Any one got a magic wand

FunLovinCriminal

I am looking for advice
Situation
50yrs old working in a supermarket
£10k owed to my brother. Borrowed two years ago, I keep checking, doesnt need back. We are paying £170 a month into a savings account, currently earning 3% interest. He is happy when we reach £10k with interest, should be 2028 when we reach target.
Paying £100 to a savings account - originally for a holiday, but highly unlikely. Balance £800 paying 3% interest
Mortgage advisor has found an issue with our roof, structurally, structural advisor is £600 + vat
Car failed MOT, £500 fix
I just am at wits end trying to balance the books.
No overtime at the moment. But when do I work?
Wife starts at 6am, so I get kids up, iron, and take to school. I then work till 7pm.
I do an overtime shift on a monday.
I just am struggling to see a way out. I watch Dave Ramsay, he talks of snowballing, and emergency funds.
Because of kids ages, would like a holiday, because as they get older, are they really going to want a holiday with us? Just now is a lovely family age. 
Can anyone advise on a plan?

Emmia

A statement of affairs to show where you're spending the money you have would be a good start. From there forum members might be able to identify areas that could be reduced in cost or ways of freeing up more of your income.

https://www.lemonfool.co.uk/financecalculators/soa.php

cantbelieveit23

Sorry, no magic wand, but you could start by changing to savings accounts which earn more than the 3% you are currently getting.  Are the two accounts you have fixed?  We have First Direct, Santander, NatWest and Coventry BS accounts which pay significantly more, but check MSE for best current deals.  Stoozing with a 0% purchases credit card (which you might be able to use to pay for roof/car) so you can build up savings at a good interest rate?  A combination might allow you that holiday now, but you would obviously need to accept that future savings will need to pay off credit card and/or brother as a priority.  However, these suggestions don't take into account more detail about your financial situation, so may not work for you.  Good luck! 

Brie

I'm going to move this out of the diary section so your post gets more exposure from them what knows.

But I second the idea of completing a statement of accounts and then posting it back on this so people can help you fine tune your budget.  Do try to use the last couple of months bank/credit card statements to make the numbers as accurate as possible with no "it's about £XX a month" as that doesn't really help.  

Best of luck - there is a solution out there for you , we just need to help you find it.

PennysIntoPounds

Unfortunately you can't afford a holiday at the moment so don't give yourself extra stress by adding it to your feelings of trying to make ends meet. Lots of folk not able to afford holidays at the moment, it's not a reflection on how hard you work or how much you love your family.

How serious is the roof issue and how soon does it need to be done?
How often do you use the car and are there realistically cheaper if a bit less convenient options?

You can pay for one of these bills with your not-brother savings, it's up to you which is more pressing.

Why is there a mortgage advisor involved, are you selling? Is the place you're moving to cheaper? Or nearer schools/shop/work so you can sell the car and put it towards other bills/emergency fund?

Agree with others that it's helpful to do a SOA, we might be able to see if there are savings to be made which will accumulate

Have you also checked you're getting all the benefits you're entitled to?

Good luck 🙂

sourcrates

An SOA will show us where your money is going, and we may be able to help you stop the rot.