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  • FIRST POST
    • jammydodgersandrhl
    • By jammydodgersandrhl 7th Aug 18, 1:24 PM
    • 39Posts
    • 183Thanks
    jammydodgersandrhl
    Struggles of a single parent with debt
    • #1
    • 7th Aug 18, 1:24 PM
    Struggles of a single parent with debt 7th Aug 18 at 1:24 PM
    Hi,

    I have been on and off this forum over several years.

    Here I am back again (having cleared my debt last year). Everything was rosey....I moved in with my partner (cost me a fair amount of money to move from my lovely flat to a house) and then within 3 months he left. Unfortunately for me it was 1 week before christmas. I was in pieces. I still am, although doing my best to move on and find someone new. However, due to heartbreak I have treated myself and my son to different things to keep me occupied and alive (i was extremely low).

    Since December I am racked up 3000 on a credit card and i now have to pay back my student account overdraft 2000 and i have an overdraft on my main bill account of 300. So new debt is 3300 (credit cards and account overdraft).

    I need to start paying this off. Im a single parent to a DS, who is 9 years old.

    I am looking for advice on how to be more frugal. I have always had this ingrained in my blood, but i guess debt free me last year got sloppy and slipped back into old habits.

    Any advice and support emotionally or financially would be much appreciated.

    I am earning a good wage but that means nothing when i am paying all of the bills. so barely have much left over.

    Total spend 1752.44
    Total income 2065.8
    Surplus 313

    bills
    Gas and Electricity 50
    Rent 850
    DirectSaveTelecoms 27
    Water 15
    car insurance 18
    Sky 52
    TV License 12.12
    council tax 109
    Food 160
    Contact Lenses 27.50
    swim lessons 22.10
    ee 10.72
    Childcare 209
    student finance 50
    Spend 80
    Petrol 120
    September Grocery Challenge 51.92/140.00 (88.08)
    A break up led to overspend and debt!
    Credit Card 3000
    Student Overdraft 2000
    Main Bank Overdraft 350
Page 1
    • Starmummy
    • By Starmummy 7th Aug 18, 1:47 PM
    • 277 Posts
    • 1,326 Thanks
    Starmummy
    • #2
    • 7th Aug 18, 1:47 PM
    • #2
    • 7th Aug 18, 1:47 PM
    Hi Jammy

    welcome to the forum.

    Your budget already looks pretty frugal...one thing I did notice was the childcare, do your employers offer childcare vouchers at all? this could save you the value of income tax and NI on that amount. they can only be used for ofsted registered childcare though.

    Sky looks like your only real "luxury" so I wouldn't want to take it away if you really get the benefit of it but maybe look at Now TV, Netflix or reducing your package.

    Best of luck
    SM
    debt consolidated 16/8/18 11,917.34/12,618.12 (Total debt at LBM c..19.5k)
    EF savings 700.06 House Deposit (LISA) 492.51/12,000 4%
    • jammydodgersandrhl
    • By jammydodgersandrhl 7th Aug 18, 1:56 PM
    • 39 Posts
    • 183 Thanks
    jammydodgersandrhl
    • #3
    • 7th Aug 18, 1:56 PM
    • #3
    • 7th Aug 18, 1:56 PM
    I've just had a look at the childcare vouchers as i saw that time is running out to register/claim. I'm not sure that i will be better off as this will mean i get no tax credits, which in term effects my benefits. its hard to work out the maths on it to know whether to do this or not.

    Unfortunately with the sky I had just signed up to a sky sports contract before my partner left> i do watch the golf channel but its not any cheaper to just have the one sports channel strangely, despite sky advertising this option. I have the films but that is only 10 a month the same as it is on nowtv (i used to have now tv but its the same price to have through sky as a sky customer) we do use it a lot but like you say its our only real luxury.
    September Grocery Challenge 51.92/140.00 (88.08)
    A break up led to overspend and debt!
    Credit Card 3000
    Student Overdraft 2000
    Main Bank Overdraft 350
    • Starmummy
    • By Starmummy 7th Aug 18, 2:33 PM
    • 277 Posts
    • 1,326 Thanks
    Starmummy
    • #4
    • 7th Aug 18, 2:33 PM
    • #4
    • 7th Aug 18, 2:33 PM
    ah ok. You will most likely be better off on tax credits if that is the case.
    debt consolidated 16/8/18 11,917.34/12,618.12 (Total debt at LBM c..19.5k)
    EF savings 700.06 House Deposit (LISA) 492.51/12,000 4%
    • jammydodgersandrhl
    • By jammydodgersandrhl 22nd Aug 18, 2:20 PM
    • 39 Posts
    • 183 Thanks
    jammydodgersandrhl
    • #5
    • 22nd Aug 18, 2:20 PM
    • #5
    • 22nd Aug 18, 2:20 PM
    So i've decided to take action - have joined the grocery challenge for september and the frugal living challenge for the year. This should give me lots of tips and advice. I've not made any progress as yet money wise, but the new month starts on friday so that is when money changes can be implemented as i'm current skint until then.

    Have decided to start batch cooking so that i have stuff ready for september when school time will be busy (im a teacher) and so that i can stick to the plan with healthy meals that are quick.

    I will also start making gifts fro friends and family - lots of birthdays and with christmas coming up it seemed like the time to make sure things don't get any worse for me right now. Fabric hoop art, wood cloud art are my starting points! any other advice or links to homemade gifts would be fab.
    September Grocery Challenge 51.92/140.00 (88.08)
    A break up led to overspend and debt!
    Credit Card 3000
    Student Overdraft 2000
    Main Bank Overdraft 350
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