Had my remortgage meeting and...

JF77

The only solution I can think of is a part time evening job where, 1 night per week could earn you £25 which monthly would be £100 covering the additional amount and, giving you an extra £50 to cover any childcare costs. I work at a local concert venue 4 nights a week but, I am lucky enough to have free childcare (my lovely hubby)

Gorgeous_George

Cuba Cat

Where do you work? Is promotion a possibility? Or overtime? A couple of hours per week on a second job should easily bring in £50 per month. Take in ironing or clean someone's house. There's a million ways to earn £50 per month.

GOYA

GG

ElleWoods

I've thought of doing another job too, although I already work full time so hardly see my son as it is! Plus it would mean finding extra childcare, plus paying for it. I'm a single parent so don't have a hubby handy to look after DS - can I borrow yours?!

ElleWoods

Hi GG,
I work in an office, no chance of promotion as I've discussed this recently, and we don't get paid for any work outside normal hours. As I mentioned above in reply to JF77, I've considered an evening/wkend job but would need to pay for the childcare.

What's GOYA? Sorry, showing my ignorance there!

ashcarrot

Think this is a bit worrying as your on the breadline if you've got a lot of equity maybe its worth selling and living off that, Id look at everything you can do you need your car or could you walk, can you get a cheaper deal on your fuel, can you use parents friends to reduce childcare costs. Cheaper food, is there any work you can do at home etc. Can you get working tax credits, help towards childcare etc.

JF77

Mmm... difficult cos you sound really sensible with money and, I can understand not wanting to take on additional work and spending even less time with the wee one. What about the 13k debt are you getting the cheapest rates possible on that?

phlash

SELL.

(Adding a few characters because "sell" is too short to post according to the warning message!)

If you haven't got room for £50, then you are one of the first people at risk. Screams danger this thread does. It must also be causing you stress, so get rid of it, owning isnt everything.

PasturesNew

Have you had the people on the Debt Free Wannabe board go through your SOA? They can usually squeeze £50 (and more) out of most people's budget.

Scubabe

phlash wrote: »

If you haven't got room for £50, then you are one of the first people at risk. Screams danger this thread does. It must also be causing you stress, so get rid of it, owning isnt everything.

But hasn't the OP already stated rentals in her city are the same or more than her mortgage repayment?
So selling won't do a damn thing because she'll then need to go & find a rental property & pay the same or more in rent....

It isn't always as simple as "just sell up & move on".

Cuba, I suggest you go look in the Up Your Income forum there are loads of posts in there about how to increase your earnings perhaps something on there can trigger an idea for you and you can pick up the extra bucks in another way - and they won't all involve needing to pay for childcare!

Good luck

Ness

jamesd

Selling won't improve the situation if rents match the property value. More interesting might be part interest only and part repayment. That may be affordable until inflation and inflation-linked pay increases reduce the effective cost of the mortgage. Sometimes just holding on for inflation to work is all it takes.