In Debt & Pregnant!!!!

JONESKEZ

Hi,

I am new to this forum and have been browsing around at other peoples debt highs & lows. It's nice to find somewhere you can get a bit of support or to see that your not the only only drowning in it!

I am in quite a bad situation at the moment, I am 16 weeks pregnant (4 months) with my second child and currently work full-time, I will be going on maternity leave end of July and will have to cope with a new baby as well as statuatory maternity pay which is currently about £110 per week! I currently earn around £1200 per month and my husband is on a little more than me.

We got married last year and I somehow managed to increase my OD at the bank to £4000!!!! as it was there I slowly dug into it to fund the wedding, as well as my daughter who was due to start school.

I am now in a very bad situation where I cannot afford to pay the overdraft back and I'm really scared as I will soon be living off next to nothing trying to pay my bills and feed my children!

I have started to change some of my bills by changing gas/electric/telephone/internet suppliers, cancelling my mobile phone and going on the minimum for my sky tv. I have also starting saving some money each month help me out when baby arrives....problem is my overdraft will not be paid and money in my account will not cover it!

Does anyone out there know what I can do? My overdraft is to be reviewed in August and I'm affriad the bank are going to ask for their money back.
I am unable to trafer it to cradit cards as I have had problems with debt in the past which I am still paying for, I feel like an idiot for taking this money and its now really starting to worry me.

Any advise would be great!


Thank you!

Merlot

Hi and welcome to DFW.

If you could post an SOA (incomings and outgoings) we will see what we do to reduce your outgoings. Do you own your own home, could you change from repayment to interest on the mortgage to enable you to repay your overdraft?

We have lots of ideas but need more info, do you also have other debts, if so please list them. Try and not worry, you are expecting and should be taking things a wee bit easier, goodness the newborn will give you plenty of sleepness nights and we hope we can ease that burden for you if you post your SOA.

Merlot.x.

Tinka21

I can't offer any help as such but i am in a similar situation to you - Pregnant and up to my eyes in debt!!

So all i can offer is hugs and moral support.

Snaggles

Hiya!

There's quite a few of us on here who have coped with debt through a pregnancy and beyond, so do post your SOA and we can have a look to see if we can offer any suggestions at all.

Do you have many baby things from your first child? I had a 7 year age gap and didn't think I had anything, but I was amazed at what I found in the loft!

What I found quite useful was to go through my outgoings with a fine toothcomb and work out what the bare minimum I HAD to pay out each month was. Then I worked out how much I would have coming in each month (don't forget your child benefit will increase and tax credits may increase if you are entitled to them). Work out what the overall shortfall is going to be for the time you are off on maternity leave, and then start working out ways to find that money.

People always say 'somehow you will just cope', and I didn't really believe them, but I've survived a year of maternity leave without increasing my debt, and am just about to go back to work in a few weeks....gulp....:o

chevalier

Not sure why it is that you have to pay to feed the children, and to pay 'my' bills. Does your OH not contribute too?

JONESKEZ

OK, I will go through these tonight and let you know. Thank you!

Also for the last question - my husband does contribute but we have both got seperate accounts which makes things messy, therefore we have joint account for bills which he pays about 2 thirds of and I pay the rest. He also has his credit cards to pay. We are very even and I didn't mean to put it all down as my problem! Just that this overdraft is my problem as it was me who arranged.

I think the main reason why we struggle is because of childcare payments which have been in excess of £500 per month! Great now is at school as we now only pay £150 per week., we also rent our home and can only dream of owning our own which I will never do until I pay these debts off!

Thanks for everyones comments. x

JONESKEZ

Hi,

Here is my SOA as promised. Please note that I do not own my own home.

Incomings:

Salary: £1080 per month
Husband Salary: £1200 per month
Child Benefit: £72.60 pm
Tax Credit: £32pm

Total: £2384.60pm

OUTGOINGS: -

Mortgage/Rent: £575.00Overdraft Cost (Interest)£70.00Council Tax: £125.00Water Rates/Meter: £23.00Gas £25.00Electricity £27.00Home Phone £30.00Internet £17.00TV Licence £11.95Mobile Phone (2 phones on contract)£80.00Food and Household Shopping £550.00Eating Out £10.00Coffees/Sandwiches/Snacks £8.00Drinks for Home £25.00Drinking Out£20.00Meals at work£22.00Car Maintenance (2 Cars)£50.00Car Insurance (2 Cars)£67.00Car Tax (2 Cars)£33.00Petrol/Diesel (2 Cars)£260.00Car Loan Repayments £150.00Personal Loan Repayments £60.00Credit Card Repayments (MINIMUM)£185.00Childcare/Play Schemes £100.00DVD/Video Rental £3.95Family Days Out £30.00Satellite/Digital TV Subscription £28.00Beauty Treatments£25.00Dentistry£6.66Haircuts£37.50New Clothes£20.00New Children's Clothes£20.00Work Clothes £15.00
Oh and I save £125.00 per month

Total outgoings: £2,840.06
Therefor leaving me in a negative. Seeing this has scared me more now - its amazing how you can spend money without realising it!!

