Outgoings more than income

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  • Unless you absolutely need a car as others have said at £160 per week to run it you should get rid for now, that would more than sort your budget shortfall out.
    Do you own the car outright? is it worth much? Maybe by selling it you could reduce your rent arrears?

    Good luck
  • Mnd
    Mnd Posts: 1,699
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    Yes, it does seem that you can't cut back much except the car, so you do need to up your income somehow as others have suggested
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  • kazwookie
    kazwookie Posts: 13,809
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    Can your wife get an evening job, when you are at home to look after the children?

    Can you wife work from home a few hours a day, when the children are sleeping?

    Look at all out goings and see what can be cut or put a very details break down up on this site, and the lovely folk can offer advise. ~ the car they have already done.

    Can you up your hours where you do work to 40?
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  • Tropically
    Tropically Posts: 427
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    edited 1 August 2018 at 1:14PM
    My calculation of your income: £1,387.50/month = £346.88/week
    Car: £345.50/month

    You spend the first week of each month paying for your Audi, not your young child, your pregnant partner or your incoming infant. Not your rent arrears, council tax arrears or other debt. Those all have to be squeezed out of the other three weeks per month. The car should really go.
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  • lindens
    lindens Posts: 2,870
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    Jbsufcx wrote: »
    It is a 2.0 litre audi a4
    Maybe the insurance group is way too high. Im going to run a few quotes on cheaper lower engine cars to ser what prices come back

    you cant afford this. get a ford focus for a couple of years
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  • sourcrates
    sourcrates Posts: 28,711
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    edited 1 August 2018 at 3:30PM
    Unfortunately, once bambino`s start to appear, young men have to endure a very Sharpe learning curve, out go the fast cars, in comes the cheap family hatch, i had to do it, most people have to do it, you will have to do it too.

    Can you give us more details on the historic debts you have, who you are paying, are you using a debt charity, direct payment to a creditor, or a debt management company ?


    Either way, you can get that £200 a month significantly reduced.
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  • lindens wrote: »
    you cant afford this. get a ford focus for a couple of years
    Or a matiz. Something as small and cheap as possible to run.
    If I were in that position, I would seriously consider bankruptcy and wipe the slate clean.
  • indesisiv
    indesisiv Posts: 6,359
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    Gas and electric at £40 a month each seems high to me too.
    But without a doubt as other have said the car needs to go (210 a year on tax) if you had a different car you could save that for a start!
    “Time is intended to be spent, not saved” - Alfred Wainwright
  • Tropically wrote: »
    My calculation of your income: £1,387.50/month = £346.88/week
    Car: £345.50/month


    You spend the first week of each month paying for your Audi, not your young child, your pregnant partner or your incoming infant. Not your rent arrears, council tax arrears or other debt. Those all have to be squeezed out of the other three weeks per month. The car should really go.

    That seems quite a lot for 20 hours a week, especially for a new starter, but not knowing how qualified you are of course
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