We are £50k in debt, not inc mortgage ...

[hidingmynamesake]

NC
I'm doing low/no spend Jan (and every rnonth going forward)
Looking at a second job .. that will take me to a 55hour working week
Cutting back where we can
Paying off more than the monthly repayments where we can but within reason and certainly not ££ every month, we still need to live

.. but that is not going to make any significant differences in the short term. A second job could bring in net £400pcm, cutting back to save £2-£3 on things like cheaper non branded items, saving a few hundred a month from cutting back ... that is nothing in the scheme of £50k.

We need something like £10k winfalls to start throwing chunks at the debt. That is not going to happen. Slogging away, going without (literally) and paying off very small amounts at around £400-£500 extra a month is going to take YEARS.

Feeling so so so down

your mortgage i already running until you are 69 which is beyond current retirement age, while I would never suggest cutting pension contributions do you have savings beyond an emergency fund as I would use that to clear some debt

if you do take second job make sure 100% of what you earn goes to debt repayment
Do not save for your children or agree to fund university when you are drowning in debt
Children and teenagers might not like having access to money cut down but they can understand that you can't spend what you don't have and you need to live below your means and can be encouraged to find part time work even a few hours a week to cover theiir own fun money

you need to properly budget with your husband burying your head in the sand is childish, he can't going blowing budget spending what you don't have because he "wants" stuff or holidays
you will be able to cut expenses when kids leave for college or uni and if they start to work after 18 they can at least pay enough to cover their share of food, broadband and energy costs and pay for their own phone, clothes and transport

I don't know age of your kids but downsizing once they are post further education ie 21-22 is definitely an option to clear rest of mortgage

Look at this site:

https://forums.moneysavingexpert.com/categories/debt-free-wannabe

You have a husband problem. Each week, he could do one shift at a supermarket, one evening pulling pints, or one evening driving a taxi, and it would help. How much of the debt did he run up?

If all the debt is 0% interest, pay off the one that has the shortest 0% interest period left and make minimum payments on the others. Rinse and repeat. Otherwise, pay the one with the highest interest rate first.

Do not do anything that endangers your home. Do not borrow against your home and do not enter into any kind of agreement that would allow creditors to repossess your home.

Pay only the minimums of the 0% and put EVERYTHING else into a high interest instant access account to make more money!

I am coming back @SleafordSods !
We are early 50s, salaries are good but DH has a liability to pay out around £1.5k a month ... sometimes this is £2k .. it's relating to his previous marriage .. and this is what is stopping us from paying more off the debt each month. It's not debt and he has it for a few years still. I don't want to go into details as it would be very outing. Not DH's fault.

The debt we have is all joint and ran up jointly.

I don't want to put the debt into the house (mortgage) as it will cost more longer term

I’m glad you’ve come back. You’ve had a lot of replies and some good advice. I was worried you’d become too overwhelmed.

Have you looked up Dave Ramsey, or the Barefoot Investor? Both brilliant. Their books are free in the library. You can do this.