To feel depressed at how skint I am?

[Smolgoose]

I was furloughed for 8 months over the past year and a bit on 80 percent pay and it has tipped my precarious finances into total shit. Money is tight anyway on full pay (I only earn 16000 a year) so I've had to make up the shortfall with overdraft and credit card.

Endless expensive things keep happening, like the car needing repairs and it's starting to really get me down. I have £50 to last till the end of the month which is doable just about, as long as I stick to cheap food.

I've taken on an extra part time job cleaning that starts later this month, but I have no idea how I'm going to physically do it on top of full time work, as I've had health issues recently.

I just feel so depressed with it all.

Have you checked you're getting any benefits you may be entitled to?

What are your outgoings, maybe we can help you find savings?

YANBU, any unexpected drop in income is hard, no matter how much you earn. Are you back on full pay now? If so, try to set yourself a realistic plan to pay off the debts and hopefully having the end goal in sight will help.

I do matched betting for extra cash and it's a lot less draining and time consuming than any other part time job. You could Google it or look for threads about it on here.

I'm not entitled to universal credit unfortunately, I must warn too much!!

I get roughly 1200 a month pay, then outgoings are

Rent £525
Council tax £90 pay manually
Road tax and insurance £38
Credit card repayment 120
Internet, electric, gas water etc £81.50
Phone £16.8
Netflix audible & labour party membership £28.28

I would try matched betting but I don't have any money to get started! Like if I deposited £20 and made a mistake and lost it it would be a disaster!

Write to credit card companies and say you can't afford to pay and offer a much reduced payment

Cancel Netflix and labour party membership.

You need either increase income or reducd expenses or both.

Do you live alone? If yes, can you take a lodger?

Can you find some additional work?

Are you still on furlough? If so it might be time to consider looking for a new full time job. What is it you do?

I live alone but don't have space for a lodger (unless they would be okay sharing a bed with me!)

I'm back working full time now so no longer on furlough. 1200 is my full pay not furlough pay. I work in a shop.

Don't cancel Netflix FFS. I hate it when people suggest this. If you are absolutely brassic then why on earth would you get rid of your main source of entertainment. Labour Party membership could definitely be binned.

Even though you can't get UC I think you might still be on the threshold to get a reduced cost of gas and water. The gas discount application is in August and only takes a few minutes to apply. Water you can contact the water suppliers (water in and sewage too) to get it sorted. I'd cancel the two subscriptions and use that to do matched betting. If you follow a really good step by step blog it's really hard to make a mistake as long as you're careful and go slowly. Also try and get your credit card repayments down. The health issues might be triggered by the stress of your finances and even that extra bit of work cleaning or whatever might take your mind off of it. You've got this! Also if you have a good phone plan you might not need to pay for broadband?
Another thing you can try is 20cogs and ohmydosh but you do need to be extra careful to, to not forget to cancel the subscriptions that you get paid to trial.

Libraries usually have a free video streaming service with your membership and there's some good shows on UKTV player for free.

You may be able to reduce the Lab Party payment without cancelling. I just had a look on the website - you might be eligible for 2.21 or 4.68/month ... anyway less than you are paying now. Ask the memb sec of the BLP or CLP.

Have you tried to get a council tax break? Not sure if you are the same, but we pay over 10 months, you can usually move your free months or stretch your balance over the full 12.

Another idea is if you have any local friend who wouldn't mind you sleeping on the sofa the odd weekend? You could air BnB your place once a month or so and split the money with that friend or buy them dinner. If your landlord allows it or you wouldn't get in trouble of course. Are you also getting a single persons discount on council tax with your income taken into account?

It's always going to be a struggle when your rent and council tax takes over half your income unfortunately. And then everything else like trying to run a car. It's just not affordable on low wages, but without DC you're not entitled to any help.

You either need to move somewhere cheaper - share a 2 bed flat or shared house, earn more, or get into debt. But if you have no assets and no spare income, a debt relief order might be appropriate and then at least you'll not have to make the debt repayment.

You shouldn't be making debt repayments if you can't afford food, so that's the trigger to do something more formal about your situation. Up your income, move somewhere cheaper, or look into getting your debts written off. Look on Moneysavingexpert and go through everything from the beginning.

www.moneysavingexpert.com/budgeting-debt-help/

@Northernsoullover It depends how much it means to the OP to be able to say 'I am a member of the Lab Party' (or any organisation). Anyway there are options on this, when she has a chance to ask about it. I agree with you not to cancel Netflix

A debt relief order would be a bad move - your credit score is fucked with that. Better off paying off the debt and not using credit again afterwards.

But if the OP can't buy food and can't afford to repay debt she could be in debt for years to come.

OP, how much of that £120 you are paying is going on repaying the debt and how much of it is interest?

I feel for you.

I think some are very comfortable and when they want restrictions to go on and on they forget the cost to others like yourself.

Good luck in the future

You say you live alone, but on a recent thread said that “we” were looking for somewhere cheaper to rent. Are you on the verge of moving in with someone then? If so, make sure that you’re splitting the costs in a fair way, not simply 50/50.

I feel for you - Covid sucks 😫 thank goodness you had the 80%!

Do you have any possibility of moving back with parents for a year? I’d have my daughter home in a heartbeat if it helped her - though I expect the reality might make a MN AIBU question or two ☺️

Do you need a car or could you get by on public transport ?

You haven't got a TV licence listed in outgoings - did you forget or have you chosen netflix over all linear TV? If the former then do make a choice and only go with one!

Your phone is expensive (can you switch to a cheaper deal?) and you've not budgeted for car repairs or petrol. Can you really afford a car? Can you do without - sell it and pay off the debts?

If you do shop work then could you do an evening bar or waitressing job to get some extra money in to clear the debts?

It's OK to feel depressed by it. What are your coping mechanisms? Soem use the frustration to fire them up. Others can take some time to wallow, then come out the other side. However you manage is OK, and there are people that can help with practical suggestions when you want.

I'm relectant to go down the debt relief order, as if my credit score is messed up it will basically mean I won't be able to rent when I move in future.

@cocomarine yes, im trying to find a place with my partner but there's literally no where to rent. I can't move in with him as it would make my commute to long, I'd have to find a new job which I guess is an option but I'd rather not. He can't move in here because it's a shoebox and he works from home and needs space for specific equipment.