hi i kinda have same problem my work ends in oct as its seasonal n i dont no whether to go nto income support and incapacity or maternity allowance as ill need housin benefit when i finish xx

krysty n flump 18+6

Sign up to the baby clubs, it helped me when i had my baby.  You can get some freebies and vouchers that can help with costs for the baby. http://familydealscard.com/html/baby_offers.html

Its great that so many people have replied to my post, but its a shame that so many people have big money problems. i have taken some advice, and with a little equity in my house i have applied to borrow extra on the mortgage to pay off my debts and switched to interest only  to make it more affordable. when we do eventually sell, we wont be able to move up the ladder, but i wont mind renting for a while, could do with a rest from the responsibility of a mortgage! so fingers crossed on the extra borrowing! Ive also signed myself off work for a week to rest my aching back and sort my head out, so hopefully no more crying after my rest!!! Heres hoping!

I also want to add that This is such a great forum, everyone is so helpful, and i dont know what id do without u guys! x x

Hi there,

I think you may be talking to me about how we paid off the huge debt. We paid the vast majority of it by us both working full time and us living with friends in a shared house. We were all brassic so we rented a 3 bed detached house and paid about £350 a month rent + bills and used our monthly surplus to pay stuff off. Some of the loans we just let tick over until they had gone because the interest rate was so low e.g. my student loan and we had also a Royal Bank of Scotland Card with 0% interest so we just paid the minimum £50 off that every month, the rest of the time we lived pretty frugally and paid at least 1k off a month. I remember distinctly because that was about my pay at the time and all of it went into paying of  £1k from dh's personal loan every month but we cleared it with my earnings.

We also did the credit card tart thing as well which someone mentioned. We switched from one credit card to to the next (went through Egg, Natwest adn RBOS lmao) but only if it was worth our while i.e. 2.5 or whatever transfer fee on the whole amount was less than the interest on the amount on the card it was on already iyswim.

We did get into more debt after we paid it all off which as you can imagine was totally gutting but I reasoned with myself that it was for a 'good' reason; my dh wanted to go back to being a student and get more qualifications so he could ultimately earn more money in the long term. It took him 5 years but he managed to complete an Msc and a PhD. He has got a job now and we are using our money to pay off the debt we got into while he was studying. We have 2 small kids and I only work p/t. But knowing what we have achieved before, I know we can do it again.

For all of you who are struggling, there are ways of getting out of it. It's *not* and never will be a quick fix getting out of debt but if you are methodical and savvy about debt management, you will be able to sort it and will get there in the end.

Love Nat, x

Hi just wanted to no how you managed to pay off all that debt in such a short time? i feel there is no end to it x

hi, there is a company called consumer credit couselling service who have a website and are a charity so will not charge you a penny for helping you unlike some companies.

they will go thru your finances with you and look at the best way of helping you out of your current situation. they always ensure your priority debts are paid , then they will look on how much you need for general living expenses , and finally see and whats left at the end of the month, in many cases they will collect this and pay your creditors this .

its not ideal as it does tend to exttend the length of the debts but does mean you know you can afford to live every month and they are flexible so when earnings do decrease so will your plan.

We were struggling a bit recently until we did a bit of consolidation ourselves. We are lucky enough to had a reasonable amount of equity in our house so we managed to get a loan based on that, and even if we have to sell tomorrow, we should come out ok with enough for a deposit on another property, unless prices go down by a hell of a lot.

Try to get rid of credit card debts first, as the interes rates on them is usually quite high. Become a credit card tart if possible and transfer all your c/c debts to as few cards as possible with 0% interest offers. As soon as the interest free time runs out apply for another interest free one and transfer. That way you only pay off the debt which reduces much quicker. Cut up old cards so you can't use them, but don't start to cancel too many until you have transferred the debts.

Don't bother trying to save money in a savings account as the interest you get is so much lower than credit cards etc. that you would still effectively be losing money. Use spare cash to pay off debts / loans etc.

As a first time mum I've also been trying to think rationally about what we actually really need. I'm not bothering with a moses basket - no point as the baby will grow out of it so fast. Am not buying cot sheets as I have a cupboard full of sheets I can cut down, not buying baby towels as ditto, will buy a new cot and mattress and travel system, bottles and cothes, but my high chair from when I was little is still in the attic at mum and dad's, so that'll be gettin used. Am planning on using real nappies which are cheaper (by something like £700 over 2 years per child including electricity to wash etc.) and better for the environment and your bin charge if you have one. I'm also planning on scouring charity shops for baby clothes etc. because lets face it, as long as its happy, healthy, warm clean and well fed, what more do you need as a baby?

