Buried head for too long....

klane

Hugs to you. Well done for coming on here and posting up your SOA. Bound to be lots of useful suggestions coming your way. Keep posting, and congratulations on your future baby too.

Do you guys split bills etc with your BIL?

Your Sky, broadband and phone costs sound expensive. Have you looked for a cheaper option? I just switched to Virgin Media (https://www.virginmedia.co.uk) for their 3 for £30 package - includes cable TV, home phone, and broadband. They might have even cheaper options than that, we seem to have a ton of TV channels.

Look at sites like https://www.quidco.com for money back offers on things you buy online. And join your local Freecycle group too for freebies - shout if you don't know what that is and I'll explain.

What's the rent prices like closer to your husband's job? Would moving closer be more effective for you? Maybe not, but just an idea. That'd reduce commuting costs too.

Try to get lower APRs - if your/your husband's credit history is ok you could then balance transfer as much as possible to a lower rate, or a 0% one. That could save you hundreds a year.

Chin up, things will work out and folks here will try to help.

Scared4future

Thanks again....

NewMum1 - Thanks for the suggestions. We did look into hubby becoming a pizza delivery guy but unfortunatly the extra earnings would take him over the tax boundaries (I think) put with his current salary. I know that money is very important but he hardly sees the kids as it is and this would really be a final option. Stressful as the situation financially is.. hardly ever seeing hubby/daddy would make it so much worse!

GeorgeUK - OMG that is a horrendous APR!! Does anyone know if its possible to phone up these credit companies and get the APR reduced to a more sensible level?? Storecards are cheaper and I never thought i would say that!!
Water.. we are unable to have a water meter installed on this house, even though I did actually request one when we moved in as my water bills were cheaper with one fitted! Im a bit of a stickler for the whole Green thing and have a hippo happily sitting in my cystern anyway
As for the food - I do mostly homecooking and try to challenge myself to spend less than the £60 per week budget I have set myself for food, its only £12 per person... this also includes my youngest sons nappies!!

Daz1 - My BIL does not live with us, he rents a flat near where he works. And yes.. I have learnt some very valuable lessons incl understanding how much debt costs

Bestthingsinlifearefree

Scared4future wrote: »

Clarification as requested.....

We still live in the house and we pay a minimum amount of rent to my BIL. I know my BIL feels so bad and responsible for the position we are now in and I know that if he had anyway of paying us the money back or helping towards the costs he would, but since this has happened we have found out that he is in a worse financial situation than we are (and TBH if we had known before hand about his mess we would never have gone along with the idea in the first place!).

quote]

Hi,

So does your BIL "own" have the mortgage on the house?

Does he live there as well?

(sorry to be so dumb, just trying to fully understand the situation).

Best,

Scared4future

Bestthingsinlifearefree wrote: »

(sorry to be so dumb, just trying to fully understand the situation).

Best,

You certainly are not being dumb.. its me not explaining things very well

Yes BIL still owns the house and he is paying the mortgage
x

Bestthingsinlifearefree

Scared4future wrote: »

You certainly are not being dumb.. its me not explaining things very well

Yes BIL still owns the house and he is paying the mortgage
x

Ok so you have moved into your BIL house and spent a considerable amount of money doing it up (because you thought you would be buying 50% of it from him). Now this has not happened you rent the house from your BIL.

Ok have I understood that correctly?

Could your BIL not sell the house and return the money to you that you spent doing it up?

Best,

Scared4future

Bestthingsinlifearefree wrote: »

Could your BIL not sell the house and return the money to you that you spent doing it up?

Unfortunatly this is not feasable for either him or us. We do not have any funds to be able to finance a move into rented accomodation again with deposits, months in advance, admin fees etc this would total about £2k for a suitable size property. I certainly would not like to add this amount onto our already existing CC's. Just for a basic 3 bedroom where we live its about £900 PCM for rent.

I think what is frustrating me most is that I have always been so good with money and within my domain of the home, such as utilities/food etc I still am. Its all the bigger financial commitments which I had so little understanding of when I blindly accepted the terms 2 years ago!! :mad:

GeorgeUK

You could ask for the bank to reduce the APR, but not sure you would be very successful. I'd check the credit reports (don't bother paying to see your credit score - not worth the money) and hopefully you'll be able to get a 0% card to get rid of that huge APR.

mummytofour

house was sold this would get you your money back, any money use for deposit will still mean u owe loads less that you already do. You moght even get help HB when you rent the new house.
Failing all that try contacting cccs for advice.

Scared4future

OMG I have just had one of those WOW moments...

Used the Snowball calculator as suggested by Southernscouser in his Newbie thread... I could be debt free in 4 years!!!:T

I thought it would take decades!!

I can see that light at the end of the tunnel... ok its a very long tunnel but its there and tonight I may just get some sleep

xx

hypno06

The snowball calculator is fab - it is a great motivator, and as you say, it gives you that light at the end of the tunnel!