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Original poster

I have £0 and I cannot be in this position again.

128 replies

PlainJane74 · 14/03/2019 22:15

Hey. I am a working lone parent to2 children. I am the walking definition of on the breadline right now.
I officially have no money to my name as I type and because nursery needs to be paid out of my next tax credits payment due on Saturday, I have no money until the following Saturday.
I’m going to be okay (just) as I went food shopping on Monday. I have dinnersand just enough for a lunchbox for oldest DC tomorrow. I can do tinned and frozen food for the kids over the weekend.
I’m writing this post because I need help and guidance to not be in this position again. I get what I think is a decent amount of money to live on but here I am for the 5th month scraping by, credit cards maxed out and scavenging for change.
Please help if you can, I am completely ready to overhaul my finances. Thank u

OP posts:
Tulipvase · 14/03/2019 22:57

The 300 is weekly not monthly.

eyesbiggerthanstomach · 14/03/2019 22:58

Child benefit?

Flibbertyjib · 14/03/2019 23:00

You need to go through your bank statement for 1 month and write down each expenditure. Then go through each one and think what can I get cheaper and what can I live without. For example switching broadband, getting rid of sky and just using Netflix, shopping around for car insurance. When I was on maternity earning nothing I used all the new customer offers for online food shops so Sainsbury's 18 off 60 which was good and Ocado had good deals off first 3 shops you can find them online. Also it stopped me buying random crap from the middle aisles in Aldi.

Original poster
PlainJane74 · 14/03/2019 23:01

My childminder Blush
I have to have 4 days nursery for my youngest as I work shifts that change every 6 weeks.
Thank you for all of your input. For those pointing out that my income is fine, I know and kick myself everyday.
Menu plan is step 2 - how have I not started this considering I spend a lot of time on the site?!
I live in south east in an average house.

OP posts:
FloodedCuticles · 14/03/2019 23:03

How do I sign up for £1,300/month tax credits? Seriously?

WitBeyondMeasure · 14/03/2019 23:03

Would you be financially better off if you stopped working till your youngest was at school?
It seems like your take home pay doesn't cover your child care?

HollowTalk · 14/03/2019 23:04

Did you include your phone in this?

HollowTalk · 14/03/2019 23:04

How much do you spend on transport? Do you have a car?

Mrskeats · 14/03/2019 23:05

So you pay out 900 per month to earn 700?

Grace212 · 14/03/2019 23:06

EE - £60 a month - that's very high.

what are you buying in Aldi and how much are you spending in the sweet shop - still a bit confused where it's all going tbh.

HollowTalk · 14/03/2019 23:06

You are paying £200 pm just to go to work. What would happen to tax credits and housing benefits if you stopped work?

LarryGreysonsDoor · 14/03/2019 23:06

Look into your phone bill.
Are you locked into a contract? Check if you have paid off your handset yet.
Going sim only is so much cheaper, but only good if you own the phone outright.

Dancer12345 · 14/03/2019 23:06

Are you getting the 25% council tax discount?

Also, £60 for your mobile is high. Can you reduce that? Virgin - if you swapped that for Netflix you’d only be paying £6 a month instead of £30.
Your car insurance is also high. When’s that up for renewal?
Are you signed up to TopCashback or similar? Buy things through there (insurance, phone contract, online shopping, etc) and get cash back.

Also, on your list there’s no gas/elec and petrol.

HeyPesto55 · 14/03/2019 23:07

OP, I get what it's like having no money for luxuries for what feels like an eternity. In your position, I'd start looking at tracking expenditure, meal planning, paying off credit cards (to reduce the minimum payments (so hiding them / freezing them if necessary) and then boosting my income in some way. Even £50 a week extra would be helpful right now.
I'm not sure what you do for a living, but is this possible?

Original poster
PlainJane74 · 14/03/2019 23:08

Flooded - I know, lucky it’s ther really isn’t it otherwise I would be in poverty. Or just not work and drain the state 🤷‍♀️ You can sign up by doing everything on your own, with no break, having no family to support you and a cheating lying ex husband who has dumped you and the kids. Also, you have to work in an apprentice role earning an apprentice wage even though you’re touching 40 and work as hard as any member of your team who earn triple your wage.