Please also note that I have recently changed suppliers of gas/electric in the hope it will be cheaper and I will also be able to cancel our mobile phones in april and go onto pay as you talk to save money.

Wow - this is not going to be easy!!! Any idea's will be grately received!

Thank you all. x

pania

JONESKEZ wrote: »

Hi,

Here is my SOA as promised. Please note that I do not own my own home.

Incomings:

Salary: £1080 per month
Husband Salary: £1200 per month
Child Benefit: £72.60 pm
Tax Credit: £32pm

Total: £2384.60pm

OUTGOINGS: -

Mortgage/Rent: £575.00
Overdraft Cost (Interest)£70.00
Council Tax: £125.00
Water Rates/Meter: £23.00
Gas £25.00
Electricity £27.00
Home Phone £30.00 can you combine this and your internet into one package and therefore get it cheaper?
Internet £17.00
TV Licence £11.95
Mobile Phone (2 phones on contract)£80.00
Food and Household Shopping £550.00 Ouch Ouch and double ouch!!! this can radically be reduced and should not be anywhere near this high for 3 people, Look at the old style board for money saving ideas and you can cut this down dramatically.
Eating Out £10.00
Coffees/Sandwiches/Snacks £8.00
Drinks for Home £25.00Drinking Out£20.00
Meals at work£22.00 the total amount that you spend on food and drink per month (not including drinking out) £615!! :eek: :eek: this area is really where you can make a massive saving and get that overdraft cut back. give OH and little one packed lunches, cut out the coffees and snacks out, I think you could reduce your entire food budget to £300 maybe less with some concentration. saving of £315!:D
Car Maintenance (2 Cars)£50.00
Car Insurance (2 Cars)£67.00
Car Tax (2 Cars)£33.00
Petrol/Diesel (2 Cars)£260.00
Car Loan Repayments £150.00
Personal Loan Repayments £60.00
Credit Card Repayments (MINIMUM)£185.00
Childcare/Play Schemes £100.00
DVD/Video Rental £3.95 get rid there is lots on sky, if you know anyone with children swap DVD's you may own between you so your little one gets variety this way, same with adult movies (I don't mean THAT kind of adult movies, just not winnie the pooh or pepper pig!!!:rotfl: )
Family Days Out £30.00 Looooads of places you can go for cheaper than this or free, look at websites and google things such as free kids deals, esp popular around the holidays
Satellite/Digital TV Subscription £28.00
Beauty Treatments£25.00 sorry hon, you know what i'm going to say, if you want that OD gone you'll need to go without this for a while
Dentistry£6.66
Haircuts£37.50 Try your local colleges and salons for cheap model nights, free or half the price of this.
New Clothes£20.00 Ditto the clothes, go through your wardrobe and workout exactly how many outfits you have to wear currently. do you REALLY need to buy more clothes right now?
New Children's Clothes£20.00
Work Clothes £15.00 As above.
Oh and I save £125.00 per month reduce this for now, even halve it.



Total outgoings: £2,840.06
Therefor leaving me in a negative. Seeing this has scared me more now - its amazing how you can spend money without realising it!!

Please also note that I have recently changed suppliers of gas/electric in the hope it will be cheaper and I will also be able to cancel our mobile phones in april and go onto pay as you talk to save money.

Wow - this is not going to be easy!!! Any idea's will be grately received!

Thank you all. x

thats a little easieron the eye;) back with some comments in a sec... xx

OK, Anticipated saving to be made of £451. as follows.
Reduce TOTAL food bill to £300, freeing up £315.
Cancel DVD's 3.95
Reduce family out budget by 1/2 15.00
Bin those beauty treatments 25.00
Reduce hair bill to £25 12.50
Cut the adult clothes budget in half 17.50
Cut your savings in half 62.50

Saving of £451 as above.

You strike me as being the sort of lady that enjoys looking after herself, good for you, just do it cheaper than you are currently. look outside the box more, have a girly pamper night at your friends where you do your nails and someone gives a massage and someone a pedicure etc, take a bottle of wine and you'll have a great time. There are things which in the situation you are in right now just have to go by the wayside, and it isn't pleasent for anyone, but i am sure you can pull this back before little one arrives with some determination.
Good luck, we are always here for support. xx

calleyw

JONESKEZ wrote: »

Hi,

Here is my SOA as promised. Please note that I do not own my own home.

