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Money too tight to mention? Support group for those cutting back to pay off debt

(18 Posts)
wonderstuff Fri 10-Oct-08 12:55:31

Thought that I'm probably not alone, and its not something you can talk to people about much irl is it? We have a few credit cards, each with a few grand outstanding, accumilated with dh was off work with back problems a few years ago and he only got statutary sick pay, well added to then, don't think I ever paid off a couple of holidays taken when I was at uni tbh blush Well dh was made redundent a few months ago, and has since got a job but is on less money. In theory we have enough coming in to pay all the bills, but this month we are into overdraft a week before payday, nursery fees not come out yet so havig to get out begging bowl for those and put food on credit, so of course next month is going to be really tight, I could cry but it wont help matters sad

Lilyloo Fri 10-Oct-08 13:01:23

wonderstuff it's so hard isn't it and when you get in the vicious circle it seems never ending.
We know we will be there in a month or two. We have a bank loan and pretty hefty ccard after dp mortgage buisness went bust earlier this year. My mat pay has just ended and i can't afford child care costs which will outweigh my wage if i go back to work so will have to pay back my occupational mat pay when i give in my notice sad
Luckily dp got another job but feel like we hanging on by a thread and it's going to get harder before it get's better!

wonderstuff Fri 10-Oct-08 13:13:13

Its just soo frustrating isnt it. Have you looked into working tax credit? We are earning too much, but it can pay quite a bit of your childcare costs, might allow you to go back?

Lilyloo Fri 10-Oct-08 13:49:27

they will pay some but after taking petrol costs and the ccare they don't pay my take home wage would be roughy £15 for a full days work!
We are determined to get back on top of things but it's bloody hard! Same for everyone i guess !

wonderstuff Fri 10-Oct-08 14:05:10

Soo frustrating when you try to work hard, and you aren't able to cover your costs.
What have you been able to save on? I have renegotiated mobile & broadband. Food is getting so much more expensive we are going to try to eat vegetarian during the week and eat meat on the weekend..

Lilyloo Fri 10-Oct-08 14:09:58

yeah we have changed broadband , cut sky, dp managed to change contarct on mobile as it was for buisness use.
Food shop has been cut in half eat more value things, get reduced meat , bread and freeze.
Have contacted car insurance and got a discount on our insurance.
Cancelled all non essentials window cleaner, aa memebership etc.
We have been managing not to put anything on credit cards so we are paying of a good chunk each month as we have put it on 0%.
Have you thought of combining your cards together and get 0% ?
It also cheaper to get a larger overdraft than put food on credit cards if you paying int on them.
We live in our overdraft at the minute.

hamandegger Fri 10-Oct-08 14:17:43

We're in the same situation at the moment, DH made redundant last year (is working again now) and CC's were used far too much. Now were are probably going to owe tax credits some money (maybe lots) so the next few months are looking bleaker than ever. Its al I can think about at the moment really. We to have enough in theory to pay everything, but then theres always more to pay out than has been accounted for.

meglet Fri 10-Oct-08 14:19:59

hi wonderstuff! I'm not stalking you,promise!

We're in the poo too. DP ran up £35k of debt when he was young free and single, which he is paying back at £350 a month for approx another 6 years angry sad. So we won't be having holidays and I am constantly trying to figure out how to cut back. Have you tried the mysupermarket.com site? When I put in our basic list sainsburys was actually cheapest for us (yay!), they don't do Morrisons on there tho. I'm going to try and get my food delivered so i can stick to a list. Now DS is nearly 2 at least he can eat the same as us too.

wonderstuff Fri 10-Oct-08 14:21:42

Good to know i'm not alone! on way out, will get back to this later xx

hamandegger Fri 10-Oct-08 14:33:45

i know what you mean, its not good that your all in the same situation, but its good to know its not just us!

Lilyloo Fri 10-Oct-08 14:34:22

Anybody else get really up and down about this. Some days it all get's too much and other days i think it won't be like this forever which is draining in itself.
The constant worry and stress about it is awful but you have to try and remain positive that you will get out of this situation soon as there isn't any other option really hmm
Oh am also getting lot's of xmas pressies off ebay this year and have started to spread cost out.

