Overdrawn - permanently!

emily87_2

Right, I've got a Natwest current account, with a £600 overdraft limit. I can't remember the last time I wasn't overdrawn and every month I go past my overdraft limit and get charges put on my account.
I went to see the bank manager yesterday and he said there is nothing they can do. I've already had £150 charges taken out this month, which has made me go past my limit again so it'll be the same next month. I'm trying to claim my bank charges back but it has been put on hold because of the test case. What can I do to end this cycle? Please help!

emily87_2

I don't overspend as it is. I've got a family of four and only spend thirty pounds a week on food, £20 on petrol and £16 on playschool fees, the rest is bills like council tax and electric etc.

Aliktren

this is not a solution but... move to another bank with a bigger overdraft limit ? - then take a look at the "etc" and see what can be shrunk using the excellent advice on this site

MissEyre

albertross wrote: »

Well you are using an overdraft, so have spent more than you have somewhere along the line..

Go here, post a full statement of affairs (see the other posts for format), and wait for ideas.

http://forums.moneysavingexpert.com/forumdisplay.html?f=76

Hi Emily, welcome!

As the poster above suggests, come on over to the Debt Free Wanabee board, and tell us a bit more about yourself, and you will get lots of practical advice and support to get you sorted out. Hope to see you there soon x

daveboy

Maybe doing what some others do....think of the financial aspect of having a family before you actually have one. Too late I know but it is amazing how many people don't think it through and get in a big mess.

Your situation is the exact reason I haven't had children yet, at the age of 27.

Debt_Free_Chick

emily87 wrote: »

I don't overspend as it is. I've got a family of four and only spend thirty pounds a week on food, £20 on petrol and £16 on playschool fees, the rest is bills like council tax and electric etc.

As Albatross says, you must be spending more - sorry.

If you had no money in and no money out, your OD would be the same amount.

If you take last month's OD, add on what's been paid in, take off what's been paid out .... and the OD is bigger, then you've spent more than you've received.

Do you have a budget? If you post it here we can show you that you are spending more than you receive and we can suggest where you can look for savings.