You could also try doing what I do as a bit of a hobby. I tend not to give to charity - for us at the moment it begins at home. Instead, I sell stuff on ebay and then, with the money I make, we buy things we need or want, and uusually a bit cheaper too than form the shops. Also try doing boot sales. As long as what you sell is clean and in working order you should do well. I've never done a boot sale and come away with less than £100. Just look at your posessions with new eyes and see what you can do without to sell. And you can have fun doing it too!

We don't have much spendable cash as such, so no real treats like going out etc. but we have managed to pay off our cards and debts and now have a single payment for loans and mortgage combined, and it is so much easier.

Failing that, can you move into smaller rented accommodation and rent out your house for more? As long as you cover your mortgage with your rent, and your rent on your new place is less, you shold be able to have something to play with? Try anything you can, but only ever apply for insolvency as an absolute last resort.

I hope some of that helps, but if you're really struggling, there are people who can help with debt problems, and a first port of call should be Citizens advice bureau. Go to them first rather than any debt line on tv etc. as you can get seriously caught with them.

Best of luck, and try to stay positive. Once you make a plan on how to get through this, stick to it rigidly!

heya,

u poor thing.i felt the same when i found out i was pregnant with this lo.i had some real low moments of feeling like i was gonna be a crap mum because i couldnt afford to blow loads of money on baby stuff and we had debts (and still have) to pay off.I have scrimped and saved in every which way i could but was a bit silly and ignored alot of the debt and i know ive still got worse to come to but we are now trying to sort it out which itself makes us feel a lil better.Ikea is great for some baby things as they are cheap but u wouldnt be able to tell.i got a lovely cot from there and cost me the grand total of 29.99 and the matress was 12.99.like other people have said freecycle is amazing and the people on my local one are lovely and have been such a great help.so chin up hun.im now 39+2 and have somehow managed and if you talk to people im sure u will too.i know all to well about those bloomin hormones making us randomly burst into tears but it will get so much better.

hugs

x

Thanks for all your advice and support. I know im not the only one with debt. its so easy to get into debt now days, and you dont realise how bad it is until your circumstances change! i feel a bit better knowing that you guys managed in the end, so i know i will, just have to pull myself together and stop crying long enough to take some positive steps! im exhausted from the tears! go away hormones!!!!!!

hi,

we are with Northern Rock and we are taking a 6month payment holiday, which you can take if you have 9 consecutive payments.  I would really look into doing that, as without that, i dont know how we would manage either.xx

There are some trust out there that you can apply to for money it's not a loan or anything you have to pay back.  The one i applyed too was called Severn Trent trust Fund and they help with household bills that have got out of hand.

I basically wrote them a letter and explained my situation and they were really helpfull.

If you contact the creditors you have and explain your situation in some cases there are things they can do, ie freeze interest so the debt isn't getting bigger they can also sort out payment plans.

But the best thing is not to hide from it i know it can be scary i have just finished an admin order which is a lot like bankruptcy, contact the CAB (as suggested by another lady) they really can help and there is stuff you can do.

Good luck with everything

Forgot to say - also I used resuable nappies. You can even get them second hand and in v. good condition from places like www.thenappylady.co.uk.

Hi there,

We were in a right old pickle too when I got unexpectedly pg with my dd in 2003. I was beyond stressed at how we were going to afford a baby. My dh was a student and we still had to pay off my student loan, and all my dh's debts: credit cards, a massive loan, overdraft - the list goes on and on. I remember wailing to the nmwife about how we couldn't afford a baby at 20w and I'm really not the overly emotional, hormonal type - EXCEPT WHEN I'M PG! she said to me 'well, you need to cut your cloth accordingly'. Those exact words and I thought 'ok, you obv. know nothing' lmao. But she was right.

Instead of people buying us random gists e.g. my in laws, we asked for them to buy us a cot which we needed but couldn't afford so we got one in the sale. My parents payed for the mattress. My sister gave me her crappy old car seat (which turned out not even to be legal cause it was made in France and didn't have the British kite mark on it lmao), friend gave me an old pram. Also have you tried Netmums or freecycle? There are always things that people don't need that they are giving away. That will help with some of the expense of having a new baby too. We bought lots of stuff second hand- NCT sales and local second hand baby and charity shops. Can you try taking all your cards or whatever down to the minimum payment every month so you are not trying to pay them off but just keeping them ticking over while you are off on mat leave?

