Anyone worrying about the rising costs of life

[Needanewadventure2021]

I know this is money related but im aiming it more towards single parents. I know everyone will be feeling the pinch but as a one income household it's making me feel sick.

I recently posted about taking my son on holiday. Luckily I have been able to save over the last few years to be able to take him next year. However I am now feeling like I cant justify taking him away.

I read tonight that household bills are set to rise a further £1500 a year! I'm already feeling a huge strain financially and the thought of it getting worse is making me feel ill. I have pounds left a month so what the hell are people meant to do?
We have no social life, no luxuries. Live hand to mouth.
It makes me feel shit to be honest and scared that it's going to get worse.
You get yourself to a place where you feel you can manage with what you have, then it gets ripped away from you.

I work in a low paid job. 30 hours but unable to work more. Constantly looking for a new job. Intermittent/insulting maintenance payments paid via CMS (DoE) and tax credits top up.

Yes @lollipoprainbow I said this at work yesterday. Everytime I feel like im at a point where I know where I stand, financially I get hit again. It doesn't help the despite using the CMS my sons maintenance gets paid irregular and incorrect so I know each month we start with a loss. I used to be with Avro and was happy with them for 3 years until they increased my DD. At the time I didn't realise it was the way things were going but I only moved to where I am now (same DD avro were saying) was because they became really difficult refunding me over 500 in credit.

@megletthesecond i put monthly readings in too. I even have a book, sad I know! So I know I'm using very similar units to years/months previous

Something has to give as so many people are being pushed into poverty

I feel so sorry for you guys who's gas and electricity companies have gone bust. Especially now. Its one of the biggest cost increases.

It is dreadful isn’t it? I have survived and live well with little money because we are extremely careful with it. My clothes are nice but they all come from charity shops, same goes for the furniture and even the paint on the walls.

I have saved a lot by embracing frozen food as it reduces waste (by that I mean frozen vegetables and meats, not ready mades). We managed to have holidays but that was because we never went to the cinema, restaurants or play areas. Our outings were mostly picnics at parks/countryside/coast throughout.

Op, if you have a small mortgage due to plenty of equity, it may be a good idea to check if you can change to interest only in the next renewal. I know it is strongly advised against but if you are responsible with it, it could make a massive difference.

I am currently in interest only but saving the amount I would pay in a repayment one. This gives me the flexibility to divert money “from the mortgage” when needed while also making regular overpayments to ensure the amount I owe in the mortgage continues to reduce.

@rougemouse I am/was with Utility Point, the advice I got from “look after my bills” was to sit tight until the transfer was sorted abd then they would find me another deal but have not replied to my messages on whether I should stop the direct debit.

So I am not sure if I am paying money into a lost cause already 🤷🏻‍♀️

Where is the help for people like us?

Are you claiming everything you are entitled to? @lollipoprainbow

CTC, WTC, child benefit, free school meals etc. Might be worth running a check and seeing if there is any help for you.

It's worrying. We have the NI increase coming in April (£10 per month if you are on NMW). I am also expecting big council tax increases in April.

I am very worried, but I am reliant on Universal Credit which I doubt will see any kind of raise anytime soon.
there is no spare money at all, just about paying bills as they are, so a rise in outgoings will see us falling from extreme poverty and into deprivation.

Poverty line is around £18500 a year, we're well below that.

Sounds very much like us. Only reason I've been able to save for a holiday is because we don't have a social life that costs money. We do free things. I was so excited about the thought of taking my son on a holiday abroad next year for the first time on my own (I find abroad cheaper) and seeing how happy he is on the beach and now I thinking I cant because living is getting so expensive. Its upsetting.

I only shop twice a month. Not ideal as I'd prefer to feed us fresh but where I can I batch cook and freeze decent home cooked meals. But the same, our freezer is a godsend and helps me manage food alot better.

I've recently done a big overhaul of finances, cut charity spending, switched suppliers, cancelled subscriptions but feel like I'm just fiddling round the edges.

We are going to go mostly veggie and only eat meat and fish a couple of times a week, don't know how to cut food costs further, as we already shop at Aldi. We take packed lunches and home made coffee to work. We are also going to be doing things like extending the time between haircuts as much as possible.

