Hi, I have overdraft debts and 2x credit card debts. I was working on reducing them but was off sick due to stress, this week the full paid sick has now reverted to ssp, I didn't know this as was working from outdated info so now I'm on less money and I can't pay as much into joint account etc so things are going to get very difficult.
I hadn't told DH about the debts as I thought I could deal with and he has always been less than interested when I've tried to tell him about money issues. Also historically he has had a fairly sizeable weed habit and I have had to shoulder many of the household expenses. Also I got into habit of sometimes overspending.
The debts are as follows:
CC1 - 970
CC2 - 1000
OD1 - 1500
OD2 - 500
I know these may not seem sizeable to many but we have a cut in income which is difficult to deal with. I've now told DH about most of the debt but am dreading telling him about the true extent. He is not in debt on his overdraft on his personal account as he has cut weed habit and he got out of debt by cutting his spending but this was mainly because I should most household expenses from joint account and my own personal account.
So I've contacted step change, I'm going to an advice centre as we should now be able to get tax credits. We are due some money back on the green deal and do have some savings. At work I am being counselled to go for a settlement agreement which will hopefully end my employment and I can then do some temp work until I secure something permanently and this may provide some financial settlement as well. FIL tends to send us 500 - 1000 at Xmas so that may well help.
I just feel awful that I didn't tell DH but I seem to have a lot of fear and anxiety issues around money and don't react well to financial fears tending to do head in sand. I can be highly organised with money when I put my mind to it but this has totally thrown us. I am working on reducing our outgoings and producing a budget but would be grateful for any tips for turning this around. We already do main shop at Aldi and have cut many luxuries. We have quite a bit of food in cupboard so should be able to survive just under 2 weeks till DH gets paid on that and just picking up fresh bits. None of us needs any clothes or anything and there are no outstanding subs for anything school wise. All other payments are upto date and I am communicating with the bank at all times over this. We do have around 1000 savings in other account. I could always thinks about cashing in my premium bonds as I've never won and had them over 20 years...
So any ideas appreciated from all you savvy ladies out there!