money money money

[cheekymonk]

Hi There,
Just wanted some advice before we do something potentially silly!
We currently have an IVA that started in Sept. Most of this year we have really struggled financially. I did have £1700 in my son's bank account but am ashamed to say that we have cleared it out. We literally have NO money until payday. I have hardly brought any presents apart from about 5 for ds and 1 each for mum, dad etc. My dh haven't bought each other anything because we can't afford to. We live without any credit now and so have no back up hence not having a bean left now. As it is Christmas, we are considering getting a payday loan or something similar but getting into debt got us into this mess and we have been trying so hard. We may sell a few bits to make some money but it is all so desperate and depressing. We have good jobs, dh is in navy and I work part time in civil service but after dh had a paycut after demotion we just can't manage.
Any advice? I have thought about getting a 2nd job ie. pizza delivery or something but dh isn't keen for him or me to do it as we have so much time apart as it is???

bump

Hope someone else can come along who can help you more. Just wanted to recommend this website www.moneysavingexpert.com/for financial advice, budget ideas and moral support. There may be forums there which would be more relevant - just a matter of trawling through them.

Good luck.

Thanks redadmiral x

Do you have anything in the house you could sell? We did a clear-out to move from a big house to a small flat, and I couldn't believe how much money we made. A lot of the stuff we sold I had thought would have to go in a skip - but people bought it all and we didn't go near the cash point in about two months. It wasn't anything amazing, but even stuff like Ikea furniture we got decent money for.

Unsolicited advice from an internet stranger, I know, but I'd prefer to have a quiet Christmas than a short-term loan hanging over my head in the New Year. If you have an IVA you may have trouble finding a decent interest rate.

Is there any retail work available near you for the January sales?

Good luck - just remember it won't last forever.

And don't beat yourself up about your son's bank account. It's not like you emptied it to spend on cocaine and champers. Keeping a roof over your head and food on the table is what emergency savings are for, no matter which family member's name is on the account.

Thanks ninedragons, thats really supportive. Yes will go through the house today to make some money. I knew a loan wasn't the answer. I work 3 days a week and dh works full time but evenings and weekends could be an option too.

Bar or restaurant work can be reasonably lucrative, and if you can get it in one or two long-ish shifts you'll make a financial difference while still feeling you have time for yourself. At this time of year people can be quite generous tippers.

For what it is worth, I find it bloody shocking that the armed forces don't pay a proper living wage. I mean, Jesus, these are the people who are supposed to put their lives on the line for the rest of us.

Good for you for staying away from loans - I know they sound tempting.