Absolutely Broke

whimsy7 · 21 May 2018 at 12:34PM

Hi
I'm 22 and live with my partner. We have lived together for nearly 3 years now and while times have always been hard this is the first time we have found ourselves completely broke.
We are both over our overdraft limit and neither get paid until the end of the week. We have absolutely no money and no one we can borrow from.
I have enough food for the pets but barely anything for us at all.

I honestly don't know what to do. I'm on reduced hours at work due to health issues and the only way out of this seems to be to go back to full time hours although I know this is going to make me very sick.
When I get paid at the end of the week it will cover my overdraft and my bills and then I will have no money again until the next payday in 4 weeks.

I don't really know what I expect to happen writing here I just needed to get it out I am in despair and at a loss

Oakdene · 21 May 2018 at 12:43PM

Welcome to the forum!

Well done on firstly posting & saying you're struggling, that's often a very hard first step.

Other, more knowledgeable, members will be here soon but the first thing to do would be to post a SOA for everyone to see so we can help you identify where your money is going. This is the link http://www.stoozing.com/calculator/soa.php

Have you got items in the freezer you can survive off until the end of the week?

sourcrates · 21 May 2018 at 12:44PM

Hi,

As a stop gap measure you should only pay essential bills, certainly not credit bills, never, ever leave yourself short of money to live on.

Any unsecured credit debt is non priority, if you cant pay it, it gets left until you can.
Best to post a statement of affairs, we can then see where you money is going, and make suggestions on how to improve the situation.

http://www.stoozing.com/calculator/soa.php

[Deleted User] · 21 May 2018 at 12:46PM

Hey,

Can you go to a local food bank to see if they can give you some food to get by?

Also would it be worthwhile speaking to your bank to see if they can do anything about the overdraft?

I don't have much experience with this so hopefully someone else will be along with more advice.

Dxxx

John_Jones · 21 May 2018 at 1:12PM

You need to work out where your money is going to see where you can make savings. Can your partner take on a second job, doing something in the evenings or weekends? Is there anything that you can sell today to get some cash?

whimsy7 · 21 May 2018 at 1:24PM

Thankyou for all the suggestions. I am at work currently so can't fill that form out yet.
I don't have any credit debt I don't think? Just my overdraft and my partners overdraft and he owes £200 to the gas and electric company from winter.

We have some food in the freezer we are trying to work out if it will last but not sure yet.
I have looked into food bank but they said I need a voucher of entitlement and I don't have one?

My partner already works 37-40 hours a week on shift work so he can't do any more bless him. I currently work 25 but normally would be working 40-50 depending on the week including weekends.

I just don't know how we will ever get out of this situation were already so careful with what food we buy etc and don't buy gifts or go on dates or anything like that

Oakdene · 21 May 2018 at 1:26PM

Ok, if you really don't have debt then you need to look at where your money is going every month. Once you fill in the SOA you will be able to look at where you're spending money.

enthusiasticsaver · 21 May 2018 at 1:59PM

Overdrafts are often one of the biggest forms of debt so even though you don't have credit cards you presumably are paying charges for your overdrafts?

Keep a spending diary to see where all your money is going. Are you entitled to any benefits because of your health? I would also suggest you post an soa. Priority debts are mortgage or rent, council tax, food and essential utilities. Budget for food, personal spends, transport and entertainment. If you overdrawn aim to reduce it by a small amount every month and don't spend up to the limit. An emergency savings account is also a good thing to start.

Mrs_Soup · 21 May 2018 at 3:53PM

If you make a list of absolutely all the food you have in your store cupboards, freezer etc and post it on the Old Style Board, they love a challenge and will advise on how best to stretch it to cover all the meals you need until you get paid..

whimsy7 · 23 May 2018 at 6:56PM

So I've made it through this week but now I have been paid less than expected even though I worked the same hours last month and got almost double?! Something must have gone wrong I'm looking into it but if now I only have been paid enough to get me out of my overdraft and that's it. No money at all for bills, food etc etc

Ilona · 23 May 2018 at 7:45PM

Mrs_Soup wrote: »

If you make a list of absolutely all the food you have in your store cupboards, freezer etc and post it on the Old Style Board, they love a challenge and will advise on how best to stretch it to cover all the meals you need until you get paid..

Have you made that list, as Mrs Soup says? What is in your freezer, any cans and packets in the cupboard, pasta, beans, anything that you can make a meal with? Post it on the Old Style Board.

Ilona

Absolutely Broke

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