Home Life, Relationships & Finance

alyxzandra · Apr 17th, 2008, 16:23 PM

Quote:

Originally Posted by Sparky0207

Thank you everyone. Ive managed to get a loan (it is quite high interest but will consolidate it when we remortgage next year) which should pay off some of our debts so our outgoings are reduced, but ive just sat down and did a budget and our outgoings are still over £1000 a month and i just dont know how we will cope when LO is here.
Half my anger is directed at OHs parents as we borrowed some money off them when we were struggling (just under 2k) and they said that we could pay them back £200 a month, which we have been doing. Now they have booked a holiday and need to pay it by the end of May and so are demanding that we pay them the rest off (£1400) before they go in May - there is no way we can do it. They are having a go at OH and he is having a go at me and theres nothing we can do to solve it. What pisses me off even more is that OHs brothers girlfriend is pregnant and all they ever seem to do is buy things for them and they even bought themselves a new car, they know how much we are struggling so surely if they can afford to spend all this extra money on everything else, they shouldnt be in such a rush for us to pay them back so they can pay off their holiday

I really dont know what to do and its stressing me out more than i can believe

xxxxx

Oh, I fully understand how you feel. I owe £16,000 in credit cards. I own a 1 bedroom flat and my fiance and I need to come up with £27,000 to extend it for a second bedroom (all being done on the mortgage, of course). But, what I do is switch over my credit cards to 0% interest so the monthly payments are lower and then concentrate on paying off one card at a time. I also set up a monthly budget with my fiance and we put a certain amount of money aside into a joint bank account that pays for food, mortgage, council tax, etc. I use what is left over to pay off my credit cards.

There is a site that I use that has helped me to save a lot of money on phone bills, electric bills, etc. It also tells the best rates on switching credit cards. I did a complete overhaul on my finances and work on slowly paying off my debts. It is http://www.moneysavingexpert.com

As for your OH's parents...they are not exactly being fair! I hope things work out.

Sparky0207 · Apr 18th, 2008, 09:20 AM

Ive had a look at that website - its brilliant! Might try reclaiming my bank charges too!

I called two of my creditors last night to sort out payment plans and unvbelievably, both of them said if I could settle the amount in full when i remortgage, they can reduce it by 50%! I couldnt believe it, finally things are going right!

Had a big row with OH tho as hes suggesting we miss our mortgage payment to pay his parents back - the first time we default on our mortgage we will never be considered for an advance so there is no chance of that happening!

Thanks again everyone

xxxx

alyxzandra · Apr 18th, 2008, 12:00 PM

That website saved me and helped my finances. A brilliant suggestion was to just have basic phone service and use an override (1457 is one I use) to make free calls. And I also use another override to call the US for .05 a minute. BT charges extra for "free" evening and weekend calls and international add-ons. I also pared down my Sky package and considering another alternative for my TV, got the best broadband, etc. And I reclaimed my bank charges long before it was well known to do so thanks to this site.

All this little stuff does add up.

I still think the OH's parents are being unfair and if you miss a mortgage payment, then you will lower your credit score. And that is not a good thing! Good luck to you and glad the site may be of some help.

Sparky0207 · Apr 18th, 2008, 12:12 PM

It is fantastic, ive been on it all morning getting some extra tips! We never had sky to start with but have changed broadband providers this morning which is saving us £12 a month and have disconnected home phone as we never ever use it which is another £11 a month. Its all adding up! Finally I can see some light at the end of the tunnel! Thank you

I have told OH that under no circumstances are we missing the mortgage just because his parents cant afford to pay for their ridiculous overpriced holiday. If we miss this one then we wont get the advance on our mortgage and im not risking that for anything!

Thanks so much for recommending this site, its brilliant!!

xx

alyxzandra · Apr 18th, 2008, 16:24 PM

Wow! You have been busy! You have saved £23 a month just from today! That is great news! Make sure you sign up for the email news from there to get the best information each week on saving up money. I am so glad I was able to offer something helpful.

As for your mortgage, good on you!

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