Lilyloo Fri 10-Oct-08 14:37:15

ham the tax credits are a nightmare. I met a couple of friends this week and we were all getting massively different amounts off them but in similair circumstances. One has been told she has to pay back some overpaid and isn't getting anything at all this year. That would finish us off!

hamandegger Fri 10-Oct-08 15:39:03

some days i can almost forget about it, others its constantly on my mind, but like you say, theres nothing that will do to change it. Im hoping to go back to work when dd is old enough for free nursery places, otherwise its pointless with the cost of childcare for 2 children. I have no idea how much tax credits we owe yet, but i think we will be receiving little or nothing for a while yet.

wonderstuff Fri 10-Oct-08 21:42:13

Yep somedays really upset, have cried many frustrated tears about it, but like you say, other days really up beat and not to worried at all. It won't be forever, it is really annoying, I am gutted that when we were young and had few responsiblites we didn't pay off our debts and start some savings, instead we joined a gym we never went to ffs! Utterly depressed at the amount of money we've paid the banks! But hey, we are bound to win the lottery sooner or later right? There are much worst problems we could have, we are happy (most of the time) and healthy, and thankfully our house is safe at the moment so gosh could all be much worse. grin

Our ccards were interest free once upon a time, too scared to apply for any more atm, and we asked the bank to increase our overdraft today and computer said no. Not a good time to be trying to borrow really is it. And we spent £50 at sainsburys today on half a weeks shopping, but that did include nappies and some pressies, cos it was 3 for 2 and had to get bday pressie for my nan for tomorrow so got xmas pressies as well, in for a penny in for a pound? Or was that the philosophy that got me here in the first place?

wonderstuff Mon 13-Oct-08 11:13:31

Over my overdraft limit, have borrowed from my dad cause I thought it was going to happen, but didn't borrow enough, dh getting paid on friday, I'm so down about it all today, don't really understand how it happened, the budget works, in theory we have enough money, just, how the hell do we keep ending up in this situation and how the hell are we going to move house? Currently in 1 bed flat, and would be so nice if dd could have her own room sad So fed up angry wish i was better with money..

hamandegger Mon 13-Oct-08 12:32:54

poor you ws, end of the month is horrible isnt it? like you, i never budget well enough. how old is dd? just keep telling yourself things will get better. we got our tax credits thing through, and we owe them £1700. luckily we can spread it out, still doesn't help though. I find doing a small shop online each week with tesco helps, i use vouchers off here and save about a £10 each shop, so only spend 30-40 a week on the four of us. have to go and see DS headmistress in a minute (hope its not too bad!), but will check back later

wonderstuff Mon 13-Oct-08 13:22:51

Actually seems like it will be ok, we asked for our overdraft to be extended they knew we were aware and not just being completely irrisponsible, so have allowed nursery check and avon payment to go through rather than bouncing cheques, they'll charge us, but much less embarressing than having nursery cheque bounce blush. hamandegger that is loads to have to pay back, ctc system is so rubbish isn't it! We used to be able to do a £30 shop, now can't seem to get it below £70, but if you're doing it it must be possible, what sort of things do you cook? DD is 11mo, so still getting our head round living on much less, I'm pt and by the time we pay for nursery not really bringing home very much. Hope all goes well with the head!

hamandegger Mon 13-Oct-08 14:47:31

school was fine thanks, he just has some problems focusing and concentrating, slightly hyper. we tend to do a big shop at the beginning of the month for tinned and dried food etc, then do 40-50 a week, but then use usually a £10 off code off here, so its more like 30-40. Thats for milk, cheese, eggs veg and fruit, and then a few household bit and bit towards meals. we eat a lot of quorn instead of meat which the kids love and is a lot cheaper. things that can be eaten the next day again like spag bol and lasagne. Mind you the kids are only small, im sure they will cost more as they get bigger! Also use a LOT of value stuff, most of its really good, especially tescos market value veg, I think it will be a lot time till we receive full tax credits again, but im going to start looking for another job soon, so hopefully that will help.

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