Single Mum recently made redundant and about 15k in debt

ne021

This is my first time on here and i need help, I am a 23yr old single mother of a 2 yr old. I was recently living a nice life with free childcare a full time job paying me around 22k all in all. I have been made redundant and now realised I am about 15k in debt. i have been on the budget calculator and am overspending by around 250 p/m. Help!!!!!!!!
This is my income/ expenditure any advice

Benefits 422 p/m
family allowance 77.20 p/m
maintenance 150 p/m

bank loan 80 p/m
personal loan 127 p/m
great universal 156 p/m (however am only paying 56 at the moment)
credit cards 45 p/m
water 40 p/m
tv license 12 p/m
electric 27 p/m
gas 38 p/m
car insurance 23 p/m
loan 48 p/m
home ins 8 p/m
food shopping 120 p/m
clothes/cleaning 40 p/m
smoking 60 p/m
playschool 24 p/m
phone bill 60 p/m
internet 10 p/m
mobile 15 p/m


Not good i feel so trapped I don't know what to do, some of the debts have defaulted others haven't and i'm trying to make arrangements with them either way.

tealady

Hi ne021. There are loads of great threads on here to help with cutting back but if you could put up a full SOA it will help (see the sticky for newbies at the top). The Old style board is great for food and cleaning, and the gang on the stop smoking thread (I'm an ex smoker) give each other loads of support and tips. The "make £10 a day" thread has loads of ideas as well.

Also make sure you are getting all the benefits you are entitled to.
Good luck.

cat4772

ne021 wrote: »

This is my first time on here and i need help, I am a 23yr old single mother of a 2 yr old. I was recently living a nice life with free childcare a full time job paying me around 22k all in all. I have been made redundant and now realised I am about 15k in debt. i have been on the budget calculator and am overspending by around 250 p/m. Help!!!!!!!!
This is my income/ expenditure any advice

Benefits 422 p/m
family allowance 77.20 p/m
maintenance 150 p/m

bank loan 80 p/m
personal loan 127 p/m
great universal 156 p/m (however am only paying 56 at the moment)
credit cards 45 p/m
water 40 p/m
tv license 12 p/m
electric 27 p/m
gas 38 p/m
car insurance 23 p/m
loan 48 p/m
home ins 8 p/m
food shopping 120 p/m Check out MS Old Style to cut back
clothes/cleaning 40 p/m can cut this back
smoking 60 p/m - can you afford to smoke
playschool 24 p/m -
phone bill 60 p/m - this is a lot - look at switching users to save money (and one that gives free internet provision)
internet 10 p/m - see above
mobile 15 p/m - can you move to pay as you go or get out of the contract.


Not good i feel so trapped I don't know what to do, some of the debts have defaulted others haven't and i'm trying to make arrangements with them either way.

There's nothing about car tax, maintenance or petrol costs here.
Nothing about rent / mortgage expenses either.

jorichste

hi, hope you're feeling ok. You will get loads of help and support here, and as has been said the os board is FAB for ideas to cut back on day to day expenses. If you're not working then you have loads of free time to get your head around everything. And use the time you have to make some special memories with your child, something good comes out of every situation

GeorgeUK

Have a look at http://www.entitledto.co.uk/ and make sure you are currently claiming everything you should be.

Try posting up a SOA with the calculator to make sure there is nothing missed out - eg council tax
http://www.makesenseofcards.com/soacalc.html

ne021

I missed off a few things as I done it off the top of my head in my hour of need! Is their a template you can use then?

ne021

Thank you for your replies tho, sometimes it makes you feel better when you can get everything off your chest to someone who will listen and give you positive advice! I'm feeling in a good mood today and want to keep a diary?!?! I think this will help me if I can see the debts going down, even if it is only a little! Any ideas how I do it!?!

Wortle

Provided you are not at the start of your contract you can make huge savings on your mobiles and phone costs. If you are in a cable area you can sometimes just get standalone internet and run IM with a webcam and sound or skype then a mobile only with no landline.

Try freecycle.org for anything that breaks down appliance wise

There is a load of help on here. Its just a matter of ploughing through it.

Obviously getting rid of your debt must continue to be a prioriy when you get your next job. Dont slip back into old ways.

You can work things out so try not to lose heart. Lots of support on here too for those bad moments. Only 60 per month on fags suggests you are not as hooked as you might think! Sure you can cope with that one.

Chin up
Wortle

Nichelette

I'm assuming you are going to look for another job, so have you seen if you qualify for jobseekers allowence? I think you'd get a higher rate than a singleton as you also have a child.

Nichelette

Sorry, forget to add there is a template here you can use:

http://www.makesenseofcards.co.uk/soacalc.html