Debt

Have you had a look on money saving expert? I am selling things on Vinted, using amazon shopper pannel app, scan and shop.

@Claudia currently uploading to vinted as we speak! but i haven’t had a look at the other but i will, thank you! xx

If you qualify, are you using tax free childcare? Call your water company, they may be able to put a plan together for your. Are you paying interest on the cc? You might want to switch to a 0 interest one. I appreciate you didn't ask about these so feel free to ignore me

Vinted is a good way of making extra cash. You’d be surprised at how much you can make

@Claudia we get the 15 hours free but our nursery bill is still expensive! i have been in touch with my water just waiting for them to get back. I’m unsure if i’m able to switch to a 0 interest one now due to being in debt with my current ones?

15 hours are separate and on top of tax free childcare, here is a link https://www.gov.uk/tax-free-childcare Yes, you can transfer the balance to a 0% credit card anytime because the new credit cars effectively pays for your current one so they don't care. There is usually a small fee for the transfer but it should outweigh the interest you pay monthly.

@Claudia Ahh thank you so much!! just looked into it and i can’t get it due to being on UC, but going to look into the cc thank you very much xx

Yeah I would get a credit card to balance transfer your current CC debt and pay off water and nursery, close that CC then your debt will be in one place. Much easier to maintain x

@Amy i’ve had a look around and can’t find anywhere that’ll accept me xx

I'm in the same boat £1000 in credit cards and overdraft £1500 tried getting it into just one debt, but nowhere would accept me.. literally had a breakdown to my mum about it this morning.. didn't realise the struggles of the finances when going on maternity leave my LO is 9 weeks old and I'm thinking I might need to go back to work already.. I am a message away if you want to be each other's emotional support during this time xxx

If you’re on UC do you use the 85% reimbursed nursery fees ?

Look on money supermarket it tells which one you are likely to be accepted for x

Like someone’s said above make sure you use the 85% childcare payback on UC!! It’s a lifesaver. You just upload proof of payment and the invoice, then on your next payment they give you up to 85% back

@Kayleigh it’s horrible isn’t it! it’s the first thing that i think of when i wake up and it’s on my mind as a worry 24/7 i just can’t wait till the day and i can say im debt free! Not sure if you know but you can get a self employed job on mat leave and it won’t affect your pay. Ahh thank you so much, that’s so kind of you, i’m here if you need a chat too xx

@Amelia yeah we do, we had a unexpected bill in august which resulted in this unfortunately xx

@Frayere i do this, do you need to do it monthly though? xx

Yeah I do it every month, once I’ve paid nursery I’ll pop it on UC :)

@Frayere Do you get the same every month back off uc? since my little boys started i only get £20 extra xx

It tends to vary tbh, very rare I get the same amount each month

If you’re struggling with your monthly repayments on your debts then speak to stepchange. They can help you xx

I was also going to suggest stepchange. My friend used them and they really helped her x

I used Vinted but it does take a long time to make money. Ive been in debt a couple of times in my life and both times the best way ‘out’ has been to consolidate into one long-term interest free credit card - if that is an option for you id go for that. You wont make fast money on Vinted in my experience (unless you’re selling designer stuff). Debt recovery schemes will massively set you back and destroy your credit score so only use them as an absolute last resort!