Incomings:

Salary: £1080 per month
Husband Salary: £1200 per month
Child Benefit: £72.60 pm
Tax Credit: £32pm

Total: £2384.60pm

OUTGOINGS: -

Mortgage/Rent: £575.00
Overdraft Cost (Interest)£70.00
Council Tax: £125.00 -is that over 10 months or 12 months
Water Rates/Meter: £23.00
Gas £25.00
Electricity £27.00
Home Phone £30.00 -high I pay £40 a month for BB, Phone and two mobiles a month with Virgin normally £2.50 a month in calls
Internet £17.00 - See above
TV Licence £11.95
Mobile Phone (2 phones on contract)£80.00 -Got to go or be reduced
Food and Household Shopping £550.00 -Way to much for 3 pople. That can be reduced by at least a £150 if not more a month. I spend £100 a month for two adults
Eating Out £10.00
Coffees/Sandwiches/Snacks £8.00
Drinks for Home £25.00 -Is that on top of spending £550 a month on food. Got to go.
Drinking Out£20.00
Meals at work£22.00
Car Maintenance (2 Cars)£50.00
Car Insurance (2 Cars)£67.00
Car Tax (2 Cars)£33.00
Petrol/Diesel (2 Cars)£260.00
Car Loan Repayments £150.00
Personal Loan Repayments £60.00
Credit Card Repayments (MINIMUM)£185.00
Childcare/Play Schemes £100.00
DVD/Video Rental £3.95
Family Days Out £30.00
Satellite/Digital TV Subscription £28.00 -You know the answer to this one without me saying it
Beauty Treatments£25.00 -What is this for?
Dentistry£6.66
Haircuts£37.50 -Is that for all you. Why not get a trainee cut, my local salons do them from £5
New Clothes£20.00 -Do you really spend that or is a average
New Children's Clothes£20.00-Do you really spend that or is a average
Work Clothes £15.00 -Do you really spend that or is a average
Oh and I save £125.00 per month -If you are not able to make payments on all bills you should not be saving

Total outgoings: £2,840.06
Therefor leaving me in a negative. Seeing this has scared me more now - its amazing how you can spend money without realising it!!

Please also note that I have recently changed suppliers of gas/electric in the hope it will be cheaper and I will also be able to cancel our mobile phones in april and go onto pay as you talk to save money.

Wow - this is not going to be easy!!! Any idea's will be grately received!

Thank you all. x

My thoughts are in pink. You are free to pick or choose what advice you take. Also need to keep a spending diary.

All the best.


Yours


Calley

Merlot

Quote:
Originally Posted by JONESKEZ
Hi,

Here is my SOA as promised. Please note that I do not own my own home.

Incomings:

Salary: £1080 per month
Husband Salary: £1200 per month
Child Benefit: £72.60 pm
Tax Credit: £32pm

Total: £2384.60pm

OUTGOINGS: -

Mortgage/Rent: £575.00
Overdraft Cost (Interest)£70.00 - wow, this is high, why so much?
Council Tax: £125.00
Water Rates/Meter: £23.00
Gas £25.00
Electricity £27.00
Home Phone £30.00 - again high, you could reduce this?
Internet £17.00
TV Licence £11.95
Mobile Phone (2 phones on contract)£80.00 - Get rid of - a luxury you cannot afford
Food and Household Shopping £550.00 - that is twice the amount I spend on two children and a husband - far far too much
Eating Out £10.00 - got to go
Coffees/Sandwiches/Snacks £8.00 - got to go
Drinks for Home £25.00 - Got to go
Drinking Out£20.00 - got to go
Meals at work£22.00 - got to go - take a packed lunch
Car Maintenance (2 Cars)£50.00
Car Insurance (2 Cars)£67.00
Car Tax (2 Cars)£33.00
Petrol/Diesel (2 Cars)£260.00
Car Loan Repayments £150.00
Personal Loan Repayments £60.00
Credit Card Repayments (MINIMUM)£185.00
Childcare/Play Schemes £100.00
DVD/Video Rental £3.95
Family Days Out £30.00 - take a walk on a beach - its free
Satellite/Digital TV Subscription £28.00 - got to go
Beauty Treatments£25.00 - got to go
Dentistry£6.66
Haircuts£37.50 - too high
New Clothes£20.00 - too much
New Children's Clothes£20.00 - too high
Work Clothes £15.00 - too much
Oh and I save £125.00 per month - you shouldn't be saving money if you are in debt, only save only if you are servicing your debts at 0%

Total outgoings: £2,840.06
Therefor leaving me in a negative. Seeing this has scared me more now - its amazing how you can spend money without realising it!!

Please also note that I have recently changed suppliers of gas/electric in the hope it will be cheaper and I will also be able to cancel our mobile phones in april and go onto pay as you talk to save money.





I have added comments in above - I can see light at the end of the tunnel on this one, you are living way beyond your means, you cannot afford beauty treatments, eating out etc, and your food bill is far too high.

I don't want to sound harsh, you cannot live a champagne lifestyle on a lemonade budget. you have a very good income at this moment but you also have debts which should be your priority, not the luxuries like the beauty treatment.

You are currently overspending by approx £455 per month.

Well done for posting and realising the time is now to sort these debts out before they spiral out of control.


Merlot.x.

Merlot

Pania, a lovely post, thats the way I should have done mine, I didn't mean to sound harsh OP, sometimes one has to hear things we would prefer not too.

Merlot.x.