Worrying about debt everyday

Nola1

Hi everyone, I’m getting to the point that I’m thinking about our debt all the time but don’t see a way out. My husband is self employed and doesn’t put money aside for his tax and so when he gets his bill it hits us and we have to scrape the funds together and of course this has had a knock in effect of having to buy things on credit cards etc and has left us in a pickle. I have recently started a full time position and am now contributing £1000 into the bill pot. We had to remortgage this year and add on a loan to clear some of our debt hence now we are paying £1700 just for the mortgage. The problem is we still have credit card debts that are still racking up and I just can’t see a way out. I’d like to start clearing my debts as a start so would prefer to look at just my finances to see where I can start paying and cutting back. I just can’t go on like this  

tacpot12

I think I would start with a budget for you both. It will help you to understand where you are spending more than your income. 

Your husband should, of course, be putting money aside for tax. You have evidence of why not doing so is a bad idea. If he won't do it, you should try to understand why. He will have some thought in his head as to why it isn't necessary, and until you understand the way he thinks about it, you won't be able to get him to change. One option might be for him to give the money to you and for you to put it somewhere 'safe'. I put mine in premium bonds in the hope I win before the tax is due! 

You could also post a Statement of Affairs (SoA) here so that others can see your situation and provide further advice. You can use the SoA Calculator at SOA Calculator to help. 

gwynlas

Why not post a SOA here for some advice as to where you can cut back?
You really need to get your husband on board and/or take cntrol of his income to set aside savings for tax liability.