I agree with you - it's very difficult and I M constantly stressed. Working FT but Not enough to save for holidays/ treats/ meals and days out etc. - so constantly living in debt. Utility bills council tax rent -internet/ travel costs. / that's before food - So it made my blood boil to hear the MP living on a different planet to those working full time and on UC say it's just another 2 hours a week work and we can help people get the extra work!

@Wotwhywhen exactly. I've joked that I have lived below the poverty line for years. When in actual fact it's not a joke at all. It's real life. How is it possible to work and live well below the poverty threshold. And your right, its quickly moving us into deprivation

Just remember that this will take a number of years, bu which time your children will be older so that you can work more hours and earn more money.
They don’t stay little forever, and get considerably cheaper.

@Needanewadventure2021

I claim tax credits. UC somehow sees me lose 2/3 of my tax credit entitlement. I'm told it because I am mortgaged. Yes I hope I keep my job too but even in my Job I am struggling now already

Go on benefit calculator I would be very surprised if you lose 2:3s

What is your salary?

The sad thing it this will be hitting households everywhere apart from the rich! Though it may not he nice paying out more, at least those with money can afford to do so and still maintain a decent life! Single parents and one income households are going to feel it massively. Makes me laugh when people brush it off and say, it's one or 2 less takeaways a month or some shit like that. Well when you don't have takeaways or spend money on unnecessary things it's not a case of is just this or that less

@Marni83 I was surprised too. A woman on here on the money thread also calculated it for me and said UC isn't fair to claimants with my circumstances. She agreed the loss with significant so to stay on TC until I get migrated over

[quote Needanewadventure2021]@Marni83 I was surprised too. A woman on here on the money thread also calculated it for me and said UC isn't fair to claimants with my circumstances. She agreed the loss with significant so to stay on TC until I get migrated over[/quote]
You take £1000 a month
And have a child
No spousal maintenance

Op you will be entitled to a fair old whack on UC unless you have saving

Equity in your property in NOT included in UC calculations

Im so sorry you feel this way, stop reading the newspapers, they are all doom and gloom merchants. Im not going to say much more as I got very nasty comments on another thread, but do contact your Citizens Advice Bureau if you get into anymore financial difficulty. Have a look at Martin Lewis website, as it sometimes has good advice and you can sign up for his email newsletter. Please do take care and honestly, don't believe everything you read in these newspapers. Most of it is sensationalist drivel , not proper reporting.

@Bookaholic73

Just remember that this will take a number of years, bu which time your children will be older so that you can work more hours and earn more money. They don’t stay little forever, and get considerably cheaper.

Cheaper??? Oh do you mean childcare costs? In that case yes I agree but other than that they definitely do not get cheaper!

[quote Needanewadventure2021]@Marni83 I was surprised too. A woman on here on the money thread also calculated it for me and said UC isn't fair to claimants with my circumstances. She agreed the loss with significant so to stay on TC until I get migrated over[/quote]
Do it yourself!

It’s asks for a lot of info to give you accurate calculation - so unlikely that she would have done correctly

Are people missing the bit where OPnhas said multiple times they have done the calculations many times and had others don't for them and it still shows that UC will be less?

Is it a failure in reading or failure in comprehension?

@Wotwhywhen

Are people missing the bit where OPnhas said multiple times they have done the calculations many times and had others don't for them and it still shows that UC will be less?

Is it a failure in reading or failure in comprehension?

She has said another poster did it for her

@Marni83 but I was told it is because I have a mortgage. I get no help towards housing costs. I just get the basic elements. I will check again though but only recently I was being told I am better on on TC. No savings, just the 1500 saved for a holiday

I have worked in benefits

Unless the op has savings more than £6k - then it will be very similar to TC
Possibly more

[quote Needanewadventure2021]@Marni83 but I was told it is because I have a mortgage. I get no help towards housing costs. I just get the basic elements. I will check again though but only recently I was being told I am better on on TC. No savings, just the 1500 saved for a holiday[/quote]
But you don’t get housing help on TC if you have a mortgage

[quote GrandmasCat]@rougemouse I am/was with Utility Point, the advice I got from “look after my bills” was to sit tight until the transfer was sorted abd then they would find me another deal but have not replied to my messages on whether I should stop the direct debit.

So I am not sure if I am paying money into a lost cause already 🤷🏻‍♀️[/quote]
I saw this is in the help my bills FAQ ... but I'm worried if I cancel it the new supplier will see some kind of default on my account and not want to take me. I think I'll call help my bills today. I'll post back here with what they say