My wife lost her job and her monthly bills are killing me
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onomatopoeia99 wrote: »Why are you still putting money into savings when you have expensive debt to service (credit cards, overdraft)?
Tbh I haven't changed my budgetting a lot since she lost her job and i'm just starting to look at it all now. I'm still saving because i find it cheaper to have cash readily available though i've reduced the amounts i save monthly.
My thinking was that If i put everything i had left into repaying debts then any emergency expense that couldn't go on a card is harder to pay off.0 -
Martin was talking about the change in interest rates on overdrafts yesterday - will come into effect April 2020.
More info here (scroll down to #4):
https://www.moneysavingexpert.com/banking/cut-overdraft-costs/
If your income is lower than your outgoings, you need to look at increasing your income or lowering your spending.
If your wife had a high paying job, it's likely you lived a life used to not worrying about what you were spending.
Clearly, this needs to stop so doing a SOA and posting on the Debt Free Wannabe board will highlight where you can save money. I'd guess a big area may be food and entertainment.
Is your wife claiming any benefits?
She should have sufficient NI contributions.
https://www.gov.uk/jobseekers-allowance
Look at 'new style job seekers'.
No, she's not claiming any benefits. I'm not sure she is eligible due to my income.0 -
Thanks for the suggestions everyone. I have now posted on the Debt free wanabe forums with the SOA. https://forums.moneysavingexpert.com/showthread.php?t=60937990
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durzoblint wrote: »No, she's not claiming any benefits. I'm not sure she is eligible due to my income.
It says:‘New style’ JSA
To be eligible for ‘new style’ JSA you’ll need to have worked as an employee and paid Class 1 National Insurance contributions, usually in the last 2 to 3 years. National Insurance credits can also count.
You will not be eligible if you were self-employed and only paid Class 2 National Insurance contributions, unless you were working as a share fisherman or a volunteer development worker.
You’ll also need to:- be 18 or over
- be under the State Pension age
- not be in full-time education
- be available to work
- not be working at the moment, or be working less than 16 hours per week on average
- not have an illness or disability which stops you from working
- live in England, Scotland or Wales
- have the right to work in the UK
Your partner’s income and savings will not affect your claim.
Being 'not sure' isn't good enough. You need to check.
If she hasn't got sufficient NI contributions, that's that.
But don't assume your income will make her ineligible.0 -
You need to follow the link I gave.
It says:
You've obviously had a very casual attitude to finance and budgets in the past but you've acknowledged that that must change.
Being 'not sure' isn't good enough. You need to check.
If she hasn't got sufficient NI contributions, that's that.
But don't assume your income will make her ineligible.
Thank you, i've just read the link and seen that. I will have her apply.0 -
durzoblint wrote: ».
My wife had an operation a month after losing her job and had to take a few weeks off to recover. since then she has been applying for jobs and attending interviews, nothing has clicked just yet.
Does your wife know the extent of the situation?
If she is waiting for the perfect job to come up, than you are big trouble
She needs to be prepared to lower her expectations. She may not get back into the field she was in before, for a long time
Tell her to apply for everything. EVERYTHING.
You are in dire straits - and tbh, unless she is in ill health now there is no reason she shouldn't be getting off her 'arris
Sign up for agencies, apply at supermarkets, cleaning, anything and everything
There ARE jobs out there for people who want them - those who are prepared to lower their expectationsWith love, POSR0 -
pickledonionspaceraider wrote: »Does your wife know the extent of the situation?
If she is waiting for the perfect job to come up, than you are big trouble
She needs to be prepared to lower her expectations. She may not get back into the field she was in before, for a long time
Tell her to apply for everything. EVERYTHING.
You are in dire straits - and tbh, unless she is in ill health now there is no reason she shouldn't be getting off her 'arris
Sign up for agencies, apply at supermarkets, cleaning, anything and everything
There ARE jobs out there for people who want them - those who are prepared to lower their expectations
Thank you! i have explained this to her and she is looking more seriously for jobs now. she was initially trying to get a job in the same field and at the same grade as before but obviously that wasn't working.0 -
TALK TO HER! Set a budget together ...Signature removed for peace of mind0
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durzoblint wrote: »Thank you! i have explained this to her and she is looking more seriously for jobs now. she was initially trying to get a job in the same field and at the same grade as before but obviously that wasn't working.
Ahh that is good. She will get something for sure, I live in a City and there are always loads of agencies screaming out for staff - and even if she just treats it as a stop gap job and keeps looking for her dream job, but she just needs to be earning at the moWith love, POSR0 -
durzoblint wrote: »I have funds in a stocks and shares ISA, P2P Loan and NS&I bonds which can cover my card debts, and i still pay some money into them monthly.poppy100
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