where has the credit gone?

[winterblues25]

I’ve usually never had a problem being accepted for credit but just tried to increase my credit limit on my card recently and was refused, new balance transfer card and loan applications refused, credit score good, even the balance transfer offers on my credit card which I’ve had for years have been withdrawn??

I think its a good idea to keep pensions due to the employer contribution.

Yes definitely as they’re quite generous schemes, we’d opt for decent food and swimming lessons etc over the pension contributions if was an absolute choice but has made sense for us to borrow to tide us over when needed and keep them up

How does that comment help? What's OP supposed to do, put the kid back in her uterus?

Yup, replaced when either they wore out or I outgrew them. School uniforms cost a lot more back then, there weren't the two shirts for a tenner packs in supermarkets, we had to get uniforms from a specialist shop or Marksy's.

@winterblues25
Did you pay off the mortgage 70K to get a better interest rate?
If you did that where has the spare money gone that paid that?
Or was it prior to elder DC going to Uni?

Yup. We had a period of unemployment where we didn't get to have a bath every day unless we'd tolerate a cold one because we couldn't afford to put the immersion heater on every day to have hot water. House didn't have central heating, DM turned the gas fire on in one room and we got changed in there from PJs to uniforms, uniforms to play clothes, play clothes to PJs. We could have a kettleful of hot water in a bowl for a strip wash in front of the gas fire. I had to take all the clothes out of my fitted wardrobe because mould grew in there because my bedroom was unheated.

So spare uniform sets were a luxury that we were absolutely not getting.

My mum managed with one set of uniform and two shirts per child and she didn't even have a tumble drier. I'll explain her method:

1. Your kids change out of their uniforms into "scruffs" (so play clothes, like joggers, t-shirts, and hoodies) as soon as they walk through the door.
2. You or DH check the trousers, skirts, and jumpers for marks, and spot clean. Older DC can do this themselves.
3. You or DH put the shirts in the washing machine using the quick wash whilst one of you makes the dinner. No staying up late.
4. You or DH pop the shirts on the airer in the one room you can afford to heat as soon as they come out of the wash. They will be dry in time for the day after tomorrow.

Dirt disasters so serious that they cannot be spot cleaned go through the quick wash and then you send your oldest DC with the wet garments and some change to the launderette to get the garments dried. This should be a rare event.

Yes, but those are secured loans, secured against the car.

Ever feel like you’re talking to a brick wall?

OP wants to live her life with eyes half closed and seems to have ridiculous idea that taxation should go down.

The harsh reality is that taxes are going to increase because of the need to spend money on defence : the first duty of whatever government we get is to protect its citizens.

OP seems to lack any concern for the financial situation of her family and more value placed on outward appearances

One wonders what role OP’s DH plays in all this- perhaps he also feels he is talking to a brick wall

My point is that organising the kids' clothes shouldn't all be on you. Your DH can help with the younger DC and the older ones can sort themselves out.

Each person's socks should have a place where they are kept. I am autistic with significant ADHD traits and I have never been unable to find a pair of socks because they are kept in a fixed place, to which they are returned as soon as they come off the airer.

It's clear to me that your problem isn't just debt, it's disorganisation generally. Debt is an outcome of a special case of disorganisation: financial disorganisation.

If you are thinking of stopping your pension contributions, you are already in financial crisis. You do not solve a financial crisis by borrowing.

People are trying to help you. If they seem unkind, it's because telling someone facts that they don't want to hear is frustrating.

So what is your plan OP? If you can’t do a balance transfer and your debt is incurring interest of 25% will you carry on as you are?

@winterblues25 you know I’ve been a supporter of you on this thread

if you are only making minimum payments and thinking about stopping pension contributions then please contact your credit card company. You are struggling

honestly the best thing I did in my 20's was contact mine. They are there to help and get you out of persistent debt. Talk to them about closing your card and stopping interest payments

It means the banks are tightening things up. Minimum payments are no longer good enough. They did this before the 2008 crash too. The economy is heading for a bit if a roller coaster.

It's time to pay off more than minimum.

wash and iron school uniform

During the unemployment phase, the only clothes that were ironed were DM's interview clothes.

We could not afford the electricity to iron anything else.

You do not need to iron uniforms if you hang them smoothly over an airer.

No it’s just what we’ve paid over the last 10 years off our mortgage capital, my point being that we could of just carried on renting and not had any debt and some cash savings but we chose to buy a house instead, we’re better off for it overall, our assets are just tied up in the house and our pensions

Lol 5 sets of uniform

DH and i are juggling full time work, kids, long commutes etc, no family help near by. We have v high incomes. 2 junpers apiece! 4 shirts. 2 bottoms.

Op is probably of the types who will only break the habit with a hard lesson. Twas ever thus.

I suppose it depends what type of material, talking about thick cotton shirts here, not polyester, the trousers and jumpers we get away with just hanging straight from the drier. Regardless, would it not be terribly inefficient to put the washing machine on every night or 2?
I did actually used to manage ok with 3 uniforms but with new baby and even less time than I had before having 5 uniforms for each child has made such a difference,

Kids?? That could mean anything from 18 month old triplets to a 10 and 12 year old??? Again that could mean anything from triplets who all sleep through the night and nap for 2 hours a day to a 10 and 12 year old with severe high need disabilities. To criticise another mother for being time poor (because she happens to have a very active non napping 1 year who is still up 5-10 times a night (particularly during the winter bug season) plus 2 primary aged children, a husband who works long hours and away plus also juggling work you know nothing about is low.

We do anyway

Cold wash, it doesn't cost too much, and Mum's interview blouse and my (non-wired) bra (unusually-sized and hence expensive, so I got just two) would go through in the same cycle. Uniforms used to be a lot more expensive than they are now. These days, it would probably cost less to have five shirts and have me handwash my bra every night.

🤔 really, we can manage our basic living expenses, sorry if the concept of taking the opportunity to invest in our pensions and housing asset while borrowing a small proportion to do so is too abstract an idea to you. Yes we are incredibly blessed to have the children we do 🥰

You are in debt to the tune of 17% of the annual money coming into your household. You aren't managing.

We’re not thinking of stopping our pension contributions but we would theoretically temporarily if we needed to. I’m sure if I’d wanted advice as to how to manage our money I would have phrased my original post just a little differently don’t you think? 8k is a small fraction of the assets we have, it’s a debt that has significantly reduced in the last 5 years and yet people are falling over themselves to give irrelevant unsolicited advice

Can you define ‘ not managing’ please?