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Depressed. Finances has taken a battering

2 replies

NameChangeJustThisOnce1 · 12/09/2018 07:44

My husband has just got a nice, well paid respectable job which he absolutely loves. However, financially we are not surviving as well as we would have liked! I only work part time on minimum wage, so my wages literally pay all of the bills and we are left with my DH's income. He has to pay £550 in child maintenance each month, plus income tax, NI and the like. We have worked out our budget and we included important expenditures like rent, council tax, water, gas, electric, broadband, and TV and all we are left with each month to pay for food, unexpected expenses (car insurance/tax/etc), is £450 to live off for the month. You might think that's a lot(maybe?), but we have DS who is 2 to consider as well and have to pay childcare too which is what uses up all the tax credit childcare element that I'm entitled to. I already cut down on spending, we go charity shops, shop in Aldi, we don't buy branded products, I don't drive everywhere only to go work.. so I just don't know what else to do? Sad I would work full time but again it means spending more money on childcare so I wouldn't even be earning any money as it will go to childcare! I've asked DH to ring CM and ask them to readjust because it's too much! But they said they're using the formula based on his arrears (an error on their side a few years ago) and his income!

OP posts:
swingofthings · 12/09/2018 07:49

It sounds like it is a case of holding on for a few months and then things will get better when your ds becomes entitled to the 30 hours and maintenance goes down when the arrears are paid. Focus on that time and planned none essential costs to be pushed to that time.

SuperLoudPoppingAction · 12/09/2018 07:50

Have you been on moneysavingexpert?
Do the budget spreadsheet they have on there.
Car insurance shouldn't be an unexpected expense. If you work out what you spend over a year, divide by 12 and put that in a bills account you will save up enough not to be taken by surprise.

Work out if your utilities, phone bill etc could be cheaper.
Do you have sky?

You shop at Aldi but do you buy low cost foods? Spaghetti is a cheap meal for example.
Do you meal plan?

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