Sending you hugs and believe me, you're not the only one. You can get into a better place financially, it won't always be like this. I used to feel like we had a millstone around our necks - it took us 3.5 years but we paid off over 30k (of my dh's debts, I hasten to add lol). Yes, you read that right - 30K +. Now we have other debts but they are manageable. Hang in there

Nat, x

Hi, they other ladies have all offered some really good advice but was wondering if you had tried contacting your mortgage lender and asked for a repayment break ? I ve heard of some people doing this for 6 months whilst on maternity leave. moneysaving expert.com has really good money advice and i think there s a section about earning extra money from home if u do finish work early x

hiya hunni, i know excatly how u feel i have 2 children and im pregnant again and wat a surprise as my youngest is only 6 months so on top of having to buy stuff for new baby we also have a wedding 2 pay for (november this yr) and have bills comeing out of our ears, have no money put away for wedding as unexpected bills gobbled it up and cant cancel coz wil lose ova £1000 and thats a lot of money to me,

everything was going so well until the kids needed new clothes or shoes, there was a big bill we didnt include in budgets ect, im now so stressed, feel like i dnt want this baby but my df was tld he culdnt hav kids so this could b his only chance ( 2 boys r my exs) so feel like i have 2 keep the baby. Feel so quilty but basically im 19 i have 2 kids and one on the way, i hav a wedding 2 pay for and im sinking in 2 debt and i cant get a loan as i have bad credit as my ex ran up massive bills i could not afford to pay although im getting there now.

aw hunny {{{hugs}}} if it helps at all you're not the one in this situation. Even though we're not in as quite a pickle as you are, I know plenty of people who are really really stuck at the moment.

If you're in debt then the first thing I would recommend you do is yto speak to an independent debt counseller and/or the citizens advice bureau. These guys will really help you to work out how to pay off your debts and enable you to live with your incomings. If your credit is good then it will put you in a good situation to maybe get a consolidation loan or something like that? I would always recommend someone independent rather than your bank...

It sounds like you've done as many of the practical options as you can so that's a really good start. Without knowing all the ins and outs of your financial situation, it's really difficut for any of us to practically help you, but we're here for support and {{{hugs}} and to hopefully point you in the right direction.

HTH and it wasn't long ago that i was in your situation and now we're expecting baby #3 and even though we're by no means debt-free we are so much more comfortable and going on a lovely holiday abroad in a few months. Not bragging at all, but want you to see that there is light at the end of the tunnel and you can always have a happy ending...

xxxxxxx

thanks for your advice, and i have done all i can to cut down, but my outgoings are still more than our incomimgs. i tried to get rid of my car, but what i could sell it for wont cover what i owe, so i had to down grade instead to save a bit of money. Today i tried to cancel our call and broard band package, but they want £70.00 for the privilage. So im heving to keep that. That made me cry again! I have a pay as you go phone, so thats ok, i hardly use it. We are scimping on everything, but still dont have any money to save. The mother in law lent us some money and now wants it back-so i'll just get out my money tree!!!!

Im usually so money savvy, and i dont know how we got into so much debt, it is so scary. The funny thing is that the thing im worried about the most, is not being able to pay off my debts and my credit rating going down the toilet! as if i need to borrow more money!

God i wish i could stop crying and pull myself together-im not usually the crying type!

Aw hun, I know how you feel... I privately rent which is the same as a mortgage at the moment and I'm also panicking about when the baby comes (have alot of debt, living in my massive overdraft too!).  The expense of a child then having the wages cut down  on top of that just isn't practical.

Have you done the tax credits calculator?  If you get more than the family element you should get the £500 sure start grant too which might help a bit.  Don't forget the £18.80 a wee child benefit - ok so it's not alot but monthly thats another £60-70 or something which will help with another bill.

Is there anyway you can cut down on any TV packages or anything, reduce the minutes on any contract mobiles or any insurance on phones etc that isn't needed? 

As far as mortgages go I don't know if you could contact someone and ask them to reduce how much you are paying every month - possibly switch to interest only for a while or something?  Also find out if you can claim council tax benefit... you might be eligible for this once you drop down to the £117 a week pay.

I've tried to work things like that out to cut down my outgoings.  Anyway you could possibly put away a few pounds every month just now?  I have NO CHANCE of putting away any more than around £30 a month with all the baby stuff.

Hope this helps and even if it doesn't and you just need someone to chat to - give me a shout.

Stephanie - 21 from Glasgow, 24 weeks today with baby number 1!

xxx

Not sure if anyone can give me advice, but really i just need to get this off my chest.

Im 20wks, and with only 4 more full pay days until my maternity leave im starting to panic. Once i go on maternity, i have no idea how hubby are gonna manage, we are mortgaged to the eyeballs, and have conciderable debts, as well as living in our overdraft. I cant see a way out of our situation. Weve been trying to sell our house for over a year, and that would solve all our money problems, but no ones interested in it. Its fully modernised, in a lovely pocation and the cheapest in the village. On top of that i may have to go on maternity early as i am in constant pain with my back. This is making me so depressed, im crying all the time, which is obviously not good for me and baby, and my poor hubby doesnt know what to do. I know we will be eniltled to working tax credits and child tax credits once ive given birth, but that wont be enough. Plus all the baby stuff we still have to buy

AARHHHHHHH