responsibility and this hasn't been recognised etc. I appreciate that this take guts, but surely you don't want to be taken advantage of!

Are you sure your EX OH is still not working? Might be worth making enquiries, every little helps.

Speaking of which there are sites on the web, that pay you for taking surveys, or clicking on (non dodgy) links. If you signed up to them it would help a bit more.

Ref your daughters. Hmm this is very tricky, but you need to sit down with both of them and explain how difficult things are. Your older daughter needs to understand that £30 is not enough. Ie show her the bills for council tax, heating, light if nothing else, and explain that you need her to cover her third (of the heating and light) and half of the council tax as a minumum, because the benefits system has taken that much away. I am sure she will be upset, but would be even more so if she suddenly had to find herself a place to live if you had to radically downsize (ie to a 2 bed place for you and your younger daughter). With your younger daughter can she do a paper round/saturday job to help out?

Finally if you have been with the same insurance, utilities and phone people for years, DON'T ASSUME that they are the cheapest. I switched car insurance this year and saved £120 odd. Not bad for 5 mins conversation:D . Cash back sites, like quidco.com and topcashback.co.uk, give you money for switch companies, so this would help too.
best of luck
chev