OP posts:
SmellsLikeAdultSpirit · 14/03/2019 23:08

I have to budget well. You already know your outgoings so you know what you have left
I know how much money I have to live off each week and I don't spend over that. You really could do with trying to save even if it's £10 a week so you have a buffer for unexpected events
If you are bad with money draw out the cash each week and don't spend more

CherryPavlova · 14/03/2019 23:10

Your biggest issue is credit cards. They need sorting out. Go to your bank or the CAB and they will help to sort out freezing the interest and reducing repayments. You can then have a more manageable financial situation which isn’t increasing because of interest.
Look at your other costs where reduction is possible. Mobile phone and utilities can’t often be renegotiated or moved to cheaper provider.

Original poster
PlainJane74 · 14/03/2019 23:12

Yes, included phone with EE. As is iPad (I know, I know but I’m in the contract now)
Yes I have a car and spend on average £25 a week in petrol.
It’s realy obvious to me now but I haven’t switched anything in years Blush gas and electric I pay quarterly just because I can’t afford another £60/£70 due on 1st of each month like everything bloody else.

OP posts:
Handay · 14/03/2019 23:14

OP I sympathise. It's rent and childcare that's fucking you over. If you could get more of your debt paid down that would make a difference.

My ideas:

You could trim your foodshop a little. I find the cheapest way to eat is actually to do a roast with a cheap cut then have leftovers and sandwiches. I almost hesitate to say it because it involves spending money but buying something like Save With Jamie could help with this - it gives you recipes for roasts with all types of meat and proper recipes for leftovers and ways of using up bits and bobs as well, together with some dishes that cost literally around 50p per portion. It's really good. Even if you don't do that, meal plan definitely. Go through online recipes, shop to them, freeze anything you don't use etc.

Credit cards: try and ask your card companies if they'll drop the rate. They might. I got mine down from 18% to 4% with one phone call. If not, look on MSE for low rated credit cards. You can do a soft search for ones you can qualify for. I agree that with a low credit score you're unlikely to get a big 0% mainstream player but you might get one of the smaller ones with a low rate that allows up to two grand or so for you to transfer at least one balance and get some of that paid off. Then your credit score will improve as your affordability check improves and after a year or so you can transfer the other when you make another application.

Reters · 14/03/2019 23:18

OP are you sure tax credits are not overpaying you?

I work 30 hours.

Take home pay £1200 per month
Tax Credits £280 per month

(Plus Child Maintenence £200 per month & Child Benefit £80 per month)

Original poster
PlainJane74 · 14/03/2019 23:23

Handlay, thank you for your post I appreciate it.
Tax credits get my wage slip from employer every month automatically somehow. Childcare is correct obviously. So I just accept the money? Is there anything else they’d base it on?

OP posts:
AnyWalls · 14/03/2019 23:26

£300 a week tax credits? Wow

Where do I apply for this?

AliceRR · 14/03/2019 23:26

How do I sign up for £1,300/month tax credits? Seriously?

Also, you have to work in an apprentice role earning an apprentice wage even though you’re touching 40 and work as hard as any member of your team who earn triple your wage.

You might earn an apprentice wage OP but excluding maintainance it seems you get about £2,200 which is not bad for an apprentice role.

Sorry that’s not helping with your question but it baffles me how people’s wages are “topped up” to the point that I wonder why some people work their way up to bringing home what you end up with in an “apprentice role” and I know people who have really struggled without that kind of help from the State (which I know is not your fault).

You’ve been given some good tips for cutting down

Reters · 14/03/2019 23:27

They get the income from HMRC, but Im not sure if it is 12 months behind.

Are you sure you cant get a 0% credit card?

When DC are at school will you still need c.care?

NoSquirrels · 14/03/2019 23:28

I pay quarterly just because I can’t afford another £60/£70 due on 1st of each month like everything bloody else

All those things that are quarterly (gas & electric) or annual (Christmas, subscriptions like Amazon Prime, home insurance etc) or infrequent (birthday gifts, clothes & shoes, subs for children's activities, haircuts) you need to try to convert to a monthly sum and put that aside. That way you REALLY know where you're at.

After all, just because it doesn't come due every month doesn't mean you don't need to have money to pay it.

I would 100% guarantee that's where the credit card overspending and store cards have racked up - you've need to get the kids shoes, or buy Christmas gifts, or whatever.

Agree with the advice to look at moneysavingexpert credit cards balance transfer guide and see what a soft search will do for you in terms of getting the interest rates down. Even if you can't get a 0% card, a lower long-term balance transfer at 4.9% say would help you enormously.