Newbie needing help!

Debt_Free_Chick

piggybank68 wrote: »

You will also see that my son and I have a hobby. Please, please, dont tell me to give them up. Its the only thing that keeps me going - its my stress relief - I have a very stressful job too and I had this to help me chill out. As for my son, well he doesnt get pocket money, he doesnt see his father (fathers decision) and this one thing keeps him happy.

Two things .... I'm not going to suggest that you give up the horses, but can you help to finance the costs? Could your son muck out at weekends in exchange for a free lesson a month or something? Talk to the school - no need for all the financials, but if you tell them that your income is low at the moment due to illness, they may be able to help. Be very wary about deferring payments though as this will simply increase your debt.

The other horse cost - is this livery? Full? Can you take less livery and do some yourself?

I'm still not going to suggest that you give up (I have too many friends in a similar situation and I might as well suggest that they fly to the moon ), but it has to be said that the amount you spend on the horses is more than 1.5 times what you spend to feed yourself and your son. Think about it ..... not about giving up, but how you can cut that cost.

Secondly ..... no maintenance from your son's father? Why not?

Debt_Free_Chick

piggybank68 wrote: »

Thank you!

Just had a restless nights sleep, waking on and off thinking about my bank account. :eek:

Would anyone think it would be a good idea to cancel all my DD /SO of loans and credit cards that are to go out of my account from now until payday. I should be able to do that on phone banking ?

What do I do then, sit and wait for them to contact me saying I have missed a payment - wont that go against my credit scoring? I panic about things like.

Can anyone help please?

piggybank68 wrote: »

MONTHLY INCOME
Wages £1232.33
Child Benefit 72.40
TOTAL £1304.73


MONTHLY OUTGOINGS

TOTAL OF OUTGOINGS £1199.03

MONEY LEFT EACH MONTH £105.70

TOTAL OF DEBTS £19498.00

You have enough income to pay all your outgoings AND have £105.70 left over each month.

You must be spending money somewhere else ... and it's this that you need to understand. Think of it this way ... the money you are supposed to use to pay your debts is being spent on other things. You need to understand what you're doing with that money. Must you buy what you're spending it on?

If you can simply stick to your budget and then spend only £100 a month (less if you can), then you're not in a pickle at all

But you must identify that "other spending" and get it under control.

Merlot

You have some great advice, and I can only echo what others have said, the horse is costing a fortune, you need to reduce that down a wee bit, and start a spending diary, the left over money is being spent somewhere.

As my mother said to me "you can't live a champagne lifestyle on a lemonade budget", and I'm not being nasty, I'm being honest, I have had to make huge cut backs and I think you are in a slightly better position than I was at the time I had debts, their is light at the end of the tunnel on this one, but only you with our help can make these changes, and they may be suggestions that you don't want to hear.

MrsB68

Debt_Free_Chick wrote: »

You have enough income to pay all your outgoings AND have £105.70 left over each month.

You must be spending money somewhere else ... and it's this that you need to understand. Think of it this way ... the money you are supposed to use to pay your debts is being spent on other things. You need to understand what you're doing with that money. Must you buy what you're spending it on?

If you can simply stick to your budget and then spend only £100 a month (less if you can), then you're not in a pickle at all

But you must identify that "other spending" and get it under control.

I am usually on that amount each month and can cope - but I am off sick at the moment so my wages are half of the amount that I stated - this is why I am struggling at the moment.

Debt_Free_Chick

piggybank68 wrote: »

I am usually on that amount each month and can cope - but I am off sick at the moment so my wages are half of the amount that I stated - this is why I am struggling at the moment.

Ah - I'm sorry. I misunderstood. So you're £500-600 short each month now. Is your petrol still £130 a month, now you're not working?

It is going to be difficult to find £500 of savings in your current budget - especially if the horse expenditure is "untouchable". To be honest, you simply don't have the money to spend on the horse activities.

I assume all the debts are yours alone and none are joint with your ex?

Have you rejigged your budget based on the situation "now"?

I don't see why you're not getting anything from your ex. What do the CSA say about this? You are entitled to something, aren't you?

Merlot

Debt_Free_Chick wrote: »

Ah - I'm sorry. I misunderstood. So you're £500-600 short each month now. Is your petrol still £130 a month, now you're not working?

It is going to be difficult to find £500 of savings in your current budget - especially if the horse expenditure is "untouchable". To be honest, you simply don't have the money to spend on the horse activities.

I assume all the debts are yours alone and none are joint with your ex?

Have you rejigged your budget based on the situation "now"?

I don't see why you're not getting anything from your ex. What do the CSA say about this? You are entitled to something, aren't you?

I too misunderstood the situation, I can not see how the OP is going to make things add up.

I feel really frustrated on this one, as I can't offer any real solutions to the OP which they want to hear.

Merlot

MrsB68

First off what does OP and LMB mean?

Secondly, I have looked at my outgoings again, and like I said I had over estimated on the horse and the nearest figure I can get is now £69.00 so I was way, way, over.

However, from the last comments recieved I think my membership here as been short lived and I shall not seek advice again. You are not here to judge me but advise me.

Merlot

piggybank68 wrote: »

First off what does OP and LMB mean?

Secondly, I have looked at my outgoings again, and like I said I had over estimated on the horse and the nearest figure I can get is now £69.00 so I was way, way, over.

However, from the last comments recieved I think my membership here as been short lived and I shall not seek advice again. You are not here to judge me but advise me.

Firstly OP mean original poster and secondly LBM - Light bulb moment.

I am not judging you at all, I would never do that, I am fully aware of what it is like to be in a temporary pickle.

What I am saying is and I didn't want to hear the comments when i posted on the DFW a few years ago, sometimes things have to change which we don't want to change, and we can only advise you, and in my honest opinion I and others have advised you that the horse is costing too much for your income at the moment.

I'm truly sorry if you don't like what I have said,you have had some good suggestions on this thread.

Merlot

dancingfairy

Don't let one person put you off -it would be shame to think you let one person put you off. Unfortunately you can't stop people saying what they think - at the end of the day they may not have put it well.

Anyway - have you tried petrolprices.com to find the cheapest petrol in your area. I haven't tried it but it might help?
Also can you 'share' your horse with anyone or charge people to ride it - mothers with children that want to ride but can't afford a horse on their own?
With regards to the birthday tomorrow- what can you give your son that won't cost a fortune? can you buy second hand games if he into consoles? cook his favourite chocolate cake/meal? buy a book on horses from a cheaper bookshop that he would enjoy just as much if it cost double? Can you explain to him that unfortnately this month is expensive as you don't work and buy him some small presents and promise him something later in the year as suggested above?

Keeping_Positive

Please dont give up on this site becasue you dont like a post or two. There will many others that will help. The poster was in their own way trying to help.

With regards to signing up PM eagerlearner for her email on daily clicks it has quite a few sites and good info on how to make as much money from them.

If the DDs are going to bounce and/or incur charges then yes cancel and arrange a payment plan that you can afford with the creditor.