How did I get in this mess? Advice needed

floss2

The light is there, but it's one of those energy-saving ones that takes a little while to get brighter

cameront

Again thanks for all your comments yeserday and some I have taken on board straight away, my partner went to our local Tesco s and got a job in the evenings, started straight away : ) Here s my more comprehensive SOA, just but writing it down i can see things we can cut down on straight away. One thing i have tried is a 0% credit card but have been turned down by 3 different companies, even though my credit rating is excellent (so Experian says) Also got an appointment with Halifax to see if they can give us a break for a couple off months just to clear overdraft.
ps now I have free time in the evenings while partner at work and kids in bed, whats the best thing to do to make money from home?

income £1469 (my wage)
£440 (partners wage)
120 (child benefit)
outgoings
£297 (loan £18000 6 years left) £80 ( lottery)
£241 (loan £6500 3 years left) £15 (tv license)
£203 (loan £12000 6 years left) £40 (phone/broadband)
£160 ( credit card £9000 £300 (food)
£87 ( gas) £25 (kids bonds)
£50 (mobiles) £60 (sky)
£200 (cash/sundries) £120 (petrol)
£50 (car tax/insurance) £110 (clothes/hairdressers)

MERFE

Hi do you get any child tax credit at all? if not look into it as you should be entitled to some. Is council tax included in your rent from job as its not on the list? I'm no expert but you can cut back in lots of areas, 80 pounds on lottery when you can't afford it! Try keeping a spending diary to see where the 200 pounds a months cash goes. could you package the sky phone and broadband up would it work out cheaper?

I'm sure others on here will have much better advice than me but thats just how i see it. so long as I've added it up right and thats all the outgoings than the incomings are more than your outgoings so it should be managable.

floss2

Congrats on your partner's job

As to evenings...Ebay anything that isn't nailed down / AQA

floss2

cameront wrote: »

income
£1469 (my wage)
£440 (partners wage)
120 (child benefit)

outgoings
£297 (loan £18000 6 years left)
£80 ( lottery) How much!! that's £80 extra to pay off your cc
£241 (loan £6500 3 years left)
£15 (tv license)
£203 (loan £12000 6 years left)
£40 (phone/broadband)
£160 ( credit card £9000)
£300 (food) Take a look at the Old Style board to reduce this
£87 ( gas) no electric?
£25 (kids bonds) may have to put these on hold for a while
£50 (mobiles) drop tariffs & then when out of contract go PAYG
£60 (sky) go Freeview
£200 (cash/sundries) thats a lot to waste away - start a spending diary
£120 (petrol) can this be cut down?
£50 (car tax/insurance) shop around for your insurance & use a cashback site
£110 (clothes/hairdressers) do you & partner need new clothes? Try & cut this back

Ok, start a spending diary to see where that £200 goes....
Look for help cutting your food bill....
Stop the Lottery....
Cancel the Sky....
Drop a tariff on each mobile.....

There's a few things to do in the evenings

cameront

Yeh skys going to minimum, hopefully free broadband with them too, I know the lottery is bad you just dont see until you write it down, cut that down to £10 a month easy. Yes floss2 i've got loads to ebay just never done it before and am a bit nervous. Any idea s on why i'm not getting a 0% credit card as i said my credit rating is excellent

floss2

cameront wrote: »

Yeh skys going to minimum, hopefully free broadband with them too, I know the lottery is bad you just dont see until you write it down, cut that down to £10 a month easy. Yes floss2 i've got loads to ebay just never done it before and am a bit nervous. Any idea s on why i'm not getting a 0% credit card as i said my credit rating is excellent

Probably the amount of credit you've already got....and the fact that all CC co's are tightening up a bit.

If you cut your Sky / lottery / clothes / cash / bonds / food shopping monies, you can probably clear your overdraft quite quickly and then you can start to reduce the cc balances.

cameront

Thanks Flos2

I needed to here it from other people that i'm crap with money and live above my means. I'm glad I came on here and i'm going to get rid of the debts once and forever,might take a while though : ))

lazy&indebt

Well done for coming on and asking for help.

You've probably been turned down because of the credit crunch! Lenders are being VERY selective about who they lend to now as people get into the habit of missing payments, which the cc company will charge for, and then everyone goes and claims it back!

Merlot

cameront wrote: »

Again thanks for all your comments yeserday and some I have taken on board straight away, my partner went to our local Tesco s and got a job in the evenings, started straight away : ) Here s my more comprehensive SOA, just but writing it down i can see things we can cut down on straight away. One thing i have tried is a 0% credit card but have been turned down by 3 different companies, even though my credit rating is excellent (so Experian says) Also got an appointment with Halifax to see if they can give us a break for a couple off months just to clear overdraft.
ps now I have free time in the evenings while partner at work and kids in bed, whats the best thing to do to make money from home?

income £1469 (my wage)
£440 (partners wage)
120 (child benefit)
outgoings
£297 (loan £18000 6 years left) £80 ( lottery)
£241 (loan £6500 3 years left) £15 (tv license)
£203 (loan £12000 6 years left) £40 (phone/broadband)
£160 ( credit card £9000 £300 (food)
£87 ( gas) £25 (kids bonds)
£50 (mobiles) £60 (sky)
£200 (cash/sundries) £120 (petrol)
£50 (car tax/insurance) £110 (clothes/hairdressers)

£80 on the lottery, you are not going to win - that needs to go immediately.
£60 on sky - get rid - only rubbish on it anyway
£25 Kids bonds - you shouldn't be saving if you have debts unless you are servicing them at 0%
£87 on Gas - my goodness that high, check out USwitch.com
£50 on mobiles - lower the tariff or get rid of completely
£110 clothes/hairidressers a month - sorry but you cannot afford that, you need to reduce this immediately - you could save £70 per month here alone.

I can see at least £235 worth of saving here to start with.

Well done for posting, you have come to the right place, you may not like my suggestions but you cannot live a champagne lifestyle on a lemonade budget, that's what I got told by my mother when I told her I had debts many years ago, and she was right.

Merlot.x.